Understanding Markets


An informative introduction to marketing, this course provides a basic understanding of marketing structures and techniques including fundamentals of supply and demand and using planning and forecasting techniques. The course covers the concepts of economies of scale and the laws of returns to scale and their effect on production decisions. It also examines the implications of the market structure and competition to marketing decisions and seeks to develop the student’s understanding of how the firm can benefit by creating and delivering value to its customers and stakeholders. The course uses lectures from marketing experts, case discussions, case write-ups and student presentations to achieve these objectives.

Student Learning Outcomes

On successful completion of the course, students will be able to

  • Analyze markets and understand customer needs
  • Measure customer demand for a product or service
  • Understand the theory of demand and demand forecasting techniques and utilize them to analyze and forecast demand.
  • Use economies of scale and laws of returns to scale to maximize returns.
  • Study the competition and utilize inferences to come up with production and pricing decisions.