Nov 30, 2020
MGT 243 - Principles of MarketingCredits: 3
Instructional Contact Hours: 3
Provides an understanding and interpretation of the marketing system and its importance in the economy and the place of the marketing function in business management. Establishes a basic understanding of the psychological, environmental, and managerial functions and presents processes that are employed in contemporary marketing.
Prerequisite(s): ENG 111 or OAT 151 either with a minimum grade of "C". CST 147 is recommend for those needing to learn Power Point. MGT 153W is also recommended
Lecture Hours: 45 Lab Hours: 0
Meets MTA Requirement: None
Outcomes and Objectives
- Demonstrate an understanding of developing relationships with customers.
- Explain how marketing creates utility
- Define the marketing concept
- List three reasons for studying marketing
- Demonstrate an understanding of ways to create value through customer satisfaction and quality.
- Explain the relationship between value, customer satisfaction, and quality
- Identify the major components of customer satisfaction.
- List the goals of internal marketing
- Explain the primary methods by which marketers measure customer satisfaction.
- Describe the historical development of the quality movement.
- Outline the objectives of a marketing audit.
- Discuss the benchmarking process and its role in improving a marketing strategy
- Discuss how marketing managers can deliver value to customers by balancing the marketing mix elements.
- Demonstrate an understanding of the marketing environment, ethics, and social responsibility.
- Identify the five components of the marketing environment
- Describe the types of competition that marketers face and the steps they take to develop competitive strategies.
- Discuss how the government and other groups regulate marketing activities
- Describe the impact of technology on the firm's marketing activities.
- Demonstrate an understanding of the global dimensions of marketing.
- Describe the importance of international marketing from the perspectives of the individual firm and the nation.
- Identify the major components of the environment for international marketing.
- Compare alternative strategies for entering international markets.
- Discuss the attractiveness of the U.S. market as a target for foreign marketers.
- Demonstrate an understanding of marketing planning and forecasting.
- Distinguish between strategic planning and tactical planning.
- Identify the steps in the marketing planning process.
- Describe the concept of SWOT analysis and its four major elements.
- Identify the major types of forecasting methods.
- Discuss the steps in the forecasting process.
- Demonstrate an understanding of marketing research.
- List the steps in the marketing research process
- Discuss the different sampling techniques used by marketing researchers.
- Differentiate between the types and sources of primary and secondary data
- Identify the methods by which marketing researchers collect data.
- Demonstrate an understanding of market segmentation, targeting, and positioning.
- Identify the essential components of a market
- Discuss the role of market segmentation in developing a marketing strategy.
- Describe the criteria necessary for effective segmentation.
- Identify the steps in the market segmentation process.
- Demonstrate an understanding of consumer behavior.
- Differentiate between buyer and consumer behavior
- Explain how marketers classify behavioral influences on consumer decisions.
- Discuss the steps in the consumer decision process.
- Demonstrate an understanding of business - to - business marketing.
- List the components of the business market
- Describe the major approaches to segmenting business-to-business markets.
- Identify the major characteristics of the business market and its demand
- Describe the major influences on business buying behavior
- Demonstrate an understanding of relationship marketing.
- Contrast relationship marketing with transaction based marketing.
- Identify and explain each of the core elements of relationship marketing.
- Explain the role of databases in relationship marketing.
- Demonstrate an understanding of product strategy.
- Explain the broader marketing view of products.
- List the classifications of consumer products.
- Describe the types of business products.
- Explain the concept of the product life cycle.
- Demonstrate an understanding of brand management and new-product planning.
- Describe the benefits of branding and brand management
- Describe the different types of brands
- Explain the value of brand equity
- List the stages in the new-product development process
- Demonstrate an understanding of marketing of services
- Differentiate service offerings from goods
- Identify the primary characteristics of services
- Explain the concept of service quality
- Demonstrate an understanding of distribution
- Describe the role that distribution plays in marketing strategy.
- Describe the various types of distribution channels available to marketers.
- Demonstrate an understanding of logistics and value chain management.
- Explain the role of logistics in an effective marketing strategy.
- Describe the impact of transportation deregulation on logistics activities.
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