Principles of Marketing's Full Profile
Marketing is an understanding of how to communicate with the consumer. It includes four activities:Creating products and services that serve consumers;Communicating a clear value proposition;Delivering products and services in a way that optimizes value;Exchanging, or trading, value for those offerings.Many people incorrectly believe that marketing and advertising are the same thing. In reality, advertising is but one of the many tools used in marketing, which is the process by which firms determine which products to offer, how to price those products, and to whom the products should be made available.In this course, you will learn about the marketing process and examine the range of marketing decisions that an organization must make in order to sell its products and services.You will also learn how to think like a marketer, discovering that the focus of marketing has always been on the customer. You will begin to intuitively ask: what does the customer need? What does the customer want? Who is this customer?We will also explore the various ways in which marketing departments and independent agencies answer these questions – whether through research, analysis, or even trial-and-error. Once a company identifies its customer and product, marketers must then determine the best way to capture the customer’s attention. Capturing the customer’s attention may entail undercutting competitors on price, aggressively marketing a product with promotions and advertising (as with “As Seen On TV” ads), or specifically targeting ideal customers (as with custom yacht building). The strategy a marketing firm chooses for a particular product is absolutely vital to the success of the product. The idea that “great products sell themselves” is simply not true. By the end of this course, you will be familiar with the art and science of marketing a product.
Days of the Week:
Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday
- Level of Difficulty: All Levels
- Size: One-on-One
- Cost: Free
- Institution: Saylor
- Topics: General Art, Marketing
The mission of the Saylor Foundation is to make education freely available to all. Guided by the belief that technology has the potential to circumvent barriers that prevent many individuals from participating in traditional schooling models, the Foundation is committed to developing and advancing inventive and effective ways of harnessing technology in order to drive the cost of education down to zero
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