MARKETING FUNDAMENTALS

X8MARK

MARKETING FUNDAMENTALS

Course schedule :

→ Introduction to Marketing

→ Market analysis

→ Consumer Behavior

→ Segmentation, Targeting and Positioning

        MID-TERM EXAM

→ Marketing Mix (1)

→ Marketing Mix (2)

→ Branding

→ Digital Marketing

→ Current marketing trends

→ Market research

        FINAL EXAM

CHAPTER 1: INTRODUCTION TO MARKETING

Be different of the competitors

Advertising is a very important part of the marketing

Introduction :

The role of marketing as a fundamental business discipline and....

….. The primary contact point between an organization and its costumers ...

…. How companies can create value for the customers.

→ Marketing shows what the market needs and what the market wants.

→ Marketing is about making people happy.

→ Client wants value, the job of marketers is to create value for their customers.

Course objectives:

Understand:

• Fundamental marketing terms, concepts, principles, and theories
• Their applications to real-world situations in a global market
• The role of marketing in organizations
• Relationship between marketing and other business disciplines

Aimed skills: 

• Ability to translate a management problem into a feasible research problem
• Workplace skills – cooperation, teamwork, meeting deadlines and report writing
• Problem analysis skills

Grading and assessment: 

• Group project – case study analysis → produce a written report and present it.
• Final exam – written test

        Assessment:

→ Group project deliverables:

• Short report summarizing the findings
• Group presentations
• Short one-on-one questions

→ Final Exam:

• Combination of multiple choice and open-ended questions.

Group project – 8 grade points

1. Five page report sent one week before the exam

2. Power Point / prezi presentation:

         15 min per group

                10 min for group presentation, 5 min for one-on-one questions.

Grading criteria :

• Organization and structure
• Application of course content
• Quality report / slides
• Quality of the analysis, conclusions and recommendations
• Professionalism and time management

Final Exam – 12 grade points : 26th April

• Four open-ended questions (two points maximum per question, total of 8 points)
• Six multiple-choice questions (one point maximum per question)

GROUP PROJECT:      

        Enhancing the following skills:

• Active learning
• Time management
• Teamwork and collaborative efforts
• Communication and leadership skills

→ Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large (AMA).

→ Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires (Philip Kotler).

Needs in marketing means that you will use the product to satisfy a need.

Creating a value: the produce would benefit. Marketers create value to attract customers.

Marketing involves :

→ Deep understanding of customer needs

→ Satisfying those needs with something real / genuine

→ Acquiring & retaining customers. (Acquiring customers is very expensive for a company → you become a loyal customers)

→ Choosing a customer segment (can't satisfy everyone)

→ Positioning a brand to meet customer needs

→ Differentiating from competitors

Apple : innovation, young, successful → creating brand community.

→ Understanding “customer value”

→ Customer loyalty → become ambassadors.

→ Branding … key element to retain customers

→ Choosing a suitable price (best price doesn't mean cheaper) → lot of customers associate price to quality.

→ Making products available through distribution channels → Giving access to the products

→ Using promotion to build awareness and motivate purchase → Tell people there are new products : advertising, sells promotion.

→ Broad marketing thinking that enables organization to develop products in the right direction, consistent with overall corporate objectives...

→ A description of products or services, a profile of target users or clients, and of a company's position in relation to the competition.

→ Marketing strategy comes from analyzing:

Your strengths &  weaknesses

Customers

Competitors

Suppliers / partners

Business environment

→ Place where goods / services are bought / sold

...