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Companies focus on sales and advertising only after all other factors of marketing have been determined. This unit will teach you that marketing departments focus on a set of core principles, most of which are summarized by the 4 Ps (product, price, place, and promotion). The 4 Ps are also known as the marketing mix.
The objectives of this course are to demonstrate the role of marketing in the company; to explore the relationship of marketing to other functions; and to show how effective marketing builds on a thorough understanding of buyer behavior to create value for customers. Students learn how to: 1  Make marketing decisions in the context of general management. 2  Control the elements of the marketing mixâproduct policy, channels of distribution, communication, and pricingâto satisfy customer needs profitably.  Use this knowledge in a brand management simulation.