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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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Marketing in Recent Times, People Have Become
The marketing paper is based on a case study of the Macquariedale organic wines whihc specializes in making organic wine that it sells both abroad adn locally. The paper looks at teh SWOT analysis and how the microeconomics forces and the macroeconomic forces affect the daily operations of the firm.
Essay Undergraduate
Business analysis of Foot Locker
Foot Locker is one of the global leaders in the athletic footwear, apparel and multichannel retailing market., with 3,500 stores globally operating in 21 countries. The company operates retail outlets across a variety of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction and CCS. As of this writing the company employs just over 38,007 employees with the majority being part-time (approximately 25,000) (Foot Locker Investor Relations, 2012). Top-line revenue growth continues to be strong with Foot Locker recording $5.049B in their latest full fiscal year ended in January, 2011 (FY2011). This represented a 4% increase over the previous year. As of the latest financial reporting Foot Locker has provided, their revenue is $5.6B and operating profit is $443M. This compares to previous fiscal periods where the company earned an operating profit of $262M in FY2011 and $80M in FY 2010 (Foot Locker Investor Relations, 2012). Foot Locker has seen their margins significantly rode during the recession yet has been able to stage a strong return to profitability by concentrating on more internal process efficiency including more effective inventory control. For a full financial ratio analysis of Foot Locker please see Appendix A and B, Foot Locker Financial Ratio Analysis and Foot Locker Income Statement Analysis.
Paper Undergraduate
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A team is a group of two or more individuals working together to achieve the same goal. Teamwork is very important for the development and functioning of a company. There are five types of teams which a company may decide to use. Many other organizations around the world have benefitted from the use of teams in the production and operations management. This paper explores the use of teams in Starbucks.
Paper Doctorate
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As a result of the intense competitive in mobile phone industry, a plenty of mobile choices are launched to the market. For that reason, many marketing strategies have been introduced in order to compete with…
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Paper Masters
Sales Plan for Any Business
For any business the overall marketing or sales plan will determine how successful an entity will be. This is because new sales are the lifeblood of the business, without this consistency is when the company will…
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Risk and uncertainty are inherently part of the business world that affects all parts of production planning. Furthermore, such uncertainty is by no means a simple phenomenon. There are complex issues inherent in risk…