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Marketing Mix Fundamentals

Approx. 9 hours to complete

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Course Summary

Learn the fundamentals of the marketing mix and how to apply them to real-world business situations. This course will cover the four Ps of marketing: product, price, promotion, and place.

Key Learning Points

Understand the importance of the marketing mix in developing successful marketing strategies
Learn how to analyze and apply the four Ps of marketing
Explore real-world case studies to see the marketing mix in action

Learning Outcomes

Develop a solid understanding of the marketing mix and its importance in modern business
Be able to analyze and apply the four Ps of marketing to real-world business scenarios
Gain valuable insights from real-world case studies and examples

Prerequisites or good to have knowledge before taking this course

Basic understanding of business and marketing concepts
Access to a computer and internet connection

Course Difficulty Level

Intermediate

Course Format

Self-paced online course
Video lectures
Real-world case studies

Similar Courses

Marketing Analytics
Digital Marketing
Marketing Strategy

Related Education Paths

Notable People in This Field

Seth Godin
Neil Patel

Related Books

Description

Marketing Mix Fundamentals prepares you for arguably the most important stage of bring your product to market - how and where are you going to market it? It sets out a detailed introduction to the four P’s of Marketing (Product, Pricing, Place and Promotion), this course forces you to strategically analyze your product and/or service.

The Product session is designed to provide you with the knowledge to understand and manage the strategic role of brands and products in generating business results, whilst the focus on Pricing will cover the main concepts and techniques to formulate prices. Compliment this with skills from the “P” session Place, where you consider channels and retail strategies with the overriding objective of defining a distribution strategy for your product or service. Finally, through the Promotional activities (Communication) session, explore the different communication channels available and understand the importance of the media plan, dealing specifically with social media and omni-channel strategy. IE Professors Maria Teresa Aranzabal and Fernando Cortiñas will guide you through this incredibly important stage of marketing strategy using expert interviews with industry professionals. After this course you will be ready to decide where and how you want to market your product.

Outline

Product and Product Policy
Course Trailer
Marketing Warfare: Intro to the Course
What is a Product? Product Definition and Product Levels
Product & Service Decisions
What is a Brand?
The Product Life Cycle
Planned Obselescence
Product Strategy Matrices: BCG Matrix
Product Strategy Matrixes: McKinsey/General Electric Matrix
Product Strategy Matrices: Ansoff Matrix
Product Life Cycle Stages
Planned Obsolescence
Here's the Truth about the Planned Obsolescence of Tech
BCG Classics Revisited: The Growth Share Matrix
Enduring Ideas: The GE-McKinsey Nine-Box Matrix
Product Policy: 6 Essential Components of a Sound Product Policy
Graded Quiz

Price and Pricing Policy
What is Price?
The Emergence of Internet Pricing
Internal Factors Affecting Price Definition
External Factors Affecting Price Definition
General Pricing Approaches 1: Cost-Based
General Pricing Approaches 2: Value-Based
Methods to Price Your Product
Pay-per-laugh: Customers charged exactly for what they "consume"
Graded Quiz

Channel Management and Retailing
Why are Marketing Channels so Important?
Key Factors in Designing a Distribution Channel
How to Manage Channels and Resolve Conflict
The Nature of Trade Marketing
How is Trade Marketing Evolving?
Expert Interview: Sixto Collazo, International Director of Loewe Perfumes S.A. (LVMH)
Important Developments in Retailing
Retail Strategy and Multichannel Retailing
Global Growth Opportunities and Entry Strategies
The Emergence of Online Retail Channels
Strategic Channel Design
Three Rules for Buiding the Modern Retail Organization
Recommended Reading: Levo/Weitz: ¨Retail Management¨, McGraw Hill, 9th Edition Content
Graded Quiz

Marketing Communications
The Role of Marketing Communications
Developing Effective Communications
Establishing the Marketing Communications Budget
Deciding on the Marketing Communication Mix
Managing the Integrated Marketing Communications Process
Expert Interview: José María Rull, President and CEO of DDB Spain
Managing Media and Evaluating Effectiveness
Developing an Advertising Program
Sales Promotion, PR, Events and Experiences
Direct and Interactive Marketing
Developing the Sales Force
Expert Interview: Gabriel Saenz de Buruaga, Founder and Co-CEO of WINK, Transforming Through Digital
Trailer: The Marketing Plan
Recommended Reading: Designing and Managing Marketing Communications
How Advertising Works: What Do We Really Know?
Managing Brands for the Long Run
A Strategic Perspective on Sales Promotions
Recommended Reading: Integrated Advertising, Promotion, and Marketing Communications
Graded Quiz

Summary of User Reviews

This course on Marketing Mix has received positive reviews overall. Many users found the course to be informative and engaging. The course covers all the essential aspects of marketing mix and provides in-depth knowledge of the subject.

Key Aspect Users Liked About This Course

The course provides practical examples and case studies to help users understand the concepts easily.

Pros from User Reviews

The course covers all the essential aspects of marketing mix.
Provides practical examples and case studies to help users understand the concepts easily.
The course is well-structured and easy to follow.
The instructors are knowledgeable and provide excellent explanations.
The course provides valuable insights into marketing strategies.

Cons from User Reviews

The course is quite basic and may not be suitable for advanced learners.
The course materials could be more interactive and engaging.
The course does not cover the latest trends and developments in marketing.
The course is not suitable for those who are looking for a hands-on learning experience.
The course is quite lengthy and requires a significant time commitment.

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