About This Chapter
Elements of a Marketing Strategy - Chapter Summary
There are many facets to developing a dynamic and influential marketing strategy for a product or business. The lessons in this chapter provide you with a comprehensive review of important elements of a marketing plan. Specifically, you'll explore:
- Product differentiation strategies
- The promotional mix
- How branding impacts brand equity
- Consumer perception, pricing, and sales orientation
- The marketing and distribution channels
- Email marketing
- Customer retention techniques
- Public relations
- Marketing ethics
The lessons in this chapter have been developed by experts in the field who present the material in an informative and engaging way. The chapter contains short video and text lessons to help illustrate the material. You'll find important terms and concepts highlighted throughout each text lesson. After completing each lesson, take a self-assessment quiz to gauge your knowledge of the topics, and when you're ready, take a cumulative chapter exam to see how well you've absorbed the material.
1. The Promotional Mix: Target Markets, Buying Decisions & More
The promotional mix is one of the 4 Ps of the marketing mix. It consists of public relations, advertising, sales promotion and personal selling. In this lesson, you'll learn how a marketing team uses the promotional mix to reach company objectives and goals.
2. Product Differentiation in Marketing: Examples, Strategies & Definition
Few, if any, businesses sell a product without any competition. In this lesson, you'll learn how successful companies set their products apart by differentiation. After the lesson, you can assess your understanding with a short quiz.
3. Branding and Brand Equity in Business Marketing
Brand and brand equity go hand-in-hand in the marketing arena. Here, we will discuss how a brand develops and how that leads to increased brand equity.
4. Pricing Strategy and Consumer Perception
Consumers' perceptions of products rely heavily on the pricing strategy that is chosen by the marketing manager. Price will impact not only consumer perception but also profit and speed of product adoption.
5. Marketing Channel: Definition and Function in the Marketplace
In this lesson, we'll learn about the marketing channel, which allows producers to deliver their product to consumers in the correct quantity, type and location. Without help from additional channel members, most companies would not be able to increase their target market reach and satisfy their customer needs.
6. Distribution Channels in Marketing: Definition, Types & Examples
A distribution channel is a necessity in business. This lesson will discuss these channels, the types of distribution systems, and the goods and services that move along these channels.
7. What is Email Marketing? - Definition & Types
Email marketing is a common and effective method to communicate with customers. This lesson explains the use and benefits of email marketing as part of the marketing strategy.
8. Communication Tips for Customer Retention
Customers who receive attentive, high-quality customer service are more likely to continue to do business with that company. This lesson discusses the importance of communication as a technique to retain customers, strategies companies can use for communication, and the benefits of each strategy.
9. What Is Public Relations? - Definition & Examples
If you have ever been to a concert or sporting event sponsored by a business, you've been exposed to public relations. In this lesson, you'll learn what public relations are and be provided some examples. A short quiz follows.
10. Public Relations Management: Skills, Activities & Departmental Structure
Companies utilize a public relations team to create mutually beneficial relationships between organizations and stakeholders. In this lesson, you will learn about public relations management, skills, activities, and the departmental structure.
11. Sales Orientation: Definition & Examples
Learn how to recognize a sales-oriented marketing strategy, including what types of goods and services are typically sold using this strategy and what promotional techniques go along with it. We'll also cover some of the strategy's possible pitfalls.
12. Ethical Behavior in Marketing: What Are Marketing Ethics?
Watch our lesson to learn the definition of ethics and how it relates to business and marketing. You will also learn about the idea of ethical business behavior.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.