About This Chapter
Below is a sample breakdown of the Business Marketing Basics chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday|| Marketing definition and functions;|
Market and sales orientation
|Definition of marketing and how marketing is used in business;|
Types of marketing strategies and why companies choose them;
Differences between market orientation and sales orientation, pros and cons of each
|Tuesday|| Competitive advantage;|
Types of competitive advantage;
Target market strategies
|S.W.O.T. analysis, strategic alternatives such as market development, product development, market penetration and diversification;|
Definition of competitive advantage, including cost competitive advantage, product/service differentiation, niche competitive advantage;
Definition of marketing strategy and target market, how to identify a target market
|Wednesday|| Marketing mix;|
|Components of a marketing mix;|
Definition and purpose of marketing research;
Why businesses must be aware of external factors that could influence their goals
|Thursday|| Attitudes, values and beliefs in marketing;|
B2B vs. B2C;
|Social factors that can affect marketing;|
Comparison of business to business marketing and business to consumer marketing;
Definition of a market segment and why marketers are interested
|Friday||Types of segmentation;|
Consumer buying decisions;
Influences on consumer buying decisions;
Consumer relationship management (CRM)
|Ways to segment a market and the pros and cons of each;|
Factors that can influence consumer buying decisions, including values, culture, peers and social class;
Definition and overview of CRM and ways that technology is being integrated into customer interaction
1. Introduction to Marketing: Definition and Applications
In this introductory video lesson on marketing, you'll learn what marketing is, how it's used to reach consumers and why it's important to businesses. You'll also see how exchange is related to marketing.
2. 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.
3. Market Orientation and Sales Orientation: Definition and Differences
You will learn the different ways an organization can focus their internal strengths. You will understand the five main differences between a sales and market orientation.
4. Competitive Advantage: The Importance of Strategic Marketing
Companies have many options when it comes to gaining market share and increasing profits. Learn about strategic marketing and the tools companies use to their advantage.
5. Types of Competitive Advantage: Cost, Product, Niche & Sustainable Advantages
Companies need that special something to draw in new customers and keep them coming back. Learn about competitive advantage and the different ways a company can have it.
6. Target Market Strategies for Successful Business
If you've ever felt persuaded to buy an item by an ad, you've likely been defined as part of a target market. Though you may not know it, advertisements are created specifically for people similar to you. In this lesson, you'll learn how marketing firms identify a target market, create basic target market strategies and use a marketing mix for a product or service.
7. The Marketing Mix: Product, Place, Price & Promotion
A marketing plan is the central part of the overall marketing strategy. A marketing plan's main focus is the marketing mix, which consists of product, place, promotion and price decisions. All four elements are very flexible and have many options. The main purpose of the marketing mix is to effectively communicate with the target market.
8. 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!
9. Marketing Environment: External Influences on Marketing Strategy
What influences how a business sells its products - and itself? In this lesson, you will learn more about external influences that affect the marketing strategy of a business.
10. Attitudes, Values & Belief: Social Factors in Marketing
Why do consumers make the choices they do? What causes them to purchase certain products? In this lesson, you will learn how the culture, attitudes, values and beliefs of consumers are the social factors that affect how marketers create a successful target marketing mix.
11. B2B vs. B2C: How Business Marketing Differs from Consumer Marketing
A business-to-business sales situation has numerous key differences from a business-to-consumer situation. Marketing managers must develop a business selling strategy and be aware of the five different aspects of business buying behavior compared to consumer buying.
12. 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!
13. 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.
14. 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.
15. Influences on Consumer Buying Decisions: Cultures, Values & More
External influences are all around us and play a large role in our buying decisions. Watch this video to see how cultures, values and other influences shape our purchases.
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Other chapters within the Intro to Business Syllabus Resource & Lesson Plans course
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