About This Chapter
Marketing & Promotion - Chapter Summary
Successful marketing and promotional activities are crucial to helping companies increase sales revenue and brand awareness. This chapter is designed to help you develop a greater understanding of business markets, marketing research, consumer behavior and the influence of advertising. Videos are accessible 24/7 from any device and transcripts can be printed to be used as quick reference tools. Once you have completed your review of this chapter's lessons, you should be able to:
- Differentiate the functions of marketing, sales, production and societal sales
- Apply effective marketing research methods
- Analyze primary and secondary data resulting from marketing research
- Estimate market size
- Describe the four segments of business markets and explain their importance
- Determine customer needs
- Formulate marketing plans for specific target audiences
- Identify consumer decision making processes
- Relate the effect of advertising on consumer buying
1. Marketing, Production, Sales & Societal Marketing Orientation
You will learn the difference between marketing, production, sales and societal marketing orientations and how it can affect a company's financial success.
2. Marketing Research: Definition, Purpose and Role in Marketing Strategy
If you're a business owner, you need to know your clientele. Watch this lesson to understand the purpose and role of marketing research strategy in an overall marketing plan. This might be just the info you need!
3. What Is Primary Data in Marketing Research? - Definition, Sources & Collection
If you ever received a call to participate in a survey, you were part of primary data collection. In this lesson, you'll learn what primary data is, sources of primary data and collection of it. A short quiz follows.
4. Secondary Data in Marketing Research: Definition, Sources & Collection
Marketing research requires data, and secondary data is often the most convenient and cost-effective option. In this lesson, you'll learn about secondary data, including its sources and how to collect it.
5. Market Size: Definition & Explanation
In this lesson, we will define market size and explain how the term is used. Learn how to estimate market size and how this can be used to identify potential business opportunities.
6. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
7. Market Segmentation: Geographic, Demographic, Psychographic & More
Marketers must be effective at creating niche segments to promote and sell their products or services. There are five specific ways that markets can be segmented in order to create a successful sales opportunity.
8. How to Segment Business Markets Step-by-Step
Discover the four segments of business marketing in this lesson. You will also learn the distinguishing characteristics of each segment so you may easily identify each of them.
9. Understanding the Marketplace & Customer Needs
Watch this video lesson to learn how you can find a market for your products. Learn that you have to know which product to pick or create before becoming a successful business person.
10. Positioning and Differentiation in Consumer Marketing
Consumers' perceptions of products and brands are influenced by the marketing and promotional plan. Marketers must identify the key characteristics that are important to the target market and then ensure that their product stands out in the minds of the consumers as the best choice for purchase.
11. Buying Behavior and Marketing: Types of Consumer Buying Decisions
Marketers must consider how consumers decide to buy their product. Consumers use nominal, limited, and extended decision making. Watch this video to learn more about the different types of consumer decisions.
12. Effects of Advertising on Consumer Buying Behavior
How does advertising influence the process of consumer buying behavior? What impact does advertising have on a company's market share, and how does this shape the marketing budget? This lesson describes why advertising is so important - particularly for newer companies.
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Other chapters within the Principles of Marketing: Help and Review course
- Marketing Philosophies and Ethics: Help and Review
- Competitive Advantage: Help and Review
- The Marketing Environment: Help and Review
- International Marketplace: Help and Review
- Consumer Decision Making: Help and Review
- Business Marketing and Marketing Research: Help and Review
- Segmentation and Product Marketing: Help and Review
- Managing a Product and Retailing: Help and Review
- Services Marketing: Tutoring Solution
- Promotion, Advertising and Public Relations: Help and Review
- Selling and Pricing Strategy: Help and Review
- Small Business Marketing Strategies