Outcomes

1. Use appropriate terminology to communicate with marketing specialists and others about marketing concepts.

The best outlets for fulfilling this learning outcome were the two presentations we completed regarding our practicum and our market planning assignment. In the presentations, we had to take all of the research we compiled, and narrow it down to a concise but comprehensive 15 to 20 minute presentation. After creating the presentations, we had to deliver them to the class, communicating the marketing concepts as clearly as possible. I learned how important it is to know the meanings of various marketing terms and the best ways to use them to communicate with marketing specialists.

2. Understand more clearly how marketing affects you as a consumer and how you influence marketing practices.

As a consumer, I am subjected to a multitude of different marketing messages on a daily basis. These range from marketing campaigns I am exposed to at home, such as television commercials, to marketing campaigns I am exposed to while driving, such as billboard advertisements. I also learned how my actions affect these marketing campaigns through my purchasing decisions, surveys I take online, and even pages I visit online. Marketers collect data regarding consumer behavior and purchasing decisions to create and develop targeted, successful marketing campaigns and advertisements. The steps of the market planning assignment really solidified this concept for me. I was able to see, firsthand, how marketers gather information about consumers to determine segmentation and target markets.

3. Identify and interpret changes in the environment which affects marketing activities.

The most meaningful way this learning outcome was addressed was through the analysis of the JC Penney case study. The company decided to bring in a new chief executive officer, Ron Johnson, when it experienced a decline in sales. Johnson brought a variety of new ideas to the company, but they did not appeal to customers and the company did not see success. He identified what he thought was a change in the environment, where customers were becoming dissatisfied with the promotions the company was offering. However, this was not the case. He had misinterpreted a trend in the environment. JC Penney customers still enjoyed the same discounts and promotions that made the company so successful. Noticing this failure, the company replaced Johnson with his predecessor, Myron Ullman.

4. Understand the costs and benefits of marketing on society and on those involved in the marketing process.

This learning outcome was one that took the entire semester for me to really understand. I have come to realize the benefits of marketing along with the associated costs. Through the marketing plan we created for the iPhone K, I realized that our marketing efforts would significantly benefit concerned parents who are dissatisfied with current options for children’s phones. Reaching customers who can significantly benefit from a firm’s product is one of the major benefits of marketing. It creates sales for the firm and makes it successful, which supports jobs and wealth generation for its employees. I learned about the costs of marketing primarily through the creation of this learning portfolio. I had the chance to reflect on public policy and its relation to pricing strategies, including the many deceptive practices that firms engage in. One of the costs of marketing is when consumers are negatively affected by these unethical pricing practices.

5. Understand how marketing interacts with and is interdependent with other functional areas within a company.

The market planning assignment was the best tool for me to achieve this learning outcome. Creating the plan was like being part of a marketing team for a company, so it was important to understand how the marketing department is dependent on other related areas of an organization. A marketing plan would not be possible without considering aspects of finance, sales, and other departments within a company. For example, determining the price of the iPhone K required us to analyze sales figures and expenses from past iPhone models and conduct a sales forecast and break-even analysis.

6. Describe the roll and contribution that marketing plays in organizations and society.

Marketing is the primary way for firms to acquire and retain loyal customers who, in turn, generate sales and profit. The primary purpose of marketing is to identify likely consumers and reach out to them through advertisement so they will purchase products or services from the firm. This benefits both the firm and society. Members of society will be exposed to new products and services that will be beneficial for them. This was the case in our market planning assignment with the iPhone K, in which parents benefit from the product and Apple benefits from the sales.

7. Develop a good understanding of current marketing concepts, strategies, and techniques.

The primary way I fulfilled this learning outcome was through the reading and analysis of the company cases in each chapter of the text. These provided real-world examples of how firms successfully and unsuccessfully used marketing concepts to launch campaigns for their products and services. I was able to see and understand how current marketing concepts, strategies, and techniques are being applied in business. Answering the associated questions was a great way to connect the various chapter topics to the company cases.

8. Understand how marketing decisions are made.

Both the practicum and the market planning presentation were instrumental in my mastery of this learning outcome. As a group, we had to make our own marketing decisions regarding the iPhone K with the market planning assignment. These decisions ranged from setting the price of the phone to determining how to appeal to our target audience. I realized that marketing decisions rely on a great deal of research and analysis to ensure accuracy. Million-dollar decisions are made by marketing teams on a regular basis, so marketers must conduct careful research using credible sources to make informed decisions for their firm. With the practicum assignment, we were able to study some of the marketing decisions Apple made with the releases of its iPhone models.

9. Know how organizations search for new marketing opportunities and select target markets.

The market planning assignment was also the tool that allowed me to achieve this learning outcome. My group was able to collect primary data from a survey that we created ourselves with the intention of gaining market data to determine opportunities and target markets. Using this data along with the secondary data we retrieved from other sources allowed us to identify where opportunities were within the market and what would be the best target market for our product. It showed me how important it is for firms to use not only secondary data, but primary data that is tailored to the products and services they offer. This is the best way to identify new marketing opportunities and select target markets.

10. Explain how the marketing mix elements are blended into a cohesive marketing program.

The primary factors of the marketing mix are product, price, place, and promotion. One of the most crucial factors to a successful marketing campaign is being able to address all of these factors in a cohesive manner, where each one is beneficial to the others. This was one of our primary tasks with the development of the marketing plan for the iPhone K. On the Marketing Mix page of this learning portfolio, I presented a table that outlines the ways in which we used product, price, place, and promotion to guide our marketing plan.

11. Develop an understanding of the ethical and global issues facing people working in the marketing function.

This learning outcome was addressed in the beginning of the semester with Chapter 20 of the text, Sustainable Marketing: Social Responsibility and Ethics. This chapter addressed common criticism of marketing and how consumers want to see businesses engaging in sustainable marketing practices. The case study examined sustainable marketing and ethics through the sustainable living campaign that was started by Unilever. Marketers are often criticized for causing higher prices for products, engaging in deceptive practices, and promoting defective products. Addressing these issues directly and promoting a sustainable marketing plan is the best way to face the public and create a positive brand image for a company.

Below you will find links to my group’s market planning assignment paper and presentation along with our practicum presentation. These documents have all been referenced on this page.

Marketing Paper_Final Draft
Market Planning Assignment_Presentation
Group 2 Practicum