This course introduces the master students in Economic Psychology to the basics of marketing. Through a series of (guest-) lectures and assignments, you will familiarize yourselves with the core steps in the marketing process. The set-up of this course is highly practical, and many learning activities in this course are problem-focused and derived from real companies. Please note however, that this is not a course on marketing
. The emphasis will be on learning how your knowledge of psychology can be a valuable asset in marketing. We will not address the strategic business aspects of marketing, nor will we consider the creative aspects of marketing such as the artistic facets of advertising. Finally, we will only concern ourselves with business-to-consumer (b2c) marketing, not with business-to-business (b2b) marketing.
After this course, students:
- Understand that marketing is a managerial process aimed at generating profit through creating customer value.
- Are familiar with recent strategic and methodological trends in commercial marketing practice.
- Understand the nature and purpose of marketing-related activities as addressed in the lectures of this course, (i.e., market research; segmenting, targeting, and positioning; conversion rate optimization; pricing and promotion).
- Explain which psychological theories are relevant for the activities listed under three.
- Summarize the key insights from the psychological theories mentioned under four.
- Apply the key insights mentioned under five to facilitate marketing-related activities at the relevant stages in the marketing process.
- Identify and describe ethical aspects of marketing activities.
Setup. This course consist of 12 meetings. The lectures will be hosted by myself and occasionally by an expert from the field. In addition to the lectures, you will need to complete and present assignments during some of the meetings. The assignments are completed in groups. Note that the lectures and the assigned literature may provide necessary background to the proper completion of the assignments.
Attendance & Preparation. Attendance of the lectures is voluntary and the assigned literature will not be quizzed during the meetings. That said, preparation for-, and participation in class is strongly encouraged for several reasons: Firstly, this course largely consists of plenary discussions. Active participation during the discussions is encouraged, appreciated, and determines how much you will learn from this course. Please note that active participation does not strictly require you to provide verbal input during the discussion. Primarily, it means engaged attention. Secondly, guest lecturers who are experts in the field of marketing host some of the meetings in this course. Attending their lectures is not just in your own interest, for instance because the experts may help you find suitable internships; it is also common courtesy to do so. Obviously, the same goes for the meetings at which you and your fellow students present the results of your completed assignments. Thirdly, the lectures and literature provide background information to the assignments. Failing to attend lectures and/or read the literature therefore may unduly burden your group members who rely on you being up to date to provide substantially to the completion of the assignments.
Requirements. Only students of the master track Economic Psychology are allowed in this course.
Grading. There are four graded group-assignments to this course. If your group fails the assignments, you need to make replacement assignments that are similar in content and scope . It is not possible to redo any specific assignment in order to get a higher grade. To improve your grade of the group assignments, you need to do replacement exercises for all assignments.
Your final grade is determined by the averaged grade for the four group assignments and your personal grade for the final exam. Both make up for 50% of the final grade and both parts of your grade have to be higher than 5.5. Please note that this is a hard cut-off, meaning that a grade of 5.3 will not be rounded up.If a student does not pass this course this academic year, all results obtained this year are cancelled in the next academic year.
Expected time spend on course. The course total of 6ECTS amounts to 168 hours. There are only 26 hours scheduled as class meetings, so expect to spend around 132 hours on assignments outside of scheduled hours.
Compulsory Reading. The literature consists of scientific articles that will be announced at the beginning of the course.