BUS 2004 - Principles of Marketing
3 Credits
Provides an overview of the marketing process and examines the role of government, the marketing environment, consumer behavior, and the marketing function within an enterprise. Students will learn how to develop and implement an effective marketing plan which includes identification of target markets and the utilization of the appropriate marketing mix (product, price, promotion, and distribution). The course also covers essential marketing concepts and terminology such as positioning, segmentation, relationship marketing, marketing information systems, etc.
Major Content Areas
Product development and management for consumers, businesses, and non-profits. 10% Application of marketing concepts to the real-world through the development of a marketing plan. 20% Supply chain management fundamentals, including channel members, product title, and enterprise-wide applications used in modern organizations to deliver value throughout the distribution channel. 10% The marketing environment, including strategic planning, ethics, and developing a global vision which includes a marketing mix strategy. 10% Market segmentation and target market identification. 10% Marketing research techniques for the external environment, including industry, competitors, the economy, and government regulations. 10% Marketing decision-making, including consumer decision making, and business decision making processes. 10% Pricing concepts and techniques which capture value for both small and large organizations. 10% Marketing communication, including advertising, sales promotions, social media, and presentations. 10%
Learning Outcomes
Perform segmentation analysis by incorporating demographics, geography, lifestyle and other factors. Create a marketing mix (product, price, place, promotion) for target markets. Understand the ethical and social responsibility issues surrounding the marketing function within both small and large organizations. Access market opportunities through industry research and the external environment, including, competitors, technology, and government policies. Identify steps consumers and organizations use throughout the buying process. Understand the elements and techniques of strategic planning. Select target markets from market segmentation analysis which offer the potential for high investment returns. Develop a professional marketing plan for use in real-word situations, which incorporates the following components: Executive Summary, Industry Analysis, Segmentation Approach, Target Market Identification, Marketing Mix, Sales Forecast, and Implementation and Control.
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