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This subject provides an introduction to the basic concepts, principles and activities of marketing and how to manage an organisation's marketing effort. Some of the principal topics include value-based marketing, market research, selecting target markets, product and brand management, marketing communications (advertising and promotions, as well as personal selling), management of distribution channels, pricing decisions and marketing ethics. Students are also introduced to the nature of buyer behaviour, including decision-making patterns, purchase behaviours, and customer satisfaction.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Understand the fundamental concepts and principles involved in marketing
- Explain the critical importance of marketing for superior business performance
- Analyse marketing problems facing practitioners and firms and apply relevant theories, concepts and models to generate appropriate solutions
- Analyse various ethical implications facing a marketing manager in their decisions.
On successful completion of this subject, students should have improved the following generic skills:
- Critical evaluation of an argument. For example, that market share does not necessarily create shareholder value because market share often comes at a cost;
- Application of marketing theories to real world marketing practice;
- Problem solving, which should be fostered through the application of appropriate theories or principles. For example, determine when to lower a product price permanently as opposed to using a series of price promotions;
- Oral and written communication;
- Collaborative learning and team work;
- Strategic thinking.
Last updated: 14 February 2020