After reading this chapter, you should be able to:

1. Explain the concept of marketing and describe the five forces that constitute the external marketing environment.
2. Explain the purpose of a marketing plan and identify the four components of the marketing mix.
3. Explain market segmentation and show how it is used in target marketing.
4. Explain the purpose and value of marketing research.
5. Describe the key factors that influence the consumer buying process.
6. Discuss the three categories of organizational markets and explain how organizational buying behaviour differs from consumer buying behaviour.
7. Describe the international and small business marketing mixes.