The content, assignments, and assessments for Principles of Marketing are aligned to the following learning outcomes. A full list of course learning outcomes can be viewed here: Principles of Marketing Learning Outcomes.
Module 1: What Is Marketing?
Explain what marketing is and how it’s used
Define marketing
Identify evidence of marketing in everyday life
Demonstrate a clear understanding of the marketing concept
Describe the role of marketing in building and managing customer relationships
Describe how different types of organizations, such as nonprofits, consumer product (B2C) firms and business-to-business (B2B) organizations, use marketing
Explain how marketing creates value for the consumer, the company, and society
Module 2: Marketing Function
Identify the primary marketing activities of an organization
Explain why the customer is the cornerstone of marketing
Briefly explain the concepts of segmentation and targeting
Describe the marketing mix
Explain how organizations use the marketing mix (often called the four Ps) to market to their target customers
Explain the role of a marketing plan as a guiding document for marketing activities
Module 3: Segmentation and Targeting
Determine market segments and target customers
Explain the purpose of segmentation and targeting in marketing
Describe common segmentation approaches
Explain the process of selecting an appropriate segmentation approach and deciding which customer segments to target for marketing activities
Explain how targeting influences each element of the marketing mix
Module 4: Marketing Strategy
Determine market segments and target customers
Evaluate how marketing strategies align with corporate strategies
Explain the inputs and components of a marketing strategy
Show how common analytic tools are used to inform the organization’s strategy
Give examples of corporate strategies
Explain how the development and maintenance of customer relationships are an essential part of an organization’s marketing strategy
Module 5: Ethics and Social Responsibility
Apply principles of ethics and social responsibility in marketing
Describe the types of ethical and social responsibility issues that marketing must address
Explain the laws that regulate marketing
Explain how ethical dilemmas in business-to-business marketing differ from those in consumer marketing
Outline measures companies take to encourage ethical behavior
Explain how demonstrating corporate social responsibility can impact marketing
Module 6: Marketing Information and Research
Use marketing information and research to develop marketing strategies for organizations
Explain the role of marketing information in helping firms understand and reach consumers
Describe the key types of marketing information including internal data, competitive intelligence and marketing research
Outline a standard process for using marketing research to address an organization’s strategic questions
Recognize alternative methods for conducting marketing research, including primary and secondary research methods
Identify major sources of available market data
Explain how Customer Relationship Management (CRM) systems can help organizations manage and gain customer insights from marketing information
Use marketing information to inform the marketing strategy
Module 7: Consumer Behavior
Use information about consumer behavior to inform marketing strategy and tactics
Describe the stages of the consumer buying process
Explain the different buying processes for low-involvement and high-involvement decisions
Describe the major factors that influence consumer purchasing decisions
Explain the B2B buying process and key factors influencing B2B purchasing decisions
Module 8: Positioning
Create a product or service positioning statement that aligns with a value proposition and a target segment
Define positioning and differentiation, and why they are important to marketing a product or service
Explain the process of selecting a positioning and differentiation strategy
Develop and evaluate positioning statements based on defined criteria
Explain repositioning and the associated risks and complexities of repositioning a product or service
Describe the process of implementing a positioning strategy
Module 9: Branding
Analyze elements of a brand and explain how the brand-building process contributes to the success of products or services
Describe the elements of brand and how brands add value to an organization’s products and services
Define brand equity and its role in measuring brand strength
Explain the how marketers use brand positioning to align marketing activities and build successful brands
Explain the importance of name selection in the success of a brand
Discuss the role of packaging in the brand-building process
Explain key strategies for developing brands including brand ownership, brand and line extensions, co-branding and licensing
Module 10: Product Marketing
Make product marketing decisions based on product life cycle and product portfolio structure
Explain what a product is and the importance of products in the marketing mix
Discuss the product life cycle and its implications for marketing
Explain product portfolio management and how it relates to the organization’s marketing strategy and tactics
Define the process for creating new products
Identify the challenges associated with creating a successful new product
Module 11: Pricing Strategies
Use pricing strategies to enhance marketing of products and services
Discuss how price affects the value of the organization’s products or services
Explain the primary factors to consider in pricing
Compare common pricing strategies
Explain price elasticity and how it can be used to set price
Explain the use of competitive bidding for B2B pricing
Module 12: Place: Distribution Channels
Evaluate how to use distribution channels to market an organization’s products and services effectively
Explain what channels of distribution are and why organizations use them
Explain how channels affect the marketing of products and services
Describe types of retailers and explain how they are used as a channel of distribution
Explain how integrated supply chain management supports an effective distribution strategy
Module 13: Promotion: Integrated Marketing Communication (IMC)
Demonstrate how organizations use integrated marketing communication (IMC) to support their marketing strategies
Explain integrated marketing communication (IMC) and its connection to the organization’s marketing strategy
Discuss how to develop effective messaging for marketing communications
Explain factors to consider when selecting marketing communication methods to execute the strategy
Describe common methods of marketing communication, their advantages and disadvantages
Explain how IMC tools support the sales process
Describe the uses of Customer Relationship Management (CRM) systems for marketing communication purposes
Explain common tools and approaches used to measure marketing communication effectiveness
Create a marketing campaign and budget using multiple IMC tools to execute a marketing strategy
Module 14: Marketing Globally
Identify issues that organizations face and approaches they use when marketing to different countries and cultures
Describe globalization and the major benefits and challenges it poses for multinational organizations penetrating global markets
Describe common approaches used by organizations to compete successfully on a global scale
Explain the importance of understanding how demographic, cultural and institutional factors shape the global marketing environment
Module 15: Marketing Plan
Develop a marketing plan
Identify the key elements of the marketing plan
Present a marketing plan
Explain how the marketing plan is used by marketing and the overall organization
Contributors and Attributions
CC licensed content, Original
Learning Outcomes. Provided by: Lumen Learning. License: CC BY: Attribution
