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Chapter 2 Marketing Basics
Marketing Is Dynamic
We live in a dynamic, fast-paced, ever-
changing world. Products are being bought
and sold around the world at a record pace.
For example, a business in Dubai may
be placing an order for lightbulbs from a
company in Michigan. That company in Mich-
igan may have had the lightbulbs produced in
Tennessee and will have them drop shipped
directly to Dubai. In the not-too-distant past,
the Dubai company would have been more
likely to buy the lightbulbs from a nearby
supplier than one halfway around the world.
With the advent of the Internet and other
technologies, companies can now shop for
best prices and companies around the world,
regardless of their locations.
Critical
Thinking
Key
Terms
Objectives
Web
Connect
Section 2.1 Importance of Marketing
After completing this section, you will be
able to
¶ explain why marketing is dynamic.
¶ state how marketing is focused.
¶ identify and describe the four Ps of
marketing.
¶ list the steps necessary for creating a
successful marketing mix.
dynamic
customer
target market
purchase incentive
four Ps of marketing
product
good
service
idea
price
place
promotion
public relations
marketing mix
Do an Internet search on how marketing
has changed since 2000. List three of the
major shifts that have happened since the
turn of this century. What was the largest
influencer that changed the direction of
marketing products?
Look for two of your favorite marketing mes-
sages in print. Bring them into class and
discuss why you like them.
Technology has made marketing easier and able to
fulfill needs faster than ever before.
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