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Principles of Marketing: Course outline (MKT-203)

Course description

This course is designed to introduce (or non-) business students to the foundations of marketing as they relate to the whole business enterprise. This course will be focusing on the understanding and application of key marketing concepts. Memorization of the material in the text will not be sufficient. Attendance in lectures and the participation in discussions during class will cement the concepts, allow you to apply them to real business problems, and prepare you for the exams.

The objective of this course is to  enhance your problem solving and decision making abilities by learning how to leverage strategic marketing analysis to inform tactical marketing mix decisions while providing you with a comprehensive framework to evaluate marketing decisions and to create successful marketing initiatives. And provide an understanding of the principles of marketing in relation to insurance, including the planning process, marketing implementation and organization and the legal considerations in relation to marketing.

Learning outcome

By the end of this course it is expected that the student will be able:        

  1. Explain the importance of customer relationship in marketing.
  2. Understand the marketplace and the consumers.
  3. Discuss the elements in marketing mix.
  4. Discuss supply chain management in marketing.
  5. Outline the functions of marketing communication.
  6. Discuss social responsibility and ethics in marketing.

Text book

Related books

Course content

Week 01: Introduction to marketing

• Evaluation of marketing

• Definition of marketing

• Definition of marketing

• Nature and concept of marketing

• Importance and scope of marketing

Week 02: MARKETING ENVIRONMENTS

• Factors of marketing environment

• Environmental monitoring and scanning

• Macro environment

• Micro environment

Week 03: STRATEGIC MARKETING

• Strategic marketing planning

• Strategic company planning

• Forecasting marketing demand

• Delphi techniques

Week 04: MARKETING DECISIONS

• Information for marketing decisions

• Reasons for obtaining information

• Marketing research

• Target markets

• Developing target market strategies

Week 05: MARKET SEGMENTATION AND AGGREGATION

• Information for purchase decisions

• Consumer decision process

• Social and psychological factors

• Market implications

Week 06 DESIGNING OF PRODUCTS

• Definition of product

• Branding of the product

• Classification of consumer goods

• Classification of business goods

Week 07: PRODUCT DEVELOPMENT AND LIFE CYCLE

• Product development process

• Marketing strategy developments

• Test marketing and commercialization

• Product life cycle stages

Week 08: MID-TERM EXAMINATION

Course content

Week 09: OVERVIEW OF PRICE PLANNING

• Price planning

• Importance of pricing

• Break even analysis

• Factor effecting pricing decisions

Week 10: DEVELOPING OF PRICING STRATEGY

• Sale based objectives

• Profit based objectives

• Status quo

• Price strategy

Week 11: APPLICATION OF PRICING TECHNIQUES

• Cost based pricing

• Cost plus pricing

• Target pricing

• Floor pricing

Week 12: DISTRIBUTION

• Importance of distribution

• Selecting a channel of distribution

• Wholesaling impact on economy

• Types of wholesaling

• Retailing functions in distribution

• Recent trends in wholesaling and retailing

Week 13: PROMOTIONAL PLANNING

• Importance and types of promotion

• Channel of communication

• Objectives, budgeting and promotional mix

• Sales promotions

• Legal environments of promotion

• Criticisms and Defense of promotion

Week 14: ADVERTISING AND PUBLICITY

• Scope of advertisement and publicity

• Characteristic of advertisement and publicity

• Development, planning and implementation

• Evaluating success and failure

Week 15: E-BUSINESS APPLICATIONS

• Introduction

• Different trends

• Rules of doing e-business

• E-business application in the market

Week 16: Conclusion Session

•           Terminal Exam (to be announced by the University)