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Elements of Marketing Strategy

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• Description: You want to develop a powerful, and well-documented marketing strategy in order to get your new product or service approved. This course is designed to give you a strong start in developing your marketing vision, direction, and ultimately a plan. You'll get an overview of the key factors encompassing the broad scope of strategic marketing. You'll be able to discuss cost structures and their influence on your marketing strategy. The impact of product life cycles on your markets is another focus. Methodology to achieve or increase profitability is another featured section of this course. Apply the best thinking and research techniques to the development of a superior market strategy plan to gain the backing you need to be successful.
• Target audience: Managers and technical leaders who have the responsibility for developing a marketing plan.
• Estimated Duration: 3
• Lesson Objectives: Foundations of Marketing
  • recognize the elements of basic marketing terms and concepts to situations and problems in your own organization.
  • identify the main components of key marketing terms and concepts.
  • identify internal and external environmental factors critical to developing a marketing strategy.
  • specify the market factors that pave the way to market definition and segmentation.
  • identify the four "P's" of the marketing mix as they relate to the customer.
  Strategic Profitability
  • recognize the value of landmark research findings for business strategy.
  • identify the fundamental PIMS rules of business strategy and their implications for market planning.
  • specify the primary factors that influence profitability.
  • identify the elements of a method to determine what products should be pushed, maintained or phased out using profit potential factoring.
  Cost Drives Strategies
  • recognize the critical importance of cost structure in determining your market strategy.
  • differentiate three principle cost categories, what drives them, and what they drive.
  • summarize the cause and effect relationships between fixed costs and contribution margins.
  • specify how to determine the break-even point for a product.
  The Product Life Cycle
  • recognize the importance of determining current life cycle position of products.
  • identify the five stages of the Product Life Cycle.
  • identify methods of analyzing the product life cycle stage of a product or service.
  • identify elements of market forecasting that occur with cycle indicators, research, and projection tools.

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