Marketing Essentials is a complete programme, which results in the student receiving an award upon successful completion. The student must complete two assignments as part of this course.
Marketing Essentials includes the following courses:
– History, Definition and Concept of Marketing
– Segmentation, Positioning and the Marketing Mix
– Marketing Planning
– Buyer Behaviour
– Market Research
– Product Decisions
– Service Decisions
– Pricing Decisions
– Distribution Decisions
– Integrated Marketing Communications
This course can lead to external certification of the student chooses – i.e. the student must taken an external exam at an accredited centre (Please Note: an independent charge may be levied by the chosen test centre).
The courses included within Marketing Essentials are outlined below:
History, Definition and Concept of Marketing
This course provides the foundation for a sound understanding of Marketing, and includes answers to questions such as: Is marketing an art or a science?
Segmentation, Positioning and the Marketing Mix
Segmentation, Positioning and the Marketing Mix are key elements of the marketing strategy. This course examines all three concepts and explains how to position your organisation in the market.
Marketing Planning is a vital process. This course describes the process by breaking it down into six elements: Situation analysis, Objectives, Strategy, Tactics, Action and Control. This is known as the SOSTAC planning model.
This course explores Buyer Behaviour both in terms of consumer buying and organisational buying. The factors influencing buying behaviour are analysed including social, cultural, psychological and personal factors.
Business decisions are usually made in a state of uncertainty, which means that they carry an element of risk. Market research helps to reduce this risk, and allows better, more informed decisions. This course examines the various types of research that can be done, and then explores the processes involved.
What is a Product? This course begins be answering this question and then moves on to explore the important concepts of product life cycle, and new product development. It also examines the importance of design and packaging.
Service decisions are becoming more and more important as the service industry grows. This course provides key characteristics by which services can be recognized, and examines the reasons for their recent growth. It also provides an insight into the pricing of services.
Pricing Decisions are amongst the most difficult of business decisions. This course explores the ‘Three Cs’ of Costs, Customers and Competition. The terms ‘Cost orientation’ and ‘market orientation’ are examined as is the ‘systematic approach’.
This course provides an overview of the range of distribution options that are available. It then moves on to explore the selection and control of distribution channels, including sales force organisations and direct marketing.
Integrated Marketing Communications
Integrated Marketing Communications (IMC) is a method of ensuring that all forms of communication and messages are carefully linked together. This course examines IMC in terms of the benefits it brings, the barriers that must be overcome, and the rules that should be followed. It concludes by providing a ‘real-world’ case study.
After completing Marketing Essentials the user will be able to:
– List the five key characteristics of services
– List the criteria for evaluating the quality of services
– Identify the ‘Three Ps’ of the service mix
– Understand how and why service organisations expand beyond their core service
– Understand the price-quality relationship and how it integrates with the rest of the marketing mix
– List and explain major pricing objectives
– Differentiate between pricing strategies (penetration/skim; rapid/slow; regional/line) and identify the right strategy to suit a specific marketing objective
– Explain what the ‘Three Cs’ are and how they can affect pricing
– Understand three approaches to pricing: cost oriented; market oriented and systematic
– List a range of distribution options that are available
– Define the difference between vertical marketing systems and horizontal marketing systems
– Differentiate between intensive, selective and exclusive distribution strategies
– Describe a multi-channel distribution policy, using the example of Manchester United football club
– List the seven functions of a distributor and the three functions of an agent
– List the eleven tools in the communications mix
– Understand both the barriers to and the benefits of IMC
– Demonstrate an awareness of various communication models
– List three one-to-one communication tools and explain how they can be integrated
– Understand what two dimensional, three dimensional and four dimensional communication tools can do
– Discuss the historical development of Marketing
– Understand the underlying theory on which modern Marketing strategies and techniques are built
– Define what is meant by ‘Marketing’
– Comment on whether marketing is an art or a science
– Understand WHY the customer is at the centre of marketing
– Demonstrate how segmentation can reduce waste and increase profitability
– Understand what is required for effective segmentation
– Understand what is meant by the terms ‘targeting’ and ‘positioning’
– Identify the ‘Four Ps’ of the marketing mix
– Understand the reasons for planning and grasp the relationship between corporate and marketing planning.
– Conduct a full analysis of your organisational performance in your business environment.
– Differentiate between effective and ineffective objectives and understand what is meant by strategy.
– Develop tactics, action plans and controls.
– Identify the individual elements of the SOSTAC planning model
– Discuss the psychology of buying behaviour
– Illustrate how personal factors can influence this behaviour directly and indirectly
– Understand the differences between organisational buying and consumer buying
– Explain the difference between quantitative and qualitative research
– Differentiate between primary and secondary research
– Plan a marketing research program
– Understand the differences between consumer and organisational marketing research
– Identify a range of areas where I.T. affects marketing
– Identify the core, tangible and augmented layers of a product
– Understand that designing in quality is a long term strategic commitment that affects repeat business and profitability
– Appreciate the advantages and disadvantages of product line extension
– Demonstrate an understanding of models such as the Ansoff and Boston matrices