For the last few weeks we have been going through the Marketing concentration in the #Quantic Executive MBA, it’s been quite interesting to go into the details in some areas. Here is a summary of how I look at marketing after most of the lessons.

Marketing is the process of creating, communicating, and delivering perceived value to customers.  It involves conducting a situation analysis, creating value, communicating value, and delivering value.

The marketing mix consists of product, price, place, and promotion. These four factors are under the company’s control and can be adjusted over the course of the product life cycle.

The purchase funnel is the process potential customers go through before they decide to buy a product. Marketing activities should be tailored to each stage of the funnel: awareness, interest, desire, and action.

Brand building involves developing a brand identity and creating a positive brand image. It can be done through branding fundamentals, positioning and mapping, and messaging and performance.

A/B testing is a method of comparing different versions of a marketing campaign to see which one performs better. It involves designing and conducting an A/B test, and then analyzing the results.

Digital marketing involves using digital channels to reach and engage customers. It includes paid digital advertising, email marketing, social media, and display advertising.

Pricing is the process of setting a price for a product or service. It involves understanding basic concepts, principles, and strategies, as well as setting prices, communicating value, and designing product offers.

Price segmentation is the process of dividing a market into different groups of customers based on their price sensitivity. It involves identifying consumer segmentation by price sensitivity, and then using price fences, volume discounts, and bundling to target each segment.

Promotional discounts are a type of price promotion that is used to boost short-term demand. Markdown management is another type of price promotion that is used to maximize revenue from a markdown scheme.

E-commerce pricing is the process of setting prices for products or services sold online. It involves understanding the challenges and opportunities of e-commerce pricing, as well as using yield management, subscription pricing, and other pricing methods.

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