Upon successful completion of this micro-course, you will be able to:
- Apply marketing concepts and processes to develop a rationale for an optimal marketing mix of a product or service, taking market segments, positioning and product life cycle into account.
To support you in your progress towards achieving the learning outcome described above, each learning pathway in this course has its own set of learning objectives:
- Create the relevant website accounts you need to engage in the OERu learning experience.
- Test drive the technologies by completing short activities using these tools.
- Marketing products and services
- Define marketing and outline its components
- Explain key marketing concepts and terminology
- Examine the role that marketing plays in society and in different types of organisation
- Optimising the marketing mix (the ‘4Ps’)
- Analyse the “4Ps” of marketing, i.e. product, price, place and promotion
- Describe the stages of the product life cycle
- Outline the controllable and uncontrollable factors that can influence marketing strategy
- Identify an appropriate marketing mix for a particular product or service
- Market segmentation, target markets and product positioning
- Define aspects of a segmentation, targeting and positioning strategy
- Apply principles of market segmentation to segment a broad market into distinct customer segments
- Identify needs, behaviours and characteristics of different target markets
- Explain why products are positioned differently