Marketing Strategy Timeless Principles Applied with Modern Frameworks
Learn about fundamental marketing principles and how to apply them in today's digital world with modern marketing models. We learn how to develop marketing personas, conduct research, implement modern frameworks and explore ideas from today's marketing gurus!
What You Will Learn
Are There Any Prerequisites?
In this video we go through the 4 key sections of the course to give you a quick overview of what we will cover.
Marketing is not sales, so what is it then?
We define the 3 core components of Marketing.
We work towards a definition of marketing strategy. We start by looking at what strategy is not and the mass confusion there appears to be in the industry. Following that, we come to a definition distilled down into 3 components.
In this video we use an analogy to help explain how marketing strategy is like planning a military campaign. We also clear up the differences between strategy and tactics.
The 4P’s are core principles of marketing. Price, place, product and promotion. We detail what each one means with modern, relevant examples
We look at the 6 Powers of Persuasion, we detail what each one means and how marketers can use these effectively.
We define the three categories of marketing tools: Industry Tools, Competitor Research Tools and Owned profiles. We discuss top level examples of tools in each category. We also discuss primary vs secondary research tools and the process of market research
In this video we discuss digital surveys, when and how to use them for Market Research. We deep dive into Survey Monkey, a digital survey tool. We also look at brand lift surveys on youtube and facebook ad polls. We also talk about the difference between qualitative and quantitative questions and sample sizes in the context of surveys.
Sample size calculator example: https://www.surveymonkey.com/mp/sample-size-calculator/
We deep dive into Market Segmentation and provide more info on how to do it right. Included is a discussion of needs based segmentation, which starts by first trying to understand persona needs rather than demographics. We go deeper into the psychology of why people may have certain needs. We include a step process for conducting needs based segmentation towards the end of the video.
As marketers we need to understand our ‘Why’, that’s the level where we need to influence our audience. We discuss Sinek’s idea of the Golden Circle and how his thinking is different to Gary V. We also discuss how Sinek’s approach also appears to be different to our market based approach to marketing.
See Sinek’s video on the Golden Circle: https://simonsinek.com/commit/the-golden-circle
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Chua Yi Cheng