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Applied Marketing

MGT 254

Applied Marketing

MGT 254

Course Description

Prerequisite: ENG 111 (or OAT 151) and MGT 243 each with a minimum grade of "C", and MGT 143. Introduces strategic marketing decisions using cases and real life experiences. Introduces the conception, development and implementation of a marketing activity, that will be conducted by the students, with an actual budget. Uses practical experience in preparing and giving several types of presentations to live audiences. (45-0)

Outcomes and Objectives

Demonstrate an understanding of actual business situations permitting further familiarization with marketing principles and methods as they are employed in various industries.

Objectives:

  • Discuss the basic nature and scope of marketing
  • Describe the various types of business settings, such as retail stores, specialty shops, and catalog houses
  • Describe the various types of wholesale settings that will interact with the marketing process, such as a buying office, consulting firm, mills, and trade associations

Demonstrate an understanding of the roles of promotion and the global nature of promotion.

Objectives:

  • Explain reasons for the transition to a global perspective
  • Discuss the concept of thinking globally, acting locally
  • Discuss future trends for global marketing

Demonstrate an understanding of the promotion mix.

Objectives:

  • Define advertising
  • Define direct marketing
  • Define sale promotion
  • Define publicity and public relations
  • Define personal selling
  • Define special events
  • Define fashion shows
  • Define visual merchandising

Demonstrate an understanding of the promotional structure.

Objectives:

  • Describe the fundamental tasks of promotional personnel
  • Discuss characteristics of successful promotional personnel
  • Describe how retailers are organized
  • Describe how manufacturers are organized
  • Discuss how in-house promotions are organized
  • Discuss how advertising agencies are organized
  • Identify future trends in promotional organization

Demonstrate an understanding of promotion planning.

Objectives:

  • Describe the planning time frame
  • Identify the personnel responsible for promotion planning
  • Discuss strategic analysis
  • Discuss mission statements
  • Discuss promotion objectives
  • Apply promotional objectives

Demonstrate an understanding of promotional calendars.

Objectives:

  • Describe a trade calendar and it's use
  • Describe a retail calendar and it's use
  • Identify promotional mix calendars
  • Identify future trends in promotion planning

Demonstrate an understanding of budget.

Objectives:

  • Discuss various methods of budget allocation
  • Demonstrate allocating a promotional budget
  • Demonstrate allocating a manufacturing promotional budget
  • Describe allocating advertising agency compensation
  • Describe ways to extend the budget through cooperative activities
  • Identify future trends in budgeting

Demonstrate an understanding of the promotional aspects of forecasting.

Objectives:

  • Explain forecasting
  • Identify forecasting personnel
  • Discuss the relationship of forecasting to promotional activities
  • Define primary market forecasts
  • Define secondary market forecasts
  • Define tertiary market forecasts
  • Discuss theme development
  • Identify trends for forecasting and promotion

Demonstrate an understanding of the role of special events in promotion

Objectives:

  • Identify the goals of special events
  • Describe the types of special events
  • Discuss institutional events
  • Discuss merchandise events
  • Conduct a feasibility study
  • Identify the personnel involved in special events
  • Discuss the size and scale of events
  • Discuss financial considerations related to special events