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Principles of Marketing

Designed to teach students the foundational principles of marketing in the digital age, this course uses current case studies and engaging, real-world scenarios to help students recognize and analyze marketing in business as well as in everyday life. The text introduce students to the principles of marketing. Unlike some marketing texts that treat digital marketing as an add-on, these course materials incorporate the use of data, digital communications and digital marketing strategies.

Marketing Business

Author: Lumen Learning
Publisher: LibreTexts
Source: LibreTexts
License: CC BY
Language: EN
Category: Marketing

Read online Download PDF (open licence)

Contents· 389 sections

01: What Is Marketing
1.01: Self Check- The Marketing Concept
1.02: Reading- Marketing and Customer Relationships
1.03: Self Check- Marketing and Customer Relationships
1.04: Outcome- How Organizations Use Marketing
1.05: Reading- How Organizations Use Marketing
1.06: Self Check- How Organizations Use Marketing
1.07: Outcome- Value of Marketing
1.08: Reading- The Value of Marketing
1.09: Self Check- Value of Marketing
1.10: Why It Matters- What Is Marketing
1.11: Putting It Together- What Is Marketing
1.12: Discussion- Self-Introduction
1.13: Outcome- Marketing Defined
1.14: Reading- Marketing Defined
1.15: Self Check- Marketing Defined
1.16: Outcome- Marketing in Action
1.17: Reading- Marketing in Action
1.18: Self Check- Marketing in Action
1.19: Outcome- The Marketing Concept
1.20: Reading- The Marketing Concept
02: Marketing Function
2.01: Reading- Communicating the Value Proposition
2.02: Self Check- Communicating the Value Proposition
2.03: Reading- Value Proposition Examples
2.04: Video- Coffee Shop Marketing
2.05: Self Check- Evaluating Value Proposition Examples
2.06: Outcome- Marketing Mix
2.07: Reading- Defining the Marketing Mix
2.08: Reading- Components of the Marketing Mix
2.09: Self Check- Marketing Mix
2.10: Why It Matters- Marketing Function
2.11: Outcome- Using the Marketing Mix
2.12: Reading- Finding the Right Marketing Mix
2.13: Case Study- Chobani
2.14: Self Check- Using the Marketing Mix
2.15: Outcome- Role of Marketing Plan
2.16: Reading- The Role of the Marketing Plan
2.17: Simulation- Ice Cream Magnate
2.18: Self Check- Role of Marketing Plan
2.19: Putting It Together- Marketing Function
2.20: Discussion- Analyzing Marketing Efforts
2.21: Outcome- Importance of Customer
2.22: Assignment- Submit Marketing Plan Template
2.23: Reading- Why Customers Matter
2.24: Self Check- Importance of Customer
2.25: Outcome- Segmentation and Targeting Introduction
2.26: Reading- Defining Your Target Market
2.27: Self Check- Segmentation and Targeting Introduction
2.28: Outcome- Communicating the Value Proposition
2.29: Reading- Value for the Customer
03: Segmentation and Targeting
3.01: Case Study- eHarmony Targets Women
3.02: Self Check- Segmentation Decisions
3.03: Outcome- Targeting and Marketing Mix
3.04: Reading- Targeting Strategies and the Marketing Mix
3.05: Case Study- Red Bull Wins the Extreme Niche
3.06: Simulation- Segmenting the Ice Cream Market
3.07: Self Check- Targeting and Marketing Mix
3.08: Putting It Together- Segmentation and Targeting
3.09: Why It Matters- Segmentation and Targeting
3.10: Outcome- Segmentation and Targeting Rationale
3.11: Reading- The Purpose of Market Segmentation and Targeting
3.12: Self Check- Segmentation and Targeting Rationale
3.13: Outcome- Common Segmentation Approaches
3.14: Reading- Segmentation Criteria and Approaches
3.15: Self Check- Common Segmentation Approaches
3.16: Outcome- Segmentation Decisions
3.17: Reading- Choosing a Segmentation Approach and Target Segments
3.18: Case Study - eHarmony Targets Women
04: Marketing Strategy
4.01: Reading- Optimizing the Marketing Mix
4.02: Reading- Implementation and Budget
4.03: Reading- Evaluating Marketing Results
4.04: Self Check- Marketing Strategy Mechanics
4.05: Outcome- Strategic Planning Tools
4.06: Reading- SWOT Analysis
4.07: Reading- BCG Matrix
4.08: Reading- Strategic Opportunity Matrix
4.09: Self Check- Strategic Planning Tools
4.10: Outcome- Examples of Corporate Strategies
4.11: Why It Matters- Marketing Strategy
4.12: Reading- Market Penetration Example
4.13: Reading- Market Development Example
4.14: Reading- Product Development Example
4.15: Reading- Diversification Example
4.16: Self Check- Examples of Corporate Strategies
4.17: Outcome- Customer Relationships
4.18: Reading- Customer-Relationship Strategies
4.19: Video- Harley Davidson Customer Relationships
4.20: Self Check- Customer Relationships
4.21: Putting It Together- Marketing Strategy
4.22: Outcome- Evaluate Alignment of Marketing Strategies
4.23: Assignment- Marketing Plan Part I
4.24: Video- What Is Strategy
4.25: Reading- Strategy and Tactics
4.26: Reading- The Mission Statement
4.27: Reading- Strategy and Objectives
4.28: Self Check- Evaluate Alignment of Marketing Strategies
4.29: Outcome- Marketing Strategy Mechanics
4.30: Reading- Creating the Marketing Strategy
05: Ethics and Social Responsibility
5.01: Reading- Privacy Laws
5.02: Reading- Fraud in Marketing
5.03: Self Check- Regulatory Laws
5.04: Outcome- B2B and B2C Marketer Ethical Dilemmas
5.05: Reading- Ethics in B2B Marketing
5.06: Reading- Gifts and Bribes
5.07: Self Check- B2B and B2C Marketer Ethical Dilemmas
5.08: Outcome- Ensuring Ethical Marketing and Sales
5.09: Reading- A Culture of Accountability
5.10: Reading- Executive Role in Ethics
5.11: Why It Matters- Ethics and Social Responsibility
5.12: Reading- Ethics for Marketing Employees
5.13: Simulation- Ethics
5.14: Self Check- Ensuring Ethical Marketing and Sales
5.15: Outcome- Social Responsibility Marketing Impact
5.16: Reading- Social Responsibility in the Marketing Strategy
5.17: Reading- Social Responsibility Initiatives
5.18: Self Check- Social Responsibility Marketing Impact
5.19: Putting It Together- Ethics and Social Responsibility
5.20: Discussion- Analyzing Social Responsibility
5.21: Outcome- Ethical Marketing Issues
5.22: Reading- Defining Ethics
5.23: Reading- Common Ethical Issues in Marketing
5.24: Reading- New Challenges in Marketing Ethics
5.25: Reading- Corporate Social Responsibility
5.26: Self Check- Ethical Marketing Issues
5.27: Outcome- Regulatory Laws
5.28: Reading- Product Liability
06: Marketing Information and Research
6.01: Reading- The Marketing Research Process
6.02: Self Check- The Marketing Research Process
6.03: Outcome- Marketing Research Techniques
6.04: Reading- Secondary Marketing Research
6.05: Reading- Primary Marketing Research Methods
6.06: Self Check- Marketing Research Techniques
6.07: Outcome- Marketing Data Sources
6.08: Reading- Marketing Data Sources
6.09: Self Check- Marketing Data Sources
6.10: Outcome- Customer Relationship Management (CRM) Systems
6.11: Why It Matters- Marketing Information and Research
6.12: Reading- Customer Relationship Management Systems
6.13: Self Check- Customer Relationship Management (CRM) Systems
6.14: Outcome- Using Marketing Information
6.15: Reading- Using Marketing Information
6.16: Self Check- Using Marketing Information
6.17: Putting It Together- Marketing Information and Research
6.18: Outcome- Importance of Marketing Information
6.19: Reading- The Importance of Marketing Information and Research
6.20: Case Study- Juicy Fruit Gum
6.21: Self Check- Importance of Marketing Information
6.22: Outcome- Types of Marketing Information
6.23: Reading- Types of Marketing Information
6.24: Self Check- Types of Marketing Information
6.25: Outcome- The Marketing Research Process
07: Consumer Behavior
7.01: Reading- Influences on Consumer Decisions
7.02: Reading- Situational Factors
7.03: Reading- Personal Factors
7.04: Reading- Psychological Factors
7.05: Video- Consumer Attitudes and Heinz Baked Beans
7.06: Reading- Social Factors
7.07: Self Check- Factors Influencing Consumer Decisions
7.08: Outcome- B2B Purchasing Decisions
7.09: Reading- Organizational Buyer Behavior
7.10: Video- Complexities of a B2B Solution Sale
7.11: Why It Matters- Consumer Behavior
7.12: Reading- The Organizational Buying Process
7.13: Self Check- B2B Purchasing Decisions
7.14: Putting It Together- Consumer Behavior
7.15: Discussion- Customer Profile
7.16: Outcome- Buying-Process Stages
7.17: Reading- The Black Box of Consumer Behavior
7.18: Reading- Buying-Process Stages
7.19: Self Check- Buying Process Stages
7.20: Outcome- Low-Involvement vs. High-Involvement Decisions
7.21: Reading- Low-Involvement vs. High-Involvement Decisions
7.22: Self Check- Low-Involvement vs. High-Involvement Decisions
7.23: Outcome- Factors Influencing Consumer Decisions
08: Positioning
8.01: Reading- Developing Positioning Statements
8.02: Self Check- Developing Positioning Statements
8.03: Outcome- Repositioning
8.04: Reading- Repositioning
8.05: Self Check- Repositioning
8.06: Outcome- Implementing Positioning Strategy
8.07: Reading- Implementing Positioning Strategy
8.08: Self Check- Implementing Positioning Strategy
8.09: Putting It Together- Positioning
8.10: Discussion- Positioning and Differentiation
8.11: Why It Matters- Positioning
8.12: Outcome- Defining Positioning and Differentiation
8.13: Reading- Defining Positioning and Differentiation
8.14: Self Check- Defining Positioning and Differentiation
8.15: Outcome- The Positioning Process
8.16: Reading- The Positioning Process
8.17: Video- Starbucks Delivers Community and Connection
8.18: Self Check- The Positioning Process
8.19: Outcome- Developing Positioning Statements
09: Branding
9.01: Outcome- Brand Positioning and Alignment
9.02: Reading- Brand Positioning and Alignment
9.03: Video- Red Bulls Extreme Brand Alignment
9.04: Self Check- Brand Positioning and Alignment
9.05: Outcome- Name Selection
9.06: Reading- Name Selection
9.07: Self Check- Name Selection
9.08: Outcome- Packaging
9.09: Reading- Packaging
9.10: Self Check- Packaging
9.11: Why It Matters- Branding
9.12: Outcome- Brand Development Strategies
9.13: Reading- Brand Development Strategies
9.14: Self Check- Brand Development Strategies
9.15: Putting It Together- Branding
9.16: Assignment- Marketing Plan Part 2
9.17: Outcome- Elements of Brand
9.18: Reading- Elements of Brand
9.19: Video- REI Builds Brand by Closing on Black Friday
9.20: Reading- Types of Brands
9.21: Self Check- Elements of a Brand
9.22: Outcome- Brand Equity
9.23: Reading- Brand Equity
9.24: Self Check- Brand Equity
10: Product Marketing
10.01: Reading- Stages of the Product Life Cycle
10.02: Reading- Marketing through the Product Cycle
10.03: Reading- Challenges in the Product Life Cycle
10.04: Self Check- Product Life Cycle
10.05: Outcome- Product Portfolio Management
10.06: Reading- The Product Portfolio
10.07: Reading- Achieving Portfolio Objectives
10.08: Reading- New Products in the Portfolio
10.09: Self Check- Product Portfolio Management
10.10: Outcome- New Product Development Process
10.11: Why It Matters- Product Marketing
10.12: Reading- Overview of the New-Product Development Process
10.13: Reading- Generating and Screening Ideas
10.14: Reading- Developing New Products
10.15: Reading- Commercializing New Products
10.16: Video- Target Product Design
10.17: Self Check- New-Product Development Process
10.18: Outcome- Challenges for New Products
10.19: Reading- Diffusion of Innovation
10.20: Reading- Improved Success in Product Development
10.21: Self Check- Challenges for New Products
10.22: Outcome- Products and Marketing Mix
10.23: Putting It Together- Product Marketing
10.24: Discussion- Product Strategy
10.25: Reading- Defining Product
10.26: Reading- Consumer Product Categories
10.27: Reading- Products and Services
10.28: Reading- Augmenting Products with Services
10.29: Reading- Product Marketing in the Marketing Mix
10.30: Self Check- Products and Marketing Mix
10.31: Outcome- Product Life Cycle
11: Pricing Strategies
11.01: Reading- Competitor Impact on Pricing
11.02: Reading- Benefits of Value-Based Pricing
11.03: Self Check- Pricing Considerations
11.04: Outcome- Common Pricing Strategies
11.05: Reading- Skim Pricing
11.06: Reading- Penetration Pricing
11.07: Reading- Cost-Oriented Pricing
11.08: Reading- Discounting Strategies
11.09: Self Check- Common Pricing Strategies
11.10: Outcome- Price Elasticity
11.11: Why It Matters- Pricing Strategies
11.12: Video- Elasticity of Demand
11.13: Reading- Elasticity and Price Changes
11.14: Reading- Products with Elastic and Inelastic Demand
11.15: Simulation- Demand for Food Trucks
11.16: Self Check- Price Elasticity
11.17: Outcome- Competitive Bidding
11.18: Reading- Competitive Bidding
11.19: Reading- Price in the Competitive Bid
11.20: Self Check- Competitive Bidding
11.21: Putting It Together- Pricing Strategies
11.22: Outcome- Pricing Impact on Value of Products or Services
11.23: Discussion- Pricing Strategy
11.24: Reading- Demonstrating Customer Value
11.25: Reading- The Psychology of Pricing
11.26: Video- Value in Branded Eyewear
11.27: Self Check- Pricing Impact on Value of Products or Services
11.28: Outcome- Pricing Considerations
11.29: Reading- Pricing Objectives
11.30: Reading- Break-Even Pricing
12: Place- Distribution Channels
12.01: Outcome- Managing Distribution Channels
12.02: Reading- Optimizing Channels
12.03: Reading- Third-Party Sales
12.04: Reading- Service Outputs
12.05: Self Check- Managing Distribution Channels
12.06: Outcome- Retailers As Channels of Distribution
12.07: Reading- Define Retailing
12.08: Reading- Types of Retailers
12.09: Reading- Retail Strategy
12.10: Self Check- Retailers As Channels of Distribution
12.11: Why It Matters- Place- Distribution Channels
12.12: Outcome- Integrated Supply Chain Management and the Distribution Strategy
12.13: Reading- Components of a Supply Chain
12.14: Reading- Integrated Supply Chain Management
12.15: Reading- Supply Chain and Channel Strategy
12.16: Self Check- Integrated Supply Chain Management and the Distribution Strategy
12.17: Putting It Together- Place- Distribution Channels
12.18: Discussion- Distribution Strategy
12.19: Outcome- Using Channels of Distribution
12.20: Reading- Define Channels of Distribution
12.21: Reading- Distribution Objectives
12.22: Reading- Channel Structures
12.23: Reading- The Role of Intermediaries
12.24: Reading- Marketing Channels vs. Supply Chains
12.25: Simulation- Distribution
12.26: Self Check- Using Channels of Distribution
13: Promotion- Integrated Marketing Communication (IMC)
13.01: Reading- Determining IMC Objectives and Approach
13.02: Video- Prioritizing Marketing Communications
13.03: Self Check- Determining IMC Objectives and Approach
13.04: Outcome- Marketing Communication Methods
13.05: Reading- Advertising
13.06: Reading- Public Relations
13.07: Reading- Sales Promotions
13.08: Reading- Personal Selling
13.09: Reading- Direct Marketing
13.10: Reading- Digital Marketing
13.11: Why It Matters- Promotion- Integrated Marketing Communication (IMC)
13.12: Reading- Guerrilla Marketing
13.13: Simulation- IMC Hero
13.14: Self Check- Marketing Communication Methods
13.15: Outcome- Using IMC in the Sales Process
13.16: Reading- Using IMC in the Sales Process
13.17: Self Check- Using IMC in the Sales Process
13.18: Outcome- Customer Relationship Management (CRM) Systems and IMC
13.19: Reading- Customer Relationship Management (CRM) Systems and IMC
13.20: Self Check- Customer Relationship Management (CRM) Systems and IMC
13.21: Outcome- Measuring Marketing Communication Effectiveness
13.22: Outcome- Integrated Marketing Communication (IMC) Definition
13.23: Reading- Measuring Marketing Communication Effectiveness
13.24: Self Check- Measuring Marketing Communication Effectiveness
13.25: Outcome- Developing a Marketing Campaign and Budget
13.26: Reading- Developing a Marketing Campaign and Budget
13.27: Self Check- Developing a Marketing Campaign and Budget
13.28: Putting It Together- Promotion- Integrated Marketing Communication (IMC)
13.29: Discussion- Marketing Campaign Concept
13.30: Assignment- Complete Marketing Plan
13.31: Reading- Integrated Marketing Communication (IMC) Definition
13.32: Reading- Marketing Campaigns and IMC
13.33: Self Check- Integrated Marketing Communication (IMC) Definition
13.34: Outcome- Defining the Message
13.35: Reading- Defining the Message
13.36: Self Check- Defining the Message
13.37: Outcome- Determining IMC Objectives and Approach
14: Marketing Globally
14.01: Self Check- Approaches to Global Competition
14.02: Reading- Demographic Factors Shaping the Global Marketing Environment
14.03: Reading- Cultural Factors Shaping the Global Marketing Environment
14.04: Reading- Institutional Factors Shaping the Global Marketing Environment
14.05: Self Check- Factors Shaping the Global Marketing Environment
14.06: Putting It Together- Marketing Globally
14.07: Discussion- Global Marketing
14.08: Assignment- Marketing Plan Peer Review
14.09: Why It Matters- Marketing Globally
14.10: Outcome- Globalization Benefits and Challenges
14.11: Reading- Globalization Benefits and Challenges
14.12: Self Check- Globalization Benefits and Challenges
14.13: Outcome- Approaches to Global Competition
14.14: Reading- Entry Strategies in Global Markets
14.15: Reading- Approaches to Global Competition
14.16: Video- McDonalds Glocalization
14.17: Reading- Applying Marketing Principles in the Global Environment
15: Marketing Plan
15.01: Reading- Using and Updating the Marketing Plan
15.02: Self Check- The Marketing Plan in Action
15.03: Putting It Together- Marketing Plan
15.04: Assignment- Marketing Plan Presentation
15.05: Why It Matters- Marketing Plan
15.06: Outcome- Elements of the Marketing Plan
15.07: Reading- Elements of the Marketing Plan
15.08: Self Check- Elements of the Marketing Plan
15.09: Outcome- Presenting the Marketing Plan
15.10: Reading- Presenting the Marketing Plan
15.11: Reading- Business Presentations
15.12: Self Check- Presenting the Marketing Plan
15.13: Outcome- The Marketing Plan in Action
16: Faculty Resources
16.01: Faculty Resources Overview
16.02: Pacing
16.03: Assignments