Course Description
Examines the tools and techniques of managing marketing activities as well as an analysis of the marketing process. Emphasizes decision-making, the refinement of skills needed to recognize and solve marketing problems, and effective communication of recommendations.
Course Objectives
Upon completion of this course, students should be able to
- Learn how to use the marketing mix to facilitate exchanges
- Learn more about the importance of the consumer and developing a long lasting relationship with them and all business partners
- Learn to research and interpret the marketing environment
- Examine and critique the practices of real world organizations and offer suggestions for areas of improvement
- Learn the fundamentals of management and strategy development with global competition in mind
- Learn how to apply a more market-oriented philosophy focused on consumer needs and competitive threats
- Learn how to communicate clearly and concisely
- Learn about the consequences of decisions through a marketing simulation game
Week 1
Lecture: Marketing Overview
Outcomes
- Understand how extensive marketing is a tool for management
- Consider businesses within the context of the market-oriented philosophy
- Be able to defend why Marketing is so much more than just sales and advertising
- Become familiar with the TMG simulation and gain experience making decisions and seeing the outcome of decisions
Week 2
Lecture: Marketing Strategy
Outcomes
- Assess your internal and external environment
- Begin with the internal environment and determine your SWOT
- Clarify your core competency
- Explore your marketing environment and the situation analysis
- Learn to define objectives and begin to build your strategy (marketing plan)
- Exercise your decision-making skills through the utilization of the cues within the simulation and the application of your logic
Week 3
Lecture: The Importance of Market Research
Outcomes
- Recognize that information is potential power and necessary for proactive decision-making
- Determine your research questions
- Learn the importance of research design and survey creation
- Refine objectives and adjust your strategy
- Experience decision making within the simulation
- Be organized in your approach to the marketing plan tasks
- Learn how to do a situation analysis and a competitive analysis
Week 4
Lecture: Buyer Behavior
Outcomes
- Understand customer value, satisfaction and attitude
- Learn about the importance of relationships
- Know the steps in the decision making process
- Understand the many influences on decision making:
- Psychological
- Situational
- Social
Week 5
Lecture: Segmenting Markets and Create Brand Value
Outcomes
- Learn when a firm should segment
- Learn how a firm can segment
- Understand the importance of targeting
- Learn what branding is
- Understand what brand equity is and how to defend it
- Learn about different branding strategies
- Understand the meaning of POP and POD
- Understand how positioning fits into overall strategy
Week 6
Lecture: Creating the Product
Outcomes
- Understand factors leading to switching behavior
- Distinguish goods from services
- Learn about the complexities of maintaining service quality
- Learn about managing the product and the importance of packaging
- Understand how to use the product life cycle information
- Learn the steps in developing a new product
Week 7
Lecture: Pricing the Product
Outcomes
- Learn the steps in developing pricing strategy
- Learn about a number of pricing tactics
- Understand what a market channel is
- Learn the many functions a channel member can perform
- Explore channel alternatives
- Learn about channel management through integration and systems
- Learn about managing channel conflict
- Explore the possibilities and the challenges of the Internet as a channel
Week 8
Lecture: Integrative Marketing Communications
Outcomes
- Be able to discuss the eight modes of communication
- Understand the complexities of encoding and decoding within communications
- Learn the overview of the communication strategic process
- Learn the objectives and be able to discuss the various communication strategies
- Explore the detail of a creative brief
- Learn the complexities of strategy effectiveness measure, and the importance of research before, during and after your communication strategy
The course description, objectives and learning outcomes are subject to change without notice based on enhancements made to the course. May 2011
