The Marketing lecture gives an overview of the guiding concept of marketing. The basic instruments and methods of marketing are presented from an exchange theory perspective. An introduction to marketing is followed by a lecture unit on value and customer relationships. In addition, students are introduced to the fundamentals of the marketing mix with lecture units on products and services, pricing policy, distribution and communication. The submodule concludes with a case study discussion.

The lecture will be given by our visiting professor, Prof. James A. Eckert, Ph.D.

Contrary to many predictions, the selling function has not disappeared with the advent of modern B2B web and information exchange offerings. On the contrary, it is becoming increasingly clear that the ability to sell is becoming more important in a world where commerce has become much more transparent. Interactions between sellers and buyers, and the resulting relationships, are more important than ever to the success of businesses. For this reason, the sales function still plays a key role in the world of B2B marketing - although the focus of that key role has changed. We now see a world in which the salesperson is tasked with developing sustainable relationships with customers, rather than being uniquely transaction-based as before.

This course will dive into that world. Specifically, this course consists of two components: (1) a theoretical review of key sales management materials related to adaptive, relationship-based selling, and (2) an approach to corporate-style sales training that will enable students to learn the practical selling and communication skills of an adaptive, relationship-based salesperson. This course includes reading of class materials, lectures, discussions, exams, and interactive exercises such as role plays and cases.

Strong customer relationships are vital to company strategy and performance. Relationship marketing is therefore concerned with identifying, developing, and maintaining successful relational exchanges. Due to a confluence of trends driving the global business world—including the transition to service-based economies, faster product commoditization, intensified competition worldwide, growth among emerging markets, aging populations, advertising saturation, and (above all) the digital age—the critical impact and effectiveness of idiosyncratic customer relationships, relative to other marketing mix factors, continues to increase at an ever-growing pace. The research-based approach of this module combines lectures with discussions of state-of-the-art research papers, enabling participants to understand, critically reflect, and effectively apply relationship marketing instruments. One relevant instrument of relationship marketing are loyalty programs, which will be discussed in-depth in this module.​