COURSE DESCRIPTION:
It is arguably true that marketing is the only business activity that produces revenue. Without revenue no business can exist. As such, marketing may be the most critical activity that a business or organization can engage in. By the same token, businesses and organizations need to produce products or services; manage operations; keep track of expenses and revenues; as well as organize and distribute information.
Three distinct skills or understanding is important to be achieved from this course.
- Understanding the basic principles and concepts underlying the marketing function.
- Developing a basic understanding of Critical Thinking and how it integrates into the Marketing/Business environment.
- Gain some experience in applying marketing concepts to business decision making activities and processes through the understanding of the concept of unintended consequences.
In order to develop skills and understandings, several approaches will be taken. There will be seminar style lecturers, projects to help you apply concepts to the real world, and videos to be watched.
Our aim is not to make you experts in marketing, rather to help you discover and appreciate how marketing concepts and the marketing orientation can help you, especially in building your individual business, if you are to become successful.
Expectations: Please practice reading books on the subject, take notes during class, spend time studying, and come prepared knowing the type of niche you wish to launch.
FID lecturers will not accept average performance, as being average is not the way of the greats!
We expect you to THINK about the material, not just memorize a few words or terms. The key skill for you to learn will to be to develop critical thinking with respect to marketing problems, opportunities and competitive issues.
Course Objectives:
The emphasis of the course is on the appreciation, understanding and application of the fundamental concepts of marketing. Thus, towards the end of the course, students are expected to display a comprehensive knowledge on the dynamics of the market forces and its impact on the marketing mix. It is expected that the knowledge and understanding developed throughout the course would serve as a foundation for the higher-level marketing courses. The course is designed to help students achieve the following:
- Business Knowledge: The language of marketing – its terms and definitions
- Product life cycle, positioning, segmentation, differentiation
- Consumer and business decision making processes
- Penetration pricing
- Communication and Ethics
- Critical Thinking
- Develop innovative ideas
