ENT2030 Marketing The Venture

Intermediate · 1 credit · BIT - Business, Admin, Finance and IT

Description: Students appraise various marketing strategies and formulate a marketing strategy for a venture.
Prerequisite: None
Parameters: No specialized equipment or facilities.

Outcomes The student will:

1 describe various marketing strategies in terms of their suitability in reaching the target market for the venture
- 1.1 differentiate between primary and secondary data
- 1.2 conduct basic marketing research from the following sources in order to identify the primary target customer:
  - 1.2.1 primary sources; e.g., observing, interviewing potential customers
  - 1.2.2 secondary sources; e.g., trade magazines, news articles, the Yellow Pages, Statistics Canada
- 1.3 describe the primary target customer for the venture in terms of:
  - 1.3.1 psychographics; e.g., lifestyle, buying habits, attitudes, opinions
  - 1.3.2 demographics; e.g., education level, income, age
  - 1.3.3 geographic; e.g., geographic area
- 1.4 use statistical information to identify the number of potential customers within the marketing area
- 1.5 analyze the following particular ventures in terms of the marketing mix:
  - 1.5.1 product service characteristics; e.g., unique selling points
  - 1.5.2 pricing
  - 1.5.3 distribution channels
  - 1.5.4 promotion
2 describe and implement a marketing strategy for a particular venture
- 2.1 apply the concept of marketing to a particular venture
- 2.2 analyze the relationship between marketing and other venture decisions
- 2.3 describe the decisions that must be made when completing a marketing plan
- 2.4 research sources of assistance and information and create a support network
3 identify the strengths and weaknesses of the marketing strategy and revise the strategy, as necessary
- 3.1 identify various marketing strategies for their applicability in terms of marketing mix for a target market
- 3.2 justify the importance of a marketing program for the venture including:
  - 3.2.1 economic
  - 3.2.2 social
  - 3.2.3 business
- 3.3 compare the various techniques of promotion such as:
  - 3.3.1 advertising
  - 3.3.2 personal selling
  - 3.3.3 free publicity
  - 3.3.4 sales promotion
  - 3.3.5 merchandising
  - 3.3.6 trade shows
- 3.4 analyze cost-benefit factors in the selection of alternative marketing strategies
- 3.5 devise a promotional strategy, within a predetermined budget, for the particular venture
- 3.6 evaluate the strengths and weaknesses of the marketing strategy and revise, as necessary
4 demonstrate basic competencies
- 4.1 demonstrate fundamental skills to:
  - 4.1.1 communicate
  - 4.1.2 manage information
  - 4.1.3 use numbers
  - 4.1.4 think and solve problems
- 4.2 demonstrate personal management skills to:
  - 4.2.1 demonstrate positive attitudes and behaviours
  - 4.2.2 be responsible
  - 4.2.3 be adaptable
  - 4.2.4 learn continuously
  - 4.2.5 work safely
- 4.3 demonstrate teamwork skills to:
  - 4.3.1 work with others
  - 4.3.2 participate in projects and tasks
5 identify possible life roles related to the skills and content of this cluster
- 5.1 recognize and then analyze the opportunities and barriers in the immediate environment
- 5.2 identify potential resources to minimize barriers and maximize opportunities