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Ebook Business essentials: Part 2

Part 2 book “Business essentials” has contents: Principles of marketing - building relationships with customers for competitive advantag, managing information for better business decisions, the financial system and issues in financial management. | Amy Sussman/Invision/AP Images chapter 11 marketing Processes and Consumer Behavior ParT 4 PrinCiPlES oF marKETinG: BUildinG rElaTionShiPS WiTh CUSTomErS For ComPETiTiVE adVanTaGE as consumers, we are the forces that drive marketing. But those same marketing campaigns push us in directions without us even knowing it. 371 learning objectives 372 after reading this chapter, you should be able to: 11-1 Explain the concept of marketing and identify the five forces that constitute the external marketing environment. 11-2 Explain the purpose of a marketing plan and identify its main components. 11-3 Explain market segmentation and how it is used in target marketing. 11-4 Discuss the purpose of marketing research and compare the four marketing research methods. 11-5 Describe the consumer buying process and the key factors that influence that process. 11-6 Discuss the four categories of organizational markets and the characteristics of business-to-business (B2B) buying behavior. 11-7 Discuss the marketing mix as it applies to small business. Building a Brand With Social media Perhaps you are one of the more than 7 million people who subscribe to Michelle Phan’s YouTube Channel. Or maybe you know someone who has purchased products from her L’Oreal product line. Even if you’ve never heard the name Michelle Phan, you’ll find that she has an interesting story that highlights the importance of believing in yourself, identifying a target market, and building a brand. While taking a college class, Phan was given the opportunity to use a MacBook Pro. Excited about the new technology, Phan started a blog about her life. Well, not exactly. The blog depicted the life that she dreamed of, one with money and a fantastic family, a life that was much more exciting and glamorous than her real-life experience. Phan’s childhood was difficult. She grew up in Florida in a community with few Asian children, she was subject to ridicule, and she felt out of place