Marketing is organized around the structure known as the Marketing Mix, which includes product, price, place, and promotion. These are the basic strategies that are the core of all marketing activity. As such, marketing faculty members chose to assess the understanding, utilization, and application of these strategies for our graduates using two tools or structures common to all marketing classes: the Product Life Cycle (PLC) and the Consumer Decision-Making Process (CDMP).
Product Life Cycle
The PLC is a graphical tool that describes the typical stages that a product or industry passes through during its life from introduction to obsolescence. It has four stages and in each stage, the role and management of each element of the Marketing Mix evolves in concert with the stage in question. Also at each stage, there are Marketing Mix considerations from the perspective of both the organization and the consumer. The PLC is a basic foundational element that all marketing graduates need to master.
Consumer Decision-Making Process
The CDMP is the set of stages that a consumer “passes through” in making a purchase decision, regardless of whether it is a first-time purchase or a repeat purchase and also whether or not the consumer is conscious or unconscious of each stage. As with the PLC, there is a specific evolution of the various import of the elements of the Marketing Mix as consumers proceed through each stage, and these can be examined both from the perspective of the organization and of the consumer. This model is a basic foundational element that all marketing graduates need to master.
SLO 1: Marketing graduates will be able to describe the marketing mix across the stages of the Product Life Cycle.
Graduating marketing students will be able to explain the Marketing Mix implications appropriate for each stage of the Product Life Cycle.
SLO 2: Marketing graduates will be able to describe the Marketing Mix in relation to the stages of the Consumer Decision Making Process.
A: Graduating marketing students will be able to list and explain the stages of the CDMP.
B: Graduating marketing students will be able to describe the Marketing objectives/tasks appropriate for each stage of the CDMP.
All Marketing graduates, regardless of concentration, are assessed using the above SLOs.
Finally, all Marketing graduates are assessed using the general Parker College of Business SLOs that are common to all Parker College of Business students.
Last updated: 11/14/2018