Let’s take a look inside Module 3 of The Lean MBA program, where students will enjoy 8 weeks of lessons on Marketing and Sales. Marketing is key to any successful business – it’s how you let potential customers know about your products and services. Furthermore, sales is absolutely crucial in building customer relationships and collecting payments that keep the business afloat. Discover the detailed curriculum for Module 3 below.
Marketing Mix 1
The first week’s lessons ease students into the field of marketing. They cover an introduction to the marketing mix (the 4 P’s). The P’s of Price and Product are introduced in these lessons, with the other 2 explained later. This week also talks about the purchase funnel and how marketing creates value during this process.
Marketing Mix 2
Marketing’s second week follows up with the marketing mix by explaining the remaining components of the 4 P’s: Promotion and Place. It also touches on the extended marketing mix (the 7 P’s), which includes the 3 additional components of People, Process, and Physical Evidence.
Why do we need market research? Week 3 seeks to explain this question and introduce students to the research process and it’s benefits. It focuses on commonly-used qualitative and quantitative techniques and how they can be used to draw conclusions and actionable insights. The lessons also tell of key trends, challenges and emerging methods in the industry.
Marketing Strategy & Branding
Now, students will learn how to make a marketing plan that will guide marketing strategy. Week 4’s lessons will explain 3 crucial elements of marketing and branding strategy: segmentation, targeting, and positioning. They’ll also discover the basics of strategic brand management.
Digital Marketing 1
In continuation with marketing strategy, week 5 will explain how to develop strategy from a digital point of view. It will include an overview of digital marketing channels. Plus, it will show students how to define their digital marketing plan, analyze the online environment, and understand online customer behavior.
Digital Marketing 2
Digital Marketing takes up 2 whole weeks – it’s that important! In week 6, students are taught how to define a digital marketing stack. They’ll discover how to convert visitors into leads, evaluate the performance of various digital channels; optimize SEO, and other common (and successful) digital communication strategies.
Marketing is the first step in connect with potential customers. After that, sales comes into play. Week 7 discusses the importance of sales. It covers the main principles of selling, the sales pipeline, the fundamentals of the sales cycle, and commonly-used lead qualification frameworks. Finally, students will learn how to develop a sales strategy.
Once students have learned the basics of sales, week 8 will teach them how to structure a sales force. A mistake many businesses make is using their sales department improperly. Thus, the final lesson of Module 3 will also cover the key elements of an effective sales team, plus how psychological principles and behavioral economics are involved in the sales process.
MyLeanMBA offers an affordable & flexible business administration program called The Lean MBA™. At just 299€ total, this 1-year, 100% online program teaches 12 functional areas of business administration.