Product, Pricing, and Promotion in the Marketing Mix
Anyone who wants to develop or refine their marketing skills.
In today’s highly competitive marketplace, it’s more important than ever to know how to develop, promote, and sell successful products and services. The marketing mix is a collection of elements used to satisfy customers’ needs and meet business objectives. In this course, you’ll learn about a few elements of the marketing mix: product, price, and promotion. You’ll learn how marketing is involved in developing new products and about the stages of the product life cycle and their goals. You’ll also learn about pricing, including how to approach product pricing and the factors that affect a product’s price. Finally, you’ll learn about promotional techniques, including traditional and online marketing.
Understanding Product, Price, and Promotion
- identify the typical roles of marketing in the development of new products
- match the stages of the product life cycle to their goals
- classify pricing objectives as being financial or marketing objectives
- match pricing strategies to their definitions
- recognize examples of different pricing promotions
- match promotional techniques with their descriptions
- match characteristics of marketing communication campaigns to either traditional or online media
- recognize the roles of product, price, and promotion in the marketing mix