Marketing Management
This is the fifth of seven courses in the Foundations of Business Program. The course will explore different facets of marketing, such as knowing your customers, pricing strategy, and achieving a customer-centered approach.
Price: $299
Modality: Self-Paced, Online
Time Required: Approximately 30 hours
Overview
In this course, you'll learn key marketing strategies to develop products that match customers' needs and to create awareness and demand for those products. As a team of faculty, we have carefully crafted each module to give you the information, practice, and application you'll need. In the end, you'll walk away with the keys to successful marketing.
Learning Objectives
- Evaluate and select the best target segment to devote your time and resources to
- Explore tactics to create the most value for your target customers
- Apply the framework to more effectively analyze, strategize, and act on key concepts to build strong relationships with your customers
Modules
Module 1: Know Your Customer
Market analysis is important to the marketer because it allows you to devise a comprehensive strategy, so it makes sense to begin the course here.
In the marketing framework for Analysis, there are 5C's (Company, Collaborator, Customer, Competitor, and Context). We are going to spend a little bit of time here exploring the concept of customer analysis and, specifically, what influences consumer behavior.
Module 2: Segmentation, Targeting, & Positioning
In this module, you'll learn to recognize the three aspects of marketing strategy shown in the figure below: Segment, Target, and Position (STP). You'll practice identifying your position and writing formal position statements so you can clearly and powerfully communicate your strategy. Finally, you will see how customer analysis and strategy concepts come together in a complex, interactive business case.
Module 3: Product & Promotion
In this module, we explore facets of product decisions, including what it means to deliver a “whole product” to your customer. A whole product is a turn-key solution--everything your customer needs to solve their problem--which can streamline their experience and induce them to buy.
Promotion includes all of the activities that a firm does to communicate (or promote) its products and services to its target market. These promotional tactics may include a website, television advertising, salesforce, social media, and many others.
A brand is more complicated. It’s how people perceive a firm’s product, service, experience, or organization. It includes the reality of a firm’s offering as well as the perception that a customer has of that offering. Brands live in a customer’s mind; firms work to influence brands but do not entirely have control over them. Through promotion, firms convey the brand identity and meaning to customers.
Module 4: Place & Price
In the previous module, we looked at Product and Promotion, now you are ready for the next of the 4P's: Place and Price. We continue exploring the decisions or actions required, specifically around the place or channel through which your product or service is sold.
Module 5: Customer Relationships
Here we explore keeping your focus on the customer, or "customer centricity".
It is a specific perspective taken to manage the marketing function - instead of being product-centric you take a customer-centric approach. This holistic viewpoint encompasses the 5C's of Analysis, the STP of Strategy, and the 4P's of Action to develop strategies and tactics to enhance the value provided to the customers and thus increase the value the firms receive in return.
