Apr 22, 2024  
2022-2023 College Catalog 
    
2022-2023 College Catalog [ARCHIVED CATALOG]

MKT 111 - Principles of Marketing

3 Credits, 3 Contact Hours
3 lecture periods 0 lab periods

Introduction to marketing communication, principles, and strategies. Includes global diversity in the marketing environment, product classification, pricing considerations, distribution of products/services, and promotion using traditional and social media strategies.

  button image Prior Learning and link to PLA webpage

Course Learning Outcomes
  1. Explain each element of the Marketing Mix (product, price, place/distribution, and promotion) within the context of satisfying a chosen target market.
  2. Apply the consumer decision making process noting its effect on purchasing consumer goods.
  3. Recognize the way the Marketing Mix can play an integral part in the success of a good or service.
  4. Interpret how traditional marketing communication methods are represented in social media marketing.
  5. Discuss recent and past ethical dilemmas that arise for a business and explain the role that marketing and sales plays in upholding a company’s social and ethical responsibilities.
  6. Identify the various distribution channels for consumer and business goods, recognizing the advantages and disadvantages of each in relation to the consumer’s wants and needs.

Outline:
  1. Introduction to Marketing Principles and Environment
    1. Strategic planning
    2. The marketing environment
    3. Marketing ethics and social responsibility
    4. Global dimensions of marketing
  2. Researching Consumers and Markets
    1. Consumer decision-making and behavior
    2. Segmenting and targeting markets
    3. Conducting market research and identifying resources
  3. Product Strategy
    1. The product lifecycle and portfolio matrix
    2. Branding, brand management, and brand equity
    3. Classification of consumer goods (convenience, shopping, specialty, and unsought)
  4. Pricing Strategy
    1. Price as an image of a product/service
    2. Price as a source of revenue to cover costs
    3. Acceptable price ranges in the marketplace
    4. Up-selling and product bundling
  5. Place/Distribution of Products/Services
    1. Understanding distribution channels
    2. Logistics and supply chain management
    3. Comparing modes of transportation
  6. Promotional Strategies (Marketing Communication Mix)
    1. Advertising
    2. Social media marketing
    3. Public relations and events
    4. Personal selling