This introduction to Marketing covers the essential elements of marketing for any business enterprise, marketing manager and business student at Under Graduate Level.
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Section 01 Creating Customer Relationships and Value through Marketing
- Define marketing and identify the two primary goals of marketing.
- Explain how marketing discovers and satisfies consumer needs.
- Distinguish between marketing mix factors and environmental forces.
- Explain how organizations build strong customer relationships and customer value through marketing.
Marketing is a fundamental business function that involves identifying, creating, promoting, and delivering products or services to target customers in […]
Marketing discovers and satisfies consumer needs through a process of understanding, analyzing, and responding to consumer behavior and preferences. 1. […]
The marketing mix is a framework that provides businesses with a set of tools to promote their product or service […]
Marketing is the process of promoting and selling products or services to consumers. The marketing mix, which includes product, price, […]
Section 02 Developing Successful Organizational and Marketing Strategies
- Describe three kinds of organizations and the three levels of strategy in them.
- Describe core values, mission, organizational culture, business, and goals.
- Discuss how an organization assesses where it is now and where it seeks to be.
- Explain the three steps of the planning phase of the strategic marketing process.
- Describe the four components of the implementation phase of the strategic marketing process.
- Discuss how managers identify and act on deviations from plans.
Learning Outcomes SUMMARY. LO1: Describe three kinds of organizations and the three levels of strategy in them. LO2: Describe core […]
Learning Outcomes. LO1: Describe three kinds of organizations and the three levels of strategy in them. LO2: Describe core values, […]
Section 03 Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility
- Explain the purpose of environmental scanning and how it is important to marketing.
- Define each factor of the PESTLE/PESTEL analysis and how those factors affect marketing decisions.
- Identify factors that influence ethical and unethical marketing decisions.
- Describe the different concepts of social responsibility.
SWOT analysis is a strategic planning tool used to evaluate the internal strengths and weaknesses and the external opportunities and […]
PESTEL analysis is a strategic tool used by businesses and organizations to understand and evaluate the external factors that can […]
Environmental scanning refers to the process of gathering and analyzing information about external factors that can impact a business or […]
Factors that influence ethical and unethical marketing decisions include: Societal culture Individual factors Organizational factors Opportunity. Societal culture refers to […]
The different concepts include: Profit responsibility Stakeholder responsibility Societal responsibility. 1. Profit responsibility: This concept focuses primarily on maximizing profits […]
Section 04 Consumer Decision Process
- Describe the stages in the consumer purchase decision process.
- Distinguish among three variations of the consumer purchase decision process; extended, limited, and routine problem solving.
- Identify the major situational, psychological, and sociocultural influences on consumer behavior.
- Identify the reason for conducting marketing research.
- Identify the differences between secondary and primary data and give examples of each.
- Describe the differences between quantitative and qualitative research.
- Explain what market segmentation is, when to use it, and how to target those segment.
- Recognize the bases used to segment consumer markets.
- Explain how marketing managers position products in the marketplace.
The consumer purchase decision process consists of several stages that consumers go through when making a purchasing decision. These stages […]
The consumer purchase decision process can be categorized into three variations: Extended problem-solving. Limited problem-solving. Routine problem-solving. Here’s how these […]
Situational Influences These are external factors that can affect consumer behavior at a specific point in time including: 1. Physical […]
Market research is a systematic process of gathering, analyzing, and interpreting information about a target market, industry, or specific business […]
Secondary data and primary data are two types of information used in research and analysis. They differ in their sources, […]
Quantitative research and qualitative research are two distinct approaches to gathering and analyzing information in the field of research and […]
Market segmentation in marketing is the process of dividing a broader target market into smaller, distinct groups or segments based […]
Targeting market segments involves tailoring your marketing efforts to effectively reach and engage specific groups of customers identified through the […]
Section 07 Developing New Products and Services. Managing Successful Products, Services, and Brands
- The product life-cycle and how to manage a product through it
- Branding strategies
- Packaging strategies
- 7 Ps of Service marketing.
The product life cycle (PLC) concept is a marketing framework that describes the various stages a product goes through from […]
Marketing executives play a critical role in managing a product’s life cycle to maximize its profitability and longevity. Here are […]
Branding is crucial for businesses for a variety of reasons. It is not just about having a recognizable logo or […]
Branding strategies can vary widely depending on a company’s goals, target audience, and the competitive landscape. Here are some alternative […]
Packaging and labeling play a crucial role in the marketing of a product. They are not just practical elements of […]
The traditional marketing mix, often referred to as the Four P’s, consists of Product, Price, Place, and Promotion. When it […]
Section 08 Pricing Products and Services - Distribution Channels
- Importance of pricing and the different approaches to come to an approximate price level
- Role of demand, revenues, and cost
- Understanding of marketing channels and intermediaries.
Objective: Describe the nature and importance of pricing and the approaches used to select an approximate price level. Pricing is […]
Approaches to Selecting an Approximate Price Level: Selecting the right pricing strategy involves a careful analysis of the market, understanding […]
Pricing decisions are fundamental to a business’s success, as they directly impact its profitability, market position, and customer perception. The […]
Firms may have various objectives in setting prices, depending on their specific circumstances, market conditions, and overall business strategy. Here […]
A marketing channel of distribution, often referred to as a distribution channel, is a set of intermediaries or middlemen involved […]
Traditional Marketing Channels: Characteristics: Traditional marketing channels rely on physical distribution methods, often involving face-to-face interactions and tangible assets like […]
Section 09 Promotional Strategies & Marketing Campaigns
- Promotional mix
- Promotional Strategy
- Exploration of successful Marketing Campaigns.
Integrated Marketing Communication (IMC): Integrated Marketing Communication is a strategic approach that involves coordinating and unifying all the different elements […]
The promotional mix, also known as the marketing communications mix, refers to the combination of tools and strategies that a […]
Selecting the appropriate promotional approach for a product involves considering various factors, including the target audience, the product’s life-cycle stage, […]
The promotion decision process involves a series of steps that businesses undertake to plan, develop, execute, and evaluate their promotional […]
Section 10 Integrated Marketing Communications
- Introduction to IMC and the communication process
- Promotional Strategies advanced.
Integrated Marketing Communication (IMC) is a strategic marketing approach that aims to create a unified and seamless brand experience for […]
The promotional mix, also known as the marketing communications mix, is a combination of various promotional tools and techniques used […]
Selecting the appropriate promotional approach involves considering the product’s target audience, its life-cycle stage, and the chosen channel strategies. Here’s […]
Quick Guide to the Promotion Decision Process Set Clear Objectives: Define specific, measurable, achievable, relevant, and time-bound (SMART) goals. Understand […]
Section 11 Innovation and New Value Creation
- Understand the Market Orientation concept and its strategic relationship to market strategies.
- Discuss Dynamic Marketing in unique markets.
- Discuss Non-Traditional Marketing and its effectiveness in reaching consumers.
Market Orientation Concept: Market orientation is a business philosophy that prioritizes understanding and meeting the needs and wants of customers […]
Dynamic marketing refers to a flexible and adaptive approach to marketing that responds quickly to changes in the market environment. […]
Non-traditional marketing, also known as unconventional or guerrilla marketing, involves innovative and creative approaches to promote products or services. It […]
Section 12 Competitor Analysis
- Describe Competitor Analysis and introduce analysis tools to apply to the marketplace.
- Designing a competitive strategy explanation and the use of tools in this Marketing process.
- Identify and explore Competitive Strategies in Marketing and the global companies that are successes and failures in this.
Competitor analysis is a strategic process used by businesses to evaluate and understand their competitors’ strengths, weaknesses, strategies, and market […]
Explain how to design a competitive strategy and the tools used in this Marketing process. Designing a competitive strategy involves […]
Main Competitive Strategies in Global Marketing – With Examples Cost Leadership: Focuses on becoming the lowest-cost producer in the industry. […]