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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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Nike and Kellogg: MNE Internet Marketing Strategies
Multinational enterprises (MNE)s: Nike and Kellogg
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Motorola SWOT Analysis and Corporate Strategy Review
Business organization must keep an eye on the threats and opportunities present in their external environment. With this analysis, they can strategize to encounter the potential threats with their strengths and core competencies while avail the attractive opportunities to grow in the industry in a more competitive fashion. The success and sustainability of an organization largely depends upon the effectiveness of its corporate wide strategies and organizational structure; both must be aligned with its day by day changing business requirements (Mühlbacher, Dahringer, & Leihs, 2006).
Paper Doctorate
Philippines Risk Assessment for Australian Pharmaceutical Expansion
Globalization is an obvious trend that is catching on all over the world. Australia has also not been left behind in this. This has led to some Australian firms turning to multinational companies by opening up branches and offices in other foreign countries. The article below discusses on doing business in Philippines. It touches on business culture, economy and legal framework.
Research Paper Doctorate
Coca-Cola vs. Pepsi: Competing in Brazil's Soft Drink Market
Brazil is a hot country with terrible water and 140 million thirsty people. Therefore, there is nothing strange, perhaps, in the fact that a vicious war has broken out to persuade Brazilians to drink one kind of cola…
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AMD Strategic Analysis: Competing With Intel in Microchips
Advanced Micro Devices (AMD) is facing an uncertain operating environment. The company has developed strong technological competencies and built them into the number two market position in microchips, behind Intel.
Essay Doctorate
Nike Financial Analysis: FY2011 Performance and Investment Outlook
This paper is an analysis of Nike. There is a financial analysis, including ratio analysis. The company's revenues are discussed, along with its strategic objectives. The sustainability of its strategy is also subject to discussion. There is an assessment of the company's stock price as well, putting the analysis in the point of view of the investor.
Paper Undergraduate
International Marketing Management: Overseas Sales Strategy
Globalization has affected all features of every day life. It is present in the social, cultural, technological and even political sectors. Most common however, globalization is present in the economic and business…
Paper Undergraduate
Strategic Compensation: History, Design, and Global Practice
¶ … historic process by which strategic compensation arose.
Paper Doctorate
Starbucks Marketing Plan: US Growth and China Expansion
This paper is a marketing plan for Starbucks. It focuses on both the United States and on the People's Republic of China. It includes the marketing plan, a SWOT analysis, an environmental analysis, recommendations, evaluation techniques and measures and of course the four Ps. The plan is also contains an executive summary.
Paper Undergraduate
Social Media's Impact on Customer Experience and Trust
The role of social media is without question the single most disruptive innovation re-ordering the balance of power of customer relationships in all industries and nations. Social media has given consumers a clear, loud and very visible voice to share what delights and disgusts them about the performance of brands and companies. Social media is the most powerful communication, collaboration and potentially the most revolutionary channel for making customer relationships more effective than they ever have been before. These platforms were in place and functioning within the social fabric of nearly all industries with service industries including airlines, getting the brunt of complaints on Twitter, Facebook and through the many other social media sites. During July, 2009 a flashpoint event happened that showed just how potent the real-time communication and information velocity on social networks is. Dave Carroll watched as his expensive, professional-grade guitar was tossed and dropped on the tarmac buy United Airlines (UAL) baggage handlers. After nearly a year of fighting with UAL and getting nowhere, Dave Carroll did what anyone with his innate skills and talent did; he wrote a song, recorded it and created a very entertaining video which within seven days crossed well over 50 million views globally (Shambora, 2010). United was still unphased, and to this day will not mention it in their financial statements, even after a Harvard Business Review case study has been written on how not to manage a public relations crisis in social media. This event set in motion a powerful catalyst of customers going on the offensive with videos, creating blogs, writing tweets and doing Facebook posts on the walls of companies who delivered exceptionally good or bad service. Now three years since the initial event, there is a Social Customer Relationship Management (SCRM) revolution underway. The intent of this analysis is to show how the availability and use of social media on the Internet is changing how businesses operate. Social media delivers the most precious information a company needs to survive, and that includes the brutally honest opinion of how they are performing relative to their customers' expectations (Greenberg, 2010).