Marketing Principles Course
This course explores the four original principles of marketing referred to as 4Ps or 4P marketing Matrix that companies use for their marketing strategy. Learners will gain knowledge and skills of these four basic marketing principles, namely Product, Price, Place, and Promotion; and how they are interconnected and work together as the Marketing Mix, in driving business financial goals and success. The course is great for career marketing and sales staff as well as business people.
Completing this course will help in:
Who is the course for?
Individuals in the sales, marketing and customer services field of business require the skills, values and knowledge imparted by this course. The course participants will be able to employ the marketing techniques during the course of their work in a marketing role, customer service and customer care position from entry to middle levels within an organisation.
The concept of a market is described, including the four P’s of marketing.
The four P’s of marketing include Price, Promotion, Place and Product.
A market is described in relation to supply, demand and pricing, utilising examples.
The importance of the value addition of a proposed business in relation is explained in relation to the market.
Factors that influence markets are explained in the context of proposed business venture.
Factors that influence markets include but are not limited to the South African economy, trends and developments within the particular new venture industrial context, competition, location, timing.
Differentiation between product and service marketing are identified and explained with examples.
Market segmentation includes but is not limited to specific projects, geographical location, income brackets, age, gender, ethnicity, community.
The concept of market segmentation is explained with examples.
The concept of competition is explained in relation to the marketing function.
The importance of market research is explained in relation to the proposed new venture.
Market research techniques are identified and explained in the context of the proposed new venture.
Market research techniques include but are not limited to formal and informal research including basic questionnaires, community research, intelligence gathering exercises.
Market research tools are identified and utilised to determine the viability of the new venture.
Market research is conducted and factual information is gathered and interpreted in relation to own business.
Own product/service requirements are analysed in relation to the identified target market.
Customers are segmented according to business goals.
The competition to new venture opportunity is identified and analysed to determine the threats they may present.
The changes that may be required to increase the competitiveness of new venture are identified and explained in accordance with competitor analysis and market research.
The elements of a marketing plan are outlined and described according to own business context.
New venture opportunity is analysed and marketing plan compiled in accordance with the Four P’s of marketing.
Measurement tools to evaluate the success of the marketing plan are identified and included in the plan.
Action goals are outlined and implemented, with timeframes.
Reasons and methods for evaluating and modifying marketing plan are explained and implemented in the context of market research results.
The marketing plan is integrated into business
The concept of a product/service life cycle is explained with examples.
Growth opportunities for the new venture are identified and explained with typical examples of how this can be achieved.
Trends and developments in relation to product/service are monitored and the product/service life cycle is determined accordingly.
Plans are made to ensure that the business venture is aligned to the product/service life cycle.