Transcript LESSON 1 Objectives

LESSON 1
Objectives
Know what marketing is as
both a function and a business
philosophy
Understand markets and
segments
Know what a product is, its life
cycle and how it is
differentiated
Understand the dynamics of
pricing and the concept of
elasticity.
Understand why distribution
channels exist and how they are
selected
Understand different tools in
the promotional mix and their
objectives
On average, about how much out of every dollar that
a consumer spends do you suppose goes to cover
marketing cost?
Business Trivia Question
A. About 2 cents
B. About 10 cents
C. About 25 cents
D. About 50 cents
E. About 75 cents