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MKT 101
Course description: This course covers an introduction to the field of marketing with a detailed study of the marketing concept and the processes of product development, pricing, promotion and marketing distribution. Course objectives 1. Describe the history of marketing to include the definition of barter and a monetary transaction. 2. Define the marketing management philosophies: the production era/concept, the selling era/concept, the product era/concept, the marketing era/concept, and the relationship era/concept. 3. Explain the steps in the planning process: developing a mission statement, setting goals/objectives. 4. Define a strategic business unit. 5. Define the major growth strategies: market penetration, market development, product development, and diversification. 6. Define the marketing mix elements: product, price, promotion, and distribution/place. 7. Define the components of the marketing environment: demographic environment, competitive environment, economic environment, natural environment, political environment, and technologic environment. 8. Define the four basic forms of competition: pure competition, monopolistic competition, oligopoly, and monopoly. 9. Define marketing research. 10. Define primary and secondary data and list advantages. 11. Define marketing research methods: observation research, survey research, and experimental research. 12. Define a sample. 13. Define the major factors that affect consumer behavior: culture, social class, lifestyle, personality, perception, attitude, and learning. 14. Explain Maslow’s theory of motivation. List the needs that are included in the hierarchy of needs. 15. Define market segmentation. Define the market segmentation methods: geographic segmentation, demographic segmentation, and psychographic segmentation. 16. Define a market segment. 17. Define a target market. 18. Define a product and a service. 19. Define market/product positioning. 20. Define the product classifications: convenience, shopping, and specialty products. 21. Explain a generic brand. 22. Define a brand. Define the branding options: private brand, manufacturer’s brand, licensing. 23. Explain the test marketing stage of the new product development process. 24. Define the stages in the product life cycle: introduction, growth, maturity, and decline. 25. Define a style, a fashion, and a fad. 26. Define pricing factors: fixed costs, variable costs, total costs. 27. Define price elasticity of demand. 28. Explain breakeven analysis. 29. Define skimming pricing, penetration pricing, cost-plus pricing, uniformed delivered pricing and zone pricing 30. Define the price adjustments: cash discount, quantity discount. 31. Define direct distribution/marketing channels. 32. Define the following distribution/marketing channel intermediaries: wholesaler, agent, broker, and retailer. 33. Define the types of vertical marketing systems: corporate, administered, contractual, franchise. 34. Define the market coverage approaches: intensive distribution, selective distribution, and exclusive distribution. 35. Define the communications/promotion mix factors: advertising, personal selling, sales promotion, public relations, direct marketing. 36. Define an advertising agency. 37. Define the different types of advertising: product advertising, institutional advertising, and cooperative advertising. 38. Describe major advertising media. 39. Describe major sales promotion tools. 40. Describe major public relations tools.
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