In this course, you will further examine how businesses create value for customers. In Marketing Management I, you learned the major elements of the marketing mix - product policy, channels of distribution, communication, and pricing - and saw how they fit within different analytical frameworks that are useful to managers. In this course, you will complete a more detailed analysis of these elements in order to conduct a thorough strategic analysis of marketing opportunities and communicate marketing decisions. This will enable you to see “marketing in action” in the business world.
Upon successful completion of this course, you will be able to:
• List all elements of the marketing mix
• Explain the role each element plays in creating value
• Compare different pricing models
• Evaluate the use of different channels of distribution by existing businesses
• Critique advertising execution
• Create a persuasive advertising piece
This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
-You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.
Module 1: Distribution (Place)
-In this module, you will learn what is meant by the term distribution and its importance for companies. We will explore the different channel strategies and channel decisions that marketers need to make based on the product or service they are offering.
Module 2: Pricing Strategy (Price)
-An important element of the 4 Ps is Pricing. While all the other Ps focus on creating value, pricing helps companies to extract the value created. In this module, you will learn about pricing in marketing and the different considerations and steps involved in the pricing process.
Module 3: Marketing Communication (Promotion)
-A strong brand allows companies to distinguish themselves from their competitors in their target market. To build a strong brand, marketers need to ensure that their messages to consumers are clear and consistent. In this module, we will learn how Integrated Marketing Communications (IMC) help companies achieve this objective.
Module 4: Consumer Behavior
-In this module, we will study the meaning of consumer behavior and the factors that influence it. We will explore the various factors that impact consumer perception of a product, and those that affect the adoption of a new product. We will also learn about the different variables that influence consumer buying behavior.