Marketing’s focus has shifted from stressing the combination of product, quality, position and promotion to one that emphasizes value development, communication, distribution and exchange. Value is a function of the benefits that a customer receives and is made up of the price paid by the consumer and the time and effort that the person spent making the purchase. Marketing delivers value for both consumers and companies by facilitating transactions. This cycle creates jobs at a broader level and increases the quality of life in a community. Marketing can be expensive, and so businesses need to employ qualified people to handle their marketing activities. Being responsible for both making money for the business and providing customer service makes marketing a great career.
This course is deliberate to provide students with an understanding of the principles of Marketing. Despite the new trends in marketing like any social science, marketing has basic principles, and these principles need consideration when making any marketing decision. So, the primary step of a marketing student, if a young university student or an experienced business executive, is to understand marketing principles. This course is rich in real-world illustrative examples and applications, showing the significant decisions that marketing managers’ face in their efforts to balance the organization’s objectives and resources against the needs and opportunities in the global marketplace.