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Copyright, iv
Preface, xvii
Part 1. The World of Marketing, 2
1. An Overview of Marketing, 4
What Is Marketing?, 6
Marketing Management Philosophies, 7
Production Orientation, 7
Sales Orientation, 7
Market Orientation, 8
Societal Marketing Orientation, 9
Differences between Sales and Market Orientations, 9
The Organization’s Focus, 9
The Firm’s Business, 12
Those to Whom the Product is Directed, 13
The Firm’s Primary Goal, 14
Tools the Organization Uses to Achieve Its Goals, 14
A Word of Caution, 15
Why Study Marketing, 15
Marketing Plays an Important Role in Society, 16
Marketing Is Important to Business, 16
Marketing Offers Outstanding Career Opportunities, 16
Marketing Affects Your Life Every Day, 16
Review and Applications, 17
Exercises, 18
Entrepreneurship Case, 19
Company Clips, 20
Biz Flix, 21
Careers in Marketing Appendix, 22
2. Strategic Planning for Competitive Advantage, 34
The Nature of Strategic Planning, 36
What Is a Marketing Plan?, 36
Writing the Marketing Plan, 37
Defining the Business Mission, 38
Setting Marketing Plan Objectives, 39
Conducting a Situation Analysis, 40
Competitive Advantage, 41
Cost Competitive Advantage, 41
Product/Service Differentiation Competitive Advantage, 42
Niche Competitive Advantage, 43
Building Sustainable Competitive Advantage, 43
Strategic Directions, 44
Strategic Alternatives, 44
Selecting a Strategic Alternative, 45
Describing the Target Market, 47
Target Market Strategy, 47
The Marketing Mix, 48
Product Strategies, 48
Place (Distribution) Strategies, 48
Promotion Strategies, 49
Pricing Strategies, 49
Following Up on the Marketing Plan, 49
Implementation, 49
Evaluation and Control, 50
Effective Strategic Planning, 51
Review and Applications, 52
Exercises, 55
Entrepreneurship Case, 56
Company Clips, 57
Biz Flix, 57
Marketing Plan Appendix, 58
3. Social Responsibility, Ethics, and the Marketing Environment, 66
Corporate Social Responsibility, 68
Ethical Behavior in Business, 69
Morality and Business Ethics, 70
Ethical Decision Making, 71
Ethical Guidelines, 71
The External Marketing Environment, 73
Understanding the External Environment, 73
Environmental Management, 74
Social Factors, 74
American Values, 74
The Growth of Component Lifestyles, 75
The Changing Role of Families and Working Women, 75
There Is Never Enough Time, 77
Demographic Factors, 77
Tweens, 77
Generation Y, 78
Generation X, 80
Baby Boomers—America’s Mass Market, 80
Americans on the Move, 82
Growing Ethnic Markets, 82
Marketing to Hispanic Americans, 83
Marketing to African Americans, 84
Marketing to Asian Americans, 84
Ethnic and Cultural Diversity, 85
Economic Factors, 86
Consumers’ Incomes, 86
Purchasing Power, 87
Inflation, 88
Recession, 88
Technological Factors, 89
Research, 89
Global Innovation, 90
RSS and Blogging, 90
Political and Legal Factors, 91
Federal Legislation, 91
State Laws, 92
Regulatory Agencies, 92
The Battle Over Consumer Privacy, 93
Competitive Factors, 95
Competition for Market Share and Profits, 95
Global Competition, 96
Review and Applications, 97
Exercises, 100
Entrepreneurship Case, 101
Company Clips, 102
Biz Flix, 103
4. Developing a Global Vision, 104
Rewards of Global Marketing, 106
Importance of Global Marketing to the United States, 107
The Fear of Trade and Globalization, 107
Benefits of Globalization, 108
Multinational Firms, 108
Global Marketing Standardization, 110
External Environment Facing Global Marketers, 111
Culture, 111
Economic and Technological Development, 112
Political Structure and Actions, 113
Demographic Makeup, 119
Natural Resources, 119
Global Marketing by the Individual Firm, 120
Exporting, 120
Licensing and Franchising, 121
Contract Manufacturing, 123
Joint Venture, 124
Direct Investment, 124
The Global Marketing Mix, 125
Product and Promotion, 126
Place (Distribution), 129
Pricing, 131
The Impact of the Internet, 132
Review and Applications, 133
Exercises, 136
Entrepreneurship Case, 136
Company Clips, 137
Biz Flix, 138
Part 1 Closing Cases, 140
Part 2. Analyzing Marketing Opportunities, 142
5. Consumer Decision Making, 144
The Importance of Understanding Consumer Behavior, 146
The Consumer Decision-Making Process, 146
Need Recognition, 146
Information Search, 148
Evaluation of Alternatives and Purchase, 150
Postpurchase Behavior, 151
Types of Consumer Buying Decisions and Consumer Involvement, 152
Factors Determining the Level of Consumer Involvement, 153
Marketing Implications of Involvement, 154
Factors Influencing Consumer Buying Decisions, 155
Cultural Influences on Consumer Buying Decisions, 156
Culture and Values, 156
Understanding Culture Differences, 159
Subculture, 159
Social class, 160
Social Influences on Consumer Buying Decisions, 162
Reference Groups, 163
Opinion Leaders, 165
Family, 166
Individual Influences on Consumer Buying Decisions, 167
Gender, 167
Age and Family Life-Cycle Stage, 168
Personality, Self-Concept, and Lifestyle, 169
Psychological Influences on Consumer Buying Decisions, 171
Perception, 171
Motivation, 173
Learning, 175
Beliefs and Attitudes, 176
Review and Applications, 178
Exercises, 181
Entrepreneurship Case, 182
Company Clips, 183
Biz Flix, 183
6. Business Marketing, 184
What Is Business Marketing?, 186
Business Marketing on the Internet, 186
Measuring Online Success, 187
Trends in B2B Internet Marketing, 187
Relationship Marketing and Strategic Alliances, 188
Strategic Alliances, 189
Relationships in Other Cultures, 190
Major Categories of Business Customers, 191
Producers, 191
Resellers, 191
Governments, 191
Institutions, 192
The North American Industry Classification System, 193
Business versus Consumer Markets, 194
Demand, 194
Purchase Volume, 195
Number of Customers, 195
Location of Buyers, 196
Distribution Structure, 196
Nature of Buying, 196
Nature of Buying Influence, 196
Type of Negotiations, 196
Use of Reciprocity, 197
Use of Leasing, 197
Primary Promotional Method, 197
Types of Business Products, 197
Major Equipment, 197
Accessory Equipment, 198
Raw Materials, 198
Component Parts, 198
Processed Materials, 199
Supplies, 199
Business Services, 199
Business Buying Behavior, 200
Buying Centers, 200
Evaluative Criteria, 201
Buying Situations, 201
Business Ethics, 202
Customer Service, 203
Review and Applications, 204
Exercises, 207
Entrepreneurship Case, 208
Company Clips, 209
Biz Flix, 209
7. Segmenting and Targeting Markets, 210
Market Segmentation, 212
The Importance of Market Segmentation, 212
Criteria for Successful Segmentation, 213
Bases for Segmenting Consumer Markets, 214
Geographic Segmentation, 214
Demographic Segmentation, 215
Psychographic Segmentation, 221
Benefit Segmentation, 222
Usage-Rate Segmentation, 223
Bases for Segmenting Business Markets, 223
Company Characteristics, 223
Buying Processes, 224
Steps in Segmenting a Market, 224
Strategies for Selecting Target Markets, 226
Undifferentiated Targeting, 226
Concentrated Targeting, 227
Multisegment Targeting, 228
One-to-One Marketing, 230
Positioning, 231
Perceptual Mapping, 232
Positioning Bases, 233
Repositioning, 234
Review and Applications, 235
Exercises, 238
Entrepreneurship Case, 239
Company Clips, 240
Biz Flix, 240
8. Decision Support Systems and Marketing Research, 242
Marketing Decision Support Systems, 244
The Role of Marketing Research, 245
Management Uses of Marketing Research, 246
Steps in a Marketing Research Project, 248
Secondary Data, 249
The New Age of Secondary Information: The Internet, 250
Planning the Research Design and Gathering Primary Data, 251
Specifying the Sampling Procedures, 258
Collecting the Data, 260
Analyzing the Data, 260
Preparing and Presenting the Report, 261
Following Up, 262
The Profound Impact of the Internet on Marketing Research, 262
Advantages of Internet Surveys, 262
Uses of the Internet by Marketing Researchers, 263
Scanner-Based Research, 268
When Should Marketing Research Be Conducted?, 268
Competitive Intelligence, 269
Sources of Competitive Intelligence, 270
Review and Applications, 271
Exercises, 274
Entrepreneurship Case, 275
Company Clips, 276
Biz Flix, 277
Part 2 Closing Cases, 278
Part 3. Product Decisions, 280
9. Product Concepts, 282
What Is a Product?, 284
Types of Consumer Products, 284
Convenience Products, 284
Shopping Products, 285
Specialty Products, 285
Unsought Products, 286
Product Items, Lines, and Mixes, 286
Adjustments to Product Items, Lines, and Mixes, 287
Branding, 290
Benefits of Branding, 290
Branding Strategies, 290
Trademarks, 294
Packaging, 295
Packaging Functions, 295
Labeling, 297
Universal Product Codes, 297
Global Issues in Branding and Packaging, 298
Branding, 298
Packaging, 298
Product Warranties, 299
Review and Applications, 299
Exercises, 302
Entrepreneurship Case, 302
Company Clips, 303
Biz Flix, 304
10. Developing and Managing Products, 306
The Importance of New Products, 308
Categories of New Products, 308
The New-Product Development Process, 309
New-Product Strategy, 310
Idea Generation, 310
Idea Screening, 312
Business Analysis, 313
Development, 313
Test Marketing, 314
Commercialization, 317
Why Some Products Succeed and Others Fail, 317
Global Issues in New-Product Development, 318
The Spread of New Products, 319
Diffusion of Innovation, 319
Product Characteristics and the Rate of Adoption, 320
Marketing Implications of the Adoption Process, 321
Product Life Cycles, 322
Introductory Stage, 323
Growth Stage, 324
Maturity Stage, 324
Decline Stage, 325
Implications for Marketing Management, 325
Review and Applications, 326
Exercises, 328
Entrepreneurship Case, 329
Company Clips, 330
Biz Flix, 330
11. Services and Nonprofit Organization Marketing, 332
The Importance of Services, 334
How Services Differ from Goods, 334
Intangibility, 334
Inseparability, 335
Heterogeneity, 335
Perishability, 336
Service Quality, 336
The Gap Model of Service Quality, 337
Marketing Mixes for Services, 338
Product (Service) Strategy, 338
Place (Distribution) Strategy, 340
Promotion Strategy, 341
Price Strategy, 342
Relationship Marketing in Services, 344
Internal Marketing in Service Firms, 345
Global Issues in Services Marketing, 346
Nonprofit Organization Marketing, 346
What Is Nonprofit Organization Marketing?, 346
Unique Aspects of Nonprofit Organization Marketing Strategies, 347
Review and Applications, 350
Exercises, 353
Entrepreneurship Case, 353
Company Clips, 355
Biz Flix, 355
Part 3 Closing Cases, 356
Part 4. Distribution Decisions, 358
12. Marketing Channels and Supply Chain Management, 360
Marketing Channels, 362
Providing Specialization and Division of Labor, 362
Overcoming Discrepancies, 363
Providing Contact Efficiency, 363
Channel Intermediaries and Their Functions, 364
Channel Functions Performed by Intermediaries, 365
Channel Structures, 367
Channels for Consumer Products, 367
Channels for Business and Industrial Products, 368
Alternative Channel Arrangements, 369
Supply Chain Management, 371
Benefits of Supply Chain Management, 372
Making Channel Strategy Decisions, 373
Factors Affecting Channel Choice, 373
Levels of Distribution Intensity, 375
Exclusive Dostribution, 376
Managing Channel Relationships, 376
Channel Power, Control, and Leadership, 377
Channel Conflict, 377
Channel Partnering, 379
Managing the Logistical Components of the Supply Chain, 379
Sourcing and Procurement, 380
Production Scheduling, 380
Order Processing, 382
Inventory Control, 382
Warehousing and Materials-Handling, 383
Transportation, 384
Trends in Supply Chain Management, 386
Advanced Computer Technology, 386
Outsourcing Logistics Functions, 386
Electronic Distribution, 387
Channels and Distribution Decisions for Global Markets, 388
Developing Global Marketing Channels, 388
Global Logistics and Supply Chain Management, 389
Channels and Distribution Decisions for Services, 390
Review and Applications, 392
Exercises, 396
Entrepreneurship Case, 396
Company Clips, 398
Biz Flix, 398
13. Retailing, 400
The Role of Retailing, 402
Classification of Retail Operations, 403
Ownership, 403
Level of Service, 403
Product Assortment, 403
Price, 404
Major Types of Retail Operations, 404
Department Stores, 404
Specialty Stores, 405
Supermarkets, 405
Drugstores, 406
Convenience Stores, 407
Discount Stores, 407
Restaurants, 410
Nonstore Retailing, 411
Automatic Vending, 411
Direct Retailing, 411
Direct Marketing, 412
Electronic Retailing, 414
Franchising, 416
Retail Marketing Strategy, 418
Defining a Target Market, 418
Choosing the Retailing Mix, 419
New Developments in Retailing, 426
Interactivity, 426
M-Commerce, 427
Review and Applications, 428
Exercises, 430
Entrepreneurship Case, 431
Company Clips, 433
Biz Flix, 433
Part 4 Closing Cases, 434
Part 5. Promotion, 436
14. Integrated Marketing Communications, 438
The Role of Promotion in the Marketing Mix, 440
The Promotional Mix, 441
Advertising, 441
Public Relations, 441
Sales Promotion, 442
Personal Selling, 443
Marketing Communication, 445
The Communication Process, 445
The Communication Process and the Promotional Mix, 448
The Impact of Blogging on Marketing Communication, 448
The Goals and Tasks of Promotion, 450
Informing, 450
Persuading, 450
Reminding, 451
Promotional Goals and the AIDA Concept, 451
AIDA and The Promotional Mix, 453
Factors Affecting the Promotional Mix, 454
Nature of the Product, 455
Stage in the Product Life Cycle, 455
Target Market Characteristics, 456
Type of Buying Decision, 456
Available Funds, 457
Push and Pull Strategies, 457
Integrated Marketing Communications, 458
Review and Applications, 460
Exercises, 462
Entrepreneurship Case, 464
Company Clips, 465
Biz Flix, 465
15. Advertising and Public Relations, 466
The Effects of Advertising, 468
Advertising and Market Share, 468
The Effects of Advertising on Consumers, 469
Major Types of Advertising, 470
Institutional Advertising, 470
Product Advertising, 470
Creative Decisions in Advertising, 472
Identifying Product Benefits, 473
Developing and Evaluating Advertising Appeals, 474
Executing the Message, 475
Postcampaign Evaluation, 477
Media Decisions in Advertising, 478
Media Types, 479
Media Selection Considerations, 484
Media Scheduling, 486
Public Relations, 487
Major Public Relations Tools, 488
Managing Unfavorable Publicity, 491
Review and Applications, 492
Exercises, 494
Entrepreneurship Case, 495
Company Clips, 497
Biz Flix, 497
16. Sales Promotion and Personal Selling, 498
Sales Promotion, 500
The Objectives of Sales Promotion, 500
Tools for Consumer Sales Promotion, 501
Coupons and Rebates, 501
Premiums, 502
Loyalty Marketing Programs, 503
Contests and Sweepstakes, 504
Sampling, 505
Point-of-Purchase Promotion, 506
Online Sales Promotion, 506
Tools for Trade Sales Promotion, 507
Personal Selling, 509
Relationship Selling, 510
Steps in the Selling Process, 512
Generating Leads, 513
Qualifying Leads, 514
Approaching the Customer and Probing Needs, 515
Developing and Proposing Solutions, 516
Handling Objections, 517
Closing the Sale, 518
Following Up, 518
Sales Management, 519
Defining Sales Goals and the Sales Process, 520
Determining the Sales Force Structure, 520
Recruiting and Training the Sales Force, 521
Compensating and Motivating the Sales Force, 521
Evaluating the Sales Force, 522
The Impact of Technology on Personal Selling, 524
Review and Applications, 525
Exercises, 528
Entrepreneurship Case, 529
Company Clips, 530
Biz Flix, 530
Part 5 Closing Cases, 532
Part 6. Pricing Decisions, 534
17. Pricing Concepts, 536
The Importance of Price, 538
What is Price?, 538
The Importance of Price to Marketing Managers, 538
Pricing Objectives, 539
Profit-Oriented Pricing Objectives, 539
Sales-Oriented Pricing Objectives, 541
Status Quo Pricing Objectives, 542
The Demand Determinant of Price, 542
The Nature of Demand, 543
How Demand and Supply Establish Prices, 544
Elasticity of Demand, 544
The Power of Yield Management Systems, 547
The Cost Determinant of Price, 548
Markup Pricing, 550
Profit Maximization Pricing, 551
Break-Even Pricing, 551
Other Determinants of Price, 553
Stages in the Product Life Cycle, 553
The Competition, 554
Distribution Strategy, 555
The Impact of the Internet, 555
Promotion Strategy, 557
Demands of Large Customers, 557
The Relationship of Price to Quality, 558
Review and Applications, 559
Exercises, 561
Entrepreneurship Case, 563
Company Clips, 564
Biz Flix, 564
18. Setting the Right Price, 566
How to Set a Price on a Product or Service, 568
Establish Pricing Goals, 568
Estimate Demand, Costs, and Profits, 568
Choose a Price Strategy, 569
The Legality and Ethics of Price Strategy, 572
Unfair Trade Practices, 572
Price Fixing, 572
Price Discrimination, 573
Predatory Pricing, 574
Tactics for Fine-Tuning the Base Price, 575
Discounts, Allowances, Rebates, and Value-Based Pricing, 575
Geographic Pricing, 577
Other Pricing Tactics, 579
Consumer Penalties, 583
Product Line Pricing, 584
Relationships Among Products, 584
Joint Costs, 585
Pricing during Difficult Economic Times, 586
Inflation, 586
Recession, 587
Review and Applications, 589
Exercises, 592
Entrepreneurship Case, 592
Company Clips, 594
Biz Flix, 594
Part 6 Closing Cases, 596
Part 7. Technology-Driven Marketing, 598
19. Consumer Relationship Management (CRM), 600
What Is Customer Relationship Management?, 602
The Customer Relationship Management Cycle, 602
Implementing a Customer Relationship Management System, 604
Identify Customer Relationships, 604
Understand Interactions of the Current Customer Base, 606
Capture Customer Data, 608
Store and Integrate Customer Data, 609
Identifying the Best Customers, 611
Data Mining, 611
Leverage Customer Information, 613
Campaign Management, 613
Retaining Loyal Customers, 614
Cross-Selling Other Products and Services, 614
Designing Targeted Marketing Communications, 615
Reinforcing Customer Purchase Decisions, 615
Inducing Product Trial by New Customers, 616
Increasing Effectiveness of Distribution Channel Marketing, 616
Improving Customer Service, 617
Privacy Concerns and CRM, 617
Review and Applications, 619
Exercises, 621
Entrepreneurship Case, 622
Company Clips, 623
Biz Flix, 623
Part 7 Closing Cases, 624
Glossary, 626
Endnotes, 638
Organizational Index, 653
Subject Index, 661

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