LEARNING OUTCOMES
Principles of Marketing is the basic introductory course in the concepts of marketing, a key function of the management structure of a company, which contributes decisively to the efficiency and effectiveness of the company in the modern dynamic environment.
The aim of this course is for the student to gain a comprehensive understanding of marketing processes, methodologies and techniques, such as the role of marketing in strategic business planning and strategic marketing planning, marketing research, consumer and buyer behavior, segmentation-targeting-positioning, marketing mix decisions concerning product, pricing, distribution and promotion, as well as specific areas of marketing such as industrial marketing, service marketing, banking marketing, international marketing.
Upon successful completion of the course the student should:
1. Explain the basic functions of marketing and describe how they are integrated into the
business value chain
2. Recognize key elements of marketing strategy
3. Distinguish and explain the different strategies used for different markets
4. Recognize the elements of the marketing environment and explain how to make decisions
5. Explain the dimensions of the marketing mix and analyze the role they play in marketing planning in order to control demand
6. Demonstrate that (s)he understands the whole marketing process in relation to the ethical issues that arise and the ability to propose appropriate measures
7. Analyze and evaluate a marketing plan of an existing product or service and organize and conduct a market research, and present its findings in writing and orally, through participation and collaboration with fellow students in small groups.
SYLLABUS
Introduction to the concept and philosophy of marketing
The marketing environment
Basic concepts of consumer and buyer behavior
Market research and marketing information systems
Market segmentation, evaluation of market segment attractiveness
Target market selection, product placement in the target market
Marketing strategy and marketing mix
Product policy and product life cycle
Product portfolio management
Pricing policy
Distribution policy – distribution channels
Promotion policy – advertising and sales promotion
Promotion policy – public relations, publicity and sales
Feedback on teamwork in marketing research
Reflection on the learning outcomes and exam preparation