Introduction
Welcome to the exciting and dynamic
world of marketing. This textbook will
help you explore that world. The book is
organized into nine parts. Each part opens
with a thought-provoking question. The
chapters in the part are designed to answer
that question. Throughout each chapter are
questions called “Reality Checks.” These
questions are designed to help you apply
the concepts you just learned to the world
around you.
What Is Marketing?
Part 1 sets the stage by presenting some
of the basic concepts in marketing. How does
a market economy work? Part 2 will give you
a good foundation in economics. Marketing
is an essential part of the free market
economy in the United States. Understanding
economic basics will help you in any career
you pursue.
Who Are Your Customers?
The customer and the marketplace are
at the center of marketing activities. Part 3
will help you understand customers. You
will also learn how marketers think about
a market. Competition is another part of a
dynamic marketplace. You will learn about
the role of competition and how marketers
respond to competitors.
The Four Ps
In Parts 4, 5, 6, and 7, you will learn
about the Four Ps of marketing: product,
place, price, and promotion. What should
you sell? Part 4 examines the product P.
You will learn what a product actually is,
the ways to develop new products, and the
product life cycle.
How do products get to consumers?
Part 5 introduces you to the place P, which
involves the ways products are delivered
to customers (distribution). Concepts of
wholesaling and retailing are also discussed.
What price should you charge? Part 6
explains some of the basics of profit, loss,
and business risk because you need to
understand these concepts before you tackle
the price P. Two chapters then focus on price
and how prices are set.
How do you communicate with
customers? Part 7 describes the promotion
P. Promotion is communication with
customers, employees, and the public. There
are four elements of promotion: advertising,
sales promotion, public relations, and
personal selling. How can you sell products
effectively? Part 8 focuses on sales.
How Can You Plan for Success?
How can you plan for success? Part 9
presents ways to assure your future success.
If being your own boss interests you,
Chapter 52 introduces you to the world of
entrepreneurship and running your own
business.
At the end of each chapter are activities
that will help you explore a variety
of marketing careers. Several profiles
throughout the text will show you how
people use marketing concepts in their
careers.
As you can see, the study of marketing
will introduce you to many new and exciting
concepts and career ideas. This textbook will
provide you with information you can use
no matter what career you choose. It will also
provide the foundation for a career or future
study in marketing.