Marketing 1 (MM51) (2024)

Understand marketing, marketing functions, marketing mix components (4 P's), marketing strategies and tactics, target market identification, segmentation, the need for marketing research and data, and career opportunities in marketing. 

Understand product/service management, branding, product life cycles, new product development, marketing of services, product positioning and the technological, legal, and ethical components of product/service management. 

Understand promotion and types of promotion including selling and the technological, legal, and ethical components of promotion. 

Understand pricing and factors affecting pricing decisions including technological, ethical and legal considerations. 

Understand channels of distribution and supply chain management and the technological, legal, and ethical components of channel management. 

Explain marketing and its importance in a global economy. 

Describe marketing functions and related activities. 

Explain employment opportunities in marketing. 

Explain the concept of marketing strategies. 

Explain the concept of market and market identification. 

Describe the need for marketing data. 

Explain the nature and scope of the product/service management function. 

Explain the concept of product mix. 

Identify the impact of product life cycles on marketing decisions. 

Explain business ethics and describe the use of technology in product/service management. 

Explain the role of promotion as a marketing function. 

Explain the types of promotion. 

Identify the elements of the promotional mix. 

Explain the nature and scope of the selling function. 

Explain the role of customer service as a component of selling relationships. 

Explain the selling process. 

Explain the nature and scope of the pricing function. 

Describe the role of business ethics and legal considerations in pricing. 

Explain factors affecting pricing decisions. 

Explain the nature of channels of distribution. 

Explain the nature and scope of channel management. 

Describe the use of technology in the channel management function.