Fundamentals of Marketing: Your Action Plan for Success

As a marketing 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.

• 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 

• 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

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

LEARNING OBJECTIVES

• Apply Marketing Principles and Practices to Compete Successfully in the Contemporary Business Environment
• Explain the “Whys” and “Hows” Behind Fundamental Marketing Practices
• Walk Away Thinking Like a Marketer

LESSON ONE

Marketing Overview

• Define Marketing
• Identify the Role of Marketing
• Contrast Strategic Business Plans with Annual Marketing Plans

Market Analysis

• Describe Approaches to Gathering Marketing Information
• Identify Macro-Environmental Trends That Impact a Business
• Define Key Differences Between B2B and B2C Markets
• Conduct a Competitive Analysis
• Develop a SWOT Analysis

LESSON TWO

Market Analysis (cont’d)

• Describe Approaches to Gathering Marketing Information
• Identify Macro-Environmental Trends That Impact a Business
• Define Key Differences Between B2B and B2C Markets
• Conduct a Competitive Analysis
• Develop a SWOT Analysis

Segmentation, Targeting, and Positioning

• Write SMART Marketing Goals
• Compare Mass Marketing to Segmentation Marketing
• Analyze Customer Segments in Order to Select Target Audiences
• Write a Positioning Statement

LESSON THREE

Marketing Mix

• Explain How the Four Ps Align with One Another
• Describe How a Product Itself Can Impact Marketing Efforts
• Explain Various Pricing Objectives and Strategies
• Discuss How Channels of Distribution Impact Marketing Decisions
• Define Objectives and Strategies for Core Modes of Communication

LESSON FOUR

Creating Customer Value

• Describe How to Create Customer Value, Satisfaction, and Loyalty
• Define Net Promoter Score as a Measure of Customer Loyalty
• Identify Ways Organizations Cultivate Customer Relationships
• Create an Approach to Developing Marketing Action Plans and Budgets