Marketing Management: European Edition

Front Cover
Half Title Page
Title Page
Copyright Page
About the authors
Brief contents
Contents
Preface
Acknowledgements
Publisher’s acknowledgements
PART 1 Understanding Marketing Management
	Chapter 1 Defining marketing for the new realities
		The value of marketing
		The scope of marketing
			Marketing’s role in creating demand
		European marketing realities
			Technology
			Globalisation
			Social responsibility
		A dramatically changed marketplace
			New consumer capabilities
			New company capabilities
		Marketing philosophy: production, selling, marketing and holistic marketing philosophies
			The production philosophy
			The selling philosophy
			The marketing philosophy
			The holistic marketing philosophy
		Overview of marketing management
			Case study of marketing management
	Chapter 2 Understanding marketing management within a global context
		What is management?
			The process of management
			Why is management difficult?
		What is marketing management?
			Valuing marketing within organisations
			Managing across the entire organisation
			Managing outsourced activities
			Managing networks and relationships
		Understanding global marketing management
			Deciding whether to go abroad
			Deciding how to enter the market
			Deciding which markets to enter
			Deciding on standardised or adapted marketing
		Managing in developing and low-income markets
	Chapter 3 Developing marketing strategies and plans
		Marketing and customer-perceived value
			Business environment paradigm change
			The value delivery process
			The value chain
			Core competencies
			A holistic marketing orientation and customer-perceived value
			The central role of corporate strategic planning
		Corporate and divisional strategic planning
			Defining the corporate mission
			Organisation and organisational culture
			Defining the business
			Assigning resources to each SBU
			Building the corporate business portfolio – assessing growth opportunities
			Marketing innovation
		Business unit strategic planning
			The business mission
			SWOT analysis
			Critique of conventional SWOT analysis
			Goal formulation
			Strategic formulation
			Programme formulation and implementation
			Feedback and control
			Change today, not tomorrow
			Questions
			Contents of the marketing plan
		Sample marketing plan: €uromart
			Introduction
	Chapter 4 Managing digital technology in marketing
		Understanding digital technologies within marketing management
			The range of technologies in marketing
			Information and interaction perspectives
		Managing digital technologies
		Evaluation and selection of digital technologies
		Supporting the adoption and implementation of digital technologies
		Uniting marketing and IT functions
		Future technologies: opportunities and challenges
		Part 1 Case study: Virgin Atlantic
PART 2 Capturing Marketing Insights
	Chapter 5 The changing marketing environment and information management
		The company environment
		The marketing environment
			Analysing the macroenvironment
			The sociocultural and demographic environment
			The economic environment
			The social–cultural environment
			The ecological and physical environment
			The technological environment
			The political–legal environment
		Managing the marketing information system
			Components of a modern marketing information system
			Internal records
			The marketing intelligence system
		Databases, data warehousing and data mining
	Chapter 6 Managing market research and forecasting
		The marketing research system
		The marketing research process
			Step 1: define the problem, the decision alternatives and the research objectives
			Step 2: develop the research plan
			Step 3: collect the information
			Step 4: analyse the information
			Step 5: present the findings
			Step 6: make the decision
			Overcoming barriers to the use of marketing research
		Forecasting and demand measurement
			The measures of market demand
			Estimating current demand
			Estimating future demand
	Chapter 7 Analysing consumer markets
		The study of consumer behaviour
			Culture
			Social groups
			The individual consumer
			The interaction between dimensions
		Key psychological processes
			Motivation: Freud, Maslow, Herzberg
			Perception
			Learning
			Memory
		Perspectives on consumer behaviour
			The behaviourist perspective
			The information-processing perspective
			The emotional perspective
			The cultural perspective
			A multi-perspective approach
		The buying decision process: the five-stage model
			Problem recognition
			Information search
			Evaluation of alternatives
			Purchase decision
			Post-purchase behaviour
		Other theories of consumer decision making
			Level of consumer involvement
		Behavioural decision theory and behavioural economics
			Decision heuristics
			Framing
			Mental accounting
			Profiling consumer product buying and usage behaviour
	Chapter 8 Analysing business markets
		What is organisational buying?
			The business market versus the consumer market
			Buying situations
			Systems buying and selling
		Participants in the business buying process
			The buying centre
			Buying centre influences
			Targeting firms and buying centres
		The purchasing/procurement process
		Stages in the buying process
			Problem recognition
			General need description and product specification
			Supplier search
			Proposal solicitation
			Supplier selection
			Order-routine specification
			Performance review
		Managing business-to-business relationships
			The role of uncertainty in business relationships
			Transaction cost economics
			Network theory
			Vertical coordination
		Institutional and government markets
	Chapter 9 Dealing with competition
		Identifying competitors
		Analysing competitors
			Strategies
			Objectives
			Strengths and weaknesses
			Selecting competitors
			Selecting customers
		Competitive strategies for market leaders
			Expanding the total market
			Protecting market share
			Expanding market share
		Other competitive strategies
			Market-challenger strategies
			Market-follower strategies
			Market-nicher strategies
		Balancing customer and competitor orientations
			Competitor-centred companies
			Customer-centred companies
		Competing in an economic downturn
			Explore the upside of increasing investment
			Get closer to customers
			Review budget allocations
			Put forth the most compelling value proposition
			Fine-tune brand and product offerings
		Part 2 Case study: Cheese odour marketing
PART 3 Connecting with Customers
	Chapter 10 Seeking and developing target marketing differentiation strategies
		Levels of market segmentation
			Segment group marketing
			Niche marketing
			Local marketing
			Individual marketing
		Bases for segmenting consumer markets
			Geographic segmentation
			Demographic segmentation
			Psychographic segmentation
			Behavioural segmentation
		Bases for segmenting business markets
		Market targeting
			Effective segmentation criteria
			Evaluating and selecting market segments
			Additional considerations
		Creating differentiation and positioning strategies
			Positioning
			Establishing category membership
			Choosing POPs and PODs
			Creating POPs and PODs
		Perceptual or positioning mapping
			What can positioning analysis do for a company’s business?
			Positioning maps
			Developing a positioning strategy
		Repositioning
		Developing and communicating a differentiation strategy
			Cost leadership
			Distinctive superior quality
			Cost leadership and quality differentiation
		Differentiation strategies
		The purpose of positioning
	Chapter 11 Creating customer value, satisfaction and loyalty
		Building customer value
			Customer-perceived value
		Building customer satisfaction
			Brand inertia and brand loyalty
			Total customer satisfaction
			Market offering quality dimension
		Maximising customer lifetime value
			Customer profitability
			Customer lifetime value – conceptual dream or real-time activity?
		Cultivating customer relationships
			Customer relationship management
			Attracting and retaining customers
		Building customer loyalty
			Improving loyalty
			Developing loyalty programmes
		The experience economy
			The value experience
			Interactive marketing
			Complexity of markets
			Emotional turn
	Chapter 12 Creating and managing brands and brand equity
		Understanding brand management
			What is a brand?
			The roles of brands
		Strategic brand management decisions
			Creating and managing brand identities: names, logos, slogans and images
			Brand narratives and storytelling
			Managing individual or house brand names
			Managing brand extensions
			Managing brand portfolios
			Brand reinforcing and revitalisation
		Growing, sustaining and managing brand equity
	Chapter 13 Digital and global brand management strategies
		What is a digital brand?
			Digital branding as a core management requirement
			Understanding the digital brand experience
		Understanding the consumer decision journey and digital branding
			Linking social networking and the consumer decision journey
			Digital brand communities
			Online brand communities’ member characteristics
		Managing global brands
			Factors leading to increased global branding
		Managing iconic global brands
		Operating a global brand strategy
		Part 3 Case study: San Pellegrino: delighting mineral water consumers
PART 4 Shaping and Pricing the Market Offering
	Chapter 14 Designing, developing and managing market offerings
		Product life cycle marketing strategies
			Product life cycles
			Style, fashion and fad life cycles
			Marketing strategies: the introduction stage and the pioneer advantage
			Marketing strategies: the growth stage
			Marketing strategies: the maturity stage
			Marketing strategies: the decline stage
		Evidence on and critique of the product life cycle concept
			Critique of the product life cycle concept
		Market evolution
			Emergence
			Growth
			Maturity
			Decline
		Product characteristics and classifications
			Product levels: the customer-perceived value hierarchy
			Product/market offering classifications
		Differentiation
			Market offering differentiation
			Design differentiation
			Service differentiation
		Product and brand relationships
			The product/market offering hierarchy
			Product/market offering systems and mixes
			Product-line analysis
			Product-line length
			Co-branding and ingredient branding
		Packaging, labelling, warranties and guarantees
			Packaging
			Labelling
			Warranties and guarantees
	Chapter 15 Introducing new market offerings
		New market offering options
			Make or buy?
			Types of new product
		Challenges in new-product/market offering development
			The innovation imperative
			New product/market offering success
			New product/market offering failure
		Organisational arrangements
			Budgeting for new product development
			Organising new product/market offering development
		Managing the development process: Stage 1 – ideas
			Process stages
			Idea generation
			Idea screening
		Managing the development process: Stage 2 – concept to strategy
			Concept development and testing
			Marketing strategy development
			Business analysis
		Managing the development process: Stage 3 – prototype to commercialisation
			Product and market development
			Market testing
			Commercialisation and launch
		The consumer adoption process
			Stages in the process
			Factors influencing the process
	Chapter 16 Developing and managing pricing strategies
		Understanding pricing
			Pricing in a digital world
			How companies price
			Consumer psychology and pricing
		Setting the price
			Step 1: selecting the pricing objective
			Step 2: determining demand
			Step 3: estimating costs
			Step 4: analysing competitors’ costs, prices and offers
			Step 5: selecting a pricing method
			Step 6: selecting the final price
		Adapting the price
			Geographical pricing (cash, countertrade, barter)
			Price discounts and allowances
			Promotional pricing
			Differentiated pricing
		Initiating and responding to price changes
			Initiating price cuts
			Initiating price increases
			Responding to competitors’ price changes
		Part 4 Case study: Burberry
PART 5 Communicating Value
	Chapter 17 Designing and managing non-personal marketing communications
		The role of marketing communications
			The changing marketing communications environment
		Non-personal marketing (mass communication)
			Marketing communications, brand equity and sales
			The communication process models
		Developing effective communications
			Identifying the target audience
			Deciding the communications mix objectives
			Designing the communications
			Selecting the communications channels
		Establishing the total marketing communications budget
		Selecting the marketing communications mix
			Characteristics of the mix
			Factors in setting the mix
		Developing and managing an advertising programme
			Setting objectives
			Deciding on the advertising budget and developing the advertising campaign
			Managing media matters
			Evaluating alternative media
			Evaluating advertising effectiveness
		Sales promotion
			Setting objectives
			Advertising versus sales promotion
			Major decisions
		Events, experiences, public and press relations
			Setting objectives
			Major sponsorship experiences
			Creating experiences
			Major decisions in marketing public relations
			Major decisions in marketing press relations
	Chapter 18 Managing personal communications
		Personal communications mix
			Paid, earned and owned media
			Direct marketing
			Personal selling
			Word-of-mouth (WOM) marketing
			Social media marketing
		Direct marketing
			Setting objectives
			The benefits of direct marketing
			Direct mail
			Catalogue marketing
			Telemarketing
			Other media for direct response marketing
			Public and ethical issues
		Interactive and online marketing communications
			Brave new world requires a deeper understanding of consumers
			Online marketing communications
		Developing and managing the personal sales force
			Setting objectives and strategy
			Sales force management issues
			Key principles of personal selling
			The six steps of selling
		Impact of social media technology
			Word-of-mouth (WOM) marketing
			Opinion leaders
		Social media marketing
			The growing importance of social media
			Social media platforms
			Online communities and forums
			Blogs
			Social platforms
			Developing a social media marketing plan
			Advantages and disadvantages of social media
			Evaluating the performance of social media marketing (metrics)
			Social media marketing trends
		Integrated marketing communications (IMC)
			Two-step flow of information
			Coordinating media
			Implementing IMC
		Implications of digital media for practitioners
			Marketing communications toolbox
			Managing an integrated marketing communications mix
		Part 5 Case study: Walkers crisps
PART 6 Delivering Value
	Chapter 19 Designing and managing distribution channels and global value networks
		Managing distribution channels and value networks
			The importance of channels
		The role of distribution channel members
			Channel functions and flows
			Channel levels
			Service supply chain
		Channel-design decisions
			Analysing customer needs and wants
			Establishing objectives and constraints
			Identifying major channel alternatives
			Evaluating major channel alternatives
		Selecting and management channel members
			Selecting channel members
			Evaluating channel members
			Modifying channel design and arrangements
			Channel integration and systems
			Vertical marketing systems
			Managing conflict, cooperation and competition
			Types of conflict and competition
			Managing channel conflict
		Integrating multichannel and omnichannels
		Online, mobile and digital channel management
			Online-only companies
			Online and brick-and-click companies
		Exploring future technologies within distribution
	Chapter 20 Managing process, people and physical evidence
		Service process design and management
			Service process blueprint
			Managing variability within service process design
			Service process and customer satisfaction
		Understanding people management challenges
			Managing technology-supported interactions
			Training service personnel
			Hiring and managing service personnel
			Service personnel managing failure and recovery
			Co-creation of value: customer participation
			Service-level engagement
		Managing the physical evidence and experience environment
			Managing sensory marketing: using the five senses
		The future: managing and combining human and digital
		Part 6 Case study: Apple stores: delivering value
PART 7 Managing Marketing Implementation and Control
	Chapter 21 Implementing marketing management
		Restructuring marketing practices
		Internal marketing
			Critique of internal marketing
			Organising the marketing department
			Relations with other departments
		Building a creative marketing organisation
			Taking the creative approach
			Building a creative culture
			Creativity – a mystical gift for some or something for all?
			Maintaining momentum
			Marketing implementation
			Leadership
			Methodology and making room for creativity
			Fostering a creative marketing culture
		Socially responsible marketing
			Corporate social responsibility
			Socially responsible business models
		Cause-related marketing
			Cause-marketing benefits and costs
			Social marketing
			Ethnic marketing
			Green marketing
		Digital and traditional marketing are inseparable
			The Internet of things
		Marketing revisited
			The marketing manager’s key tasks
			Quo vadis?
			Back to basics and some new perspectives
			Holding things together
		Getting started
	Chapter 22 Managing marketing metrics
		The need for marketing metrics
		What marketing metrics should do
		Measuring the past, the present or the future
		Measuring marketing performance and productivity
			Counting-based metrics
			Accounting-based metrics
			Outcome metrics
			Big data and social media metrics
		Corporate social responsibility
		Marketing dashboards
		Part 7 Case study: Unilever: implementing and measuring corporate sustainability
Glossary
Index