In this area, we offer ideas for educators who teach marketing concepts. Information presented in this section is drawn from several sources including current industry news, resouces highlighting best-practice in teaching and other ideas. The information presented can be helpful for enhancing lectures, stimulating discussion and creating course accessments.
In discussing what makes for a successful new product, many students will point to promotion as being the key component. They may argue that a product has no chance of being successful if people are not aware of it, and that requires an emphasis on effective promotion. They may even suggest promotion does not need to be that expensive by citing examples of products that were primarily introduced using social media. While promotion is often a critical part of a new product’s marketing strategy, students should know that often it is innovative product design that leads a new product to become legendary product.
When teaching marketing, there are certain topics that a good number of students often struggle to comprehend. For instance, explaining various pricing methods or country restriction when engaging in global marketing can often have an educator looking out on a classroom filled with glazed eyes. Another area that some students find hard to grasp is market segmentation. While a critical component of marketing strategy, explaining the nuisance of slicing big markets into smaller markets, particularly the idea of the “bases of segmentation,” can also be perplexing for students.
In an introductory marketing course, educators often find that one of the more challenging topics is discussing the effects external forces have on a marketing organization. One reason it is challenging is that students become too focused on learning the basics of marketing. That is, they expend most of their energy trying to understand the key marketing mix decisions (i.e., product, price, promotion, distribution). Because most of their attention is directed at the basics, understanding where such external forces as governmental involvement, economic conditions and cultural changes fit in can be difficult to grasp.
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- Shoppers Need a Reason to Go to Your Store — Other Than Buying Stuff (why retailers need to add non-product benefits) Harvard Business Review
- Retail’s Newest Bad Word: Walmart Drops ‘Stores’ From Its Formal Name (name change reflects growth of online ordering) Washington Post
- 5 Trends for 2018 (marketing and business issues worth watching) Trendwatching
- Making It Personal for Every Customer (insights into customer personalization) CRM Magazine
- The Future Of Retail In The Age Of Amazon (competing against a retail giant) Fast Company