Discussion : Principles Of Marketing
Aligns with Chapter Learning Objectives 1-1 and 1-5 and Course Learning Objectives CO1, CO11, and CO12
I welcome all of you to the exciting, changing, advancing world of marketing. Marketing is a passion of my mine and I hope to convey that energy and enthusiasm to each of you. I hope by the conclusion of this semester you will look at the “term” marketing in an entirely different light. Marketing is so much more than advertising. Marketing involves the four “P’s,” which are product, placement (distribution), price and promotion. Only one part of promotion is actually advertising.
At the conclusion of your reading from Chapter 1, please refer to 2-1 p14, “The Nature of Strategic Planning.” Strategic planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. The goal of strategic planning is long-run profitability and growth. Thus, strategic decisions require long-term commitments of resources.
A strategic error can threaten a firm’s survival. On the other hand, a good strategic plan can help protect and grow the firm’s resources. Read on page 14 about March of Dimes, Disney, Nvidia, and Target in the short excerpt. These company’s decisions have or will affect their future.