Principles of Marketing

Front Cover
Front Matter
	Half title
	Dedication
	Full title
	Imprint
	Brief contents
	Contents
	Preface
	A valuable learning package
	Resources for educators and students
	About the authors
	The development story
Part 1 Defining marketing and the marketing process
	Chapter 1 Marketing: Creating and capturing customer value
		Learning objectives
		Concept map
		What is marketing?
			Marketing defined
			The marketing process
		Understanding the marketplace and customer needs
			Customer needs, wants and demands
			Market offerings: Goods, services and experiences
			Customer value and satisfaction
			Exchanges, transactions and relationships
			Markets
		Designing a customer-driven marketing strategy
			Selecting customers to serve
			Choosing a value proposition
			Marketing management orientations
		Preparing an integrated marketing plan and program
		Engaging customers and managing customer relationships
			Customer relationship management
			Engaging customers
			Consumer-generated marketing
			Partner relationship management
		Capturing value from customers
			Creating customer loyalty and retention
			Growing share of customer
			Building customer equity
			Building the right relationship with the right customers
		The changing marketing landscape
			The digital age: Online, mobile and social media marketing
			The challenging world economy
			Measuring marketing’s contribution to organisational performance
			Marketing in action 1.1 Are marketers really that ‘lousy at selling marketing’?
			The growth of not-for-profit marketing
			Rapid globalisation
			Sustainable marketing: The call for more environmental and social responsibility
		So, what is marketing? Pulling it all together
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				1.1 Digital technologies in marketing
				1.2 Customer-driven marketing strategy
				1.3 Marketing analytics at work
				1.4 Ethical reflection
			References
	Chapter 2 Company and marketing strategy: Partnering to build customer engagement, value and relationships
		Learning objectives
		Concept map
		Company-wide strategic planning: Defining marketing’s role
			Defining a market-oriented mission
			Setting company objectives and goals
			Marketing in action 2.1 Strategic planning involves having the right people
		Designing the business portfolio
			Analysing the current business portfolio
			Developing strategies for growth and downsizing
		Planning marketing: Partnering to build customer relationships
			Partnering with other company departments
			Partnering with others in the marketing system
		Marketing strategy and the marketing mix
			Customer value-driven marketing strategy
			Developing an integrated marketing mix
		Managing the marketing effort
			Marketing analysis
			Marketing planning
			Marketing implementation
			Marketing department organisation
			Marketing control
		Measuring and managing return on marketing investment
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				2.1 Marketing strategy
				2.2 Customer focus
				2.3 Marketing analytics at work
				2.4 Ethical reflection
			References
Part 2 Understanding the marketplace and consumers
	Chapter 3 The marketplace and customers: Analysing the environment
		Learning objectives
		Concept map
		The marketing environment
		The company’s microenvironment
			The company
			Suppliers
			Marketing intermediaries
			Competitors
			Publics
			Customers
		The company’s macroenvironment
			Demographic environment
			Economic environment
			Natural environment
			Technological environment
			Political and social environment
			Marketing in action 3.1 The quite real virtual experience
			Cultural environment
		Responding to the marketing environment
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				3.1 Microeconomic environment
				3.2 Technological environment
				3.3 Marketing analytics at work
				3.4 Ethical reflection
			References
	Chapter 4 Marketing analytics: Gaining customer insights
		Learning objectives
		Concept map
		Marketing information and customer insights
			Marketing information and today’s ‘big data’
			Marketing analytics
			Managing marketing information
			Marketing in action 4.1 Netflix streams success with big data and marketing analytics
		Assessing marketing information needs
		Developing marketing information
			Internal data
			Competitive marketing intelligence
		Marketing research
			Defining the problem and research objectives
			Developing the research plan
			Primary data collection
			Implementing the research plan
			Interpreting and reporting the findings
		Analysing and using marketing information
			Customer relationship management
			Distributing and using marketing information
		Other marketing information considerations
			Marketing research in small businesses and not-for-profit organisations
			International marketing research
			Public policy and ethics in marketing research
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				4.1 Gathering data
				4.2 Customer insights
				4.3 Marketing analytics at work
				4.4 Ethical reflection
			References
	Chapter 5 Buyer behaviour: Understanding consumer and business buyers
		Learning objectives
		Concept map
		Consumer markets and consumer buyer behaviour
			Model of consumer behaviour
			Characteristics affecting consumer behaviour
			Marketing in action 5.1 Consumer behaviour: A whole life story
		The buyer decision process
			Stages in the buyer decision process
		The buyer decision process for new products
			Stages in the adoption process
			Individual differences in innovativeness
			Influence of product characteristics on rate of adoption
		Business markets and business buyer behaviour
			Business markets
			Business buyer behaviour
		The business buying process
		E-procurement: Buying on the internet
		Business-to-business digital and social media marketing
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				5.1 Consumer behaviour
				5.2 Business buyer behaviour
				5.3 Marketing analytics at work
				5.4 Ethical reflection
			References
Part 3 Designing a customer-driven strategy and mix
	Chapter 6 Customer-driven marketing strategy: Creating value for target customers
		Learning objectives
		Concept map
		Customer-driven marketing strategy
		Market segmentation
			Segmenting consumer markets
			Marketing in action 6.1 ALDI: Offering a ‘same-for-less’ value proposition
			Segmenting business markets
			Segmenting international markets
			Requirements for effective segmentation
		Market targeting
			Evaluating market segments
			Selecting target market segments
			Socially responsible target marketing
		Differentiation and positioning
			Positioning maps
			Choosing a differentiation and positioning strategy
			Communicating and delivering the chosen position
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				6.1 Target marketing
				6.2 Differentiation
				6.3 Marketing analytics at work
				6.4 Ethical reflection
			References
	Chapter 7 Products, services and brands: Offering customer value
		Learning objectives
		Concept map
		What is a product?
			Products, services and experiences
			Levels of products and services
			Product and service classifications
		Product and service decisions
			Individual product and service decisions
			Marketing in action 7.1 Headspace and the unsought product
			Product line decisions
			Product mix decisions
		Services marketing
			Nature and characteristics of a service
			Marketing strategies for service firms
			The service–profit chain
			Managing service differentiation
		Branding strategy: Building strong brands
			Brand equity
			Building strong brands
			Managing brands
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				7.1 Industrial products
				7.2 Packaging
				7.3 Marketing analytics at work
				7.4 Ethical reflection
			References
	Chapter 8 New products: Developing and managing innovation
		Learning objectives
		Concept map
		New-product development strategy
		The new-product development process
			Idea generation
			Idea screening
			Concept development and testing
			Marketing strategy development
			Business analysis
			Product development
			Test marketing
			Commercialisation
		Managing new-product development
			Customer-centred new-product development
			Team-based new-product development
			Systematic new-product development
		Product life-cycle strategies
			Marketing in action 8.1 Mattel: Managing the fun and games
			Introduction stage
			Growth stage
			Maturity stage
			Decline stage
		Additional product and service considerations
			Product decisions and social responsibility
			International product and services marketing
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				8.1 Innovation
				8.2 New-product development
				8.3 Marketing analytics at work
				8.4 Ethical reflection
			References
	Chapter 9 Pricing: Capturing customer value
		Learning objectives
		Concept map
		What is a price?
		Major pricing strategies
			Customer value-based pricing
			Cost-based pricing
			Competition-based pricing
		Other internal and external considerations affecting price decisions
			Overall marketing strategy, objectives and mix
			Organisational considerations
			The market and demand
			The economy
			Other external factors
		New-product pricing strategies
			Market-skimming pricing
			Market-penetration pricing
		Product-mix pricing strategies
			Product-line pricing
			Optional-product pricing
			Captive-product pricing
			By-product pricing
			Product-bundle pricing
		Price-adjustment strategies
			Discount and allowance pricing
			Segmented pricing
			Psychological pricing
			Marketing in action 9.1 Pricing cues are customer clues
			Promotional pricing
			Geographical pricing
			Dynamic and online pricing
			International pricing
		Price changes
			Initiating price changes
			Responding to price changes
		Public policy and pricing
			Pricing within channel levels
			Pricing across channel levels
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				9.1 Online price tracking
				9.2 Rebates under the microscope
				9.3 Marketing analytics at work
				9.4 Ethical reflection
			References
	Chapter 10 Placement: Customer value fulfilment
		Learning objectives
		Concept map
		Supply chains and the value delivery network
			Supply chain goals
			Major supply chain functions
		The nature of marketing channels and value creation
			How marketing channels add value
			Number of channel levels
			Channels in the service sector
		Channel behaviour and organisation
			Channel behaviour
			Channel organisation
			Marketing in action 10.1 Multichannel services marketing
		Channel design and management decisions
			Analysing consumer needs
			Setting channel objectives
			Identifying major channel alternatives
			Evaluating the major alternatives
			Channel management decisions
		Retailing
			Retailing: Connecting brands with consumers
			Types of retailers
			Retailer marketing decisions
		Wholesaling
			Types of wholesalers
			Wholesaler marketing decisions
			Wholesaling trends and developments
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				10.1 Corporate VMN
				10.2 Multichannel distribution networks
				10.3 Marketing analytics at work
				10.4 Ethical reflection
			References
	Chapter 11 Communicating customer value: Advertising and public relations
		Learning objectives
		Concept map
		The promotion mix
		Integrated marketing communications
			The new marketing communications model
			The need for integrated marketing communications
			Marketing in action 11.1 It’s content marketing, not advertising
		Shaping the overall promotion mix
			The nature of each promotion tool
			Promotion mix strategies
		Advertising
			Setting advertising objectives
			Setting the advertising budget
			Developing advertising strategy
			Evaluating advertising effectiveness and return on advertising investment
			Other advertising considerations
		Public relations
			The role and impact of public relations
			The main public relations tools
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				11.1 Integrated marketing communication
				11.2 Public relations
				11.3 Marketing analytics at work
				11.4 Ethical reflection
			References
	Chapter 12 Personal selling and sales promotion: Creating value in relationships
		Learning objectives
		Concept map
		Personal selling
			The nature of personal selling
			The role of the salesforce
		Managing the salesforce
			Designing salesforce strategy and structure
			Recruiting and selecting salespeople
			Training salespeople
			Compensating salespeople
			Supervising and motivating salespeople
			Evaluating salespeople and salesforce performance
		The personal selling process
			Marketing in action 12.1 Social selling: Who needs salespeople?
			Steps in the selling process
			Personal selling and managing customer relationships
		Sales promotion
			Rapid growth of sales promotion
			Sales promotion objectives
			Major sales promotion tools
			Developing the sales promotion program
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				12.1 Supervising salespeople
				12.2 Sales promotion
				12.3 Marketing analytics at work
				12.4 Ethical reflection
			References
	Chapter 13 Direct and digital marketing: Interactivity and fulfilment
		Learning objectives
		Concept map
		The direct and digital marketing model
			Direct and digital marketing
		Benefits of direct and digital marketing to buyers and sellers
		Direct marketing
			Direct print and reproduction
			Direct-response television and radio
			Telemarketing
			Kiosks and electronic dispensing
		Digital marketing
			Interacting in digital marketing
			Search-engine optimised websites
			Marketing in action 13.1 Search engine marketing: Three reasons why search engines exist
			Search engine marketing
			Online advertising
			Email
		Social media marketing
		Other forms of online interaction
		Interactivity
			Customer-to-customer interaction
			Customer-to-company interaction
		Fulfilment response
		Customer database use in direct and digital marketing
			Customer database defined
			Database use in direct and digital marketing
		Evaluating direct and digital marketing results
			Evaluating direct and digital marketing
			Evaluating online marketing
			Evaluating customer database performance
		Public policy issues in direct and digital marketing
			Irritation, unfairness, deception and fraud
			Privacy
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				13.1 Location-based marketing
				13.2 Direct and digital marketing
				13.3 Marketing analytics at work
				13.4 Ethical reflection
			References
Part 4 Extending marketing
	Chapter 14 Sustainable marketing: Social responsibility, ethics and legal compliance
		Learning objectives
		Concept map
		Sustainable marketing
		Social criticisms of marketing
			Marketing’s impact on individual customers
			Marketing’s impact on society as a whole
			Marketing’s impact on other businesses
		Consumer actions to promote sustainable marketing
			Consumerism
			Environmentalism
			Public actions to regulate marketing
		Business actions towards sustainable marketing
			Sustainable marketing principles
			Marketing in action 14.1 Peoples coffee: Making a difference, one cup at a time
		The role of ethics in marketing
			Marketing ethics
			The sustainable company
		Legal compliance in marketing
			Putting a compliance program in place
			Legal education
			Coverage of a legal compliance program
		Student learning centre
			Reviewing the learning objectives
			Discussion questions
			Critical thinking exercises
			Navigating the key terms
			Mini cases
				14.1 Consumerism
				14.2 Role of ethics in marketing
				14.3 Marketing analytics at work
				14.4 Ethical reflection
			References
Appendix 1 Case studies
Appendix 2 The marketing plan: An introduction
Appendix 3 Marketing analytics spotlights
Appendix 4 Careers in marketing
Glossary
Index