MRKT 233 - Principles of Marketing

3 Credit: (3 lecture, 0 lab, 0 clinical) 3 Contact Hours:

1. Explain pricing strategies, such as EDLP, high/low, cost-orientated, demand-orientated, and competition-orientated pricing.
2. Identify pricing strategies suited for a firm’s marketing priority, product life cycle, and/or competition.

Goal 2:  Describe the Promotion Mix.

1. Evaluate promotion strategies.
2. Compare advertising and promotion.
3. Compare public relations and publicity.
4. Contrast push and pull strategies.
5. Define brand loyalty.
6. Explain Consumer touch points.

​Goal 3:  Examine the Product Mix.

1. Define products.
2. Differentiate between products and services.
3. Describe the new product process.
4. Diagram the product life cycle.
5. Define product differentiation.
6. Identify product positioning.
7. Differentiate between depth and breadth of merchandise.

Goal 4:  Describe the Place Mix.

1. Define logistics.
2. Explain the concept of place/distribution.
3. Explain the intermediary’s functions.
4. Explain supply chain management.
5. Explain logistics.
6. Differentiate between push and pull logistics strategies.
7. Explain freight forwarders.
8. Analyze the benefits of selecting a good geographic location, considering trade areas, under/over stored areas, and primary, secondary, and tertiary zones.
9. Define a trade area.
10. Define an under-stored trade area.
11. Define visibility.
12. Differentiate between the primary zone, secondary zone, and tertiary zone.
13. Differentiate between a destination store and a parasite store.

Goal 5:  Demonstrate the creation of a Marketing Plan.

1. Explain the strategic marketing process.
2. Define the marketing plan.
3. Demonstrate a SWOT/TOWS analysis.
4. Describe appropriate marketing attack strategies.

Goal 6:  Explain why employing ethical conduct is important in marketing.

1. Differentiate between ethics and laws.
2. Describe the importance of using ethical behavior.
3. Explain the Consumer Bill of Rights.
4. Define a code of ethics.
5. Define whistle-blowers.

Goal 7:  Analyze how retailers create value for consumers.

1. Define retailer.
2. Explain the functions performed by retailers.
3. Define the retail mix.
4. Compare various types of retail formats used in the marketplace such as supercenters, superstores, warehouse clubs, convenience, and department stores.
5. Define e-tailing.
6. Explain the differences between services and merchandise.
7. Explain franchising.
8. Define the retailing concept.

Goal 8:  Compare methods of obtaining information used in marketing.

1. Define marketing research.
2. Implement the steps of marketing research.
3. Differentiate between primary and secondary data.
4. Explain observational data.
5. Define questionnaire data.
6. Identify problems in wording questions.

Goal 9:  Compare different ways to segment consumer markets.

1. Define target markets.
2. Define market segmentation.
3. Identify the steps of market segmentation.
4. Define demographics.
5. Distinguish between demographic, lifestyle, and psychographic segmentation.
6. Demonstrate market segmentation.

Goal 10:  Explain the role of marketing communication in enhancing customer service

1. Explain customer relationship management.
2. Explain why effective communication is needed to retain customers.
3. Identify different communication mediums used in the marketing process.
4. Define customer service and its role in marketing.
5. Develop a marketing customer service plan.
6. Examine management’s role in supporting internal and external customers.
7. Explain the importance of understanding consumer needs.
8. Demonstrate questioning techniques designed to identify customer needs.
9. Identify the steps in the sales process.
10. Diagram the CRM cycle.
11. Diagram the mass communication model.