Topic 2: Marketing strategies & Business idea and market analysis


Vera Kristjansdóttir


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Welcome to Topic 2 - Marketing strategies and market analysis


Topic Topic 2: Marketing strategies & business idea and market analysis (1ECT)
Teachers Hafdís Björg Hjálmarsdóttir and Vera Kristín Vestmann Kristjánsdóttir
Short description In this module, you will leaarn about market analysis, which is a quantitative and qualitative assessment of a market, which is highly important before entering a market. You will learn how to analyse a market using the PEST analysis. Using the PEST analysis, you will learn how to analyse the different environments of different markets. This analysis is crucial in helping you making the right decision on whether to enter a particular market or not.
You will also learn how to use SWOT analysis, which helps you assess your companies, products or services strengths and weaknesses and to examine the opportunities and threats of the exterior environment.
You will learn about segmentation, targeting and positioning, or STP, and branding.
Finally you will learn about the marketing mix, the set of tools that you can use for your product and/or service to pursue your objectives in the target market.
Learning objectives On completion of this module, you have gained a good understanding of market analysis and tools that are used assessing market feasibility. You are also able to apply these concepts into practice.

Learning outcomes

By the end of this module, you should be able to:

  • Construct a market analysis using the PEST analysis
  • Analyse and compare different markets
  • Assess feasibility of entering different markets
  • Analyse your company and its external environment using the SWOT analysis
  • Understand the importance of branding your product and/or services
  • Design and choose appropriate marketing strategy for entering a market using the marketing mix
Pre-requisites None  
Learning instructions This topic uses a mix of texts, videos and a quiz.
Assessment Quiz (Self-test)


Course content

  • 1. Introduction to marketing strategies and business analysis

  • 2. PEST analysis

  • 3. SWOT analysis

  • 4. Market segmentation and branding

  • 5. Marketing mix

  • 6. Quiz

  • Reference & literature overview

  • Survey

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