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SALES101: Marketing Fundamentals

Unit 1: Marketing and Society  

Marketing is the process of creating products and services that meet the needs of customers who seek to buy those goods and services. We engage in the marketing process almost every day of our lives—usually as a customer. From buying a lunchtime meal to shopping for a birthday gift to paying a bill online, we are exposed to marketing campaigns run by both commercial entities and nonprofit organizations. By engaging in exchanges for goods and services, we participate in a transactional model that is the basis for most marketing campaigns. As such, marketing includes strategies that an organization enacts in order to best present (and sell) its products and/or services to potential customers. 

The marketing mix is built from four components, known as the four Ps of marketing: product, promotion, price, and placement. (Note that a product can also be a service, and placement may alternately be referred to as distribution.) 

In the first unit of this course, you will learn about the four Ps and other basics of contemporary marketing. You also will explore in detail how the first stage of the marketing process—planning—is critical to a successful marketing campaign.

Unit 1 Time Advisory
Completing this unit should take you approximately 12.5 hours.

☐     Subunit 1.1: 2.5 hours

☐     Subunit 1.2: 2.5 hours

☐     Subunit 1.3: 2 hours

☐     Subunit 1.4: 3.5 hours

☐     Subunit 1.5: 2 hours

Unit1 Learning Outcomes
Upon successful completion of this unit, you will be able to: 
- define marketing and explain its function in society;
  - explain the four components (or four Ps) of the marketing mix;
  - discuss the four Cs of marketing; and
  - describe the value of strategic planning to marketing success.

1.1 Marketing Basics   - Reading: Principles of Marketing: “Chapter 1: What Is Marketing?” Link: Principles of Marketing: “Chapter 1: What Is Marketing?” (PDF)

 Instructions: Read this chapter, which defines the four components
(or *the four Ps*) of marketing, provides examples of marketing
activities, and emphasizes the importance of marketing in today’s
society. As you read, note that all organizations and companies
engage in some form of marketing. In this chapter, you will explore
how marketers have learned to focus on the role of the customer and
the value that customers place on products and services (or
offerings). This chapter also outlines the basics of a marketing
plan and introduces you to future chapters of this textbook as they
relate to the marketing plan structure overall. To reinforce your
learning of these concepts, be sure to take notes as you read and
respond to the discussion questions (but not the activities)
provided at the end of this chapter.  

 Reading this chapter, taking notes, and responding to the
discussion questions should take approximately 2 hours.  
    
 Terms of Use: This text was adapted by The Saylor Foundation under
a [Creative Commons Attribution-NonCommercial-Share-Alike 3.0
License](http://creativecommons.org/licenses/by-nc-sa/3.0/) without
attribution, as requested by the work’s original creator or
licensee.
  • Web Media: YouTube: Dr. Steven Van Hook’s “Marketing Fundamentals” Link: YouTube: Dr. Steven Van Hook’s “Marketing Fundamentals” (YouTube)

    Instructions: Watch this video, in which Dr. Van Hook uses engaging examples to explain the basic elements of the marketing mix. Since there would be no sales of products or services without customers, Dr. Van Hook discusses the importance of understanding the mindset of the people who might buy an organization’s offerings. Dr. Van Hook also introduces another four-part marketing model: the four Cs of marketing, a concept that considers marketing transactions from the customer’s point of view. The four Cs focus on the value of the customer and the value that the customer places on a transaction. The concepts discussed in this video will inform your understanding of the ideas that are presented in the next unit of this course. Be sure to take notes as you watch this video.

    Watching this video and taking notes should take approximately 30 minutes. 

    Terms of Use: Please respect the copyright and terms of use displayed on the webpage above.

1.2 Strategic Planning   - Reading: Principles of Marketing: “Chapter 2: Strategic Planning” Link: Principles of Marketing: “Chapter 2: Strategic Planning” (PDF)

 Instructions: Read this chapter, which describes the strategic
planning process of marketing. Planning is a critical component of
building a marketing campaign. During the strategic planning phase,
a company considers how the four Ps of marketing will work together
to sell particular products and/or services. After reading this
chapter and taking notes, be sure to respond to the discussion
questions (but not the activities) provided at the end of this
chapter.  

 Reading this chapter, taking notes, and responding to the
discussion questions should take approximately 2 hours and 30
minutes.  

 Terms of Use: This text was adapted by The Saylor Foundation under
a [Creative Commons Attribution-NonCommercial-Share-Alike 3.0
License](http://creativecommons.org/licenses/by-nc-sa/3.0/) without
attribution, as requested by the work’s original creator or
licensee.

1.3 Understanding Marketing Planning   - Reading: Principles of Marketing: “Chapter 16: The Marketing Plan” Link: Principles of Marketing:  “Chapter 16: The Marketing Plan” (PDF)
 
Instructions: Read this chapter, which provides you with an in-depth look at the planning that is necessary to launch a successful marketing campaign from start to finish. Be sure to take notes as you read and respond to the discussion questions (but not the activities) provided at the end of this chapter.

 Reading this chapter, taking notes, and responding to the
discussion questions should take approximately 2 hours.  

 Terms of Use: This text was adapted by The Saylor Foundation under
a [Creative](http://creativecommons.org/licenses/by-nc-sa/3.0/)[Commons
Attribution-NonCommercial-Share-Alike 3.0
License](http://creativecommons.org/licenses/by-nc-sa/3.0/) without
attribution, as requested by the work’s original creator or
licensee.

1.4 Marketing Ethics   - Reading: The Saylor Foundation: Dr. Steven Van Hook’s “Business and Marketing Ethics” Link: The Saylor Foundation: Dr. Steven Van Hook’s “Business and Marketing Ethics” (PDF)
 
Instructions: Read this article on business and marketing ethics in the global marketplace. Be sure to pay a visit to the Center for the Study of Ethics in the Professions webpage, linked within the reading, and participate in the Saylor discussion forum on ethical issues in business.
 
Reading this article, visiting the ethics link, and participating in the discussion forum should take approximately 3 hours and 30 minutes.

1.5 Marketing Discussion Forum Activity   - Activity: Unit 1 Discussion Forum Link: Unit 1 Discussion Forum (HTML)
 
Instructions: Click on the link above to access the online discussion forum for this course. Then, click on the discussion thread link for Unit 1 and post your responses to the questions provided. Feel free to start your own discussion thread, and/or respond to any threads started by other students.
 
Spend approximately 2 hours posting and participating in the discussion forum.