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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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Paper Undergraduate
Sales Plan for a Business
Define monthly goals for discovery calls, product demonstrations and cold calls and include in Salesforce.com for tracking and review.
Research Paper Doctorate
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Paper Undergraduate
Virgin Airlines company operations and business model
Virgin America has quickly established itself as one of the premier airlines operating throughout North America, generating $760M in Operating Revenues as of the close of its latest fiscal period reporting a Net Loss of $19M and operating margin of -1.6%. As Virgin competes in a very price-driven and capital-intensive industry, their latest financial results the exceptionally high pressure on new entrants into commercial aviation. Their latest financial results are shown in Appendix A: Virgin America Consolidated Statement of Operations and Appendix B: Comparative Operating Statistics, both obtained from the company's website. Analyzing their financial condition indicates just how challenging the launch and successful operation of an airline is. Their fuel costs increased 66.9% for the nine months between September 30, 2010 to September 30, 20112, and Aircraft Maintenance increased 51.5% in the same period. Both of these figures are shown in Appendix A. To reduce the costs of operations many commercial aircraft service providers also rent jets to mitigate the costs of purchasing them. The use of value-based and time-based pricing optimization pioneered by Virgin in the Australian and Asian markets has given the company an advantage in managing its cost of capital requirements as well (De Roos, Mills, Whelan, 2010). Virgin is expanding aggressively into new markets and this is costing the company a significant amount of their cash as well. In the nine months from September 10, 2010 to September 30, 2011, Virgin spent 26.4% more on landing fees and other rents. The total invested in the first nine months of 20-11 was $63M, a significant amount by any standard of commercial aviation (Hazledine, 2011). This also created the need for a high spending level in Guest Services, which jumped by 30% in the same time period, reaching $31M. Virgin continued to invest in these areas with the goal of ramping up their freight and third party logistics businesses, which are significantly smaller in their revenue contributions that the main Guest revenues. For the latest nine month fiscal period, Virgin generated $62.14M in revenues, a 26.4% increase in these non-passenger revenue business models. The high prices Virgin is paying for aircraft rents, maintenance, increased landing fees and operating expenses were important to establishing their freight businesses. Virgin however is finding the growth of their 3rd party logistics and non-passenger revenue slow in the business-to-business (B2B) markets globally.
Paper Doctorate
Issue paper on organizational policy and practice
Social media has become the most advanced form of communication and interaction in the current business landscape. It has significantly reduced the dependence of businesses on the traditional forms of communication including electronic and print media. Business analysts and researchers are of the view that social media has impacted the business community in both positive and negative ways. The purpose of this project is to analyze the impacts of social media on the business community in the United States. The project aims to acquaint the organizations' Management bodies with the ways and strategies by which they can manage their business operations effectively and align them with the changing globalization needs.
Research Paper Undergraduate
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Paper Doctorate
Ethical behavior in professional and organizational contexts
Would it be unethical for company "X" that has just constructed a new plant with pollution-emission restrictors to lobby the government for stricter anti-pollution laws that could affect company "X's" competition by…
Paper Doctorate
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Paper Masters
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The future of Coca-Cola seems quite bleak from where it stands today. The company has recently asked former executive E. Neville Isdell to step out of retirement and come back to the organization so it can progress in…
Research Paper Undergraduate
Color psychology as a tool in life coaching for personal transition
Color psychology is the study of color on human emotion, cognition, and behavior. Research reveals a distinct and measurable relationship between color stimuli and human emotional response. This paper seeks to add to the body of literature by focusing on applications of color psychology in life coaching. The goal of life coaching is to inspire clients to reach their highest potential. Color psychology can be used to this end.
Essay Doctorate
Marshall Executive Brief #3 Trade Policy Greece
This paper is about foreign exchange and international trade. The prompt relates to General Mills and its operations in Greece and France. So there is discussion of FX risk (or lack thereof), and of the impacts of the common market on trade between these two countries. There are some sections speculating about the nature of the international operations of this company.