Elements Of Marketing
- Management Sciences
- 200 level
- 3 credit units
- 174 pages
- 16 units
This course introduces the fundamental elements of marketing. It explores core concepts such as needs, wants, markets, and the marketing environment. Students will learn about the marketing mix, including product classification, channels of distribution, and the role of middlemen. The course also covers product life cycles, market segmentation, branding, packaging, pricing strategies, marketing communication, advertising, personal selling, and the importance of marketing research.
About this course
- Difficulty
- Intermediate
- Study hours
- 208 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assignments
- Final examination
What you'll read
The real module and unit structure of MKT201, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
MKT201 · UNIT 1: INTRODUCTION TO MARKETING
These five conditions make exchange possible. Whether exchange actually takes place, however depends on the parties coming to an agreement. It is often concluded that the act of exchange has left both of them better off, or at least not worse off. Hence, exchange creates value just as production creates value. It gives people more consumption possibilities.
What you should be able to do
- Describe the core concepts and principles of marketing.
- Analyze the marketing environment and its impact on business decisions.
- Develop effective marketing mix strategies.
- Apply market segmentation techniques to target specific customer groups.
- Understand the importance of branding and packaging.
- Evaluate different pricing policies and practices.
- Develop effective marketing communication strategies.
- Conduct basic marketing research and interpret the results.
What it prepares you for
- Marketing Manager
- Brand Manager
- Sales Manager
- Advertising Executive
- Market Research Analyst
- Consumer Goods
- Retail
- Advertising
- Market Research
- Service Industries
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 1: Introduction to Marketing
Unit 1: Introduction to Marketing
Requires understanding of abstract concepts like needs, wants, and demands, and their relationship to marketing strategies.
- Module 3:
Unit 2: Price Policies and Practices
Involves complex calculations and understanding of economic principles to determine optimal pricing strategies.
- Module 3:
Unit 6: Marketing Research and its Applications
Requires understanding of statistical methods and data analysis techniques to interpret research findings.
A suggested way through it
13 weeks, about 32 hours in total. Yours will differ.
- Week 1Module 1: Introduction to Marketing
Unit 1: Introduction to Marketing · 2 hours
Define marketing and its core concepts.. Differentiate between needs, wants, and demands.. Discuss the evolution of marketing and its functions..
- Week 2Module 1: Introduction to Marketing
Unit 2: Marketing Environment · 2 hours
Explain the micro and macro environments.. Analyze the impact of environmental variables on marketing activities.. Conduct a SWOT analysis for a given business scenario..
- Week 3Module 1: Introduction to Marketing
Unit 3: Product Classifications · 2 hours
Classify products into consumer and industrial goods.. Describe the characteristics of different types of consumer products.. Explain the characteristics of industrial products..
- Week 4Module 1: Introduction to Marketing
Unit 4: Channels of Distribution · 2 hours
Explain the functions of channels of distribution.. Describe different types of marketing channels.. Discuss the factors involved in selecting an appropriate channel mix..
- Week 5Module 1: Introduction to Marketing
Unit 5: The role of Middlemen in Marketing Activities · 2 hours
Appraise the role of middlemen in marketing activities.. List and explain different types of middlemen.. Discuss the functions performed by wholesalers and retailers..
- Week 6Module 2:
Unit 1: Product Life Cycle and New Product Development · 2 hours
Explain the concept of the product life cycle.. Describe the different stages of the product life cycle.. Discuss the marketing mix strategies at each stage..
- Week 7Module 2:
Unit 2: The Marketing Mix · 2 hours
Explain the 4Ps of the marketing mix.. Discuss the importance of the marketing mix in marketing.. State the role of each element in marketing activities..
- Week 8Module 2:
Unit 3: Market Segmentation · 2 hours
Explain the concept of market segmentation.. Discuss the bases for market segmentation.. Explain the benefits derived from market segmentation..
- Week 9Module 2:
Unit 4: Branding · 2 hours
Define a brand name and its importance.. Differentiate various types of brand names.. Explain the characteristics of a good brand name..
- Week 10Module 2:
Unit 5: Packing · 2 hours
Define packaging and its purpose.. Explain the functions of packaging.. Discuss the legal dimensions of packaging..
- Week 11Module 3:
Unit 1: Labelling · 2 hours
Define labeling and its functions.. Explain various forms of labeling.. Discuss the legal considerations for labeling..
Unit 2: Price Policies and Practices · 2 hours
Explain the determinants of pricing.. Discuss different pricing methods.. Outline the objectives of pricing policy..
- Week 12Module 3:
Unit 3: Marketing Communication · 2 hours
Explain how communication works in marketing.. Discuss the promotion mix and its elements.. Describe how promotion budgets are set..
Unit 4: Advertising and Publicity · 2 hours
Explain the role and types of advertising.. Describe how media planning is done.. Discuss the need for planning publicity..
- Week 13Module 3:
Unit 5: Personal Selling and Sales Promotion · 2 hours
Explain the nature and role of personal selling and sales promotion.. Describe the steps involved in the selling process.. Discuss the growing importance of sales promotion..
Unit 6: Marketing Research and its Applications · 2 hours
Explain marketing research and its relevance.. Describe the procedure for conducting marketing research.. Discuss the applications of marketing research..
Preparing for the exam
- Create detailed summaries of each unit, focusing on key terms and concepts.
- Practice applying marketing concepts to real-world scenarios and case studies.
- Review all Tutor-Marked Assignments (TMAs) and understand the feedback provided.
- Focus on understanding the different stages of the product life cycle and the appropriate marketing strategies for each stage.
- Practice calculating pricing strategies and analyzing their impact on profitability.
- Develop a strong understanding of market segmentation and targeting techniques.
- Create concept maps linking the 4Ps of the marketing mix and their interdependencies.
- Review past exam papers to familiarize yourself with the question format and difficulty level.
Questions students ask about this course
What is MKT201 about?
This course introduces the fundamental elements of marketing. It explores core concepts such as needs, wants, markets, and the marketing environment. Students will learn about the marketing mix, including product classification, channels of distribution, and the role of middlemen. The course also covers product life cycles, market segmentation, branding, packaging, pricing strategies, marketing communication, advertising, personal selling, and the importance of marketing research.
How many units does MKT201 have?
MKT201, Elements Of Marketing, has 16 units across 3 modules, over 174 pages of course material. You can read it one unit at a time.
How many credit units is MKT201?
MKT201 carries 3 credit units, at 200 level in Management Sciences.
Is MKT201 hard?
MKT201 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does MKT201 take to study?
About 208 hours of study, spread across its 16 units.
How is MKT201 assessed?
MKT201 is assessed by assignments, tutor marked assignments and final examination.
What can I do with MKT201?
Marketing Manager, Brand Manager, Sales Manager, Advertising Executive and Market Research Analyst.