Essentials of Marketing

As a business professional, you need to have a clear understanding of your markets and what drives your customers' decisions to buy. In this course, you’ll get modern techniques for analyzing markets and quantifying customer needs, wants, and preferences (NWP). Learn tactics to utilize the 4 Ps of Marketing (Product, Price, Place, and Promotion) and proven tools and methods to avoid the most common marketing mistakes. In hands-on activities, you’ll discover how to implement the right approach for your company’s unique needs.

Who Should Attend:

• Newly appointed marketers
• Product, brand and advertising managers
• Business professionals and executives who need a clearer understanding of marketing’s role in generating profits

How You Will Benefit:

• Recognize the wide-ranging marketing roles and functions within different organizations
• Apply modern techniques for conducting marketplace analysis
• Utilize insightful marketing tactics to pinpoint why customers buy or don’t buy
• Align the 4 Ps with your products, services, and customer wants

What You Will Cover:

• Identifying your key marketing challenges
• Defining crucial marketplace data and implementing market research
• Understanding the components of each of the 4 Ps
• Relating stages of the product lifecycle to marketing strategy
• Conducting a product SWOT analysis
• Positioning your organization’s product(s) and/or service(s) in the marketplace
• Exploring different marketing communication vehicles and channels used for promotion
• Developing a marketing plan for your organization

Outline

Learning Objectives

• Recognize the Widely Varying Roles and Functions of Marketing Within Different Organizations
• Apply Modern Techniques for Conducting Marketplace Analysis
• Utilize Insightful Marketing Tactics to Identify and Quantify the Key Factors That Drive Your Customers’ Purchase Decisions
• Determine How to Utilize the Four Ps of Marketing (Product, Price, Place, and Promotion) to Align Your Offerings with the Customers’ Key Purchasing Factors

Marketing Overview

• Identify Your Key Challenges and Concerns in Marketing
• Recognize That the Roles and Functions of Marketing Vary Widely Within Organizations
• Define Marketing in a Way That Is Relevant to Your Organization
• Describe the Four Essential Elements for Effective Marketing and Rate Your Ability

Marketplace Analysis

• Define Market Research
• Identify Multiple Sources for Insightful Marketplace Information
• Define Crucial Marketplace Data
• Recognize the Primary Macro-Environmental Trends That Influence Organizations’ Success

The Marketing Mix—Product/Price/Place/Promotion

• Define Each of the Four Ps and Describe the Components of Each
• Relate Stages of the Product Life Cycle to Marketing Strategy
• Collect Accurate Product Data and Determine Customers’ Needs, Wants, and Preferences (NWP)
• Conduct a Product SWOT Analysis
• Position Your Organization’s Product(s) and/or Service(s) in the Marketplace
• Recognize the Factors That Impact Price and Develop a Pricing Strategy
• Describe the Factors Related to Determining Place
• Explain the Marketing Communication Vehicles and Channels Used for Promotion

Your Action Plan for Success

• Measure Your Professional Growth During the Course and Identify Further Development Options
• Develop a Marketing Plan Outline for One of Your Organization’s Products or Services