Build a high-performance, high yielding marketing plan from the ground up.
Duration: 8 weeks
In MBA 661 Marketing Management, you will begin with learning the field’s commonly used terms. Armed with this new “language,” you will dissect vision and mission statements to understand the difference between the two and how to create them. Since not every product is for every person, you will delve into target markets, and learn how to best match potential consumers to your product/service. You will understand the roles played by differentiation and positioning in defining your product. From the new product process to reasons why products and services fail, you will be able to see how these concepts apply to your own organization.
While we tend to think of marketing in terms of products, almost half of our country’s gross domestic product is derived from services. You will explore how to apply product marketing concepts to a service industry and make services seem tangible. Image is the most important factor in services marketing, and you will consider the importance of customer service and response in making a services company stand out from the competition. You will also understand the need for effective promotion for services. Sustainability is becoming more than a buzzword. Green or environmentally friendly products and services are increasingly creating business value, and you will see how to incorporate the concept of sustainability into advertising.
What You Will Learn in MBA 661
Consumers and organizations each go through a five-stage purchase decision process. You will explore and compare these key steps as you come to understand the differences of consumer behavior and business marketing/organizational markets. You will also identify the three organizational markets and the economic impact of organizational buying. Market research is key to any marketing plan. You will become familiar with the steps of the market research process, how market research can be used, and the tools used to receive consumer feedback. You will develop survey and focus group questions to better understand the feedback collection process. While very different than marketing, promotions are not standalone functions and must be part of an integrated marketing communications approach to be successful. You will acquire a better understanding of the promotional mix and its role in a marketing plan.
Assuming the role a marketing consultant, you will choose from a selection of new product ideas and complete a two- to three-page paper identifying and detailing the product’s best target market.
Brand management helps build businesses, increase sales and create awareness. All the steps of developing a promotional and advertising program constitute the major functions of brand management. You will review materials that illustrate how companies are moving consumers from simply using products to enjoying product experiences. You will also learn how social media is being leveraged as a powerful promotional tool and you will consider the future value of this constantly evolving tool.
Throughout this course, weekly topics may include but are not limited to:
- The Foundation of Marketing
- Target! Differentiate! Position! Promote!
- Marketing Services
- Sustainability in the Marketing Environment
- Market Watch: Consumer/Organizational/Research
- Research/IMC Process/Promotional Mix
- Build Your Brand
- Social Media and Team Marketing Plans
Course Learning Outcomes
Upon successful completion of MBA 661, you will be able to:
- Define the key marketing terms, concepts and principles.
- Contrast the concepts of market segmentation, product differentiation, and positioning.
- Develop a comprehensive marketing plan and discuss the features of the plan.
- Identify sustainability and the impact of eco-friendly trends in marketing.
- Apply marketing strategies for service-based businesses.
- Examine the purpose, use, and applications for market research.
- Discuss the importance of brand management.
- Explore the impact of social media in marketing.
Request More Information Today
To learn more about the online Master of Business Administration curriculum from Benedictine University, including Marketing Management, call (866) 295-3104 to speak with a program manager or request more information.
Course content and outcomes may vary and are subject to change without notice.