MKTG 1010 - Principles of Marketing

Credit Hours: 3.00

Objectives:

1. Define marketing’s role in business.
2. Explain the concept of value in marketing.
3. Identify sustainable competitive advantages and their importance.
4. Explain the marketing strategic planning process including mission statements, SWOT analysis and the SBU portfolio analysis.
5. Describe the uncontrollable macroenvironmental forces affecting an organization’s marketing strategy.
6. Identify and analyze ethical issues in marketing.
7. Describe the purchase decision process and factors influencing consumer behavior.
8. Compare and contrast marketing research tools using primary and secondary data.
9. Compare and contrast segmentation variables and their use in the targeting and positioning process.
10. Explain the importance of globalization and diversity in marketing.

Outcome 2: Upon completion of this course, students will be able to demonstrate knowledge of each element of the marketing mix.

Objectives:

1. Students will describe strategies for an organization’s marketing mix, including:
   1. Product.
   2. Promotion.
   3. Distribution/Placement/Supply Chain.
   4. Pricing strategy.

Outcome 3: Upon completion of this course, students will be able to develop a marketing plan that incorporates each of the above content areas.

Objectives:

1. Given a product/service/organization, students will create and present a comprehensive marketing plan:
   1. Analyze and select a target market.
   2. Recommend strategies for each element of the marketing mix.

1. Overview of Marketing
   1. Marketing’s role in business
   2. Value in marketing
   3. Introduction to the marketing mix
2. Marketing Strategy Development
   1. Core competencies and sustainable competitive advantage
   2. Internal planning (mission statements, SWOT analysis and SBU portfolio)
   3. Macroenvironmental (uncontrollable external) factors in marketing
   4. Ethics and social responsibility
   5. The emergence of global marketing
3. Understanding the Consumer
   1. The consumer decision process and factors influencing consumer behavior
   2. Marketing research and analysis
   3. Segmenting, targeting and positioning
   4. Business to business marketing
4. Developing strategies for products and services
   1. Evaluating a company’s product mix
   2. The product life cycle and diffusion of innovation for boosting product adoption
   3. New product introduction
   4. Branding and packaging
   5. Services marketing
5. Developing strategies for promotion and marketing communications
   1. Integrated marketing communications
   2. Development of an advertising campaign
   3. The promotion mix: advertising, public relations, sales promotion, personal selling, new media
6. Developing strategies for pricing
   1. Pricing objectives and strategies
   2. Price elasticity and the demand curve
   3. Break-even analysis
   4. Setting the final price
7. Developing strategies for distribution
   1. Marketing channels
   2. Supply chain management concepts
   3. Retailing fundamentals
   4. Physical distribution and inventory management