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What is Marketing?

In many ways, the course work for a marketing degree overlaps with the coursework for a business degree. This should come as no surprise, since both business degrees and marketing degrees help you learn practical skills that work across a broad range of industries. While each college or university names their courses a little differently, the type of marketing courses you can expect to encounter while working towards a bachelors’ degree in business or marketing, an MBA, or a master’s degree in marketing, will be similar regardless of the school you attend.

Of course, marketing students will focus on marketing principles. Frequently, the core principles of marketing are referred to as the 4Ps: selecting a Product; determining the Price; selecting a distribution channel or Place; and developing a Promotion strategy. However, marketing students need to understand marketing on a deeper level than a simple 4P overview provides. For example, marketing majors may not ever have to conduct their own market research, but they should understand statistics, as well as the tools and techniques market researchers use, so that they can evaluate that research. Marketing students also need to understand how to market to businesses, including a thorough understanding of the supply chain.

One of the ways that marketing courses deviate from business courses is that they emphasize the role of human behavior. In many ways, marketing is selling, and to sell products, one must know people. Consumer behavior, or the psychology of marketing, helps explain what motivates people to make purchasing decisions.

You can expect to encounter at least one business communications course. These courses focuses on those components of communications that are most relevant in a business setting. They may include international communication, managerial communication, and even business writing courses.

Marketing students will also need to be familiar with economics. While many times you will only be required to study macroeconomics, you may find it easier to understand economic concepts if you also study microeconomics. In different ways, both approaches to economics look at the core concept of supply and demand. A marketing professional’s job is not only to create demand for a product, but also to be able to realistically assess whether such demand can be created and what price point the demand will sustain. Although it is geared more towards understanding the supply chain, Forio’s Root Beer Game can really enhance student’s understanding of supply and demand.

Given the globalization of most businesses, marketing students have to be familiar with an international business environment. Strategies that work well in one situation may be completely inappropriate in an international context, therefore students need to learn global marketing strategies. Of course, if you intend to market to a specific international area, then taking courses that are specifically tailored to that area can be helpful, even if they are not in your degree plan. It is not unusual for marketing students to study sociology, foreign language, and culture in order to gain a better understanding of their potential consumers.  [ Show Less ]

 

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Organizational structure and functions at Target Corporation
Target Corporation operates in three major market segments. It operates the U.S. Retail segment, the U.S. credit card segment, and the Canadian credit card segment. In the U.S. Retail segment, consumers can purchase items either online or by locating them in one of its stores. Target operates in the discount general merchandise retail segment. Its credit card segment offers a Target visa, Target card, and branded Target debit card. As of January 2012 Target had 1,763 stores in 49 states and in the Distinct of Columbia (Money .CNN.com, 2012). This research explores Target's Organizational Structure.
Paper Doctorate
Clean Edge Razor: Paramount's Positioning Strategy Analysis
Paramount, a well established and globally recognized personal care product company has developed their latest and highly innovative non-disposable shaving razor called Clean Edge. The Paramount senior executives were…
Paper Undergraduate
Organization Is Fragmentized Into Several
¶ … organization is fragmentized into several sub-organizations which work coherently to optimize the performance of the organization. Human Resource Department is viewed as sub-organization of relevance and importance…
Paper Undergraduate
Corporate Governance in Small- to Medium-Sized Enterprises
¶ … Improving Corporate Governance in Small- to Medium-Sized Enterprises
Paper Undergraduate
Global Market Research: Roles, Methods, and Challenges
Global Market Research- Roles and Challenges
Paper Doctorate
Functional Strategies: Interdependent or Independent?
Are the functional strategies interdependent, or can they be formulated independently of other functions?
Paper Undergraduate
Economic Organization in Ancient Mesopotamia, Egypt, Greece, and Rome
Mesopotamia -- as the first settled, agrarian-based society, Mesopotamia was the birthplace of modern civilization. The likely scenario, according to archaeologists, is that groups of hunter gatherers noticed that the…
Paper Undergraduate
Hilton Hotels Management Strengths and Leadership Style
Hilton Hotels' Management Strengths and Leadership Style
Essay Doctorate
McDonald's Market Structure: Oligopoly in Fast Food
McDonald's (2010) is one of the most recognizable brands around the world. It is the world's largest food chain and has more than 32,000 locations in more than 110 countries. Operating it's own brand, McDonald's…
Paper Undergraduate
Self-Service Technology Trends in the Hospitality Industry
¶ … technology in the hospitality industry. The work first addresses the growth of the service sector in relation to the hospitality industry and will then discuss changes that have and will occur in the industry as a…