Principles of Marketing

Purpose of Course  showclose

In this course, you will learn about the marketing process and examine the range of marketing decisions that an organization must make in order to sell its products and services. You will also learn how to think like a marketer, discovering that the focus of marketing has always been on the consumer. You will begin to ask, “Who is the consumer of goods and services?” What does the consumer need? What does the consumer want? Marketing is an understanding of how to communicate with the consumer, and is characterized by four activities:

  • Creating products and services that serve consumers
  • Communicating a clear value proposition
  • Delivering products and services in a way that optimizes value
  • Exchanging, or trading, value for those offerings

Many people incorrectly believe that marketing and advertising are one in the same. In reality, advertising is just one of many tools used in marketing, which is the process by which firms determine which products to offer, how to price those products, and to whom they should be made available. We will also explore various ways in which marketing departments and independent agencies answer these questions – whether through research, analysis, or even trial-and-error. Once a company identifies its customer and product, marketers must then determine the best way to capture the customer’s attention. Capturing the customer’s attention may entail undercutting competitors on price, aggressively marketing a product with promotions and advertising (as with “As Seen on TV” ads), or specifically targeting ideal customers. The strategy a marketing firm chooses for a particular product is vital to the success of the product. The idea that “great products sell themselves” is simply not true. By the end of this course, you will be familiar with the art and science of marketing a product.

This course provides students the opportunity to earn actual college credit. It has been reviewed and recommended for 3 credit hours by The National College Credit Recommendation Service (NCCRS). While credit is not guaranteed at all schools, we have partnered with a number of schools who have expressed their willingness to accept transfer of credits earned through Saylor. You can read more about our NCCRS program here.

National College Credit Recommendation Service

Course Information  showclose

Welcome to BUS203: Principles of Marketing. General information about this course and its requirements can be found below.
 
Course Designers: Dionne Mahaffey, Tamara Gillis, and Steven Van Hook
 
Primary Resources: This course is composed of a range of free, online materials. However, the course makes primary use of the following materials:
Requirements for Completion: In order to successfully complete this course, you will need to work through each unit and all of its assigned materials. Pay special attention to Unit 1 and Unit 2 as these lay the groundwork for understanding the more advanced, exploratory material presented in the later units. You will also need to participate in the discussion topics at the end of each unit by posting in the course forums to fulfill the requirements for the course.
 
Note that you will only receive an official grade on your final exam. In order to pass this course, you will need to earn a 70% or higher on the final exam. Your score will be tabulated as soon as the exam is completed. If you do not pass the exam, you may take it again.
 
Time Commitment: This course should take you a total of 128 hours to complete. Each unit includes a time advisory that lists the amount of time you are expected to spend on each subunit. These advisories should help you plan your time accordingly. It might be useful to take a look at these time advisories to determine how much time you have over the next few weeks to complete each unit, and then to set goals for yourself.
 
Tips/Suggestions: Please take comprehensive notes as you work through the course materials. These notes will serve as a useful review as you study for your final exam. 

 
A version of this course is also available in iTunes U.
Preview the course in your browser or view all our iTunes U courses.  

Learning Outcomes  showclose

Upon successful completion of this course, you will be able to:
  • define marketing and explain its function in society;
  • explain the difference between marketing, advertising, and sales;
  • describe marketing concepts and terminology;
  • describe the process of market research;
  • describe the concept of pricing;
  • explain product strategy, including the concepts of product life cycle, positioning, and pricing;
  • define competition and explain competitive analysis;
  • analyze the process of distribution and explain marketing channels;
  • identify the key elements of product promotions;
  • explain how to develop a marketing plan and apply the principles of marketing in creating a marketing plan; and
  • describe employment and career development opportunities in marketing.

Course Requirements  showclose

In order to take this course, you must:

√    have access to a computer;

√    have continuous broadband Internet access;

√    have the ability/permission to install plug-ins or software (e.g. Adobe Reader or Flash);

√    have the ability to download and save files and documents to a computer;

√    have the ability to open Microsoft files and documents (.doc, .ppt, .xls, etc.);

√    have competency in the English language; and

√    have read the Saylor Student Handbook.

Preliminary Information

  • Preliminary Information

    Principles of Marketing

    Link: Principles of Marketing (PDF)

    You will be prompted to read sections of this book throughout the course. You may choose to download the full text now and skip to the appropriate section as prompted by the instructions in the resource boxes below, or you may download the specific sections of the text as assigned to you as you progress through each resource box.

    Terms of Use: This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work’s original creator or licensee.

Unit Outline show close


Expand All Resources Collapse All Resources
  • Unit 1: Marketing Definition and Principles  

    We will begin with the basics of marketing. In this unit, we will define a number of important terms and distinguish between marketing, advertising, and sales. Advertising and sales are two aspects of marketing, but they come into play much later in the marketing strategy process. Companies focus on sales and advertising only after all other factors of marketing have been determined. This unit will teach you that marketing departments focus on a set of core principles, most of which are summarized by the 4 Ps (product, price, place, and promotion).

    The 4 Ps are also known as the marketing mix. Marketers use the marketing mix to determine the proper strategy for a product. For example, if an inventor comes to you with a new touchscreen technology, how do you sell it? You might first find a product in which the touchscreen would be useful, such as a phone, then determine a target price to maximize sales, identify the best place to sell it (e.g. online or in a store), and finally decide how to promote it. Applying the 4 Ps in this situation could give you the next iPhone.

    Unit 1 Time Advisory   show close
    Unit 1 Learning Outcomes   show close
  • 1.1 Marketing Basics  
    • Reading: Principles of Marketing: “Chapter 1: What Is Marketing?”

      Link: Principles of Marketing“Chapter 1: What Is Marketing? (PDF)

      Instructions: Read this chapter, which defines and discusses the four components of marketing, identifies the various institutions and entities that engage in marketing activities, and emphasizes the importance of marketing in society. Please pay extra attention to the fundamental 4 Ps of marketing, and the important concept of value. This chapter also outlines the marketing plan and introduces future chapters as they relate to the marketing plan structure.

      Reading this chapter, taking notes, and answering the discussion questions should take approximately 2 hours.

      Terms of Use: This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work’s original creator or licensee.

  • 1.2 Product  
  • 1.3 Price  
    • Reading: Principles of Marketing: “Chapter 15: Price, the Only Revenue Generator”

      Link: Principles of Marketing: “Chapter 15: Price, the Only Revenue Generator” (PDF)

      Instructions: Read this chapter for a thorough treatment of the important concept of price, which the authors note is the only means a company has of generating revenue. This chapter discusses the process companies must go through to effectively price their offerings, including identifying pricing objectives, accounting for the factors that affect pricing decisions, and implementing a pricing strategy. Pay attention to concepts of pricing basics, value pricing, target pricing, price sensitivity and elasticity, dynamic pricing, rack pricing, and loss leaders.

      Reading this text and taking notes and taking notes should take approximately 2 hours.

      Terms of Use: This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work’s original creator or licensee.

  • 1.4 Place  
  • 1.5 Promotion Tools and Tactics  
    • Lecture: Carnegie Mellon University: Mark Juliano’s Entrepreneurship & Business Course: “Class 10b: Marketing”

      Link: Carnegie Mellon University: Mark Juliano’s Entrepreneurship & Business Course: “Class 10b: Marketing” (iTunes U)

      Also available in:
      Mp3

      Instructions: Scroll down the webpage above to the lecture titled “Class 10b: Marketing,” and click on the “View in iTunes” hyperlink to download the lecture. Please listen to this lecture, in which Mark Juliano provides more marketing information related to public relations, trade shows, events, seminar selling, etc. Promotion is an all-important aspect of marketing, and we will revisit this topic later in the course.

      Listening to this lecture and taking notes should take approximately 45 minutes.

      Terms of Use: This resource is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License. It is attributed to Mark Juliano.

    • Optional Mobile App: Docstoc Inc.’s Marketing, Branding, and PR Secrets: “Chapter 1 - Overview”

      Link: Docstoc Inc.’s Marketing, Branding, and PR Secrets: “Chapter 1 - Overview” (iOS App)

      Instructions: If choosing to use this app, you will first need to download it to your iOS device. Note that this app is not available on any other platforms, which is why it is optional. Once downloaded, open the app and watch all the videos in “Chapter 1 - Overview.” You may also find the “Resources You Should Look At” within Chapter 1 to be helpful as well. Pay extra attention to the useful videos on branding, and the reading on how to keep marketing costs down.

      Watching and reading these resources and taking notes should take you approximately 1 hour.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

  • 1.6 Marketing vs. Advertising  
  • 1.7 Marketing Ethics  
    • Reading: The Saylor Foundation: Steven Van Hook’s “Business and Marketing Ethics”

      Link: The Saylor Foundation: Steven Van Hook’s “Business and Marketing Ethics” (PDF)
       
      Instructions: Please click on the link above and read the entire article on business and marketing ethics in the global marketplace. Pay a visit to the Center for the Study of Ethics' webpage, which is linked in the reading, and participate in the discussion topics for this subunit.
       
      Reading this text, visiting the ethics links, and participating in the discussion board should take approximately 3 hours and 30 minutes.

      Terms of Use: This resource is licensed under a Creative Commons Attribution 3.0 License. It is attributed to The Saylor Foundation.

    • Assignment: The Saylor Foundation’s “BUS203 Discussion Forum Assignment 1”

      Link: The Saylor Foundation’s “BUS203 Discussion Forum Assignment 1”

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post and respond to other students’ posts as well.

      • Think of a company or social campaign that has caught your attention and assess it using the 4 Ps of marketing (product, place, price, and promotion).
         
      • Pick a product, service, or issue for which you might develop a marketing campaign. What are the first issues you need to address according to the fundamental rules of marketing?
         
      • Beyond the topics covered in this unit, what would you suggest are other business ethics issues marketers should keep in mind in the 21st century marketplace as they launch a campaign?
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 1 Assessment  
  • Unit 2: Segmenting, Targeting, and Positioning  

    Philip Kotler, the grand dean of marketing textbooks, has suggested that if marketers can nail their target and position, all other aspects of a marketing campaign will fall into place. Target and position define whom we are trying to reach with our marketing campaign, and what message (or position) we will use to connect. The concepts of targeting and positioning are so critical to marketing success that we now dedicate an entire unit to them.

    So let’s now consider the concept of segmenting, targeting, and positioning (STP), known as the strategic marketing formula that helps marketers identify and segment their audience, target their market, and posture their products to cultivate their desired brand position.

    Unit 2 Time Advisory   show close
    Unit 2 Learning Outcomes   show close
  • 2.1 Strategic Planning  
    • Reading: Principles of Marketing: “Chapter 2: Strategic Planning”

      Link: Principles of Marketing“Chapter 2: Strategic Planning” (PDF)

      Instructions: Read this chapter, which examines the strategic planning process companies go through in order to develop, price, promote, and sell their products and services. The first section explains the value proposition and will help you to understand why a company may develop different value propositions for different target markets. After reading the chapter, please complete the discussion questions at the end of the chapter.

      Reading this chapter, taking notes, and responding to the discussion questions should take approximately 2 hours and 30 minutes.

      Terms of Use: The text was adapted by The Saylor Foundation under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work's original creator or licensee. 

  • 2.2 STP Strategy  
  • 2.2.1 Segmentation  
  • 2.2.2 Targeting  
  • 2.2.3 Positioning  
  • 2.3 Publics  
    • Web Media: YouTube: Steven Van Hook’s “Publics & Demographics”

      Link: YouTube: Steven Van Hook’s “Publics & Demographics” (YouTube)

      Instructions: Watch this 6-minute video about publics and demographics. Among the most important aspects of a communication campaign is forming a clear picture of the target audience. This video describes key publics, demographics, and segments we should identify early in our communication planning. You may read along with the transcript here.

      Watching this video, taking notes, and reviewing the transcript should take approximately 30 minutes.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpages above.

    • Activity: The Saylor Foundation’s “BUS203: Unit 2 Discussion Questions”

      Link: The Saylor Foundation’s “BUS203: Unit 2 Discussion Questions” (HTML)

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post, and respond to other students’ posts as well. If you haven’t done so already, you will need to create a free account at the link above to participate in the discussions.

      • Marketing expert Philip Kotler says once the target and position are identified, all other aspects of a marketing campaign fall into place. What do you think he means by that?
         
      • Pick a marketing campaign that has caught your attention. Whom are the marketers targeting? What is their position?
         
      • Think of a product, service, or issue where you might launch a marketing campaign. Whom will you target? What will your position be?
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 2 Assessment  
  • Unit 3: Customers and Marketing Research  

    Marketing is all about the customer. But who is the customer? If you are a car manufacturer, you have multiple types of customers. You might have governments and rental agencies that wish to buy fleet vehicles. We call these customers business-to-business (B2B). You would also have dealerships to whom you want to sell your cars; this is also B2B. Then, there are the end users, or dealer’s customers. Though the dealer owns the car when it is sold, the manufacturer almost always plays a crucial role in the marketing of that car. Identifying your target customer can be difficult, but with the proper definitions and the right research, marketers will know their customers better than they know themselves.

    Unit 3 Time Advisory   show close
    Unit 3 Learning Outcomes   show close
  • 3.1 Business-to-Business and Business-to-Consumer  
    • Reading: University of Georgia: John Burnett’s Core Concepts of Marketing: “Organizational Buyer Behavior”

      Link: University of Georgia: John Burnett’s Core Concepts of Marketing: “Organizational Buyer Behavior” (PDF)

      Instructions: Please click on the link above and read the section titled “Organizational Buyer Behavior” (pages 91 - 98). The decision-making process that organizations follow to determine their needs for products and services is known as organization buying. After reading this material, please consider the following review questions: What buying stages do buying centers typically go through? Why should business buyers collaborate with the companies from which they buy their products? Explain how a straight re-buy, new buy, and modified re-buy differ from one another.

      Reading, taking notes, and answering these questions should take approximately 1 hour.

      Terms of Use: This resource is licensed under a Creative Commons Attribution 3.0 License. It is attributed to John Burnett.

    • Reading: Principles of Marketing: “Chapter 4: Business Buying Behavior”

      Link: Principles of Marketing: “Chapter 4: Business Buying Behavior” (PDF)

      Instructions: Please click on the link above and read the entire chapter, which provides an overview of business-to-business buying behavior. This chapter discusses the various ways in which B2B markets differ from B2C markets, types of B2B buyers, buying centers, and stages of the B2B buying process. The chapter wraps up with a discussion of international B2B markets, e-commerce, and ethics in the B2B market. From this reading, you will learn what a buying center is and will be able to name the members of buying centers and describe their roles. Pay special attention to the concepts of the decision-making unit (DMU) and the purchase process.

      Reading and taking notes should take approximately 2 hours.

      Terms of Use: The text was adapted by The Saylor Foundation under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work's original creator or licensee. 

  • 3.2 Consumer Behavior  
  • 3.3 Marketing Research  
  • Unit 3 Assessment  
  • Unit 4: Life Cycles, Offers, Supply Chains, and Pricing  

    Products do not last forever. New products typically cost more than existing products due to the high costs associated with production and development- this is best illustrated by technology products. The fact that initial customers will be early adopters of a new product affects the marketing strategy. As the product grows and matures, the strategy again changes; over time, marketers lower the price. When a product is in the declining stage, most competitors leave the market and prices are very low. At each stage, the marketing of the product is different.

    When a new product is developed and offered, a company must consider what will develop the product's value to the customer, whether the customer is a consumer or another business. Marketers must always ask where a new product will fit in their current lineup and how the new product will serve as an extension of an existing brand. Take the car manufacturer BMW. They make sporty luxury vehicles aimed at the upper-middle and wealthy classes.


    Developing an inexpensive and lower-quality vehicle to compete with cars in another class may dilute the brand and hurt sales. However, if BMW were to market the vehicle under a different brand, they could diversify their product portfolio, avoid the risk of diluting the BMW brand, and be able to reach new customers all at the same time. Some firms go to great lengths to disassociate their brands from one another, while others embrace a family of brands model. Appropriate decisions vary by industry and strategy.

    Equally important in delivering value to the customer through an offering is how a company sources the goods and services necessary for production and delivers the end product for customers to purchase - otherwise known as the supply chain.

    Finally in this unit, we will examine issues in pricing, including the costs of delivering a product, customer and societal perspectives, the impacts of competition, and ultimately the revenues a company may generate.

    Unit 4 Time Advisory   show close
    Unit 4 Learning Outcomes   show close
  • 4.1 Product Life Cycle  
  • 4.2 The Creation of an Offering  
  • 4.3 Creating Customer Value through Supply Chains  
  • 4.4 Pricing  
    • Reading: University of Georgia: John Burnett’s Core Concepts of Marketing: “Chapter 9: Pricing the Product”

      Link: University of Georgia: John Burnett’s Core Concepts of Marketing: “Chapter 9: Pricing the Product” (PDF)

      Instructions: Read Chapter 9. It examines essential considerations in setting a price for products and services. Please pay special attention to topics of customer and societal perspectives on pricing, developing a pricing strategy, psychological aspects of pricing, and alternative approaches to determining price.

      Reading this chapter and taking notes should take approximately 2 hours.

      Terms of Use: This resource is under a Creative Commons Attribution 3.0 License. It is attributed to John Burnett.

    • Activity: The Saylor Foundation’s “BUS203: Unit 4 Discussion Questions”

      Link: The Saylor Foundation’s “BUS203: Unit 4 Discussion Questions” (HTML)

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post and respond to other students’ posts as well. If you haven’t done so already, you will need to create a free account at the link above to participate in the discussions.

      • As we consider how a life cycle might apply to products and services, how might it also apply from a perspective of consumer interest and purchasing patterns?
         
      • Pick a release of any company’s new product, and describe it in terms of its target audience, its place within the existing company brand, supply chain issues that might need to be considered, and how a price may have been set.
         
      • Think of a product or service for which you might launch your own marketing campaign. Describe it in terms of its target audience, its place within any existing brand, supply chain issues, and pricing decisions that might need to be considered.
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 4 Assessment  
  • Unit 5: Distribution and Promotion  

    Once marketers have identified the right product and determined appropriate pricing, they must decide how to effectively raise awareness and distribute the product. This unit will focus on these decisions. You will learn that distribution is a complex process that involves taking a product through the manufacturing process, shipping to warehouses, distributing to sellers and customers, and taking returned products. Marketers must work with supply chain managers to determine the best method to route products. If marketers expect that sales will be heavier in the northeast than in the west, additional resources will need to be allocated there to meet demand. There are a number of strategies for moving a product through various distribution channels. These vary based on anticipated demand, actual demand, and the competition. Marketers must have a proactive strategy: They cannot sit on inventory and wait for orders because inventory storage is expensive and a lack of sales is disruptive.

    The final and arguably most vital aspect of marketing is the actual promotion of the product. This can take for the form of giveaways, competitions, advertising, sales, and anything else a creative manager can think of. Marketers must take a number of aspects into consideration, however. 

    If you employ a sales staff to promote the product, how do you compensate them? If you pay a commission, how much commission will be paid per unit? Will the sales staff be given discretion on price, or do you want to send a uniform message that the price is locked in? If a new company has limited funds available for advertising campaigns, might they use public relations tactics to gain free media coverage?

    These are just a few considerations that marketers must consider. This final unit will provide you with the tools you need to make the best possible promotion decisions.

    Unit 5 Time Advisory   show close
    Unit 5 Learning Outcomes   show close
  • 5.1 Distribution Channel Strategies  
    • Reading: University of Georgia: John Burnett’s Core Concepts of Marketing: “Chapter 10: Channel Concepts: Distributing the Product”

      Link: University of Georgia: John Burnett’s Core Concepts of Marketing: “Chapter 10: Channel Concepts: Distributing the Product” (PDF)

      Instructions: Read Chapter 10. Note that the push and pull strategies are based on how the customer perceives a product. For example, if the company really wants to sell a product, it may aggressively push it through the distribution channel and into stores with pricing incentives. This strategy is often seen with products for which the customer does not yet have a perceived need or desire. A pull strategy is based on satisfying a customer’s want or need. It is almost as if the customer is pulling the product through the distribution channel. Channel membership is a distribution strategy based on the type of product in question. If quality and reliability is important, marketers will use exclusive distributions, i.e. authorized resellers. An intensive distribution is the opposite; a marketer will allow just about anyone to carry a product. Convenience foods are a good example: just about every checkout line in a store now carries snacks and sodas.

      Reading this chapter and taking notes should take approximately 2 hours.

      Terms of Use: This resource is under a Creative Commons Attribution 3.0 License. It is attributed to John Burnett.

    • Reading: Principles of Marketing: “Chapter 8: Using Marketing Channels to Create Value for Customers”

      Link: Principles of Marketing: “Chapter 8: Using Marketing Channels to Create Value for Customers” (PDF)

      Instructions: Read this chapter, which explains that a direct marketing channel consists of just two parties: the producer and the consumer. By contrast, a channel that includes one or more intermediaries (wholesalers, distributors, brokers, or agents) is an indirect channel. Firms often utilize multiple channels to reach more customers and increase their effectiveness. Some companies find ways to increase their sales by forming strategic channel alliances with one another. Other companies look for ways to cut out the middlemen from the channel, a process known as disintermediation. Direct foreign investment, joint ventures, exporting, franchising, and licensing are some of the channels by which firms attempt to enter foreign markets.

      Reading this chapter and taking notes should take approximately 2 hours.

      Terms of Use: The text was adapted by The Saylor Foundation under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work's original creator or licensee. 

  • 5.2 Promotion Tools and Tactics  

    Promotion gets to the heart of a marketing campaign. Once you have developed your product or service, identified a target audience, and constructed a selling proposition, now comes the time to let the world know about it. This may be accomplished through a number of means ranging from paid advertising to public relations outreach to direct sales. This subunit provides useful detail on this most critical “P” of the marketing mix.

  • 5.2.1 Advertising  
  • 5.2.2 Sales Promotion  
  • 5.2.3 Sales Force  
  • 5.2.4 Public Relations  
    • Reading: Principles of Marketing: “Chapter 12: Public Relations and Sales Promotions”

      Link: Principles of Marketing“Chapter 12: Public Relations and Sales Promotions” (PDF)

      Instructions: Read this chapter. Answer the review questions at the end of each section. The material explains the various public relations (PR) concepts and tools used by organizations. Public relations are the activities organizations engage in to create a positive image for a company, product or service, or a person. Press releases, sponsorships, and product placements are three commonly used PR tools. Press releases are designed to generate publicity, but there is no guarantee the media will use them in the stories they write. Sponsorships are designed to increase brand awareness, improve corporate image, and reach target markets. Product placements are designed to generate exposure, brand awareness, and interest.

      Reading this chapter and answering the review questions should take approximately 2 hours.

      Terms of Use: The text was adapted by The Saylor Foundation under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work's original creator or licensee. 

    • Reading: Steven Van Hook’s Media and Public Relations: A Primer

      Link: Steven R. Van Hook’s Media and Public Relations: A Primer (HTML)

      Instructions: Visit this interactive resource. You should briefly review each of the eight primer modules and make a note of any resources or templates you find especially useful. These resources and templates may be useful at a future date as you undertake a public relations campaign. We will refer back to this primer elsewhere in the course for specific examples supporting subunit topics ahead, but for now it provides a useful overview of the public relations craft and some tools at its disposal. This primer was prepared to help government and business leaders in the former Soviet Union make the transition from a centralized system to a market system, where they were expected to interact with a freer and more independent media. The concept of public and media relationswas new to many of these leaders, so this primer provides a fundamental overview of the basic ideas and tools of PR.

      Exploring this resource should take approximately 2 hours.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

    • Reading: All About Public Relations: Steve Turner’s “How to Choose Between PR & Advertising”

      Link: All About Public Relations: Steve Turner’s “How to Choose Between PR & Advertising” (HTML)

      Instructions: Read this article by a marketing expert who suggests ways that public relations can help advance marketing campaigns.

      Reading this article and taking notes should take approximately 30 minutes.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

    • Optional Mobile App: Docstoc Inc.’s Marketing, Branding, and PR Secrets: “Chapter 5 - PR”

      Link: Docstoc Inc.’s Marketing, Branding, and PR Secrets: “Chapter 5 - PR” (iOS App)

      Instructions: Open the app and watch all the videos in “Chapter 5 - PR.” You may also find the “Resources You Should Look At” within Chapter 5 to be helpful as well. The videos describe public relations tactics to earn free media for your business, and the resource materials provide sample templates and guidelines for preparing media releases and press kits.

      Watching and reading these resources and taking notes should take approximately 1 hour.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

    • Activity: The Saylor Foundation’s “BUS203: Unit 5 Discussion Questions”

      Link: The Saylor Foundation’s “BUS203: Unit 5 Discussion Questions” (HTML)

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post and respond to other students’ posts as well. If you haven’t done so already, you will need to create a free account at the link above to participate in the discussions.

      • Observe an advertising campaign for a new product or service. Did you notice the same product or service advertised in different media? Who was the target audience? What was the marketing message? Why did the marketers select the particular medium (or media)?
         
      • Think of a product or service you might promote with your own marketing plan. Who will be your target audience? What media will you select and why? What might your marketing message be?
         
      • Find an example of a marketing campaign that may have relied more on public relations and free media placements than on a paid advertising campaign. Assess it for its strategies and effectiveness.
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 5 Assessment  
  • Unit 6: Launching a Marketing Campaign  

    Marketing is not just a matter of internal strategies and customer analysis. There are factors outside of the company that must be taken into consideration with any marketing strategy. Though marketers can control how they might respond to customer needs and expectations, they face the often-unpredictable reactions of customers to them. Maintaining customer satisfaction is essential to sustainable success. Marketers need to be sensitive to the regulatory and ethical constraints that may be placed upon them by a wide range of domestic and international industry standards and the expectations of society.

    Companies must also face social forces that challenge their success. For example, marketers must be aware of the social and cultural aspects of each region in which they choose to market a product. Even a worldwide brand such as Coca Cola must adjust its marketing strategy for every region it enters. An awareness of the cultural factors affecting a marketing strategy can make the marketing message much more effective. Quite often marketers will address social issues especially relevant to lives of their audiences or the larger society with social marketing campaigns.

    Finally, as a marketing campaign prepares for its launch, all the issues addressed in this and earlier units must come together in a formalized document - the comprehensive marketing plan.

    Unit 6 Time Advisory   show close
    Unit 6 Learning Outcomes   show close
  • 6.1 Satisfying the Customer  
  • 6.2 Social Marketing  
    • Web Media: YouTube: Steven Van Hook’s “Social Marketing”

      Link: YouTube: Steven R. Van Hook’s “Social Marketing” (YouTube)

      Instructions: Watch this 8-minute video on social marketing. Most of the tools for promoting commercial projects can also be applied to advancing social causes and programs. You may read along with the transcript linked here.

      Watching the video, taking notes, and reviewing the transcript should take approximately 30 minutes.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpages above.

  • 6.3 Cultural Modifications for Marketing  
    • Web Media: YouTube: Steven Van Hook’s “Transcultural Marcom”

      Link: YouTube: Steven Van Hook’s “Transcultural Marcom” (YouTube)

      Instructions: Watch this 9-minute video on international communication tactics - using themes and images that transcend cultural differences. If you publish a website, you are then positioned to reach a global audience. English may connect those in global business with a common language, but we still need to be sensitive to cultural differences. You may read along with the transcript linked here.

      Watching the video, taking notes, and reviewing the transcription should take approximately 30 minutes.

      Terms of Use: Please respect the copyright and terms of use displayed on the webpages above.

  • 6.4 The Marketing Plan  
    • Reading: Principles of Marketing: “Chapter 16: The Marketing Plan”

      Link: Principles of Marketing: “Chapter 16: The Marketing Plan” (PDF)

      Instructions: Read this chapter, which discusses marketing planning roles, the parts and functions of the marketing plan, forecasting, and the structure of a marketing plan audit. It also discusses PEST Analysis and other external factors that affect marketing decisions. Some of the material in this chapter is a review of concepts addressed in the course up to this point. Key takeaways include the steps in the forecasting process. Thus, you will be able to identify types of forecasting methods and their advantages and disadvantages as well as discuss the methods used to improve the accuracy of forecasts. Lastly, you will apply marketing planning processes to ongoing business settings and identify the role of the marketing audit. Please answer the discussion questions at the end of the chapter.

      Reading this chapter, taking notes, and answering the discussion questions should take approximately 2 hours.

      Terms of Use: The text was adapted by The Saylor Foundation under the Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution, as requested by the work's original creator or licensee. 

    • Lecture: Carnegie Mellon University: Mark Juliano’s Entrepreneurship & Business Course: “Class 21: Marketing Budgets”

      Link: Carnegie Mellon University: Mark Juliano’s Entrepreneurship & Business Course: “Class 21: Marketing Budgets” (iTunes U)

      Also available in:
      Mp3

      Instructions: Please click on the link above and scroll down to the lecture titled “Class 21: Marketing Budgets.” Please click on the “View in iTunes” hyperlink to open the lecture and listen to the entire lecture. Mark Juliano discusses where to spend your marketing dollars and the costs associated with different types of marketing vehicles. This information is a very important component of the marketing plan. Without a budget you cannot implement the marketing plan. Many external factors will affect the marketing budget.

      Listening to this lecture and taking notes should take approximately 45 minutes.

      Terms of Use: This resource is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License. It is attributed to Mark Juliano.

  • 6.5 Marketing Plan Project  
  • Unit 6 Discussion  
    • Activity: The Saylor Foundation’s “BUS203: Unit 6 Discussion Questions”

      Link: The Saylor Foundation’s “BUS203: Unit 6 Discussion Questions” (HTML)

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post and respond to other students’ posts as well. If you haven’t done so already, you will need to create a free account at the link above to participate in the discussions.

      • What key components do you believe are most essential to maintaining customer satisfaction? How might you address those in your own marketing efforts?
         
      • Find an example of a social marketing campaign you admire. Who was the marketers’ target audience? What media did they select to connect with their audience and why? What message did they convey?
         
      • Marketing plans will naturally be modified according to the type of service or product marketed, company structure, particularities of the target audience, etc. Consider a marketing campaign you might launch. What would be the primary components of your own marketing plan?
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 6 Assessment  
  • Unit 7: Professional Development  

    Well-honed marketing and communication skills have a place in just about every human enterprise from international commerce to campaigns for public office to solving social ills. The US Bureau of Labor Statistics predicts the employment opportunities for marketing and related professions will grow in the years ahead. Among the issues to consider for those contemplating a career in marketing are the skillsets required, the working conditions, the potential for career advancement, and salary levels. This unit will introduce you to available employment resources that aid marketing aspirants in finding a first job and advancing through a professional career.

    Unit 7 Time Advisory   show close
    Unit 7 Learning Outcomes   show close
  • 7.1 The Marketing Workplace  
  • 7.2 Resources for Career Development  
  • 7.3 Networks for Marketers  
    • Reading: The Saylor Foundation: Steven Van Hook’s “Professional Social Networks”

      Link: The Saylor Foundation: Steven Van Hook’s “Professional Social Networks” (PDF)
       
      Instructions: Read this article, which considers resources for professional development, career networking, and personal development. Please explore the links to resources embedded in this text.
       
      Reading and exploring linked resources should take approximately 3 hours and 30 minutes.

      Terms of Use: This resource is licensed under a Creative Commons Attribution 3.0 License. It is attributed to The Saylor Foundation.

    • Activity: The Saylor Foundation’s “BUS203: Unit 7 Discussion Questions”

      Link: The Saylor Foundation’s “BUS203: Unit 7 Discussion Questions” (HTML)

      Instructions: After reviewing the unit materials, please click on the link above and post and respond to the following topics on the course discussion board. Feel free to start your own post, and respond to other students’ posts as well. If you haven’t done so already, you will need to create a free account at the link above to participate in the discussions.

      • Where in the world would you most like to work, and with what kinds of marketing projects would you like to be involved?
         
      • What useful employment resources and job leads did you find in your research for this unit?
         
      • Based on your studies in this unit, what words of advice would you offer to someone just starting out in a marketing career?
         
      • What social networks do you currently participate in and why? What benefits do these social networks offer?
         
      • How might networking help improve your own career goals?
      Posting and responding to the discussion questions in the forums should take approximately 5 hours.

  • Unit 7 Assessment  
  • Final Exam  
  • NCCRS Credit Recommended Exam  
    • Optional Final Exam: The Saylor Foundation's “BUS203 Final Exam”

      Link: The Saylor Foundation's "BUS203 Final Exam" (HTML)

      Instructions: The above linked exam has been specially created as part of our National College Credit Recommendation Service (NCCRS) review program.  Successfully passing this exam will make students eligible to receive a transcript with 3 hours of recommended college credit.

      Please note that because this exam has the possibility to be a credit-bearing exam, it must be administered in a proctored environment, and is therefore password protected.  Further information about Saylor's NCCRS program and the options and requirements for proctoring, can be found here.  Please make sure to read this page carefully before attempting this exam.

      If you choose to take this exam, you may want to first take the regular, certificate-bearing BUS203 Final Exam as a practice test, which you can find above.