Principles of Marketing is a comprehensive open textbook that provides a solid foundation in marketing concepts, theories, and applications. Designed for undergraduate business majors and minors, this textbook covers a wide range of topics, from strategic planning and consumer behavior to the marketing mix and emerging trends in sustainable marketing.
Recommended for: Undergraduate students enrolled in an introductory principles of marketing course, as well as instructors seeking a flexible, up-to-date, and openly licensed marketing textbook for their classes.
You will:
- Gain a thorough understanding of core marketing principles and frameworks
- Explore real-world marketing examples and case studies from various industries
- Learn about consumer and business-to-business buyer behavior
- Understand market segmentation, targeting, and positioning strategies
- Delve into the role of marketing research and global marketing considerations
- Discover the elements of the marketing mix (product, price, promotion, and place)
- Explore emerging trends in sustainable and digital marketing
- Assess your learning progress through knowledge checks and chapter-end exercises
Detailed Overview
Principles of Marketing is a comprehensive open educational resource that covers the fundamental concepts and practices of marketing. Designed to meet the scope and sequence of a one-semester marketing course for undergraduate business majors and minors, this textbook provides a solid grounding in marketing theory and analysis.
The textbook is organized into three main units:
Unit 1: Setting the Stage
- Chapter 1: Marketing and Customer Value
- Chapter 2: Strategic Planning in Marketing
This unit introduces the role of marketing in creating customer value and explores the strategic planning process in marketing, including the use of frameworks like SWOT analysis and the Boston Consulting Group matrix.
Unit 2: Understanding the Marketplace
- Chapter 3: Consumer Markets and Purchasing Behavior
- Chapter 4: Business Markets and Purchasing Behavior
- Chapter 5: Market Segmentation, Targeting, and Positioning
- Chapter 6: Marketing Research and Market Intelligence
- Chapter 7: Marketing in a Global Environment
- Chapter 8: Marketing in a Diverse Marketplace
This unit delves into understanding the consumer and business-to-business markets, as well as the processes of market segmentation, targeting, and positioning. It also covers the role of marketing research, the challenges and opportunities of global marketing, and the importance of diversity and inclusion in marketing.
Unit 3: Product, Promotion, Price, and Place
- Chapter 9: Products: Consumer Offerings
- Chapter 10: Maintaining a Competitive Edge with New Offerings
- Chapter 11: Services: The Intangible Product
- Chapter 12: Pricing Products and Services
- Chapter 13: Integrated Marketing Communications
- Chapter 14: The Promotion Mix: Advertising and Public Relations
- Chapter 15: The Promotion Mix: Personal Selling and Sales Promotion
- Chapter 16: Direct, Online, Social Media, and Mobile Marketing
- Chapter 17: Distribution: Delivering Customer Value
- Chapter 18: Retailing and Wholesaling
- Chapter 19: Sustainable Marketing: The New Paradigm
This unit explores the key elements of the marketing mix (product, price, promotion, and place), including product development, pricing strategies, integrated marketing communications, and distribution channels. It also examines the growing importance of sustainable marketing practices.
Throughout the textbook, students will find a variety of learning resources, such as detailed company and organization scenarios, real-world examples, knowledge checks, and links to external videos and resources. The textbook’s modular structure allows instructors to customize the coverage and sequence of topics to align with their course objectives.
Overall, Principles of Marketing is a comprehensive and up-to-date open educational resource that provides a solid foundation in marketing concepts and prepares students for more advanced marketing courses and real-world marketing challenges.
Licensing
Principles of Marketing is licensed under a Creative Commons Attribution (CC BY 4.0) license. This allows users to freely share, copy, and redistribute the material in any medium or format, as well as adapt, remix, transform, and build upon the content for any purpose, including commercially, as long as they provide attribution to the authors.
To cite this work
Gomez Albrecht, Maria, Mark Green, and Linda Hoffman. Principles of Marketing. 2022. OpenStax, https://open.umn.edu/opentextbooks/textbooks/principles-of-marketing-2022.
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