Marketing is the process of creating, communicating, delivering and exchanging offerings that have value for customers and society. Marketers ensure that organizations understand customers, so they act in the customer interest and generate customer loyalty. Marketing generates revenue, profits and value for firms by satisfying customers; it creates the future by steering product innovation and driving the growth of new markets.
Marketing is important for all organizations: profit or not-for-profit and manufacturer, wholesaler or retailer of goods or services. It can be applied to individuals in developing their careers. The foundations of marketing are:
- Research to identify customer needs and to direct new product development
- Planning to select markets and to delivery products and services when and where they are needed by potential customers at appropriate prices
- Strategies to build strong brands
- Communication with consumers using new and traditional media, and
- Adapting marketing to international markets and cultures.
The Marketing Major at the Alberta School of Business builds on its world class faculty research in consumer behavior, online decision making, market research, marketing models and retailing to teach students to engage in sophisticated marketing practice. The program balances teaching of research based principles with innovative teaching methods. It builds practical skills in consumer and market analysis, managerial decision-making, and implementing marketing programs. Marketing courses use lectures, discussions, managerial cases, market simulations, and group projects that apply principles to real organizational situations.
Marketers can use the human behavioral insight of a social scientist, the creativity of a fine artist, the organizational focus of an MBA and the quantitative skills of an engineer. Typically they combine a strong analytical mind with a creative flair and an ability to connect and communicate with people.
Employment opportunities in marketing are limitless. Graduates can compete for jobs in consumer and industrial marketing, sales, merchandising, advertising and promotions, customer service, distribution and marketing research. Their external focus provides marketers with a perspective that many organizations find valuable in senior managers.