In this course, you will learn how businesses create value for customers. We will examine the process by which Marketing builds on a thorough understanding of buyer behavior to create value. You will learn the major elements of the marketing mix - product policy, channels of distribution, communication, and pricing - and see how they fit within different analytical frameworks that are useful to managers. This will enhance your understanding of how marketing works in the business world.
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Upon successful completion of this course, you will be able to:
• Define marketing and describe how marketing creates value
• Describe the elements of the marketing mix
• Explain how these elements interact to create value for consumers
• Use different analytical frameworks to examine how managers solve business problems
• Evaluate brand extensions
• Develop a marketing Plan proposal
Course 5 of 7 in the Value Chain Management Specialization.
Syllabus
WEEK 1
Course Orientation
You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Marketing Strategy
In this module, you will learn to define "marketing." We will explore consumer needs and see how marketing plays a role in value creation through researching and satisfying of these customer needs.
WEEK 2
Segmentation Targeting Positioning
An important element of the marketing process is the value creation stage. Value creation begins with the process of STP. In this module, you will learn about segmentation, targeting, and positioning and what it accomplishes in the value creation stage.
WEEK 3
Branding
Effective branding strategy allows companies to distinguish themselves from their competitors in the market. In this module, we will learn how to build a strong brand, explore how brand equity affects profitability, and understand how strong brands can leverage their equity to create successful extensions.
WEEK 4
Product Strategy
Behind every successful brand is a strong product and effective product strategy. Products can be of different types and have different levels. Companies must make appropriate decisions regarding the product mix. This module will provide you with insights into all of these concepts and also introduce the different stages of the product life cycle.
