Module Introduction
Marketing
Marketing involves researching the market, understanding customer needs, developing a product or service that satisfies those needs, and then communicating the value of the product or service to customers through advertising, sales promotions, and other marketing channels. It also includes determining the right price for a product or service, selecting the most effective distribution channels to reach customers, and developing a brand identity that resonates with the target audience.
Effective marketing can help businesses increase their sales, build customer loyalty, and create a competitive advantage. It is an essential function for any organization looking to grow and succeed in today’s highly competitive marketplace.
This Module will provide you with a broad overview of the principles of marketing, including different marketing concepts such as the four Ps of marketing (Product, Price, Place, Promotion), consumer behavior, segmentation, targeting and positioning, branding, and market research.
Learning Objectives
Define marketing and its role in creating customer values and satisfying customer needs
Explain the importance of market research and segmentation
Identify the four components of the marketing mix and examine the importance of each
Define branding and explain its role in creating brand equity
