In this Specialization we will delve into the marketing mix and the skill-set needed to implement successful marketing strategies. Join us and explore the four key concepts of the marketing mix model, also known as the 4Ps: Product (Brand and Product Management), Pricing, Place (Distribution Channel Strategy and Retail) and Promotion (Communication Strategies, PR and Advertising). This course primarily focuses on implementation so you can immediately apply the lessons learned to your work or to a business idea that you are thinking of taking to market. After completing the four courses, you will be able to take part in the Capstone Project where you will have the opportunity to put into practice what you have learned in this specialization by running a real product through the marketing mix.
Brand and Product Management
Identify the critical information needed to develop a product and brand strategy that generates both quick-wins and long-term value. By completing this course, you will be in position to create an activity plan to bring your brand strategy to life - both externally towards consumers and internally to employees. You will be able to define the right metrics for determining success in the implementation of your product and brand strategy, considering any adjustments that may need to be made under a test and learn methodology. Luis Rodriguez Baptista - a professor at IE University and Marekting Consultant - will guide you through six modules that look at first understanding the challenge of managing products through their 'life-cycle' and culminates with learning how to equip your employees with knowledge of how to deliver on your brand promise. The course features interviews with consumer and industry professionals, which help illustrate the importance of brand strategy. Brand and product management is a unique course which enables you to first understand the importance of brand and product management and then use brand development, architecture and portfolios, in order to achieve success.
Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life. Martin Boehm - IE Professor and Dean of the Business School with over 10 years experience - will guide you through four modules. We begin with the importance of pricing and how it ultimately can affect the bottom line. Then, we move on to methods to help you decide what is the optimal price for your product; and then price discrimination - should all your products follow the same pricing strategy or should you differentiate depending on the customer segment? Finally, we look at pricing psychology and how you can manipulate customers in order to drive the highest possible price for your product.
Channel Management and Retailing
Understand how channel management and retailing can improve performance in your business. Nowadays, a distribution strategy is part of the DNA of many companies and a correct channel management is key for the success of your product. Distribution plans need to be prepared for the long run, combining the following main areas: company profile, portfolio structure and price positioning, go-to-market policy, trade and retail marketing, e-commerce and global retail management. In the last decade, there have been two main revolutions that have affected industries, increasing the importance of Distribution Channel Management Profesor Maria Teresa Aranzabal guides you through: The IT revolution: considering developments in CRM, supply chain, planning tools, merchandise and reallocation systems, amongst others; and the retail focus: how a clear retail strategy can be a differentiator for companies and a strong weapon of competitiveness. In this course you will learn how to stay up-to-date on how companies are adding these aspects to their main strategic guidelines and making them key points in their managerial decision-making process. We use interviews with industry experts and give real-life examples of how to ensure your business makes the most of this vital area of marketing.
Integrated Marketing Communications: Advertising, Public Relations, Digital Marketing and more
Just how familiar are you with a marketing communication campaign? Learn more about this key pillar in the marketing mix and use it to give the push your product or service needs. Through this course you will understand the most important issues when planning and evaluating marketing communications strategies and executions. You'll be able to combine the appropriate theories and models with practical information to make better marketing communications decisions. After completing this course you'll be able to use integrated marketing communications (IMC) in the process of creating valuable brands and winning your consumers. IE Business School professor Eda Sayin will guide you through the process with the help of expert interviews from international marketing firms and will provide interesting real-life examples. After this course you will be equipped with the knowledge to ensure that you make the correct decision when it comes to communications and the placement of advertising and digital marketing.
Marketing Mix Implementation Capstone
After completing the four courses, you will be able to take part in the Capstone Project where you will have the opportunity to put into practice what you have learned in this specialization by running a real product through the marketing mix. Your analysis will focus on Tesla Motor's and the launch of their Model X automobile. After making decisions regarding each of the four P's in peer graded exercises, you will prepare a final presentation for the launch of the car.
No background knowledge is required to take and successfully complete this specialization.