Essentials of Marketing

Upon successful completion of this course, participants will be able to:

• Identify the different types of marketing strategies.
• Specify the requirements for a marketing strategy.
• Describe the ways in which sales can be increased within an existing market.
• Identify the contents of a user profile.
• Specify what causes an identified market segment to be abandoned.
• Identify the characteristics of brand equity.
• Recall how to manage requests for marketing research.
• Specify the sources of marketing data.
• Describe the contents of Maslow’s hierarchy of needs.
• Specify how to deal with different types of buyer behavior.
• Specify how to improve the rate of buyer acceptance of new products.
• Recall how purchasing decisions for business buyers differ from those for individuals.
• Recall the marketing issues associated with product lines.
• Specify when it is most necessary to use test marketing.
• Identify the process used to develop a product using target costing.
• Recall how strategic experiments are used in new product development.
• Recall the advantages and disadvantages of using different types of pricing methods, as well as how they are used.
• Specify the nature of revenue management tactics, and when they should be used.
• Identify the economics of using wholesalers and retailers in a distribution channel.
• Recall the nature of a horizontal channel.
• Specify the advantages and disadvantages of using channel partners.
• Identify the value proposition presented by a wholesaler.
• Recall the differences between omnichannel and multi-channel retailing systems.
• Specify the characteristics of the different types of stores and when each one should be used.
• Identify the situations in which shoppers prefer to shop in stores.
• Recall the success factors for a direct marketer.
• Specify the different types of advertising.
• Identify the advantages and disadvantages of advertising, public relations, and digital marketing.
• Recall the situations in which promotions should be used.
• Specify the characteristics of a guerrilla marketing campaign.
• Identify the direct causes of a change in revenue.
• Recall the types of sales and marketing budgeting formats that can be used.
• Specify the methods used to derive a budgeted advertising expenditure level.
• Identify how pacing applies to the sales function of a business.
• Recall the situations in which the various marketing metrics can be used, and how they are calculated.