Credits: 2
Pre-requisites: None
Compulsory / Optional: Compulsory for Mechanical Engineering with Business Track of Mechanical Engineering / Optional for Others
Aim(s)
To introduce engineering students to basic marketing concepts and their applications.
Intended Learning Outcomes
- Describe basic marketing terminology and concepts.
- Explain the characteristics of consumers and businesses buyer behaviour.
- Explain market segmentation, targeting and positioning for a product or a service.
- Develop a marketing plan using the elements of marketing mix.
Course Content
- Introduction to Marketing: Scope of marketing; needs; wants and demands; elements of marketing mix; collecting analysing market data.
- Buyer Behaviour: Consumer buyer behaviour; business buyer behaviour.
- Segmentation Targeting and Positioning: Analysing marketing environment; bases of segmentation; selecting target segments; positioning the product.
- Products and Services: Goods and services; differentiating products; product life cycle; branding; building brand equity.
- Pricing: Considerations in setting initial price; adapting price.
- Promotions: Promotions mix; 5M’s in advertising; sales promotions; public relations; personal selling.
- Marketing Channels: Selecting marketing channels; retailing and wholesaling; franchising; managing channel conflict.
| Time Allocation | Hours |
|---|---|
| Lectures | 17 |
| Tutorials Small Group Discussion | 5 |
| Assignments | 16 |
| Assessment | Percentage Marks |
|---|---|
| Small Group Activities / Case Studies / Assignments / Presentation | 50 |
| End Semester Examination | 50 |