Marketing
Course Outline
This subject will provide you with an introduction to the field of marketing. We will look at the environment marketing operates in, the marketing mix, how to develop a marketing plan and how to analyze case studies. To achieve a distinction grade you will have to spend some extra time in reading and studying to prepare for tutorials, do assignments, and reading the text book. Even to be able to just pass the subject, you still will have to set time aside beside the attendance
Aim of the unit:
¨ Demonstrate an understanding of the principles and role of marketing
¨ Recognize the importance of customer needs in determining business and consumer market behaviour
¨ Distinguish between a product/service’s features and the benefits it offers
¨ Employ the principle of market segmentation to define the market for a product or service
¨ Explain the concept of the marketing mix-Product-Price-Promotion-Place (the 4Ps) plus People-Physical evidence (or Proof)-Processes (the 7Ps).
¨ Identify and describe the purpose and practices of the main marketing activities and functions
- product and brand management and development
- advertising, market communication and promotion
- market research
- distribution and merchandising
- customer service and sales administration, selling and sales promotion
- marketing planning
- corporate identity and promotion
¨ identify and evaluate marketing objectives in relation to:
- different markets and products
- market needs
- the effects of competition and change
- sales growth and increase profitability
- markets, diversification of products and services
- market share and market penetration
- customer service, retention and churn rates
¨ assess the factors the influence pricing decisions:
- direct and indirect costs
- competition
- legislation
- seasonality
- advertising and branding
- quality
- discounts and margins in the distribution channel
¨ evaluate the effectiveness of sales and promotion strategies to achieve marketing objectives
- face to face selling
- internet, e-mail, fax and telephone selling
- direct mail
- public relations and sponsorship
- product promotions
- advertising
¨ identify market research objectives, to explore:
- attitude and behaviours in existing and potential markets
- product development opportunities
- competitor behaviors and performance
- market trends
- effectiveness of advertising and promotions
¨ compare and contrast the two main research sources:
- primary research: information gathered for a specific purpose
- secondary research: information gathered for another purpose
¨ identify sources of marketing research information:
- primary research: questionnaires, interviews, observations, surveys
- contact methods: telephone, face-to-face, mail, email, internet etc
- secondary:
- internal: sales records, customer registration cards, occupancy figures etc
- external: government statistics, tourists office statistics or surveys, trade
- journals, professional organizations
¨ plan marketing research:
- setting objectives
- select suitable research methods
- carry out research
- summarize findings
¨ use marketing research findings to make decisions about products, customer service, markets and marketing strategy
¨ recognize appropriate marketing objectives
¨ assess how well the marketing strategy has
- identified and reviewed the “product” bundle (augmented product), and its Unique Selling Proposition (USP)
- planned the product development process, taking note of the position of products on the product life cycle curve and the effects of the diffusion of innovation curve
- developed a pricing strategy to reflect customer sensitivity, competitive pricing and sector practice
- measured market penetration
- selected appropriate promotional media and their associated costs
¨ assess the suitability of these elements of the marketing strategy and their likely effectiveness in achieving the defined objectives
Learning Resources
Kotler P. and Armstrong G (2006) Principles of Marketing, 11th ED, Pearson Prentice Hall.
Assessment:
The world-processed report, of approximately 600 to 1,000 words, which contains an evaluation of marketing strategy for a product and/or service within an organization. It should include:
¨ Identification and assessment of the appropriateness of the marketing objectives for the organization’s market or market segments
¨ A review of any market research activity and its utility in shaping marketing strategy
¨ A review of the purpose and likely effectiveness of the marketing functions
¨ Conclusions and fully costed and justified recommendations to improve the marketing strategy
Plagiarism
Students are asked to note the following College policy on plagiarism.
The College assumes students are honest and expects from students honest work in all their assignments. Good scholarship necessarily requires building on and borrowing from the work of others but this use must be acknowledged. Cheating, plagiarism, and falsification of data are dishonest practices which contravene academic values of respect for knowledge, scholarship and scholars. These practices devalue the quality of learning, both for the individual and for others enrolled in the course; they also finish the reputation of a College course. The College imposes strict penalties on students who are found to contravene the College plagiarism policy.
“Do not plagiarize. You will receive a “F” if you plagiarize materials directly from other authors (from books, internet or any other sources). However, you may quote and give credits to other authors, but you must not plagiarize.”
Credit:ivythesis.typepad.com
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