The marketing function is the keystone of a well managed company. Strategically, it is concerned with identifying the customer and the products and services which the customer requires. At the operation level, marketing management identifies specific customer needs and the types of products required to fill those needs. This course is designed to develop an understanding of how to build an integrated marketing effort in view of the forces affecting marketing activity, the customer, the trade, competition, and government regulations.
This course covers marketing strategy – marketing information – customer analysis and buyer behavior – market segmentation – market research – product development – marketing channels and logistics of distribution – pricing – direct selling – advertising and promotion – product policy and strategy – and global marketing. Continual emphasis is placed on shaping these elements into a complete, integrated, responsive marketing program. The course deals with the development and implementation of plans, strategies and tactics which will best serve the organization and the customer in a competitive environment.
Course Learning Outcomes
Define the role of marketing in organizations.
Outline the implementation of the marketing mix as a means to increase customer value.
State the ways in which corporate social responsibility programs help various stakeholders.
Explain how customers, the company, competitors, and corporate partners affect marketing strategy.
Articulate the steps in the consumer buying process.
Identify the different types of buyers and sellers that participate in business-to-business (B2B) markets.
Highlight the similarities and differences between a domestic marketing strategy and a global marketing strategy.
Describe how companies determine whether a segment is attractive and therefore worth pursuing.
List the five steps in the marketing research process.
Indicate the advantages of a product’s packaging and labeling strategy.
Contrast the different groups of adopters articulated by the “diffusion of innovation” theory.
Express how the marketing of services differs from the marketing of products.
Explain the relationship between price and quantity sold.
Compare the difference between everyday low price strategy (EDLP) and a high/low strategy.
Define supply chain management.
Discuss the four factors manufacturers should consider as they develop their strategy for working with retailers.
Detail the marketing metrics used to measure Integrated Marketing Communications (IMC) success.
Outline the steps in designing and executing an advertising campaign.
Articulate the key functions involved in managing a sales force.