Marketing Theory

MKT 531

Lecturer Prof. Dr. Florian Stahl
Contact person Veronica Valli
Course Format Lecture
Credit Points 4 ECTS
Hours per Week 2
Semester Spring
Language English
Registration no registration required
Accepted Participants Mannheim Master in Management, Mannheim Master in Business Research (MMBR), M.A. Culture and Economy / Business, M.Sc. Business Education, M.Sc. Business Informatics, M.Sc. Business Mathematics, M.Sc. Economics, Diplom Business Administration

    Further Information

  • Brief Description

    Marketing begins and ends with the consumer - from understanding consumer preferences and needs to providing consumer satisfaction. Thus, a clear understanding of consumers is critical in successfully managing the marketing function in any organization. This course examines the nature of consumer behavior and consumer decision process. We study the effect on consumer behavior and decision making of psychological influences (such as learning, motives, perception, and beliefs and attitudes). Understanding consumers' behavior and the irrationality of the human decision-making process is key to developing winning marketing strategies for advertising, branding, pricing or promotions. We will discuss in this course also econometric models of such consumer behavior, and then investigate the implications for optimal firm decision making and market outcomes.

  • Lecture

    Lecturer Prof. Dr. Florian Stahl
    Contact person Veronica Valli
    Schedule Thursday (8.30 - 10.00am), Room: M 003
    Assessment Written Exam (100%)
  • Course Outline

    Part A: Principles of Behavioral Economics & Social Psychology

    I. Foundations of Preferences, Judgment and Choice

    II. Prospect Theory and Mental Accounting

    III. Foundations of Social Psychology

    Part B: Consumer Behavior 

    IV. External Influences: Social Status and Reference Groups

    V. Internal Influences: Consumer Perception

    VI. Internal Influences: Consumer Learning, Memory and Product Positioning

    VII. Internal Influences: Consumer Motivation, Personality and Emotion

    VIII. Internal Influences: Consumer Attitudes and Influencing Attitudes

    Part C: Consumer Decision Process 

    IX. Pre-Purchase, Purchase and Post-Purchase Processes

    Part D: Marketing Strategy: 

    X. Creating Marketing Strategies for Customer-Centric Organizations

    XI. Shaping Consumers' Opinions and Helping Consumers to Remember