The module mostly involves all the fundamentals of marketing. The first learning outcome of the module is the marketing concept. Showcasing is the method of getting the correct merchandise or services or thoughts to the proper individuals at the correct put, time, and cost, utilizing the proper advancement procedures and utilizing the suitable individuals to supply the customer benefit related to those merchandise administrations or ideas. This concept is alluded to as the “right” guideline and is the premise of all showcasing techniques. We can say that showcasing is finding out the desires and needs of potential buyers (whether organizations or buyers) and then giving merchandise and administrations that meet or surpass the desires of those buyers.
Promoting is approximately making trades. A trade takes put when two parties grant something of esteem to each other to fulfill their individual needs or needs. Client esteem is the proportion of benefits for the client (organization or customer) to the give up vital to get those benefits. The client decides the esteem of both the benefits and the penances. Making client esteem could be a center trade methodology of many successful firms. Client esteem is rooted within the conviction that cost is not the as it were the thing that things. Commerce that centers on the fetched of generation and cost to the client will be overseen even though it gave a product separated as it were by cost.
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In differentiate, businesses that give client esteem accept that numerous clients will pay a premium for prevalent client benefit or acknowledge fewer services for an esteem cost. It is vital not to base esteem on cost (rather than benefit or quality) since clients who, as it were esteem cost, will purchase from the competition as before long as a competitor can offer a lower cost.
The module also helps the students to understand elements of the marketing process. Showcasing is the trade teaches concerned with creating brands, illuminating the open items and administrations, persuading buyers to purchase particular items, encouraging exchanges, and giving after-sale benefits. Promoting gives the confront of trade, and the as it were component that most buyers ever come into contact with. Although showcasing envelops many concepts and procedures, several essential components tie all showcasing concepts together.
Understanding the fundamental essentials of showcasing can boost their adequacy as an advertiser or a little trade proprietor. The fabricating concept characterizes how trade was conducted in times gone by: to begin with, a company creates an item, at that point, it sets around showcasing that item to customers. The promoting concept presents unused essentials to the item advancement condition. With the promoting concept, businesses start with advertising investigate, searching for neglected needs within the commercial center and talking with customers approximately what unused items they would like to see some time recently considering approximately creating an item.
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Location: Laureate International Universities, United States
Study Level: Post Graduate and Undergraduate
Unit Code: MKT101A
Mid Term Test consists of various kinds of questions related to the entire module that has been taught to the students.
Individual Case Study Assignment – The student would select a case study and answer questions.
Major Group Project Assignment – Group of students, will produce the assignment. They would also provide a presentation on the assignment.
Laboratory and Problem Based learning participation and submission – Practical work needs to be conducted, and outputs must be submitted.
The final Examination would contain subjective questions that the students need to answer in a stipulated time.
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Midterm Test – 10%
Individual Case Study Assignment – 15%
Major Group Project Assignment – 20%
Laboratory & Problem Based Learning participation & submission – 10%
Final Examination – 45%
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