Building Your Business - Designing Your Marketing Strategy

Designing your marketing strategy: Identifying your target and applying the 4Ps (product, price, promotion, and place)

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Building Your Business - Designing Your Marketing Strategy

What You Will Learn!

Identify product or services
Identify your vision, mission and business goals
Identify target markets
Review the 4 P(product, price, place, and promotion)s of marketing
Design marketing methods

Description

In this course, you build a solid foundation for building a business. We first examine the importance of defining a product or service to differentiate it from competitors. Then you will look at crafting a clear mission and vision statement for your business. A well-crafted mission and vision statement can help businesses stay focused, guide decision-making, improve accountability, and ultimately, attain long-term growth. We examine how you plan to obtain your target markets and the 4 P(product, price, promotion, and places) of marketing. Knowing your target market enables you to develop effective marketing strategies that appeal to them and increase your chances of success. Product refers to the goods or services your business offers its customers. Price is the amount that customers pay for your product or service. Promotion includes all the activities and tactics you use to market your product or service to your target market. Finally, place or distribution refers to how your product reaches your target market. We look at each of these in more detail throughout the course. We also use case studies to apply their strategies to create success. This will allow you to practice applying them, so you can then apply them to real-life scenarios.