What are Marketing Fundamentals? Companies keep competing for the attention of their prospects after having created a product (goods or service) that they consider to be the best. This makes them introduce their products to the buyers in ways which not only create an impact on them but also stand out from the competition.
This requires companies to focus on marketing activities and their fundamentals. Marketing is at the core of any organisation and the consumer is the heartbeat. There will be no demand if there is no consumer – and of course no sales. It thus makes it important to understand the fundamentals of the market and how to develop and maintain a competitive advantage.
All this requires the effort and contribution of all the departments in an organisation. Many times, departments other than marketing or sales fail to appreciate the need to share the vision of the Marketing function leaving enough space for rifts and regular conflicts.
• Heads of Departments
• Account Managers
• Product Managers
• Product Support Team
• Customer Service Account Managers
• Service and Support Escalation Managers
• Finance and Legal Departments
• Client-facing Staff
To enhance the participants’ competency necessary to make them introduce their products to the buyers in ways which not only create an impact on them but also stand out from the competition.
By the end of the course, participants will be able to:
• Understand the difference between traditional and contemporary marketing
• View marketing as a coordinated and integrated effort of all the departments and functions of the organisation
• Develop a thorough understanding of the skill required to gain a competitive edge in today’s constantly changing environment
• Appreciate the environment- external or internal to the organisation which will result in enhancing Product or service quality.
• Evaluate data, information, and evidence to arrive at the marketing decisions.
• Manage conflicts amongst departments.
• Build and improve the marketing vocabulary of the participants in other departments.
• Develop an understanding of the ethical issues in marketing.
1. Introduction
• What is marketing? It’s relevance.
• The Art and Science of Marketing
• Defining the Marketing Process
• Customer Relationships
• Customer needs, wants & demands.
• Products, services & experiences
• Customer value & satisfaction
• Target customer
• Value proposition
• Customer loyalty & retention
• Market share & customer equity
2. Marketing Strategy
• what Marketing Strategy?
• What is Marketing Mix?
• What is Marketing analysis?
3. Marketplace & Consumers
• Marketing Environment
• Microenvironment
• Macro Environment
4. Marketing Information
• Marketing Intelligence
• How does research help?
5. Consumer Buyer Behavior
• Factors Impact Cultural, Social, Personal & Psychological factors
• Factors Impact Complex, Dissonance-reducing, Habitual & Variety-seeking Buying Behaviour
• Factors Impact Buyer decision process
• Factors Impact Adoption process & rate of adoption in new products
6. Business Buyer Behavior In:
• Business markets, Major types, Participants, Major influences
• Business buying process & over the internet
• Institutional & government markets
7. Customer-Driven Marketing Strategy & Marketing Mix
• Segmentation, Targeting & Positioning
• Segmenting markets
• Target segment
• Positioning maps & strategy
8. Products and Branding
• Product Services Classifications and Service Levels
• How are the products priced?
o Pricing products
o Pricing environment
o Internal & external factors
o Cost, value, and competition-based pricing
o New product pricing strategies
o Product mix pricing strategies
o Price adjusted strategies
o Price changes
• Marketing Channels
o How channels add value?
o Channel levels & behaviour
o Vertical & Horizontal marketing systems
o Multichannel distribution
o Channel objectives
o Selecting, managing, motivating and evaluating channel members
o Logistic management
o Channel pricing
• Branding
• Brand equity
• Managing brands
• Service marketing
9. New Product Development
• Idea generation & screening
• Concept development & testing
• Test marketing & analysis
• Commercialization
• Product life-cycle strategies
10. Communication and Advertising
• Communications Strategy
o Communications environment
o Integrated marketing communications
o Target audience
o Communication objective
o Message design
o Media selection & message source
o Communication & promotion mix
• What is Advertising? It’s relevance
o Sales promotion & PR
o Advertising strategy- It’s objectives, budget & evaluation
o Sales promotion objectives, tools & program
o Public relation tools & objectives
o Marketing Productivity Metrics (PAR & BAR)
o Total promotion budget
• Financial Projections & Marketing budget
11. Competition
• What is a competitive advantage?
o Identifying & assessing competitors
o Competitors to attack or avoid.
• What is Competitive intelligence?
o Strategies for Competition and Positioning
o Leader & challenger strategies
12. Digital Marketing
o Connecting via Digitalization (E-Business, E-Commerce, E-Marketing,B2C, B2B, C2C, C2B, Digital Customers, Online Buying, Behaviour, Viral Marketing, Online Advertising, Email Marketing
