Basics of Marketing
by Sophia Tutorial
ú WHAT'S COVERED
Now, we've all heard the term "marketing." What is it, exactly? Is it advertising? Is it selling? How does
it relate to us in the world of business and the world at large? This tutorial will answer those questions
and cover the basics of marketing. Our discussion breaks down as follows:
1. What Is Marketing?
2. Consumer Values and Benefits of Marketing
3. Types of Utility
4. Marketing vs. Advertising and Public Relations
1. What Is Marketing?
Marketing is defined as the process of developing a reciprocal exchange, including the development of
information and promotional materials that stimulate demand.
Marketing has an association attached to it called the AMA, or the American Marketing Association. In their
view, marketing encompasses a lot of processes and activities that are involved in delivering and exchanging
offerings that have value--to you, to me, and to society at large.
IN CONTEXT
You can get an idea of how important marketing is by how much companies spend on it. For
instance, between 2009 and 2013, Apple Corporation went from spending $500 million on
marketing to over a billion, in order to stimulate the demand of their products.
In that same time period, Samsung went from spending $2 billion a year in 2009 to over $4.5 billion.
As you can see from the amount of money that companies invest in marketing, it's clearly important
to them.
Now, marketing can be a product, a service, or an idea. Marketing is involved with profit businesses and non-
profit organizations alike.
ô EXAMPLE For example, marketing can involve a product, like Coca-Cola, or a service like tax help
from H&R Block, which is designed to help save you money or deal with an audit. Marketing also involves
© 2021 SOPHIA Learning, LLC. SOPHIA is a registered trademark of SOPHIA Learning, LLC. Page
by Sophia Tutorial
ú WHAT'S COVERED
Now, we've all heard the term "marketing." What is it, exactly? Is it advertising? Is it selling? How does
it relate to us in the world of business and the world at large? This tutorial will answer those questions
and cover the basics of marketing. Our discussion breaks down as follows:
1. What Is Marketing?
2. Consumer Values and Benefits of Marketing
3. Types of Utility
4. Marketing vs. Advertising and Public Relations
1. What Is Marketing?
Marketing is defined as the process of developing a reciprocal exchange, including the development of
information and promotional materials that stimulate demand.
Marketing has an association attached to it called the AMA, or the American Marketing Association. In their
view, marketing encompasses a lot of processes and activities that are involved in delivering and exchanging
offerings that have value--to you, to me, and to society at large.
IN CONTEXT
You can get an idea of how important marketing is by how much companies spend on it. For
instance, between 2009 and 2013, Apple Corporation went from spending $500 million on
marketing to over a billion, in order to stimulate the demand of their products.
In that same time period, Samsung went from spending $2 billion a year in 2009 to over $4.5 billion.
As you can see from the amount of money that companies invest in marketing, it's clearly important
to them.
Now, marketing can be a product, a service, or an idea. Marketing is involved with profit businesses and non-
profit organizations alike.
ô EXAMPLE For example, marketing can involve a product, like Coca-Cola, or a service like tax help
from H&R Block, which is designed to help save you money or deal with an audit. Marketing also involves
© 2021 SOPHIA Learning, LLC. SOPHIA is a registered trademark of SOPHIA Learning, LLC. Page
