Understanding Strategic Marketing

Marketing is often mis-defined, but this lecture looks at the true meanings and types of marketing.

In this lecture we'll outline the whole course - everything you can expect to learn and why you need it.

The first thing you'll need to decide about your marketing strategy, is where your product design starts - are you product led or market led to your product innovation?

In this lecture you'll learn all about the Product Lifecycle, what it means for your marketing and how you can extend the profitable life of your offering.

In this lecture you'll learn what the Boston Matrix is and how it applies to your company. This tool will help you identify which of your products are bringing in large profits, and which ones should be scrapped.

What is Relative Market Share and why is it so important? This tool is a great way to translate your market share to a real life number and get a feel for your market.

In this lecture we look at how to use Porter's Five Forces analysis to identify threats to your market, and opportunities for the future.

Here we look at the PESTLE tool can help you safeguard against future environmental developments. Make sure you're not caught off guard by changes you didn't foresee.

Before we can measure our competiton we must first define them - harder than it sounds!

By analysing your competitors gives you opportunities to identify untapped markets, and avoid losing your market position to new threats. This lecture provides valuable structures for doing this.

In this lecture we compare Fragmented to Concentrated markets - the benefits and drawbacks of each, and how you know which type you're trading in.

Once you've worked out where you and your competitors sit right now, you need to start thinking about your goals. In this section we'll look at where your company and brands should be heading, then identify how to achieve that through effective marketing.

In this lecture you'll learn what the SWOT matrix is and how to apply it to real life examples.

When it comes to succeeding in marketing it's really important that you identify not just what you do well compared to your competitors, but which things really matter to the customer. This tool will give you exactly that.

Identifying your competitive advantage is a vital step in successful marketing. Once you know what your unique strength is you can build on it to grow your market share, brand recognition, and sales.

Identifying different customers, product groups, competitors and gaps can help you move into new profitable markets before anyone else. This lecture looks at how to segment your market, and mapping the product positions of all your competitors.

Using the Directional Policy Matrix, this section will look at assessing your relative strength in variously attractive markets. Are you missing out on some opportunities and wasting your time with accidental losses in others?

This simple, but age-old model, is a great way to think about your marketing mix. Are you investing in the right areas, and which area is holding you back from being a best seller?

In this section you'll learn how to price your product for maximum sales. Would putting your price up increase your revenues or lower them? And what makes your customers buy? This lecture will answer all your questions.

Next, let's sum up everything we've learnt. SWOT is a really great model for this as it covers all areas of your business both present and future.

In this final section we'll look at everything you need to know about product promotion. Who to target, how to reach them, how much to spend, and much much more.

Congratulations on completing the course, please now leave a review and continue with the workbook!