Decision making in marketing is first and foremost a skill. Like all skills, it is best learned through practice. The course emphasizes a managerial rather than a descriptive approach and, therefore, participants are presumed to have some prerequisite knowledge of the discipline. The course reviews the marketing concept and then elaborates on a systematic management approach to implementing the concept.
Topics covered include:-
- -Marketing Decision Making
- -The Big Picture (Business Planning, The Marketing Plan Business Planning
- -Managing Strategy (The Marketing Plan, Segmentation and Target Analysis, Developing a Value Proposition and Positioning, Managing Revenues, Cost and Profits, Managing Business Markets
- -Points-of-parity (POPs) and Points-of-difference (PODs) - the challenge of effective brand positioning
- -Managing Tactics (Managing Products, Services, Brands, Price, Incentives, Communications, Distribution
- -Managing Growth (Managing New Products, Managing Product Lines, Gaining and Defending Market Position, Managing Sales Growth).
PREREQUISITE: Fundamentals of Marketing [MKM110], or equivalent.