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Contents Guided tour A message from the authors Preface Acknowledgements About the authors Publisher acknowledgements Part 1 Defining marketing and the marketing process Chapter 1 Marketing: creating and capturing customer value Chapter preview Objective outline 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-driven marketing strategy Selecting customers to serve Choosing a value proposition Marketing management orientations Preparing an integrated marketing plan and program Building customer relationships Customer relationship management (CRM) The changing nature of customer relationships Partner relationship management Capturing value from customers Creating customer loyalty and retention Growing share of customer Building customer equity The changing marketing landscape The uncertain economic environment The digital age Rapid globalisation Sustainable marketing - the call for more social responsibility The growth of not-for-profit marketing So, what is marketing? Pulling it all together Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: References Company case: Pegasus Airlines: delighting a new type of travelling customer Chapter 2 Company and marketing strategy: partnering to build customer relationships Chapter preview Objective outline Company-wide strategic planning: defining marketings 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-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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Live Nation References Company case: Lego: one more brick in the wall? Part 2: Understanding the marketplace and consumers Chapter 3 Analysing the marketing environment Chapter preview Objective outline The microenvironment The company Suppliers Marketing intermediaries Competitors Publics Customers The macroenvironment The demographic environment The economic environment The natural environment The technological environment The political and social environment The cultural environment Responding to the marketing environment Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: TOMS shoes References Company case: The era of cheap chic for Primark Chapter 4 Managing marketing information to gain customer insights Chapter preview Objective outline Marketing information and customer insights 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 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Radian6 References Company case: Nestle, LOreal, Britvis, SABMiller: everybody wants to get close to their customers Chapter 5 Consumer markets and consumer buyer behaviour Chapter preview Objective outline 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 Postpurchase 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Radian6 References Company case: Porsche: guarding the old while bringing in the new Chapter 6 Business markets and business buyer behaviour Chapter preview Objective outline Business markets Market structure and demand Nature of the buying unit Types of decisions and the decision process Business buyer behaviour Major type of buying situations Participants in the business buying process Major influences on business buyers The business buying process E-procurement: buying on the Internet Institutional and government markets Institutional markets Government markets Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Eaton References Company case: Cisco Systems: solving business problems through collaboration Part 3: Designing a customer-driven strategy and mix Chapter 7 Customer-driven marketing strategy: creating value for target customers Chapter preview Objective outline 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Meredith References Company case: Starbucks: just who is the Starbucks customer? Chapter 8 Products, services and brands: building customer value Chapter preview Objective outline 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 Building strong brands Managing brands Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: General Mills - GoGurt References Company case: John Lewis: middle Englands retailer of choice Chapter 9 Developing new products and managing the product Chapter preview Objective outline 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 New-product development in turbulent times 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: General Mills - FiberOne References Company case: Reckitt Benckiser: building a brand powerhouse Chapter 10 Pricing strategies: understanding and capturing customer value Chapter preview Objective outline 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Ikea References Company case: Tesco: every little (pricing strategy) helps? Chapter 11 Additional pricing considerations Chapter preview Objective outline New product pricing Market-skimming pricing Market-penetration pricing Product mix pricing Product line pricing Optional product pricing Captive product pricing By-product pricing Product bundle pricing Price adjustments Discount and allowance pricing Segmented pricing Psychological pricing Promotional pricing Geographical pricing Dynamic pricing International pricing Price changes Initiating price changes Responding to price changes Public policy and marketing Pricing within channel levels Pricing across channel levels Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Land Rover References Company case: Radiohead: pricing strategy and the music industry Chapter 12 Marketing channels: delivering customer value Chapter preview Objective outline 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 Goals of the logistics system Major logistics functions Integrated logistics management Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Progressive References Company case: Netflix: disintermediator or disintermediated? Chapter 13 Retailing and wholesaling Chapter preview Objective outline Retailing Types of retailers Retailer marketing decisions Retailing trends and developments Wholesaling Types of wholesalers Wholesaler marketing decisions Trends in wholesaling Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Aappos.com References Company case: Auchen: maybe Walmart is not unbeatable after all? Chapter 14 Communicating customer value: integrated marketing communications strategy Chapter preview Objective outline 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 Choosing 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers References Company case: pepsi: can a soda really make the world a better place? Chapter 15 Advertising and public relations Chapter preview Objective outline 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 PR tools Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: E*trade References Company case: The mighty meercats: simples! 16 Personal selling and sales promotion Chapter preview Objective outline 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 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 program Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Nestle Waters References Company case: HP: overhauling a vast corporate sales force Chapter 17 Direct and online marketing: building direct customer relationships Chapter preview Objective outline The new direct-marketing model Growth and benefits of direct marketing Benefits to buyers Benefits to sellers Customer databases and direct marketing Forms of direct marketing Direct-mail marketing Catalogue marketing Telephone marketing Direct-response television marketing Kiosk marketing New digital direct-marketing technologies Online marketing Marketing and the Internet Online marketing domains Setting up an online marketing presence Public policy issues in direct marketing Irritation, unfairness, deception and fraud Invasion of privacy A need for action Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Zappos.com References Company case: Ocada - taking on the Internet giants direct Part 4: Extending marketing Chapter 18 Creating competitive advantage Chapter preview Objective outline 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Umpqua bank Company case: Amazons Kindle Fire versus Apples iPad: let battle commence! Chapter 19 The global marketplace Chapter preview Objective outline Global marketing today Looking at the global marketing environment The international trade system Economic environment Political-legal environment Cultural 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 program Product Promotion Price Distribution channels Deciding on the global marketing organisation Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Monster References Company case: Nokia: envisioning a connected world Chapter 20 Sustainable marketing: social responsibility and ethics Chapter preview Objective outline Sustainable marketing Social criticisms of marketing Marketings impact on individual consumers Marketings impact on society as a whole Marketings 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 Reviewing objectives and key terms Navigating the key terms Discussing & applying the concepts Discussing the concepts Applying the concepts Focus on technology Focus on ethics Marketing & the economy Marketing by the numbers Video case: Land Rover References Company case: international paper: combining industry and social responsibility Appendix 1: Marketing plan Appendix 2: Marketing by the numbers Glossary Index