MKT6113- Course Outline- 2021-2022

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Lambton College *

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Marketing

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Nov 24, 2024

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MKT-6113 Applications of Marketing Concepts Business Course Number: Co-Requisites: Pre-Requisites: MKT-6113 N/A N/A Prepared by: Carly Vandenende, Business Faculty Approved by: Chris Perkins, Dean Approval Date: Tuesday, June 8, 2021 Approved for Academic Year: 2021-2022 Credit Weight: 3.00 Course Description This course uses a case-study approach to introduce students to foundational concepts in the ever-changing marketing environment. Students analyze and solve common marketing challenges through the evaluation of real- world marketing case studies. Students examine the current marketing environment including concepts such as environmental scanning, segmentation, targeting and positioning, and marketing research. Students deepen their understanding of the marketing mix with analysis of product development and branding, pricing, distribution, and the many types of traditional and digital promotions. In addition to case analysis, students further develop their abilities to make informed marketing decisions through simulation exercises designed to emulate real-world scenarios faced by marketing managers. Course Learning Outcomes/Course Objectives 1. Evaluate the significance of the marketing mix in the development of a firm’s marketing plan 1.1 Define marketing and explain the importance of discovering and satisfying consumer needs and wants 1.2 Differentiate between goods, services, and ideas 1.3 Describe the elements of the marketing mix 1.4 Identify the meaning of ethics and corporate social responsibility and how they relate to the individual, the organization and society 2. Utilize marketing research to support marketing strategy and decision-making 2.1 Explain the value of market research and how it supports marketing strategy and decision-making 2.2 Describe the stages in the marketing research process 2.3 Differentiate between the three main types of research: exploratory, descriptive and causal research MKT-6113 - Applications of Mktg Concepts, Page 1/7 © 2021 Lambton College

2.4 Identify primary research tools and when they are best to use 2.5 Identify secondary research tools and when they are best to use 2.6 Describe the steps and best practices involved in creating a primary research survey 2.7 Create a survey to collect descriptive research on a chosen product or service 2.8 Utilize secondary research on a chosen product, industry and target market, to support marketing strategy and decision-making 3. Apply a variety of market segmentation techniques and product positioning strategies to maximize target market opportunities 3.1 Explain market segmentation and its relevance to marketing 3.2 Describe the common characteristics used to segment a market 3.3 Describe the steps involved in selecting a target market 3.4 Describe the three main approaches for target marketing strategies: undifferentiated, differentiated, and concentrated 3.5 Create a buyer persona from a customer segment 3.6 Explain the concept of positioning and why it is important to marketers 3.7 List the common positioning errors and how they can be avoided 3.8 Craft a positioning statement that accurately reflects a product’s market position 4. Evaluate product management strategies depending on the stage in the product lifecycle 4.1 Identify the core benefits and attributes of a brand 4.2 Describe the functions and benefits that packaging and labeling provide 4.3 Differentiate between the four types of consumer products in terms of consumer behaviour and how they are marketed 4.4 Explain the stages of the product life cycle and the appropriate market strategies to employ at each stage 4.5 Describe the ways that product life cycles can be extended 4.6 Analyze the product life cycle for a given product/service and provide recommended strategies for success in the market 5. Analyze the elements of a brand and how branding contributes to the success of products or services 5.1 Describe the elements of a brand and how brands add value to an organization’s products and services 5.2 List the various branding strategies 5.3 Explain the steps involved in establishing brand identity 5.4 Evaluate a branding strategy for a chosen product or service to identify opportunities for growth and development 6. Evaluate the role that retailing plays in the overall marketing channel strategy MKT-6113 - Applications of Mktg Concepts, Page 2/7 © 2021 Lambton College

6.1 Describe the benefits that retailing and wholesaling provides to consumers 6.2 Describe the common types of retail stores and how they are distinguished 6.3 Explain the changing retail landscape and current trends impacting the industry 6.4 Outline strategies retailers are employing to address shifting consumer preferences and behaviours 6.5 Describe elements of the physical store environment and store layouts 6.6 Describe the in-store retailing strategies that influence consumer purchase experience and improve shopper-store interactions 6.7 Critique the physical store environment and in-store strategies for a chosen retail location 7. Evaluate pricing strategies to enhance the marketing of products and services 7.1 Explain the approaches to pricing and the major factors considered in setting a price 7.2 Define price elasticity of demand 7.3 Discuss the value of break-even analysis and conduct break-even calculations 7.4 Describe the common pricing strategies for establishing a price 7.5 Describe the two common pricing strategies when introducing products to market: price skimming and penetration pricing 7.6 Describe psychological strategies in pricing and how they impact the consumer 7.7 Prepare a pricing strategy for a selected company that aligns with organizational pricing objectives and considers relevant costs, demand, and revenues 8. Prepare a distribution strategy to market an organization's products and services effectively 8.1 Explain what distribution channels are and the role that intermediaries play in the distribution function 8.2 Describe the benefits that marketing channels provide and why they are needed 8.3 Contrast the types of direct and indirect channel structures 8.4 Evaluate the factors considered when selecting and managing a distribution channel 8.5 Develop a distribution channel strategy to effectively reach a chosen target market 9. Evaluate traditional and online promotional strategies and how they can be designed to achieve marketing objectives 9.1 Explain current trends affecting marketing communications 9.2 Describe the integrated marketing communications (IMC) approach and its alignment with the SUCCESs model for breaking through advertising clutter 9.3 Evaluate the different elements of the promotional mix and when they are best to use 9.4 Explain how various promotion mix elements help move buyers through the decision-making process 9.5 Describe the role that digital advertising plays in the promotional plan including: Search Engine Optimization (SEO), Pay-Per-Click and online display advertising 9.6 Describe the trends in the changing landscape of social media MKT-6113 - Applications of Mktg Concepts, Page 3/7 © 2021 Lambton College

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9.7 Identify the key social media platforms and how they can be leveraged in the promotional plan 9.8 Prepare an advertising plan that will best reach the product’s target market and align with organizational objectives 10. Utilize an environmental scan to identify opportunities and threats in the development of a firm’s marketing plan 10.1 Describe how environmental scanning provides information about political, economic, social, technological, legal/regulatory, and natural forces impacting a company's marketing plan 10.2 Describe the elements of an environmental scan and summarize the trends affecting each area 10.3 Describe the different forms of competition that exist in the market 10.4 Perform an environmental scan to identify threats and/or opportunities in the market for a chosen product or service 11. Critically evaluate case studies, identifying and analyzing problems, and making recommendations for practical implementation 11.1 Present and defend recommended marketing strategies in both written and oral form 11.2 Develop the critical thinking skills necessary to determine the implications of a wide variety of marketing scenarios 11.3 Communicate effectively, individually and in teams, in oral presentation and written forms using the concepts and terminology of the marketing discipline Relationship to Essential Employability Skills This course contributes to your program by helping you achieve the following Essential Employability Skills: EES 1.1 Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfills the purpose and meets the needs of the audience. (T, A,) EES 1.2 Respond to written, spoken or visual messages in a manner that ensures effective communication. (T, A,) EES 2.3 Execute mathematical operations accurately. (T, A,) EES 3.4 Apply a systematic approach to solve problems. (T, A,) EES 3.5 Use a variety of thinking skills to anticipate and solve problems. (T, A,) EES 4.6 Locate, select, organize and document information using appropriate technology and information systems. (T, A,) EES 4.7 Analyze, evaluate and apply relevant information from a variety of sources. (T, A,) EES 5.8 Show respect for diverse opinions, values, belief systems and contributions of others. (T, A,) EES 5.9 Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals. (T, A,) EES 6.10 Manage the use of time and other resources to complete projects. (T, A,) EES 6.11 Take responsibility for one's own actions, decisions and consequences. (T, A,) Relationship to Vocational Learning Outcomes MKT-6113 - Applications of Mktg Concepts, Page 4/7 © 2021 Lambton College

This course provides the opportunity for you to achieve the following Program Vocational Learning Outcomes (VLO) which will be taught and evaluated at an taught (T), assessed (A) or culminating peformance (CP) level: BMHR - Business Management - Human Resources VLO 1 Analyze best practices of accounting, finance, marketing and economics into relevant aspects of Human Resources (HR) management in order to deliver effective and efficient HR programs, practices and services. (T, A) VLO 4 Utilize effective interpersonal, oral and written communications in all aspects of work to enhance the delivery and implementation of HR programs and services. (T, A) Learning Resources Required: Modern Marketing Principles, Mimic Marketing Principles & Video Case Studies- Bundle. Stukent: Idaho NOTE: It is important for students to recognize that the courseware package is a required resource in this course. The marketing simulation and quizzes are graded directly in the online platform, and the remaining resources including videos, assignments, and case study tools are accessed through the platform. Failure to purchase will significantly impede a student’s ability to pass the course and may result in copyright infringement. Supplemental: Additional resources will be provided on D2L including guidelines for using the case study approach, articles on best practices for working in teams, and resources related to content learned in class. Students are responsible for checking D2L regularly and staying up to date with assigned readings and pre-case study work. Student Evaluation Knowledge Checks 15% 13 quizzes- equally weighted • In-Class Assignments 15% 6 at 2.5% each • Group Case Study Assignments 50% 5 cases equally weighted @ 10% • Marketing Simulation 20% Individually assessed • Grade Scheme The round off mathematical principle will be used. Percentages are converted to letter grades and grade points as follows: Mark (%) Grade Grade Point Mark (%) Grade Grade Point MKT-6113 - Applications of Mktg Concepts, Page 5/7 © 2021 Lambton College

94-100 A+ 4.0 67-69 C+ 2.3 87-93 A 3.7 63-66 C 2.0 80-86 A- 3.5 60-62 C- 1.7 77-79 B+ 3.2 50-59 D 1.0 73-76 B 3.0 0-49 F 0.0 70-72 B- 2.7 Prior Learning Assessment and Recognition Students who wish to apply for prior learning assessment and recognition (PLAR) need to demonstrate competency at a post-secondary level in all of the course learning requirements outlined above. Evidence of learning achievement for PLAR candidates includes: Challenge Exam • Project/Assignment • Course Related Information This course employs a flipped-classroom approach to learning. Students will be required to review assigned readings and cases prior to class and be prepared to discuss them in class. Two hours of class each week will be dedicated to class discussions, individual and group exercises, case analysis, and various other tools to reinforce marketing concepts. The remaining hour each week will be dedicated to case study analysis in groups. Students are expected to come prepared to discuss cases and actively participate in the discussion. Failure to participate will result in marks deducted from your submissions. Students who are absent during the case study class may also have grades deducted unless there is suitable justification for the absence and it is approved by the instructor in advance. Plagiarism: Plagiarism is a serious academic offence subject to disciplinary action as described in the Lambton College policy Students’ Rights and Responsibilities: Cheating Policy. Plagiarism means representing the work of others as one’s own and is an act of academic dishonesty. Plagiarism includes: Submitting as one’s own work material which was wholly or in part written or produced by someone else • Failing to give proper credit for information retrieved from print and electronic sources • Presenting the ideas of others as if the ideas were new and original • Downloading material from the Internet and presenting this information without giving proper credit • To avoid plagiarism, learn how to incorporate material appropriately in your writing and provide proper documentation. College Related Information Academic Integrity Lambton College is committed to high ethical standards in all academic activities within the College, including research, reporting and learning assessment (e.g. tests, lab reports, essays). The cornerstone of academic integrity and professional reputation is principled conduct. All scholastic and academic activity must be free of all forms of academic dishonesty, including copying, plagiarism and cheating. MKT-6113 - Applications of Mktg Concepts, Page 6/7 © 2021 Lambton College

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Lambton College will not tolerate any academic dishonesty, a position reflected in Lambton College policies. Students should be familiar with the Students Rights and Responsibilities Policy, located at lambtoncollege.ca. The policy states details concerning academic dishonesty and the penalties for dishonesty and unethical conduct. Questions regarding this policy, or requests for additional clarification, should be directed to the Lambton College Student Success Department. Students with Disabilities If you are a student with a disability please identify your needs to the professor and/or the Accessibility Centre so that support services can be arranged for you. You can do this by making an appointment at the Accessibility Centre or by arranging a personal interview with the professor to discuss your needs. Student Rights and Responsibility Policy Acceptable behaviour in class is established by the instructor and is expected of all students. Any form of misbehaviour, harassment or violence will not be tolerated. Action will be taken as outlined in Lambton College policy. Date of Withdrawal without Academic Penalty Please consult the Academic Regulations and Registrar's published dates. Waiver of Responsibility Every attempt has been made to ensure the accuracy of this information as of the date of publication. The content may be modified, without notice, as deemed appropriate by the College. Students should note policies may differ depending on the location of course offering. Please refer to campus location specific policies: LAMBTON COLLEGE POLICIES – applicable to all Lambton College students. Student Rights & Responsibilities & Discipline policy (2000-5-1) • Test & Exam Writing Protocol (2000-1-6) • Evaluation of Students (2000-1-3) • (https://www.lambtoncollege.ca/custom/Pages/Policies/Policies.aspx) • CESTAR COLLEGE: https://www.lambtoncollege.ca/Programs/International/Lambton_in_Toronto/Student_Policies/ • QUEENS COLLEGE: https://www.lambtoncollege.ca/Programs/International/Lambton_in_Mississauga/Student_Policies/ • Note: It is the student’s responsibility to retain course outlines for possible future use to support applications for transfer of credit to other educational institutions. MKT-6113 - Applications of Mktg Concepts, Page 7/7 © 2021 Lambton College

MKT6113- Course Outline- 2021-2022

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