Principles of Marketing

Course details

Marketing is not just selling or advertising. It is a rigorous, disciplined science that applies a reasoned framework to the selection of target markets and the optimization of marketing decisions. Market leadership necessitates sound knowledge of the marketing environment, targeted segments and marketing mix strategies and decisions.

This course provides participants with an introduction to the role of marketing and the process involved in developing a marketing plan for a new product.

Topics covered include marketing functions, product development, channels of distribution, market segmentation, pricing policies, product life cycle, and promotional activities.

Course Objectives

This course offers a balanced approach between practical and academic learning, studying and applying of basic marketing knowledge to help participants:

• Develop and use a marketing vocabulary
• Define and explain the evolution of the marketing concept
• Define and describe the four Ps of marketing
• Explain the basics of marketing planning and the marketing mix
• Apply practical applications of marketing to their lives
• Apply this knowledge to their chosen profession
• Submit papers/cases of their choice applying the marketing framework to the business of their own choice

Course Outline

Introduction to Marketing

• Business Orientation to Marketing
• The Evolution of the Marketing Definition
• The exchange process and its features
• Marketing Myopia

Marketing Planning and Research

• Marketing Plan framework
• The Marketing Research Process

Segmentation, Targeting and Positioning

• Segmentation Process and application
• Targeting & Positioning

Marketing Mix: Product

• The product element & the product life cycle
• Application of the product lifecycle on the 4P’s
• The Product Mix
• Managing Product Portfolio & the BCG Matrix
• Product growth strategies
• Managing new Product development

Marketing Mix: Price and Place

• The Pricing Process and Demand Curves
• Distribution strategies for Consumer Goods, Business Goods, and Services

Marketing Mix: Promotion

• The promotion element & setting promotional objectives
• The promotion Mix and its application on consumer goods and industrial goods