Marketing and Management: Defined, Explained and Applied

MARKETING AND MANAGEMENT: DEFINED, EXPLAINED AND APPLIED
Copyright
Brief contents
Contents
Session 1: Introduction to marketing and sustainable marketing
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
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: 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 sustainablemarketing
Sustainable marketing principles
Marketing in Action 2.1: 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
Mini cases
2.1 Consumerism
2.2 Role of ethics in marketing
2.3 Marketing analytics at work
2.4 Ethical reflection
References
Session 2: Understanding the marketplace and buyer behaviour
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
Marketing in Action 3.1: The quite real virtual experience
Political and social environment
Cultural environment
Responding to the marketing environment
Managing the marketing effort
Marketing analysis
Marketing planning
Marketing implementation
Marketing department organisation
Marketing control
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
3.1 Microeconomic environment
3.2 Technological environment
3.3 Marketing analytics at work
3.4 Ethical reflection
References
Chapter 4: 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 4.1: 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
Mini cases
4.1 Consumer behaviour
4.2 Business buyer behaviour
4.3 Marketing analytics at work
4.4 Ethical reflection
References
Session 3: Marketing analytics
Chapter 5: 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 5.1: 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
Customer database use in direct and digital marketing
Customer database defined
Database use in direct and digital marketing
Analysing and using marketing information
Customer relationship management
Distributing and using marketing information
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
5.1 Gathering data
5.2 Customer insights
5.3 Marketing analytics at work
5.4 Ethical reflection
References
Session 4: Products and services
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
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
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
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
7.1 Industrial products
7.2 Packaging
7.3 ??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
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
8.1 Innovation
8.2 New-product development
8.3 Marketing analytics at work
8.4 Ethical reflection
References
Session 5: Price and placement
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
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
Marketing in Action 9.1: Pricing cues are customer clues
Geographical pricing
Dynamic and online pricing
International pricing
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
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
Wholesaling
Types of wholesalers
Wholesaler marketing decisions
Wholesaling trends and developments
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
10.1 Corporate VMN
10.2 Multichannel distribution networks
10.3 Marketing analytics at work
10.4 Ethical reflection
References
Session 6: Integrated marketing communication
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
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
Mini cases
11.1 Integrated marketing communication
11.2 Public relations
11.3 Marketing analytics at work
11.4 Ethical reflection
References
Chapter 12: Salespeople 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
Marketing in Action 12.1: Social selling: Who needs salespeople?
Evaluating salespeople and salesforce performance
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
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
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Critical thinking exercises
Mini cases
13.1 Location-based marketing
13.2 Direct and digital marketing
13.3 Marketing analytics at work
13.4 Ethical reflection
References
Session 7: Managers, management and managerial sustainable responsibilities
Chapter 14: Managers and management
Learning objectives
Concept map
Who are managers, and where do they work?
What four characteristics do all organisations share?
How are managers different from non-managerial employees?
What titles do managers have?
What is management?
What do managers do?
What are the four management functions?
What are management roles?
What characteristics do managers need?
Is the manager’s job universal?
Why study management?
What factors are reshaping and redefining management?
Why are customers important to the manager’s job?
Why is innovation important to the manager’s job?
Why are ethics and social responsibility important to the manager’s job?
Why are social media tools important to the manager’s job?
Why is sustainability important to the manager’s job?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Becoming politically adept
Mini cases
14.1 Google: Building a better boss
14.2 Managing to create a better world
References
History Module: A brief history of management’s roots
Learning objectives
Early management (3000 BCE–1776)
Behavioural approach (late 1700s–1950s)
Classical approaches (1911–1947)
Quantitative approach (1940s–1950s)
Contemporary approaches (1960s–present)
Choosing between management approaches
References
Chapter 15: The managerial environment
Learning objectives
Concept map
What is the external environment of an organisation?
What is the general environment of an organisation?
What is the specific environment of an organisation?
How does the external environment affect managers?
What is organisational culture, and why is it important?
How does organisational culture affect managers?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Understanding Culture
Mini cases
15.1 Tragedy in fashion
15.2 Getting a boost
References
Ethics and Social Responsibility Module: Managing socially responsible and ethical behaviour
Learning objectives
How do organisations define their social responsibilities?
Should organisations be socially responsible?
How can managers identify the ethical thing to do?
Ethical perspectives
What factors influence ethical and unethical behaviour?
How can managers encourage ethical behaviour?
Codes of ethics
Ethical leadership
Ethics training
Formal protective mechanisms
References
Session 8: Managing the business
Chapter 16: Foundations of planning
Learning objectives
Concept map
What is planning, and why do managers need to plan?
Why should managers formally plan?
What are some criticisms of formal planning, and how should managers respond?
Does formal planning improve organisational performance?
What do managers need to know about strategic management?
What is strategic management?
Why is strategic management important?
What are the steps in the strategic management process?
What contemporary planning issues do managers face?
How can managers plan effectively in dynamic environments?
How can managers use environmental scanning?
How can managers use benchmarking?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Being a good goal setter
Mini cases
16.1 Less is more
16.2 Spy games
References
Chapter 17: Foundations of decision making
Learning objectives
Concept map
How do managers make decisions?
What defines a decision problem?
What is relevant in the decision-making process?
How does the decision maker weight the criteria and analyse alternatives?
What determines the best choice?
What happens in decision implementation?
What is the last step in the decision process?
What common errors are committed in the decision-making process?
How do groups make decisions?
What are the advantages and disadvantages of group decision making?
When are groups most effective?
How can you improve group decision making?
What contemporary decision-making issues do managers face?
How does national culture affect managers’ decision making?
Why are creativity and design thinking important in decision making?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Being a creative decision maker
Mini cases
17.1 Going greener
17.2 Dramatic decisions
References
Session 9: Managing the organisation and individual
Chapter 18: Organisational structure and design
Learning objectives
Concept map
What are the six key elements in organisational design?
What is work specialisation?
What is departmentalisation?
What are authority and responsibility?
What is span of control?
A question of ethics
How do centralisation and decentralisation differ?
What is formalisation?
How is a mechanistic organisation different from an organic organisation?
What are some common organisational designs?
What traditional organisational designs can managers use?
What contemporary organisational designs can managers use?
What are today’s organisational design challenges?
How do you keep employees connected?
How do you delegate effectively?
How do global differences affect organisational structure?
How do you build a learning organisation?
How can managers design efficient and effective flexible work arrangements?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Increasing your power
Mini cases
18.1 Structural renewal at the Australian Red Cross
18.2 Shortening the corporate ladder
References
Chapter 19: Foundations of individual behaviour
Learning objectives
Concept map
What are the focus and goals of organisational behaviour?
What is the focus of OB?
What are the goals of organisational behaviour?
What role do attitudes play in job performance?
What are the three components of an attitude?
What attitudes might employees hold?
Do individuals’ attitudes and behaviours need to be consistent?
What is cognitive dissonance theory?
How can an understanding of attitudes help managers be more effective?
What do managers need to know about personality?
How can we best describe personality?
Can personality traits predict practical work-related behaviours?
How do we match personalities and jobs?
Do personality attributes differ across cultures?
How can an understanding of personality help managers be more effective?
What is perception, and what factors influence it?
What influences perception?
How do managers judge employees?
How can an understanding of perception help managers be more effective?
How do learning theories explain behaviour?
What is operant conditioning?
What is social learning theory?
How can managers shape behaviour?
How can an understanding of learning help managers be more effective?
What contemporary OB issues do managers face?
How do generational differences affect the workplace?
How do ability, disability and mental health affect the workplace?
How do managers deal with bullying in the workplace?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Understanding employee emotions
Mini cases
19.1 Troubling texts
19.2 A fighting chance at a fair go
References
Session 10: Managing people
Chapter 20: Managing human resources
Learning objectives
Concept map
What is the human resource management process, and what influences it?
What is the legal environment of HRM?
How do managers identify and select competent employees?
What is employment planning?
How do managers reduce their workforce?
How do organisations recruit employees?
How do managers select job applicants?
How are employees provided with needed skills and knowledge?
How are new employees introduced to the organisation?
What is employee training?
How do organisations provide a safe working environment?
What contemporary HRM issues do managers face?
How can managers manage downsizing?
How can workforce diversity be managed?
What is sexual harassment?
What is career development?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Providing good feedback
Mini cases
20.1 Managing diversity at PwC
20.2 Producing CHAMPS at KFC
References
Chapter 21: Motivating and rewarding employees
Learning objectives
Concept map
What is motivation?
What do the early theories of motivation say?
What is Maslow’s hierarchy of needs theory?
What is McClelland’s three-needs theory?
What are McGregor’s Theory X and Theory Y?
What is Herzberg’s two-factor theory?
How do the contemporary theories explain motivation?
What is goal-setting theory?
How does job design influence motivation?
What is equity theory?
How does expectancy theory explain motivation?
How can we integrate contemporary motivation theories?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Being a good motivator
Mini cases
21.1 Battling bugs and vanquishing viruses
21.2 One for the money . . .
References
Session 11: Leading and managing groups
Chapter 22: Leadership and trust
Learning objectives
Concept map
Who are leaders, and what is leadership?
What do early leadership theories tell us about leadership?
What traits do leaders have?
What behaviours do leaders exhibit?
What do the contingency theories of leadership tell us?
What was the first comprehensive contingency model?
How do followers’ willingness and ability influence leaders?
How participative should a leader be?
How do leaders help followers?
What is leadership like today?
What do the four contemporary views of leadership tell us?
What issues do today’s leaders face?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Being a good leader
Mini cases
22.1 Gearing up and reaching out
22.2 Top-down leadership
References
Chapter 23: Understanding groups and managing work teams
Learning objectives
Concept map
What is a group, and what stages of development do groups go through?
What is a group?
What are the stages of group development?
What are the main concepts of group behaviour?
What are roles?
How do norms and conformity affect group behaviour?
What is status, and why is it important?
Does group size affect group behaviour?
Are cohesive groups more effective?
How are groups turned into effective teams?
Are work groups and work teams the same thing?
What are the different types of work teams?
What makes a team effective?
How can a manager shape team behaviour?
What current issues do managers face in managing teams?
What’s involved with managing global teams?
When are teams not the answer?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Understanding how teams work
Mini cases
23.1 Working together anywhere, anytime
23.2 Intel inside . . . and far away
References
Session 12: Control and change management
Chapter 24: Foundations of control
Learning objectives
Concept map
What is control, and why is it important?
What is control?
Why is control important?
What takes place as managers control?
What is ‘measuring’?
How do managers compare actual performance to planned goals?
What managerial action can be taken?
What should managers control?
When does control take place?
In what areas might managers need controls?
What contemporary control issues do managers confront?
Using feedback to control employee performance
Do controls need to be adjusted for cultural differences?
What challenges do managers face in controlling the workplace?
Controlling workplace conflict
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Discipleining difficult employees
Mini cases
24.1 In the can
24.2 Driving better decisions
References
Chapter 25: Managing change and innovation
Learning objectives
Concept map
How can managers encourage innovation in an organisation?
How are creativity and innovation related?
How can organisations stimulate creativity?
What’s involved in turning creativity into innovation?
How can a manager foster innovation?
How does design thinking influence innovation?
What is change, and how do managers deal with it?
Why do organisations need to change?
Who initiates organisational change?
How does organisational change happen?
Reasons why change fails
What are some techniques for overcoming barriers to organisational change?
What reaction do employees have to organisational change?
What is stress?
What are the symptoms of stress?
What causes stress?
How can stress be reduced?
Student Learning Centre: Reviewing the learning objectives
Discussion questions
Management Skill Builder | Stress management
Mini cases
25.1 Turning Coles around
25.2 Saving mates
References
Entrepreneurship Module: Managing entrepreneurial ventures
Learning objectives
Who engages in entrepreneurship?
Who’s starting entrepreneurial ventures?
What do entrepreneurs do?
What planning do entrepreneurs need to do?
What’s in a full business plan?
What issues are involved in organising an entrepreneurial venture?
What are the legal forms of organisation for entrepreneurial ventures?
What type of organisational structure should entrepreneurial ventures use?
What human resource management (HRM) issues do entrepreneurs face?
What issues do entrepreneurs face in leading an entrepreneurial venture?
How can entrepreneurs motivate employees?
How can entrepreneurs be leaders?
What controlling issues do entrepreneurs face?
How is growth managed?
How are downturns managed?
What’s involved with exiting the venture?
Why is it important to think about managing personal challenges as an entrepreneur?
References
Appendix 1: Case studies
Appendix 2: The marketing plan: An introduction
Appendix 3: Marketing analytics spotlights
Appendix 4: Careers in marketing
Glossary
Index