A marketing orientation drives strategic decision-making in most companies today. The business press is constantly discussing the efforts of companies to get close to their customers or to meet their needs better than the competition. Indeed, it is impossible to understand the current and potential financial success of companies today without a thorough understanding of their target markets, customer relationships, product development skills, and competitive advantages and disadvantages. Marketing is all about creating and capturing value. By providing superior value to customers, companies enhance their own value. The marketing concept is so pervasive in companies that a marketing orientation extends well beyond the marketing department. Marketing has become everyone’s job. This course will enable students to apply marketing tools and concepts, whether you work in the marketing department or not.Aims: A student that undertakes this course should: • Be able to understand the role of marketing in companies. • Be able to integrate the customer into every aspect of business planning. The core competence of marketing in any organization is its understanding of the customer. • Be able to appreciate how companies develop relationships with customers that provide lifetime value to both the company and its customers. • Be able to apply analytical tools appropriate for marketing analysis. • Be able to develop specific recommendations and actions plans for companies facing difficult marketing decisions.
On completion of this course unit, the students will be able to have: • Knowledge and Understanding of:o what a Strategy Really Is;o how to identify who the customers are;o what consumers really buy (benefits)o essential Marketing Concepts: Segmentation, Targeting, Positioning,Differentiation, Value Proposition;o how companies select from a variety of approaches to position their products;o the major market characteristics of the different stages of the PLC;o become familiar with some of the tools useful in New Product Development;o why most new products actually fail;o the function and purpose of communications and advertising;o Clarify the 5 M’s of advertising decision making (mission, message, money, media,measurement);o become familiar with the basic (MR=MC) Microeconomic model of price determination and its limitations;o some special pricing problems faced in industry today;o the difference between consumer and trade promotions;o the importance of Distribution;o how Distribution can serve as a competitive advantage;o Gain familiarity with the major branding decisions a business makes;o• Learn the ways to extend brand names to new products• View customers as assets (like technology and brands) that are used to generate revenues and profits;• Understand the structure and significance of relationship marketing;• Recognize the power of the Internet, with particular emphasis to marketing and security issues.ii Intellectual Skills - Demonstrate a systematic understanding of relevant marketing knowledge and how it benefits organizations, their external context and how it can be used for competitive advantage.iii Practical Skills - Apply relevant marketing knowledge to a range of complex situations taking account of its relationship and interaction with other areas of the business.iv Transferable Skills - Be creative in application of marketing knowledge, demonstratinga practical understanding of how established marketing techniques like marketing research and enquiry are used to develop and interpret knowledge in business and management.
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 BIT 2201 Marketing in the IT Sector.docx | 34.23 KB |