Marketing Strategy for Entrepreneurs

Start Date: 07/05/2020

Course Type: Common Course

Course Link: https://www.coursera.org/learn/marketing-strategy-entrepreneurs

About Course

You live a hands-on-life, and you intend continuing doing so! That is why I guess you already have checked where the QR-code (the logo) for this course lead to, right? And it is in such kind of setting you prefer hands-on-learning. Things you can do, already today, is something you value. You actually did not start this course when enrolling it. You started it long ago, Either as a customer somewhere, or just maybe thinking about marketing for some time. Or maybe you are already working on marketing, of you yourself or maybe your own company. Or as employed somewhere of course. In all these situations what matter is action. Action that contribute to your marketing-journey. This is the reason why we will start of with a situation “as if” you were starting up the sales process in a company where no previous customers existed (and maybe you are, if so...use it during the course). Gradually your sales efforts give result, you get customers and handling the market expansion becomes important. If somewhat lucky, in practice that is the way it goes. The course begins with the art of cold calling (attacking the ones that did not know you did exist. The most tricky ones) and analyzing the potential customers, then gradually moves over to segmentation, positioning, closing the deal, competition, marketing strategy and market expansion. It is normally in that order it develops in practice. The curriculum includes general basic marketing theories as well modern digital marketing issues like onboarding, conversion, and retention, experimental marketing and pivoting. The course includes a number of assignments to facilitate your learning – some of them compulsory. All of them hopefully practically useful for you already today. On one hand this is a basics course. There is far more in this than we are able to cover here. But I still think this course will prepare you for some of the most common marketing and sales efforts needed for technology based companies. Later on I guess you will learn more. Maybe here or somewhere else. Hope you enjoy it. Good learning have to be fun. So if the course is not fun enough for you: Please let me know!

Coursera Plus banner featuring three learners and university partner logos

Course Introduction

Marketing Strategy for Entrepreneurs Marketing is critical to the success of all businesses. Whether you are a business owner, a manager, a consumer, or a teacher, you must think strategically about marketing strategies for your business. This course covers the different parts of marketing, such as brand strategy, customer insight, and pricing strategy, and the elements of marketing strategy that are critical to success. In addition, students will learn how to use marketing to gain market share, improve sales, and improve profitability. This course is the third in a five-course specialization.Learn how to Market Yourselves Brand Your Brand Determine Brand Identity Get Ahead of the Curve Marketing Analysis: Margin/Deferral In this course you will learn what margin/deferral is and how to use it in practice. We'll focus on two key concepts to understand what is going on: Margin definition and margin optimization. You will learn how to construct margin/deferral contracts, and you will learn how to find margin/deferral targets. We'll also look at different types of contracts and how to choose the one that provides the best deal for you and your business. You’ll learn to incorporate strategy into the marketing mix, even if that means breaking from traditional marketing methods. By the end of this course, you will be able to: - Establish margin/deferral objectives

Course Tag

Sales Marketing Digital Marketing Entrepreneurship

Related Wiki Topic

Article Example
Marketing strategy If a company adopts this type of market strategy, they design a separate marketing mix for each customer.
Marketing strategy An organization's strategy combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the product mix in order to achieve the maximum profit and sustain the business. The marketing strategy is the foundation of a marketing plan.
Marketing strategy Marketing strategy should not be confused with a marketing objective or mission. For example, a goal may be to become the market leader, perhaps in a specific niche; a mission may be something along the lines of "to serve customers with honor and dignity"; in contrast, a marketing strategy describes how a firm will achieve the stated goal in a way which is consistent with the mission, perhaps by detailed plans for how it might build a referral network, for example. Strategy varies by type of market. A well-established firm in a mature market will likely have a different strategy than a start-up. Plans usually involve monitoring, to assess progress, and prepare for contingencies if problems arise. You should also write a marketing strategy when starting your own business.
Marketing strategy The 4P’s also known as Price, Product, Place and Promotion is a strategy that originated from the single P meaning Price. This strategy was designed as an easy way to turn marketing planning into practice. This strategy is used to find and meet the consumers needs and can be used for long term or short term purposes. The proportions of the marketing mix can be altered to meet different requirements for each product produced, similar to altering ingredients when baking a cake.
Marketing strategy Strategic Marketing, because complex, suffers from being misunderstood. Many entrepreneurs and small companies think they can manage this without training. To the detriment of their business.
Marketing strategy Marketing strategy has the fundamental goal of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic, short-term, and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.
Marketing The area of marketing planning involves forging a plan for a firm's marketing activities. A marketing plan can also pertain to a specific product, as well as to an organisation's overall marketing strategy.
Marketing strategy For most of their time, marketing managers use intuition and experience to analyze and handle the complex, and unique, situations being faced; without easy reference to theory. This will often be 'flying by the seat of the pants', or 'gut-reaction'; where the overall strategy, coupled with the knowledge of the customer which has been absorbed almost by a process of osmosis, will determine the quality of the marketing employed. This, almost instinctive management, is what is sometimes called 'coarse marketing'; to distinguish it from the refined, aesthetically pleasing, form favored by the theorists.
Marketing strategy Strategic planning typically begins with a scan of the business environment, both internal and external, which includes understanding strategic constraints. It is generally necessary to try to grasp many aspects of the external environment, including technological, economic, cultural, political and legal aspects. Goals are chosen. Then, a marketing strategy or marketing plan is an explanation of what specific actions will be taken over time to achieve the objectives. Plans can be extended to cover many years, with sub-plans for each year, although as the speed of change in the merchandising environment quickens, time horizons are becoming shorter. Ideally, strategies are both dynamic and interactive, partially planned and partially unplanned, to enable a firm to react to unforeseen developments while trying to keep focused on a specific pathway; generally, a longer time frame is preferred. There are simulations such as customer lifetime value models which can help marketers conduct "what-if" analyses to forecast what might happen based on possible actions, and gauge how specific actions might affect such variables as the revenue-per-customer and the churn rate. Strategies often specify how to adjust the marketing mix; firms can use tools such as Marketing Mix Modeling to help them decide how to allocate scarce resources for different media, as well as how to allocate funds across a portfolio of brands. In addition, firms can conduct analyses of performance, customer analysis, competitor analysis, and target market analysis. A key aspect of marketing strategy is often to keep marketing consistent with a company's overarching mission statement.
Engagement marketing Another example of engagement marketing is seen in the marketing strategy of Jaihind Collection Pune for their paraplegic fashion Show.
Affinity marketing There are plenty of benefits for all bodies when employing an affinity marketing strategy.
Cloud marketing Strategy is the direction of action which will achieve a goal or objective. The strategy for cloud marketing is broken down into 4 key elements.
Functional Strategy Functional strategy - organizational plans prepared for various functional areas of a company's organizational structure (e.g., marketing strategy, financial strategy, production strategy etc.). Functional strategies can be part of overall corporate strategy or serve as separate plans of strategy cascading/implementation within a functional area.
Hunger marketing Hunger marketing is a marketing strategy. This marketing strategy is specially focusing on consumers’ emotion. Hunger marketing is a psychological strategy that focuses on consumers’ desire and it makes them hunger for items and have strong desire to buy products that other people also want to buy. By stimulating humans’ psychology, it makes people do emotional decision making, not rational decision making by making scarcity of products high. This marketing strategy boosts consumers’ interest, and, through word-of-mouth, it helps businesses have more potential customers.
Health marketing The marketing strategy would follow the traditional 4 "P's" of marketing namely:
Erasmus for Young Entrepreneurs In 2007, the European Parliament introduced a new budget line entitled "Erasmus for Young Entrepreneurs”. The European Commission then started to design the Pilot Project with the aim of supporting mobility periods abroad for recently established and nascent entrepreneurs, with a view to improving their skills and fostering the cross-border transfer of knowledge and experience between entrepreneurs.
Positioning (marketing) A segmentation-driven marketing strategy can help companies design products that are responsive, promotional tactics and campaigns developments that are effective, scale of competitive positions and fine-tune current marketing plans or ideas. Marketers must also recognize that a segmentation-driven strategy is generally more costly than mass marketing and brings a major commitment by management for "customer-oriented planning, research, implementation, and control".
Marketing strategy The requirements of individual customer markets are unique, and their purchases sufficient to make viable the design of a new marketing mix for each customer.
Marketing strategy Vertical integration is when business is expanded through the vertical production line on one business. An example of a vertically integrated business could be Apple. Apple owns all their own software, hardware, designs and operating systems instead of relying on other businesses to supply these. By having a highly vertically integrated business this creates different economies therefore creating a positive performance for the business. Vertical integration is seen as a business controlling the inputs of supplies and outputs of products as well as the distribution of the final product. Some benefits of using a Vertical integration strategy is that costs may be reduced because of the reducing transaction costs which include finding, selling, monitoring, contracting and negotiating with other firms. Also by decreasing outside businesses input it will increase the efficient use of inputs into the business. Another benefit of vertical integration is that it improves the exchange if information through the different stages of the production line. Some competitive advantages could include; avoiding foreclosures, improving the business marketing intelligence, and opens up opportunities to create different products for the market. Some disadvantages of using a Vertical Integration Strategy include the internal costs for the business and the need for overhead costs. Also if the business is not well organised and fully equipped and prepared the business will struggle using this strategy. There are also competitive disadvantages as well, which include; creates barriers for the business, and loses access to information from suppliers and distributors.
Inbound marketing It is an Internet marketing strategy which considers how search engines work and what people search for, looking for keywords for their research.