Introduction to Marketing: When Am I Ever Going to Use This? (01:48)
This opening segment introduces the concept of marketing and orients viewers to the topics that will be covered in this video.
What is Marketing? (02:43)
Successful marketing allows a wide range of potential customers to learn about the product or service offered. Word of mouth was the original method of marketing, followed by advertising via mail.
Importance of Marketing Concepts and Skills (02:09)
Four steps essential to marketing include: setting objectives, selecting a target audience, creating an action plan, and executing.
Target Markets (01:54)
Marketing is vital to the health of a businesses and national economies. A business should aim its marketing strategies for a specific product or service towards its ideal customer.
Consumer Needs and Wants (01:56)
Understanding the distinction between a want and a need is vital in marketing. This concept is illustrated with the general need for transportation and the consumer's desire for a nice car.
Five Ps of Marketing: Product (03:19)
Successful companies such as Vans and National Premier Leagues employ unique marketing techniques to increase visibility directly to target markets. An employee from NPL details her job in the company's marketing department.
Five Ps of Marketing: Price (01:29)
Market research is used to determine what customers will pay for products and services. The importance of price-setting is illustrated with an example of customers assuming extremely low prices are scams.
Five Ps of Marketing: Place (01:25)
A distribution channel is the path that a product takes from invention to customer. Businesses must ensure that the product is profitable despite transportation costs.
Five Ps of Marketing: Promotion (01:26)
Marketing staff assess how, when, and where a product or service will be used and communicates that information to prospective buyers.
Five Ps of Marketing: People (01:12)
The most vital component of marketing is the people involved in the process, including directors, managers, and public relations staff.
Marketing Slogan Trivia (01:46)
Viewers are asked to guess the businesses responsible for well-known slogans.
Listen to a review of the marketing concepts discussed in this video.
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