This syllabus outlines an integrated marketing finance course that will be held on Thursdays from 6:10-8:45 PM. The instructor is Joshua Rockoff and students will learn key financial concepts and metrics used to plan, analyze, and manage marketing programs. They will conduct hands-on exercises in areas like budgeting, break-even analysis, and calculating customer lifetime value. Assessment includes quizzes, a midterm, group project, and final exam. The course aims to provide students experience applying financial analysis to real-world marketing scenarios.

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FINANCE FOR MARKETING DECISIONS
Division of Programs in Business
Master of Science Integrated Marketing
Course # INTG1-GC 1030, Section #015
3 units
Course schedule: Thursdays from 6:10 PM to 8:45 PM (except Thursday, November 26th
, 2015)
Room: #419
INSTRUCTOR INFORMATION
Instructor: Joshua Rockoff
E-mail: jr4417@nyu.edu OR rockoffjoshua@gmail.com
Phone: +1 (917) 267-2057
Office hours: By Appointment
Bio: Joshua Rockoff is a serial Entrepreneur, Digital, Omnichannel, and E-Commerce expert
who’s spent the past 21 years building, managing, strategizing, and advising direct-to-consumer
businesses, wholesalers, private equity, investors, and governments on their Omnichannel, E-
Commerce and digital marketing initiatives. His experience is far-ranging, working in a variety of
startup, growth and turn-around situations, whose responsibilities include strategy, planning,
finance, implementation, and management. Having worked in the trenches in day-to-day roles
as an executive and advisor in a diverse set of brands, retailers, and wholesalers, his
responsibilities have included creating and formulate the strategy and plan but also understand
the details and skill sets required to create, manage and grow successful traditional and digital
businesses.
COURSE DESCRIPTION
The course covers the basic metrics, terminology, methodology, and formulas for calculating all
financial aspects of planning, managing, and analyzing marketing programs. Students will learn
how to develop a marketing profit and loss (P&L) projection, and how to analyze the P&L for the
key variables that can increase marketing success as well as the overall organization, and how
to manage marketing programs in order to set and achieve financial goals. They will conduct a
break-even analysis for a new product or service launch that includes customer acquisition, how
to compute and analyze the Marketing Allowable (allowable cost per new customer acquisition)
for a media campaign, and how to apply elements of Break-even (the quantity of sales that
result in zero earnings) and Marketing Allowable to develop the marketing budget and target key
metrics (e.g., cost per inquiry, cost per Response or Order, Cost Per Click Through, Targeted
Response Rate). Finally, students will learn how to build Cash Flow projections for a business,
develop a customer lifetime value model to project the value of relationship marketing, relative
to Net Present Value (NPV) and Customer Lifetime Value (CLTV).

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By studying the best practices of marketing finance, they will understand how to plan
measurable marketing campaigns and how to set the financial criteria for success, as well as
how to apply the metrics to direct and digital media, including e-commerce Websites.
Microsoft Excel will be used extensively in this class. Please ensure you have access to an
updated version along with a computer and/or tablet for use in class.
Prerequisites: None
COURSE LEARNING OBJECTIVES
Through successful completion of this course, students will have had hands-on experience with:
• Budget Planning with the Profit & Loss Statement (P&L)
o Revenue and cost forecasting
o Fixed versus variable costs
o Marketing and customer-acquisition cost development
o Managing the P&L for maximum effectiveness
o Analyzing cash flow
• Break Even and Cost Per Customer Calculations
o Break-even analysis
o Calculating response rate, dollar sales, and average order value
o Calculating the marketing allowable
o Calculating and applying Cost Per Customer metrics
• Profit and Customer Equity Models
o Return on Promotion Investment (ROPI)
o One Year, Three Year, Five Year Value analyses
o Customer flow
o Cash flow
o Discount Rate
o Net Present Value (NPV)
o Customer Life Time Value (CLTV)
o Return on Investment (ROI)
o Earnings Before Interest, Taxes, Depreciation & Amoritization (EBITDA)
Methods for Assessing the Expected Learning Outcomes
• Participation in class discussion:
o Reading assignments
o Homework assignments
o Daily topics, as assigned
• Individual and group case-study presentations
• A Midterm and a Final Exam
• Group final project
READINGS
Required Readings:
Your weekly reading assignments will be the NY Times Business Section and the Wall Street
Journal. Quizzes and class participation will be primarily based on readings. Please be prepared
in each class to answer the following:

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• Explain what the article is about
• Why did the executive(s) take the action that they did
• Do you believe it was correct decision, and
• Put yourself in the shoes of the CEO, if you were the CEO, how would you approach the
situation?
In your group project we will start up several businesses. Teams will be formed. Each business
team will be asked to prepare and make a short presentation of your business ‘pro formas’. The
class will serve as a panel of prospective investors. Will anyone invest? If so, will your team
accept their offer?
Required Readings:
• New York Times Business Section = http://www.nytimes.com/business
• Wall Street Journal = http://www.wsj.com
• Seeking Alpha = http://www.seekingalpha.com
Reference Readings:
MARKETING WEBSITES
• AdWeek: www.adweek.com
• BrandWeek: www.brandweek.com
• Marketing Vox: www.marketingvox.com - suggested reading every day, for digital marketing
• eMarketer www.eMarketer.com - for latest research and data
• AdRants: www.adrants.com - for an irreverent view of marketing
• Marketing Sherpa: www.marketingsherpa.com. Register online for this.
• Internet Retailer: www.internetretailer.com
FINANCE WEBSITES
• Financial Times of London: http://www.ft.com/home/uk
• Investor’s Business Daily: http://www.investors.com/default.htm
• Bloomberg (Website and magazine): http://www.bloomberg.com/ and
http://www.businessweek.com/
• The Economist: http://www.economist.com/
• Seeking Alpha website: http://seekingalpha.com/
• Yahoo Finance website: http://finance.yahoo.com/
• Securities and Exchange Commission - EDGAR database website:
http://www.sec.gov/edgar/searchedgar/companysearch.html
COURSE REQUIREMENTS
Course Assignments, Projects, and Examinations
Course work will consists of in-class and homework assignments designed to aid understanding
of concepts discussed in class and to enhance the student’s ability to apply the concepts to real-

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world or hypothetical situations. The aim of assigned homework is to help students master the
concepts and calculations covered in class.
There will be two exams; a midterm and a final in which students will apply their learning to
solving problems. Before each, there will be review assignments.
The group project will be a case study with a P&L Model, requiring students to apply the
principles and calculations taught in class, write up their conclusions and recommendations,
prepare a presentation with supporting financials to present to the class.
GRADING POLICY
Class attendance, preparation and discussion are expected. Unannounced short quizzes based
upon the lectures and reading will be administered. We will also have team projects, a group
presentation, and a final examination. There will be no midterm. Grades will be calculated by:
• Class Participation (includes Cases, Homework and Attendance): 15%
• Quizzes: 20%
o Quiz #1 (5%)
o Quiz #2 (5%)
o Quiz #3 (5%)
o Quiz #4 (5%)
• Midterm: 20%
• Final: 20%
• Group Project: 25%
Students receive one of the final grades below. In some cases, a numerical grade may have
been given for a test, an assignment, or project, but it is eventually converted to a letter grade
using the conversion values below. Grade changes can be made at the discretion of the
instructor. Students may appeal the final grade in accordance with the NYU SPS Grade Appeal
Process: http://www.scps.nyu.edu/academic-policies-and-
procedures.html#Grade_Appeal_Process.
Grade
A There is no A+
A = 93 - 100 = 4.0
A- = 90 - 92 = 3.7
B B+ = 87 - 89 = 3.3
B = 83 - 86 = 3.0
B- = 80 - 82 = 2.7
C C+ = 77 - 79 = 2.3
C = 73 - 76 = 2.0

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C- = 70 - 72 = 1.7
F F = 69 or below = 0.0
IP Work to date was passing. IP may be granted by the
Department only in extraordinary and extenuating
circumstances. It is not given automatically but only when it is
deemed to have met the criteria and when a contract is signed
by the student, faculty, and divisional dean prior to the end of the
course. Once an Incomplete Contract is approved, a copy of
this request must be filed with the Program Department.
Students must have completed at least 50% of the course to be
considered for an IP. If the terms of the IP are not met within the
time frame stated on the contract, the grade will convert to an N
(“No Credit/Unofficial Withdrawal”) and cannot be changed or
further appealed. Students will have to retake the course to
receive a weighted grade.
IF Work to date was failing. Students must have completed at least
50% of the course to receive an Incomplete. An IF that is not
removed by the established time in the Contract becomes an F
and cannot be changed or further appealed. Students will have
to retake the course.
NOTE: A student who receives an IP/IF grade may not
simply retake a test or exam already taken. The student
must do additional new work to remove the IP/IF as outlined
in the contract. There is a grade point deduction from the
overall grade for late submission of work.
ATTENDANCE
Students are expected to attend all classes. Per University policy, excused absences are only
granted in cases of documented serious illness, family emergency, religious observance, or
civic obligation. In the case of religious observance or civic obligation, this should be reported
no later than the first week of class. Recruiting activities, job interviews and incompatible travel
plans, for example, are considered unexcused absences even if notification is given in advance.
Unexcused absences from sessions will have a negative impact on your final grade. Students
are responsible for assignments given during any absence.
Students will receive credit for attendance only when they arrive to class on time and stay to the
end of the class period. Students may enter class late or leave class early only if given
permission by the instructor and if it can be done without disrupting the class.
ACADEMIC INTEGRITY
Students are expected to quote accurately and identify the origin of citations from others, as well
as to acknowledge when ideas are dependent upon concepts developed from other sources.
This process of attribution and referencing allows each individual to demonstrate how her or his
understanding and ideas relate to an existing body of knowledge—and add to it. Proper
attribution demonstrates the values of academic integrity, and systematic reflection and

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intellectual development. To do otherwise and not reveal sources constitutes plagiarism.
Plagiarism is a form of academic dishonesty.
Students please review NYU’s full academic integrity & plagiarism statement.
Students please review SPS Policies on Academic Integrity and the Academic Integrity
Disciplinary Procedures.
FERPA & TURNITIN
Some assignments in this course may be checked for plagiarism using Turnitin.
Review the Family Educational Rights and Privacy Act (FERPA).
STUDENTS WITH DISABILITIES
If you are a student with a disability who is requesting accommodations, please contact New
York University's Moses Center for Students with Disabilities at 212-998-4980 or
mosescsd@nyu.edu. You must be registered with the Moses Center to receive
accommodations. Additional information can be found at www.nyu.edu/csd. The Moses Center
is located at 726 Broadway on the 2nd floor.
INTERNATIONAL STUDENT SUPPORT
If you are an international student and need additional support, please visit the International
Student Support Center website.
TECHNICAL SUPPORT
Email: AskITS@nyu.edu
Contact Forum: https://www.nyu.edu/its/askits/contactus
Phone (24/7): 212-998-3333

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COURSE OUTLINE
Class 1: Class Overview – September 3
• Overview and Discussion of Course
• Class Policies and Assessment Criteria
• Plagiarism
• Desired Outcome of the Course- Knowledge and Skills you will gain
• Why is Finance Important for Marketers?
• What are Metrics and Financial Analysis?
• Metrics used to Determine Success of Campaigns
• Discussion of Group Term Project
Classes 2 & 3: Revenue Generation and Costs – September 10 & September 17
• Revenue Generation
• Business Models
• Costs of Doing Business
• Earnings Before Interest, Taxes, Depreciation & Amoritization (EBITDA)
• Basic Integrated Marketing Terms, Formulas and Metrics
• Financial Analysis for Decision-Making
• Quizzes - #1 & #2
Classes 4, 5, & 6: Basic Accounting & Financial Reporting – September 24, October 1 &
October 8
• Basic Accounting: Accounting 101
• Forecasting & Budgeting (Pro Forma Statements)
• Basic Financial Reports
o Cash Flow
o Income Statement
• Margins & Ratios
o Balance Sheet
o Financial Statement Analysis
§ Exercises
o How to Build a P&L
o How to Finance a Business?
o Discussion of Break-even Analysis
§ Formulas
§ Exercise
§ How to use this tool
o Quiz #3 & #4 (Class 5 and Class 6)
NO CLASS – October 15
Class 7: Midterm and Term Project – October 22
• In–Class Midterm
• Term Project Discussion
Class 8: Financial Calculations – October 29
• Review Midterm
• Discount Rate
• Net Present Value (NPV)

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• Time Value of Money (TVM)
Class 9 & 10: Customer Costs, Values and ROI – November 5 & November 12
• Marketing Funnel
• Cost of Customer Acquisition
• Cost of Customer Retention
• Customer Lifetime Value (CLTV)
• Return on Investment (ROI)
• Return on Marketing Investment (ROMI)
Classes 11: Role of Marketing Metrics in Financial Performance – November 19
• How do we measure Marketing Programs?
• Web metrics
• Marketing metrics
• Marketing Dashboards
• Review for Final
Class 12: Final Exam (Thanksgiving Week)
• In-class Final Exam
Class 13: Term Project Presentations
Class 14: Term Project Presentations
You MUST be PRESENT for the Term Project Presentations