Studying this subject will give you an understanding on how to conduct a situation analysis and determine a company's competitive advantage. You will gain a broad understanding of how marketing professionals develop and implement marketing strategies to meet the needs of their customers while achieving their business objectives. This course will explore issues including consumers, customer segmentation, products and services, pricing strategies and managing new technology.
This module explores customer segmentation, target consumers, products and services, and pricing strategies. The study material explores the difference between sales and market orientations. Additionally, you will learn the nature of strategic planning and why a marketing plan is important. An explanation is provided on how to set marketing plan objectives by focusing on markets served and benefits sought by its customers.
Lastly, you will learn about target market strategy and marketing mix. Product, place, promotion
and pricing are introduced, and implementation of the market strategy is explained. You will gain an understanding why market managers should recognize consumer behavior including the components of the consumer decision making process. Additionally, you will learn about the criteria for successful segmentation and bases for segmenting consumer markets, as well as the difference between a product item, product line and product mix.
After completing this subject, you will be able to develop sound marketing strategies through a S.W.O.T. analysis.
Studying this subject will mainly give you an opportunity to continuously consult your lecturer, an expert on the topic, about real problems, practical cases and situations, and to design a solution to these problems in the form of practically oriented case study (essay) elaborated under the lecturer’s guidance. As the consultations are not held in groups but only between you and the lecturer, you can consult also sensitive company issues, including specific data etc., without any worries about sharing this information with other students.
The output from this subject is thus a valuable document that can be immediately used in your own company or job, providing high value-added thanks to one-to-one consultations with an expert.
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