Introduction to Marketing
This course will teach you all the required skills needed about Marketing in 12 modules.
Marketing is an exchange of value.Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others.
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.Conditions for exchange potential:
- There must be at least two parties.
- Each party has something of value to the other.
- Each party is capable of communication and delivery.
- Each party is free to accept or reject the exchange offer.
- Each party believes it is appropriate or desirable to deal with the other party.
Cost can be psychic, energy based, time based or monetary.Benefit can be emotional or functional.
Marketing as an organizational function cycle involves creating, communication and delivering products/services.It is important to involve the intended buyer as early as possible in the cycle.
Industry: A group of sellers.Market: A population of buyers.
The seller (industry) offers goods and services to the buyer (the market) for monetary gains.
Beyond the exchange of goods and services for money there needs to be communication to the seller from the buyer and information from the buyer to the seller.Where the seller and the buyer come together is also called the market.
Core Concepts in Marketing
- A sales orientated process focuses solely on production and selling of goods and services.A marketing process focuses on creating value, communicating value and delivering value.A market orientated organization is driven by sense, share and respond.Need: A state of deprevation.Marketers do not create need. Needs are pre-existing before the marketers.A customer is anyone who is interested in an offering (e.g. a product or service).Marketing as a process should start from the analysis of the customer, the company and the competitor.Marketing strategies should be based on market insights.Segmentation: Identification and segregation of similar groups in a varied population.Targeting: Selection of most attractive segment based on deduced criteria.Positioning: Occupying a clear and distinctive place in the target group.The four P’s of the marketing mix are product, price, place and promotion.
- Case Studies
- Honda Activa was one of the top selling 2-wheelers on the Indian Market. It’s ingredients for success included:
- Attractive to both male and female.
- Easy handling.
- Fuel economy.
- Smaller size than motorcycle.
- Storage space.
- Anti-theft locking.
- Competitive pricing.
- Honda Service Network.
- The Tato Nano car was termed as a people’s car and was designed to be made available to the masses in developing countries like India.Failure – Being termed as the cheapest car became the company’s own problem. Positioning for the car was incorrect in the market.
Practice makes perfect
We know about your hectic schedule. We also know the only way you truly understand a subject is by practicing it in a real environment. This is why we’ve set a playground area that’s full of hours of exercises, questions and challenges. It even has a gaming section.
The best campus facilities
In addition to our online classroom, we also offer an option to take part in a live classroom. It takes place in our vast campus located in Westfield, London. Here you’ll be able to use the most up-to-date facilities and computer equipment.
Learn from the very best
Join our course and start building the most wanted career available today. We make sure every class is easily understood, and that all students reach the same level of expertise needed for today’s hi-tech industry.