Marketing For
Entrepreneurs
Study Guide
Classes to Watch
● Class #1
● Class #2
● Class #3
● Class #4
● Class #5
● Class #6
● Class #7
● Class #8
● Class #9
● Class #10
,Lesson #1:
Diving into the basics:
● Marketing is the social process by which individuals and groups obtain what they need
and want through creating and exchanging products and value with others
● The process by which companies create value for customers and build strong
customer relationships to capture value from customers in return
● Marketing vs. Sales
○ Selling concerns itself with the tricks and techniques of getting people to
exchange their cash for your product. It is not considered with the values that the
exchange is all about
■ Sales is one of the last components of the marketing cycle
○ Unlike marketing, it does not view the entire business process as consisting of a
tightly integrated effort to discover, create, arouse and satisfy customer needs
■
○ Sales: How to get people to pay more money
○ Marketing is how to add value to the product
● Marketing vs. Advertising
○ Advertising is a single component of the marketing process
○ Advertising: The paid public, non-personal announcement of a persuasive
message by an identified sponsor; the non-personal presentation or promotion
by a firm of its products to its existing and potential customers
■ Involves developing strategies to get your word out
■ Usually the most significant expense of most marketing plans
● Good marketing managers in organizations are involved every step of the way before the
product even exists
, ○
■ Ofir said that this is one of the most important slides of the class
● Marketing touches every development and every process in the organization
○ Marketing is involved with the product
■ How the product is going to look like
● I.e. color of every button
● Design of the packaging
● The way that the packaging is done, you “feel” a certain way
toward the platform
○ Marking is involved with the pricing department
○ Marketing should be involved in sales
■ How the salespeople behave
○ Customer support
■ Service that is aligned with the marketing message that you want to put
out there
○ Media Planning
■ Where the advertisements will be
○ PR, IR, CR
■ Public relations
■ Internal relations
● Good marketing managers should be involved in how the
management communicates the message
○ With the world, with the employees, potential employees,
attract new investors, keep existing ones
■ Community relations
● How the organization is working with/in the community
● Also known as CSR
○ Corporate Social Responsibility
● Common in the U.S.