About This Chapter
Overview of Marketing - Chapter Summary
Check out this series of simple and engaging marketing lessons to study the foundations of the field. Our expert marketing instructors show you memorable examples of marketing applications, the marketing mix, customer value, marketing budgets and much more. If you need any extra help understanding the chapter's topics, you can submit questions to our instructors. You can also take the accompanying lesson quizzes and chapter exam to check your understanding of these basic marketing terms and concepts. By the end of the chapter, you should be equipped to:
- Understand the fundamental applications of marketing
- Explain the elements of the marketing mix
- Assess the importance of customer value in marketing
- Define several marketing concepts, including market share and marketing-oriented companies
- Evaluate the applications of marketing budgets, metrics, analytics and sales forecasts
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. 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.
3. What is Customer Value? - Marketing & Definition
In this lesson, we will learn the meaning of customer value and discover how consumers use customer value to make buying decisions. We'll also learn why companies must establish and maintain a high customer value for their products and services.
4. What is a Marketing Concept? - Definition & Examples
One of the biggest challenges for businesses today is attracting customers and keeping them. They do so through effective marketing. This lesson will identify five different approaches to marketing philosophies and provide examples for each.
5. Marketing-Oriented Company: Definition & Examples
Learn what a marketing-oriented company is and how a company can become more marketing-oriented. See examples of marketing-oriented companies, and take a short quiz.
6. What is Market Share? - Definition & Overview
Market share often will determine whether you succeed or fail in business. In this lesson, you'll learn about it and some of its key concepts. A short quiz follows the lesson.
7. Marketing Analytics & Metrics
In this lesson, we'll describe marketing analytics and metrics as well as predictive analytics and how these are used in today's marketing environment.
8. 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.
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Other chapters within the TECEP Introduction to Marketing: Study Guide & Test Prep course
- Marketing Planning & Strategy
- Market Research & Analysis
- Marketing Environment Basics
- Pricing Strategies in Marketing
- Consumer Behavior, Satisfaction & Loyalty
- Segmentation, Targeting, & Position in Marketing
- Marketing Ethics Basics
- Business Marketing Overview
- Global Business Marketing
- Product & Service Management
- Marketing Channels & Distribution
- Supply Chains & Logistics in Marketing
- Direct Marketing Communications
- Integrated Marketing Communications Overview
- Marketing & Social Media
- Personal Selling Communication
- TECEP Introduction to Marketing Flashcards