Ch 5: Elements of a Marketing Strategy

About This Chapter

Use the lessons in this chapter to review the components of an effective marketing strategy. You'll find several ways to test your understanding throughout the 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.

12 Lessons in Chapter 5: Elements of a Marketing Strategy
Test your knowledge with a 30-question chapter practice test
The Promotional Mix: Target Markets, Buying Decisions & More

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.

Product Differentiation in Marketing: Examples, Strategies & Definition

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.

Branding and Brand Equity in Business Marketing

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.

Pricing Strategy and Consumer Perception

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.

Marketing Channel: Definition and Function in the Marketplace

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.

Distribution Channels in Marketing: Definition, Types & Examples

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.

What is Email Marketing? - Definition & Types

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.

Communication Tips for Customer Retention

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.

What Is Public Relations? - Definition & Examples

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.

Public Relations Management: Skills, Activities & Departmental Structure

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.

Sales Orientation: Definition & Examples

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.

Ethical Behavior in Marketing: What Are Marketing Ethics?

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.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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