About This Chapter
Praxis Business: Marketing - Chapter Summary
Use these lessons to review basic information about marketing strategies, theories and applications. The engaging videos clearly present these critical topics:
- Marketing applications
- Situation analysis in marketing: SWOT
- Marketing, sales, production and societal marketing orientation
- Market segmentation: importance and types
- Marketing mix: product, price, place and promotion
- Consumer behavior and marketing theories
- Process for consumer decision making
- Consumer psychology in purchasing
- Consumer buying decisions: types and influences
At the end of each video, take advantage of the short quiz to check your progress. Go back and complete additional review on any necessary areas for mastery.
Praxis Business: Marketing Objectives
The marketing and management portion of this content knowledge exam composes about ten percent of the 120-question test. Watch all of the marketing videos to ensure a thorough understanding of the topics. You can demonstrate your knowledge of marketing mix, marketing principles and consumer behavior, in addition to your understanding of the necessary management objectives. The questions are multiple-choice, and you can choose to complete the paper or computer-aided format of this 2-hour test.
You earn one raw point for each correct answer. Each state sets its own required passing score. Your score report will show whether you passed, your score, the range of possible scores and the raw points possible in each section.
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. 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.
3. What is SWOT: Situation Analysis in Marketing
A successful business needs to know its capabilities as well as the marketplace in which it competes. In this video, learn how to define a mission statement and conduct a situational analysis.
4. Market Segmentation: Why Market Segments Are Important to Marketers
Marketing managers must understand the importance of segmenting a market and the specific criteria for successful segmentation. Before the 1960's, most companies tried to market products to the masses with declining success. It is important to identify key target markets!
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.
6. 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.
7. Consumer Behavior Theory and Marketing Strategy
Watch this lesson to find out how marketers can use predictions about our behavior to create a strategy that helps them reach out to us and influence our decisions to buy.
8. Understanding the Consumer Decision-Making Process: A Marketing Must
In this lesson, you'll see how a consumer moves through a decision making process in order to purchase a product or service. Learn what methods marketers use to take advantage of this process.
9. Consumer Psychology and the Purchase Process
Basic psychology concepts like learning, memory and conditioning can play a big role in dictating what we decide to buy. Watch this video to see how they work together.
10. Buying Behavior and Marketing: Types of Consumer Buying Decisions
Marketers must consider how consumers decide to buy their product. Consumers use nominal, limited, and extended decision making. Watch this video to learn more about the different types of consumer decisions.
11. Influences on Consumer Buying Decisions: Cultures, Values & More
External influences are all around us and play a large role in our buying decisions. Watch this video to see how cultures, values and other influences shape our purchases.
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Other chapters within the Praxis Business Education - Content Knowledge (5101): Practice & Study Guide course
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- Praxis Business: Personal Finance
- Praxis Business: Business Finance
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- Praxis Business: Written & Oral Communication
- Praxis Business: Employment Communication & Career Research
- Praxis Business: Economic Allocation of Resources
- Praxis Business: Economic Systems & Market Structures
- Praxis Business: Role of the Government in Economics
- Praxis Business: Economic Indicators of Growth
- Praxis Business: Entrepreneurship
- Praxis Business: Information Technology Operations and Concepts
- Praxis Business: Technology Tools
- Praxis Business: Computer Applications
- Praxis Business: Programming & Design
- Praxis Business: Foundations of International Business
- Praxis Business: International Business Environment
- Praxis Business: Contract Law
- Praxis Business: Consumer & Computer Law
- Praxis Business: US Court System
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