MKT 110 - Principles of Marketing

1. Explain the nature of marketing
   1. Define marketing
   2. Describe the role of marketing in society
   3. Explain the marketing concept
   4. Identify the elements of the marketing mix.
   5. Explain why most marketers today view themselves as global marketers
2. Outline the marketing environment
   1. Define the marketing environment
   2. Explain how the legal, social, technological, economic, and competitive environments affect an organization’s marketing activities
   3. Describe the four types of competition
   4. Relate the differences in the external environment for a global firm
3. Explain the marketing planning process
   1. Define strategic marketing planning
   2. Identify the steps in the marketing planning process
   3. Explain the importance of a marketing plan
   4. Identify special challenges in preparing a global market
4. Explain the relationship between information and marketing decision making.
   1. Differentiate a marketing information system from marketing research.
   2. List the steps in the marketing research process
   3. Describe the methods of collecting data
   4. Distinguish between primary and secondary data
   5. Describe special research problems facing global marketers
5. Explain market segmentation
   1. Distinguish between a market and market segmentation
   2. Identify the differences between consumer and organizational markets
   3. Discuss the bases of segmenting a market
   4. Explain strategies for targeting markets
   5. Differentiate segmenting national versus global markets
6. Identify consumer buying behavior
   1. Describe the stages consumers go through in making purchasing decisions
   2. Explain ways that attitudes, beliefs, values, Teaming, and motives influence buying behavior
   3. Outline ways social and personal factors affect consumer purchasing decisions
   4. Discuss how consumer buying behavior impacts marketing products in a global market
7. Explain the organizational buying process
   1. Compare the different types of organizational markets.
   2. Differentiate organizational buying behavior from consumer buying behavior
   3. Describe major influences on organizational buyers.
   4. Explain the stages/types of organizational buying
8. Compare product factors affecting marketing activities.
   1. Distinguish between a good, service, and idea
   2. Differentiate between features and benefits
   3. Explain how benefits add value to a product
   4. Differentiate between consumer and organizational products
   5. Explain the stages in the life cycle of product categories.
   6. Describe what branding does for a product
   7. Explain the functions of a product’s packaging
9. Explain how to develop and manage products
   1. Explain what makes a new product “new”
   2. Describe reasons why companies need to develop new products
   3. Outline the steps in new product development
   4. Explain the importance of product positioning
   5. Discuss strategies for managing products during life cycle stages
   6. Describe how organization’s extend a product’s life cycle.
   7. Determine how the new-product development process relates to global markets
10. Identify the considerations and objectives of pricing.
    1. Explain how price, value, benefits, and quality are interconnected
    2. List the factors influencing price decisions.
    3. Identify the difference between price and non-price competition
    4. Outline the different pricing objectives
    5. Discuss pricing methods
11. Compare marketing channels and physical distribution
    1. Describe the functions of marketing channels
    2. Differentiate between marketing channels for consumer and organizational markets
    3. Discuss the different types of physical distribution
    4. Explain the three levels of distribution intensity/market coverage.
    5. Identify differences marketers must take into consideration when managing and developing international distribution channels
12. Explain the marketing communication process
    1. Explain the role of promotion in the marketing mix.
    2. Discuss the elements of the promotional mix
    3. Differentiate between promotions for consumer and organizational markets
    4. Identify factors affecting global marketing communication
13. Explain the importance of marketing ethics and social responsibility.
    1. Distinguish between ethical and social responsibility
    2. Describe common ethical problems faced by marketers
    3. Explain how organizations can encourage ethical behavior.