Marketing

The following learning targets represent the major concepts studied and assessed in this course.

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Semester 1

Unit 1 - Marketing Basics

• Describe marketing functions and related activities 
• Explain the concept of marketing strategies 
• Explain the concept of market and market identification
• Demonstrate honesty and integrity
• Demonstrate responsible behavior
• Demonstrate ethical work habits
• Explain the nature of managerial ethics
• Describe the need for and impact of ethical business practices

Unit 2 - Consumer Behavior

• Describe two types of consumers of interest to marketers.
• Define consumer wants and needs
• Identify the three categories of buying motives.
• Describe the five steps of the consumer decision-making process.
• Describe important influences on the consumer decision-making process
• Explain how consumers and businesses use each of the three types of decision making.

Unit 3 - Competition

• Describe the benefits and categories of market segmentation.
• Explain how to identify market segments and determine their potential.
• Explain the various bases for positioning a product to distinguish it from the competition.
• Describe the three common positioning strategies.
• Distinguish between direct and indirect competition.
• Distinguish between price and nonprice competition.
• Describe the benefits of competition to consumers.
• Discuss the types of information businesses need to know about their competitors.
• Describe how businesses collect market intelligence.

Unit 4 - Marketing Information and Research

• Understand  the need for Marketing information
• Find and manage marketing information
• Explain types of primary marketing researches
• Identify sources of primary and secondary data
• Use marketing research to make decisions
• Collect primary and secondary data.

Semester 2:

Unit 5 - Product & Services

• How do customers’ experiences with products that fail to meet their needs affect how they satisfy the same needs in the future?
• How do all the parts of the product mix elements - including features, enhancements, accessories, and even packaging - offer greater satisfaction to consumers than would be possible with just the basic product?
• How will marketing be similar or different if a company’s target market is made up of businesses rather than individual customers?
• What activities does a business need to complete in order to develop and bring a new product to market?
• Why are service businesses growing more rapidly than goods-producing businesses?
• What unique characteristics of services need to be considered when completing marketing planning?
• What types of standards might a business use to determine if its customers are satisfied with the services provided?
• How do customers arrive at the decision to use a particular service rather than competitors’ services, an alternative service, or no service at all

Unit 6 - Distribution (Place)

• What do customers expect from an effective distribution system when they purchase a product? What do the businesses that use a distribution system to get products to customers expect from that system?
• How can the use of other businesses in a distribution channel improve the efficiency and effectiveness of the exchange process between the producer and its customers?
• Why is it difficult for many businesses, especially those that are small, to deal directly with producers and manufacturers to obtain the products they need?
• What factors lead to changes in the way retailers must operate today to remain competitive?
• How do the type and characteristics of a product affect the decisions made when planning physical distribution?

Unit 7 - Promotion

• Identify the promotion function as part of the marketing mix.
• Identify the eight elements of the communication process.
• Explain the three roles of promotion in marketing.
• Explain the advantages and disadvantages of advertising as a type of promotion.
• Describe the ways public relations can be used to generate publicity.
• Identify the benefits and drawbacks of using personal selling to promote a product or service.
• Explain the advantages and disadvantages of using short-term incentives such as sales promotions.
• Identify the two types of communication that are important to marketers.
• Explain the five major factors that affect the promotional mix.
• Describe the seven steps in the promotional planning process
• Distinguish between product advertising and brand advertising
• Identify common creative advertising formats.

Unit 8 - Pricing and Economics

• Explain the reasons why price is an important marketing tool. 
• Demonstrate how the economic concept of elasticity of demand relates to pricing decisions. 
• Describe three ways in which the government influences prices.  
• Describe three common pricing objectives for businesses.
• Explain how businesses establish a price range for a product.
• Identify the three components that must be considered when determining the selling price. 
• Identify two marketing tools related to competitive conditions that help marketers set prices.
• Describe the criteria businesses use in establishing the final price a customer pays.
• Explain why extending and managing credit is an important part of marketing.