Poster
Edith Cowan University
Faculty of Business and Law
Unit Plan
Unit Code: MKT1600
Unit Title: Marketing principles & practices
Semester: Two
Year: 2014
Prepared by: Dr Stephen Fanning
Version: July 2014
Faculty of Business and Law | Telephone: 134328 | Calls outside Australia (61 8) 6304 0000
Email enquiries@ecu.edu.au | Web: www.business.ecu.edu.au
School of Business
MKT1600: Marketing principles and practices
Introduction to marketing
It is generally recognised that a marketing philosophy is the most common management philosophy practised in modern economies. A marketing philosophy has three financial objectives:
1. to increase revenue,
2. to reduce the cost of doing business [as a percentage of sales], and
3. to build the long-term value of a business.
The basic premise is that by satisfying the needs of its customers an organisation is best placed to satisfy their own needs.
The starting point is an understanding of the dynamics of a marketplace and an understanding of customer value. This understanding aids market segment selection, the crafting of a compelling value proposition and a competitive advantage in the marketplace. This unit recognises that a sustainable competitive advantage is only possible through the building of longterm profitable exchange relationships with internal and external customers, channel partners and society.
For some students this unit is the first step in a marketing major and then a marketing career. The marketing major provides the skills and knowledge required for a career in customer, product, brand, and revenue management. The focus of marketing is to create value for an organisation, their customers, their partners, and society at large. Marketers research the needs of customers, bring products to market, manage channel partners, and manage customer satisfaction and loyalty.
The marketing major equips students with the skills, theory, and practical experience to audit a market, identify
Faculty of Business and Law
Unit Plan
Unit Code: MKT1600
Unit Title: Marketing principles & practices
Semester: Two
Year: 2014
Prepared by: Dr Stephen Fanning
Version: July 2014
Faculty of Business and Law | Telephone: 134328 | Calls outside Australia (61 8) 6304 0000
Email enquiries@ecu.edu.au | Web: www.business.ecu.edu.au
School of Business
MKT1600: Marketing principles and practices
Introduction to marketing
It is generally recognised that a marketing philosophy is the most common management philosophy practised in modern economies. A marketing philosophy has three financial objectives:
1. to increase revenue,
2. to reduce the cost of doing business [as a percentage of sales], and
3. to build the long-term value of a business.
The basic premise is that by satisfying the needs of its customers an organisation is best placed to satisfy their own needs.
The starting point is an understanding of the dynamics of a marketplace and an understanding of customer value. This understanding aids market segment selection, the crafting of a compelling value proposition and a competitive advantage in the marketplace. This unit recognises that a sustainable competitive advantage is only possible through the building of longterm profitable exchange relationships with internal and external customers, channel partners and society.
For some students this unit is the first step in a marketing major and then a marketing career. The marketing major provides the skills and knowledge required for a career in customer, product, brand, and revenue management. The focus of marketing is to create value for an organisation, their customers, their partners, and society at large. Marketers research the needs of customers, bring products to market, manage channel partners, and manage customer satisfaction and loyalty.
The marketing major equips students with the skills, theory, and practical experience to audit a market, identify