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Principles of Marketing

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marketing fundamentals essay

Copyright Year: 2015

ISBN 13: 9781946135193

Publisher: University of Minnesota Libraries Publishing

Language: English

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marketing fundamentals essay

Reviewed by Monisha Gupta, Assistant Professor, Marshall University on 1/2/23

The author of the book has shared that this is an adaptation of a work produced and distributed under a Creative Commons License (CC BY-NC-SA). The book has 16 clearly defined chapters, each chapter raises a specific aspect of marketing and... read more

Comprehensiveness rating: 4 see less

The author of the book has shared that this is an adaptation of a work produced and distributed under a Creative Commons License (CC BY-NC-SA). The book has 16 clearly defined chapters, each chapter raises a specific aspect of marketing and concludes by raising discussion questions and activities. The textbook covers most of the marketing topics that should be included in an introductory course. However, given that the book is dated it is missing some emerging and emergent topics in marketing such as global marketing, data analytics, digital marketing, and the use of social media tools, to name a few. The author has at the outset clarified that the book does not follow the tenets of the 4 Ps of marketing. However, substituting terms such as products or services with terms like “offerings “requires a much deeper understanding of consumer needs, wants, or behavior. This might require a higher level of understanding which might not be in line with the student profile who opts for this course. The author has restructured the traditional 4Ps of the marketing mix and introduces that marketing is composed of four activities centered on customer value: creating, communicating, delivering, and exchanging value. Also, the suggested activities created for each chapter are outside the scope of the chapter’s content. For instance, page 24, after Chapter 1 suggests activities such as “ Explain how the marketing goals, strategies, and markets for the nonprofit differ from a for-profit organization” or “Evaluate personal value equation”. These concepts have not been discussed in chapter 1 and are tackled later in the book by the author. These activities might not need more discussion and clarification before students can actively contribute to the solutions. Overall, the book covers most foundation-level content, but the choice of the author’s distinctive terminology might be a concern for students. Moreso, when they progress from this course to advanced levels of marketing and have trouble aligning the core concepts and keywords.

Content Accuracy rating: 5

Not an issue, the content is accurate and provides reference sources.

Relevance/Longevity rating: 4

The OTL textbook is well documented and breaks up the content into smaller and comprehensive blocks of information. If relevance is measured based on the traditional acceptance and present outlook it might fall a little short. The book lacks this by disregarding some key changes in the marketplace such as the pandemic and its impact on consumption cycles, and the emergence of a large service industry. This has reshaped the consumer’s and marketers’ choices of development processes, channel partners, pricing strategies, promotional methodologies, use of social media tools, etc. These aspects need to be addressed in more detail with recent examples for students to appreciate the relevance.

Clarity rating: 5

The author has outlined the content in great detail, making it easy to read and understand the textbook. Easy conversational language and links, for example, appeal to students who can find a great deal on the electronic medium.

Consistency rating: 5

The chapters in the textbook are organized in the same consistent manner in the entire book. This is helpful for the readers and instructors to follow a format.

Modularity rating: 4

The text is easily and readily divided into smaller reading sections that can be assigned. This lends itself to assigning modules by chapters and units within the chapters.

Organization/Structure/Flow rating: 4

I have been teaching this course for the past 4 years and have found that explaining what a marketing plan is and then studying the various stages helps the students appreciate the various phases in this process. This textbook has taken a completely different approach by explaining the marketing plan at the end. While the topics are the same the structure impacts the flow and, in my opinion, the ability to hold the student’s interest. I suggest moving Chapter 16 to Chapter 3 followed by Chapter 5.

Interface rating: 3

The textbook was last updated in 2010, making all images, figures, tables, and video clips mildly outdated. The power of audio-visual aids is very powerful, and the quality is becoming better and better. To keep the students engaged the author might like to consider using technology for simulations, video assignments, etc., these can be useful for the students.

Grammatical Errors rating: 5

I found no grammatical errors, the content is well-written and easily understandable. The language used is conversational and something the students should find easy to navigate.

Cultural Relevance rating: 4

Global and international marketing are the mainstays for today, these aspects have not been addressed in the textbook. It warrants at least a chapter on world cultures, the emergence of MNCs, and geo-demographics relevance. It is important to acknowledge that demographic profiling needs to incorporate cultural diversity. The textbook has all US-based industry examples and consumer responses, ignoring the diverse consumer profile even within the US.

Overall, it is a great attempt to provide such detailed material for the students. Given that it was uploaded in 2010 the book needs to be updated to include more current and global marketing aspects. The textbook was created for an entry-level course in marketing. I enjoy the way the author shares the various career options available for marketing majors. However, the student profile who takes this course includes students who major in finance, and journalism. PR, management, etc. It would be relevant for them to see how these skills are transferable and useful in other work fields. The suggested activities need to be more application based and limited to the content of the preceding chapter. More global and culturally applicable examples need to be included.

Reviewed by Rich Metzger, Adjunct Professor, Massachusetts Bay Community College on 11/24/22

The OTL textbook covers the basic principles necessary to form a marketing foundation. The content should be updated to reflex the Pandemic and Post-Pandemic marketing environment. I felt some topics needed more discussion, and explanation, such... read more

The OTL textbook covers the basic principles necessary to form a marketing foundation. The content should be updated to reflex the Pandemic and Post-Pandemic marketing environment. I felt some topics needed more discussion, and explanation, such as a breakdown by age and characteristics of the population.

Content Accuracy rating: 4

The OTL textbook is relevant and is a good guide to basic marketing principles but could be better. I prefer the OTL textbook to include recent marketing techniques and strategies used in today’s difficult business environment. This ranges from the advent of the non-store or virtual retailing, broken supply chains, damaged distribution channels, inflation, digital marketing, content streaming, and social media, just to mention a few new topics.

I found the OTL textbook easy to read and understand. Good comprehension level and in the use of examples, figures, and images to illustrate or compliment the text.

The OTL textbook’s material is laid out in a logical sequence, culminating with the last chapter dedicated to the Marketing Plan.

Modularity rating: 5

Chapters progress in a logical manner, allowing the reader to digest the material and prepare for the next chapter.

Organization/Structure/Flow rating: 3

The organization, structure, and flow of the material are fine, but my concern is the lack of an index and a single depository for key terms and chapter highlights.

Interface rating: 4

The images, figures, tables, and video clips need to be revisited for relevancy. The use of these visual aids helps the reader better understand the topics being discussed.

The content is well written, very limited if any grammatical issues. To make the textbook more relevant, consider using socially accepted pronouns, which in turn would elevate the textbook to today’s sociality expectations.

Cultural Relevance rating: 3

A chapter on world cultures and the different business nuances and practices (ethics) would be beneficial to a student learning about marketing.

As this is my first experience dealing with OER, I wanted to be fair and open to the possibilities presented by this new resource. For comparison purposes, I used my adopted textbook vs the OTL textbook. My goal is to decide if I could adopt the OTL textbook. Similarly, the adopted textbook and the OTL textbook are for a 100-level course. Both textbooks offer entry-level content, relevant material, easy to read and comprehend, more than enough chapters to fill a semester, Contents, Chapter titles, Learning Objectives, topics, images, figures, examples, video clips, Discussion/Review Questions, Activities, and both textbooks offer a test bank. The OTL textbook has Key Takeaways for each topic presented in a chapter, and the adopted textbook has a section in the back of the textbook titled Chapter Review, which contains Learning Objectives and Key Terms. Differences, the adopted textbook has a price point, an OTL textbook lacks an Index, and the adopted textbook offers PowerPoint Slides, Instructor’s manual, Rubrics, and Case Studies. I was unable to find an Instructor’s Resources section for the OTL textbook, but the OTL textbook provides students with financial relief. I believe I could adopt this textbook with a minimal number of self-adjustments.

Reviewed by Victoria Shaw, Assistant Professor of Marketing, Anderson University on 3/11/22

The book does a good job of highlighting basic marketing principles. However, I do find it lacks the basics of e-commerce (just basic industry terms like SEO), global marketing principles (especially B2C), and using tools like PEST analysis for... read more

Comprehensiveness rating: 3 see less

The book does a good job of highlighting basic marketing principles. However, I do find it lacks the basics of e-commerce (just basic industry terms like SEO), global marketing principles (especially B2C), and using tools like PEST analysis for external assessment. I think the chapters on B2B behavior and Sales while good, may not be the most value-add for the students in class.

No glaring errors at first glance.

Relevance/Longevity rating: 3

Imagery is very dated. The chapters use the four basic P's, though the latest books tend to introduce up to eight.

Overall, seemed clear and comprehensive. I think the book would have benefitted from multiple, additional visuals to clarify complex topics.

Consistency rating: 4

Seemed consistent across chapters

I liked the way the topics were broken into micro concepts - makes it easy to assign the portions I find most relevant and supplement when needed.

Organization/Structure/Flow rating: 5

Structure was logical and sequential.

A bit text heavy at times but errors.

No grammatical errors on first read.

I think the author missed the opportunity to bring marketing to a more global context.

This is a great principles textbook overall. My only complaint is because of some omitted or abbreviated topics, an instructor may have to supplement a bit more in order to ensure the curriculum is up to industry standards. But in a larger class where schedules only allow for selected topics to be covered, this would be a very good start.

Reviewed by Amy Strunk, Lecturer, James Madison University on 11/29/21

Basic marketing concepts are covered with sufficient depth, but newer concepts are missing (like digital marketing). read more

Basic marketing concepts are covered with sufficient depth, but newer concepts are missing (like digital marketing).

Some of the information is dated: for example, most would agree that we are not in the relationship era of marketing, but the textbook states that we are in an undefined era (which would have been true 10 years ago).

The book uses “creating, communicating, delivering, and exchanging value” as elements of the marketing mix/strategy rather than the 4 P’s, and actively argues against the 4 P terminology, which is controversial.

The book also uses "offerings" instead of "product". The authors argue for it effectively, but I don't know anyone in the marketing world who uses that term in the real world.

Relevance/Longevity rating: 2

References are dated: - Foursquare (college-age students in 2021 will have no idea what this is) - Some images are out of date (retrieved in 2008) - Mission statements on p. 27 are outdated and reference links are broken. - References to iPod in the time of iPhones

These references will continue to grow stale.

The content is pretty straight forward. Definitions are clear.

The book is consistent in its own frameworks/terminology (stubbornly so).

Modularity rating: 3

Some of the longer sections could benefit from headings and subheadings.

I would recommend that market research come before the "Creating Offerings" section since that process is so integral to product (or "offering") development.

Interface is sufficient.

Some small issues, for example, using the term “Droid” smartphones on page 6—should be Android.

I did not notice any concerted effort to include diverse backgrounds in this text.

Marketing is changing rapidly thanks to technology, and this book is too outdated to address issues like data privacy and hyper-targeting.

Reviewed by Matthew Lunde, Assistant Professor, Pittsburg State University on 6/4/21

the textbooks is very thorough in covering all the topis needed in a principles of marketing class. It even adds a chapter that is not in many other textbooks: "The Marketing Plan." However, my only criticism is that it does not touch on a huge... read more

the textbooks is very thorough in covering all the topis needed in a principles of marketing class. It even adds a chapter that is not in many other textbooks: "The Marketing Plan." However, my only criticism is that it does not touch on a huge topic area nowadays in marketing: sustainability (sustainable marketing and sustainable competitive advantage).

The content is objective, thorough, and accurate. It uses statistics and example businesses and situations effectively to help teach younger college students the fundamentals of marketing.

Relevance/Longevity rating: 5

The content is up-to-date as best as it can be. Whenever any textbook uses statistics, years, numbers, and other figures, it can date the textbook; however, the content is written in a way that it will last for multiple years to come.

Clarity rating: 4

There is some jargon, but the jargon used is needed to help teach the fundamentals of marketing to new students.

It is great how all the terms in the chapters are easy to find and to read because each term is bold.

Yes, the book is broken down into manageable sections for a younger college student to read and interpret effectively and efficiently.

Yes. This textbook is laid out very well. However, one thing I would add in the chapter titles would be "retailing."

Good! Nothing to add here!

Grammatical Errors rating: 4

The book is written well, free of grammatical errors. However, I see "he or she" is used. Nowadays, for inclusivity, the right pronoun to use would be "they."

However, I see "he or she" is used. Nowadays, for inclusivity, the right pronoun to use would be "they."

Reviewed by Felix Flores, Assistant Professor of Marketing, Metropolitan State University of Denver on 4/17/21, updated 5/26/21

The textbook sufficiently covers areas and ideas of subjects and is easy to navigate. I would find it useful to include and discussed an example of an actual marketing plan. read more

The textbook sufficiently covers areas and ideas of subjects and is easy to navigate. I would find it useful to include and discussed an example of an actual marketing plan.

The textbook's content is mostly accurate, error-free, and unbiased.

Some of the links and examples may be dated but contribute to the chapter's main ideas. There are, however, some links that do not work or could be replaced with newer examples. I would recommend reviewing all of the provided links.

The textbook is written in a clear manner.

The textbook is mostly consistent in terms of terminology and framework.

The textbook is easily divisible into smaller reading sections that can be assigned at different points within the course.

The topics are presented in a logical, clear fashion.

Interface rating: 5

The text is free of interface issues or navigation problems.

There may be a small room for improvement in terms of grammar.

I believe the textbook is mostly culturally relevant.

I believe that you can effectively teach a Principles of Marketing class with this textbook, on its own, and especially in combination with other OER textbooks/resources. It will require, however, checking all of the links and updating some examples.

Reviewed by Diane Edmondson, Adjunct Professor, Trine University on 4/16/21

Overall, this textbook covers a majority of the marketing topics that should be covered in a Principles of Marketing class. Since the book is somewhat dated, there is limited coverage on both digital marketing and social media as well as marketing... read more

Overall, this textbook covers a majority of the marketing topics that should be covered in a Principles of Marketing class. Since the book is somewhat dated, there is limited coverage on both digital marketing and social media as well as marketing analytics. These two topic areas have revolutionized the marketing field. However, this marketing textbook contains all of the other key marketing concepts such as the 4 P's of marketing, strategic marketing, target market strategies, consumer and business buying behavior, and how to craft a marketing plan.

Overall, this textbook is accurate and error-free. It does not appear to be biased in any way.

Overall, this textbook is still highly relevant. It is missing some more detailed information related to digital marketing, social media, and marketing analytics as these have drastically changed the marketing field over the past decade; however, the content covered is still relevant to both business-to-business and business-to-consumer markets.

One of the best things about this book is that it is easy to read. The text is written in a way that students should not have a difficult time understanding the concepts being covered. There are multiple examples given for each major topic to help students better understand the material. Terminology is defined to aid understanding.

Overall, a consistent framework is used throughout this textbook. The flow and chapter ordering of the textbook makes natural sense with how it would be taught in the classroom.

The text is made up of 16 chapters; however, each of the chapters is then broken up into multiple subsections. This allows the text to be easily and readily divided into smaller reading sections, based on the desire of the instructor and/or reader.

The chapter layout of this textbook is similar to many other Principles of Marketing textbooks. Topics are presented in a logical and clear manner, which aids readability and understanding.

Overall, the images, charts, tables, and figures were clearly displayed without any distortion. There are a few navigation links that no longer function; however, these are minimal in number.

The Principles of Marketing textbook appears to be free of grammatical errors.

There are a variety of diverse examples throughout the text. None of these should be viewed as culturally insensitive or offensive in any way.

Overall, this textbook is well written and covers most of the major marketing topics. The few topics not covered are primarily because these became dominant marketing elements after this textbook was published originally.

Reviewed by Ricardo McCoy, Adjunct Professor, Trine University on 3/3/21

I have been facilitating marketing, analytics, sales, and consumer behavior classes since 2009 and this textbook does a good job of covering all of the marketing mix. Most important, the content is updated and relevant. The layout is... read more

Comprehensiveness rating: 5 see less

I have been facilitating marketing, analytics, sales, and consumer behavior classes since 2009 and this textbook does a good job of covering all of the marketing mix. Most important, the content is updated and relevant. The layout is user-friendly and easy to read.

Based on similar marketing text books I have read, this textbook is accurate and contains content that someone who is unfamiliar with marketing concepts will easily understand. The use of examples throughout the textbook is a good way to help a beginner to marketing understand the subject matter.

I like how this book understands how marketing has changed and explains variables in the environment that is effecting this change. This can be seen in Chapter 1 concerning some of these changes:

Ethic and Social Responsibility Sustainability Service-dominant logic Metrics A Global Environment

It is good to see that the textbook is up-to-date and recognizes that marketing must adapt to these changes. Some of the marketing textbooks I read in the past do not recognize these changes.

Overall, the information throughout the chapters was easy to understand. I like how examples were used throughout each chapter. My only recommendation is to add more illustrations consistently throughout the textbook. Based on my experience, most students like to see illustrations (visualize). I think this helps him or her to understand the subject matter.

Overall, the content throughout the textbook is consistent. However, I notice that some of the chapters have more illustrations than other chapters. I think that using more illustrations (and examples) would make the chapters more user-friendly.

P.S. Links to additional resources would also be a good addition.

The sequence throughout the textbook “flows” from section to section. I like the synergy from chapter to chapter. This helps the student to understand how various factors of marketing work together.

I like how Chapter 1 gives a brief description of marketing while summarizing what will be discussed in the preceding chapters. I also like the “key takeaways” at the end of each chapter. The "review questions" are brief, yet add to what was discussed throughout the chapter. This is good to see.

The overall functionality of the textbook is good. The font size and white space makes the content easy to read. I like the use of color throughout the textbook. For example, the use of green for the “Key Takeaway” and blue for the “Review Questions”.

Although it is difficult to check all the content, I did not see any typos or “wordy” sentences. I like how the content “talks to” rather than “talks at” the student.

Cultural Relevance rating: 5

This is a difficult question to answer because I did not see anything that was insensitive or offensive. Ideally, the content would continue to embrace diversity and inclusion. This is important because we live in a global economy.

I think that Chapter 5 (“Marketing Segmentation, Targeting and Positioning”) should be followed by Chapter 10 (“Gathering and Using Information: Market Research and Market Intelligence”). Both of these chapters are closely related. To properly perform segmentation and targeting, you must understand analytics / gathering information. I was also looking to see slightly more insights on digital analytics in Chapter 10.

Reviewed by Markus Biegel, Adjunct Faculty, California State University, Dominguez Hills on 8/12/20

I compared it to the McGraw Hill book that I have been using for the past 4 years and the topics (Chapters Topics and Sub-Topics) are pretty identical just in a slightly different order. When looking into how in-depth the book goes, it is not... read more

I compared it to the McGraw Hill book that I have been using for the past 4 years and the topics (Chapters Topics and Sub-Topics) are pretty identical just in a slightly different order. When looking into how in-depth the book goes, it is not quite as comprehensive as the McGraw Hill book. However, it is easy to read.

Marketing always is a bit subjective. I think the book does a great job covering all the important topics as unbiased as possible.

This is a basic marketing course focused on teaching students the fundamentals, the book does a good job at that. Given the current COVID situation, a lot of things have changed in business but not the fundamental theories and practices of the profession. Because of that the relevance of the book is current in my opinion.

The text has a logical flow. There is certainly room for improvement from a formatting standpoint. I think it makes it easier for students to learn key terms and key concepts when they are highlighted on the sidebar (similar as in many mainstream textbooks).

Certainly consistent and comprehensive in all the key terms that this book should cover for Principles of Marketing.

The text is very easy to read. There is good spacing in between the paragraphs and graphics/images help further give the mind a reading break. I also think it is great that links are included to videos, this helps students get a "reading break" which is essential when cramming in a few chapters to study for an exam.

Very well organized text. I just wish the key terms and key concepts were featured separately in an almost duplicate fashion on the side of the main text. I think students are used to using these highlighted areas to study for exams.

Didn't notice any problems with the interface. Could have perhaps used better images here and there but overall does the job.

I am not an English professor and this is my second language but I did not notice any grammatical errors. I am sure there are some, including mistyped words but every book I have used had a few of those.

One of the key concepts in Principles of Marketing is target marketing which certainly can be interpreted as offensive to some people. However, I think the book does a great job at explaining the concept. Again, marketing leans into being somewhat controversial based on the subject matter and business practice.

Can't beat a free book. Seems like a great resource to use for students.

Reviewed by Kirti Celly, Professor, California State University, Dominguez Hills on 8/10/20

Principles begins with a question to spark curiosity for the novice student of marketing. Organized into 16 chapters, it takes a traditional strategic planning, consumer and buyer behavior, research and 4Ps approach that addresses all major areas... read more

Principles begins with a question to spark curiosity for the novice student of marketing. Organized into 16 chapters, it takes a traditional strategic planning, consumer and buyer behavior, research and 4Ps approach that addresses all major areas and ideas in a core marketing class. Given the importance of ethical decision making, it needs to add/bolster content on ethics in marketing and add an index/glossary.

Accurate content with image sources and references. I have not tested all these links.

Since the focus is core content, it is written in a nuts and bolts manner and will stay perennial. Consistent with the conditions of use, the text’s simplicity allows for it to be modified easily.

Written professionally and in simple sentences, this makes for accessible, adequate and easy to understand content. Marketing concepts are defined simply and succinctly throughout.

The key take-aways and review questions after each section of a chapter are supplemented by end of chapter discussion questions and activities throughout. This fits nicely with Bloom’s learning taxonomy.

This is a key feature of this book and one most appreciated by my students.

Another key feature of this book, and one appreciated by my students.

Other than a few formatting and pagination issues, nothing to note. Any links I used worked. For the manner in which I use this book as basic material for my classes, not having an excess of photos and images in the body actually works well. Having URLs for case examples also facilitates easy revision and adaptation for various local and regional teaching and learning contexts.

Simple, easy to read, accessible. I did not notice any grammatical errors.

This is less about this book than about the way in which most business textbooks are written. It is in no way offensive; in fact, its style and variety of examples promotes inclusion and it is adaptable to alternate cultural contexts through a shift in frame to include broader contexts.

Our students appreciate having an accessible zero cost course materials course with adds ons from me, the press, and other OER, and low cost or no cost AV materials and marketing math. Thank you.

Reviewed by Sheryl Spann, Marketing Instructor, Oregon State University on 7/28/20

The textbook begins with the question “What is Marketing?” to assist students new to the field of marketing to understand the real definition of marketing versus their perceived ideas of marketing. This is a great place to start as many students... read more

The textbook begins with the question “What is Marketing?” to assist students new to the field of marketing to understand the real definition of marketing versus their perceived ideas of marketing. This is a great place to start as many students either believe that marketing is strictly sales or do not have a full concept of the many aspects of what encompasses marketing. The text covers most of the key areas of marketing such as consumer behavior, market segmentation and target marketing and the principals relating to product, pricing, placement and promotion. Marketing research, new product development and marketing communications is also covered at a basic level. However, based on my experience in the classroom, a few suggestions are in order. I would add three additional chapters on international marketing, market expansion strategies and ethics and social responsibility. The chapter on professional selling could be removed or covered within chapter one as a portion of the explanation on the aspects of marketing. Lastly, I would add more current marketing articles, one-page cases and small group discussion questions to each chapter. For marketing majors, I would add an appendix at the back of the book discussing the various career opportunities in marketing.

The book content is accurate with terminology and marketing concepts accessible for a university level student. The textbook also cites sources for most of the provided information.

In addition to the textbook content for teaching marketing principals, there are many real-world examples offered to improve student understanding. Although most offer longevity, there is a need to augment current examples with more recent examples including company or product examples representing cultural diversity.

The text is easy to read with a combination of informal and professional language for appropriate student learning and understanding.

The text is internally consistent and provides actual examples of the principals covered as well as review questions to ensure student comprehension. This approach is inline with other “Principals of Marketing” textbooks.

The course material is listed in modular fashion to easily transfer to canvas. However, since “Principals of Marketing” is usually the first marketing course for majors and the only course for this topic for non-majors, I would place the chapter on “Strategic Planning” right before the last chapter on “The Marketing Plan”. As indicated in the “comprehensiveness” section of my comments, I also believe that a few topical chapters such as “International Marketing” should be added to the book to improve its overview of the topic.

In general, the topics are presented and organized in an effective format. The text starts with overarching definitions and concepts and then moves toward providing more details on each topic. I believe that the “Strategic Planning” chapter should be moved to the end of the book before “The Marketing Plan” to ensure that students have the foundation needed to better understand this topic plus use its strategic perspective in the development of a marketing plan.

There did not appear to be any interface issues for this book. All video and web page links also worked well.

The text did not have any grammatical errors.

Although cultural examples were included and relevant, additional cultural diversity elements would improve the book. Also, it is important to include examples that are more current to provide better student discussions of this important marketing topic.

Overall, this textbook is a suitable option for an entry level college course on “Marketing Principals”. Adding chapters on “International Marketing”, “Market Expansion Strategies” and “Ethics & Social Responsibility” as well as updating some of the chapter business examples, case studies and discussion questions would be very helpful plus keep this book “current”. Lastly, including a greater overview of the marketing aspects of cultural diversity plus marketing career options would cause this book to stand out among textbook options for this topic.

Reviewed by Zahra Tohidinia, Assistant Professor, Framingham State University on 6/12/20

The text offers a very good review of key marketing principles and provides a comprehensive introduction to the main concept. I would suggest combining the textbook with relevant current marketing articles and cases. read more

The text offers a very good review of key marketing principles and provides a comprehensive introduction to the main concept. I would suggest combining the textbook with relevant current marketing articles and cases.

The content is accurate and the textbook cites sources for most of the provided information.

The content is relevant to marketing. There are a solid number of examples throughout the book. The content related to digital marketing/social media could be expanded, but overall the content is relevant and robust.

The text is easy to read and provides a good balance of informal and professional language.

The structure of the text is consistent and the book gives example-based explanations of the main concepts. There are review questions at the end of each section as well as discussions and activities at the end of each chapter.

The text is easy to navigate. The book is divided into smaller segments. A hyperlinked (clickable) table of contents makes it really easy to move between different chapters and their corresponding sub-segments.

The topics are presented and organized in an effective format. The text starts with overarching definitions and concepts and then moves toward providing more details on each topic.

The links to the videos that I clicked on worked and each opened a new tab. As mentioned before, the hyperlinks make it very easy to navigate between different sections. In some cases, the image headings were separated from the actual image because of page breaks which can be revised in later editions.

The consumer behavior chapter does a good job with embedding cultural variables into the discussion. This could have been integrated more effectively in the other chapters; especially the chapters involving marketing research and intelligence, as well as market segmentation and positioning

This book covers the main concepts of marketing very effectively. This textbook combined with current articles and relevant cases could serve as a comprehensive set of materials for introductory marketing courses at the undergraduate level.

Reviewed by Christian Gilde, Business Faculty, University of Montana - Western on 1/31/20

The textbook has enough depth and addresses all the major parts of the marketing discourse, such as the environment, marketing strategy, consumer behavior and segmentation, and marketing research, as well as the product, place, price, and... read more

The textbook has enough depth and addresses all the major parts of the marketing discourse, such as the environment, marketing strategy, consumer behavior and segmentation, and marketing research, as well as the product, place, price, and promotion variables.

The explanations, terminology, and concepts in the text are accessible and accurate.

The textbook contains applicable examples of marketing that will help the audience learn and appreciate the marketing realm. Most pieces and examples in the book have longevity. A few applications might need to be updated to make the text more timely.

The text is accessible and will help guide the students through the different dimensions of marketing.

The given text follows a certain presentation canon in terms of marketing terminology, concepts, and applications that can be found in textbooks of similar nature.

Many textbooks in marketing follow a certain modular pattern. This same pattern can be found in this text, with each chapter being split into sections for which particular assignments and experiential learning activities are designed.

As far as the organization and structure of this work are concerned, the marketing text is in line with a good number of other principles texts. The structure, flow, and positioning of the different marketing topics within the individual chapters is logical, with the objectives in the beginning and a re-visitation of the key points and review questions at the end.

The functionality of the text seemed to be working. Web links, images, and figures allow for easy direction-finding.

A few minor grammatical and structural errors can be found in the text.

The cultural illustrations are relevant, to a certain extent. However, it might be useful to update some of these items.

The material in this text is suitable for a basic marketing course. Overall, I would recommend using this text for entry level marketing students.

Reviewed by Kelly Atkins, Associate Professor, East Tennessee State University on 10/21/19

The text contains the expected chapter topics related to Principles of Marketing. In my opinion, there is too much information about Professional Selling (Chapter 13) for the topic of the text. In my opinion, Chapter 11 should include a... read more

The text contains the expected chapter topics related to Principles of Marketing. In my opinion, there is too much information about Professional Selling (Chapter 13) for the topic of the text. In my opinion, Chapter 11 should include a discussion of the basic Communications Model as well as some more modern communications models.

The text content appears to be accurate, error-free and unbiased. In my thorough review, I found nothing to the contrary.

The text contains many relevant, current examples of marketing concepts as well as some images of marketing examples and nice video clips of marketing examples. Some examples in Chapter 2 are from 2006, 2007, 2008 & 2009. These 10+ year old examples are too old to be relevant to students who are only 20 years old. I like the application of marketing concepts to the world of business and to personal branding.

The “voice” of the text is conversational yet professional. The terms used throughout the text seem to be in alignment with other Principles of Marketing textbooks I have used previously.

The text seems to be internally consistent. I saw nothing to indicate otherwise.

The text is organized effectively in most ways, but I have a recommendation. Chapter 3 should be divided into more sections. There are too many learning objectives and key takeaways for section 3.1.

There are significant organization problems in Chapters 4,8 & 13. Each of these chapters is out of order. For example, Chapter 4 is presented in the following sections: 4.4, 4.5, 4.6, 4.7, then 4.1, 4.2, 4.3. The same is true of Chapters 8 & 13.

The way the pages are presented with extra lines on many pages, with figure titles on different pages than the actual figure, or with figure numbers on a different page than the figure itself. See Figures 1.3 and 1.4 in Chapter 1 as examples.

I did not notice any grammar problems in the text (and I typically find lots of grammar problems when I am editing).

In my opinion, he text is culturally sensitive.

• I really like the “key takeaways” and “review questions” at the end of the sections instead of a summary at the end of the chapter. • I would add key terms at the end of each section because the terms and definitions seem to get lost within the chapters. • The “activities” at the end of the chapter are unique and creative. I would use these ideas for my classes.

Reviewed by Donald Chang, Professor, Metropolitan State University of Denver on 4/29/19

The textbook provides basic coverage of main concepts found in most principles of marketing. Overall, the discussion throughout the book tends to be less comprehensive. In some areas, the author glossed over without providing sufficient details.... read more

The textbook provides basic coverage of main concepts found in most principles of marketing. Overall, the discussion throughout the book tends to be less comprehensive. In some areas, the author glossed over without providing sufficient details. To introduce basic concepts, it might be sufficient. For deeper understanding and analysis, it will require additional reading and research by readers. For example, in the very beginning, the author claimed "... about 1950 to 1990, businesses operated in the marketing era" without providing supporting materials to bolster the claim. The discussion also skipped a commonly known period when emphasis on selling was prevalent, skipping from product concept to marketing concepts, while ignoring the discussion on social responsibility in the 80s.

Accuracy is not a major issue for this book. Most contents are explained adequately for concept delivery.

Most basic concepts in marketing, e.g., product life cycle, buying process, pricing strategies, are mostly time free, thus, stay relevant regardless of changes in the marketplace. Examples used are apparently out of date, e.g., iPad. Many of the examples are prior to 2010 so that examples need to be updated to be relevant to today's students. Most basic content is consistent with other textbooks, just on a shallow side.

For marketing, the key strategic decisions are in segmentation, targeting, positioning, and differentiation. It would be probably more appropriate to place strategic planning close to the chapter on segmentation, targeting, and positioning. With so much content in marketing to cover, a standing-alone chapter on professional selling is uncalled for. After all, personal selling is only one of the element of promotion and most companies prefer to train their own sales force, thus very company/product specific, not something could be covered effectively in a principles of marketing textbook. It also incorrectly over-inflates the role of sales in marketing curriculum. Most students, business and non-business, do not see professional selling as their career aspiration either, if they have the choice.

There is an obvious omission in international marketing. The author's claim that global coverage is built in throughout the textbook cannot be observed. Without having a devoted chapter in international marketing, some basic concepts in international management are not presented. The same is for sustainability, ethics, and social responsibility. The author seemed to understand their importance, but not important enough to have their own sections. On the other hand, the author had no issue in having a chapter in professional selling without clear justification for its inclusion. These are obviously the author's own selection bias and personal preferences, not necessarily what students ought to learn from the course.

The writing is good for average college students. It is mostly easy to follow.

The book used "offerings" when referring to products and services consistently throughout the book. Each chapter is presented with discussion questions, activities, key takeaway, review questions with consistent structure and writing style.

The book is organized in a module-like manner, with most materials being free-standing, allowing a section to be borrowed for another marketing course as needed. As the writing is on the succinct side, there is rarely a long writing blocks without division.

While the book is structured well overall, the placement of strategic planning in the very beginning (Chapter 2) is probably off. Students need to know about the subject more before jumping into strategic planning. Other than chapter placement, the overall organization is adequate.

There are no known serious interface issues that are present. Graphs, charts, pictures are clear and easy to see and follow. A few enhancements to market the headings and sub-headings could be added to better break up sections. As examples, "Video Clip" on page 272, 273 could be better presented. The headings are easily overlooked as presented. At times, the reader might not be aware that the topic has shifted to a new one.

The book is grammatical correct overall.

There are no obvious concerns of being culturally insensitive or offensive.

The book is a possible alternative for average high school and college students if the goal is to learn the very fundamental concepts in marketing. For students who look for deeper understanding, this is not the right book for them as much discussion is on the shallow side. The author's own opinions can be found throughout the book without adequate supporting materials. Therefore, it is subject to the author's self selection bias. For marketing major students, I would expect students to learn more than what are presented in this book.

Reviewed by Nicole Lytle, Faculty Lecturer, LaGuardia Community College on 4/24/19

This resources covers all the relevant topics traditionally covered and necessary for an introduction-level course. The material is presented in comprehensive way. read more

This resources covers all the relevant topics traditionally covered and necessary for an introduction-level course. The material is presented in comprehensive way.

I found the text to be accurate, and in line with current marketing practices and pedagogical materials.

The resource is current, but some examples are a bit dated. The instructor using this resource should check all links and examples before assigning.

The resource is clear and easy to understand.

The terminology and framework are consistent with current concepts and expectations of an introductory level course.

The text is well organized; it also lends itself to skipping around and changing the order of the material as the instructor sees fit.

Topics presented are in a logical manner - learning objectives, terms, examples/diagrams, key takeaways, and review questions.

The interface is clear and easy to navigate - clicking images isolates them, which is a good tool for some visual learners.

No grammatical errors were found.

The resources is not culturally offensive, but it also misses the mark for cultural inclusion.

Reviewed by Duane Bernard, Lecturer, Gettysburg College on 3/12/19

The text book covers all of the typical topics for this level of marketing. If there is any criticism it is that some topics are covered very sparsely. For example, the topic of subliminal messaging is given a few sentences. While it is not... read more

The text book covers all of the typical topics for this level of marketing. If there is any criticism it is that some topics are covered very sparsely. For example, the topic of subliminal messaging is given a few sentences. While it is not necessary to cover this in detail, the explanation provided may not be enough for students to understand what it is. I even had a student that commented on the lack of substance in some areas.

I did not come across any areas that were not accurate. It is written well.

The examples are somewhat dated. While it is perfectly fine to present historical examples, the "new" examples need to be updated. In addition, some of the links are broken.

I have not seen any issues with the understandability of the text. I have also not had any negative comments from students.

The text is consistent with its terminology.

The text is easily separated into subunits. I do not use it as a standalone assignment for reading, as I also have many cases and simulations. I have only directly assigned certain sections for homework. This works well.

The book follows the usual formatting and organization of most of these textbooks.

The only issue I have encountered is some broken links that refer to videos. I have not encountered any other issues.

Grammatical errors have not been found.

I have not detect any offensive content. I have not seen a lot that would be inclusive of other backgrounds.

This book is great as a supplement to other course materials such as cases and lecture. I believe its limitation is that it could go into more depth in many sections.

Reviewed by Lori Rumreich, Assistant Professor of Marketing, Marian University on 3/5/19

This book provides comprehensive coverage of marketing principles equivalent to other textbooks. There is very nice coverage of supply chain and logistics beyond many other principles books. The marketing plan section at the end is very useful.... read more

This book provides comprehensive coverage of marketing principles equivalent to other textbooks. There is very nice coverage of supply chain and logistics beyond many other principles books. The marketing plan section at the end is very useful. Overall there is a lot of content to choose from in this text that makes it easy to select what is needed. A searchable pdf in the downloaded format makes it easy to find content.

The content is accurate and unbiased. Some content may be out of date but with the rapid change happening in much of marketing, especially digital/social, that is to be expected.

The rapid pace of change in marketing, especially digital marketing/social media and media in general make it difficult for textbooks to stay up to date. Updates to these sections should be easy to make. The majority of the text is up-to-date and relevant. The use of review questions and key takeaways for sections are very helpful and reinforce learning of each concept.

This text provides practical and real world examples that are interesting and relevant. Writing style is clear and accessible. The use of pictures and the use of color for highlighting tables, charts, special sections, etc. add to the clarity and readability.

There is a consistent style throughout the text. Clear objectives are at the start of each section, key takeaways and review questions are at the end of each section. This creates a very consistent style that is easy to follow and should help with learning.

It would be nice to provide sub units or groups of chapters within a theme or section of marketing but this is not a requirement. Chapters can be easily divided where needed.

I would prefer that market research to be closer to the front of book. Market research is a first step in understanding customer needs, product features, markets, segments, promotion and ad concepts, etc. It seems out of place near the end of the text. Otherwise, the organization is logical and clear.

The searchable pdf version is very easy to navigate and use. The links to videos and other external content are accessible. All content appears clear and free from distortion. Having multiple formats, pdf, kindle, etc., available is a plus for this text.

The text contains no grammatical errors.

The text appears to be culturally relevant. There is good diversity in the photos shown in the text.

Reviewed by Rosemary Prince, Teaching Faculty III, Florida State University on 12/6/18

The concepts covered in Principles of Marketing - 2015 are appropriate for an introductory level course. The discussion of the 4 Ps as creating, communicating, delivering and exchanging provides an interesting perspective. An index and glossary... read more

The concepts covered in Principles of Marketing - 2015 are appropriate for an introductory level course. The discussion of the 4 Ps as creating, communicating, delivering and exchanging provides an interesting perspective. An index and glossary are not included which would be beneficial.

The concepts, definitions and strategies are accurate and unbiased.

The general principles addressed are relevant. Examples should be updated and some links are no longer available. As noted in the learning objectives Social Media keeps changing and the text needs to be updated. Additionally, e-marketing should be expanded given the changes since 2010. The reference information provided with websites resources and examples and framework of the textbook allows for updating with more recent clips, research, templates, etc.

The text is very clear and terminology is easy to understand.

The framework is consistent with the concepts presented in an introductory level marketing text.

The text is presented in units within each chapter that can be separated and or combined with other units for specific learning assignments or extracted to supplement learning.

The topics in the text are presented in logical order for an introductory marketing text. The layout of the textbook including learning objectives, sequencing, terminology, key takeaways, questions and activities is well organized.

Downloading the text as a PDF, the images and charts were clearly visible. The navigation was straightforward and easy. The links to videos were accessible; however, some were no longer available.

Minor grammar errors were noted.

Updating the video examples would provide a more inclusive text.

Reviewed by Melodi Guilbault, Senior University Lecturer, NJIT on 5/21/18

The book covers all content generally covered in a Principles of or Introduction to Marketing course. The issue is that the content is old. The content is based on a text written in 2010. For example, there are only a few short paragraphs on... read more

The book covers all content generally covered in a Principles of or Introduction to Marketing course. The issue is that the content is old. The content is based on a text written in 2010. For example, there are only a few short paragraphs on social media. There is a clear Table of Contents but I did not see an index or glossary.

The content appears to be accurate. I did not note any errors or any bias. But the content is dated.

Relevance/Longevity rating: 1

The content is dated. The content is adapted from a text written in 2010. There have been significant changes since 2010. Although there are a few more recent links most of the links are from before 2010.

The text is easy to read. Students should find the writing easy to follow. Terminology has been clearly explained.

The way the chapters are organized is consistent throughout the text.

The text is easily and readily divisible into smaller reading sections that can be assigned. This is generally done by chapters and units within the chapters.

The topics are presented in the same order as many Principles of or Introduction to Marketing texts.

I could not get any of the videos to open. Other than that I was able to easily navigate through the chapters. The hyperlinks took me to the appropriate text but it would be helpful to have a return button.

The text did not appear to contain any grammatical errors.

Cultural Relevance rating: 2

I did not note any direct effort to be inclusive in the examples provided.

I like the use of the alternative to the 4Ps. I find the 4Ps to be a dated paradigm and it was refreshing to see a different approach.

Reviewed by David C Taylor, Assistant Pofessor, University of Houston on 3/27/18

A very good comprehensive introduction for marketing. Also would serve as a great refresher text for upper-level marketing courses. read more

A very good comprehensive introduction for marketing. Also would serve as a great refresher text for upper-level marketing courses.

The text is very general, but provides accurate descriptions and overviews of concepts and marketing theory.

We could see more on e-marketing or the evolution of social media over traditional advertising. That said, as a primer on the subject of marketing, this is a great tool in lieu of students having to make a purchase.

Clear, easy to read and understand.

Consistency is strong and consistent across chapters.

I don't think molecularity is practical with an general overview text, unless you wanted to utilize some of the chapters as refreshers in broader topic on marketing.

organized consistently and flow is as with other marketing texts

I did not experience any difficulties

No major grammar issues were identified.

Again, a good primer, or refresh for an upper-level marketing course.

Reviewed by Mary Tripp, Business Faculty, St. Paul College on 2/1/18

The textbook covers the material found in the majority of introductory marketing textbooks. The topics covered are appropriate and the scope meets the basic needs of a principles of marketing course. A searchable index would add to the... read more

The textbook covers the material found in the majority of introductory marketing textbooks. The topics covered are appropriate and the scope meets the basic needs of a principles of marketing course. A searchable index would add to the usefulness of this textbook. A table of content exists but unfortunately no subject index or glossary is provided.

Content Accuracy rating: 3

Overall the accuracy of information, based on the publication date, is acceptable. The textbook is listed as published in 2015 on the Open Textbook Library site. However, the internal publication date is 2010. The internal date seems accurate based on the examples and citations used throughout the textbook. The books examples are all about 10 years old. In the world of marketing, that is a problem. The textbook has some grammatical and spelling errors but nothing that would prevent usage.

The textbook is listed as published in 2015 on the Open Textbook Library site. However, the internal publication date is 2010. The internal date seems accurate based on the examples and citations used throughout the textbook. The books examples are all about 10 years old. In the world of marketing, that is a problem. The subjects of pricing, product, and distribution would be easy to update in the text and/or provide supplements in the classroom. However, the promotion related chapters are very out of date in today's tech driven e-marketing and social media marketing world. If this book had been available in 2009 as an open resource, I would have used it. In 2018, it is unlikely that I would use this resource.

The clarity of the book is great. It is written in a straight forward manner that students would easily understand. The minor grammatical and spelling issues do not hinder the reader.

The consistency of the book meets expectations in regards to terminology and framework.

Each chapter has between 3-8 subsections that allows the material to be easily read by students.

The flow of the chapters is a positive element of the textbook. The organization of the book follows the same structure as many of the principles of marketing textbooks. The table of contents could be restructured to group chapters into subunits for greater student comprehension but it is a small detail.

The interface of the book demonstrated no problems other than the links to videos did not work.

The book contained minor grammatical errors but at a level that the average student would not notice.

Cultural Relevance rating: 1

The cultural relevance of the textbook needs attention. There are not many examples/photos that demonstrate a variety of races, ethnicity, or backgrounds.

1. The cover page and the initial first pages are dull and uninspiring. 2. Overall the textbook is visually dull and students would find the lack of visual interest to be a negative. 3. The examples and references are all at least 10 years old. 4. The text contains only three pages on social media. Not nearly sufficient in today's social media driven environment. 5. The textbook lacks examples of nonprofit organization.

Reviewed by Kristin Hagan, Associate Professor, Northern Virginia Community College on 6/20/17

This text includes all of the major learning objectives covered in an introduction to marketing class. The main topics include the definition of marketing, strategic planning, consumer behavior, the 4 Ps, offerings, marketing channels, selling,... read more

This text includes all of the major learning objectives covered in an introduction to marketing class. The main topics include the definition of marketing, strategic planning, consumer behavior, the 4 Ps, offerings, marketing channels, selling, and overview of a marketing plan. The Table of Contents is easy to access; it serves as a helpful search function. The text is missing a glossary of terms; adding one could be beneficial to readers.

Definitions, principles, and concepts presented in the text are correct. In accordance with marketing principles, the facts presented in the text are true to point. The material was presented in an unbiased way and was primarily free of any grammatical errors.

The examples used in the text are up-to-date and relevant. The large number of real world examples given help the reader understand the learning objectives being presented. Revising these examples and other pertinent information in the text would not be an impossible task.

The layout and formatting of the material is clear and concise. The content of the book uses a lot of extended sentences that could be shortened to help the reader better understand the material. The terms and jargon used is relevant and up-to-date.

The text is extremely consistent in its terminology and framework. Its layout is consistent which makes each new chapter and section easily recognizable. Each chapter has review questions and key summery section which reiterates key points and acts as checkpoint for student.

The layout of the text is very modular. Each chapter is broken down into a minimum of three sections which makes the information very learner-friendly. Each section has a defined learning objective and review material at the end of the section.

The text is organized in a logical way where concepts taught at the beginning of the book are built upon later. The information presented flows well throughout the text. The Table of Contents is extremely beneficial and makes key topics easy to locate in the text.

I did not notice that the text featured any interface issues such as navigational problems, unclear images, or other distortions that would confuse the reader. The images and figures presented in the text are clearly visible to the reader. All images and figures can be enlarged if the viewer clicks on the displayed image.

There were few grammatical errors in the text.

This text presents real life examples relevant to mainstream culture and business in America. Depending on the audience, more culturally diverse examples may be more suiting. The text does a fairly good job of using conational business examples however, some of the images of people could be diversified.

The audio clips located throughout the online text are a nice edition that students reading a traditional textbook can not experience.

Reviewed by Oksana Grybovych, Associate professor, University of Northern Iowa on 12/5/16

The text would greatly benefit from a table of contents, glossary, and an index. Otherwise, most content areas are discussed rather thoroughly - even though, as the previous reviewer mentioned, the text is lacking in its application towards... read more

The text would greatly benefit from a table of contents, glossary, and an index. Otherwise, most content areas are discussed rather thoroughly - even though, as the previous reviewer mentioned, the text is lacking in its application towards services and experiences marketing. Speaking of the latter, there is no discussion of marketing experiences as offerings even though this approach is very common these days.

This text seems to target the North American audience, and readers from elsewhere might not readily relate to the examples provided. The authors could also incorporate more examples from a nonprofit sector.

Most chapters are very relevant to the current marketing practices. However, the authors could consider including or expanding more on the subjects of sustainability (e.g. social corporate sustainability) as well as experience marketing.

Key concepts are well defined, but the structure and formatting of the text are somewhat confusing.

The text is structured around the framework that is outlined by the authors in chapter 1.

There are 16 chapters in the text, each of them is broken up into sections. Such structure makes it very manageable for the instructor to use the text in a typical North American semester.

Some of the chapters could be moved around to allow for a better flow of the contents.

The authors could consider moving all references to the end, as well as including a table of contents that the students could navigate (click on the headings), glossary, and an index.

Very few spelling/grammar errors.

It appears that this text is mainly designed for North American white audience, hence is lacking in its cultural relevance.

Overall this is a very good introductory text, I was happy to see the authors incorporate many important topics that are frequently omitted in other texts. At the same time, a few more important topics could be added, the formatting/ structure of the text revised, and more culturally relevant content added.

Reviewed by Chris Blocker, Assistant Professor, Colorado State University on 1/7/16

Principles of Marketing by Tanner & Raymond is a very comprehensive text, which addresses the full gamut of topics that an instructor might want to cover. It also offers nice integration of some topics that might normally be neglected, e.g.,... read more

Principles of Marketing by Tanner & Raymond is a very comprehensive text, which addresses the full gamut of topics that an instructor might want to cover. It also offers nice integration of some topics that might normally be neglected, e.g., satisfaction metrics, account planning, and other topics.

Principles of Marketing by Tanner & Raymond articulates the core principles of marketing with accuracy and precision. There is a tight linkage (typically through use of web links) to established definitions (e.g., AMA) and conceptual frameworks (e.g., Product and Market Entry strategies) that have come to reflect the established body of marketing knowledge.

Principles of Marketing by Tanner & Raymond contains relevant and up-to-date themes based upon emerging paradigms (e.g., Service Dominant Logic) that are synthesized across the chapters.

One of the strengths of Principles of Marketing by Tanner & Raymond, which relates to its comprehensiveness, is the clarity offered for all the concepts presented. Key concepts are well-defined and presented in a plain language that is readily accessible to a wide audience.

Although, no unifying framework is offered to connect the chapters, there is an underlying common conceptual core offered within the Principles of Marketing by Tanner & Raymond

Another key strength of Principles of Marketing by Tanner & Raymond is the modularity. Chapters are broken up numerically and into "bite-size" chunks such that instructors would have an easy time assigning aspects of a chapter to modules.

Principles of Marketing by Tanner & Raymond follows the common flow of the vast majority of Principles texts by beginning with the organization and high-level strategies, then digging into consumer/buyer behavior, and finally, unpacking the marketing mix.

Navigation is easy for Principles of Marketing by Tanner & Raymond; however, some issues with fonts and size of text within images rendered some distractions

Principles of Marketing by Tanner & Raymond is well written and in an accessible style.

Principles of Marketing by Tanner & Raymond is not offensive in any way and does offer quite a few diverse examples. However, there is a heavy reliance on North American company examples, such that individuals in other cultures might have difficulty with some.

Principles of Marketing by Tanner & Raymond does a really nice job of offering a comprehensive and relevant marketing text that can easily be modularized by instructors. The authors have effectively integrated up-to-date examples that students will find interesting as well as integrated media (e.g., audio clips) and real life profiles (profiling an analytics manager at BNSF) to produce an engaging text.

Reviewed by Marina Jaffey, Instructor & Program Leader Marketing, Camosun College on 10/9/13

This American Principles of Marketing text covers all the key areas & ideas normally included in a first year College/University Introduction to Marketing course. There are 16 chapters in the text and most key topic areas are discussed... read more

This American Principles of Marketing text covers all the key areas & ideas normally included in a first year College/University Introduction to Marketing course. There are 16 chapters in the text and most key topic areas are discussed relatively thoroughly, with the following exceptions: 1. Pricing 2. Retailing and Distribution as it relates to services Rather than structuring the text around the 4Ps or traditional Marketing Mix, the authors follow the premise that marketing is composed of four activities centered on customer value: creating, communicating, delivering, and exchanging value. The text does not include a Table of Contents, Contents in Brief, or Glossary and/or Index.

Marketing concepts are defined/explained/discussed accurately. All the examples are American, so not as relevant for Canadian students. Similarly, the Environmental Scan and ethical/legal segments are all based on American trends and laws/business practices. In general, the examples tend to focus on large corporations. More examples from medium/small businesses, as well as not-for-profits, would help to provide a broader perspective for students. Based on the scale below: content is accurate, but has a very American bias.

The content is up-to-date, with the exception of: 1. The three chapters on marketing communications. Marketing communications has been and is continuing to change rapidly, and as a result, it is difficult for text books to remain current. Having said this, I believe that it would be relatively easy to make regular updates to the marketing communications chapters. 2. Although the Distribution chapter is up-to-date, it is lacking in its coverage of distribution as it relates to services, as well as retailing. 3. Perhaps most importantly for Canadian students, is the fact that all the examples and all sections that relate to legislation/business practices in the current text are American. It would be more time consuming to up date the text to reflect the Canadian marketing environment.

Clarity rating: 3

Concepts are explained clearly in the body of the text. Ideas to increase retention are: 1. Include more visuals. The current charts/graphs are small and difficult to read. Many of the figures lack sufficient detail. Visuals serve to summarize concepts at-a-glance and help students to understand/recall a concept. 2. Provide a variety of examples to illustrate concepts. 3. Make better use of formatting to ensure students can see quickly key concepts and definitions on a page, for instance, make better use of headings & subheadings and include key concept definitions in the margins of the page. 4. In addition to the summaries at the end of each section within a chapter, include a final end of chapter summary.

Yes, the text is internally consistent in terms of terminology and framework. The text presents the marketing mix in terms of four activities or components of marketing: creating, communicating, delivering, and exchanging value.

There are 16 chapters in the text which corresponds nicely with a typically 14 week semester. The order of the chapters in the text is as follows: Ch. 1 - What is Marketing? Ch. 2 - Strategic Planning Ch. 3 - Consumer Behaviour Ch. 4 - Business Buying Behaviour Ch. 5 - Market Segmenting, Targeting, & Positioning Ch. 6 - Creating Offerings Ch. 7 - Developing & Managing Offerings Ch. 8 - Using Marketing Channels to Create Value for Customers Ch. 9 - Using Supply Chains to Create Value for Customers Ch. 10 - Gathering and Using Information: Marketing Research & Market Intelligence Ch. 11 - Advertising, IMC, and the Changing Media Landscape Ch. 12 - Public Relations & Sales Promotions Ch. 13 - Professional Selling Ch. 14 - Customer Satisfaction, Loyalty, and Empowerment Ch. 15 - Price Ch. 16 - The Marketing Plan It would be easy and straight forward for an instructor to change the order that these topics are covered in a semester, should he/she wish to do that.

Two changes I recommend are: 1. Put ch. 15 - Price right after ch. 7 - Developing & Managing Offerings. Pricing is a very important marketing concept, and it makes most sense to discuss how to price products/services/offerings right after they are covered in the text. 2. Move ch. 10 - Marketing Research to right after ch. 2 - Strategic Planning. Ch. 2 covers environmental scanning, so it is important for students to learn how to research trends and find information required for planning. Otherwise, the order of the chapters is fine.

Interface rating: 2

I have been working with a print version of the text. A suggestion to make navigation through the print version easier would be to include a Table of Contents, Contents in Brief, and Index/Glossary at the end. Images/charts are small and difficult to read in the print version. Many subheadings sit alone at the bottom of a page. Need to format so that a subheading appears with some or all of the body copy. Also, some chapters begin on the same page that the previous chapter ends. It would be better to start a new chapter on a new page. In several instances, whole pages were simply lists of sources. It is important to cite sources, however it would be better to include these lists of sources at the end of a chapter, rather than in the middle of a chapter.

There are relatively few grammatical or spelling errors. Please see complete list of errors in attached document.

Although the text is not culturally offensive in any way, I believe there could be more examples that reflect a variety of races, ethnicities, and backgrounds. The text mentions that there is a profile of a marketing professional at the beginning of each chapter - this is not the case (no profiles are included). Including profiles of marketing professionals from a variety of races, ethnicities, and backgrounds would be one way of addressing this weaknesses. It would also be appropriate to profile different types of organizations to illustrate marketing concepts/business practices amongst different cultural groups. As mentioned earlier, this is an American text so all examples are American.

Overall this text covers all the key topic areas relevant to a first year college/university overview marketing course. Most topics are covered in an appropriate amount of depth, with a few exceptions including pricing and services marketing. Learning Objectives are included at the start of each segment within a chapter, but not at the start of a chapter. Learning Objectives are all at the lowest two levels of Bloom's Taxonomy - Knowledge (i.e. Describe...) and Comprehension (i.e. Understand...) http://www.coun.uvic.ca/learning/exams/blooms-taxonomy.html The Review Questions and Key Takeaways which appear at the end of each segment within a chapter and the Discussion Questions and Activities at the end of each chapter are generally good and provide students with ways to test understanding and apply relevant concepts. This is an American text, so an instructor would need to provide his/her students with a variety of Canadian examples, as well as Canadian content related to environmental scanning and business practices. All Introduction to Marketing texts offered by publishers provide extensive support materials for instructors and students. I'm not aware of any support materials that come with this text. There are formatting issues which have been mentioned earlier in this review, that would need to be addressed. This review originated in the BC Open Textbook Collection and is licensed under CC BY-ND.

Table of Contents

  • Chapter 1: What is Marketing?
  • Chapter 2: Strategic Planning
  • Chapter 3: Consumer Behavior: How People Make Buying Decisions
  • Chapter 4: Business Buying Behavior
  • Chapter 5: Market Segmenting, Targeting, and Positioning
  • Chapter 6: Creating Offerings
  • Chapter 7: Developing and Managing Offerings
  • Chapter 8: Using Marketing Channels to Create Value for Customers
  • Chapter 9: Using Supply Chains to Create Value for Customers
  • Chapter 10: Gathering and Using Information: Marketing Research and Market Intelligence
  • Chapter 11: Integrated Marketing Communications and the Changing Media Landscape
  • Chapter 12: Public Relations, Social Media, and Sponsorships
  • Chapter 13: Professional Selling
  • Chapter 14: Customer Satisfaction, Loyalty, and Empowerment
  • Chapter 15: Price, the Only Revenue Generator
  • Chapter 16: The Marketing Plan

Ancillary Material

About the book.

Principles of Marketing teaches the experience and process of actually doing marketing – not just the vocabulary. It carries five dominant themes throughout in order to expose students to marketing in today's environment:

Service dominant logic — This textbook employs the term "offering" instead of the more traditional First "P" — product. That is because consumers don't sacrifice value when alternating between a product and a service. They are evaluating the entire experience, whether they interact with a product, a service, or a combination. So the fundamental focus is providing value throughout the value chain, whether that value chain encompasses a product, service, or both.

Sustainability — Increasingly, companies are interested in the impact they are having on their local community as well as the overall environment. This is often referred to as the "triple bottom line" of financial, social, and environment performance.

Ethics and social responsibility — Following on the sustainability notion is the broader importance of ethics and social responsibility in creating successful organizations. The authors make consistent references to ethical situations throughout chapter coverage, and end of chapter material in most chapters will encompass ethical situations.

Global coverage — the authors deliberately entitled Chapter 1 "What is Marketing?" Whether it is today's price of gasoline, the current U.S. presidential race, or Midwestern U.S. farming, almost every industry and company needs strong global awareness. And today's marketing professionals must understand the world in which they and their companies operate.

Metrics — Firms today have the potential to gather more information than ever before about their current and potential customers. That information gathering can be costly, but it can also be very revealing. With the potential to capture so much more detail about micro transactions, firms should now be more able to answer "well, what this marketing strategy really worth it?" And "what is the marketing ROI?" And finally, "what is this customer or set of customers worth to us over their lifetime?"

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Basic Marketing Fundamentals: The 7 Ps of Marketing (Infographic)

marketing fundamentals essay

What is Marketing?

Marketing encompasses the strategies and tactics brands use to promote their products and services to consumers. Everything from market research to writing ad copy falls within the realm of marketing.

At first glance, marketing even a single product or service can seem like an enormous challenge. You understand the value of your offering – but how do you show it to consumers? And how can you ensure they actually pay attention to your message? Creating a successful marketing strategy is all about getting to know your audience, analyzing consumer behavior and acting on it appropriately.

But before we dive into things, let’s start with some basic marketing fundamentals.

The marketing fundamentals we’ll cover in this article are:

  • Physical Evidence.

A Visual Guide to the Fundamentals of Marketing

A Visual Guide to the Fundamentals of Marketing

Basic Marketing Fundamentals: The 7 Ps of Marketing

In the late 20th century, marketing thought leaders developed the concept of the “Marketing Mix,” a set of concepts and tools that help companies achieve their objectives within a market. At the core of this model are the four Ps:

marketing fundamentals essay

  • Product: What are you selling? A shiny new business widget? A hand-crafted luxury item? Chicken tacos? Whatever it is, you’ll need to think about how to package or present it. Marketers should be familiar with all the features and specifications of the products they sell.
  • Price: To determine how much your product should cost, you’ll need to do some research. Learn how your competitors price their offerings, and understand how much consumers are willing to pay.
  • Promotion: These days, marketers have many channels through which to promote their products. From radio ads to social media banners, you’ll need to decide which are right for your brand.
  • Place: Your customers need to be able to find and purchase your product. Can they buy your product online? Do they need to visit a store? Additionally, you’ll need to consider how much inventory to hold and where to keep it. These days, inbound marketing strategies rely on engaging content to bring customers to you (or your website).
  • People: Optimal customer service is going to get you return customers and referrals, both of which can ultimately convert sales. Having a strong team for marketing communication is a great way to showcase your brand reputation, solve problems on the fly and connect with your customers so they continue to come back for more.
  • Process: Creating and promoting a valuable product is essential, but the delivery process is almost just as critical for ensuring your competitive advantage. Your delivery process needs to have efficiency and reliability in mind, both from the perspective of your own team and your customers.
  • Physical Evidence: We work from a digital ecosystem, which means that having a physical store or office outside of your home isn’t as common as it used to be. But having physical evidence of your brand is key. In this case, it could be your website, social media presence or email newsletters. Physical evidence can also include branding and packages related to your product or service.

marketing fundamentals essay

Staying Up-to-Date With the Latest Marketing Trends

A good marketer never stops learning.

Though basic marketing fundamentals may remain steady over time, the specific strategies businesses deploy are affected by a number of factors, such as:

  • Changing consumer demographics: Younger generations of people may respond to different appeals, compared with older generations. Customer opinions can greatly influence your content strategy.
  • Emerging technology: Mobile devices, voice search and other developments offer new ways for marketers to reach their customers.
  • Fluctuating market conditions: The global economy is in constant flux; what was affordable to consumers yesterday may be out of reach tomorrow.
  • Cultural shifts: Political and social movements shape the way consumers view companies and their offerings.

How do you forecast these changes? They can shift gradually over long periods of time, especially in the case of technology adoption. You can’t just put a finger to the wind and determine what the next trend will be.

That’s when you turn to expert advice. Blogs are a great place to start. Those of us embedded in the world of marketing every day share our experiences, analyze reports and make educated predictions about the future of marketing.

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Further Reading: The Best Marketing Books To Have on Your Shelf

A steady diet of books and articles can also keep you informed and up to date on the latest marketing trends. The following books serve as a great foundation for your knowledge base:

This is Marketing: You Can’t Be Seen Until You Learn to See

By Seth Godin

Books every marketer should read: This is Marketing

If you’re just getting into marketing, know that Seth Godin is a name you’ll see a lot. His website, online courses and lectures are hugely popular. In this book, Godin shares his wisdom on digital marketing and teaches lessons on how to build great brands.

Notable quote: “Some dog owners want gluten-free food, loaded with high-value placebos. But let’s not get confused about who all this innovation is for. It’s not for the dogs. It’s for us.”

Good to Great: Why Some Companies Make the Leap and Others Don’t

By Jim Collins

marketing fundamentals essay

Though published in 2001, Jim Collins’ best-selling book on what makes companies great is still relevant today. The insights found in this book are drawn from 28 in-depth analyses of companies that either became great or succumbed to mediocrity.

Notable quote: “The good-to-great companies made a habit of putting their best people on their best opportunities, not their biggest problems. The comparison companies had a penchant for doing just the opposite, failing to grasp the fact that managing your problems can only make you good, whereas building your opportunities is the only way to become great.”

Building a StoryBrand: Clarify Your Message So Customers Will Listen

By Donald Miller

Books every marketer should read: Building a Story Brand

Effective marketing appeals to customers the way a great story appeals to an audience. Donald Miller’s book takes storytelling elements and applies them to the world of business.

Notable quote: “Brands that help customers avoid some kind of negativity in life (and let their customers know what that negativity is) engage customers for the same reason good stories captivate an audience: they define what’s at stake.”

Content: The Atomic Particle of Marketing

By Rebecca Lieb

marketing fundamentals essay

Strategic advisor Rebecca Lieb describes how content has evolved to be the most important aspect of a marketing strategy. This book walks readers through the evolution of new media and how it’s shaped how marketers connect with consumers today.

Notable quote: “The culture of content is arising not just because brands are publishers, but because employees are publishers, too. Some will shrug this off as noise rather than signal, but the proliferation of channels, platforms and devices is further enabling employees to speak on behalf of the brand.”

Now that you have more knowledge about the basics of marketing, consider learning more about how to craft a winning blog post or about how to connect your marketing strategy to your sales goals .

Marketers must be comfortable with a trial-and-error approach to their work, but the more you learn and study the greats, the quicker you’ll see success. Good luck!

Editor’s Note: Updated January 2022.

Alexander Santo

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marketing fundamentals essay

Alexander Santo is a Brafton writer living in Washington. ​He enjoys searching for the perfect cup of coffee, browsing used book shops and attending punk rock concerts.

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Good marketing makes the company look smart. Great marketing makes the customer feel smart."

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Marketing is a word we are all familiar with, but how much do we know about this core business function? How is marketing related to a brand's customer? The first word that comes to your mind when you hear marketing is probably advertising. In fact, these words are frequently used interchangeably. But did you know that marketing is much more complex, and advertising is just a small (but significant) part of marketing? Interesting, right? Read along for an introduction to marketing and all its functions!

What is Marketing?

Marketing, as commonly misunderstood, does not just comprise the advertising of products. Marketing as a business function encapsulates a lot more. Although advertisements are the most common forms of marketing - as people come across tens or hundreds of them every day, on their TVs, laptops, phones, on a banner while driving, or on moving vehicles - marketing does not end there. Today, marketing includes the engagement and satisfaction of customers and their needs. Marketing aims to communicate a product 's benefits and values to its customers and society.

  • Marketing can be defined as an organisation's efforts to communicate its values and benefits to customers, partners and other parties involved.

Marketing activities now also focus on effectively engaging target customers to understand their needs. Value generation and exchanges between the organisation and the customers are crucial to marketing.

A marketing campaign can only be considered successful if the following has occurred:

effectively engages the customer,

understands customer needs ,

develops superior customer value-generating products,

appropriately prices the products,

effectively distributes the products, and

appropriately promotes the products.

Marketing is a five-step process that enables a business to generate customer value and is as follows:

Understanding the marketplace and the customer's wants and needs,

Designing a marketing strategy that is customer-driven,

Developing a marketing program that will deliver superior customer value ,

Building profitable relationships with customers, and

Creating profits and customer equity by capturing value from customers.

Marketing, as a whole, is a set of activities that help an organisation create value for its customers while building profitable relationships with them. To achieve this, businesses create a marketing strategy . Let us take a look at what this means.

Difference between Marketing and Advertising

Advertising and marketing are often used synonymously due to their similarities. Despite their similarities, marketing and advertising are not the same. Advertising is a part of marketing .

While marketing involves research to understand the market, customer needs , and purchase behaviour, advertising solely focuses on promoting a product among target customers.

Advertising is a set of activities a business performs to make people aware of their goods or services.

Advertising

Advertising is a one-way channel that communicates the features and variations of products to people. It is a method that is employed to boost sales and revenue by reminding people of the product. It is used to convince target customers that this offered good or service is superior to its competitors and to improve customers' perceptions of the brand. Advertising aims to attract new customers while retaining the existing customer base. It also aims to increase customers' need or want for the product.

There are several common types of advertising we come across in our everyday lives, and they are listed as follows:

Traditional advertising - Advertisements on TV, in newspapers, or radio are examples of traditional advertising.

Retail advertising - Advertisements seen within retail stores.

Mobile advertising - Mobile ads appear on smartphones, tablets, etc.

Online advertising - Advertisements of products on the internet, e.g. on websites.

Outdoor advertising - Billboard or banner advertisements that can be seen outside on the street and in other crowded areas.

PPC advertising - Pay-per-click (PPC) advertisements increase a company website's traffic.

Conducting extensive research to understand the target market and its behaviour plays a key role in marketing. Companies also pursue research to help the marketing team construct an appropriate marketing strategy that builds profitable customer relationships. These strategies are implemented to reach marketing goals. Here are some common types of marketing:

Digital Marketing - The use of search engines, emails, and other electronic communication methods.

Social Media Marketing - A form of digital marketing. It uses social media platforms such as Instagram, Facebook, etc., to market products.

Relationship Marketing - Marketing strategies that focus on customer satisfaction and building a relationship between the customer and the brand.

Global Marketing - Using a unified global marketing strategy for international brands.

Therefore, advertising is just a tiny part of marketing that focuses on creating awareness of the product among the target customers in the target market.

Introduction to Marketing Strategy

As mentioned, value generation for customers and building a profitable relationship with them is essential for marketing. A marketing strategy guides a business in achieving this goal through specific actions.

  • A marketing strategy is a set of actions the organisation plans to achieve its marketing goals.

The business's resources are taken into consideration while developing a marketing strategy. A marketing strategy helps an organisation decide on its target customers and how it will communicate the product and its benefits to them. This process involves segmentation, targeting, differentiation and positioning.

Market Segmentation - The process of dividing the available market into smaller groups based on consumers' needs and behaviours.

Market Targeting - Selecting a focal market segment for targeted marketing.

Market Differentiation - Modifying or adjusting a product to suit the target market better.

Market Positioning - The process of influencing customer perceptions about a brand or product to be considered more desirable than the competitors'.

A marketing strategy involves the following elements:

the organisation's core message,

target segment's information,

product's value proposition.

A marketing strategy also includes the product, price, promotion and place - the 4 Ps of marketing . These factors help an organisation receive the anticipated response from the target audience.

Introduction to Marketing Planning

Once the marketing strategy is in place, the company needs to start working on implementing them and generating the desired results. Marketing planning defines the marketing activities and the timeline for completing each step. It helps guide and align all associated teams.

Marketing planning is the implementation of marketing strategies to achieve the marketing campaign 's goals.

The marketing plan will contain details like:

The platform for promotion ,

Research to evaluate the pricing , place, promotion and product decisions,

Key messages or values tailored to the target demographic,

How success is measured.

Introduction to Marketing Management

Marketing management comprises planning, organising, controlling and implementing marketing strategies.

  • Marketing management is the process that helps a business successfully perform its various functions to achieve its goals.

Marketing management helps in achieving the following objectives:

profitability,

satisfying customer demands,

attracting new customers,

building a positive reputation,

market share maximisation.

Marketing management is essential for promoting new ideas and boosting the company's financials. It can help the company succeed in selling its products despite competition. Marketing management involves defining the business's mission statement, understanding the business's market position, analysing the business's strengths and weaknesses, planning and implementing marketing strategies, and evaluating them. Evaluation of the process is essential as this helps companies understand and collect data about what works in which market and take corrective action, if necessary.

Marketing strategies are based on five marketing concepts - production, product, selling, marketing and society.

You can read more about this topic under Marketing Management

Introduction to Marketing Concepts

Marketing concepts explain the various methods through which businesses can achieve profitable customer relationships. The five marketing concepts are as follows:

Production,

Marketing, and

Production concept

The production concept relies on the fact that consumers will opt for readily available and affordable products. Products should be manufactured at lower costs to make them more affordable. This concept focuses on quantity rather than quality. The business focuses on efficient product distribution and production improvements.

Product concept

The product concept focuses on the quality of the products. This concept targets customers who prefer products with high performance and the best quality. Therefore, the company makes an effort to improve its products continuously.

Apple is a brand that has managed to maintain a huge base of loyal customers by consistently providing high-quality products.

Selling concept

This concept is essential for the types of goods or services consumers typically do not consider buying. Such products or services need large-scale selling and promotion efforts to capture customers' attention. For example, insurance or blood donations.

Insurance companies such as MetLife advertise by appealing to people's emotions and encouraging them to get themselves insured.

Marketing concept

The marketing concept relies on understanding customers' wants and needs better than the competitors, enabling the business to provide superior customer value. It is a customer-centric concept that focuses on finding the right product for customers.

Contrary to the selling concept, the marketing concept has an outside-in perspective, which implies that the focus starts with the customer and their needs, and all the other marketing activities are supplemented accordingly.

Societal Concept

The societal concept argues that marketers should formulate marketing strategies to benefit both the consumer's and society's well-being. Companies following a societal concept consider the company's requirements, the consumer's short-term wants, and the long-term interests of the consumers and society. This is a socially responsible concept.

The British cosmetic store, The Body Shop, excels in animal, environmental, and human rights issues.

Introduction of Marketing Fundamentals

The marketing fundamentals are what is commonly known as the 4Ps of marketing. The following are the 4Ps of marketing:

Product is what the company has to offer. It can be tangible (such as clothing, chocolate, etc.) or intangible , also known as services (such as health care, transportation, etc.). A product can have different variants and serve various purposes. The marketing team determines the value-adding determinants of the product, such as its packaging and servicing policies.

Place refers to the product's distribution location. Products should always be available to the target customers. The marketing team should also decide the method of distribution. Businesses should determine whether it would be most beneficial to sell the products online, in a physical store, or both.

Pricing a product depends on many factors, such as the cost of production, the price of similar products in the market, and how much people are willing to pay. Deciding the payment methods, providing financing options etc., should also be selected. The marketing team should also decide whether or not to offer discounts.

Promotion describes all the steps the marketing team takes to make people aware of products and their features or uses. The marketing team also needs to decide on the promotion channel and method. Promotions can be offered online, offline, in-store, or during events. The language or tone of communication is also an essential factor.

In short, marketing is a complex and core process that helps an organisation or brand build valuable and profitable customer relations.

Introduction to Marketing - Key takeaways

  • Types of advertising include traditional, retail, mobile, outdoor, online, and PPC.
  • Types of marketing include digital, social media, relationship, and global.
  • Marketing planning is the implementation of marketing strategies to achieve the marketing campaign's goals.
  • The marketing concepts include production, product, selling, marketing, and societal.
  • Product, place, price, and promotion are the marketing fundamentals.

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Is a customer the same as a consumer?

A consumer is a person who buys a product or service from a business. 

A consumer is a person who uses a product or service provided by a business.

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Define exchange.

An exchange is when someone gives up something in return for something else.

What is an opportunity cost?

Opportunity cost is the forgone benefit that would have been derived from an option not chosen.

Explain why the opportunity cost matters in the exchange process.

The exchange must be worthwhile and beneficial for both businesses and consumers. For businesses that means gaining profit from a good or service sold, and for customers that means gaining value for the money paid. What is more, the benefits gained from the exchange must be better than those that could be gained somewhere else.

What is a need?

A need is something that is essential for us to survive.

Give an example of a need.

Food or drink.

What is a want?

A want is something that is desired.

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Marketing fundamentals

MARKETING FUNDAMENTALS

Application of the marketing mix is no longer relevant for contemporary approaches to marketing., write an essay that critically assesses this statement. is the statement true, introduction.

The marketing mix is among the most widely accepted marketing concepts in the world of business (McCarthy 1960; Bartels 1983; Shapiro 1985). However, over the years the marketing mix has come under intense scrutiny from both academics of the marketing discipline and practitioners alike. This feeling was captured by Constantinides when he stated:

”Few topics of the commercial theory have so intensively inspired as well as divided the marketing academia as the 4Ps Marketing Mix framework” (Constantinides, 2006: p.407)

This essay aims to critically assess the relevance of the marketing mix for the current marketing approaches. To accomplish this, an overview of the marketing mix is given. This is followed by an exploration of some of the contemporary approaches to marketing which will lead to a consideration of the arguments in support of the marketing mix and the criticisms against it. Finally, in the light of the arguments and criticisms the relevance of the marketing mix for contemporary approaches to marketing will be appraised.

OVERVIEW OF THE MARKETING MIX

The marketing mix can be defined as the controllable and tactical marketing tools that the firm combines to achieve the desired response in its target market. It comprises all the measures the firm can employ to stimulate the demand for its goods and/or services (Kotler and Armstrong, 2008). The ultimate goal of any firm is to create a product or service that will be perceived as unique in the eyes of prospective consumers so that they will prefer it to other competing brands. In creating this unique selling proposition (USP), the marketers can blend four basic ingredients in a number of different ways to obtain different results. These four ingredients are usually referred to as the 4Ps and comprise- product, price, place (distribution) and promotion (Baker, 2007).

Costantinides (2006) and Gronroos (1994) trace the origin of the marketing mix to the 1960s when Neil Borden identified twelve controllable marketing components that would yield profit if properly managed. Borden considered the marketing mix to be a concise, realistic and vivid expression of the admixture of the marketing ingredients, techniques and processes chosen by a marketing manager to create a marketing plan (Banting and Ross, 1973; Waterschoot and Van den Bulte, 1992). It was later reduced to four factors by Jerome McCarthy (McCarthy, 1964 cited in Constantinides, 2006) and this simplified version became the most widely accepted definition of the marketing mix (Judd, 2002). The “4Ps” marketing mix commanded utmost respect in the minds of both marketing scholars and practitioners for decades that in the words of Gronroos (1994) and Kent (1986) it was considered heresy to challenge its position as the basic foundation of all marketing thinking. This belief strongly reinforces the dominance of the marketing mix during this period and suggests that there was a need for a theory that could be applied for the solution of most marketing management issues.

According to Harker and Egan (2006) certain economic conditions contributed to the perceived superiority of the marketing mix paradigm. Harker and Egan (2006) opine that a key feature of the United States domestic market after the Second World War was homogeneity of products which resulted in increased demand for standardised consumer products and the rise of the USA as the dominant marketing culture. The demand, notwithstanding, there was need to ensure that consumption matched output (Packard, 1957 cited in Harker and Egan, 2006). Thus, a formal and reliable marketing approach was required to provide this fit (O’Malley and Patterson, 1998). The popularity and dominance of the marketing mix paradigm was further enhanced by its simplicity and ease of communication (Waterschoot and Van den Bulte 1992; Constantinides, 2006; Harker and Egan, 2006).

From the above submission, it can be argued that the marketing mix paradigm was borne out of necessity- a necessity for a simple, realistic and reliable framework that could be applied for the solution of general and specific marketing problems that arose in that era. Considering the under-developed marketing structure and knowledge gap that existed at that time, the formulation of the 4Ps marketing mix paradigm could not have come at a better time. Thus, it goes without saying that the relevance of its application to the transactional marketing approach- the primary approach to marketing in the 20th century- is indubitable.

However, due to the shortcomings of the transactional approach to marketing, there was the need for a paradigm shift from a product-oriented approach to one that focused on the customer. Thus, the academia and marketing practitioners began to question the efficacy of the marketing mix framework as the answer to all marketing problems. The 4Ps were considered too narrow to adequately address the many aspects of marketing management and laid excessive emphasis on the product and processes with little or no thought for the customer. The increased sophistication of customers and the dynamic nature of the business environment meant that organisations had to adapt regularly to the changes that occur in the environment or risk losing market share with the consequence of possible liquidation. This situation led to the emergence of several modern marketing approaches that shifted attention from the product to the customer thereby ushering in the era of market orientation.

Some of the contemporary approaches to marketing that emerged as a response to the continuous evolution of the business environment include Relationship marketing, Interaction marketing and Network marketing (Constantinides, 2006; Coviello et al, 1997; Gronroos, 1997). These modern approaches demanded a re-thinking of the marketing process in order to achieve effective and efficient implementation. Based on this need for a re-definition of the marketing process, it was inevitable that the marketing mix paradigm would come up for debate with regards to the relevance of its application to the aforementioned marketing approaches.

Relationship marketing involves the development and maintenance of mutually satisfying exchange relations with customers and other parties at a profit, so that the objectives of all the parties are realised (Gronroos, 1994; Baker, 2007, Coviello et al, 1997). The implication of this viewpoint is that every organisation must cooperate with other parties within its business environment and beyond in order to achieve its ultimate aim. The 21st century market is replete with opportunities and challenges that were relatively unknown in the 20th century. To harness the opportunities and overcome the challenges effectively and efficiently entails building up a long-term relationship with the customers and all other stakeholders that directly or indirectly influence an organisation’s operations. This situation suggests that certain changes would have to occur in the organisation’s overall business processes, especially the marketing processes, to ensure a seamless implementation of relationship marketing.

Gronroos (1994), Gummesson (1994, 1997) and Goldsmith (1999) argue that firms practising a transactional marketing approach stand to benefit most from a traditional marketing mix approach because of the absence of personal interactions with their customers and emphasis on mass markets. However, the marketing mix tends to be restrictive for a relation-oriented firm. The most significant customer interactions from a marketing success perspective are outside the scope of the marketing mix and marketing specialists. The customer decides whether to maintain business relations with a firm based on the effect of his/her contacts with the people, technology, and operations and other non-marketing functions. This position is supported by Ailawadi et al (2001) who doubt the impact of promotion and advertising as marketing tools for customer retention. This proposition suggests that the customer’s interactions with any firm transcends the marketing functions and includes all indirect transactions with the non-marketing functions within the firm. Relationship marketing advocates the inclusion of all the functional units in any organisation towards creating value for the customer. The effective and efficient implementation of this customer-oriented approach requires that certain critical changes occur within the organisation. These requisite changes will cut across the whole organisation, but will focus more on the marketing functions because of the direct and frequent interactions with the customers. The change in the marketing functions will lead to a complete shift or modifications in the methods tools adopted by the organisation in creating value for the customer. This, invariably, would necessitate a review of the organisation’s marketing mix. Such reviews have surfaced in Kotler’s redefinition of the 4Ps to the 4Cs namely, customer solution, customer cost, convenience and communication (Kotler et al., 1999 cited in Kruger et al., 2003 and Ashcroft and Hoey 1999). This redefinition suggests a shift from the era of product-orientation to customer-orientation which is the essence of relationship marketing. However, it also suggests that the marketing mix is still relevant but there is need for some modification to suit the dynamic marketing environment. Judd (2002) proposes an expansion of the 4Ps marketing mix by including the employees of any organisation as the fifth “P”. This viewpoint is supported by the fact that the employees are an integral part of any organisation. They are the point of contact between the organisation and its customers. However, like Kotler’s 4Cs, this proposed expansion of the 4Ps to 5Ps also points to the relevance of the marketing mix, but with some modification to suit appropriate markets. This argument is supported by Groonroos (1994) when he opines that relationships do not operate in isolation. Relationships function in combination with the other marketing tools already in operation within a given organisation in order to successfully create value for both the customer and the organisation. The application of the traditional marketing mix elements of product, price, promotion and place would be necessary at some point in the interactions between the customer and the organisation. This standpoint implies that, notwithstanding the criticisms of the traditional marketing mix paradigm, its elements still contribute in one way or the other in the effective implementation of the relationship marketing approach.

Criticism of the marketing mix has also arisen in the area of social marketing. Murphy et al., (1978) argue that the implementation of certain marketing strategies is unethical especially in the area of packaging, promotion, price and distribution channels. This argument tends to suggest that the marketing mix is responsible for the unethical practices that may occur during implementation. However, responsibility for the implementation of the marketing mix is within the purview of the marketing and non-marketing functional units within the organisation. They are responsible for any unethical practices that may occur in the course of implementing the marketing strategies and not the marketing mix.

Also, the marketing mix has been applied by social marketing in the public health sector. Montoya et al, (2005), Pirani and Reizes (2005) and Grier and Bryant (2005) agree that the application of the marketing mix is essential in the role of social marketing in public health. The elements are combined in different ways to bring about the desired change in the target market.

Attempts have been made to incorporate the marketing mix theory into other non-marketing sectors. Lees-Marshment (2001) suggests that political parties have adopted a “marketing-orientation” with significant electoral success. Lloyd (2003) suggests the application of the marketing mix to the political arena by recommending the development of a political marketing mix that comprises five components namely, services offering, representation, accommodation, investment and outcome. The implication of the aforementioned suggestions is that the marketing mix can contribute enormously to the smooth operation of political parties in particular, and the government in general.

Though the marketing mix has been criticised as being too narrow and product-oriented, it is still relevant in contemporary marketing approaches. As has been discussed above, there is need for some modifications in the mix portfolio. Redefinition of the marketing mix does not reduce its relevance; it only serves to shift its focus to the modern trends in the market place. Also, the relevance of the marketing mix is reinforced by its application to non-marketing sectors such as politics and the public health sector. This shift suggests that with the right modifications, the marketing mix can be applied in any area of human endeavour.

Ailawadi, K. L., Lehmann, D.R. and Neslin, S.A. (2001), “Market response to a major policy change in the marketing mix: learning from Procter & Gamble’s value pricing strategy”. Journal of Marketing , Vol.65, No.1, pp.44-61.

Ashcroft, L. and Hoey, C. (2001), PR, marketing and the Internet: implications for information professionals. Li brary Management , Vol.22, No. 1/2, pp.68-74.

Banting, P.M. and Ross, E.M. (1973), The marketing mix: a Canadian perspective. Journal of Marketing Science , Vol.1, No.1, pp.1-11.

Bartels, R. (1983), “The development of marketing thought”. Ohio: Grid Publishing.

Constantinides, E. (2006), The marketing mix revisited: towards the 21st century marketing. Journal of Marketing Management , Vol.22, pp.407-438.

Coviello, N.E., Brodie, R.J. and Munro, H.J. (1997), “Understanding contemporary marketing: development of a classification scheme. Journal of Marketing Management , Vol.13, No.6, pp.501-522.

Goldsmith, R. (1999), “The personalised marketplace: beyond the 4Ps”. Marketing Intelligence and Planning , pp.178-185.

Grier, S. and Bryant C.A. (2005), “Social marketing in public health”. Annual Review Public Health , Vol.26, pp.319-339.

Gronroos, C. (1994). From marketing mix to relationship marketing: towards a paradigm shift in marketing. Management Decision , Vol.32, N0.2, pp.4-20.

Gronroos, C. (1997). From marketing mix to relationship marketing: towards a paradigm shift in marketing. Management Decision , Vol.35, No.4, pp.322-339.

Gummesson, E. (1994). Making relationship marketing operational. International Journal of Service Industry Management , Vol.5, No.5, pp.5-20.

Gummesson, J. (1997). “Relationship marketing as a paradigm shift: some conclusions from the 30R approach”. Management Decision , Vol.35, No.4, pp.267-272.

Harker, M. and Egan J. (2006), The past, present and future of relationship marketing. Journal of Marketing Management , Vol.22, pp.215-242.

Judd, V. (2002). Achieving a customer orientation using “people-power”, the “5th P”. European Journal of Marketing , Vol.37, No. 10, pp.1301-1313.

Kent, R.A. (1986). “Faith in the 4P’s: an alternative”. Journal of Marketing Management , Vol.2, No.2, pp.145-154.

Kotler, P., Armstrong, G., Saunders, J. and Wong V. (1999), Principles of marketing. London : Prentice Hall.

Kotler, P. and Armstrong G. (2008), Principles of marketing. New Jersey: Pearson Prentice Hall.

Kruger, C.C., Lu, N. and Swatman, P.M.C. (2003), “Success factors for online music marketing- e-transformation: from the four P’s to the four C’s”, pp. 1-16.

Lees-Marshment, J. (2001), The marriage of politics and marketing. political studies , Vol.49, 692-713.

Lloyd, J. (2003), “Square peg, round hole? Can marketing-based concepts such as the ‘product’ and the ‘marketing mix’ have a useful role in the political arena?”. pp. 1-24.

McCarthy, E. (1960), Basic marketing: A managerial approach. Illinois: Irwin.

Montoya, J. A., Kent, C. K., Rotblatt, H., Mccright, J., Kerndt, P. R., and Klausner, J. D. (2005), Social marketing campaign significantly associated with increases in syphilis testing among gay and bisexual men in San Francisco. Sexually Transmitted Diseases , Vol.32, No.7, pp.395-399.

Murphy, P. E., Laczniak, G. R. and Lusch, R. F. (1978). Ethical guidelines for business and social marketing. Journal of the Academy of Marketing Sciences , Vol.6, No.3, pp.195-205.

O’ Malley, L. and Patterson, M. (1998). Vanishing point: the mix management paradigm re-viewed. Journal of Marketing Management , Vol.14, pp.829-851.

Pirani, S. and Reizes, T. (2005). The turning point social marketing national excellence collaboration: integrating social marketing into routine public health practice. Journal of Public Health Management , Vol.11, No.2, pp.131-138.

Shapiro, B. (1985). “Rejuvenating the marketing mix”. Havard Business Review , pp. 28-34.

Van Waterschoot, W. and Van den Bulte, C. (1992). “The 4P classification of the marketing mix revisited”. Journal of Marketing , Vol.56, No.4, pp.83-93.

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What is Marketing, and What's Its Purpose?

Caroline Forsey

Updated: January 24, 2022

Published: February 25, 2021

Dictionary.com defines marketing as, "the action or business of promoting and selling products or services, including market research and advertising."

marketing

If you work in a marketing role like I do, it's probably difficult for you to define marketing even though you see and use it every day -- the term marketing is a bit all-encompassing and variable for a straightforward definition.

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This definition feels unhelpful.

The selling part, for instance, overlaps a little too snuggly with a "what is sales" definition, and the word advertising makes me think of Mad Men brainstorming sessions.

But upon digging deeper, I began seeing that actually, marketing does overlap heavily with advertising and sales. Marketing is present in all stages of the business, beginning to end.

marketing fundamentals essay

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What is marketing?

Marketing refers to any actions a company takes to attract an audience to the company's product or services through high-quality messaging. Marketing aims to deliver standalone value for prospects and consumers through content, with the long-term goal of demonstrating product value, strengthening brand loyalty, and ultimately increasing sales.

At first, I wondered why marketing was a necessary component during product development, or a sales pitch, or retail distribution. But it makes sense when you think about it -- marketers have the firmest finger on the pulse of your consumer persona.

The purpose of marketing is to research and analyze your consumers all the time, conduct focus groups, send out surveys, study online shopping habits, and ask one underlying question: "Where, when, and how does our consumer want to communicate with our business?"

Here, let's explore the purposes of marketing, along with types of marketing, the 4 P's of marketing, and the difference between marketing and advertising.

Whether you're a seasoned marketer looking to refresh your definitions, or a beginner looking to understand what marketing is in the first place, we've got you covered. Let's dive in. 

Purpose of Marketing

Marketing is the process of getting people interested in your company's product or service. This happens through market research, analysis, and understanding your ideal customer's interests. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.

Modern marketing began in the 1950s when people started to use more than just print media to endorse a product. As TV -- and soon, the internet -- entered households, marketers could conduct entire campaigns across multiple platforms. And as you might expect, over the last 70 years, marketers have become increasingly important to fine-tuning how a business sells a product to consumers to optimize success.

In fact, the fundamental purpose of marketing is to attract consumers to your brand through messaging. Ideally, that messaging will helpful and educational to your target audience so you can convert consumers into leads.

Today, there are literally dozens of places one can carry out a marketing campaign -- where does one do it in the 21st century?

Types of Marketing

Where your marketing campaigns live depends entirely on where your customers spend their time. It's up to you to conduct market research that determines which types of marketing -- and which mix of tools within each type -- is best for building your brand. Here are several types of marketing that are relevant today, some of which have stood the test of time:

  • Internet marketing: Inspired by an Excedrin product campaign that took place online, the very idea of having a presence on the internet for business reasons is a type of marketing in and of itself.
  • Search engine optimization: Abbreviated "SEO," this is the process of optimizing content on a website so that it appears in search engine results. It's used by marketers to attract people who perform searches that imply they're interested in learning about a particular industry.
  • Blog marketing: Blogs are no longer exclusive to the individual writer. Brands now publish blogs to write about their industry and nurture the interest of potential customers who browse the internet for information.
  • Social media marketing: Businesses can use Facebook, Instagram, Twitter, LinkedIn, and similar social networks to create impressions on their audience over time.
  • Print marketing: As newspapers and magazines get better at understanding who subscribes to their print material, businesses continue to sponsor articles, photography, and similar content in the publications their customers are reading.
  • Search engine marketing: This type of marketing is a bit different than SEO, which is described above. Businesses can now pay a search engine to place links on pages of its index that get high exposure to their audience. (It's a concept called "pay-per-click" -- I'll show you an example of this in the next section).
  • Video marketing: While there were once just commercials, marketers now put money into creating and publishing all kinds of videos that entertain and educate their core customers.

Marketing and Advertising

If marketing is a wheel, advertising is one spoke of that wheel.

Marketing entails product development, market research, product distribution, sales strategy, public relations, and customer support. Marketing is necessary in all stages of a business's selling journey, and it can use numerous platforms, social media channels, and teams within their organization to identify their audience, communicate to it, amplify its voice, and build brand loyalty over time.

On the other hand, advertising is just one component of marketing. It's a strategic effort, usually paid for, to spread awareness of a product or service as a part of the more holistic goals outlined above. Put simply, it's not the only method used by marketers to sell a product.

marketing fundamentals essay

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Here's an example (keep reading, there's a quiz at the end of it):

Let's say a business is rolling out a brand new product and wants to create a campaign promoting that product to its customer base. This company's channels of choice are Facebook, Instagram, Google, and its company website. It uses all of these spaces to support its various campaigns every quarter and generate leads through those campaigns.

To broadcast its new product launch, it publishes a downloadable product guide to its website, posts a video to Instagram demonstrating its new product, and invests in a series of sponsored search results on Google directing traffic to a new product page on its website.

Now, which of the above decisions were marketing, and which were advertising?

The advertising took place on Instagram and Google . Instagram generally isn't an advertising channel, but when used for branding, you can develop a base of followers that's primed for a gentle product announcement every now and again. Google was definitely used for advertising in this example; the company paid for space on Google -- a program known as pay-per-click (PPC) -- on which to drive traffic to a specific page focused on its product. A classic online ad.

Where did the marketing take place? This was a bit of a trick question, as the marketing was the entire process . By aligning Instagram, Google, and its own website around a customer-focused initiative, the company ran a three-part marketing campaign that identified its audience, created a message for that audience, and delivered it across the industry to maximize its impact.

The 4 Ps of Marketing

In the 1960's, E Jerome McCarthy came up with the 4 Ps of marketing: product, price, place, promotion.

Essentially, these 4 Ps explain how marketing interacts with each stage of the business.

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marketing mix template

Let's say you come up with an idea for a product you want your business to sell. What's next? You probably won't be successful if you just start selling it.

Instead, you need your marketing team to do market research and answer some critical questions: Who's your target audience? Is there market fit for this product? What messaging will increase product sales, and on which platforms? How should your product developers modify the product to increase likelihood of success? What do focus groups think of the product, and what questions or hesitations do they have?

Marketers use the answers to these questions to help businesses understand the demand for the product and increase product quality by mentioning concerns stemming from focus group or survey participants.

Your marketing team will check out competitors' product prices, or use focus groups and surveys, to estimate how much your ideal customer is willing to pay. Price it too high, and you'll lose out on a solid customer base. Price it too low, and you might lose more money than you gain. Fortunately, marketers can use industry research and consumer analysis to gauge a good price range.

It's critical that your marketing department uses their understanding and analysis of your business's consumers to offer suggestions for how and where to sell your product. Perhaps they believe an ecommerce site works better than a retail location, or vice versa. Or, maybe they can offer insights into which locations would be most viable to sell your product, either nationally and internationally.

This P is likely the one you expected from the get-go: promotion entails any online or print advertisement, event, or discount your marketing team creates to increase awareness and interest in your product, and, ultimately, lead to more sales. During this stage, you'll likely see methods like public relations campaigns, advertisements, or social media promotions.

Hopefully, our definition and the four Ps help you understand marketing's purpose and how to define it. Marketing intersects with all areas of a business, so it's important you understand how to use marketing to increase your business's efficiency and success.

Editor's note: This post was originally published in May 2018 and has been updated for comprehensiveness.

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marketing fundamentals essay

Marketing Principles: The Four Key Concepts To Understand

Today, we’re going back to basics.

If you’ve heard of the classic principles of marketing, you may also know that they’ve been around for a while. A long while—more than 60 years!

It started with the four principles of marketing, also called the 4 Ps or the 4 Ps marketing matrix. This framework was first published in 1960 (though its origins can be traced back to the 1940s). Then in 1981, researchers extended that model to the seven principles of marketing, or the 7 Ps.

There’s a whole lot that’s changed since then—for example, that tiny invention called the internet.

But there’s no denying that these basic principles of marketing have built a strong modern blueprint for how to run a successful brand. On your path to building and growing your own business, you’ll find that the Ps offer several gems of wisdom to apply to your marketing strategy .

In this article, we’ll look at the original 4 Ps and the extended 7 Ps model, as well as some variations and interpretations that other experts have.

We’ll also look at examples of these principles and how they translate into an effective marketing strategy.

marketing fundamentals essay

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marketing fundamentals essay

What are the principles of marketing?

While there are many interpretations and applications today, it all started with the four principles of marketing: product, price, place, and promotion . The extended 7 Ps version added a few more: people, process, and physical evidence.

seven important marketing principles

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Booms and Bitner, the marketers who added the last three, thought that the original 4 Ps model was too focused on marketing tangible products. Their version caters to the unique considerations of service-based businesses.

The principles of marketing concept is part of the “marketing mix,” which is a blanket term to describe all the strategies and tactics that businesses can use to bring their products and services to market.

With this in mind, you can think of all those Ps as a decision-making framework. It guides businesses on their journey of choosing the right marketing plan for their individual needs.

Variations of the 7 Ps

If you scour through online resources, you’ll find some variations in how people define the 7 Ps. For example, some marketers replace process and physical evidence with positioning and packaging .

In some circles, there’s also an eighth principle of marketing: productivity and quality . Yet another one added to the mix is partners .

But we don’t want you to drown in Ps, so we’ll just focus on the most crucial principles we listed in the last section.

The principles of marketing explained

Before we dig into examples and tips, let’s quickly define each of the seven principles of marketing.

  • Product. The tangible item or service that you’re selling. Does it address the needs, wants, and expectations of your prospective customers?
  • Price. It may take some trial and error, but it’s important to get your pricing strategy right. Too high and you’ll lose customers; too low and you’ll cut into your profit margins—and eventually risk going out of business.
  • Place. What are the optimal distribution strategies, or places and ways that your offering is sold and delivered?
  • Promotion. This is what most people think when they think of marketing. Promotion includes tactics like sales, advertising, events, and other marketing channels to get your offerings in front of your target market .
  • People. Here’s where we cross into the extended 7 Ps. People refers to “human interfaces” where needed—a way for customers to connect with real people on your team during the marketing process.
  • Process. How smooth is the business process from start to finish, from when they first discover your brand to when they receive their product or service? How can you make it smoother?
  • Physical evidence. While a product-based business sells physical items, a service-based business has other physical indicators of their brand and offerings, like their website, brochures, and business cards. How well do these items play into your overall brand image and promotions?

Importance of marketing principles

If you’re a business owner or an aspiring one, you’ve surely noticed by now the sheer volume of choices you have—from picking the right things to sell to getting your target audience to buy them to keeping them satisfied and coming back for more .

When you examine and thoughtfully apply the marketing principles, you’ll be able to make smarter, more informed business choices. This, in turn, will dramatically improve your chances of building a brand that’s truly valuable to your customers, your team, and yourself.

As an added bonus, the 7 Ps are sustainable marketing principles that set your brand up for long-term stability. The conditions of the market will constantly change, but the strategies you build from these principles will help to fortify and protect your company from the market’s inevitable volatility.

Now, let’s break down each of the seven marketing principles and how you can apply these concepts to your own business, whether it’s a brick-and-mortar store, online store, or service-based company.

Marketing principles and strategies: A breakdown

Product is arguably the core of the original four principles of marketing. If you don’t have a good product, you don’t have a good business, right?

One of the most important considerations for your product or service is making sure there’s a strong demand. Do customers really want it? Does it truly fulfill a need in the marketplace?

The best way to explore these questions is through good old-fashioned market research , which can be done through methods like online research, firsthand interviews and analysis, and surveys.

Market research should take a deep dive into your audience: their traits, desires, needs, and behaviors. Market segmentation can help you identify these key considerations, which then sets you up to deliver star products that they really love.

Once you’ve made some sales, consider the customers’ satisfaction. Did they get what they expected, or is there some room for improvement?

When you’re examining the relevance and quality of your offering, consider all the elements, like the build, quality, and uses, as well as potential needs like repairs and accessories.

Pricing strategy is critical to the success of your business, which is why you should always be optimizing your prices for your audience and market niche .

Even if you’ve found a price point that seems to work fantastically, there are still uncontrollable elements that can change your circumstances, like a new development or competitors in your niche.

To set pricing, there are a couple of strategies to keep in mind. Say you’ve put a lot of money into building that business, and you need to recoup your investment quickly. You might want to start with a higher price and see how it performs before lowering it.

If you have low overhead, like a dropshipping store , you can get away with lower pricing to start and see how your audience reacts. If you’re selling a high volume, you might have leeway to raise your prices to see how that impacts sales.

Sales promotions are an excellent way to entice new customers—but be careful to ensure you’re not discounting more than your company can afford. Check out this video for help with calculating your profit margins .

If your business is fully online, like an ecommerce store or a search marketing agency, you’ve already got this marketing principle figured out: your website.

Even still, you might want to sell your products in online marketplaces like Amazon , eBay , and Bonanza .

If your business isn’t 100% online, place is a more important consideration. If you have a specialized product, you might need to get creative with the places you sell it to ensure that you’re getting your offering in front of the right audience.

For example, a small business selling organic hand-crafted soaps might consider several places, like:

  • Online through a branded company website
  • Online craft marketplaces, like Etsy
  • Social media platforms, like Facebook and Instagram
  • Local events, like a weekly farmers market or seasonal festival
  • National and international events, like beauty and skin care tradeshows and conferences
  • Partnering with retail shops, like securing shelf space in a local or chain store that sells related products
  • Partnering with large companies and distributors, like selling bulk soap orders wholesale

Regardless of the place you choose, it’s important to understand where your target audience likes to buy items and spend their time. This way, you can position yourself so they don’t miss you.

4. Promotion

Like we mentioned earlier, this marketing principle covers most of the strategies and tactics that people think of when they think of marketing and advertising .

In some ways, promotion is intertwined with place. For example, selling on Instagram or Facebook requires a social media marketing strategy . Likewise, selling at trade shows or a farmers market requires a direct marketing strategy.

While there are many promotion strategies that take place in the real world, like setting up store displays, passing out flyers, hosting events, and even going door-to-door, virtually every business these days does some—if not all—of their promotion online.

Here’s a list of online promotional approaches that are commonly used by businesses nowadays:

  • Content marketing , including blogs, videos, ebooks, graphics, podcasts, and webinars
  • Social media marketing on platforms like Facebook, Instagram, YouTube, and Twitter
  • Influencer marketing , which is a type of social media marketing
  • Email marketing to engage leads and customers and nurture them through the sales funnel
  • Search engine optimization (SEO) to boost search rankings
  • Paid advertising , like Google Ads and social media ads

digital marketing wheel

This principle more or less represents customer service —the human touch of your business that signals to customers that there’s a real person on the other side who’s listening and working to give them a good experience with the brand.

Now more than ever, it’s critical to give your customers positive experiences. Research from Accenture shows that US companies lose a whopping $1.7 trillion to customers switching after poor experiences. 

If you’re running an online business, customer service might be as simple as responding to emails, phone calls, and social media posts from customers.

For in-person brands, this will also include your team members who interact with customers, like your employees working at your store location or out working your event booths.

When staffing and setting up customer service processes, set up people and processes that really reflect your brand’s personality and cater to the types of experiences your target audience wants and expects.

Process is one of the marketing principles that helps to streamline and simplify your operations, which in turn has benefits for virtually every aspect of your business. You’ll find that optimized processes contribute to lower costs, more productivity, and a reliable customer experience that stays consistent for each customer.

business process management

To optimize your processes, it’s important to create standardized, integrated workflows that are easy for all of your team members to follow.

For example, how are orders fulfilled and offerings delivered? How are customer service inquiries answered? Does your team use specialized software to track and manage these tasks, while ensuring that nothing slips between the cracks?

A great way to create reliable, repeatable processes is to document them. For example, you can create official spreadsheets and instruction manuals that anyone can reference when certain issues come up. You can also create training materials so that all new employees receive the same training and handle tasks the same way.

7. Physical evidence

The last of our seven principles of marketing is physical evidence. Every brand has physical evidence, even if it’s service-based or digital.

For example, one piece of a plumber’s evidence is a fixed drain, and a piece of a dog walker’s evidence is a happy dog that isn’t peeing all over your house. Even before those services are rendered or a product is sold, there’s other evidence, like the company’s website, sales materials, and interaction with sales people.

The main takeaway here is to ensure that every touchpoint of your business does the following:

  • Aligns with the brand identity you’ve created
  • Enhances the customer experience by clarifying your goals or catering to theirs
  • Ensures that customer expectations are met, and that your final offering matches the promises you made during the sales process

Turning marketing principles into brand success

These basic principles of marketing were designed to be broad, which can be both a positive and a negative.

While they might not be 100% applicable to your 21st-century business, we have no doubts that there are several ideas and concepts that are important, and even critical, to making sure your business rises above the competition and successfully carves a slice of the market.

If you’re looking to start a new business , take the time to think critically about the seven principles of marketing and how you can apply them to your blooming business model.

Even if you already have a business, it’s not too late to see where you have room for improvement. In fact, the world’s most successful brands never sleep on this—they’re always looking for ways to improve, because the world of business and commerce is constantly changing.

Which of these marketing principles stands out to you? Let us know in the comments below.

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Fundamentals of Marketing: Branding Essay

Introduction.

Branding is products or service’s identification through symbols, signs, a specific name, or a combination of them and differentiates the products or services from competitors. The branded product consists of some attributes, values, culture, benefits, personality, and users as well. Brand products entered the market and pass their life span. Over its lifetime it is introduced, gets its growth ness & maturity, and finally faces declination, this process called product life cycle (PLC ). So a product life cycle has 4 distinct stages:

Introduction Stage: At the very first stage product just launched into the market with large-scale promotional and marketing activities and with its basic features. Here profit is low because costs are high due to the large promotional activities. Customers are more innovative. But the company gets the opportunity to expand their market, as competitors are few so there is a trend to be growth.

Growth Stage: As the markets are satisfied with a new product, the product entered into the growth stage where sales are quickly enlarged. Buyers who purchase earlier, continue to buy and new consumers take initiative to buy if they are motivated by others or any kinds of means. New competitors entered the market with different product attributes that lead to expanding the market. Here profit raises and per customer cost is average, a number of outlet increases.

In this stage due to trade deficit between large market share and maximum current profit. The company faces losing its market dominancy that leads to following the next stage.

Maturity stage: The very part of this stage sale is to increase at a slow rate. This stage is normally longer than previous stages, weak competitors lose their market share and sometimes get out from the market, intensified price completion exists in the market. New competitors entered the market with sophisticated elements and ideas. Therefore, the product moves to the next stage.

Decline stage : In the decline stage product sales shrinkage due to technological advances, the interest of consumers may be shifted or increased competition. Stanton, et. al. (1991) states that “[a]dvertising declines and a number of competitors withdraw from the market” (p.199).

Management strategies for these stages of the product life cycle are as follow: “Successful product life cycle management strategies are (1) predict the shape of the proposed product’s cycle even before it is introduced and (2) at each stage to anticipate the marketing requirements of the following stage” (Stanton, et. al., 1991. p.200).

For the introduction stage: Management strategies are as follows:

  • The manager should find out a viable market;
  • Offer basic attributes with the products or services;
  • The product should be distributed through the selective channel;
  • Conduct large marketing promotional campaigns and increase product awareness favorably.

For the growth stage: Management strategies are as follows:

  • Manager may cut-price or keep remain same depending on demand level;
  • Study the market;
  • The promotional campaign should be increased;
  • Intensive channel of distributions established;
  • Less sensitive to take advantage of high demand.

For the maturity stage: Management strategies are as follows:

  • Hold the market through the high promotional campaigns and influence them to switch the product;
  • Increase private sales by increasing outlets and make it near to the door of customers;
  • Diversify the products.

In 1985, coco-cola find that they face great competition from the Pepsi-cola introduces as sweeter cola. Coca-cola conducts research and on the basis of research findings, the company withdraws its product from the market. After 10 weeks, introduce its century formula as ‘classic coke’ (Armstrong & Kotler, 2006, p.335).

For the decline stage : Management strategies are as follows:

  • Redesign the product through adding features, by increasing quality;
  • Identified unprofitable outlets;
  • Decreasing the sales promotion campaign to reduce cost.

How changing of environmental factors affecting marketing decision in case of product elements

  • Cultural factor : in the subcontinent peoples hold strong beliefs, religious norms, and values. Basically, Muslims believe that it is prohibited to take any kind of alcohol coco-cola to have this ingredient. This will change the marketing decision to market the coco-cola in the subcontinent.
  • Economic condition: Most of the subcontinent country’s people have low buying power and face inflation frequently. For this reason, coco-cola recently changes its brand shape in India as if is affordable for low buying power consumers.
  • Technological factor: Technological development creates a new market. To establish new technology government approval affects marketing decisions. In the subcontinent, (India) when coco-cola established its first plant, the government asked to provide evidence whether it is injurious for heath or not.

Armstrong, G., & Kotler, P. (2006). Marketing: An introduction. Upper Saddle River, NJ: Prentice Hall.

Stanton, J. William. et. al., (1991). Fundamental of Marketing. 9 th ed, New York: McGraw-Hill.

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  • Chicago (N-B)

IvyPanda. (2021, October 26). Fundamentals of Marketing: Branding. https://ivypanda.com/essays/fundamentals-of-marketing-branding/

"Fundamentals of Marketing: Branding." IvyPanda , 26 Oct. 2021, ivypanda.com/essays/fundamentals-of-marketing-branding/.

IvyPanda . (2021) 'Fundamentals of Marketing: Branding'. 26 October.

IvyPanda . 2021. "Fundamentals of Marketing: Branding." October 26, 2021. https://ivypanda.com/essays/fundamentals-of-marketing-branding/.

1. IvyPanda . "Fundamentals of Marketing: Branding." October 26, 2021. https://ivypanda.com/essays/fundamentals-of-marketing-branding/.

Bibliography

IvyPanda . "Fundamentals of Marketing: Branding." October 26, 2021. https://ivypanda.com/essays/fundamentals-of-marketing-branding/.

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Example Of Marketing Fundamentals Essay

Type of paper: Essay

Topic: Business , World , Internet , Marketing , Company , Stakeholder , Customers , Strategy

Words: 2250

Published: 03/22/2020

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Introduction

The functions of marketing are very essential for the sake of an organization, as far as brining economic and non economic chances is concerned. Every organization in this world is trying to mobilize their operations in different places for their future effectiveness and strategic well being; however there are only few of them which will be getting extra apprehension from this action (Forsyth, 2010). Such mobilization and enhancement has been referred as the Going Global, which is currently emerging as the most important elements for an entity. There are certain functions that gives an indemnity to a company that their operations would be successful in a given place, and at a given time period. There are certain pre-requisites that should be taken into account by those companies which are intending to enter in a region with positive attitudes. In order to ascertain the growth of the company while expanding their operations in international market, there are certain aspects that should be consider accordingly. Only those organizations that have a positive attitude towards their productivity are the one that have a positive attitude in their personality (Russell, 2010). In this assignment, operational expansion and marketing plan is required of ASOS with evaluating number of things accordingly. There is no country which has been given for the same analysis; however there is no need even to select a country.

Analysis & Findings

ASOS: An Overview ASOS is a British based online fashion and beauty store that has a physical main hub in the London region, England. The company is in the favor of having aimed over the fashion and beauty function for the young adults. ASOS is one of those companies of the world which has number of brands under its name, and currently they own around 850 brands that covered a whole range of clothing and accessories (Russell, 2010). ASOS has emerged as a global online fashion and beauty retailer, which has a huge list of brands to cover, like 50,000 along with other own-labeled product lines that covers the area of menswear, accessories, footwear, jewelry and beauty. The warehouse has new products coming after a certain time period. There are certain websites which are covering the entire region in an effective manner. The current website of the country is targeting the United Kingdom, USA, Australia, Germany and other countries as well. Apart from that, there are over 237 countries of the world. ASOS is currently serving around 7.1 million customers. The shares of the company are highly effective, and the shares are activity trading in the London Stock Exchange (LSE). ASOS generated net revenue of £753.8m in the financial year 2013 with net income of £29m in the same year. There are around 4,000 employees are working with the company. As per the outline of this analysis, the company has to prolong the same for a certain time period accordingly (Financials.morningstar.com, 2014).

Audit of ASOS’S Internal and External Environment

In the field of strategic marketing and management, there are certain tools and matrices that can be taken into account for the same and among them there is a name of SWOT analysis as well (Withey and Lancaster, 2003). SWOT analysis will over both internal and external functions accordingly for an organization to show their relevance and effectiveness.

Internal Environment Analysis

In order to analyze the internal environment, two elements of SWOT (Strengths and Weaknesses) will be considering accordingly, and the same are as follows

- ASOS is currently featuring a very high and effective variety of product based categorizes that include the women’s and men’s clothing, footwear and makeup - ASOS offers free of cost shipping services along with free returns to all of their global customers - The company is currently having a huge list of brands - The marketing function of ASOS is very strong comprises on strong website content ardor, along with exceptional utilization social media and other banner advertising through the media and renowned celebrities (Analysis, 2013) - The sales of ASOS is also increasing tremendously well outside of the UK market as well that represents a total share of 64% in the overall sales of the company - The financial power of the company can be analyzed with the fact that last year they generated net income of $ 77 million - ASOS has passionate and knowledgeable employees along with effective and intelligent management that assists in their core operations, and will work them in the future as well

- ASOS is having its operations Online only; therefore the customers don’t have any option to try the clothes prior than making a buying decision - The company is not having the desired marketing platform, such as electronic media to enhance their operations accordingly in the market (Analysis, 2013) - It cost heavy for ASOS around GBP 100 million for the free shipping activity - Weak Marketing Campaign has been destroying the image of the company heavily from last five years

External Environment Analysis

On the contrary to internal analysis, there is a section devoted in the SWOT analysis with the name of External Analysis. In the external environment analysis, opportunities and threats are the two elements that found interactive, and it will be implementing on the business and operations of ASOS.

Opportunities

- Currently, the people are moving towards spending their money on the unique products provided by different renowned companies of the world, like ASOS - The consumer trends are enhancing particularly well, as the consumers are now purchasing the things from mobile and tablets accordingly (Analysis, 2013) - Globalization is increasing tremendously well in all over the world, due to which the sales of online stores are increasing effectively in the market. - Online buying and selling trends are increasing heavily in all over the world, and customers are focusing on the international brands

- The consumers have less money due to the economic crisis - The consumer trends are increasing the threats in number of world - The stance of competition is increasing heavily for ASOS

Audit of ASOS Stakeholders

Stakeholders are very important for the organizations, and there are two important kinds of them, known as Internal Stakeholders and external stakeholders. Internal stakeholders are the consumers and employees, while external stakeholders are the shareholders of the company. In this part, external shareholders have been considered along with a tool of Return on Equity (ROE) (Financials.morningstar.com, 2014). ASOS is one of those companies of the world that has a remarkable tendency to maintain their external shareholders for a long span of time. The company gave full proxy rights to their external shareholders from which they can taken any action, including the hiring and firing of the individuals and management officials. ASOS take good care of their shareholders accordingly. Return on Equity (ROE) is the tool which has been taken into account. The ROE shows the ability of the company to main the effectiveness of their shareholders. ASOS is having a great time in terms of managing their shareholders. Apart from arranging sufficient amount of Annual General Meetings and Extraordinary General Meetings, the company is also maintaining a healthy ROE. In the year 2008, the ROE of the company was 41.54% that decreased for three consecutive years due to the severity of the current economic crisis; however it was still place in the positivity. In the year 2012 and 2013, the ROE of ASOS was 26.62% and 30.80% respectively (Financials.morningstar.com, 2014). This particular shareholder’s audit is in the favor of the company, and will be in a definite range of effectiveness in the near future. ASOS can enhance their productivity in the future with this current effective measures, and it will certain assist the company to expand their operations further in the market.

ASOS Management Orientation

According to the case study, ASOS is trying to expand their core operations in different parts of the world, and for this purpose the company has to make suitable marketing objectives accordingly. SMART approach should have been made accordingly, which should be specific, measureable, achievable, reliable and timely (Withey and Lancaster, 2003). Specific: The marketing orientation function to expand the operations should be specific, and should have a flavor of economic and non economic benefits in it. Measureable: All the marketing activities should be measureable and effective for the companies accordingly, and it should be measured by analyzing its effects over the future productivity of ASOS Achievable: ASOS should come up with those marketing based activities and functions through which their targets can be achieved effectively and comprehensively. It is not an easy target for the company to achieve everything they want during the expansion process; however stay devoted will certainly help them to bring the things in the right manner for them in the future. Reliable: The marketing action which the company is strategizing to have should be reliable and effective, and should have the ability to maintain a perfect tradeoff among the company and its employees. The management should come up with reliable and achievable targets to be ascertaining the growth of the company in the near future. Timely: The management of ASOS should come those management strategies and activities which are timely, and can attained effectiveness for them in their entire future effectiveness

Evaluation of Marketing Mix

ASOS is trying to expand their operations and fulfill its marketing objectives of the next 12 months, and it is essential for the marketing mix function, which has product, price, place and promotional strategies (Withey and Lancaster, 2003). Product: The product line of ASOS is extremely broad and effective. The company currently owns around 50,000 different brands covering from different parts of the world. Therefore, there is no need to expand the level and amount of products heavily, but there is a need to further enhance the quality of the existing brands for the company. The company can expand their operations with complying with their marketing objectives accordingly. Pricing: Pricing Strategy is an important strategy for the organizations, and especially for those organizations which are having a great time in their functionality. Currently, the pricing strategy used by ASOS is COMPETITIVE PRICING STRATEGY, in their existing market. However, the company should have PENETRATION PRICING STRATEGTY, as soon as they start to expand their operations in different markets, or to achieve their marketing objectives for the next 12 months. Place: Currently, ASOS is going and growing with ONLINE place strategy, in which every buying and selling of products take place online, however the company has the chance to enhance their core operations accordingly with the help of establishing physical units from which they can target the people accordingly. For their long term objectives, the company should cover OFFLINE Place Strategy as well. Promotion: Promotional Activities are extremely essential and important for the organizations particularly. ASOS Inc should expand their core operations with the help of both electronic and non electronic media channels, like News papers, Televisions and others. One of the best methods which are currently emerging is Social media networking. ASOS has to use this particular concept, as it will create a cost efficient solution for the company by bringing positivity in their courses of action.

ASOS Corporate Social Responsibility

The Corporate Social Responsibility (CSR) is an important view of operations, and it is essential for the business ethics particularly. ASOS Inc is doing an exceptional job in terms of operating their functions. There are four aspects from which the corporate social responsibility of the company can be overcome accordingly Customers: ASOS is responsible for managing their operations in a perfect manner, and it should be done by maintaining a perfect tradeoff among the management and the consumers. ASOS has to provide quality based products to their customers in order to retain them for a long span of time Shareholders: Currently, the company is managing their external shareholders accordingly, and the chance of enhancement is very bright. The company should maintain a high ROE and other functions for their shareholders to comply with the CSR of the shareholders Employees: The Employees of ASOS are highly satisfied, however for further complying with the CSR, ASOS Inc has to incorporate Management Bi Objective (MBO) approach for their employees for further effectiveness in the market. Management: The Company has to comply with the CSR of management to sustain in the industry for a certain time period, and expand their operations effectively in the next 12 months.

The entire analysis relates to the expansion strategy of ASOS to achieve its long term marketing objectives. From the core analysis, it is evaluated that the financial and strategic position of ASOS Inc is perfect, and the company is expecting to receive great news in their future. The company is going effectively with full fledge strategies by complying effectively with the CSR based theme and will create effectiveness in the expanded market accordingly. The company is ready to comply with its long term marketing objectives for the next 12 months with such strategies.

Analysis, S. (2013). ASOS: SWOT Analysis. [online] Asosblog.blogspot.com. Available at: http://asosblog.blogspot.com/2013/04/swot-analysis.html [Accessed 17 Dec. 2014]. Financials.morningstar.com, (2014). Growth, Profitability, and Financial Ratios for ASOS PLC ADR (ASOMY) from Morningstar.com. [online] Available at: http://financials.morningstar.com/ratios/r.html?t=ASOMY [Accessed 17 Dec. 2014]. Forsyth, P. (2010). How to motivate people. London: Kogan Page. Russell, E. (2010). The fundamentals of marketing. Lausanne: AVA Academia. Withey, F. and Lancaster, G. (2003). Marketing fundamentals, 2003-2004. Oxford: Butterworth-Heinemann.

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Marketing Fundamentals - Essay Example

Marketing Fundamentals

  • Subject: Marketing
  • Type: Essay
  • Level: Undergraduate
  • Pages: 22 (5500 words)
  • Downloads: 3
  • Author: slueilwitz

Extract of sample "Marketing Fundamentals"

Also, there is the awareness of global warming and thus the packaging and in the future, there would be laws for packaging the products and to depose them (Gelder).The economic conditions of a country influence the purchasing power of the customers. With the progressing economy, the purchasing power of customers enhances. Thus if McDonald's chooses to enter markets that have a good prospect of economic progress in the next five years, then the chances are that the demand will increase as the nation progresses and the customer base will increase (McDonald’s 2008).

If the economies go down in the next five years, the demand will decrease as the purchasing power of the customers will decrease (Keegan, 2004, pp. 130-164). Thus the prospective economic condition of a country or city may affect the demand for McDonald’s products in the future (Floris, 2008).With globalization taking place at a fast pace, the demand for McDonald’s products may change. There will be a greater demand for regional products and culturally modified products like veggie burgers, halal meat, Arabian tastes etc as there will be a visible change in the ration of foreigners and locals and nations would be more mixed culturally.

(McDonald’s 2008). Thus there would be a change in the tastes of customers everywhere. Also, as women and men both start working across the globe; there will be an increased trend to buy from fast-food chains. Also, there may be an increased trend especially amongst women for healthier meals which McDonald's may have to cater to (Novicevic et al, 2004, p. 65-96).Technological progress is fast integrating the industry and the customers are also becoming technologically advanced. In the future, there may be a decreased trend to come in the restaurants and customers would prefer ordering online or via phone. 

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The Fundamentals of Dictatorship: its Characteristics and Impacts

This essay about the fundamentals of dictatorship examines its characteristics, historical manifestations, and societal impacts. It highlights the centralized power, suppression of dissent, and absence of checks and balances typical in such regimes. By analyzing historical examples and exploring the economic, social, and international ramifications, the essay provides a comprehensive overview of how dictatorships operate and their long-term effects on societies.

How it works

The concept of dictatorship, characterized by absolute authority vested in a single individual or a ruling group, presents a profound subject for examination within political theory and modern history. Understanding the fundamentals of dictatorship involves exploring its defining characteristics, historical examples, and the impacts it has on societies.

A dictatorship is a form of government in which power is centralized around a single leader or a tightly knit elite that governs the state to the exclusion of all others. Unlike democracies, where power is dispersed and decision-making is subjected to public scrutiny and consent, dictatorships consolidate authority, often justifying their grip on power through narratives of necessity, such as crisis management, national security, or historical destiny.

One of the primary characteristics of a dictatorship is the absence of an effective system of checks and balances. In democratic systems, power is checked by other branches of government or by public elections. In contrast, dictators often manipulate or outright control legislative bodies, the judiciary, and election processes to maintain their rule. This unchecked power can lead to abuses and corruption, as there are few mechanisms to hold the dictator accountable.

Another hallmark of dictatorship is the suppression of political dissent and the limitation of freedoms. Freedom of speech, press, assembly, and religion are often restricted under dictatorial regimes, as these freedoms could lead to opposition and instability. The use of propaganda to shape public perception and control over information is prevalent, helping to sustain the regime’s narrative and diminish public trust in potential alternatives.

Historically, dictatorships have arisen in various contexts. Some have emerged through military coups, with the military justifying their takeover by the perceived ineptitude or corruption of civilian governments. Others have been the result of single-party rule, where a political party merges its function with the state apparatus, effectively outlawing opposition. Examples include the Fascist government under Mussolini in Italy, the Communist regime under Stalin in the Soviet Union, and more contemporary examples like North Korea under the Kim dynasty.

The impacts of dictatorships on societies are profound and multifaceted. Economically, some dictatorships have mobilized resources in a manner that initially leads to rapid modernization and industrialization. However, over time, the lack of transparency and accountability tends to stifle innovation and economic growth. The centralization of power often leads to significant economic disparities and poverty, as the elite consolidate wealth and the general populace remains marginalized.

Socially and culturally, dictatorships often seek to forge a uniform identity that supports their continuation. This can lead to the suppression of cultural expressions and a significant impact on the social fabric. Education systems may be tailored to reinforce the regime’s ideology and suppress critical thinking.

Internationally, dictatorships can lead to isolation, as democratic nations may impose sanctions and condemn human rights abuses. However, strategic geopolitical interests can sometimes lead to uneasy alliances between democratic states and dictatorial regimes.

In conclusion, dictatorships are characterized by centralized power, suppression of dissent, and control over many aspects of life. While they may provide short-term stability or developmental gains, the long-term impacts on political freedom, economic health, and social cohesion are detrimental. Understanding these dynamics is crucial for the global community in fostering greater resilience against such regimes and supporting the principles of democracy and human rights.

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    The marketing mix in Borden's concept originally included "product planning; pricing; branding; channels of distribution or place; personal selling; promotions; advertising; packaging; display; servicing; physical handling; and fact finding and analysis," (Zineldin and Philipson, 2007, p231). According to this concept, the list of twelve ...

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    There are 5 modules in this course. Taught by three of Wharton's top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers three core topics in customer loyalty: branding, customer centricity, and practical, go-to-market strategies. You'll learn key principles in - Branding ...

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    These four ingredients are usually referred to as the 4Ps and comprise- product, price, place (distribution) and promotion (Baker, 2007). Costantinides (2006) and Gronroos (1994) trace the origin of the marketing mix to the 1960s when Neil Borden identified twelve controllable marketing components that would yield profit if properly managed.

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    There are 5 modules in this course. This introductory course, aimed at first-semester MBA students, allows learners to gain a comprehensive understanding of the fundamentals of marketing through the lens of the 4Ps. We'll discuss what markets are, how to properly segment them, and how to create a value proposition and a positioning statement.

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    There are 5 modules in this course. Taught by three of Wharton's top faculty in the marketing department, consistently ranked as the #1 marketing department in the world, this course covers three core topics in customer loyalty: branding, customer centricity, and practical, go-to-market strategies. You'll learn key principles in - Branding ...

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    If you've heard of the classic principles of marketing, you may also know that they've been around for a while. A long while—more than 60 years! It started with the four principles of marketing, also called the 4 Ps or the 4 Ps marketing matrix. This framework was first published in 1960 (though its origins can be traced back to the 1940s ...

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    ASOS generated net revenue of £753.8m in the financial year 2013 with net income of £29m in the same year. There are around 4,000 employees are working with the company. As per the outline of this analysis, the company has to prolong the same for a certain time period accordingly (Financials.morningstar.com, 2014).

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    Fundamental marketing follows the main marketing principles. In today's economy, the consumer is the centre of the business world. Companies design, produce, advertise and provide products to satisfy their customers, so those that consider clients' needs and preferences typically have a better chance of meeting their marketing objectives.

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