Contents

Preface 16

Marketing: Creating and Capturing Customer Value 26 What Is Marketing? 28

: Marketing Defined 29 | The Marketing Process 29

Understanding the Marketplace and Customer Needs 30

Customer Needs, Wants, and Demands 30 | Market Offerings— Products, Services, and Experiences 30 | Customer Value and Satisfaction 31 | Exchanges and Relationships 31 | Markets 31

Designing a Customer-Driven Marketing Strategy 32

Selecting Customers to Serve 32 | Choosing a Value Proposition 33 ] Marketing Management Orientations 33

Preparing an Integrated Marketing Plan and Program 36

Building Customer Relationships 36

Customer Relationship Management 37 | The Changing Nature of Customer Relationships 40 | Partner Relationship Management 43

Capturing Value from Customers 45

Creating Customer Loyalty and Retention 45 i Growing Share of Customer 46 | Building Customer Equity 47

The Changing Marketing Landscape 49

The Digital Age 49 j Rapid Globalization 50 | The Call for More Ethics and Social Responsibility 51 | The Growth of Not-for-Profit Marketing 52

So, What is Marketing? Pulling It All Together 53

Reviewing Objectives and Key Terms 54 | Key Terms 56 \ Discussing & Applying the Concepts 56 | Focus on Technology 56 | Focus on Ethics 57 | Marketing by the Numbers 57 Video Case: Harley-Davidson 57 Company Case: Build-A-Bear: Build-A-Memory 58

Marketing Strategy and the Marketing Mix 72

Customer-Driven Marketing Strategy 72 | Developing an Integrated Marketing Mix 76

Managing the Marketing Effort 77

Marketing Analysis 77 | Marketing Planning 78 ¡ Marketing Implementation 79 | Marketing Department Organization 80 | Marketing Control 81

Measuring and Managing Return on Marketing Investment 81

Reviewing Objectives and Key Terms 83 | Key Terms 84 ¡ Discussing & Applying the Concepts 84 [ Focus on Technology 85 | Focus on Ethics 85 | Marketing by the Numbers 85 Video Case: Live Nation 86

Company Case: Bahrain Bay: Building Customer Relations for the Future 86

Chapter 3

Analyzing the Marketing Environment 88 The Company's Microenvironment 90

The Company 91 | Suppliers 91 [ Marketing Intermediaries 91 | Competitors 92 | Publics 93 Customers 93

The Company's Macroenvironment 94

Demographic Environment 94 I Economic Environment 103 | Natural Environment 105 | Technological Environment 106 j Political and Social Environment 108 | Cultural Environment 111

Responding to the Marketing Environment 115

Reviewing Objectives and Key Terms 117 | Key Terms 118 | Discussing & Applying the Concepts 118 [ Focus on Technology 119 | Focus on Ethics 119 | Marketing by the Numbers 119 Video Case: TOMS Shoes 119

Company Case: Prius: Leading a Wave of Hybrids 120

Chapter 2

Company and Marketing Strategy: Partnering to Build Customer Relationships 60

Companywide Strategic Planning: Defining Marketing's Role 62

Defining a Market-Oriented Mission 63 | Setting Company Objectives and Goals 64 | Designing the Business Portfolio 65

Planning Marketing: Partnering to Build Customer Relationships 70

Partnering with Other Company Departments 70 | Partnering with Others in the Marketing System 71

Chapter 4

Managing Marketing Information to Gain Customer Insights 122

Marketing Information and Customer^è^ts 123 Assessing Marketing Information N$eds 126 CG Developing Marketing Informati«^ 12

Internal Data 126 ] Marketing IntelligÉâice

Marketing Research 129

Defining the Problem and Research Objective! the Research Plan 130 | Gathering Se¿§£idary Primary Data Collection 133 [ Implem^ting the Resea|§i Interpreting and Reportinr ^

O rr c tevdoping

'131

Plan 143

Analyzing and Using Marketing Information 144

Customer Relationship Management (CRM) 144 | Distributing and Using Marketing Information 146

Other Marketing Information Considerations 146

Marketing Research in Small Businesses and Nonprofit Organizations 146 | International Marketing Research 148 j Public Policy and Ethics in Marketing Research 149 | Reviewing Objectives and Key Terms 153 | Key Terms 154 | Discussing & Applying the Concepts 154 | Focus on Technology 154 | Focus on Ethics 155 | Marketing by the Numbers 155 Video Case: ZIBA 155

Company Case: Enterprise Rent-A-Car: Measuring Service Quality 156

Chapter 5

Consumer Markets and Consumer Buyer Behavior 15®

Model of Consumer Behavior 160 Characteristics Affecting Consumer Behavior 161

Cultural Factors 161 | Social Factors 164 | Personal Factors 170 | Psychological Factors 172

Types of Buying Decision Behavior 176

Complex Buying Behavior 176 ) Dissonance-Reducing Buying Behavior 176 j Habitual Buying Behavior 176 | Variety-Seeking Buying Behavior 177

The Buyer Decision Process 177

Need Recognition 178 | Information Search 178 j Evaluation of Alternatives 178 j Purchase Decision 179 | Postpurchase Behavior 179

The Buyer Decision Process for New Products 181

Stages in the Adoption Process 182 | Individual Differences in Innovativeness 182 j Influence of Product Characteristics on Rate of Adoption 183 j Reviewing Objectives and Key Terms 183 | Key Terms 184 | Discussing & Applying the Concepts 185 | Focus on Technology 185 | Focus on Ethics 186 I Marketing by the Numbers 186 Video Case: Wild Planet 186

Company Case: Arabic Blackberry: Adapting to the Language of the Market 187

Chapter 6

Business Markets and Business Buyer Behavior 190 Business Markets 192

Market Structure and Demand 193 | Nature of the Buying Unit 1.94 | Types of Decisions and the Decision Process 194 Business Buyer Behavior 196

Major Types of Buying Situations 197 | Participants in the Business Buying Process 198 | Major Influences on Business Buyers 199 ' j The Business Buying Process 200 | E-Procurement: Buying on the Internet 204

Institutional and Government Markets 205

Institutional Markets 205 | Government Markets 206 | Reviewing Objectives and Key Terms 208 | Key Terms 209 | Discussing & Applying the Concepts 209 | Focus on Technology 210 | Focus on Ethics 210 | Marketing by the Numbers 210 Video Case: Eaton 211

Company Case: Boeing: Selling a Dream(liner) 211

Chapter 7

Customer-Driven Marketing Strategy: Creating Value for Target Customers 214 Market Segmentation 216

Segmenting Consumer Markets 216 ! Segmenting Business Markets 222 | Segmenting International Markets 223 | Requirements for Effective Segmentation 224

Market Targeting 225

Evaluating Market Segments 225 j Selecting Target Market Segments 225 ; Socially Responsible Target Marketing 232

Differentiation and Positioning 233

Positioning Maps 233 [ Choosing a Differentiation and Positioning Strategy 234 | Communicating and Delivering the Chosen Position 241 | Reviewing Objectives and Key Terms 241 | Key Terms 242 | Discussing & Applying the Concepts 242 | Focus on Technology 243 | Focus on Ethics 243 | Marketing by the Numbers 243 | Video Case: Meredith 244

Company Case: Sport England: Segmenting the British Sports Market 244

Chapter 8

Products, Services, and Brands: Building Customer Value 246 What Is a Product? 248

Products, Services, and Experiences 248 | Levels of Product and Services 249 | Product and Service Classifications 250

Product and Service Decisions 253

Individual Product and Service Decisions 253 J Product Line Decisions 258 | Product Mix Decisions 258

Branding Strategy: Building Strong Brands 259

Brand Equity 260 | Building Strong Brands 262 | Managing Brands 268

Services Marketing 268

Nature and Characteristics of a Service 268 | Marketing Strategies for Service Firms 270 | Reviewing Objectives and Key Terms 275 | Key Terms 276 | Discussing & Applying the Concepts 276 | Focus on Technology 277 | Focus on Ethics 277 | Marketing by the Numbers 277 Video Case: Swiss Army Brands 278 Company Case: Britvic: Creating a Brand Flavor 278

Chapter 9

New-Product Development and Product Life-Cycle Strategies 280

New-Product Development Strategy 282 The New-Product Development Process 283

Idea Generation 283 [ Idea Screening 286 | Concept Development and Testing 286 j Marketing Strategy Development 287 | Business Analysis 288 1 Product Development 288 j Test Marketing 289 | Commercialization 292

Managing New-Product Development 292

Customer-Centered New-Product Development 293 | Team-Based New-Product Development 293 j Systematic New-Product Development 295

Product Life-Cycle Strategies 296

Introduction Stage 300 | Growth Stage 300 | Maturity Stage 301 | Decline Stage 302

Additional Product and Service Considerations 304

Product Decisions and Social Responsibility 304 | International Product and Services Marketing 304 | Reviewing Objectives and Key Terms 306 | Key Terms 307 | Discussing & Applying the Concepts 307 | Focus on Technology 308 | Focus on Ethics 308 | Marketing by the Numbers 308 Video Case: Electrolux 309

Company Case: Nintendo: Reviving a Company, Transforming a Market 309

Chapter 10

Pricing: Understanding and Capturing Customer Value What Is a Price? 314

Factors to Consider When Setting Prices 315

Customer Perceptions of Value 315 | Company and Product Costs 319 I Other Internal and External Considerations Affecting Price Decisions 323 j Reviewing Objectives and Key Terms 330 | Key Terms 331 | Discussing & Applying the Concepts 331 | Focus on Technology 331 | Focus on Ethics 331 I Marketing by the Numbers 332 Video Case: IKEA 332

Company Case: easyjet: Staying Ahead in the Pricing Game 332

Chapter 12

Marketing Channels: Delivering Customer Value 360

Supply Chains and the Value Delivery Network 361 The Nature and Importance of Marketing Channels 363

How Channel Members Add Value 363 | Number of Channel Levels 365

Channel Behavior and Organization 366

Channel Behavior 366 | Vertical Marketing Systems 367 | Horizontal Marketing Systems 369 j Multichannel Distribution Systems 370 i Changing Channel Organization 371

Channel Design Decisions 372

Analyzing Consumer Needs 373 | Setting Channel Objectives 374 I Identifying Major Alternatives 374 | Evaluating the Major Alternatives 375 | Designing International Distribution Channels 376

Channel Management Decisions 376

Selecting Channel Members 376 | Managing and Motivating Channel Members 377 | Evaluating Channel Members 378

Public Policy and Distribution Decisions 379 Marketing Logistics and Supply Chain Management 380

Nature and Importance of Marketing Logistics 380 | Goals of the Logistics System. 381 j Major Logistics Functions 382 | Integrated Logistics Management 385 j Reviewing Objectives and Key Terms 387 | Key Terms 388 | Discussing & Applying the Concepts 388 ¡ Focus on Technology 389 | Focus on Ethics 389 | Marketing by the Numbers 389 Video Case: Progressive 390

Company Case: Zara: The Technology Giant of the Fashion World 390

Chapter 11

Pricing Strategies New-Product Pricing Strategies 336

Market-Skimming Pricing 336 | Market-Penetration Pricing 337

Product Mix Pricing Strategies 337

Product Line Pricing 337 | Optional-Product Pricing 338 | Captive-Product Pricing 338 | By-Product Pricing 339 j Product Bundle Pricing 339

Price-Adjustment Strategies 339

Discount and Allowance Pricing 339 | Segmented Pricing 340 [ Psychological Pricing 341 j Promotional Pricing 344 | Geographical Pricing 344 | Dynamic Pricing 346 | International Pricing 347

Price Changes 324

Initiating Price Changes 348 j Responding to Price Changes 350

Public Policy and Pricing 351

Pricing Within Channel Levels 352 | Pricing Across Channel Levels 354 | Reviewing Objectives and Key Terms 355 | Key Terms 355 \ Discussing & Applying the Concepts 356 | Focus on Technology 356 | Focus on Ethics 356 | Marketing by the Numbers 357 Video Case: General Electric 357 Company Case: Payless ShoeSource: Paying Less for Fashion 357

Chapter 13

Retailing and Wholesaling Retailing 394

Types of Retailers 394 ; Retailer Marketing Decisions 402 [ The Future of Retailing 408

Wholesaling 413

Types of Wholesalers 414 I Wholesaler Marketing Decisions 414 j Trends in Wholesaling 417 [ Reviewing Objectives and Key Terms 419 | Key Terms 419 ] Discussing & Applying the Concepts 420 | Focus on Technology 420 | Focus on Ethics 420 | Marketing by the Numbers 421 Video Case: Wellbeing 421

Company Case: Whole Foods: A Whole-istic Strategy 421

Chapter 14

Communicating Customer Value: Integrated Marketing Communications Strategy 424

The Promotion Mix 426

Integrated Marketing Communications 427

The New Marketing Communications Landscape 427 ¡ The Shifting Marketing Communications Model 428 | The Need for Integrated Marketing Communications 429

A View of the Communication Process 431

Steps in Developing Effective Marketing Communication 433

Identifying the Target Audience 433 | Determining the Communication Objectives 433 | Designing a Message 434 1 Choosing Media 436 | Selecting the Message Source 438 [ Collecting Feedback 438

Setting the Total Promotion Budget and Mix 439

Setting the Total Promotion Budget 439 | Shaping the Overall Promotion Mix 440 | Integrating the Promotion Mix 444

Socially Responsible Marketing Communication 445

Advertising and Sales Promotion 445 j Personal Selling 446 | Reviewing Objectives and Key Terms 446 | Key Terms 447 Discussing & Applying the Concepts 447 | Focus on Technology 448 | Focus on Ethics 448 | Marketing by the Numbers 448 Video Case: Crispin Porter + Bogusky 449 Company Case: Burger King: Promoting a Food Fight 449

Advertising and Public Relations

Chapter 15

Advertising 454

Setting Advertising Objectives 455 | Setting the Advertising Budget 456 | Developing Advertising Strategy 457 | Evaluating Advertising Effectiveness and Return on Advertising Investment 467 j Other Advertising Considerations 468

Public Relations 472

The Role and Impact of Public Relations 472 | Major Public Relations Tools 474 j Reviewing Objectives and Key Terms 475 j Key Terms 476 | Discussing & Applying the Concepts 476 | Focus on Technology 477 | Focus on Ethics 477 | Marketing by the Numbers 477 Video Case: E*TRADE 478

Company Case: Coca-Cola: Another Advertising Hit 478

Discussing & Applying the Concepts 508 Focus on Technology 508 | Focus on Ethics 509 | Marketing by the Numbers 509 Video Case: The Principal Financial Group 509 Company Case: Procter & Gamble: Selling Through Customer Business Development 510

Chapter 17

Direct and Online Marketing: Building Direct Customer Relationships 512

The New Direct Marketing Model 514 Growth and Benefits of Direct Marketing 515

Benefits to Buyers 516 | Benefits to Sellers 516

Customer Databases and Direct Marketing 517 Forms of Direct Marketing 519

Direct-Mail Marketing 519 | Catalog Marketing 520 |

Telephone Marketing 521 j Direct-Response Television Marketing 523 [ Kiosk Marketing 525 | New Digital Direct Marketing Technologies 525

Online Marketing 528

Marketing and the Internet 528 | Online Marketing Domains 529 | Setting Up an Online Marketing Presence 532 | The Promise and Challenges of Online Marketing 540

Public Policy Issues in Direct Marketing 541

Irritation, Unfairness, Deception, and Fraud 541 j Invasion of Privacy 542 | A Need for Action 543 j Reviewing Objectives and Key Terms 544 | Key Terms 545 | Discussing & Applying the Concepts 545 | Focus on Technology 545 | Focus on Ethics 546 I Marketing by the Numbers 546 Video Case: Google 546

Company Case: Viagogo: Online Ticket Reselling Wars Begin in Europe 547

Chapter 16

The Role of the Sales

Personal Selling and Sales Promotion Personal Selling 482

The Nature of Personal Selling 482 Force 483

Managing the Sales Force 485

Designing Sales Force Strategy and Structure 485 j Recruiting and Selecting Salespeople 490 I Training Salespeople 491 i Compensating Salespeople 492 | Supervising and Motivating Salespeople 493 | Evaluating Salespeople and Sales Force Performance 495

The Personal Selling Process 496

Steps in the Selling Process 496 j Personal Selling and Managing Customer Relationships 499

Sales Promotion 499

Rapid Growth of Sales Promotion 501 | Sales Promotion Objectives 502 | Major Sales Promotion Tools 503 | Developing the Sales Promotion Program 506 | Reviewing Objectives and Key Terms 507 | Key Terms 508 |

Chapter 18

Creating Competitive Advantage 550 Competitor Analysis 552

Identifying Competitors 552 | Assessing Competitors 554 j Selecting Competitors to Attack and Avoid 555 j Designing a Competitive Intelligence System 558

Competitive Strategies 558

Approaches to Marketing Strategy 558 ] Basic Competitive Strategies 560 | Competitive Positions 561 j Market Leader Strategies 563 | Market Challenger Strategies 566 | Market Follower Strategies 567 | Market Nicher Strategies 567

Balancing Customer and Competitor Orientations 570

Reviewing Objectives and Key Terms 571 | Key Terms 571 | Discussing & Applying the Concepts 571 | Focus on Technology 572 | Focus on Ethics 572 | Marketing by the Numbers 572 Video Case: Umpqua Bank 573

Company Case: Bose: Competing by Being Truly Different 573

Chapter 19

The Global Marketplace

Global Marketing Today 578

Looking at the Global Marketing Environment 580

The International Trade System 580 | Economic Environment 582 | Political-Legal Environment 583 | Cultural Environment 584

Deciding Whether to Go Global 587 Deciding Which Markets to Enter 588 Deciding How to Enter the Market 590

Exporting 590 | loint Venturing 590 [ Direct Investment 592

Deciding on the Global Marketing Program 592

Product 593 | Promotion 595 | Price 596 ] Distribution Channels 598

Deciding on the Global Marketing Organization 599

Reviewing Objectives and Key Terms 600 | Key Terms 601 | Discussing & Applying the Concepts 601 | Focus on Technology 602 | Focus on Ethics 602 | Marketing by the Numbers 602 Video Case: Nivea 603

Company Case: Nokia: Envisioning a Connected World 603

Chapter 20

Sustainable Marketing: Social Responsibility and Ethics Sustainable Marketing 608

Social Criticisms of Marketing 610

Marketing's Impact on Individual Consumers 610 Marketing's Impact on Society as a Whole 615 | Marketing's Impact on Other Businesses 618

Consumer Actions to Promote Sustainable Marketing 619

Consumerism 619 | Environmentalism 620 | Public Actions to Regulate Marketing 623

Business Actions Toward Sustainable Marketing 626

Sustainable Marketing Principles 626 | Marketing Ethics 629 The Sustainable Company 632 | Reviewing Objectives and Key Terms 633 | Key Terms 634 | Discussing & Applying the Concepts 634 j Focus on Technology 634 | Focus on Ethics 635 I Marketing by the Numbers 635 Video Case: Land Rover 635

Company Case: ExxonMobil: Social Responsibility in a Commodity Market 636

Appendix 1: Marketing Plan Al

Appendix 2: Marketing by the Numbers Al 1

Appendix 3: Careers in Marketing A29

References R1

Glossary G1

Credits CI

Index II

t^WjHM^B^^B^^^^^W Parti Defining Marketing and the Marketing Process (Chapters 1, 2)

Q Q pt© I" 1 ï Understanding the Marketplace and Consumers (Chapters 3,4,5,6)

Designing a Customer-Driven Strategy and Mix (Chapters 7,8,9,10,11,12,13,14s IS, lé, s?) Extending Marketing (Chapters 1®, 19,20)

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