Success For A Student Undertaking A Bachelor Of Business Essay
Fundamentals of Marketing provides a student with a base knowledge of and understanding in marketing and its use in the everyday world. As a desired outcome a student will be able to demonstrate the ability to understand and apply, in general terms, the machinations of marketing concepts and how they fit, in theoretical terms, to businesses (Swinburne, 2016).
A student will develop an understanding of key marketing terms including market segmentation which is the method used to divide consumers into core groups based upon similar needs and wants. Students will learn the difference between the needs and wants of a consumer; needs being defined as encompassing the spectrums of cultural, social and physical whereas wants are a choice a consumer makes dependent on personal and cultural preferences.
The objective of marketing is dual in its purpose, which is to source new customers and retain by encouragement of brand loyalty through exceptional service and product delivery (Moore and Pareek 2009, 7-8). Students will be educated in the key steps involved in the marketing process in order to achieve the business objectives which are to establish a set plan, conduct research and data analysis in order to produce information and help identify the target market…