100% online course
This course will provide you with a basic understanding of the character and scope of marketing and its role in business operations. You will be introduced to the concepts and techniques a business must employ to anticipate and satisfy consumer needs. Emphasis is placed on the tools available to the marketing manager and the problems to be confronted.
On completion of this course you should have a good understanding of the types of decisions that marketing managers have to face. Furthermore, because of the exercises that you are required to do, the course provides an opportunity to develop a firm grasp of how these problems can be resolved. In this way, through reading, thinking and practice, you will be equipped to make marketing decisions. For some of you currently involved in marketing activities, this knowledge will provide an immediate payoff. Others will simply benefit from having a better understanding of marketing.
The course begins with a definition of marketing. Many equate marketing with selling, while others immediately think that marketing is simply advertising. As we will discover, both views are misguided. Our discussion next turns to the various environmental factors that affect company-marketing activities. These factors either present threats to, or opportunities for, marketing activities. For example, whereas heating oil supply companies have been threatened by raising all prices, insulation firms have grasped the opportunity to sell increasing amounts of insulation materials. Buying behaviour is a crucial concern for marketing managers. It is doubtful that a firm can be consistently successful unless it understands who its buyers are and why they buy the way they do. This applies whether the buyer is a teenager, homemaker, or an industrial purchasing agent.
Once opportunities have been identified, the remainder of the course is concerned with typical areas for marketing decision-making. Marketing managers spend a good deal of time drawing up marketing plans, considering how their products or services might be improved, or how their prices might be changed. Product and service promotional and distribution activities are important. When all of these decisions have been implemented, it is then necessary to monitor the marketing activities of the firm.
Topics covered are:
- Marketing: What Is It?
- The Marketing Environment
- Consumer Behaviour
- Market Research
- Product/Service Development
- Channel Systems
- Integrated Marketing Communications
- Advertising and Sales Promotion
- Pricing Concepts and Strategies
- Strategic Planning, Control and Evaluation