MKTG5 [Team-IRA]

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Contents
Guide to the text
Guide to the online resources
PART 1: An introduction to marketing
	1: An overview of marketing
		What is marketing?
			A social and evolving science
			Participating in marketing
		Marketing exchange
		Marketing management philosophies
			Production orientation
			Sales orientation
			Market orientation
			Societal marketing orientation
			Co-created value orientation
			Who’s in charge?
		How organisations apply the different orientations
			The organisation’s focus
			The organisation’s understanding of customer value
			The organisation’s attitude to customer satisfaction
			Defining the organisation’s business
			Identifying the product’s target audience
			The organisation’s primary goal
			The sales tools the organisation uses
			Building relationships
		Why study marketing?
			Marketing plays an important role in society
			Marketing is important to businesses
			Marketing offers outstanding career opportunities
			Marketing is important to you
	2: Ethics and the marketing environment
		The external marketing environment
			Factor 1: Understand current customers
			Factor 2: Understand what drives consumer decisions
			Factor 3: Identify the most valuable customers and understand their needs
			Factor 4: Understand the competition
			Environmental management
		The sociocultural environment
			Baby boomers: demanding change
			Generation X: savvy and cynical
			Generation Y (Millennials): born to shop
			Generation Z or iGeneration: the silent generation
			Generation Alpha
			How social media have changed our behaviour
			Growth of component lifestyles
		The demographic environment
			The changing character of families
			Multiculturalism
		The economic environment
			Consumer incomes
			Inflation
			Recession
		The technological environment
		The competitive environment
			Industry analysis
			Identifying your place in the industry
			Competitor analysis
		The political and legal environment
			Federal legislation
			Regulatory agencies
		Ethics, morality and law
			Ethical theories
			Personal ethics
PART 2: Consumer information
	3: Consumer decision making
		Understanding consumer behaviour
			Value
		The traditional consumer decision-making process
			Stage 1: Need recognition
			Stage 2: Information search
			Stage 3: Evaluation of alternatives
			Stage 4: Purchase
			Stage 5: Post-purchase behaviour
		Consumer buying decisions and involvement
			Determining the level of consumer involvement
			Marketing implications of involvement
			The consumer decision journey
		Factors influencing consumer buying decisions
			Cultural influences
			Social influences
			Individual influences
			Psychological influences
	4: Business-to-business marketing
		What is business-to-business marketing (B2B)?
		Business versus consumer markets
			Demand
			Purchase volume
			Number of customers
			Distribution structure
			Nature of buying
			Primary promotional method
		Trends in B2B marketing
			Social media in B2B marketing
			Content marketing
			Personalised communications and AI
			Account-based marketing
		Relationship marketing and strategic alliances
		Major categories of business customers
			Producers
			Resellers
			Governments
			Institutions
		Types of business products
			Major equipment
			Accessory equipment
			Raw materials
			Component parts
			Processed materials
			Supplies
			Business services
		Understand business buying behaviour
			Buying centres
			Evaluative criteria
			Buying situations
			Purchasing ethics
			Customer service
	5: Segmenting and targeting markets
		Understanding market segmentation
			What is a market segment?
			Why marketers use segmentation
		The process of segmenting a market
		Step 1: Select a market or product category for study
		Step 2: Select bases and descriptors/variables for segmentation
			Geographic base
			Demographic base
			Psychographic base
			Behavioural base
			Access base
		Step 3: Analyse and profile segments to identify target markets
		Step 4: Select targeting strategies
			Undifferentiated targeting
			Concentrated targeting
			Multi-segment targeting
		Step 5: Develop a positioning strategy
			Perceptual mapping
			Positioning bases
		Segmenting for markets other than consumer markets
			Segmenting business markets
			Segmenting for a one-to-one market
			Segmenting a global market
			Segmentation in a social market
	6: Market research, data collection and analytics
		The role of market research in marketing decision making
			The practice of market research
		Steps in a market research project
			Opportunity or problem definition
			Secondary data
			Research design
			Sampling
			Collecting data
			Analysing data
			Present findings and recommend actions
			Following up
		The growth of emerging technologies
			Mobile-first delivery
			Consumer-generated media (CGM)
			Competitive intelligence
PART 3: Managing the marketing mix
	7: Managing the marketing mix
		What is a product?
		Types of products
			Convenience products
			Shopping products
			Speciality products
			Unsought products
		Product items, lines and mixes
			Adjustments to product items, lines and mixes
		The market uses of branding
			Benefits of branding
			Branding strategies
			Generic products versus branded products
			Manufacturers’ brands versus private brands
			Individual brands versus family brands
			Co-branding
			Trademarks
		Packaging and labelling
			Packaging functions
			Labelling
			Greenwashing
			Universal product codes
			Quick response codes
		Product guarantees and warranties
	8: Developing and managing products
		The product life cycle (PLC)
			Introductory stage
			Growth stage
			Maturity stage
			Decline stage
			Implications for marketing management
		The importance of new products
			Categories of new products
		The new-product development process
			New-product strategy
			Idea generation
			Idea screening
			Business analysis
			Development
			Test marketing
			Commercialisation
		Global issues in new-product development
		The spread of new products
			Diffusion of innovation
			Product characteristics and the rate of adoption
			Marketing implications of the adoption process
	9: Services, non-profit and other intangibles
		The importance of services marketing
		How services differ from goods
			Intangibility
			Inseparability
			Heterogeneity
			Perishability
		Service quality
		Marketing mixes for services
			Product (service) strategy
			Place (distribution) strategy
			Promotion strategy
			Price strategy
			Global issues
		Relationship marketing in services
			Internal marketing in service organisations
		Non-profit-organisation marketing
			Unique aspects of non-profit organisation marketing strategies
			Product decisions
			Place (distribution) decisions
			Promotion decisions
			Pricing decisions
		Social and peer-to-peer marketing
			Peer-to-peer marketing
	10: Marketing channels and distribution decisions
		Marketing channels
			Specialisation and division of labour
			Overcoming discrepancies
			Contact efficiency
		Channel intermediaries and their functions
			Channel functions performed by intermediaries
			Channel structures
			Alternative channel arrangements
		Issues that influence channel strategy
			Factors affecting channel choice
			Levels of distribution intensity
			Channels and their relationships
		Supply chains and supply chain management
			Benefits of supply chain management
			Supply chain integration
			The gap model of service quality
		The key processes of supply chain management
			Customer relationship management
			Customer service management
			Demand management
			Order fulfilment
			Manufacturing flow management
			Supplier relationship management
			Product development and commercialisation
			Returns management
		How supply chain functions affect company success
			Supply management
			Inventory control
			Order processing
			Production
			Warehousing and materials handling
			Transportation
			Supply chain technologies
			Sustainable supply chain management
		Trends in supply chain management
			Outsourcing logistics functions
			Supply chain risk, security and resilience
			Electronic distribution
			Blockchains
			Global logistics and supply chain management
		Channel and distribution decisions: retail and services
			Retailing
			Main types of retail operations
			Services
		Customer trends and advancements
			Omnichannel versus multichannel marketing
			Use of emerging technology
	11: Integrated marketing communication (IMC)
		Introducing integrated marketing communication (IMC)
			Traditional media and digital marketing
		The communication process
			The sender and encoding
			Message transmission
			The receiver and decoding
			Feedback
			The communication process and the promotional mix
		The goals and tasks of promotion
			Informing
			Persuading
			Reminding
			Connecting
		The elements of the promotional mix
			Personal selling
			Direct marketing
			Advertising
			Sales promotion
			Public relations
			Content marketing and social media
		Factors affecting the promotional mix
			Nature of the product
			Stage in the product life cycle
			Target market characteristics
			Type of buying decision
			Availability of funds for promotion
			Push and pull strategies
		Promotional goals and the AIDA concept
			AIDA and the promotional mix
	12: The promotions mix
		The importance and effects of advertising
			Advertising and market share
			Advertising and the consumer
		Types of advertising
			Institutional advertising
			Product advertising
		Making creative and media decisions
			Determining advertising campaign objectives
			Post-campaign evaluation
			Media types
			Media selection considerations
			Media scheduling
		Sales promotion
			The objectives of sales promotion
			Tools for consumer sales promotion
		Public relations
			Major PR tools
			Managing unfavourable publicity
		Personal selling
			Relationship selling
			Selling in the technology age
			Customer relationship management (CRM) and personal selling
			Leveraging customer information
		Social media
			Types of media
			Social behaviour of consumers
			Identifying social media objectives
			Evaluation and measurement of social media
			Social media tools
			Mobile technology
			The changing world of social media
	13: Pricing
		The importance of price
			What is price?
			The importance of price to marketing managers
		Pricing objectives
			Profit-oriented pricing objectives
			Sales-oriented pricing objectives
			Status-quo pricing objectives
		The demand determinant of price
			The nature of demand
			How demand and supply establish prices
			Elasticity of demand
		The cost determinant of price
			Mark-up pricing
		Other determinants of price
			Stages in the product life cycle
			The competition
			Distribution strategy
			The electronic environment
			Promotion strategy
			Demands of large customers
			The relationship of price to quality
		How to set a price on a product
			Establish pricing goals
			Estimate demand, costs and profits
			Choose a price strategy
		The legality and ethics of price strategy
			Unfair trade
			Price fixing or collusion
			Price discrimination
			Predatory pricing
		Fine-tuning the base price
			Discounts, allowances, rebates and value pricing
			Value-based pricing
			Geographic pricing
			Special pricing tactics
PART 4: The world of marketing
	14: Global marketing
		The impact of global marketing
			Developing a global vision
			Importance of global marketing
		The external environment
			Culture
			Economic and technological development
			Political structure
			Demographic make-up
			Natural resources
		Global marketing by an organisation
			Exporting
			Licensing
			Contract manufacturing
			Joint venture
			Direct foreign investment
		The global marketing mix
			Product and promotion
			Pricing
			Place (distribution)
		Effect of the Internet on global marketing
			Social media
	15: Marketing strategy and planning
		Why plan?
			Developing a mission statement and objectives
		Levels of strategy
		Corporate social responsibility
			Sustainability
			Ethical business decision making
		Marketing strategic planning
		Analysis of the marketing situation
			Identifying competitive advantage
			Identifying strategic alternatives
		Developing the marketing plan
			Marketing objectives
			Establishing marketing mix components for each target market
		Implementation, evaluation and control processes
	16: Marketing and new technology
		The impact of the changing environment on marketing
			Sociocultural environment
			Economic environment
			Political and legal environment
			Competitive environment
			Technological environment
		The impact of disruptive technologies on marketing practice and strategy
			Crowdsourcing
			Technology and entrepreneurship
			Operating systems and mobile technology
			Market research and technology
		The impact of new technologies and media on business-to-business (B2B), business-to-consumer (B2C) and peer-to-peer (P2P) markets
			B2B markets
			B2C markets
			P2P markets
		Emerging issues affecting marketing
			Virtual worlds and virtual reality
			Value and co-creation
			Analytics and metrics
			Artificial intelligence (AI)
			Conclusion
Endnotes
Index
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