Marketing Management 1 Discussion

W1 Lecture 1

Marketing Management

The Importance of Marketing

For this week’s lecture, please listen to the podcast and/or read the transcript below.

As you might appreciate, being, or becoming, an “expert” in marketing is a tough thing to do. I might have a few more experiences than you, but as we all learn – “the more you know, the more you learn what you don’t know”. I’ve had corporate and entrepreneurial marketing experience in most areas of marketing -from directing fund raising campaigns to developing marketing ads for external business operations that I was in; but, I’m constantly amazed at how much is changing around us and how much more there is to learn.

It has been said that all new important directions in management thought and practice are marketing oriented. Marketing is no longer something done when a company has extra revenue to invest. It MUST, and I emphasize MUST, be implemented for an organization to survive and prosper. The marketing concept which you’ll be reading about has changed in many ways over the last several decades. More recently it has been a matter of focus on customers (versus products and selling); marketing globally (or lose out); following, understanding and responding to the technology issues impacting the market; and creating, rather than just competing.

The marketing concept is not only a matter of increased marketing; it implies and means better marketing programs and implementation efforts. In addition, the “internal” market of every company has become just as challenging as the external marketplace due to the diversity in the workforce. I’m hoping you will learn how to apply this important management tool to your everyday organization behavioral questions.

This increasing level of market definition and refinement (and resulting opportunities for marketers) has been made necessary by the massive social, economic, and technological changes of the past three decades. The United States can no longer be effectively treated as a mass market, because the people who live here and their lifestyles have changed dramatically. In sum, the need for market analysis and marketing decision-making, and managers (YOU ) to perform those tasks, has never been greater. As you will see, the complexities of and analytical tools required for these activities are growing and changing. Be prepared for a challenging experience. I’m looking forward to sharing it with you.

https://lms.grantham.edu/webapps/blackboard/content/listContent.jsp?content_id=_5110267_1&course_id=_61406_1

Course Project: Develop a Marketing Plan

Marketing Management

Course Project: Develop a Marketing Plan

Throughout this course, you will be piecing together a marketing plan for a product that you select this week. Your weekly assignments are designed to help you build each component for the marketing plan.

With this in mind, be sure you pay special attention to the weekly readings and assignments, so that it will be easier to pull your project together and meet the deadline in Week 8.

You will not just compile all your assignments into one document; rather, you will need to edit your assignments to meet the criteria for the final Marketing Plan. To see the outline for the Marketing Plan, see the template (links to a PDF and website are below). Also, there is a guide to explain what each component of the Marketing Plan should include (see links to the Marketing Plan Guide below).

Click here to download a PDF version of the Marketing Plan Guide.

https://content.lpfservices.com/academics/LPF_MKG530/MarketingPlanGuide.pdf

Click here to download a PDF version of the Marketing Plan Template.

https://content.lpfservices.com/academics/LPF_MKG530/Marketin

Marketing Management

Why We Buy

Let’s become better acquainted before we jump into our discussion forum. Please respond to Question A before sharing your thoughts on Question B.

Question A

what you believe to be your current knowledge level of this course topic and what you hope to learn before the course is over. How do you intend to apply the knowledge you will gain from this course?

Question B

You will use EBSCOhost to find one article describing a firms’ product strategy. Cite and summarize that article in this post.

In your initial post…Discuss why this is the case, citing specific real-world examples of products that have been successful and products that have been unsuccessful.

rubric.