The Basics of Marketing – Topic 1

Principles of Marketing – Understanding Marketing for Students and Entrepreneurs

The first topic covers the basics of marketing so that students can have a firm basis of what to expect in the course as well as covering some of the main ideas, topics, and misconceptions that people have about marketing.

Study Guide for Exam 1

What is Marketing & the Core Aspects of Marketing?

Remember, marketing is about solving problems.

Determine Customers Needs & Wants & Satisfy Them

Needs vs wants vs demands… They are all different.

Marketing Misconceptions

Marketing is not as straightforward as you may think.

What is a Value Proposition and How do you create a Value Proposition

General Types of Marketing

You see marketing in lots of different ways every day.

The Reasons Why People Actually Buy a Product

The coolest stuff does not always win.

Where Sales Get it Wrong in Marketing

Something to think about when you go to the store.

The Marketing Mix Explained – The 4 Ps of Marketing

The 4 P’s of Marketing – Product, Place, Price, Promotion

The Marketing Mix in a Digital Focused World

Just an example from Iceland.

The 4 P’s – Product – Creates Value

Products can be products, services, ideas, and more.

The 4 P’s – Pricing – Captures Value

The price is so much more than just a number.

4 Ps of Marketing – Place – Delivers Value

4 Ps of Marketing – Promotion – Communicate Value

The Basics of Segmentation, Targeting, and Positioning

If you watch this video now, you may have deja vu when we get to topic 8.

Marketing Entails an Exchange

You should read through the slide on this one.

Product Offerings

You should read through the slides on this one.

Marketing Myopia

Value Based Marketing

Value is not just the cheapest option.

Why Marketing is Important

Marketing is pretty cool… just ask any marketing professor.

Ways to Create & Capture Value

Value is in the eye of the beholder.