The proper use of marketing tools can greatly enhance the sales and profits of a business - but if not applied correctly, marketing activities can drain away a firm's profits. In the Essentials of Marketing course, we show how to create a well-designed marketing strategy, develop products that customers want, set prices, design distribution channels, and develop effective promotions. We also describe how to budget for marketing and measure its results. In short, this course is intended to provide the framework for the creation of an effective marketing function.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the different types of marketing strategies.
Specify the requirements for a marketing strategy.
Describe the ways in which sales can be increased within an existing market.
Identify the contents of a user profile.
Specify what causes an identified market segment to be abandoned.
Identify the characteristics of brand equity.
Recall how to manage requests for marketing research.
Specify the sources of marketing data.
Describe the contents of Maslow's hierarchy of needs.
Specify how to deal with different types of buyer behavior.
Specify how to improve the rate of buyer acceptance of new products.
Recall how purchasing decisions for business buyers differ from those for individuals.
Recall the marketing issues associated with product lines.
Specify when it is most necessary to use test marketing.
Identify the process used to develop a product using target costing.
Recall how strategic experiments are used in new product development.
Recall the advantages and disadvantages of using different types of pricing methods, as well as how they are used.
Specify the nature of revenue management tactics, and when they should be used.
Identify the economics of using wholesalers and retailers in a distribution channel.
Recall the nature of a horizontal channel.
Specify the advantages and disadvantages of using channel partners.
Identify the value proposition presented by a wholesaler.
Recall the differences between omnichannel and multi-channel retailing systems.
Specify the characteristics of the different types of stores and when each one should be used.
Identify the situations in which shoppers prefer to shop in stores.
Recall the success factors for a direct marketer.
Specify the different types of advertising.
Identify the advantages and disadvantages of advertising, public relations, and digital marketing.
Recall the situations in which promotions should be used.
Specify the characteristics of a guerrilla marketing campaign.
Identify the direct causes of a change in revenue.
Recall the types of sales and marketing budgeting formats that can be used.
Specify the methods used to derive a budgeted advertising expenditure level.
Identify how pacing applies to the sales function of a business.
Recall the situations in which the various marketing metrics can be used, and how they are calculated.
Major Topics
Overview of Marketing
Types of Marketing Strategy
Stages of Marketing Strategy
Marketing Control
The Coordinating Role of Marketing
Marketing Fata Accumulation
Customer Behavior
Influences on Customers Purchases
The Buyer Decision Process
Stages of Buyer Acceptance
The Business Buyer Decision Process
The Nature of Product Offerings
Marketing Tactics for Products
New Product Development
The Product Life Cycle
Pricing Strategy
Pricing Tactics
Distributions Channels
Managing Channel Partners
Wholesalers
Retailers
Direct Marketing
Developing Marketing Communications
Types and Timing of Sales and Marketing Expenses
Marketing Metrics
