BUS203: Principles of Marketing

Description

In this course, you will learn about the marketing process and examine the range of marketing decisions that an organization must make in order to sell its products and services. You will also learn how to think like a marketer, discovering that the focus of marketing has always been on the consumer. You will begin to ask, "Who is the consumer of goods and services?” What does the consumer need? What does the consumer want? Marketing is an understanding of how to communicate with the consumer, and is characterized by four activities: Creating products and services that serve consumers Communicating a clear value proposition Delivering products and services in a way that optimizes value Exchanging, or trading, value for those offerings Many people incorrectly believe that marketing and advertising are one in the same. In reality, advertising is just one of many tools used in marketing, which is the process by which firms determine which products to offer, how to price those products, and to whom they should be made available. We will also explore various ways in which marketing departments and independent agencies answer these questions – whether through research, analysis, or even trial-and-error. Once a company identifies its customer and product, marketers must then determine the best way to capture the customer’s attention. Capturing the customer’s attention may entail undercutting competitors on price, aggressively marketing a product with promotions and advertising (as with "As Seen on TV” ads), or specifically targeting ideal customers. The strategy a marketing firm chooses for a particular product is vital to the success of the product. The idea that "great products sell themselves” is simply not true. By the end of this course, you will be familiar with the art and science of marketing a product.



Have you tried this resource?

Help someone out by sharing your thoughts!

Write a review

Have questions about K-12 education?

Ask our community of thousands of teachers, homeschoolers, and parents! Or see recently-asked questions.

Ask a Question

More Ways to Learn Marketing

Free

Channel Management and Retailing


College | Online class

Nowadays a distribution strategy is part of the DNA of many companies and a correct channel management is key for the success of your product. Distribution plans need to be prepared for the long...

Free

Integrated Marketing Communications: Advertising, Public Relations, Digital Marketing and more


College | Online class

About this Course Just how familiar are you with a marketing communication campaign? Learn more about this key pillar in the marketing mix and use it to give the push your product or service needs....

Free
Paid add-ons

Introduction to Marketing


College | Online class

Taught by three of Wharton’s top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers three core topics in customer loyalty:...

Free

Engagement & Nurture Marketing Strategies


College | Online class

In this third course in the Social Marketing Specialization – “The Engagement & Nurture Marketing Strategies” – you will learn two of the most effective social strategies used by organizations...

$90

Professor in a Box: Principles of Marketing


High School | DVD, Book

Introduce your older students to the fundamentals of commerce with this easy-to-use elective! Just watch the lectures, complete homework problems, check solutions, and take the exams. Future...

Free

Intro to International Marketing


College | Online class

About this Course About this Course This course brings together two key subjects, International Marketing and Cross Industry Innovation. It will provide the basic foundations of international...

Free

International Entertainment and Sports Marketing


College | Online class

This course will provide learners with a fundamental understanding of the characteristics and marketing strategies related to two key global industries, sports and entertainment. Both are...

Free

Take your product through the Marketing Mix


College | Online class

In this Specialization we will delve into the marketing mix and the skill-set needed to implement successful marketing strategies. Join us and explore the four key concepts of the marketing mix...

Free

International Hospitality & Healthcare Services Marketing


College | Online class

As the fastest-growing sectors of the current global economy, both hospitality and healthcare services sector offer tremendous growth opportunities for incumbents and entrepreneurial opportunities...

Free

Marketing Mix Implementation Capstone


College | Online class

About this Course The Capstone project gives you the opportunity to put into practice what you have learned in this specialization through one of two options: I – Help a major company find...

Free

International Marketing & Cross Industry Growth Capstone Project


College | Online class

This course will act as the culmination of the Specialization: International Marketing & Cross Industry Growth. The aim is to help learners apply what they have learned during the 16 weeks of...

Free

International Marketing Entry and Execution


College | Online class

This will be part 2 of a two-series foundation courses for the Specialization: International Marketing & Cross Industry Growth. This course will dive in more deeply into consumer science...

1
$6

Marketing Mix - Place Decision

High School - College | Worksheet/Printable

Marketing Mix plays an important role in life of any company. In this File you will find: 1 Marketing Mix - Place Decision Lecture Power Point Presentation 1 Marketing Mix - Place Decision Seminar...

Free

Marketing: Understanding Your Customers


College | Online class

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the...


See all resources for Marketing

Links to supporting retailers are recognized and built automatically, so we can provide you with truly unbiased listings.
We receive a small share of sales from those links to help us keep this service free for all learners. Thanks for your support!

Frequently Asked Questions

What is BUS203: Principles of Marketing by Saylor Academy?

BUS203: Principles of Marketing is a learning resource for Marketing. It is available in the following format(s): Online class. It is suited for College students.

What grade level is BUS203: Principles of Marketing by Saylor Academy appropriate for?

It is designed for College students, but could be useful for students of other ages as well; please look at the description and images to determine suitability.

How much does BUS203: Principles of Marketing by Saylor Academy cost?

It is free!