The course is designed to provide a broad understanding of marketing management and the role of marketing in the society. The essence of marketing management is assessing and solving marketing problems. As may be perceived by lay people, marketing cannot simply be managed by intuition. Similarly, marketing management course is not simply information to be memorized.
Course content can be roughly divided into two parts. The first part focuses on the concepts, tools, and analyses that underlie marketing decisions. We will examine marketing strategies, buyer behavior, and the information link between the environment and the decision maker. The second part of the course focuses on using these concepts, tools, and analyses to make marketing decisions. We will examine the elements of the marketing mix, namely product, price, place (distribution), and promotion (communication). The design of these elements should be consistent in order to reach consumers.
Every course in the business school is, in some sense, a strategy course; in other words, in everything you study as a business student and in all your decisions as a business person, you should have in mind a corporation’s overall plan, in particular its objectives and the advantages and corporate strengths it will use to achieve them. What distinguishes marketing (in terms of both strategy and execution) from, say, corporate strategy, can be summarized in a single word: CUSTOMERS. The primary task of marketing is to achieve the corporation’s overall business objective by creating and communicating value to the customer. So, throughout the course, we will have to keep both ends of the process in view at all times: What is the business trying to achieve? What does the customer want?