Demystifying Marketing: a guide to the fundamentals for engineers (Iet Management of Technology Series 23)

Contents......Page 6
Preface......Page 14
Acknowledgements......Page 16
PART I An overview of marketing......Page 18
1.1 Marketing misunderstood......Page 20
1.1.2 Scope and definition......Page 21
1.2 The company and its function......Page 24
1.3.1 The three/four Ps (and more)......Page 26
1.3.2 The extended marketing mix......Page 27
1.4 Summary......Page 28
2.1 The environment......Page 30
2.2.1 The nature of the cycle......Page 33
2.2.2 Customers and the cycle......Page 34
2.3.1 The issues in question......Page 35
2.3.2 The effects of ethical/unethical marketing......Page 36
2.4.1 What is a market?......Page 38
2.4.2 Market segmentation......Page 39
2.4.3 Advantages of segmentation......Page 40
2.5 Summary......Page 41
PART II Fundamental issues......Page 42
3.1.1 Major marketing sectors......Page 44
3.2.1 Social marketing......Page 48
3.4 Industry specialization......Page 49
3.5.1 The product USP......Page 50
3.5.2 The augmented product......Page 51
3.6 Summary......Page 52
4.1 How much?......Page 54
4.2 Setting price......Page 55
4.2.2 Market-demand-based pricing (the economist™s approach)......Page 56
4.3 Pricing strategies......Page 57
4.3.2 Penetration price policy......Page 58
4.3.4 Day-to-day tactics......Page 59
4.5 Psychology of price and customer reaction to it......Page 61
4.6 A systematic approach......Page 62
4.7 Summary......Page 65
5.1.1 An antidote to risk......Page 66
5.1.2 The purpose of market research......Page 67
5.2 The role of market research......Page 68
5.2.2 Further possibilities......Page 69
5.3.2 Desk research......Page 70
5.3.6 Geodemographics......Page 71
5.4.2 Face-to-face interviewing......Page 72
5.4.6 Panels and diaries......Page 73
5.4.11 Group discussions (focus groups)......Page 74
5.5.1 Data analysis......Page 75
5.6.1 Research as a success-generating factor......Page 76
5.6.2 A research project Πan overview......Page 77
5.7 Summary......Page 79
6.1.1 The need for distribution......Page 80
6.1.2 Channel management......Page 81
6.1.3 The impact of distribution on marketing success......Page 82
6.1.5 Market maps......Page 83
6.2 The case for distributors......Page 86
6.2.1 Distributive downsides......Page 87
6.3.1 Analysing the options......Page 88
6.3.2 Variety and change......Page 89
6.3.3 Service to customers......Page 90
6.4.1 The nature of distributor power......Page 91
6.4.2 An agreed deal......Page 92
6.5.1 Active management......Page 93
6.6.1 Making the selection......Page 94
6.6.3 Ensuring a customer focus......Page 95
6.6.5 Influencing those involved along the channels......Page 96
6.6.8 Match marketing activity to individual channels......Page 97
6.6.10 Innovate and seek new solutions......Page 98
6.8 Summary......Page 99
PART III Strategy and marketing planning......Page 100
7.1 In a position to succeed......Page 102
7.2 The market......Page 103
7.3 Marketing objectives and strategies......Page 104
7.4 Strategy: planning and analysis......Page 106
7.4.2 An organization™s strengths and weaknesses......Page 107
7.4.3 Market opportunities and threats......Page 108
7.4.4 Practical use of SWOTs......Page 109
7.4.5 Other approaches......Page 110
7.5.2 Planning to protect and increase customer profitability......Page 111
7.6 Summary......Page 113
8.1.1 The core reasons......Page 114
8.2 Mission statements......Page 116
8.3 The core planning principles......Page 117
8.4.2 Objectives and strategies......Page 118
8.4.3 Products and price......Page 119
8.5.1 A systematic approach to the promotional area......Page 120
8.5.2 Beyond promotion......Page 124
8.6 An element of control......Page 125
8.7 Summary......Page 126
9.1 Organizing the marketing function......Page 128
9.2.1 The planning elements......Page 129
9.2.3 Variance analysis......Page 130
9.3.1 Measuring corporate performance......Page 132
9.3.2 Identifying the profit input of marketing......Page 134
9.3.3 Ongoing systematic review......Page 135
9.4 Summary......Page 139
PART IV Marketing communications......Page 140
10.1.1 Suspects......Page 142
10.1.3 First-time buyer/customer Πconverting enquiries to sales......Page 143
10.2.1 The recognition of an unsatisfied need/want/desire......Page 144
10.2.6 Post-purchase behaviour......Page 145
10.3 Purchasing decision criteria......Page 147
10.4 Influencing people towards purchase......Page 148
10.4.1 Objectives on the way to purchase......Page 149
10.4.2 Customers: building awareness......Page 150
10.5.1 The letter of the law......Page 152
10.6 Summary......Page 153
11.1 What is promotion?......Page 154
11.1.1 The promotional mix......Page 155
11.2.3 Interest?evaluation......Page 156
11.2.6 Usage?repeat usage......Page 157
11.3.1 Public relations......Page 158
11.3.2 Press relations......Page 160
11.4.1 The role of advertising......Page 163
11.4.3 Advertising media and methods......Page 165
11.4.4 Trade advertising......Page 167
11.4.5 Advertising strategy......Page 168
11.4.6 Advertising approaches......Page 169
11.5 Direct-mail promotion......Page 171
11.5.1 The elements of direct mail......Page 172
11.6.1 The role of sales promotion in marketing......Page 174
11.6.2 Types of promotion......Page 175
11.7 Merchandising and display......Page 177
11.7.2 The physical layout of the shop......Page 179
11.8.1 The Electronic Revolution......Page 181
"11.8.2 Help, please"......Page 185
11.8.3 Going electronic......Page 186
11.8.4 Three distinct tasks......Page 187
11.8.5 Additional possibilities......Page 188
11.9.1 Planning the promotional strategy......Page 189
11.10.2 Competitive parity approach......Page 190
11.10.6 What has been learned from previous years?......Page 191
11.10.7 Task method approach......Page 192
11.11 Summary......Page 193
12.1.1 The nature of the process......Page 194
12.1.2 Prospects Πthe process of location......Page 195
12.1.3 The sales process......Page 197
12.1.4 Sales management......Page 199
12.1.5 Sales productivity......Page 200
12.2 Customer account management......Page 201
12.3.1 Excellence in customer care......Page 202
12.3.3 Handling complaints......Page 203
12.3.5 Managing to produce good customer care......Page 204
12.3.6 Backup activities to support sales and service......Page 205
12.4 Summary......Page 206
Afterword......Page 208
Index......Page 210