Monash College Unit Guide

MARKETING 1: MARKETING THEORY AND PRACTICE (MCD2050)

Purpose

This unit is designed to provide a broad understanding of the formal discipline of marketing and of the key marketing activities in business.

Prerequisites

Nil

Learning outcomes

On completion of this unit, students should be able to:

1. Identify and explain the evolution of the marketing concept.
2. Identify the components of the marketing plan and how it relates to the strategic plan.
3. Analyse marketing information systems and identify their relationship with marketing research.
4. Explain the factors that can affect an organisation's marketing ability.
5. Identify the significance of consumer behaviour on consumer markets.
6. Identify the bases for market segmentation and apply this information in selecting target markets and developing positioning strategies for those markets.
7. Analyse the elements that constitute the product strategy and describe the new product development process and the necessity for it to be applied consistently to the commercialisation of any new ideas.
8. Explain the role of logistics as it relates to marketing strategy and how it can contribute to the development of a firm's competitive advantage.
9. Analyse the promotional function as it relates to an organisation's marketing program.
10. Explain the factors that affect pricing decisions and describe different pricing approaches.

Assessment

Essays, tests or other assignments: 50%

Examination: 50%

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