BUS203: PRINCIPLES OF MARKETING
Details
In this course, you will learn about the marketing process and examine the range of marketing decisions that an organization must make in order to sell its products and services. You will also learn how to think like a marketer, discovering that the focus of marketing has always been on the consumer. You will begin to ask, “Who is the consumer of goods and services?” What does the consumer need? What does the consumer want? Marketing is an understanding of how to communicate with the consumer, and is characterized by four activities:
- Creating products and services that serve consumers
- Communicating a clear value proposition
- Delivering products and services in a way that optimizes value
- Exchanging, or trading, value for those offerings
Many people incorrectly believe that marketing and advertising are one in the same. In reality, advertising is just one of many tools used in marketing, which is the process by which firms determine which products to offer, how to price those products, and
to whom they should be made available. We will also explore various ways in which marketing departments and independent agencies answer these questions – whether through research, analysis, or even trial-and-error. Once a company identifies its customer and
product, marketers must then determine the best way to capture the customer’s attention. Capturing the customer’s attention may entail undercutting competitors on price, aggressively marketing a product with promotions and advertising (as with “As Seen on
TV” ads), or specifically targeting ideal customers. The strategy a marketing firm chooses for a particular product is vital to the success of the product. The idea that “great products sell themselves” is simply not true. By the end of this course, you will
be familiar with the art and science of marketing a product.
Learning Outcomes
- define marketing and explain its function in society;
- explain the difference between marketing, advertising, and sales;
- describe marketing concepts and terminology;
- describe the process of market research;
- describe the concept of pricing;
- explain product strategy, including the concepts of product life cycle, positioning, and pricing;
- define competition and explain competitive analysis;
- analyze the process of distribution and explain marketing channels;
- identify the key elements of product promotions;
- explain how to develop a marketing plan and apply the principles of marketing in creating a marketing plan; and
- describe employment and career development opportunities in marketing.
Course Requirements
√ have access to a computer;
√ have continuous broadband Internet access;
√ have the ability/permission to install plug-ins or software (e.g. Adobe Reader or Flash);
√ have the ability to download and save files and documents to a computer;
√ have the ability to open Microsoft files and documents (.doc, .ppt, .xls, etc.);
√ have competency in the English language; and
√ have read the Saylor Student Handbook.
Saylor Academy’s mission is to open education to all.
Saylor Academy’s mission is sustained by the continued evolution of an open educational ecosystem, and we are dedicated partners in this movement. Saylor’s commitment to the open education ecosystem is founded not just on open educational resources and open source learning technologies, but also on open access to credentials, and ongoing open learning opportunities.
Guided by these beliefs, Saylor Academy is currently focused on the following projects:
Open Courses: Maintenance and Learner-Centered Improvements
- A commitment to the OER community means that we’ll continue to replace open access materials with openly licensed ones in an effort to make Saylor courseware as reusable and remixable as possible.
- Open courses require more instructional supports for learners, so our current improvements focus on ensuring better and more frequent opportunities for Saylor students to practice what they’re learning.
Open Credentials: Adding New Opportunities and Bolstering Existing Ones
- We’re working on expanding our suite of Saylor Direct credit recommended exams, and we’re also keen on working with university partners to develop innovative and flexible partner degree launching and completion programs. ...
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