Who should attend
- Current and aspiring product managers
- Business executives
About the course
Product marketing, or the process of bringing a product to market, is an increasingly critical role that sits at the intersection of the marketing and product management functions. For any product, navigating the nuances of effectively positioning within a given market and determining optimal pricing can be a daunting task — one that can make or break a launch. This certificate program gives you the necessary tools and tactics to make strategic decisions that will impact the growth and viability of your product, organization, or venture.
You will begin by examining different strategies for evaluating the market and determining the value drivers of your target customers. You will have the opportunity to develop a plan for delivering added value to different customer segments as well as mitigating potential threats within the market. Next, you will practice assessing the opportunities presented by change and disruption, using tools to assess the challenges of a dynamic market as well as address potential internal obstacles to successful implementation. You will then take an in-depth look at market research. Practicing the evaluation of research methods and reviewing different applications of research within actual business scenarios are the focus of this course. The last course in this series will give you a foundation in pricing strategies that will allow you to maximize profit for your products. By the completion of the program, you’ll be better prepared to position your products for market success.
Value Creation and Profitability
Increasing and sustaining profitability requires that you deliver unique value to consumers while guarding against competitive threats. Developing a successful strategy requires recognizing and planning for the specific challenges in your market so as to avoid costly mistakes, seize new opportunities, and raise long-run profits.
In this course, you will explore a variety of real-world examples and powerful frameworks to supercharge your strategy and profitability. You will assess both current and prospective market opportunities and identify the specific needs of distinct customer segments within those markets. You will then strategize how best to create new value for your targeted customers, beyond what rivals offer. You will develop your organizational plan, identifying which resources and partners are essential for delivering value to your targeted consumers while also controlling costs. Finally, you will perform an in-depth competitive analysis of threats that might detract from your profits and develop tactics to mitigate these threats.
Change, Disruption, and Growth
Change can be a highly profitable opportunity for growth, or it can sink a once-successful business. How should you and your organization prepare to adapt and even thrive in the face of change and disruption?
In this course, you will acquire the tools you need to evaluate change, disruption, and uncertainty in your industry. You will implement key frameworks designed to help you strategize in changing and uncertain environments. The skills you hone in this course will prepare you to succeed in dynamic market environments and think clearly about the future.
Strategies for change risk failing if the organization as a whole is not willing or prepared to implement them. To pave the way for truly successful implementation of the strategies you devise, you will identify and mitigate critical internal challenges and resistance to change, thereby enabling your organization to eliminate roadblocks to growth.
Market Research and Analysis
Marketing professionals rely on clearly defined goals to determine the course of action when placing a product in the market. Leveraging research to learn more about your target audience is the main subject of this course. In this course, you will learn how to be an intelligent consumer of information when it comes to market research and analysis, so you can become a more effective decision maker. You will first look at market research, the purpose and goals of research, how to balance the ideal with reality in doing research, and how to apply the six stages of research to a marketing situation. Next you will examine different ways to analyze the data acquired. Using formulas to determine how cannibalization affects the profitability of new products and the value of a long-term customer, you will perform a basic sensitivity analysis to assess the robustness of your results.
The right pricing strategy can make or break a business — yet pricing impacts can be difficult to fully measure and understand.
In this course, you will analyze pricing data, evaluate key factors relevant to pricing effectiveness, and use your insights to optimize product prices. You will have the opportunity to apply a variety of popular pricing formulas and determine the business impact of the resulting price changes. Ultimately the skills developed in this course will allow you to make pricing decisions that will maximize profits for each product or service in your organization.
It is recommended that students be comfortable using Microsoft Excel before beginning this course.
KEY COURSE TAKEAWAYS
- Perform a competitive analysis
- Describe your target customers and determine how you can best create value for them, beyond what rivals offer
- Analyze market research
- Identify the specific needs of distinct customer segments
- Assess change, disruption, and uncertainty in your market
- Determine a customer’s willingness to pay for a product or service
- Explore other key pricing methods
Vithala R. Rao is the Deane Malott Professor of Management and professor of marketing and quantitative methods at the Samuel Curtis Johnson Graduate School of Management. He holds master''s degrees in mathematical statistics from the University of Bombay and in sociology from the University of Mi...
Professor Douglas Stayman is an associate professor at the Johnson Graduate School of Management. His teaching and research interests are in the areas of advertising and consumer decision making. He came to Johnson from the University of Texas at Austin. His research has focused on the study of e...
Justin Johnson received his PhD from MIT and is currently a professor of economics at Cornell University''s Samuel Curtis Johnson Graduate School of Management. He teaches business strategy to the School''s MBA and Executive MBA students. He has worked with eCornell (a Cornell University subsidia...
Videos and materials
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