Topic Name Description
Course Syllabus Page Course Syllabus
1.1: Marketing Basics Book What is Marketing?

Read this chapter, which defines and discusses the four components of marketing, identifies the various institutions and entities that engage in marketing activities, and emphasizes the importance of marketing in society. This chapter also outlines the marketing plan.

Page Marketing Fundamentals
Watch this video, which summarizes the fundamentals of marketing terminology and practices. Many of these terms and concepts are deeply rooted in the foundations and traditions of marketing. Please pay extra attention to the fundamental concepts of "The Four Ps" of the marketing mix: product, price, place, and promotion. These topics are critical when defining public relations audiences and the methods to reach them.
1.2: The Marketing Mix ("The 4 Ps") Page The Marketing Mix

Read this section, which will reinforce your understanding of the marketing mix. Select a company like Starbucks and identify their marketing objectives at the corporate level, which will include profitability, cost savings, growth, market share improvement, risk containment, reputation. As a marketer, think about how you will use the marketing mix to achieve these objectives and turn them into actionable steps. As you read each section of the marketing mix, identify actions that have been developed by marketers for your selected company.

Book Developing and Managing Offerings

Read this chapter. Pay attention to the section on managing new products and the product life cycle, and watch the videos.

Book Pricing the Product

Read this chapter. Pricing is a difficult issue because most products will sell at some volume at just about any price level. Some customers are willing to pay almost any price for a specific product, but how many of those customers exist? Marketers could consider a value-priced model, but this may make the product's price so low that there is no way to profit. One common pricing strategy is known as "the loss leader", which involves selling one product below the cost to manufacture it to get it in customers' hands. They make up for this loss later with complementary goods. This is commonly seen in video game console sales. Console system manufacturers like Sony and Nintendo will price the system below the cost to manufacture it. Consumers adopt the systems due to the attractive price point, and the manufacturer makes up for the initial loss on the system with sales of proprietary accessories and video games.

Book Price, the Only Revenue Generator
Read this chapter for a thorough treatment of the critical concept of price, which the authors note is the only means a company has of generating revenue. This chapter discusses the process companies must go through to effectively price their offerings, including identifying pricing objectives, accounting for the factors that affect pricing decisions, and implementing a pricing strategy. Pay attention to concepts of pricing basics, value pricing, target pricing, price sensitivity and elasticity, dynamic pricing, rack pricing, and loss leaders.
Page Demand-Based Pricing

Read this article, which discusses price, impacts on the price point, the effects of demand and competition on price, how economic concepts of substitution and elasticity impact price, and pricing psychology.

Page The Market is a Place
Read this section. Think about the pressures of competition and how a firm can achieve and protect its position in the market.
Page Promotion Tools and Tactics

Listen to this lecture, which gives more marketing information, including public relations, trade shows, events, and seminar selling. Promotion is an all-important aspect of marketing, and we will revisit this topic later in the course.

Book Integrated Marketing Communications and the Changing Media Landscape
Read this chapter, which discusses the different methods of communication employed by businesses to reach their customers, the types of message strategies commonly used, and budgetary issues that companies must consider. Among this chapter's key takeaways, you will learn that as the media landscape changes, marketers may change the type of promotions they use to reach their target markets. With changing technology and social media, less money is being budgeted for traditional media like magazines, and more money is budgeted for "new media". Regardless of the type of media used, marketers use integrated marketing communications (IMC) to deliver one consistent message to buyers.
Page Advertising and Marketing on the Internet

Read about the difference between advertising and marketing. From your previous reading in this unit, you know that advertising is an element of marketing. This text provides additional guidelines that marketers must consider when developing communication strategies for an integrated marketing communication campaign.

Book Social Marketing
Read this article, which discusses achieving marketing success by emotionally connecting customers to products, piquing the interest of target media, and creating a media hook through innovation rather than imitation.
2.1: STP Strategy Book Market Segmenting, Targeting, and Positioning
Let's consider segmenting, targeting, and positioning (STP), known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and post their products to cultivate their desired brand position.
Book The Segmented Market

Read this section.

Book Approaching the Market

Read these sections.

Page Positioning

Read this material on positioning.

2.2: Publics Page The Benefits of Understanding Your Audience

Read this article about audience. Among the most important aspects of a communication campaign is forming a clear picture of the target audience. Before you write a speech you will need to think about the audience's perspective, gather detailed information, and identify how key points in you speech will make an impact. As you read each section, select a product and an audience, then take notes as it applied to the audience and product you select. For example, if you are writing a speech about purchasing Tesla to a group of adults in their 20s you can take notes by answering question such as: Who is the target audience, what is the purpose/goal of my speech?, what probing questions can I ask the audience?, what do we have in common?, and what is the audience analysis/demographics?

3.1: Business-to-Business Book Business Buying Behavior

Read this chapter, which provides an overview of business-to-business buying behavior. This chapter discusses how B2B markets differ from B2C markets, types of B2B buyers, buying centers, and stages of the B2B buying process. The chapter wraps up with a discussion of international B2B markets, e-commerce, and ethics in the B2B market. From this reading, you will learn what a buying center is and will be able to name the members of buying centers and describe their roles. Pay special attention to the concepts of the decision-making unit (DMU) and the purchase process.

Page Organizational Buyer Behavior

Read this section. The decision-making process that organizations follow to determine their needs for products and services is known as organization buying. After reading this material, consider the following review questions: What buying stages do buying centers usually go through? Why should business buyers collaborate with the companies they buy products from? Explain how a straight rebuy, new buy, and modified rebuy differ.

3.2: Business-to-Consumer Book Using Marketing Channels to Create Value for Customers

Read this chapter, which explains that a direct marketing channel consists of just two parties: the producer and the consumer. By contrast, a channel that includes one or more intermediaries (wholesalers, distributors, brokers, or agents) is an indirect channel. Firms often utilize multiple channels to reach more customers and increase their effectiveness. Some companies find ways to increase their sales by forming strategic channel alliances. Other companies look for ways to cut out the middlemen from the channel, known as disintermediation. Direct foreign investment, joint ventures, exporting, franchising, and licensing are some of the channels by which firms attempt to enter foreign markets.

Book Understanding Buyer Behavior

Read this chapter. The terms "customer" and "consumer" are often mistakenly used interchangeably. The distinction is blurry because different organizations, academics, and governments have varying definitions for both of them. One easy way of distinguishing between the two is to think of the consumer as a potential customer to a firm and the customer as someone that already consumes the goods a specific firm produces. For example, if you regularly purchase shoes from Footlocker, you are a Footlocker customer. But if your friend does not shop at Footlocker, then Footlocker considers him a consumer: a potential customer. Firms often target consumers and existing customers differently.

3.3: Customer Psychology Book How People Make Buying Decisions

Read this chapter, which discusses consumers' decision-making process and examines the situational, personal, psychological, and societal factors influencing their buying decisions.

3.4: Value of Customers Book Strategic Planning

Read this chapter, which examines the strategic planning process companies go through to develop, price, promote, and sell their products and services. The first section explains the value proposition and will help you understand why a company may develop different value propositions for different target markets. After reading the chapter, complete the discussion questions at the end of the chapter.

3.5: Marketing Research Book Marketing Research: An Aid to Decision Making

Read this chapter. The American Marketing Association defines marketing research this way: "Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, and analyzes and communicates the findings and their implications".

Book Marketing Research and Market Intelligence

Read this chapter. The American Marketing Association defines marketing research this way: "Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, and analyzes and communicates the findings and their implications".

Page Business and Marketing Research Resources

Read this article, which describes marketing research questions.

4.1: Product Life Cycle Book Introducing and Managing the Product
When a new product is developed and offered, a company must consider what will develop the product's value to the customer, whether the customer is a consumer or another business. Marketers must always ask where a new product will fit in their current lineup and how the new product will serve as an extension of an existing brand. Take the car manufacturer BMW. They make sporty luxury vehicles aimed at the upper-middle and wealthy classes.
4.2: The Creation of an Offering Book Creating Offerings

Think about why you purchase things. In this section you will read material on offerings and distinguish between the three major components of an offering: product, price, and service. Summarize the points for both sides of a product-dominant and a service-dominant approach, Review how each component composes different types of offerings. Then distinguish between technology platforms and product lines.

4.3: Creating Customer Value through Supply Chains Book Using Supply Chains to Create Value for Customers

Read this chapter. Think about the processes and key components involved such as costs, outsourcing, social responsibility, environment, planning, and inventory control. Watch the video clips for Who Ya Gonna Call and Amazon Fullfillment. Answer the review questions at the end of each section.

5.1: Distribution Channel Strategies Book Channel Concepts: Distributing the Product

Read this chapter. Push and pull strategies are based on how the customer perceives a product. For example, if the company wants to sell a product, it may aggressively push it through the distribution channel and into stores with pricing incentives. This is often seen with products the customer does not have a perceived need or desire for. A pull strategy is based on satisfying a customer's wants or needs. It is almost as if the customer is pulling the product through the distribution channel. Channel membership is a distribution strategy based on the type of product in question. If quality and reliability are important, marketers will use exclusive distributions or "authorized resellers". Intensive distribution is the opposite; a marketer will allow just about anyone to carry a product. Convenience foods are a good example. Just about every check-out line in a store now has snacks and sodas.

5.2: Promotion Tools and Tactics Page 10 Rules for a Powerful Brand in Architecture

Read this article on branding your company. This article describes branding an architecture firm, but the rules apply to many types of companies.

Promotion gets to the heart of a marketing campaign. Once you have developed your product or service, identified a target audience, and crafted a selling proposition, now comes the time to let the world know about it. This may be accomplished through several means, ranging from paid advertising to public relations outreach to direct sales. This article gives valuable details on this most critical 'P' of the marketing mix.

Book Advertising

Review this chapter, which you read earlier in the course. It discusses different methods of communication employed by businesses to reach their customers, the types of message strategies commonly used, and budgetary issues that companies must consider. This time, answer the discussion questions at the end of the chapter.

Book Professional Selling

Read these sections and answer the review questions at the end of each section. This chapter discusses the role selling plays in marketing strategies.

Page Types of Marketing Channels

Read this article on tactics of salespeople to win customers and get new product lines on store shelves for sale.

Book The Sales Force

Read this section to learn about the sales force. Pay attention to the different sales ads, the types of selling, techniques used, and the selling process as a whole.

Book Public Relations

Read this chapter. Answer the review questions at the end of each section. The material explains the various public relations (PR) concepts and tools used by organizations. Public relations are the activities organizations engage in to create a positive image for a company, product, service, or person. Press releases, sponsorships, and product placements are three commonly used PR tools. Press releases are designed to generate publicity, but there is no guarantee the media will use them in the stories they write. Sponsorships are designed to increase brand awareness, improve corporate image, and reach target markets. Product placements are designed to generate exposure, brand awareness, and interest.

Book Media and Public Relations

Visit this interactive resource. You should briefly review each of the eight primer modules and note any resources or templates you find especially useful. These resources and templates may be helpful as you undertake a public relations campaign at a future date. We will refer back to this primer elsewhere in the course for specific examples supporting subunit topics ahead. For now, it gives a useful overview of the public relations craft and some tools at its disposal. This primer was prepared to help government and business leaders in the former Soviet Union transition from a centralized system to a market system. They were expected to interact with a more free and independent media. The concept of "public and media relations" was new to many of these leaders, so this primer provides a fundamental overview of PR's basic ideas and tools.

6.1: Satisfying the Customer Book Customer Satisfaction, Loyalty, and Empowerment

Read this chapter, which emphasizes customer communities, loyalty management, customer satisfaction, ethics, laws, and customer empowerment.

6.2: Marketing Ethics Book Business and Marketing Ethics

Read this article on business and marketing ethics in the global marketplace. Look at the discussion topics at the end of the article and reflect on each question.

6.3: Social Marketing Page Social Marketing

Watch this video on social marketing. You can also apply most of the tools for promoting commercial projects to advancing social causes and programs.

6.4: Cultural Modifications for Marketing Book Multicultural Marketing

Read this article about international communication tactics, using themes and images that transcend cultural differences. If you publish a website, you are positioned to reach a global audience. English may connect those in international business with a common language, but we still need to be sensitive to cultural differences.

6.5: The Marketing Plan Book The Marketing Plan

Read this chapter, which discusses marketing planning roles, the parts and functions of the marketing plan, forecasting, and the structure of a marketing plan audit. It also discusses PEST Analysis and other external factors that affect marketing decisions. This chapter reviews other concepts we've discussed so far. Key takeaways include the steps in the forecasting process. You will be able to identify types of forecasting methods and their advantages and disadvantages and discuss the methods used to improve the accuracy of forecasts. Lastly, you will apply marketing planning processes to ongoing business settings and identify the role of the marketing audit. Answer the discussion questions at the end of the chapter.

Page Marketing Budgets

Listen to this lecture, which discusses where to spend your marketing dollars and the costs associated with different types of marketing vehicles. This information is an essential component of the marketing plan. Without a budget, you cannot implement the marketing plan. Many external factors will affect the marketing budget.

Page Marketing Plan Project

Follow these instructions for completing a marketing plan project for this course. Once your marketing plan is complete, follow the instructions for peer assessment of your plan, which you can post to the discussion forum if you wish.

Page Marketing Plan Template

Review this template suggestion for preparing your marketing plan project. Feel free to revise, expand, or replace template headings as you see fit for your particular project.

7.1: Introduction to Social Media Marketing Book Old to New Media

Read this article. Social media has avenues to advertise products or services. It is important to use social media with a purpose and plan. It is a way to create impressions, build equity, and sell products or services.

7.2: Content Marketing Book Content Marketing Strategy

Read this article on content marketing. Content needs to be developed and built on keywords. Keywords for the brand or company need to be identified and effectively used. If someone is searching for a plumber and they live in Dallas. They might search for the best plumber in Dallas. Information like this will guide keywords. Developing keywords is not once and done but is ongoing. Google Trends is an excellent place to see how phases trend over time.

Page Content Marketing Defined

Read this article on content marketing. The content in marketing generates interest and keeps customers on your website. It needs to be systematic and planned. This includes photos, blogs, and text posts or tweets.

7.3: Email Marketing Book Email and Mobile Direct Marketing

Read this chapter. Email marketing is one of the more effective ways to reach customers. Email is owned media, which means you control the content and own the email list. You can use email in conjunction with social media to continue engagement with your audience.

7.4: Social Media Platforms Book Social Media Platforms

Read this chapter. There are over 100 different social media platforms. We are going to review just a few of the top sites. Companies need to understand how customers interact on each social media platform.

Book Social Media Marketing 101

Read these sections. Instagram, Twitter, and Facebook include short videos. LinkedIn is a business networking site. Twitter is focused on news, and is not a suitable venue for marketing unless that is where your customers already are. Instagram is a photo-sharing site. YouTube is a platform where users can upload and share videos. Pinterest is strong with particular niches, such as do-it-yourself.

Study Guide Book BUS203 Study Guide
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