Marketing Essentials: Product and Price

Overview/Description
How do you know what kind of products and services you should be marketing? How do you develop successful products and services? How do you promote and sell them? In today’s highly competitive marketplace, these considerations are more important than ever. This course focuses on the answers to these questions and provides key insight into the importance of product and price within the modern marketing mix. The course then covers the product and development process, the concept of product differentiation in today's marketplace, and what this ultimately requires from marketing professionals and companies in order to be successful. This course also provides essential insight into the concept of product lifecycle with a focus on how product evolution can help meet ever-changing customer needs and help secure a company’s competitive advantage. Finally, the course introduces pricing, including how to approach product pricing and the factors that affect a product's price.

Target Audience
Anyone who wants to develop or refine their marketing skills

Expected Duration (hours)
1.0

Lesson Objectives

Marketing Essentials: Product and Price

recognize examples of several components of a product offering

identify the typical responsibilities of marketing in the context of the development of new products

make some marketing mix related decisions at several phases of the product lifecycle in a scenario

classify pricing objectives as being primarily financial or marketing objectives

recognize examples demonstrating the use of several pricing strategies

recognize examples demonstrating the use of several types of promotions