Fundamentals Of Marketing
- Management Sciences
- 700 level
- 2 credit units
- 252 pages
- 15 units
This course, Fundamentals of Marketing, is a compulsory course for Post Graduate Diploma students of PGD Business Administration. It provides a comprehensive overview of marketing functions and channels within a corporate environment. The course explores key elements of marketing strategy, including productive development, distribution, consumer relationship management, and pricing. Contemporary issues in marketing, such as advertising, sales promotion, online marketing and sports marketing are also examined. The course aims to equip students with critical thinking skills.
About this course
- Difficulty
- Intermediate
- Study hours
- 208 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor Marked Assessments
- Written Examination
What you'll read
The real module and unit structure of MKT730, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
MKT730 · UNIT1: INTRODUCTIONTOMARKETING
From our analysis of the definitions in section 3.2, we may view marketing general y as resting on six inter-connected platforms. These are: needs, wants, and demands; products; value and satisfaction: exchange, transactions and relationships; market; marketing and marketers. These inter-connected platforms are illustrated in Figure 1. We shall attempt to run through each of these platforms.
What you should be able to do
- Explain the concept of marketing and its evolution.
- Describe the five philosophies guiding marketing efforts.
- Discuss the importance of environmental scanning and analysis.
- Explain the concepts of market segmentation and target market.
- Outline the process consumers go through in making purchase decisions.
What it prepares you for
- Marketing Manager
- Brand Manager
- Sales Manager
- Market Research Analyst
- Advertising Executive
- 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:
Unit 3: Forces operating in the Marketing System
Requires a strong understanding of economic principles and the ability to analyze complex market dynamics.
- Module 3:
Unit 3: Marketing of Services
Involves understanding the unique challenges and strategies required for marketing intangible services, which differs significantly from tangible products.
A suggested way through it
13 weeks, about 42 hours in total. Yours will differ.
- Week 1Module 1:
Unit 1: Introduction to Marketing · 3 hours
Define marketing and outline the concepts of needs, wants, and demands.. Explain the exchange process and its importance in marketing..
- Week 2Module 1:
Unit 2: Marketing Management and Demand · 3 hours
Define marketing management and explain the eight different common states of demand.. Describe the five philosophies guiding marketing efforts and compare the selling and marketing concepts..
- Week 3Module 1:
Unit 3: Forces operating in the Marketing System · 3 hours
Differentiate between the internal and external forces operating in the marketing system.. Discuss the importance of environmental scanning and analysis.. Describe a company's micro and macro environments and explain the meaning of marketing mix..
- Week 4Module 1:
Unit 4: Market –oriented Strategic Planning · 3 hours
Identify the two primary dimensions of strategic marketing planning.. Discuss the levels at which planning takes place in an organization.. Outline the activities that take place in the process of developing strategic objectives..
- Week 5Module 1:
Unit 5: Market Segmentation and Target Market Strategies · 3 hours
Explain the concepts of market segmentation and target markets.. Describe the process of market segmentation and its benefits.. Identify bases for segmenting consumer and business markets and explain the three target-market strategies..
- Week 6Module 2:
Unit 1: Consumer Buying Behaviour · 3 hours
Explain the process consumers go through in making purchase decisions.. Explain how commercial and social information sources influence buying decisions.. Describe the influence of culture, subcultures, social class, membership, and reference groups on buying behavior..
- Week 7Module 2:
Unit 2: Consumer Relationship Management · 3 hours
Define customer relationship management.. Explain the components of customer relationship management.. Discuss the reasons why some companies fail to adopt customer relationship management..
- Week 8Module 2:
Unit 3: Business Buying Behaviour · 3 hours
Explain the nature and scope of the business market.. Describe the components of the business market and the characteristics of business market demand.. Discuss the determinants of business market demand..
- Week 9Module 2:
Unit 4: Ethical Issues in Business · 3 hours
State ethical issues that affect business activities.. Explain ethical issues in relation to business conducts..
- Week 10Module 2:
Unit 5: Products · 3 hours
Define the term product.. Describe the various classifications of consumer and industrial products.. Explain the value of branding and discuss typical branding strategies..
- Week 11Module 3:
Unit 1: New Product Development · 3 hours
Define a new product and explain why new products are important to firms.. Discuss the major reasons for new product failures.. Outline the steps in the new product development process..
- Week 12Module 3:
Unit 2: Pricing Decisions · 3 hours
Explain the meaning of price and its roles in the marketing mix.. Analyse the pricing process and list major pricing objectives.. Describe demand curves and elasticity and discuss how marketers use these concepts to establish ranges of possible price points..
- Week 13Module 3:
Unit 3: Marketing of Services · 3 hours
Explain services in relation to its unique characteristics and their marketing implications.. Identify and define strategies for marketing services, including differentiation, service quality, and productivity..
Unit 4: Sports Marketing · 3 hours
Define the concept of Sports Marketing and explain the different dimensions of Sports Marketing.. Differentiate Sports products from Non-Sport Products.
Preparing for the exam
- Create detailed summaries of each unit, focusing on key definitions and concepts.
- Develop case studies applying marketing principles to real-world scenarios.
- Practice analyzing market segmentation strategies for different product types.
- Review and compare the five philosophies guiding marketing efforts.
- Focus on understanding the factors influencing consumer buying behavior and pricing decisions.
- Create concept maps linking Units 3-5 on market forces and strategic planning.
- Practice applying SWOT analysis to different companies and industries.
- Review all Tutor-Marked Assignments (TMAs) and their feedback.
- Allocate study time proportionally to the weight of each module in the final exam.
- Form study groups to discuss and clarify complex topics with peers.
Questions students ask about this course
What is MKT730 about?
This course, Fundamentals of Marketing, is a compulsory course for Post Graduate Diploma students of PGD Business Administration. It provides a comprehensive overview of marketing functions and channels within a corporate environment. The course explores key elements of marketing strategy, including productive development, distribution, consumer relationship management, and pricing. Contemporary issues in marketing, such as advertising, sales promotion, online marketing and sports marketing are also examined. The course aims to equip students with critical thinking skills.
How many units does MKT730 have?
MKT730, Fundamentals Of Marketing, has 15 units across 3 modules, over 252 pages of course material. You can read it one unit at a time.
How many credit units is MKT730?
MKT730 carries 2 credit units, at 700 level in Management Sciences.
Is MKT730 hard?
MKT730 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does MKT730 take to study?
About 208 hours of study, spread across its 15 units.
How is MKT730 assessed?
MKT730 is assessed by Assignments, Tutor Marked Assessments and Written Examination.
What can I do with MKT730?
Marketing Manager, Brand Manager, Sales Manager, Market Research Analyst and Advertising Executive.