24108 Marketing Foundations

Subject level: Undergraduate

Handbook description

This subject covers the basic principles of marketing. It develops an understanding of the overall process of marketing planning, implementation and control in the contemporary business environment and also develops a basic understanding of marketing information systems; market research and marketing ethics; market segmentation; buyer behaviour; product development; and the development of product, distribution, promotion and pricing strategies for both goods and services domestically and internationally.

Subject objectives/outcomes

On successful completion of this subject students should be able to:

1. Understand the concepts of marketing and how these apply to profit and not for profit organisations involved in the domestic, international and global market;
2. Understand the factors that influence demand for products and services in order to facilitate exchanges between buyer and seller;
3. Critically analyse business situations and recommend appropriate strategic changes for development and implementation based on theoretical and practical dimensions of marketing;
4. Work collaboratively in the accomplishment of group tasks involved in the subject.

Contribution to graduate profile

This subject forms part of the core studies in the Bachelor of Business degree. It introduces students to the influences on demand for products and services and provides insight to implement strategies for facilitating exchanges between buyer and seller. It provides the theoretical building blocks for further marketing study

Teaching and learning strategies

The lectures and tutorials will incorporate a range of teaching and experiential learning strategies including UTSOnline, the discussion of current marketing issues, case study analysis and project work.

Content

• Marketing: Creating Excitement and Value - The basic concepts of marketing, marketing philosophies, marketing challenges of the 21st Century, strategic marketing and planning and the development of marketing plans.
• Marketing Behaviour and Strategies - The basic concepts of the marketing environment, information management and the use of marketing research, an understanding of behaviour in consumer markets and in the business markets, the principles of market segmentation, targeting and positioning.
• Developing the Marketing Mix - Consideration of products, goods, services and experiences, the process of developing new products, the concepts of distribution and logistics, advertising, public relations, sales promotion and selling, direct and online marketing and pricing considerations and approaches.
• Extending Marketing - The borderless global marketing concept and the issues of ethics and marketing compliance.

Assessment

This addresses objectives 1-3.

This addresses objectives 1-3. This assessment tests students' understanding of the factors that influence demand for products and services and whether they are able to implement strategies for facilitating exchanges between buyer and seller.

This addresses objectives 1, 3 and 4.

Examinations will be conducted under University examination conditions, and hence thoroughly address concerns regarding secure assessment. Group assessment will be secure through a combination of continual updating of assessment tasks across semesters, multiple topic choice within semesters, peer assessment techniques and/or plagiarism detection software.

Recommended text(s)

Kotler, P., Adam, S., Brown, L. and Armstrong, G. (2003) Principles of Marketing, (2nd ed.), Pearson Education Australia Pty Ltd, Sydney, Australia.