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Introduction to Marketing

An effective and easy step-by-step way to understand the basic concepts and principles of Marketing.
Instructor:
Lawrence Milston
64 students enrolled
English [Auto-generated]
Understand the basic concepts of Marketing, and apply them to a practical business scenario

Introduction to Marketing is for people who have little or no knowledge of marketing. You may be a student having a little difficulty understanding the subject; you may be planning your own business, and need to get a head-start in the basics of marketing; or you may already be in business and want a few tips on how to improve your marketing.

Whatever the case, this course has been designed to take any mystery out of the subject and make it easy for anyone to follow and understand the basic concepts and principles.

In this course, we take away the “padding” and focus on the key points that you need to know. With this information, you will definitely have a good working knowledge of the basics of marketing and be able to put them into practice in a business scenario.

Introduction

1
What is Marketing?

We start with an introduction to the basic concepts of marketing

2
Primary Goals

Every business needs goals. The type of goals will depend on the type of business, but here we examine some of the more common ones.

3
Consumer Behaviour

People are individuals, and we all have individual needs and motives. This is something that all good marketers recognise and build into their marketing programs. 

The Marketing Mix

1
The Marketing Mix

The Marketing Mix is at the heart of all marketing activities. It is essential to understand how elements such as Product, Price, Place and Promotion all interact and work together to enable successful businesses achieve their goals

2
The Marketing Mix - Product

Product is the first element in the marketing mix. Here we examine the various characteristics of products and introduce the concept of the Product Life Cycle

3
The Marketing Mix - Price

Price is a value....the amount that a seller charges for a product and the amount that a buyer is willing to pay. Setting prices is like a balancing act....charge too low and it will affect your profits; charge too high and you may drive your customers away. In this lecture, we look at several methods used to set prices.

4
The Marketing Mix - Place

Another word for Place, is Distribution. This part of the marketing mix relates to making your product accessible and easy for consumers to buy.

5
The Marketing Mix - Promotion

This is the forth element in the marketing mix. Even if Product, Price & Place are all good, your must reach out to your potential customers, and give them reasons why they should buy your product rather than others. In this lecture, we look at the various methods available to companies to promote their brand and products.

6
The Marketing Mix - 3 More P's

There are three more "Ps" that are often included in the Marketing Mix these days...People, Physical and Process. Together with the foregoing elements, that makes a total of 7 Ps. We look briefly at these three additional Ps in the lecture.

Marketing Planning

1
Marketing Research

Marketing Research is possibly the most important activity in Marketing. Successful businesses know exactly who their customers are, what they want, how to service their needs, who are the main competitors, what are they doing, etc, etc. Businesses that are not in tune with the market, are the first to fail.

2
Market Segmentation

Market Segmentation is about dividing consumers into groups (which we call segments). The purpose of this is to focus more easily and in a cost effective way, on those consumers most likely to be your potential customers. There are several ways to segment a market, and we examine them in this lecture.

3
Internal Assessment

One part of marketing planning is to look inwards to the business to identify strengths or weaknesses compared to competitive products. From these will come new marketing opportunities to make inroads and build market share. 

4
External Assessment

Looking outwards to identify any external forces that may have an impact on the business is also an extremely important activity. The acronym PEST stands for Political, Economic, Socio-cultural, and Technological. Here we look at how changes in any of these areas (eg, a downturn in the economy) may need to be factored in when planning ahead.

5
Setting Objectives and Strategies

Every business needs objectives to aim for. Without them, a business can lose its way. Objectives are the specific aims of the business, eg, getting from A to B. Strategies tell you how to get there....the various actions that will help you achieve those objectives.

6
The Marketing Budget

The Marketing Budget is a forecast of expected expenses to be incurred for the various marketing activities of he business. It forms part of the overall Marketing Plan, and is prepared for a year ahead and broken down monthly so that actual results can be compared with forecasts.

7
The Marketing Plan

In this lecture, we bring together the different marketing activities, that together form the overall Marketing Plan.

Marketing in the Digital Age

1
Digital Marketing

In this day and age, IT comes into most areas of business, including Marketing. Digital Marketing has changed the way marketing is conducted, particularly in such areas as video-conferencing, instant email quotes, confirmation of orders, and many other ways.

2
Globalisation

The world is "one big market-place" thanks to advances in IT and ease of international travel, There are things to watch out for when dealing with multi-cultural markets, and here we look at some of the important ones.

Conclusion & Recap

1
Recap of Key Points

As the title suggests, this is a recap of the main points covered in each lecture.

You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
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