Overview/Description
This course will walk you through four crucial elements of analyzing your market. First, you'll learn to scan your environment, considering the economical, technological, social, and political impacts on your organization. Then you'll learn how market segmentation can assist you in developing products and marketing strategies. You'll be given a set of tools that can be utilized for developing and keeping your plans on track, and you'll become familiar with forecasting options that can provide you with the valuable information you need to make smart decisions.
recognize the environmental factors that potentially impact your firm's goods or services.
identify the four stages of the economic business cycle.
identify the impact of the technological environment.
identify the political-legal environment.
identify characteristics of the social-cultural environment.
Marketing Segmentation
recognize the value of segmenting your market using geographic, demographic, and psychographic criteria.
define effective segmentation.
identify the geographic basis for segmenting a market.
identify the elements of demographic segmentation.
identify the psychographic basis for segmenting a market.
Tools for Marketing Planning
recognize the benefits of using a marketing audit, market growth matrix, market attractiveness matrix, and spreadsheets in evaluating and developing a marketing plan.
identify the objectives of the marketing audit.
identify terms and characteristics associated with the market share/market growth matrix.
identify the market attractiveness matrix.
Forecasting
define forecasting and the most common mistakes to avoid, and identify the most common types of qualitative and quantitative forecasting techniques and the processes that utilize those techniques.
identify elements and dangers of forecasting.
identify the elements of qualitative forecasting.
identify elements of quantitative forecasting techniques.
identify the elements of top-down and bottom-up forecasting.