This free online course is designed by Mark Meyerson. His time in the marketing industry has revealed that many seasoned marketing practitioners do not have a thorough understanding of marketing strategy and what it is. Even if you have been working for a long time in this industry, there is a lot to learn from this course. You will begin your journey to understanding marketing strategy with an explanation of the concept of first principles. This is a concept most deep thinkers and famous people have used and proposed. Elon Musk’s explanation of the first principle on YouTube will be highlighted. Also, you will come to understand strategy, what it is, what it isn’t, and how to implement it to set you apart from 80 to 90% of marketers out there today. An analogy of planning a military campaign will be used to explain more concepts of marketing strategy. The differences between strategy and tactics will also be examined. Thereafter you will learn about price, place, product, and promotions; the core principles of marketing. They are also known as the 4P’s of marketing. The six powers of persuasion or techniques proposed by Robert Cialdini in his book “Influence” will be critically analyzed.
Next, you will be introduced to the research components in marketing. This section is divided into two subsections. In the first part, you will learn about customer profiles. These customer profiles will be examined from the point of view of customer demographics as well as customer psychographics. With a hypothetical example of a travelling insurance company to help you understand the importance of defining customer profiles, you will be trained on how to create a customer profile using three distinct people. In the second section of the market research components, you will study all the tools that you can use to conduct market research. This in itself is divided into three categories of marketing tools. The first is industry tools and these are all third-party tools that contain data that you can only get outside your own profile. Six types of these third-party tools will be discussed. The second involves competitor research tools. These are also third-party tools but related to competitor research and include sites like Facebook and LinkedIn page transparency, keyword data sites, and email marketing. The third category of the marketing research tool deals with owned profiles or properties. The processes of leveraging an existing tool to find information or data around your existing customers and how you can use that data to get a better understanding of who your target audience should be will be the main focus for this section.
Furthermore, you will be introduced to marketing model frameworks and their importance. You will learn about the AIDA, A.R.E, A.A.R.R.R models as well as their respective stages. Each of these marketing models will be compared with the 4 P’s of marketing. Then, you will study the experimentation model, also known as the test and learn strategy. The measurability of online campaigns and why testing is important in modern-day marketing strategy will be examined. Also, you will be taught how to build a feedback loop and test the 4 P’s. Testing tools such as paid advertising platforms and landing page software will be recommended. Thereafter, The anatomy and framework of the growth loops will be discussed, the five stages in growth loops and how it is used to generate growth will also be explained. Lastly, you will see some key modern-day marketing personalities or gurus, how they interact and how their tools defer from some of the marketing frameworks. Some key takeaways and criticisms of these gurus will be analyzed. This course is designed for people beginning their careers in digital marketing and also season practitioners. Start this course today and learn amazing skills in marketing strategy.
After completing this course, you will be able to:
- Explain the first principles of marketing
- Identify the six powers of persuasion, what each one means, and how marketers can use them efficiently
- Discuss customer profiles from the point of view of customer demographics and psychographics
- List the various marketing tools that you can use to conduct market research
- Distinguish between marketing-driven and market-driven
- Outline the process of conducting needs-based segmentation
- Discuss marketing models, why they are important and how they fit into marketing strategy
- Describe the anatomy and framework of growth loops