Learning the Basics of Classification in the Introductory Marketing Class

Abstract

The paper presents a learning exercise on the basics of classification. Understanding of principles of classification will help students to enhance their learning abilities and to switch from a largely memorizing mode of studying to a more understanding mode. This is a very important educational goal in the light of rapidly growing number of terms and concepts introduced in marketing texts.Additionally, application of classification principles will result in better understanding of unique aspects of each class of instances (e.g., market segments) and will help students as future marketing managers to fine-tune marketing strategies and better utilize firms’ limited resources.