The World of Marketing

R5,500.00

An organisation may have what they believe to be an excellent product or service, but if that product or service does not meet the needs of the customer by offering value at the right time, in the right place and at the right price, it will no doubt fail. An organisation does not operate in isolation. Any changes that occur in the environment external to the organisation, also known as the macro-environment, may impact its success.

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SKU: WOM01 Category:

An organisation may have what they believe to be an excellent product or service, but if that product or service does not meet the needs of the customer by offering value at the right time, in the right place and at the right price, it will no doubt fail. An organisation does not operate in isolation. Any changes that occur in the environment external to the organisation, also known as the macro-environment, may impact its success.

In this course you will learn how to research and be on the look-out for any changes in this environment that could create new opportunities or cause new threats to the organisation. This research will include what competitors are doing. Since they are competing for the same attention and consumer spending power, its critical to understand their strategies and be in a position to develop products or services that are unique and different from theirs. Developing and maintaining a competitive advantage is a core function of marketing.

Marketing is the heartbeat of the organisation, and consumers are the reason why the heart beats. Without the consumer, there is no market, which means that there will be no demand or interest in your organisation’s products or services. This is why in this course you will learn about the various psychological and social forces that affect consumer behaviour. By knowing more about how consumers behave, you can gain a better understanding as to why customers buy, what they buy, or, more generally, why they respond to marketing stimuli as they do. This in turn will enable you as a marketer to explain, influence, predict and track consumer behaviour through each step of the decision-making process.

Organisations have to establish themselves in the minds of their customers. They must stand out from competitors and should be unique in what they stand for, what they sell and what they do. The process of segmentation, targeting and positioning helps marketers to achieve this. The Internet and social media are effective tools available to marketers to segment, target and position a product or service. Information that would have previously been expensive and time consuming to gather is now available at the marketer’s fingertips.