Foundations of Marketing: How to Plan Your Marketing Policy
3.7 (8 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
18 students enrolled

Foundations of Marketing: How to Plan Your Marketing Policy

The 4P of Marketing
3.7 (8 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
18 students enrolled
Last updated 1/2018
English
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This course includes
  • 3.5 hours on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Formulate coherent marketing policy.
Requirements
  • No prior knowledge is required.
Description

Hello and welcome to this course on Marketing Policy!

The management guru Peter Drucker once said there are only two functions or departments in a company that earn money – every other function or department just costs money. The two functions that earn money are Innovation and Marketing.

Innovation brings new products and services to birth. And Marketing brings them to the customers which will result in revenues and profits.

So it is absolutely essential to get the basics of marketing if you want customers to buy your products and services.

In this course, we will give you a solid introduction to marketing and marketing policy, the so-called 4P which are: product, price, promotion, and placement policy. Marketing policy means which strategic and tactical decisions to make in four major realms of marketing.

Many beginners in marketing think that they have to know how to write posts for Facebook or other social media channels. However, all this is worthless if you don’t understand the basic mechanisms and methods of marketing. And this is what this course is about.

The introduction to marketing covers the definition of marketing, the role of the market in marketing, how markets are structured, how to get to the customer and how customers make buying decisions.

We then move to the 4P approach and start with product policy. You’re going to learn the differences between products and services, the difference between products and brands and the difference between brands and private labels. We will take a close look at the product development process and the so-called product life cycle.

The second P stands for price policy. This is a very underestimated part in marketing. But it’s actually one of the most important ones, as the level of process directly influences the level of revenue. It makes a huge difference if you sell 1,000 pieces for 1 or for 2 Dollars or Euros. Therefore, we will cover the price policy determinants, intelligent price strategies, price tactics, pricing methods, and price discounts. You need to know these in order to make good decisions when it comes to pricing your products or services.

The third P stands for promotion policy. And most beginners in marketing think this is all marketing is about. In this section of the course, we will deal with the promotion process, and how to write a promotion plan. You will also learn which promotion instruments there are.

Finally, the last P stands for placement policy. This is how you distribute goods to the customer. You’re about to learn the structural channel dimensions, the social channel dimensions, the physical distribution mix, and virtual distribution.

You see, marketing is much more than posting on Facebook or running Google Analytics. Before you do these things, we think it is important to have a solid foundation to build on. It’s not only important HOW to do things, but also to know WHY to do things.

 Let’s get started – see you in the course!

Who this course is for:
  • Students who want to learn the basics of marketing.
Course content
Expand all 25 lectures 03:21:21
+ Introduction to Marketing
5 lectures 36:40
The Market in Marketing
10:01
Market Structures
04:33
Getting the Customer
03:44
The Consumer Decision Process
13:16
+ Product Policy
4 lectures 39:16
Introduction to Product Policy
09:50
Products vs. Services
10:19
Product vs. Private Labels
08:40
The Product Life Cycle (PLC)
10:27
+ Price Policy
6 lectures 39:15
Introduction to Price Policy
08:45
Price Policy Determinants
04:35
Price Strategies
08:42
Price Tactics
03:26
Pricing Methods
07:33
Price Discounts
06:14
+ Promotion Policy
4 lectures 39:34
Introduction to Promotion Policy
07:35
The Promotion Process
06:14
Promotion Planning
11:25
Promotion Instruments
14:20
+ Placement Policy
5 lectures 39:47
Introduction to Placement Policy
07:50
Structural Channel Dimensions
09:07
Social Channel Dimensions
05:01
Physical Distribution Mix
07:13
Virtual Distribution
10:36