Product, Pricing, and Promotion in the Marketing Mix

Overview/Description
Target Audience
Prerequisites
Expected Duration
Lesson Objectives
Course Number
Expertise Level

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Overview/Description
The marketing mix is a collection of elements that uses advertising to satisfy customers' needs and meet business objectives. We all buy products – we read the advertisement and we check the competition. The company can advertise the product and then send it along the distribution channel. 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. You'll also learn about pricing, including how to approach product pricing. Finally, you'll learn about promotional techniques, including the importance of distribution and having a robust distribution model.

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

Prerequisites
None

Expected Duration (hours)
0.5

Lesson Objectives

Product, Pricing, and Promotion in the Marketing Mix

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

Course Number:
mkt_05_a03_bs_enus

Expertise Level
Everyone