In this lesson, we will introduce you to the activities that comprise a firm’s marketing program. These activities are popularly referred to as the 4 Ps – product, price, place and promotion. After you work out this lesson, you should be able to:

  • Understand the major product decisions in marketing planning
  • Know the pricing objectives and the factors that influence the pricing decisions
  • Appreciate the role of marketing channels and understand the important channel decisions to be taken
  • Comprehend the Promotion Mix of marketing and the different elements in the promotion mix
  • Learn how the 4 Ps combine to create effective marketing programs

In this lesson, we will introduce you to the activities, viz., segmentation, targeting and positioning, that are collectively referred to as marketing strategy. After you work out this lesson, you should be able to:

  • Segment the markets based on several segmentation variables
  • Target a segment by identifying the fit between segment profitability and organizational capability
  • Position your product/service so that it occupies a distinct and valued place in the target customers’ minds

In this lesson, we will introduce you to the process through which the ultimate buyer makes purchase decisions. After you work out this lesson, you should be able to:

  • Identify what stimulates a consumer to consider buying
  • Describe the buyer’s decision making process and the several factors which influence this decision
  • Understand the response of the buyer to the marketing and other stimuli

In this lesson, we will introduce you to the forces that define marketing’s external environment. After you work out this lesson, you should be able to:

  • Identify, analyze and monitor external forces and assess their potential impacts on the firm’s goods and services
  • Understand how marketers formulate their strategy within the frame of reference provided by the forces in the external environment

In this lesson, we will discuss the following:

Objectives of Marketing Process

In this lesson, we will introduce you to the activities that makeup the marketing process. After you work out this lesson, you should be able to:

  • Identify the parts of the marketing process
  • Understand the relationships among the parts of the marketing process
  • Explain how the marketing process creates, captures and sustains value for the customer

Subcategories

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