Marketing Lecture Notes 1 - Spring 2026

Marketing Lecture Notes - Spring 2026

Course Information

  • Course: BUSI130: Marketing

  • Instructor: Minah Park

  • Contact: mpark6@oberlin.edu

  • Office: Bosworth Hall 203C

  • Office Hours: After classes and by appointment

  • Classroom: King Building 227

  • Class Time: Wednesday, 02:30 - 04:20 (110 min)

  • Credits: 2

Lecture Objectives

By the end of this session, students will be able to:

  1. Understand the structure of the course, including class format, expectations, and syllabus.

  2. Build connections with classmates through introductory activities to foster a collaborative learning environment.

  3. Explain the core purpose of marketing: creating value for customers and fostering mutually beneficial relationships.

  4. If time allows, explore what a product-centric market looked like.

Class Introduction & Syllabus

Instructor Background

  • Education:

    • Ph.D. Candidate in Management and Human Resources, University of Wisconsin – Madison, Wisconsin School of Business, WI, US

    • Ph.D. in Operations Management with a Minor in Management (2020), Yonsei University, Department of Business Administration, Seoul, Korea

    • M.S. in Chemical & Biomolecular Engineering (2015), Yonsei University, Seoul, Korea

    • B.A. in Life Science and Biotechnology (2012), Yonsei University, Seoul, Korea

  • Academic Position: Assistant Professor of Business (Fall 2025 – present), Business Program, Oberlin College & Conservatory.

Class Structure

  • Lecture Format:

    • Lectures will be paired with in-class exercises.

    • In-class exercises will be completed in small groups.

    • Assignments will build on these exercises but must be submitted individually to reflect each student’s contribution.

Creating an Inclusive Environment

  • Key Principles:

    • Respect Diversity: Value and embrace differences in perspectives, backgrounds, and ideas.

    • Encourage Collaboration: Foster open dialogue where everyone feels heard.

    • Promote Psychological Safety: Create a space where students feel comfortable sharing ideas and taking risks.

    • Be Open-Minded: Approach discussions with curiosity and a willingness to learn from others.

    • Support Each Other: Offer constructive feedback and celebrate classmates’ contributions.

Icebreaking Exercises

  1. Name Story:

    • Form groups of 4 students.

    • Each student shares a short story about their name (origin, significance, uniqueness). Each person has about 2 minutes to share.

    • Goal: Learn each other’s names and build personal connections.

  2. Uncommon Commonalities:

    • Discuss personal interests or experiences to identify uncommon traits shared by group members (e.g., number of siblings, travel experiences).

    • Prepare to share findings with the class.

Syllabus Details

Absences

  • Notify the instructor at least 24 hours in advance if you will be absent.

  • Days of attendance will be verified through a name tent on three random days; unnotified absences will incur a 3% penalty per day on participation points.

Lateness and Extensions

  • Deadlines announced in advance; extensions are rare and require written requests at least 24 hours before deadlines.

  • Late submissions without prior approval will not receive credit.

Exams

  • Responsibility for all discussed material in class rests with students.

  • Exams must be taken as scheduled; exceptions require documented justification.

  • Unexcused absences from an exam result in a zero.

  • Proof must be submitted within 48 hours of a scheduled exam for serious reasons.

Use of Artificial Intelligence (AI) Tools

  • Unauthorized use of AI tools for assignment completion is considered cheating as per the Honor Code.

  • Tools can benefit learning (e.g., generating practice questions) but should not replace original work.

  • AI use must be disclosed in written assignments.

Grading Breakdown

  • Midterm Exam: 35%

  • Final Exam: 35%

  • Online Assignments: 20%

  • Participation: 10%

  • Total: 100%

Grade Scale

  • A+ 99-100

  • A 94-98

  • A- 90-93

  • B+ 87-89

  • B 83-86

  • B- 80-82

  • C+ 77-79

  • C 73-76

  • C- 70-72

  • D 60-69

  • F below 60

Communication

  • Engage fully in small group discussions; communicate challenges promptly.

  • Students may address the instructor as Professor Park.

  • Professional and respectful email communication is encouraged.

Email Communication Examples

  1. Example 1:

    • Subject: Question about Assignment 2
      Dear Professor Park,
      I hope you are doing well. I had a question about the instructions for Assignment 2. Could you please clarify whether we should include citations for online sources? Thank you for your time and guidance.
      Sincerely,
      Alex Kim

  2. Example 2:

    • Subject: Homework?
      Hey,
      I don’t get the homework 2. What do we need to do?
      Thanks, Alex

Marketing Concepts

What is Marketing?

  • Marketing is the study of markets, which are systems of exchange between two partners, typically buyers and sellers, but can also apply to nonprofits and non-monetary situations.

  • Key Element: For marketing to exist, there must be an exchange of value.

Three Core Principles of Marketing

  1. Principle of Customer Value:

    • A company must provide real and genuine value to succeed. Customers choose products based on perceived benefits and satisfaction.

  2. Principle of Differentiation:

    • Companies must offer value better than competitors, highlighting unique aspects of their products or services in customers’ eyes.

  3. Principle of Segmentation, Targeting, and Positioning (STP):

    • Firms divide markets into segments, select target segments, and position brands to meet specific customer needs, as not all can be served profitably.

Marketing in the Age of Social Media and Networks

  • Modern customers are interconnected and often publicly share their experiences via social platforms.

  • A positive experience can enhance word-of-mouth, whereas a negative one can damage a brand's reputation.

  • Marketers must manage every part of the customer journey with the brand, from initial contact to post-purchase follow-up.

The Need for Authenticity and Trust

  • In today's connected world, marketing needs to be transparent and authentic.

  • There is a balancing act between delivering value, ensuring trust, and maintaining cost efficiency.

Examples & Class Discussion

  • American Eagle: https://www.youtube.com/watch?v=AK8s3iqL99c

  • Gap: https://www.youtube.com/watch?v=IwzF26o0AuU

Discussion Questions:

  1. How do the ads make you feel about the brand?

  2. Which ad would influence your jean purchase decision more? Why? (Consider celebrity influence, inclusivity, visual elements)

  3. What were each company aiming to achieve with their campaigns?

  4. What brand identity and values were communicated in each campaign?

Historical Context in Marketing

When Did Marketing Become Important?

  • Historically, marketing was not prioritized in early industrialization; focus was on mass production.

  • In late 19th - early 20th centuries, demand exceeded supply, leading companies to focus on production over selling.

  • As market saturation and competition escalated in the mid-20th century, differentiation and persuasive marketing became critical, which fostered the development of modern marketing.

Traditional Business Model: The Product-Centric Approach

  1. Maximize Firm Value and Profit:

    • Central objective to maximize long-term firm value through cash flow management.

    • High volume and low cost strategies.

  2. Scalability as a Strategic Priority:

    • The ability to sell products in high volumes is essential; low operational costs enhance profit margins.

  3. Market Share as a Key Metric:

    • Market share indicates company’s sales portion in a market; historically linked with profitability and business success.

  4. Need for Growth via Product Expertise:

    • Shareholders expect continuous growth driven by selling existing products to new customers and innovating new products or services, relying on product expertise.

Product Expertise as a Competitive Advantage

  • Firms focus strategies on:

    • Operational Efficiency: Streamlining processes to reduce costs.

    • Market Expansion: Targeting new regions or customer demographics.

    • Product Development: Innovating or enhancing products in response to customer needs.

  • Sustained competitive edge comes from deep knowledge of products.