MarketingBack to Course Guide
The course explores the role of marketing in organizations and society by examining how firms select markets, forecast demand, design and distribute products, advertise and sell, set prices, and evaluate their efforts.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Understanding the differences between sales and market orientations.
- Identifying the reasons for studying marketing.
- Describing the components of a situation analysis and utilizing a product portfolio (BCG) matrix.
- Identifying sources of competitive advantage.
- Describing how cultural, social and psychological factors influence consumer decision-making processes.
- Discussing the difference between business and consumer marketing.
- Describing the importance for new product development, product life cycles, and the steps of new-product development process.
- Discussing the relationship between a product’s life cycle stage and the strategies used to promote, price, and distribute the product.
- Explaining how firms establish prices for goods and services.
- Understanding pricing strategies and pricing objectives.
- Explaining a marketing channel, why intermediaries are important, and identifying the types of channel intermediaries and business products.
- Describing how promotional strategies can effectively integrate advertising, personal selling, sales promotion, and publicity.
- Understanding the impact of technology on marketing strategies (e.g., the Internet, social media, and the World Wide Web).
- Understanding the role of market research for developing marketing strategies, obtaining competitive intelligence, and making marketing decisions.
- Describing social media, its relationship to marketing, and evaluating the various methods for measuring social media.
- Understanding the impact of mobile technology to social media and for companies.
- Explaining the importance of retailing, types of retail operations, franchising, and new developments in retailing.
- Identifying ethical issues in the practice of marketing.