Chapter 1 – Basics of Marketing
Introduction
In this chapter, you will learn about the four components of marketing, the 4 P’s of marketing, what it means to create value in marketing and how to distinguish between market-oriented, product-oriented, and selling-oriented companies.
Readings
1.1 Defining Marketing from Principles of Marketing – H5P Edition (2022).- 1.1 Marketing and the Marketing Process from Principles of Marketing (Albrecht et al., 2023).
- 1.2 The Marketing Mix and the 4Ps from Principles of Marketing (Albrecht et al., 2023).
Additional Readings
Also consider reviewing the first part of this book chapter before you attempt the activities below. Later parts of the same book can add to your readings in subsequent chapters below:
- Chapter 14 Marketing: Providing Value to Customers from Fundamentals of Business (Skripak & Poff, 2020).
Practice Activities
Defining Value
Media Attributions
- H5P Image 1: Modified Gray and blue Open signage (https://unsplash.com/photos/gray-and-blue-open-signage-c9FQyqIECds) by Mike Petrucci [mikepetrucci], via Unsplash, is used under the Unsplash (https://unsplash.com/license) license.
- H5P Image 2: Modified Pile of grocery items (https://unsplash.com/photos/pile-of-grocery-items-ezeC8-clZSs) by Fikri Rasyid [fikrirasyid], via Unsplash, is used under the Unsplash (https://unsplash.com/license) license.
References
Albrecht, M. G., Green, M., & Hoffman, L. (2023). Principles of marketing. OpenStax. https://openstax.org/books/principles-marketing/pages/1-unit-introduction.
Petrucci, M. (2016). Gray and blue open signage [Image]. Unsplash. https://unsplash.com/photos/gray-and-blue-open-signage-c9FQyqIECds.
Principles of marketing – H5P edition. (2022). BCcampus. https://opentextbc.ca/principlesofmarketingh5p/.
Rasyid, F. (2018). Pile of grocery items [Image]. Unsplash. https://unsplash.com/photos/pile-of-grocery-items-ezeC8-clZSs.
Skripak, S. J., & Poff, R. (2020). Fundamentals of business (3rd ed.). Pamplin College of Business, Virginia Tech Publishing. https://pressbooks.lib.vt.edu/fundamentalsofbusiness3e/.
