Applied MarketingMGT 254
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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
- 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