The Five Phases of Marketing Explored Deeply in an Online Marketing Diploma
Marketing is arguably the most crucial part of a modern business. Great marketers are an incredible asset. One wrong marketing move and the business may fall apart before it is ever formally launched. Companies spend millions of dollars marketing every year, and their efforts and strategies are always changing. Experts want to collaborate with individuals knowledgeable about the complexities and dynamics of modern marketing. The marketing Division can offer just that opportunity. Through about 10 advanced electives, the courses detail modern marketing principles, the virtues of niche development, and classic marketing psychology into a melting pot of knowledge. The core units are divided into phases. These parallel the phases of the marketing spectrum, from idea conception to the post-campaign monitoring.
1, The first phase evaluates opportunities. The first sign of an amateur is if they lean too hard on a passion without evaluating the need for that product or service. Passion is elemental and necessary, but it needs to be matched with a core opportunity.
2. The second phase is the marketing mix. It is a natural extension of the fulfillment of a need. The marketing mix is the overall target market.
3. Market research involves developing and detailing what the target is all about. Many marketers find that they need to revert back to phase one after their market research comes up short. It will assess the size of the market, where they are, and what impact they will have on the industry as a whole? A company may not want to stay in a niche forever. Is there potential for lateral growth?
4. Market trends and patterns are reviewed in the next major phase of a Diploma in Marketing. The potential may be there, but experts need to review how their product or service will be impacted by trends.
5. The last phase is monitoring the actual campaign. During the previous phase, the core campaign is launched. Marketers now closely monitor what their campaign is doing in their target audience. Adjustments are made, and the entire process begins anew.
One can see that every phase naturally evolves from the next. It is a sensible and organic evolution that reflects the organic path from idea to completion that occurs in businesses every day.