University of Sydney - MKTG1001: Marketing Principles

This unit examines the relationships among marketing organisations and final consumers in terms of production-distribution channels or value chains. It focuses on consumer responses to various marketing decisions (product mixes, price levels, distribution channels, promotions, etc.) made by private and public organisations to create, develop, defend, and sometimes eliminate, product markets. Emphasis is placed on identifying new ways of satisfying the needs and wants and creating value for consumers. While this unit is heavily based on theory, practical application of the concepts to 'real world' situations is also essential. Specific topics of study include: market segmentation strategies; market planning; product decisions; new product development; branding strategies; channels of distribution; promotion and advertising; pricing strategies; and customer database management.

✔ At the completion of this unit, you should be able to:

• describe and conceptualise appropriately the foundations of marketing from a marketer's point of view
• identify market opportunities through a comprehensive environmental scan
• segment the market and effectively profile target consumers
• apply strategically the marketing process in marketing an offering to a specific target audience using a set of relevant marketing strategies
• analyse effectively a marketing problem and recommend suitable actions.