Marketing Management in a Competitive WorldBack to Course Guide
The course presents a systematic approach to analyzing, planning, evaluating, implementing, and controlling marketing activities in competitive modern organizations. Topics addressed in the course include analyzing the new realities of marketing, understanding the creation and delivery of value, forecasting and measuring market demand, and understanding the role of market research. The course also addresses identifying and evaluating market segments, selecting target markets, evaluating competitors, measuring customer lifetime value, designing multichannel marketing, understanding database-driven integrated marketing, and creating a marketing strategy. Students develop a comprehensive marketing plan as a final deliverable for the course.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Developing and evaluating a comprehensive marketing business strategy and plan.
- Understanding the discipline of marketing management and what it entails.
- Defining and articulating the new realities of marketing in the current competitive environment.
- Understanding the concept of “value chain” including creation and delivery of value.
- Forecasting and measuring market demand including the use of marketing analytics.
- Analyzing and researching marketing opportunities through various analytical tools including evaluating competitors and their marketing strategies.
- Understanding the processes involved in capturing market insights and collecting market information including the role of market research in these processes.
- Evaluating the concept, structure, and use of marketing information systems.
- Describing the processes involved in identifying and evaluating market segments, selecting target markets, and developing market positions.
- Analyzing the value of brand equity and understanding branding strategies.
- Evaluating the value of customer loyalty through measuring customer lifetime value (CLV) and customer relationship management (CRM).
- Designing integrated, multichannel marketing communications including messaging across advertising, sales promotion, personal selling, social media, and publicity.
- Understanding the advantages of holistic, database-driven integrated marketing.
- Understanding the issues involved in global marketing and their resulting impact.
- Formulating and evaluating the effectiveness and return on investment (ROI) derived from proposed or implemented marketing campaigns.
- Identifying and analyzing ethical issues involved in marketing management and formulating effective proactive responses to those issues.