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 to communicate marketing decisions. This will enable you to see “marketing in action” in the business world.
You will be able to:
• Define all elements of the marketing mix and 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 Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.
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: Creating Value (Product)
Behind every successful brand is a strong product and effective product strategy. Products can be of different types and have different levels. Companies must make appropriate decisions regarding the product mix. This module will provide you with insights into all of these concepts and also introduce the different stages of the product life cycle.
Module 2: Delivering Value (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 3: Capturing Value (Pricing)
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 4: 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.