Principles of marketing

Front Cover
Half Title Page
Title Page
Copyright Page
Brief contents
Contents
Preface
About the authors
Acknowledgements
Part 1 Defining marketing and the marketing process
	1 Marketing: creating customer value and engagement
		Chapter preview
		Learning outcomes
		What is marketing?
			Marketing defined
			The marketing process
		Understanding the marketplace and customer needs
			Customer needs, wants and demands
			Market offerings – products, services and experiences
			Customer value and satisfaction
			Exchanges and relationships
			Markets
		Designing a customer value-driven marketing strategy and plan
			Selecting customers to serve
			Choosing a value proposition
			Marketing management orientations
		Preparing an integrated marketing plan and programme
		Building customer relationships
			Customer relationship management
			Partner relationship management
		Capturing value from customers
			Creating customer loyalty and retention
			Growing share of customer
			Building customer equity
		The changing marketing landscape
			The digital age: online, mobile and social media marketing
			Social media marketing
			Mobile marketing
		The changing economic environment
			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
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: The ALS Ice Bucket Challenge
			Marketing ethics: is Big Brother watching?
			Marketing by numbers: what's a customer worth?
		Video case: Eskimo Joe's
		References
		Company case: Argos: creating customer value amid change and turbulence
	2 Company and marketing strategy: partnering to build customer engagement, value and relationships
		Chapter preview
		Learning outcomes
		Company-wide strategic planning: defining marketing's role
			Defining a market-oriented mission
			Setting company objectives and goals
			Designing the business portfolio
		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 marketing return on investment
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: Google's (Alphabet's) mission
			Marketing ethics: creating value ordistracting consumers?
			Marketing by numbers: profitability
		Video case: Konica
		References
		Company case: LEGO: one more brick in the wall?
Part 2 Understanding the marketplace and consumers
	3 Analysing the marketing environment
		Chapter preview
		Learning outcomes
		The microenvironment
			The company
			Suppliers
			Marketing intermediaries
			Competitors
			Publics
			Customers
		The macroenvironment
			The demographic environment
			Geographic shifts in population
			The economic environment
			The natural environment
			The technological environment
			The political and social environment
			The cultural environment
		Responding to the marketing environment
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: sharing economy
			Marketing ethics: how young is too young?
			Marketing by numbers: tiny markets
		References
		Company case: Fitbit: riding the fitness wave to glory
	4 Managing marketing information to gain customerinsights
		Chapter preview
		Learning outcomes
		Marketing information and customer insights
			Marketing information and today's 'big data'
			Managing marketing information
		Assessing marketing information needs
		Developing marketing information
			Internal data
			Competitive marketing intelligence
		Marketing research
			Defining the problem and research objectives
			Developing the research plan
			Gathering secondary data
			Primary data collection
			Implementing the research plan
			Interpreting and reporting the findings
		Analysing and using marketing information
			Customer relationship management (CRM)
			Big data and marketing analytics
			Distributing and using marketing information
		Other marketing information considerations
			Marketing research in small businesses and non-profit organisations
			International marketing research
			Public policy and ethics in marketing research
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: the trail you leave behind
			Marketing ethics: metadata
			Marketing by numbers: the value of information
		Video case: Nielsen
		References
		Company case: Holland & Barrett: choosing the good life! by Dr Eleri Rosier, Cardiff University
	5 Consumer markets and buyer behaviour
		Chapter preview
		Learning outcomes
		Model of consumer behaviour
		Characteristics affecting consumer behaviour
			Cultural factors
			Social factors
			Personal factors
			Psychological factors
		Types of buying decision behaviour
			Complex buying behaviour
			Dissonance-reducing buying behaviour
			Habitual buying behaviour
			Variety-seeking buying behaviour
		The buyer decision process
			Need recognition
			Information search
			Evaluation of alternatives
			Purchase decision
			Post-purchase behaviour
		The buyer decision process for new products
			Stages in the adoption process
			Individual differences in innovativeness
			Influence of product characteristics on rate of adoption
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussion the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: digital influencer credibility
			Marketing ethics: ultimate water
			Marketing by numbers: evaluating alternatives
		Video case: IMG Worldwide
		References
		Company case: Porsche: guarding the old while bringing in the new
	6 Business markets and business buyer behaviour
		Chapter preview
		Learning outcomes
		Business markets
			Market structure and demand
			Nature of the buying unit
			Types of decisions and the decision process
		Business buyer behaviour
			Major types of buying situations
			Participants in the business buying process
			Major influences on business buyers
			The business buying process
		Engaging business buyers with digital and social marketing
			E-procurement and online purchasing
			Business-to-business digital and social media marketing
		Institutional and government markets
			Institutional markets
			Government markets
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
		Discussing the concepts
		Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: e-procurement and mobile procurement
			Marketing ethics: commercial bribery
			Marketing by numbers: salespeople
		Video case: Eaton
		References
		Company case: Procter & Gamble: treating business customers as strategic partners
Part 3 Designing a customer value-driven strategy and mix
	7 Customer-driven marketing strategy: creating value for target customers
		Chapter preview
		Learning outcomes
		Customer-driven marketing strategy
		Market segmentation
			Segmenting consumer markets
			Segmenting business markets
			Segmenting international markets
			Requirements for effective segmentation
		Market targeting
			Evaluating market segments
			Selecting target market segments
		Differentiation and positioning
			Positioning maps
			Choosing a differentiation and positioning strategy
			Communicating and delivering the chosen position
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: get your Groupon
			Marketing ethics: unrealistic bodies
			Marketing by numbers: USAA
		References
		Company case: Volvo cars
	8 Products, services and brands: building customer value
		Chapter preview
		Learning outcomes
		What is a product?
			Products, services and experiences
			Levels of product and services
			Product and service classifications
		Product and service decisions
			Individual product and service decisions
			Product line decisions
			Product mix decisions
		Services marketing
			The nature and characteristics of a service
			Marketing strategies for service firms
		Branding strategy: building strong brands
			Brand equity and brand value
			Building strong brands
			Managing brands
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: feeding pets from your smartphone
			Marketing ethics: geographical indication
			Marketing by numbers: Pop-Tarts Gone Nutty!
		References
		Company case: Telenor Health and Tonic digital health services by Ilma Nur Chowdhury, Alliance Manchester Business School, The University of Manchester
	9 Developing new products and managing the product life cycle
		Chapter preview
		Learning outcomes
		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
			Introduction stage
			Growth stage
			Maturity stage
			Decline stage
		Additional product and service considerations
			Product decisions and social responsibility
			International product and services marketing
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: telemedicine
			Marketing ethics: put on your thinking caps!
			Marketing by numbers: dental house-calls
		References
		Company case: Dyson: reinventing continuously, by Yansong Hu, Warwick Business School
	10 Pricing: understanding and capturing customer value
		Chapter preview
		Learning outcomes
		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
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: online price tracking
			Marketing ethics: the cost of a life
			Marketing by numbers: reseller margins
		References
		Company case: Cath Kidston: nostalgic fantasy that creates value for consumers
	11 Pricing strategies: additional considerations
		Chapter preview
		Learning outcomes
		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
			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
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: extreme couponing
			Marketing ethics: airfare pricing
			Marketing by numbers: Louis Vuitton price increase
		References
		Company case: Dacia: the birth of a nifty little Carpathian warrior, by Dr Cristina Sambrook, Birmingham Business School
	12 Marketing channels: delivering customer value
		Chapter preview
		Learning outcomes
		Supply chains and the value delivery network
		The nature and importance of marketing channels
			How channel members add value
			Number of channel levels
		Channel behaviour and organisation
			Channel behaviour
			Vertical marketing systems
			Horizontal marketing systems
			Multi-channel distribution systems
			Changing channel organisation
		Channel design decisions
			Analysing consumer needs
			Setting channel objectives
			Identifying major alternatives
			Evaluating the major alternatives
			Designing international distribution channels
		Channel management decisions
			Selecting channel members
			Managing and motivating channel members
			Evaluating channel members
		Public policy and distribution decisions
		Marketing logistics and supply chain management
			Nature and importance of marketing logistics
			Sustainable supply chains
			Goals of the logistics system
			Major logistics functions
			Integrated logistics management
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: self-publishing
			Marketing ethics: supplier safety
			Marketing by numbers: Tyson expanding distribution
		Video case: Progressive
		References
		Company case: Thorntons: a journey to revitalise its brand
	13 Retailing and wholesaling
		Chapter preview
		Learning outcomes
		Retailing
			Connecting brands with consumers
			Types of retailers
			Retailer marketing decisions
			Retailing trends and developments
		Wholesaling
			Types of wholesalers
			Wholesaler marketing decisions
			Trends in wholesaling
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: skipping the checkout line
			Marketing ethics: marketplace fairness
			Marketing by numbers: stockturn rate
		References
		Company case: Lush: striving for the ultimate customer experience
	14 Engaging consumers and communicating customer value: integrated marketing communications strategy
		Chapter preview
		Learning outcomes
		The promotion mix
		Integrated marketing communications
			The new marketing communications model
			The need for integrated marketing communications
		A view of the communication process
		Steps in developing effective marketing communication
			Identifying the target audience
			Determining the communication objectives
			Designing a message
			Message content
			Choosing the communication channels and media
			Selecting the message source
			Collecting feedback
		Setting the total promotion budget and mix
			Setting the total promotion budget
			Shaping the overall promotion mix
			Integrating the promotion mix
		Socially responsible marketing communication
			Advertising and sales promotion
			Personal selling
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: #withoutshoes
			Marketing ethics: an ethical promotion?
			Marketing by numbers: advertising-to-sales ratios
		Video case: OXO
		References
		Company case: Marie Curie: understanding service user experiences, by Philippa Hunter-Jones, Lynn Sudbury-Riley and Ahmed Al-Abdin, University of Liverpool Management School, UK
	15 Advertising and public relations
		Chapter preview
		Learning outcomes
		Advertising
			Setting advertising objectives
			Setting the advertising budget
			Developing advertising strategy
			Evaluating advertising effectiveness and the return on advertising investment
			Other advertising considerations
		Public relations
			The role and impact of PR
			Major public relations tools
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: Facebook audience network
			Marketing ethics: native advertising
			Marketing by numbers: C3, CPM and CPP
		References
		Company case: ASICS Advertising and PR in the era of social media, by Caterina Presi, Leeds University Business School
	16 Personal selling and sales promotion
		Chapter preview
		Learning outcomes
		Personal selling
			The nature of personal selling
			The role of the sales force
		Managing the sales force
			Designing the sales force strategy and structure
			Recruiting and selecting salespeople
			Training salespeople
			Compensating salespeople
			Supervising and motivating salespeople
			Evaluating salespeople and sales force performance
		Social selling: online, mobile and social media tools
		The personal selling process
			Steps in the selling process
			Personal selling and managing customer relationships
		Sales promotion
			The rapid growth of sales promotion
			Sales promotion objectives
			Major sales promotion tools
			Developing the sales promotion programme
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: snap it and redeem it!
			Marketing ethics: walking the customer
			Marketing by numbers: sales force analysis
		Video case: First Flavor
		References
		Company case: SunGard: building sustained growth by selling the SunGard way
	17 Direct, online, social media and mobile marketing
		Chapter preview
		Learning outcomes
		Direct and digital marketing
			The new direct marketing model
			Rapid growth of direct and digital marketing
			Benefits of direct and digital marketing to buyers and sellers
		Forms of direct and digital marketing
			Marketing, the internet and the digital age
			Online marketing
			Social media marketing
			Mobile marketing
		Traditional direct marketing forms
			Direct-mail marketing
			Catalogue marketing
			Telemarketing
			Direct-response television marketing
			Kiosk marketing
		Public policy issues in direct and digital marketing
			Irritation, unfairness, deception and fraud
			Consumer privacy
			A need for action
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: 'Buy' buttons
			Marketing ethics: #Fail
			Marketing by numbers: field sales versus telemarketing
		Video case: Nutrisystem
		References
		Company case: The ASOS experience, by Ewelina Lacka, University of Edinburgh Business School
Part 4 Extending marketing
	18 Creating competitive advantage
		Chapter preview
		Learning outcomes
		Competitor analysis
			Identifying competitors
			Assessing competitors
			Selecting competitors to attack and avoid
			Designing a competitive intelligence system
		Competitive strategies
			Approaches to marketing strategy
			Basic competitive strategies
			Competitive positions
			Market leader strategies
			Market challenger strategies
			Market follower strategies
			Market nicher strategies
		Balancing customer and competitor orientations
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: social logins
			Marketing ethics: creating competitive advantage... to what end?
			Marketing by numbers: market share
		Video case: Umpqua Bank
		References
		Company case: YouTube: Google's quest for video dominance
	19 The global marketplace
		Chapter preview
		Learning outcomes
		Global marketing today
		Elements of the global marketing environment
			The international trade system
			Economic environment
			Political-legal environment
		Deciding whether to go global
		Deciding which markets to enter
		Deciding how to enter the market
			Exporting
			Joint venturing
			Direct investment
		Deciding on the global marketing programme
			Product
			Promotion
			Price
			Distribution channels
		Deciding on the global marketing organisation
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: China's great firewall
			Marketing ethics: global safety standards
			Marketing by numbers: Netflix's global expansion
		Video case: Monster
		References
		Company case: Chang beer: Thainess in a bottle, by Angela Carroll, Leeds Business School
	20 Social responsibility and ethics
		Chapter preview
		Learning outcomes
		Sustainable marketing
		Social criticisms of marketing
			Marketing's impact on individual consumers
			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 toward sustainable marketing
			Sustainable marketing principles
		Marketing ethics
		The sustainable company
		Learning outcomes review
		Navigating the key terms
		Discussion and critical thinking
			Discussing the concepts
			Critical-thinking exercises
		Mini-cases and applications
			Online, mobile and social media marketing: teenagers and social media
			Marketing ethics: milking the international market
			Marketing by numbers: the cost of sustainability
		Video case: Honest Tea
		References
		Company case: Innocent Drinks: golden wind egg or red herring? by Guido Berens, Rotterdam School of Management
Appendix 1: Marketing plan
Appendix 2: Marketing by numbers
Glossary
Index
Back Cover