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Principles of Marketing 5 New Learning Tools, IFC-1
Copyright, iv
About the Authors, vii
Preface, xvi
Acknowledgments, xxi
Part 1. Defining Marketing and the Marketing Process, 2
Chapter 1. Marketing: Creating and Capturing Customer Value, 2
What Is Marketing?, 4
Marketing Defined, 5
The Marketing Process, 5
Understanding the Marketplace and Customer Needs, 6
Customer Needs, Wants, and Demands, 6
Market Offerings—Products, Services, and Experiences, 6
Customer Value and Satisfaction, 7
Exchanges and Relationships, 7
Markets, 7
Designing a Customer-Driven Marketing Strategy, 8
Selecting Customers to Serve, 8
Choosing a Value Proposition, 9
Marketing Management Orientations, 9
Preparing an Integrated Marketing Plan and Program, 12
Building Customer Relationships, 12
Customer Relationship Management, 13
The Changing Nature of Customer Relationships, 16
Partner Relationship Management, 19
Capturing Value from Customers, 21
Creating Customer Loyalty and Retention, 21
Growing Share of Customer, 22
Building Customer Equity, 23
The Changing Marketing Landscape, 25
The Digital Age, 25
Rapid Globalization, 26
The Call for More Ethics and Social Responsibility, 27
The Growth of Not-for-Profit Marketing, 28
So, What is Marketing? Pulling It All Together, 29
Reviewing Objectives and Key Terms, 30
Key Terms, 32
Discussing & Applying the Concepts, 32
Focus on Technology, 32
Focus on Ethics, 33
Marketing by the Numbers, 33
Video Case: Harley-Davidson, 33
Company Case: Build-A-Bear: Build-A-Memory, 34
Chapter 2. Company and Marketing Strategy: Partnering to Build Customer Relationships, 36
Companywide Strategic Planning: Defining Marketing’s Role, 38
Defining a Market-Oriented Mission, 39
Setting Company Objectives and Goals, 40
Designing the Business Portfolio, 41
Planning Marketing: Partnering to Build Customer Relationships, 46
Partnering with Other Company Departments, 46
Partnering with Others in the Marketing System, 47
Marketing Strategy and the Marketing Mix, 48
Customer-Driven Marketing Strategy, 48
Developing an Integrated Marketing Mix, 52
Managing the Marketing Effort, 53
Marketing Analysis, 53
Marketing Planning, 54
Marketing Implementation, 55
Marketing Department Organization, 56
Marketing Control, 57
Measuring and Managing Return on Marketing Investment, 57
Reviewing Objectives and Key Terms, 59
Key Terms, 60
Discussing & Applying the Concepts, 60
Focus on Technology, 61
Focus on Ethics, 61
Marketing by the Numbers, 61
Video Case: Live Nation, 62
Company Case: Trap-Ease America: The Big Cheese of Mousetraps, 62
Part 2. Understanding the Marketplace and Consumers, 64
Chapter 3. Analyzing the Marketing Environment, 64
The Company’s Microenvironment, 66
The Company, 67
Suppliers, 67
Marketing Intermediaries, 67
Competitors, 68
Publics, 69
Customers, 69
The Company’s Macroenvironment, 70
Demographic Environment, 70
Economic Environment, 79
Natural Environment, 81
Technological Environment, 82
Political and Social Environment, 84
Cultural Environment, 87
Responding to the Marketing Environment, 91
Reviewing Objectives and Key Terms, 93
Key Terms, 94
Discussing & Applying the Concepts, 94
Focus on Technology, 95
Focus on Ethics, 95
Marketing by the Numbers, 95
Video Case: TOMS Shoes, 95
Company Case: Prius: Leading a Wave of Hybrids, 96
Chapter 4. Managing Marketing Information to Gain Customer Insights, 98
Marketing Information and Customer Insights, 99
Assessing Marketing Information Needs, 102
Developing Marketing Information, 102
Internal Data, 102
Marketing Intelligence, 103
Marketing Research, 105
Defining the Problem and Research Objectives, 105
Developing the Research Plan, 106
Gathering Secondary Data, 107
Primary Data Collection, 109
Implementing the Research Plan, 119
Interpreting and Reporting the Findings, 119
Analyzing and Using Marketing Information, 120
Customer Relationship Management (CRM), 120
Distributing and Using Marketing Information, 122
Other Marketing Information Considerations, 122
Marketing Research in Small Businesses and Nonprofit Organizations, 122
International Marketing Research, 124
Public Policy and Ethics in Marketing Research, 125
Reviewing Objectives and Key Terms, 129
Key Terms, 130
Discussing & Applying the Concepts, 130
Focus on Technology, 130
Focus on Ethics, 131
Marketing by the Numbers, 131
Video Case: ZIBA, 131
Company Case: Enterprise Rent-A-Car: Measuring Service Quality, 132
Chapter 5. Consumer Markets and Consumer Buyer Behavior, 134
Model of Consumer Behavior, 136
Characteristics Affecting Consumer Behavior, 137
Cultural Factors, 137
Social Factors, 140
Personal Factors, 146
Psychological Factors, 148
Types of Buying Decision Behavior, 152
Complex Buying Behavior, 152
Dissonance-Reducing Buying Behavior, 152
Habitual Buying Behavior, 152
Variety-Seeking Buying Behavior, 153
The Buyer Decision Process, 153
Need Recognition, 154
Information Search, 154
Evaluation of Alternatives, 154
Purchase Decision, 155
Postpurchase Behavior, 155
The Buyer Decision Process for New Products, 157
Stages in the Adoption Process, 158
Individual Differences in Innovativeness, 158
Influence of Product Characteristics on Rate of Adoption, 159
Reviewing Objectives and Key Terms, 159
Key Terms, 160
Discussing & Applying the Concepts, 161
Focus on Technology, 161
Focus on Ethics, 162
Marketing by the Numbers, 162
Video Case: Wild Planet, 162
Company Case: Victoria’s Secret Pink: Keeping the Brand Hip, 163
Chapter 6. Business Markets and Business Buyer Behavior, 166
Business Markets, 168
Market Structure and Demand, 169
Nature of the Buying Unit, 170
Types of Decisions and the Decision Process, 170
Business Buyer Behavior, 172
Major Types of Buying Situations, 173
Participants in the Business Buying Process, 174
Major Influences on Business Buyers, 175
The Business Buying Process, 176
E-Procurement: Buying on the Internet, 180
Institutional and Government Markets, 181
Institutional Markets, 181
Government Markets, 182
Reviewing Objectives and Key Terms, 184
Key Terms, 185
Discussing & Applying the Concepts, 185
Focus on Technology, 186
Focus on Ethics, 186
Marketing by the Numbers, 186
Video Case: Eaton, 187
Company Case: Boeing: Selling a Dream(liner), 187
Part 3. Designing a Customer-Driven Marketing Strategy and Mix, 190
Chapter 7. Customer-Driven Marketing Strategy: Creating Value for Target Customers, 190
Market Segmentation, 192
Segmenting Consumer Markets, 192
Segmenting Business Markets, 198
Segmenting International Markets, 199
Requirements for Effective Segmentation, 200
Market Targeting, 201
Evaluating Market Segments, 201
Selecting Target Market Segments, 201
Socially Responsible Target Marketing, 208
Differentiation and Positioning, 209
Positioning Maps, 209
Choosing a Differentiation and Positioning Strategy, 210
Communicating and Delivering the Chosen Position, 217
Reviewing Objectives and Key Terms, 217
Key Terms, 218
Discussing & Applying the Concepts, 218
Focus on Technology, 219
Focus on Ethics, 219
Marketing by the Numbers, 219
Video Case: Meredith, 220
Company Case: Saturn: An Image Makeover, 220
Chapter 8. Products, Services, and Brands: Building Customer Value, 222
What Is a Product?, 224
Products, Services, and Experiences, 224
Levels of Product and Services, 225
Product and Service Classifications, 226
Product and Service Decisions, 229
Individual Product and Service Decisions, 229
Product Line Decisions, 234
Product Mix Decisions, 234
Branding Strategy: Building Strong Brands, 235
Brand Equity, 236
Building Strong Brands, 238
Managing Brands, 244
Services Marketing, 244
Nature and Characteristics of a Service, 244
Marketing Strategies for Service Firms, 246
Reviewing Objectives and Key Terms, 251
Key Terms, 252
Discussing & Applying the Concepts, 252
Focus on Technology, 253
Focus on Ethics, 253
Marketing by the Numbers, 253
Video Case: Swiss Army Brands, 254
Company Case: ESPN: The Evolution of an Entertainment Brand, 254
Chapter 9. New-Product Development and Product Life-Cycle Strategies, 256
New-Product Development Strategy, 258
The New-Product Development Process, 259
Idea Generation, 259
Idea Screening, 262
Concept Development and Testing, 262
Marketing Strategy Development, 263
Business Analysis, 264
Product Development, 264
Test Marketing, 265
Commercialization, 268
Managing New-Product Development, 268
Customer-Centered New-Product Development, 269
Team-Based New-Product Development, 269
Systematic New-Product Development, 271
Product Life-Cycle Strategies, 272
Introduction Stage, 276
Growth Stage, 276
Maturity Stage, 277
Decline Stage, 278
Additional Product and Service Considerations, 280
Product Decisions and Social Responsibility, 280
International Product and Services Marketing, 280
Reviewing Objectives and Key Terms, 282
Key Terms, 283
Discussing & Applying the Concepts, 283
Focus on Technology, 284
Focus on Ethics, 284
Marketing by the Numbers, 284
Video Case: Electrolux, 285
Company Case: Nintendo: Reviving a Company, Transforming a Market, 285
Chapter 10. Pricing: Understanding and Capturing Customer Value, 288
What Is a Price?, 290
Factors to Consider When Setting Prices, 291
Customer Perceptions of Value, 291
Company and Product Costs, 295
Other Internal and External Considerations Affecting Price Decisions, 299
Reviewing Objectives and Key Terms, 306
Key Terms, 307
Discussing & Applying the Concepts, 307
Focus on Technology, 307
Focus on Ethics, 307
Marketing by the Numbers, 308
Video Case: IKEA, 308
Company Case: Southwest Airlines: Staying Ahead in the Pricing Game, 308
Chapter 11. Pricing Strategies, 310
New-Product Pricing Strategies, 312
Market-Skimming Pricing, 312
Market-Penetration Pricing, 313
Product Mix Pricing Strategies, 313
Product Line Pricing, 313
Optional-Product Pricing, 314
Captive-Product Pricing, 314
By-Product Pricing, 315
Product Bundle Pricing, 315
Price-Adjustment Strategies, 315
Discount and Allowance Pricing, 315
Segmented Pricing, 316
Psychological Pricing, 317
Promotional Pricing, 320
Geographical Pricing, 320
Dynamic Pricing, 322
International Pricing, 323
Price Changes, 324
Initiating Price Changes, 324
Responding to Price Changes, 326
Public Policy and Pricing, 327
Pricing Within Channel Levels, 328
Pricing Across Channel Levels, 330
Reviewing Objectives and Key Terms, 331
Key Terms, 331
Discussing & Applying the Concepts, 332
Focus on Technology, 332
Focus on Ethics, 332
Marketing by the Numbers, 333
Video Case: General Electric, 333
Company Case: Payless ShoeSource: Paying Less for Fashion, 333
Chapter 12. Marketing Channels: Delivering Customer Value, 336
Supply Chains and the Value Delivery Network, 337
The Nature and Importance of Marketing Channels, 339
How Channel Members Add Value, 339
Number of Channel Levels, 341
Channel Behavior and Organization, 342
Channel Behavior, 342
Vertical Marketing Systems, 343
Horizontal Marketing Systems, 345
Multichannel Distribution Systems, 346
Changing Channel Organization, 347
Channel Design Decisions, 348
Analyzing Consumer Needs, 349
Setting Channel Objectives, 350
Identifying Major Alternatives, 350
Evaluating the Major Alternatives, 351
Designing International Distribution Channels, 352
Channel Management Decisions, 352
Selecting Channel Members, 352
Managing and Motivating Channel Members, 353
Evaluating Channel Members, 354
Public Policy and Distribution Decisions, 355
Marketing Logistics and Supply Chain Management, 356
Nature and Importance of Marketing Logistics, 356
Goals of the Logistics System, 357
Major Logistics Functions, 358
Integrated Logistics Management, 361
Reviewing Objectives and Key Terms, 363
Key Terms, 364
Discussing & Applying the Concepts, 364
Focus on Technology, 365
Focus on Ethics, 365
Marketing by the Numbers, 365
Video Case: Progressive, 366
Company Case: Zara: The Technology Giant of the Fashion World, 366
Chapter 13. Retailing and Wholesaling, 368
Retailing, 370
Types of Retailers, 370
Retailer Marketing Decisions, 378
The Future of Retailing, 384
Wholesaling, 389
Types of Wholesalers, 390
Wholesaler Marketing Decisions, 390
Trends in Wholesaling, 393
Reviewing Objectives and Key Terms, 395
Key Terms, 395
Discussing & Applying the Concepts, 396
Focus on Technology, 396
Focus on Ethics, 396
Marketing by the Numbers, 397
Video Case: Wellbeing, 397
Company Case: Whole Foods: A Whole-istic Strategy, 397
Chapter 14. Communicating Customer Value: Integrated Marketing Communications Strategy, 400
The Promotion Mix, 402
Integrated Marketing Communications, 403
The New Marketing Communications Landscape, 403
The Shifting Marketing Communications Model, 404
The Need for Integrated Marketing Communications, 405
A View of the Communication Process, 407
Steps in Developing Effective Marketing Communication, 409
Identifying the Target Audience, 409
Determining the Communication Objectives, 409
Designing a Message, 410
Choosing Media, 412
Selecting the Message Source, 414
Collecting Feedback, 414
Setting the Total Promotion Budget and Mix, 415
Setting the Total Promotion Budget, 415
Shaping the Overall Promotion Mix, 416
Integrating the Promotion Mix, 420
Socially Responsible Marketing Communication, 421
Advertising and Sales Promotion, 421
Personal Selling, 422
Reviewing Objectives and Key Terms, 422
Key Terms, 423
Discussing & Applying the Concepts, 423
Focus on Technology, 424
Focus on Ethics, 424
Marketing by the Numbers, 424
Video Case: Crispin Porter + Bogusky, 425
Company Case: Burger King: Promoting a Food Fight, 425
Chapter 15. Advertising and Public Relations, 428
Advertising, 430
Setting Advertising Objectives, 431
Setting the Advertising Budget, 432
Developing Advertising Strategy, 433
Evaluating Advertising Effectiveness and Return on Advertising Investment, 443
Other Advertising Considerations, 444
Public Relations, 448
The Role and Impact of Public Relations, 448
Major Public Relations Tools, 450
Reviewing Objectives and Key Terms, 451
Key Terms, 452
Discussing & Applying the Concepts, 452
Focus on Technology, 453
Focus on Ethics, 453
Marketing by the Numbers, 453
Video Case: E*TRADE, 454
Company Case: Coca-Cola: Another Advertising Hit, 454
Chapter 16. Personal Selling and Sales Promotion, 456
Personal Selling, 458
The Nature of Personal Selling, 458
The Role of the Sales Force, 459
Managing the Sales Force, 461
Designing Sales Force Strategy and Structure, 461
Recruiting and Selecting Salespeople, 466
Training Salespeople, 467
Compensating Salespeople, 468
Supervising and Motivating Salespeople, 469
Evaluating Salespeople and Sales Force Performance, 471
The Personal Selling Process, 472
Steps in the Selling Process, 472
Personal Selling and Managing Customer Relationships, 475
Sales Promotion, 475
Rapid Growth of Sales Promotion, 477
Sales Promotion Objectives, 478
Major Sales Promotion Tools, 479
Developing the Sales Promotion Program, 482
Reviewing Objectives and Key Terms, 483
Key Terms, 484
Discussing & Applying the Concepts, 484
Focus on Technology, 484
Focus on Ethics, 485
Marketing by the Numbers, 485
Video Case: The Principal Financial Group, 485
Company Case: Procter & Gamble: Selling Through Customer Business Development, 486
Chapter 17. Direct and Online Marketing: Building Direct Customer Relationships, 488
The New Direct Marketing Model, 490
Growth and Benefits of Direct Marketing, 491
Benefits to Buyers, 492
Benefits to Sellers, 492
Customer Databases and Direct Marketing, 493
Forms of Direct Marketing, 495
Direct-Mail Marketing, 495
Catalog Marketing, 496
Telephone Marketing, 497
Direct-Response Television Marketing, 499
Kiosk Marketing, 501
New Digital Direct Marketing Technologies, 501
Online Marketing, 504
Marketing and the Internet, 504
Online Marketing Domains, 505
Setting Up an Online Marketing Presence, 508
The Promise and Challenges of Online Marketing, 516
Public Policy Issues in Direct Marketing, 517
Irritation, Unfairness, Deception, and Fraud, 517
Invasion of Privacy, 518
A Need for Action, 519
Reviewing Objectives and Key Terms, 520
Key Terms, 521
Discussing & Applying the Concepts, 521
Focus on Technology, 521
Focus on Ethics, 522
Marketing by the Numbers, 522
Video Case: Google, 522
Company Case: StubHub: Ticket Scalping, a Respectable Endeavor?, 523
Part 4. Extending Marketing, 526
Chapter 18. Creating Competitive Advantage, 526
Competitor Analysis, 528
Identifying Competitors, 528
Assessing Competitors, 530
Selecting Competitors to Attack and Avoid, 531
Designing a Competitive Intelligence System, 534
Competitive Strategies, 534
Approaches to Marketing Strategy, 534
Basic Competitive Strategies, 536
Competitive Positions, 537
Market Leader Strategies, 539
Market Challenger Strategies, 542
Market Follower Strategies, 543
Market Nicher Strategies, 543
Balancing Customer and Competitor Orientations, 546
Reviewing Objectives and Key Terms, 547
Key Terms, 547
Discussing & Applying the Concepts, 547
Focus on Technology, 548
Focus on Ethics, 548
Marketing by the Numbers, 548
Video Case: Umpqua Bank, 549
Company Case: Bose: Competing by Being Truly Different, 549
Chapter 19. The Global Marketplace, 552
Global Marketing Today, 554
Looking at the Global Marketing Environment, 556
The International Trade System, 556
Economic Environment, 558
Political-Legal Environment, 559
Cultural Environment, 560
Deciding Whether to Go Global, 563
Deciding Which Markets to Enter, 564
Deciding How to Enter the Market, 566
Exporting, 566
Joint Venturing, 566
Direct Investment, 568
Deciding on the Global Marketing Program, 568
Product, 569
Promotion, 571
Price, 572
Distribution Channels, 574
Deciding on the Global Marketing Organization, 575
Reviewing Objectives and Key Terms, 576
Key Terms, 577
Discussing & Applying the Concepts, 577
Focus on Technology, 578
Focus on Ethics, 578
Marketing by the Numbers, 578
Video Case: Nivea, 579
Company Case: Nokia: Envisioning a Connected World, 579
Chapter 20. Sustainable Marketing: Social Responsibility and Ethics, 582
Sustainable Marketing, 584
Social Criticisms of Marketing, 586
Marketing’s Impact on Individual Consumers, 586
Marketing’s Impact on Society as a Whole, 591
Marketing’s Impact on Other Businesses, 594
Consumer Actions to Promote Sustainable Marketing, 595
Consumerism, 595
Environmentalism, 596
Public Actions to Regulate Marketing, 599
Business Actions Toward Sustainable Marketing, 602
Sustainable Marketing Principles, 602
Marketing Ethics, 605
The Sustainable Company, 608
Reviewing Objectives and Key Terms, 609
Key Terms, 610
Discussing & Applying the Concepts, 610
Focus on Technology, 610
Focus on Ethics, 611
Marketing by the Numbers, 611
Video Case: Land Rover, 611
Company Case: ExxonMobil: Social Responsibility in a Commodity Market, 612
Appendix 1. Marketing Plan, A1
Appendix 2. Marketing by the Numbers, A11
Appendix 3. Careers in Marketing, A29
References, R1
Glossary, G1
Credits, C1
Index, I1

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