Marketing Mix (Byte Size Skills Course)

Product Description

Marketing Mix Course The purpose of this course is to develop understanding of the marketing mix. The marketing mix is comprised of the tools available to a marketer in order to optimise the return from the exchange of value with customers & consumers. It does not relate simply to the elements of a product or service - rather it identifies all the variables over which a marketer has control. This course will examine in depth the different components of the marketing mix & will discuss the way in which these components are controlled & adjusted to make a product or service more competitive. The course will then proceed with an analysis of each of the key variables of the mix. A product is defined & analysed in terms of a series of levels. Products, including goods & services, are classified for ease in understanding. every single product has a life cycle, & this is evaluated in terms of its importance to marketing managers. The way in which the market adopts a new product is evaluated. Pricing strategies & tactics are considered in Section 3, including the many factors that affect the price placed on a product or service. The way in which products are made available to customers is by distribution & this is introduced as an important part of customer service. An overview of this important concept is studied in terms of the level of customer service offered, alongside the different methods of distribution. Promotion, which covers the communication between an organisation & its target audiences, is put into context The physical surroundings in which a service is delivered or a product sold are also considered, along with the people involved in the process of ensuring customer & consumer satisfaction. These must all be brought together to provide a seamless & positive support to every transaction. This course deals with the components of the marketing mix & looks at ways in which they can be managed to optimise return on investment. By the end of this course you will be able to: identify the components of the marketing mix in the marketing of a product or service identify ways in which the variables of the mix can be used to the mutual benefit of the organisation & its clients select the appropriate marketing strategy for a product identify the benefits provided to the consumer by a product identify the characteristics of a service & use these to assess the benefits provided by a service use the product life cycle concept as a guide to marketing understanding select the appropriate marketing mix strategy for a product offering at different stages of its life cycle identify pricing strategies used to make products & services more attractive.