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Marketing

Course developer

Prior knowledge

Ekon1024, Microeconomics

Course abstract

In this course, students will obtain understanding about the theoretical aspects of market system’s functioning, marketing functions in enterprises, the transformation of contemporary marketing paradigm in line with the value system changes in society as well as will have further insights in main principles related with the development and management of marketing mix elements for creation of sustainable marketing system in enterprises of various industries.

Learning outcomes and their assessment

Knowledge:
About the principles and regularities of market operation, the nature of demand and supply in the market in different market competition conditions; understanding of marketing functions in the company, their provision, solving related problems. Knowledge of marketing analysis methods, specifics and possibilities of their use.
Skills:
To analyse the complex of marketing mix elements and its management system. Ability to collect information in a practical and goal-oriented way and apply marketing analysis methods to evaluate specific marketing problems.

Competence:
Using theoretical knowledge and practical application of marketing analysis methods, ability to independently and critically analyse the market potential of the product and evaluate the implementation of the company's marketing functions, offering specific solutions to promote its competitiveness.

Course Content(Calendar)

Lectures 32 h, practicals 32 h
1. The concept and essence of marketing.
• Defining the concept of marketing.
• Description of marketing functions.
• Transformation of marketing philosophy in the processes of changing society's values. 2 lectures, 1 practical work
2. Description of marketing activity, driving forces, evolution.
• Concepts focused on production, product improvement, sales intensification; customer-oriented marketing concept; relationship oriented marketing concept; social marketing concept; green marketing; digital marketing.
• Indications and restrictions on the use of different marketing concepts. 2 lectures, 2 practical works
3. Market types and their specifics. Variations in the market demand situation and appropriate marketing approaches.
• Characteristics of private consumption and industrial markets.
• Description of negative, potential, sufficient, excessive, demand in the market.
• The reasons and essence of different marketing aims: conversion, stimulating, developing, re-marketing, balancing, de-marketing and anti-marketing. 2 lectures - 2 practical works
4. Factors of internal and external marketing environment. Marketing environment analysis.
• Characterization and influence of marketing internal and external environment (micro / macro) factors. 2 lectures, 2 practical works
5. Product classification. Analysis of the company's product portfolio.
• Description of product types.
• Boston Advisory Group Matrix for Product Portfolio Analysis. 2 lectures, 2 practical works
6. Market segmentation, defining the target market.
• Objective and subjective features of market segmentation.
• Specifics of concentrated, differentiated and mass marketing. 2 lectures, 2 practical works
7. Product positioning and branding strategies.
• The essence of product positioning and product position creation.
• Description of brand management strategies (collective brand, individual brand, national brand, “private label”, etc.) and indications for their use. 2 lectures, 2 practical works
8. Distribution channel participants and their functions.
• Functions of retailers, wholesalers, intermediaries, agents.
• Description of the added value of each participant in the distribution channel. 2 lectures, 2 practical works
9. Pricing approaches. Pricing policy development.
• Characterization of internal and external pricing factors.
• Pricing methods: cost, competitors, demand-oriented prices.
• The impact of the company's goals on pricing policy. 2 lectures, 2 practical works
10. The essence of competition, its types, methods of analysis. Identifying competitive advantages.
• The essence of competition, levels.
• Forms of competition: monopoly, monopsony, oligopoly, competition in monopoly, complete competition.
• Analysis of M. Porter's five competitive forces, Burton's 5 collaborative forces model.
• The methods for competitor and competitiveness analysis. 3 lectures, 3 practical works
11. Marketing mix element complex - 4P and 7P model.
• Development of a marketing mix set for the product - 4P.
• Development of a marketing mix set for the service - 7P. 3 lectures, 3 practical works
12. Consumer behaviour in the market.
• Purchasing process stake-holders.
• Factors influencing customer behaviour.
• Stages of information processing in the process of making a purchase. 2 lectures, 2 practical works
13. Marketing communication complex.
• The essence, types, functions of advertising.
• Functions of sales promotion activities.
• Direct channel marketing.
• Public Relations. Their functions, forms. 2 lectures, 2 practical works
14. Strategic marketing planning. Marketing audit.
• Marketing plans: strategic, tactical, operational; their essence, elements, results to be achieved.
• Monitoring and control of marketing projects and programmes, creating customer feedback. 2 lectures, 3 practical works
15. Marketing ethics. Aspects of social responsibility in marketing projects.
• Competition law.
• Advertising law.

• Legal regulation of data protection in Latvia and the European Union. 2 lectures, 2 practical works

Requirements for awarding credit points

• Passed test on theoretical issues of the course.
• Positive evaluation of practical work in classes (research and discussion of marketing problems in group work, case studies, discussions).
• Positive evaluation of independent work with calculations.

• Positive evaluation of the individually prepared research work and presentation of its results to the group on the day of the exam.

Description of the organization and tasks of students’ independent work

Investigation, development, analysis of marketing mix elements; research of various marketing problems.

Criteria for Evaluating Learning Outcomes

Four activities are evaluated in the course: written test; participation in practical work (group work, seminar classes, discussions); independent work with calculations; development and presentation of individual research to the audience. Assessment weights: test 10%; activity and performance of tasks in practical work classes 40%; independent work with calculations 10%; research development and presentation on the day of the exam 40%. The exam may be taken only if a successful evaluation has been obtained in the test, practical work and independent work with calculations.

Compulsory reading

1. Praude V. Mārketings: teorija un prakse. 1. grāmata, 3. izd. Rīga: Burtene, 2011. 522 lpp.
2. Praude V. Mārketings: teorija un prakse. 2. grāmata, 3. izd. Rīga: Burtene, 2011. 348 lpp.

3. Kotler P., Keller K.L. Marketing Management, 14th ed., Pearson Education, 2012. 812p. E-grāmata, pieejama: http://socioline.ru/files/5/283/kotler_keller_-_marketing_management_14th_edition.pdf

Further reading

1. Kotler P., Kartajaya H., Setiawan I. Marketing 4.0 Moving from Traditional to Digital, 2016. E-grāmata, pieejama: http://www.ebook777.com/marketing-4-0-moving-traditional-digital/
2. Kotler P., Meller K.L. Marketing Management. Prentice Hall, 2015, 832p.
3. Praude V., Šalkovska J. Satura mārketings internetā, Rīga, Burtene, 2018, 256.lpp.

4. Praude V., Šalkovska J. Integrētā mārketinga komunikācija : reklāma, produktu realizācijas veicināšana, tiešais mārketings, interaktīvais mārketings, sabiedriskās saskarsmes, sponsorēšana, personiskā apkalpošana, izstādes, Rīga, Burtene, 2015, 464. lpp.

Periodicals and other sources

1. “Dienas Bizness” , nedēļas laikraksts : Latvijas biznesa avīze
2. “Kapitāls”, Rīga: SIA BIG Media, ISSN 1407-2505

3. “The Economist”, London: Economist Newspaper Ltd. ISSN 0013-0613.

Notes

Compulsory course in ESAF academic bachelor study program "Economics".