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Ch 21: Marketing Strategy in Business

About This Chapter

Use this chapter to review marketing strategies and plans utilized by all types of businesses. These lessons can help you get ready for business class tests and discussions or study for academic assessment, college entrance or college placement exams.

Marketing Strategy in Business - Chapter Summary

What is brand management and mass marketing? How does product packaging play a role in marketing? Which marketing tools can help to project and track marketing goals? These are some of the questions you can explore when you use this study resource.

This chapter covers areas of consumer marketing, market segmentation, plan implementation and niche strategy methods. After you have completed this chapter, you should be able to:

  • Describe strategic marketing tools and plan implementation techniques
  • Understand how to use consumer perception to target specific markets
  • Discuss branding and brand equity
  • Relate how packaging is used in marketing strategies
  • Name five ways that markets are segmented
  • Detail different marketing strategies used for various products and services
  • Define mass and niche strategy marketing
  • Name various marketing tools, such as budgeting and sales forecasts

Learn about these topics in short video and text lessons that you can access at any time, from any device. Each lesson is taught by an experienced instructor that you can contact to ask lesson-specific questions. Track your progress on your Dashboard, and measure the depth of your knowledge with self-assessment quizzes that accompany the lessons.

10 Lessons in Chapter 21: Marketing Strategy in Business
Test your knowledge with a 30-question chapter practice test
Competitive Advantage: The Importance of Strategic Marketing

1. 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.

Positioning and Differentiation in Consumer Marketing

2. 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.

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.

What Is Product Packaging in Marketing? - Definition, Types & Importance

4. What Is Product Packaging in Marketing? - Definition, Types & Importance

Most products have some form of packaging, even if it's just a price tag. In this lesson, you'll learn about the function of packaging, including how packaging is used in marketing. A short quiz follows the lesson.

Market Segmentation: Geographic, Demographic, Psychographic & More

5. 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.

Various Types of Target Marketing Strategies

6. Various Types of Target Marketing Strategies

Watch this video lesson, and you will learn about the ways in which businesses can market themselves. You will see that different products and services require different form of marketing to be successful.

What is Mass Marketing? - Definition, Advantages & Examples

7. What is Mass Marketing? - Definition, Advantages & Examples

Mass marketing is the advertising or promotion of a product, good or service to a wide variety of audiences with the expectation of appealing to as many people as possible. In this lesson, you will learn what mass marketing is and its advantages.

Niche Strategy in Marketing: Definition & Concept

8. Niche Strategy in Marketing: Definition & Concept

While some companies want to conquer the world, some just want a piece of it. In this lesson, you'll learn about niche strategy in marketing. You'll examine the different guidelines for getting into niche marketing and look at an example.

Marketing Implementation: Example Plans & Strategies

9. Marketing Implementation: Example Plans & Strategies

Implementation is one of the most important phases in a marketing plan. This lesson defines marketing implementation and provides a sample marketing plan with strategies.

Sales Forecasts, Marketing Metrics & Marketing Budgets

10. Sales Forecasts, Marketing Metrics & Marketing Budgets

Various tools in the marketing world can be useful for projecting and tracking plans and goals. In this lesson, you'll learn more about sales forecasts, marketing metrics, and marketing budgets.

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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