Chapter 1

Marketing Fundamentals

The American Marketing Association (AMA) defines marketing as "the activity, set of institutions, and processes for creating, communicating,…

Before the 20th century, marketing, as seen today, was virtually nonexistent. Over time, it evolved from a production-centric to a customer-centric…

In the ever-changing marketing landscape, the evolution of marketing concepts has mirrored the shifting tides of consumer preferences, thereby…

Value creation involves providing customers with products or services that exceed their expectations, offering something worth more than its…

The marketing mix, or 4Ps, introduced by E. Jerome McCarthy in the 1960s, is a cornerstone of marketing strategy. It includes the following: Product…

Marketing is a pivotal, multifaceted function that acts as a strategic bridge between businesses and customers, extending beyond advertising and…

The marketing landscape is continually evolving, with the recent drivers of change being digital technology, AI, economic shifts, and a growing…

Nonprofit marketing refers to the strategies and activities undertaken by organizations that operate with the primary goal of fulfilling a mission or…

Marketing myopia is a concept that highlights the shortsightedness of businesses when they focus too narrowly on their products or services rather…

Marketing strategy is the cornerstone of business success. It defines the game plan for staying ahead of the competition and aligns with the…

A marketing plan is a structured roadmap outlining how a business intends to achieve its goals, serving as the playbook for all marketing…

A marketing plan document is a comprehensive written outline that details a company's marketing strategy and tactics for a specific period, often…