Join Drew Boyd for an in-depth discussion in this video Integrating all four Ps, part of Marketing Foundations.
…The four Ps of marketing is an old and classic idea, but still very relevant.…The mistake you can make is to not have all of them work together.…You need to create marketing programs that are in sync with each other and…support the overall positioning described in your strategy.…It may seem obvious, but it can be more challenging than you think.…Look at this example and see if you can spot what's wrong.…Imagine your strategic positioning is to be the elite watch maker for…the medium priced luxury watch market.…
Your goal is to appeal to consumers who want to make a statement that…they've achieved.…Your product is a gold watch with Swiss movements and fine, sophisticated design.…Your price point is $4,000.…You promote the watch in premium magazines like Smithsonian,…and then you sell the watch in thousands of discount department and drug stores.…Do you see what's wrong here?…Of course, it's the channel design that is completely inconsistent with…the positioning.…
Selling such an expensive watch right next to a $30 watch sends the wrong signal.…
You'll also learn to address tactical challenges and present the plan to get buy-in throughout an organization, from the C-suite to the sales team, as well as use the marketing plan to guide outside agencies and vendors. Finally, you'll learn how to launch the campaign and measure its performance.
- Marketing in an organization
- Assembling the team
- Creating the marketing plan
- Analyzing your products, customers, and market
- Segmenting customers
- Creating a value proposition
- Developing a strategy
- Setting goals
- Setting prices
- Using social media
- Presenting your plan to leadership
- Budgeting your plan
- Measuring success
Skill Level Beginner
Business Writing Principleswith Judy Steiner-Williams1h 32m Beginner
Understanding Marketing's Role
Analyzing Your Business
Developing Your Strategy
Developing the Tactical Phase
Aligning the Organization
Launching and Measuring Your Plan
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