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. 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.
3. 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.
4. 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.
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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
- Overview of Global Logistics & Distribution
- Services Marketing: Tutoring Solution
- Promotion, Advertising and Public Relations: Help and Review
- Selling and Pricing Strategy: Help and Review
- Small Business Marketing Strategies