Marketing Management, 14th Edition

Cover......Page 1
Title Page......Page 2
Copyright Page......Page 3
About the Authors......Page 5
Contents......Page 8
Preface......Page 17
Acknowledgments......Page 21
CHAPTER 1 Defining Marketing for the 21st Century......Page 25
The Importance of Marketing......Page 26
The Scope of Marketing......Page 28
Core Marketing Concepts......Page 32
The New Marketing Realities......Page 35
MARKETING INSIGHT: Marketing in an Age of Turbulence......Page 39
Company Orientation toward the Marketplace......Page 40
MARKETING MEMO: Marketing Right and Wrong......Page 42
The New Four Ps......Page 48
MARKETING MEMO: Marketers’ Frequently Asked Questions......Page 49
Applications......Page 51
CHAPTER 2 Developing Marketing Strategies and Plans......Page 55
Marketing and Customer Value......Page 56
Corporate and Division Strategic Planning......Page 60
MARKETING INSIGHT: Creating Innovative Marketing......Page 69
Business Unit Strategic Planning......Page 70
MARKETING MEMO: Checklist for Performing Strengths/Weaknesses Analysis......Page 75
Product Planning: The Nature and Contents of a Marketing Plan......Page 77
MARKETING MEMO: Marketing Plan Criteria......Page 78
Applications......Page 79
CHAPTER 3 Collecting Information and Forecasting Demand......Page 89
Components of a Modern Marketing Information System......Page 90
Internal Records......Page 93
Marketing Intelligence......Page 94
Analyzing the Macroenvironment......Page 97
MARKETING INSIGHT: Finding Gold at the Bottom of the Pyramid......Page 99
MARKETING INSIGHT: The Green Marketing Revolution......Page 105
Forecasting and Demand Measurement......Page 108
Applications......Page 115
CHAPTER 4 Conducting Marketing Research......Page 119
The Marketing Research System......Page 120
The Marketing Research Process......Page 122
MARKETING MEMO: Conducting Informative Focus Groups......Page 125
MARKETING MEMO: Questionnaire Dos and Don’ts......Page 127
MARKETING INSIGHT: Getting into the Heads of Consumers......Page 129
MARKETING INSIGHT: Understanding Brain Science......Page 131
MARKETING INSIGHT: Bringing Marketing Research to Life with Personas......Page 135
Measuring Marketing Productivity......Page 137
MARKETING INSIGHT: Marketing Dashboards to Improve Effectiveness and Efficiency......Page 140
Summary......Page 141
Applications......Page 142
CHAPTER 5 Creating Long-term Loyalty Relationships......Page 145
Building Customer Value, Satisfaction, and Loyalty......Page 146
MARKETING INSIGHT: Net Promoter and Customer Satisfaction......Page 152
MARKETING MEMO: Marketing and Total Quality......Page 155
MARKETING MEMO: Calculating Customer Lifetime Value......Page 157
Customer Databases and Database Marketing......Page 166
MARKETING INSIGHT: The Behavioral Targeting Controversy......Page 169
Applications......Page 170
CHAPTER 6 Analyzing Consumer Markets......Page 173
What Influences Consumer Behavior?......Page 174
MARKETING MEMO: The Average U.S. Consumer Quiz......Page 178
Key Psychological Processes......Page 183
MARKETING INSIGHT: Made to Stick......Page 188
The Buying Decision Process: The Five-Stage Model......Page 189
Behavioral Decision Theory and Behavioral Economics......Page 197
MARKETING INSIGHT: Predictably Irrational......Page 199
Summary......Page 200
Applications......Page 201
CHAPTER 7 Analyzing Business Markets......Page 205
What Is Organizational Buying?......Page 206
Participants in the Business Buying Process......Page 211
MARKETING INSIGHT: Big Sales to Small Businesses......Page 214
The Purchasing/Procurement Process......Page 216
Stages in the Buying Process......Page 218
MARKETING MEMO: Developing Compelling Customer Value Propositions......Page 222
Managing Business-to-Business Customer Relationships......Page 224
MARKETING INSIGHT: Establishing Corporate Trust, Credibility, and Reputation......Page 226
Institutional and Government Markets......Page 228
Summary......Page 230
Applications......Page 231
CHAPTER 8 Identifying Market Segments and Targets......Page 235
Bases for Segmenting Consumer Markets......Page 237
MARKETING INSIGHT: Trading Up, Down, and Over......Page 241
Bases for Segmenting Business Markets......Page 253
Market Targeting......Page 254
MARKETING INSIGHT: Chasing the Long Tail......Page 258
Summary......Page 259
Applications......Page 260
CHAPTER 9 Creating Brand Equity......Page 263
What Is Brand Equity?......Page 264
MARKETING INSIGHT: Brand Bubble Trouble......Page 271
Building Brand Equity......Page 272
MARKETING INSIGHT: The Brand Value Chain......Page 278
MARKETING INSIGHT: What Is a Brand Worth?......Page 280
Managing Brand Equity......Page 281
Devising a Branding Strategy......Page 283
MARKETING MEMO: Twenty-First-Century Branding......Page 290
Summary......Page 291
Applications......Page 292
CHAPTER 10 Crafting the Brand Positioning......Page 297
Developing and Establishing a Brand Positioning......Page 298
MARKETING INSIGHT: High Growth Through Value Innovation......Page 301
MARKETING MEMO: Constructing a Brand Positioning Bull’s-eye......Page 310
Differentiation Strategies......Page 312
Positioning and Branding a Small Business......Page 316
Applications......Page 317
CHAPTER 11 Competitive Dynamics......Page 321
Competitive Strategies for Market Leaders......Page 322
MARKETING INSIGHT: When Your Competitor Delivers More for Less......Page 323
Other Competitive Strategies......Page 328
MARKETING MEMO: Niche Specialist Roles......Page 332
Product Life-Cycle Marketing Strategies......Page 333
MARKETING INSIGHT: Managing a Brand Crisis......Page 339
Marketing in an Economic Downturn......Page 341
Summary......Page 343
Applications......Page 344
CHAPTER 12 Setting Product Strategy......Page 347
Product Characteristics and Classifications......Page 348
Product and Services Differentiation......Page 351
Design......Page 355
Product and Brand Relationships......Page 356
MARKETING INSIGHT: Marketing Luxury Brands......Page 357
MARKETING INSIGHT: When Less Is More......Page 362
MARKETING MEMO: Product-Bundle Pricing Considerations......Page 367
Packaging, Labeling, Warranties, and Guarantees......Page 369
Summary......Page 372
Applications......Page 373
CHAPTER 13 Designing and Managing Services......Page 377
The Nature of Services......Page 378
The New Services Realities......Page 384
Achieving Excellence in Services Marketing......Page 388
MARKETING INSIGHT: Improving Company Call Centers......Page 392
Managing Service Quality......Page 393
MARKETING MEMO: Recommendations for Improving Service Quality......Page 395
Managing Product-Support Services......Page 398
MARKETING MEMO: Assessing E-Service Quality......Page 399
Applications......Page 401
CHAPTER 14 Developing Pricing Strategies and Programs......Page 405
Understanding Pricing......Page 406
MARKETING INSIGHT: Giving It All Away......Page 407
Setting the Price......Page 412
Adapting the Price......Page 426
Initiating and Responding to Price Changes......Page 430
Applications......Page 433
CHAPTER 15 Designing and Managing Integrated Marketing Channels......Page 437
Marketing Channels and Value Networks......Page 438
The Role of Marketing Channels......Page 441
Channel-Design Decisions......Page 445
Channel-Management Decisions......Page 450
Channel Integration and Systems......Page 454
MARKETING INSIGHT: Channel Stewards Take Charge......Page 455
Conflict, Cooperation, and Competition......Page 458
E-Commerce Marketing Practices......Page 461
M-Commerce Marketing Practices......Page 464
Applications......Page 465
CHAPTER 16 Managing Retailing, Wholesaling, and Logistics......Page 469
Retailing......Page 470
MARKETING MEMO: Helping Stores to Sell......Page 481
Private Labels......Page 482
Wholesaling......Page 484
Market Logistics......Page 487
Summary......Page 492
Applications......Page 493
CHAPTER 17 Designing and Managing Integrated Marketing Communications......Page 497
MARKETING INSIGHT: Don’t Touch That Remote......Page 499
Developing Effective Communications......Page 505
MARKETING INSIGHT: Celebrity Endorsements as a Strategy......Page 509
Deciding on the Marketing Communications Mix......Page 513
Managing the Integrated Marketing Communications Process......Page 517
MARKETING MEMO: How Integrated Is Your IMC Program?......Page 519
Applications......Page 520
CHAPTER 18 Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations......Page 525
Developing and Managing an Advertising Program......Page 527
MARKETING MEMO: Print Ad Evaluation Criteria......Page 532
Deciding on Media and Measuring Effectiveness......Page 533
MARKETING INSIGHT: Playing Games with Brands......Page 539
Sales Promotion......Page 542
Events and Experiences......Page 547
MARKETING MEMO: Measuring High Performance Sponsorship Programs......Page 549
Public Relations......Page 550
Applications......Page 553
CHAPTER 19 Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling......Page 557
Direct Marketing......Page 558
Interactive Marketing......Page 563
MARKETING MEMO: How to Maximize the Marketing Value of E-mails......Page 566
MARKETING MEMO: Segmenting Tech Users......Page 568
Word of Mouth......Page 569
MARKETING MEMO: How to Start a Buzz Fire......Page 575
Designing the Sales Force......Page 576
MARKETING INSIGHT: Major Account Management......Page 578
Managing the Sales Force......Page 579
Principles of Personal Selling......Page 583
Summary......Page 585
Applications......Page 586
CHAPTER 20 Introducing New Market Offerings......Page 589
New-Product Options......Page 590
Challenges in New-Product Development......Page 591
Organizational Arrangements......Page 593
Managing the Development Process: Ideas......Page 596
MARKETING INSIGHT: P&G’s New Connect + Develop Approach to Innovation......Page 597
MARKETING MEMO: Seven Ways to Draw New Ideas from Your Customers......Page 599
MARKETING MEMO: How to Run a Successful Brainstorming Session......Page 600
Managing the Development Process: Concept to Strategy......Page 602
Managing the Development Process: Development to Commercialization......Page 608
The Consumer-Adoption Process......Page 612
Summary......Page 613
Applications......Page 614
CHAPTER 21 Tapping into Global Markets......Page 617
Competing on a Global Basis......Page 618
Deciding Which Markets to Enter......Page 620
MARKETING INSIGHT: Spotlight on Key Developing Markets......Page 623
Deciding How to Enter the Market......Page 626
Deciding on the Marketing Program......Page 629
MARKETING MEMO: The Ten Commandments of Global Branding......Page 631
Country-of-Origin Effects......Page 637
Deciding on the Marketing Organization......Page 639
Applications......Page 640
CHAPTER 22 Managing a Holistic Marketing Organization for the Long Run......Page 643
Trends in Marketing Practices......Page 644
Internal Marketing......Page 646
MARKETING MEMO: Characteristics of Company Departments That Are Truly Customer Driven......Page 647
MARKETING INSIGHT: The Marketing CEO......Page 651
Socially Responsible Marketing......Page 652
MARKETING INSIGHT: The Rise of Organic......Page 656
MARKETING MEMO: Making a Difference: Top 10 Tips for Cause Branding......Page 660
Marketing Implementation and Control......Page 663
The Future of Marketing......Page 666
MARKETING MEMO: Major Marketing Weaknesses......Page 670
Applications......Page 671
Appendix Tools for Marketing Control......Page 675
Appendix Sonic Marketing Plan......Page 682
Endnotes......Page 696
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