what is the concepts learned from this write up$/$ In this introductory session, the speaker welcomes students to Chapter One, where they delve into the fundamentals of marketing. They emphasize the importance of understanding marketing's significance, its scope, core concepts, and how it adapts to new realities. They stress that marketing is crucial for businesses to succeed financially, as it generates demand and builds strong brands and customer loyalty. They define marketing as the process of identifying and meeting human and social needs, and also reference the American Marketing Association's definition, highlighting its role in creating, communicating, delivering, and exchanging value for customers, clients, partners, and society. Additionally, they discuss marketing management, which involves selecting target markets and creating, delivering, and communicating superior customer value to acquire, retain, and expand customer relationships. They conclude by noting that marketing encompasses a wide range of entities, including goods, services, events, experiences, people, places, properties, organizations, information, and ideas, and anyone can be a marketer seeking a response from prospects.

The speaker emphasizes the importance of effective marketing in turning prospects into customers and eventually into loyal repeat customers. They highlight four key markets in business: consumer markets, business markets, global markets, and non$-$profit and governmental markets. Consumer markets involve selling mass consumer goods directly to individuals, such as juices, cosmetics$,$ and air travel. Business markets focus on companies selling goods and services to other businesses, which often requires dealing with well$-$informed professional buyers. Global markets entail conducting business overseas and navigating various cultural, linguistic, political, and economic factors. Non$-$profit and governmental markets involve selling to organizations with limited purchasing power, such as churches, universities, and government agencies, often using pricing strategies like bidding. The speaker stresses the need for tailored marketing approaches for each of these markets.

The speaker discusses key considerations when marketing globally, such as adapting language and cultural elements. They emphasize the importance of understanding customer needs, wants, and demands, distinguishing between basic needs and societal$-$influenced wants. The concepts of target markets, positioning, and segmentation $($STP$)$ are introduced, explaining how marketers identify specific customer groups and shape perceptions of brands. The importance of value propositions, which highlight the unique benefits offered to customers, and the significance of brands, which represent offerings from known sources and carry associations in consumers' minds, are also discussed. The aim is to build strong, favorable, and unique brand associations, illustrating with examples like Nike and Apple.

The speaker discusses the importance of positioning a brand in consumers' minds and reaching target markets through various marketing channels. They outline three types of marketing channels: communication, distribution, and service, each serving different functions in delivering messages, physical products, and transactional services to customers. Additionally, they introduce three types of media: paid media, which involves paying for marketing platforms like TV commercials or magazine ads; own media, which includes company$-$owned platforms such as websites and social media pages; and earned media, which is gained through publicity rather than paid promotion. These concepts are essential for marketers to understand and utilize effectively in their marketing strategies.

The speaker discusses the concept of earned media, where exposure, word$-$of$-$mouth feedback, likes on social media, and free publicity contribute to the buzz and reputation of a product or service. They explain the distinction between impressions, when customers view a communication, and engagement, when they take action. Emphasis is placed on delivering value and satisfaction to customers, as well as understanding the supply chain and competition. Marketers are advised to stay attentive to industry trends and adjust strategies accordingly to capitalize on emerging opportunities.

The speaker discusses new marketing realities, focusing on the impact of technology, globalization, and social and environmental consciousness. They highlight how technology has changed product manufacturing, sales processes, and communication with distributors. Moreover, they emphasize the importance of social and environmental responsibility in product development and marketing strategies. The role of social media in providing immediate customer feedback and its influence on marketing and customer service is also discussed. Additionally, the speaker underscores the significance of the internet as a powerful tool for communicat