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James M. Munch, Ph.D. Chair of Marketing Department

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Updates

Congratulations, Dr. Gupta! Outstanding Marketing Teacher of the Year 2009!

Congratulations, Dr. Gulas! Outstanding Scholarship 2009!


From the Chair....

Welcome!  We are glad that you have discovered the Department of Marketing Web Site.  Here you will find a glimpse of our programs, faculty, recent news, and must-have information from the Department of Marketing. 

The main goal of the Department of Marketing is to support student success through quality education and successful programs.  Our department chair, along with the faculty and staff, are committed to assisting all students with their academic needs. The Department of Marketing in the Raj Soin College of Business offers a variety of benefits to enhance and improve a student's success:

Should you have any questions regarding the Department of Marketing, please do not hesitate to contact our office for any additional information.  We certainly hope our web site will be useful to you, and thank you for visiting. 

-- Chair, Faculty & Staff of the Department of Marketing

              

      

Raj Soin College of Business                                                                             

Department of Marketing

266 Rike Hall

3640 Colonel Glenn Hwy.

Dayton,  OH 45435

(937) 775-3047

Fax (937) 775-3952

Email: teresa.stelmat@wright.edu

What is Marketing?

Marketing involves much more than just selling goods and services. It also involves identifying customer needs, and finding new markets and new products to meet these needs and markets.  Further, Marketing identifies what product changes are desired by customers.

Equally as important as developing products is Marketing's responsibility for selling the Company's products. This in turn involves advertising and personal (i.e., face-to-face) selling, both to consumers and to other companies that buy the Company's products.

Surprisingly, Marketing is very involved in pricing the Company's products. While there are important financial aspects of pricing, there are also the customers' perceptions of price to consider. As an example, for years Marketers at Mercedes warned that there is a limit to how much American luxury car buyers would pay for Mercedes' 500 Series automobiles.  At some point, Mercedes' 500 Series pricing apparently passed that limit and sales dropped dramatically. As another example, Godiva chocolates were once priced with the competition. When Marketers raised prices to signal consumers that Godiva chocolates were somehow better than the rest, unit sales fell but revenue increased. The unit decline was more than offset by the price increase.

Marketing is also responsible for distributing the Company's products via wholesalers, retailers, catalogs, E-commerce, and more. In addition, Marketing is increasingly responsible for the physical distribution of the Company's products-- e.g., how they are inventoried, packed, transported, warehoused, etc. All other things being equal, consumers and companies prefer products that are available where they want them, in the right quantities, when they want them, etc.

In short, Marketing is responsible for finding needs and filling them, and maximizing exchanges between the Company and customers. This includes designing and refining the Company's products, and pricing, promoting, and distributing them.

Marketing is also responsible for identifying new target markets. This can involve Marketing in starting new companies, and acquiring outside companies.

Perhaps surprisingly, Marketing can be quite technical. For example, trained Marketers who are also trained Statisticians conduct Marketing Research for larger companies such as Proctor and Gamble. Trained Marketers who are also trained Psychologists perform Consumer Marketing Research studies. Trained Marketers who are also trained Engineers do Logistic system design. More unusual examples include the degreed Lawyers, who are also trained Marketers, who work for the U.S. Justice Department and larger law firms on the legal aspects of Marketing.

Marketers are involved in all aspects of the U.S. economy. For example, in addition to consumer products such as automobiles, Marketers are involved in Business-2-Business markets such as jet engines to Boeing. Marketers are involved in E-commerce, both to consumers (e.g., amazon.com), and to businesses (e.g., boeing.com). Surprisingly Marketers are involved in politics. The President and the President Elect used Marketing Researchers, Public Relations experts, Fund Raisers, and more. Most of these were trained Marketers. Marketers are also involved in environmental issues. Green Peace, the National Wildlife Federation, the Nature Conservancy, and more use trained Marketers to help generate donations and lobby for public and governmental support.

Marketers are involved with intercollegiate and professional sports. The recent Olympic Games involved trained Marketers to obtain sponsors, promote ticket sales, repair public relations (e.g., the bribes paid to the Commissioners), and more. The NFL employs Marketers to promote the NFL (e.g., the United Way involvement of name NFL players). Local franchises employ trained Marketers to promote the local team, lobby for new stadiums, etc.

Marketers can be among the highest paid individuals in a company. Over the years Marketers have occupied the executive suites of over half of the Fortune 500 companies. Sales persons in some larger companies can make seven figures per year-- executives in these companies know sales persons are responsible for producing and maintaining the Company's revenue stream, and will pay to ensure this.

Marketers usually specialize in one or more of the above jobs, and are found in all types and sizes of firms. They work for small to large companies that are publicly traded, and for small to large privately held firms such as Cargill. Marketers also work for small to large consulting firms. In California and elsewhere you can rent a Marketer for the day, week or month from temporary employment firms. Marketers are even found in higher education. Most of the Professors in our Marketing Department have actually spent part of their careers doing Marketing in real-world companies.

We believe that our Marketing program prepares Marketing students for a career managing and doing one or more of the above jobs, and that it prepares students for the graduate training required for those that require an advanced degree. Interested students can major in marketing as an undergraduate or graduate, or they can minor in marketing.
 

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