Marketing: Customer Needs and Wants

Go to Course: https://www.coursera.org/learn/marketing-customers

Introduction

### Course Review: Marketing: Customer Needs and Wants In today's dynamic business environment, understanding customer needs and wants is crucial for developing successful marketing strategies. Coursera’s course, "Marketing: Customer Needs and Wants," offers a comprehensive exploration of this essential topic. Designed for those seeking to deepen their marketing knowledge, this course provides valuable insights that are applicable to various industries. #### Course Overview "Marketing: Customer Needs and Wants" is structured to guide participants through the fundamental aspects of marketing. It focuses on identifying and classifying customers, understanding their purchase decisions, and formulating effective marketing strategies. The course is divided into four key areas: Marketing Fundamentals, Product, Pricing and Channel Decisions, Building Strong Brands, and Communication Strategy. Each week dives into different aspects of marketing, blending theory with practical examples. Here’s a detailed breakdown of what you can expect from the course: #### Week 1: Marketing Fundamentals The course kicks off with an introduction to the core concepts of marketing. This week emphasizes the significance of effectively communicating a company's value proposition. Key learning objectives include understanding the basic pillars of marketing and how to frame challenges and decision-making processes. This foundational knowledge is crucial for anyone embarking on a marketing career or seeking to enhance their existing skills. #### Week 2: Product, Pricing & Channel Design Building on the fundamentals, Week 2 delves into the intricacies of product, pricing, and channel decisions. Students are presented with case studies, such as the launch of the first iPod, to illustrate how solid marketing strategies lead to product success. Participants will learn how to define a product, estimate demand, and effectively manage pricing and channel strategies. This week cultivates an understanding of the strategic decisions that underpin viable products and services. #### Week 3: Building Strong Brands In Week 3, the course focuses on branding—a vital component in the marketing mix. Strong brands not only communicate value but also drive customer loyalty. This session explores the concept of brand equity and discusses the principles of managing and fostering strong brand identities. Students will learn why branding is an asset and how it contributes to long-term company value, equipping them with the knowledge to develop effective brand strategies. #### Week 4: Communication Strategy The final week covers the development of a robust communication strategy tailored to customer interests and needs. It introduces frameworks for organizing communication efforts and discusses the essential elements of successful campaigns. Understanding the customer journey and how to adapt messaging at various stages is crucial for effective marketing. This week empowers participants to create communication strategies that resonate with their target audience, ensuring the successful launch of products and services. #### Recommendation I highly recommend "Marketing: Customer Needs and Wants" for anyone interested in enhancing their marketing skills, whether you are a beginner or have some experience in the field. The course is well-structured, with each week building upon the last, making complex concepts easier to grasp. The practical examples and case studies provide real-world context, making the learning experience both engaging and applicable. By the end of the course, participants will possess a richer understanding of customer-centric marketing strategies, which are essential in today's market landscape. Whether you’re looking to elevate your career, improve your business acumen, or launch successful marketing campaigns, this course serves as a valuable resource. Embrace the opportunity to better understand your customers and elevate your marketing expertise by enrolling in this course today!

Syllabus

Course Overview & Week 1

Welcome! Before you start today's videos, please have a look at the syllabus. In this first session, I'll give you an overview of what marketing is all about and why it's key to communicating a company’s value proposition. You’ll also get a grasp of marketing essentials, particularly how to frame challenges and what to think about when making decisions. Objectives: To gain insight into the basic pillars of marketing.

It’s hard to remember what the world was like before iPods, iPhones and iPads. But when Apple released the first iPod in 2001, it was not an automatic blockbuster. The product was great, but it took a lot of marketing savvy to set it on it’s successful path. All companies – whether selling electronics, gastronomic experiences, or credit cards – need to worry about making product, pricing and channel decisions. In this second session, we will explore what a product really is, how to estimate its demand and manage it. In addition, we’ll discuss the fundamentals of pricing, channel design and channel management. Objective: To gain an understanding of what a product really is, how to manage pricing and make decisions about channels.

Strong brands make a great impact on individuals and society; they are key to communicating value and getting the word out about a product or service. In this session we will explore the importance of brands as assets and branding in general. We will define the concept of brand equity and the essence of managing brands for value. Objective: To understand how branding contributes to a company’s value and how to go about developing a strong brand.

Once a company has a good grasp of its customers, it can now develop a communication strategy to appeal directly to their interests and needs. In this session I will introduce a framework that will show you how to organize your communication strategy in order to successfully launch a product or service. We will also discuss what the objectives and target market of that strategy should be. Mapping the decision-making process is also key since you will need to learn to adapt the message and content to each stage of the customer journey. Objective: To define the elements and list the steps for building a sound communication strategy.