The content, assignments, and assessments for Principles of Marketing are aligned to the following learning outcomes. A full list of course learning outcomes can be viewed here: Principles of Marketing Learning Outcomes.
Module 1: What Is Marketing?
Explain what marketing is and how it’s used
- Define marketing
- Identify evidence of marketing in everyday life
- Demonstrate a clear understanding of the marketing concept
- Describe the role of marketing in building and managing customer relationships
- Describe how different types of organizations, such as nonprofits, consumer product (B2C) firms and business-to-business (B2B) organizations, use marketing
- Explain how marketing creates value for the consumer, the company, and society
Module 2: Marketing Function
Identify the primary marketing activities of an organization
- Explain why the customer is the cornerstone of marketing
- Briefly explain the concepts of segmentation and targeting
- Describe the marketing mix
- Explain how organizations use the marketing mix (often called the four Ps) to market to their target customers
- Explain the role of a marketing plan as a guiding document for marketing activities
Module 3: Segmentation and Targeting
Determine market segments and target customers
- Explain the purpose of segmentation and targeting in marketing
- Describe common segmentation approaches
- Explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities
- Explain how targeting influences each element of the marketing mix
Module 4: Marketing Strategy
Determine market segments and target customers
- Evaluate how marketing strategies align with corporate strategies
- Explain the inputs and components of a marketing strategy
- Show how common analytic tools are used to inform the organization’s strategy
- Give examples of corporate strategies
- Explain how the development and maintenance of customer relationships are an essential part of an organization’s marketing strategy
Module 5: Ethics and Social Responsibility
Apply principles of ethics and social responsibility in marketing
- Describe the types of ethical and social responsibility issues that marketing must address
- Explain the laws that regulate marketing
- Explain how ethical dilemmas in business-to-business marketing differ from those in consumer marketing
- Outline measures companies take to encourage ethical behavior
- Explain how demonstrating corporate social responsibility can impact marketing
Module 6: Marketing Information and Research
Use marketing information and research to develop marketing strategies for organizations
- Explain the role of marketing information in helping firms understand and reach consumers
- Describe the key types of marketing information including internal data, competitive intelligence and marketing research
- Outline a standard process for using marketing research to address an organization’s strategic questions
- Recognize alternative methods for conducting marketing research, including primary and secondary research methods
- Identify major sources of available market data
- Explain how Customer Relationship Management (CRM) systems can help organizations manage and gain customer insights from marketing information
- Use marketing information to inform the marketing strategy
Module 7: Consumer Behavior
Use information about consumer behavior to inform marketing strategy and tactics
- Describe the stages of the consumer buying process
- Explain the different buying processes for low-involvement and high-involvement decisions
- Describe the major factors that influence consumer purchasing decisions
- Explain the B2B buying process and key factors influencing B2B purchasing decisions
Module 8: Positioning
Create a product or service positioning statement that aligns with a value proposition and a target segment
- Define positioning and differentiation, and why they are important to marketing a product or service
- Explain the process of selecting a positioning and differentiation strategy
- Develop and evaluate positioning statements based on defined criteria
- Explain repositioning and the associated risks and complexities of repositioning a product or service
- Describe the process of implementing a positioning strategy
Module 9: Branding
Analyze elements of a brand and explain how the brand-building process contributes to the success of products or services
- Describe the elements of brand and how brands add value to an organization’s products and services
- Define brand equity and its role in measuring brand strength
- Explain the how marketers use brand positioning to align marketing activities and build successful brands
- Explain the importance of name selection in the success of a brand
- Discuss the role of packaging in the brand-building process
- Explain key strategies for developing brands including brand ownership, brand and line extensions, co-branding and licensing
Module 10: Product Marketing
Make product marketing decisions based on product life cycle and product portfolio structure
- Explain what a product is and the importance of products in the marketing mix
- Discuss the product life cycle and its implications for marketing
- Explain product portfolio management and how it relates to the organization’s marketing strategy and tactics
- Define the process for creating new products
- Identify the challenges associated with creating a successful new product
Module 11: Pricing Strategies
Use pricing strategies to enhance marketing of products and services
- Discuss how price affects the value of the organization’s products or services
- Explain the primary factors to consider in pricing
- Compare common pricing strategies
- Explain price elasticity and how it can be used to set price
- Explain the use of competitive bidding for B2B pricing
Module 12: Place: Distribution Channels
Evaluate how to use distribution channels to market an organization’s products and services effectively
- Explain what channels of distribution are and why organizations use them
- Explain how channels affect the marketing of products and services
- Describe types of retailers and explain how they are used as a channel of distribution
- Explain how integrated supply chain management supports an effective distribution strategy
Module 13: Promotion: Integrated Marketing Communication (IMC)
Demonstrate how organizations use integrated marketing communication (IMC) to support their marketing strategies
- Explain integrated marketing communication (IMC) and its connection to the organization’s marketing strategy
- Discuss how to develop effective messaging for marketing communications
- Explain factors to consider when selecting marketing communication methods to execute the strategy
- Describe common methods of marketing communication, their advantages and disadvantages
- Explain how IMC tools support the sales process
- Describe the uses of Customer Relationship Management (CRM) systems for marketing communication purposes
- Explain common tools and approaches used to measure marketing communication effectiveness
- Create a marketing campaign and budget using multiple IMC tools to execute a marketing strategy
Module 14: Marketing Globally
Identify issues that organizations face and approaches they use when marketing to different countries and cultures
- Describe globalization and the major benefits and challenges it poses for multinational organizations penetrating global markets
- Describe common approaches used by organizations to compete successfully on a global scale
- Explain the importance of understanding how demographic, cultural and institutional factors shape the global marketing environment
Module 15: Marketing Plan
Develop a marketing plan
- Identify the key elements of the marketing plan
- Present a marketing plan
- Explain how the marketing plan is used by marketing and the overall organization