Marketing: Formulating a Marketing Plan
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Skills covered in this course
Description
Description: This course develops high-level mastery in marketing skills and professional conduct required for market planning in diverse marketing contexts using: Segmentation, Value Proposition and Target Market; Product Life Cycle and Product Strategy; Segmentation and Targeting; Positioning Market Offering; Pricing Products for the Market; Channels and Distribution; Promotion and Brand Advertising; Direct Marketing; Business Development and Customer Relationship Marketing (CRM)
Background: The following section focuses on formulating the marketing plan.
The section includes:
• Segmentation, Value Proposition and Target Market
• Product Life Cycle and building a product strategy
• Segmentation and targeting– Geography, Consumer Behaviour and Cultures
• Positioning your market offering
• Pricing your product for the market
• Channels and Distribution
• Promotion and Brand Advertising
• Business development and Customer relationship marketing (CRM)
Each of these functions are essential to formulating an effective marketing plan. The marketing mix has many acronyms but the 4 P’s and extended marketing mix 7 P’s seem to be the most common. In recent times, marketing has evolved these functions have evolved to include digital marketing and channels and customer relationship management.
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