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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
Aztec\'s Capital Investment Company Overview
Objective of this report is to carry out the investment analysis for Aztec Caterings. Investment appraisal carried out reveals that the net present value is greater than one showing that the present value of the expected cash flow is greater than the actual fund invested in the project making the paper to recommend that the company should pursue the project.
Paper Undergraduate
Entertainment and art in contemporary culture
Analyzing the Live Nation brand needs to start with the experience customers have when they purchase tickets and attend concerts. The value of live events is in how effectively there are promoted and how easily customers can quickly gain access to tickets, ticket packages and entire entertainment packages. Live Nation's branding has concentrated more on the performers, less on the experience, and have also not paid attention to the mobility factors including having a solid smartphone and table strategy (Tabitha, Hede, Rentschler, 2009). While the actual events the company produces and delivers are exceptional, the experiences of booking them are often problematic and require personal assistance from telephone service centers and customer service representatives. The more complex the event, the more manual the process becomes within Live Nation. After analyzing their financial statement, this fact became clear; the more gross margin they generate the higher their costs of sales. The hard reality for Live Nation is that the more attractive or exclusive the event, the more challenging they become to buy from. From a branding perspective, this is exactly the opposite of what they want to achieve. The essence of entertainment branding is a solid foundation of setting accurate, realistic customer expectations and then deliberately exceeding them on every fact of the experience, beginning with ticket purchased, through getting to and attending the event and the memories that have been formed as a result (Pihlström, Brush, 2008). Entertainment brands grapple with a particularly challenging set of circumstances, as the brand must reflect the overall experience and identity of the business while also managing to define and execute against expectations effectively (Hemphill, 2003). Nowhere is this shift more apparent than in the areas of mobility platforms and support for multiple marketing and selling channels (Verkasalo, 2011). Live Nation has failed to capture the full value of mobility platforms for entertainment, and as a result is in danger of seeing their entire business model become obsolete. The advent of mobility-based branding that supersedes and becomes even more strategically important than off-line (print) and online presence via websites was predicted six years ago and is today gathering momentum quickly (Vlachos, Vrechopoulos, Pateli, 2006). For Live Nation to retain and grow its customer base and also fend off competitors, it will need to concentrate on its mobility strategy not at the event level as it does today, but from a platform perspective, just as the company has done with the Web in the past (Okazaki, Barwise, 2011). For Live Nation the future requires that they make the brand part of the experience itself; today they are disjointed in a very competitive, turbulent market.
Paper Undergraduate
Health care discussion questions
This paper deals with two important issues in healthcare administration which present challenges in the day to day running of activities within the healthcare organizations. The first question is on the importance of the Marketing Health Service quarterly magazine. The second question is on strategies to ensure proper utilization of empty beds.
Research Paper Doctorate
Differentiation strategies in low-cost markets
Wal-Mart is the big gorilla on the street when it comes to marketing. Whether the store is a store located in Sandy, Utah or possibly Huber Heights, Ohio the customer finds the same items located in the same place in…
Research Paper Doctorate
Third Class of Drugs
In the United States, all pharmaceutical products: from Advil to Zoloft, are sold either as over-the-counter remedies or as prescription drugs. Over-the-counter remedies like Advil, aspirin, and Tylenol, can be…
Paper Undergraduate
Women Are Well-Suited for Executive
¶ … women are well-Suited for executive level positions in marketing.
Paper Undergraduate
Competition as Well as Technological
¶ … competition as well as technological knowhow has forced several firms to resort to supply chain management as an integral elements of their strategic competence with the belief that it can create an acceptable level…
Research Paper Doctorate
Automobile Internet Industry Analysis
Marketing Techniques That the Automobile Industry Uses on the Internet
Case Study Undergraduate
How Does Branding Affect Consumer Purchasing?
DBA Qs 1: How Branding Affects the Buying Decision "How Does Branding Affect Consumer Purchasing?". Using this research question, analyze the strengths and weaknesses of each research method (qualitative and quantitative) within the scope of the proposed dissertation topic. Identify which method you will select (or state whether you will use a mixed methodology) and explain the reasons for your choice. DBA Qs 1 Answer The marketing guru Philip Kotler perceives branding as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers." It has also been adopted by the American Marketing Association.
Essay Masters
Business communication across different cultures
The paper topic is business communication across cultures. The paper examines the internal and external factors that contribute to successful and ineffective forms of intercultural communication. The paper additionally considers components of individual identity and national identity that influence how people communicate. The paper defines what it means by business communication and offers strategies to achieve clear communication among peers of various cultures and differences.