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Foundations of Marketing, Group B

Learning objectives The course provides basic concepts and strategies of the core marketing concepts. The course also provides the central marketing instruments, such as, for example, regression analysis (session 3), calculation of the customer lifetime value (session 6), qualitative price differentiation (session 7) as well as discrete choice experiments (session 9).
Course code
Course type
BSc Course
Weekly Hours
FS 2021
Prof. Dr. Christian Schlereth
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.

Relevance of the course "There is only one valid definition of business: to create a customer (?) Marketing is the unique and defining function of the enterprise", wrote Peter Drucker, the best-known management thinker in 1954. At this time unsaturated seller markets changed into saturated buyer markets - and remained until today. Today's companies' focus on customer needs and customer benefits has been the central success factor of the corporate management. The implementation of a market-oriented management led to a rise of the marketing division within the company. Learning objectives The course provides basic concepts and the vocabulary of the marketing strategy as well as the product and customer management. Course content " Introduction to marketing and misconceptions (session 1) " Strategic marketing (session 2) " Buying behavior theory: ECONS vs. HUMANS (session 3+4) " Market research (session 5) " Customer centric marketing (session 6) " Pricing policy (session 7) " Product policy (session 8+9) " Guest lecture to improve knowledge of prior sessions (session 10) " Distribution and communication policy (session 11) " Exercise course (session 12)

Course content may change before course begin.

Date Time
Tuesday, 09.03.2021 11:30 - 15:15
Wednesday, 28.04.2021 09:00 - 12:00
- Fundamental understanding of Marketing in a broader sense

- Profound knowledge on setting the 4Ps

- The use of regression analysis to support business decisions

- Customer centricity

Will be announced in class
60 points of grading will begiven by exam (60 minutes). During the 6 week lecture additional 30 points will be given by assignments and can be finished at home.
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