Marketing Marketing SyllabusSyllabus

InstructorInstructor

Abdel Fatah AfifiAbdel Fatah AfifiMA&T, MBA, PCT, ACPAMA&T, MBA, PCT, ACPA

22ndnd Semester 09/10 Semester 09/10

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IntroductionIntroduction

The aim of the syllabus is to introduce the basic concepts of Marketing to students who intend to specialize in this area of study

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Nature of MarketingNature of Marketing

1. The meaning of the marketing concept.

2. The idea that marketing consists of a range of activities, including pricing, promotion, distribution and product design. Understanding the needs of the consumer and seeing if these can be profitably met. The difference between 'selling' and 'marketing'.

3. Producer and market-oriented firms.

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Nature of Marketing (C0nt.)Nature of Marketing (C0nt.)4. Distinction between 'seller'

and 'buyer' markets. Producer (supply) and market (demand) oriented firms. Production, Product, Sales and Consumer orientations. The societal marketing concept.

5. Marketing and the not-for-profit organizations.

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Nature of Marketing (C0nt.)Nature of Marketing (C0nt.)6. The application of

marketing to not-for-profit organizations.

7. The functions of the Marketing Department.

8. The role of the marketing department. 'Marketing' as a corporate business philosophy.

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Marketing EnvironmentMarketing Environment

The Company's Micro and Macro environments and their components.

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Types of MarketsTypes of Markets1. Differentiation between Consumer,

Reseller, Business, Government and International Markets.

2. Consumer and organizational markets.

3. Differentiation between consumer and organizational markets. Reasons why people and organizations buy products and services. The decision-making process of these two types of buyers.

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Marketing research toolsMarketing research tools1. Objectives and purposes of

marketing research.2. Marketing research as a basis for

management decision-making. Establishing a gap in the market, establishing level of demand for pricing policy, investigating consumer reaction to a new product, or to an advertising campaign. Assessing the effectiveness of distribution.

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Marketing research tools Marketing research tools (Cont.)(Cont.)

3. Qualitative and quantitative research.

4. Distinction between subjective and objective data. The basic distinction between a sample and a census.

5. Primary and secondary research.6. Primary research representing

original research into consumer preferences, and secondary, using existing data e.g. government statistics on consumer patterns etc.

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Marketing research tools Marketing research tools (cont.)(cont.)

7. Methods of conducting primary market research.

8. Face-to-face interviews, postal questionnaires, telephone interviews, group and individual interviewing, observations and experimentations.

9. The marketing research process.

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Marketing research tools Marketing research tools (cont.)(cont.)

10. An outline of the marketing research process.

11. Limitations of Marketing Research.

12. Limitations: cost, accuracy, time and security.

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Market SegmentationMarket Segmentation1. The purpose of segmentation.2. Accurate targeting of the

product to find the correct niche. Enabling the company to provide variation in the product to ensure maximum sales and to design and target advertising accurately and do this efficiently. Market targeting and product positioning.

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Market Segmentation Market Segmentation (Cont.)(Cont.)

1. Methods of segmentation of consumer markets.

2. Considerations of various factors: demographic, geographic, lifestyle, geo-demographic, socioeconomic, benefits sought, etc.

3. The target marketing and product positioning process.

4. The essential steps in the market segmentation, target marketing and product positioning process.

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The Marketing MixThe Marketing Mix

1. Marketing Mix.2. The importance of achieving

the correct balance between the 'seven Ps' (Product, Price, Place, Promotion, People, Process and Physical Evidence).

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The ProductThe Product1. Goods and Services.2. Distinction between goods

and services and their characteristics.

3. Product classification.4. For Consumer goods/services:

convenience; shopping; specialty; unsought; and consumer services.

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The Product (Cont.)The Product (Cont.)5. The process of product

development.6. An outline of the process of

development from the generation of new ideas to full commercial launch.

7. The product life-cycle.8. Description of the stages of the

product life cycle.9. Branding.

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The Product (Cont.)The Product (Cont.)10.The importance and benefits of

branding.11.Packaging.12.Packaging as a marketing tool.

Six essentials of packaging: distinction, protection, convenience, transportation costs, immediate association, characteristic.

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PricingPricing1. Pricing objectives.2. Short- and long-run profit

maximization, minimization of losses, counter competitive strategies, enter and control market niches/or the total market, market growth, helping the brand to become a leading brand. Internal and External influences on pricing.

3. Pricing methods.

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Pricing (Cont.)Pricing (Cont.)

4. Different methods considered, including cost-plus, penetration, skimming, promotion and price discrimination.

5. Definition of price elasticity of demand.

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Marketing Marketing CommunicationsCommunications

1. The aims of marketing communications (promotion).

2. Persuading, reminding, informing and reinforcing a message. The AIDA model.

3. Different types and tools of marketing communications.

4. Advertising, sales promotion, public relations, direct marketing and personal selling. Definitions and the advantages and disadvantages of using these five tools.

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Marketing Marketing CommunicationsCommunications

5. The personal selling process.6. The seven steps of the

personal selling process: the opening, need identification and stimulation, presentation, dealing with objections, negotiation, closing the sale and the follow up.

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Distribution (Place)Distribution (Place)1. Different 'chains' or 'channels'

of distribution.2. The functions and types of

intermediaries between the manufacturer and consumer. Criteria for choosing the appropriate channel.

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The Marketing PlanThe Marketing Plan

1. The benefits of planning.2. An outline and contents of a

marketing plan.3. Taking account of the existing

situation, drawing together the understanding of the competition

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The Marketing Plan The Marketing Plan (Cont.)(Cont.)

4. and state of the market, e.g. SWOT analysis. The outline and content of a marketing plan:

5. Statement of marketing objectives, strategies and tactics, an operating plan, details of resources and financial budgets.

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International MarketingInternational Marketing1. Reasons for entering an

export market.2. The global village. Reasons

for selling overseas such as profit opportunities, maturity of the domestic market, economies of scale and risk spreading.

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International Marketing International Marketing (Cont.)(Cont.)

3.The major trading blocs.4.Advantages and

disadvantages of joining a trading bloc. Malta and its trading partners.

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Consumerism and Customer Consumerism and Customer Relationship MarketingRelationship Marketing

1. Consumerism.2. An introduction to

consumerism and its meaning, consumer rights to safety, information, choice and to be heard.

3. Relationship marketing, customer value and customer satisfaction.

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Consumerism and Customer Consumerism and Customer Relationship Marketing (Cont.)Relationship Marketing (Cont.)

4. Defining relationship marketing and distinguishing between 'customer value' and 'customer satisfaction'. The importance of relationship marketing in building customer relationship and customer retention.

5. Environmentalism, green issues and marketing. Waste Management. – the 3 R’s.

6. Ethical consideration notably the motivation/manipulation area of promotion.