Marketing is arguably the primary business function; it is at the heart of all organizational activity at operational and strategic levels and is necessary in the achievement of organizational goals. As a result, an understanding of the concepts and role of marketing management is fundamental to any business program.
This Principles of Marketing course provides students with an introduction to the role of marketing and the principles and challenges involved in developing successful marketing programs. Students will be taken from an introduction to the role of marketing in the organization through the principle tools of marketing and finish the course examining the wider social and ethical implications of marketing.
Through a series of cases, examples, and readings, we will examine how important the role of marketing is in the modern day organization and how it permeates most aspects of our lives. Furthermore, we will have the opportunity to analyze how the function of marketing has evolved over time driven by factors such as the changing nature of the consumer, globalization, technology and socio-cultural factors.
While this course imparts the traditional concepts of managing the marketing mix with a balanced focus on the consumer and the competitor, it also examines more innovative and often more aggressive promotional strategies that have emerged in the digital era.
GD003 is the introductory course for the marketing area in the degree programme. Subsequent courses include: Marketing Management; Integrated Marketing Communication; Marketing Simulation; Channel Management; as well as the elective courses in the Digital Marketing minor.
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This course seeks to assist you in:
. Developing a broad definition of marketing and the marketing concept.
. The evolution of marketing from the production to the selling and recent marketing concept
. Understand the main threats and opportunities in the marketing environment.
. The technological, economic, competitive, political, demographic and cultural influences on the practice of marketing
. Identifying, and assessing the role of consumer behaviour marketing.
1) Identifying the changing role of the consumer.
2) Assessing influences over the consumers purchasing decisions
. Developing an awareness of the role of marketing research in making effective marketing decisions
. Taking strategic and the operational decisions.
. Identifying the strategic role of segmentation particularly in an environment when the customer is increasingly complex.
. Understanding the importance of Brands in the strategic proposal.
. Developing operational activities to set up the strategy proposed.
. Identifying the ethical challenges associated with the application of the marketing programs
. Understanding the basic contents and structure of a marketing plan
. Identify the use of digital marketing in general marketing and its relevance for marketeers today.
Below you can find the main topics that will be covered. The order in which they are covered will vary, but each topic is directly connected to a chapter from the required text.
Topic 1:
Introduction to the Marketing Concept
Welcome and Introduction to the Course
Discussion of basic marketing concepts and course evaluation
Strategic vs Operational Marketing
Topic 2:
Marketing Orientations.
Factors Influencing the marketing orientation.
Marketing first Strategic Decision to take: In which business you are?
Topic 3:
Analysis: Consumer Behaviour
The buying decision process and factors influencing it (BDP and DMU)
The digital consumer
Topic 4:
Analysis: Marketing Environment
Environmental Factors (PESTEL analysis).
Digital era and how is changing the mktg process.
Analysis: Marketing Competition
Benchmark analysis.
Diagnostic.
Diagnostic and determine strategic alternatives
Topic 5:
Marketing Research
Research process.
Topic 6:
Segmentation & Targeting
Segmenting and targeting the market effectively
Topic 7:
Value Proposition & Branding
The Brand as part of the company strategy.
Build brand in the digital era
Topic 8:
Products and Services
Product and service definitions and development
Topic 9:
Pricing strategies
How to create effective pricing strategies
Topic 10:
Distribution
Logistics, Retailing & Selling Direct to the Customer.
E-Commerce
Topic 11:
Promotion
Advertising, Public Relations, Sales Promotions & Direct Selling.
Unconventional Marketing Strategies
Guerilla Marketing, Product Placement & Ambushing Competition
Topic 12:
Marketing Plan
How to build a Marketing Plan.
Marketing Trends
Trends for the future.
The learning experience is based on a range of teaching methods that seek to foster your understanding of the marketing function. The classes will be dynamic only if students come to class prepared and willing to contribute to class discussion.
The classes will concentrate on the principle marketing concepts, readings and case studies that you will be required to do outside class time as well as in-class discussions. We will also draw on a vast array of multimedia sources such as videos, podcasts and blogs to supplement written material.
Course Grading:
Participation 15% (including preparation of homework or required case presentation)
Assignments 30%: Group assignments
Midterm exam 20%: In class and paper
Final Exam 35%: in class and paper
The final exam must be passed with an overall grade of 50% and if not, students should do a retake exam, and if so, the maximum mark they can get it 50%. Retake date will be announced after the exam*
** Part of the questions of the final exam will be based on the following book: Buyology: Truth and Lies About Why We Buy, Martin Lindstrom, (Doubleday, 2008).
By the end of the course, students will be able to:
. Understand and apply the main concepts of marketing.
. Identify the main changes produced in marketing by the digitalization of the economy.
. Know how to defend and argue with data and contrast information that has been discussed in class.
. Identify, analyze, and implement marketing strategies.
. Learn to use qualitative and quantitative company data.
In addition to the cases we will be discussing in class, you will be provided with a range of additional materials through the University intranet. You may also be requested to search for particular readings in the library databases.
Mandatory book
Buyology: Truth and Lies About Why We Buy, Martin Lindstrom, (Doubleday, 2008).
**Part of the final exam will be based on questions related to this book.
Recommended Textbook
Principles of Marketing 19ed– Kotler & Armstrong – Pearson.
This textbook is used as the basic text for any marketing course
It is easy to use and includes many useful case studies highlighting the main marketing concepts
Other sources
* Lindstrom, M. (2009). Buyology: Truth and lies about why we buy. Doubleday.
* http://www.marketingweek.co.uk – marketing industry web from the UK (deals with major marketing trends, actions from Europe as well as other international markets)
* http://www.businessweek.com – general business web but has a strong marketing focus (US oriented)
* htpp://www.fastcompany.com – the internet home of Fast Company Magazine featuring innovative ideas, people, and companies
* http://www.marketingpower.com – American Marketing Association Website
* http://www.marketingsherpa.com – practical guide to implementing marketing strategies
* http://www.adage.com – information and insight into the advertising industry
* http://www.mplans.com – resources on marketing plans
Recommended MOOCs
The following Coursera course is recommended for students wishing to complement their studies during this course from Wharton (University of Pennsylvania):
https://www.coursera.org/course/whartonmarketing