Marketing is a value-enhancing function that identifies opportunities, develops markets, and builds brands. With that, good marketing enables companies to charge price premiums, sustain competitive advantage and maintain long-run profitability. To this end, the course covers the following topics: understanding consumer and corporate behavior, conducting customer and competitor analysis, developing new products, branding and brand extension, pricing, designing distribution channels, and managing marketing-mix activities.
The learner will be exposed to the fundamental concepts of marketing and thus learn the “language” of marketing (i.e., talk-the-talk), be trained to use the analytic tools of marketing, via specially designed assignments, so that you know how to “do” marketing (i.e., walk-the-talk). In so doing, the student will learn to discover a brand’s image and personality, market segmentations, position own and competitors’ brands in perceptual maps, determine the value of attributes comprising a new product, predict the likely market share of a new product design, assess the price of an attribute in existing products, estimate the effectiveness of marketing-mix activities, optimal resource allocation, be exposed to the emerging concepts (e.g., online reverse auctions) and tools (e.g., BidAnalyzer) to become a strategic marketer- who knows how to make marketing decisions.
For Cooperatives, studying cooperatives aids understanding of all aspects of industrial structure and business organization, and challenges conventional thinking about what it means for an economic system to be “capitalist”. Fundamentally, a cooperative firm represents a unique form of business ownership where “patrons”, rather than financiers, are business owners.
- Understand the unique role and characteristics of cooperative organizations
- Apply understanding of cooperative principles to the management of cooperatives
- Develop interpersonal skills and tools for future work and study