MGT 243 - Principles of Marketing

Credits: 3
Instructional Contact Hours: 3

Explores the marketing process and examines the range of marketing decisions an organization must make to sell its products and services. Focuses on the purchasing process, consumer and business-to-business marketing, internal and external environmental factors, and strategic marketing. Emphasizes the marketing concept including strategies involving product, price, promotion and distribution.

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.
Corequisite(s): None
Lecture Hours: 45 Lab Hours: 0
Meets MTA Requirement: None
Pass/NoCredit: Yes

Outcomes and Objectives

Indicate an understanding of marketing management
1. Explain the marketing process
2. Define the marketing mix
3. Explore the components of the domestic and global marketing environments
4. Explain the relationship between value, customer satisfaction, and quality
5. Discuss ethical marketing practices
Demonstrate an understanding of strategic planning in marketing

Identify the steps in the marketing planning process
Discuss the purpose of the marketing plan
Examine the marketing plan process using metrics

3. Understand the marketplace

Differentiate between the consumer market and the business market (B2B)
Identify factors that influence buyer behavior
Examine the purchasing decision process

4. Examine market segmentation, targeting, and positioning

Discuss the role of market segmentation in developing a marketing strategy
Identify the steps in the market segmentation process
Differentiate between segmentation in the consumer market vs the B2B market
Explain target market selection
Describe product positioning

5. Examine marketing research

Outline the steps in the marketing research process
Discuss the methods for collecting data

6. Understand the role of product strategy in the marketing mix

Differentiate between products and services
Discuss marketing strategy with respect to the product life cycle
Classify consumer and business products
Discuss the components of brand management
Discuss the components of new product development

7. Understand the role of distribution in the marketing mix

Discuss the role that distribution plays in marketing strategy
Explore the distribution channels available to marketers
Explain the factors influencing channel choice

8. Understand the role of integrated marketing communication in the marketing mix

Discuss the components of the promotion mix
Explore the promotion mix channels available to marketers
Explore social media marketing

9. Understand the role of price in the marketing mix

Discuss pricing strategies
Explore the procedure for establishing pricing policy