Marketing Management, Global Edition

Cover
Title Page
Copyright
Dedication
Brief Contents
Contents
Preface
About the Authors
Part 1: Fundamentals of Marketing Management
Chapter 1. Defining Marketing for the New Realities
The Scope of Marketing
What Is Marketing?
What Is Marketed?
The Marketing Exchange
The New Marketing Realities
The Four Major Market Forces
The Three Key Marketing Outcomes
The Concept of Holistic Marketing
The Role of Marketing in the Organization
Organizing and Managing the Marketing Department
Organizing the Marketing Department
Managing the Marketing Department
Building a Customer-Oriented Organization
Marketing Insight The 10 Deadly Marketing Sins
Summary
Marketing Spotlight Nike
Marketing Spotlight Disney
Chapter 2. Marketing Planning and Management
Corporate and Business Unit Planning and Management
Defining the Corporate Mission
Building the Corporate Culture
Defining Strategic Business Units
Allocating Resources Across Business Units
Developing Market Offerings
Developing the Marketing Strategy
The Five Cs and the Five Forces of Competition
Designing the Marketing Tactics
The Seven Ts and the Four Ps
Creating a Market Value Map
Planning and Managing Market Offerings
The G-STIC Approach to Action Planning
Setting a Goal
Developing the Strategy
Designing the Tactics
Identifying Controls
Developing a Marketing Plan
Modifying the Marketing Plan
Updating the Marketing Plan
Conducting a Marketing Audit
Marketing Insight A Template for Writing a Marketing Plan
Summary
Marketing Spotlight Google
Marketing Spotlight Careem
Part 2: Understanding the Market
Chapter 3. Analyzing Consumer Markets
The Model of Consumer Behavior
Consumer Characteristics
Cultural Factors
Social Factors
Personal Factors
Consumer Psychology
Consumer Motivation
Perception
Emotions
Memory
The Buying Decision Process
Problem Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Postpurchase Behavior
Marketing Insight Behavioral Decision Theory
Summary
Marketing Spotlight Mayo Clinic
Marketing Spotlight Intuit
Chapter 4. Analyzing Business Markets
The Organizational Buying Process
Understanding Business Markets
Types of Buying Decisions
The Buying Center
The Composition of the Buying Center
The Role of the Buying Center in the Organization
Buying Center Dynamics
Selling to Buying Centers
Understanding the Buying Process
Problem Recognition
Need Description
Product Specification
Supplier Search
Proposal Solicitation
Supplier Selection
Contract Negotiation
Performance Review
Developing Effective Business Marketing Programs
Transitioning From Products to Solutions
Enhancing Services
Building Business-to-Business Brands
Overcoming Price Pressures
Managing Communication
Managing Business-to-Business Relationships
Understanding the Buyer–Supplier Relationship
Managing Corporate Trust, Credibility, and Reputation
Risks and Opportunism in Business Relationships
Managing Institutional Markets
Summary
Marketing Spotlight Alibaba
Marketing Spotlight Salesforce.com
Chapter 5. Conducting Marketing Research
The Scope of Marketing Research
Importance of Marketing Insights
Who Does Marketing Research?
The Marketing Research Process
Defining the Problem
Developing the Research Plan
Collecting the Information
Analyzing the Information and Making the Decision
Measuring Market Demand
Key Concepts in Demand Measurement
Forecasting Market Demand
Measuring Marketing Productivity
Marketing Metrics
Marketing-Mix Modeling
Marketing Dashboards
Marketing Insight Six Ways to Draw New Ideas from Your Customers
Summary
Marketing Spotlight Tesco
Marketing Spotlight LEGO
Part 3: Developing a Viable Market Strategy
Chapter 6. Identifying Market Segments and Target Customers
Identifying Target Customers
The Logic of Targeting
Strategic and Tactical Targeting
Strategic Targeting
Target Compatibility
Target Attractiveness
Tactical Targeting
Defining the Customer Profile
Aligning Customer Value and Customer Profile
Bringing Target Segments to Life with Personas
Single-Segment and Multi-Segment Targeting
Single-Segment Targeting
Targeting Multiple Segments
Segmenting Consumer Markets
Demographic Segmentation
Geographic Segmentation
Behavioral Segmentation
Psychographic Segmentation
Segmenting Business Markets
Marketing Insight Chasing the Long Tail
Summary
Marketing Spotlight Superdry
Marketing Spotlight Chase Sapphire
Chapter 7. Crafting a Customer Value Proposition and Positioning
Developing a Value Proposition and Positioning
Developing a Value Proposition
Developing a Positioning Strategy
Choosing a Frame of Reference
Identifying Potential Points of Difference and Points of Parity
Identifying Points of Difference
Identifying Points of Parity
Aligning the Frame of Reference, Points of Parity, and Points of Difference
Creating a Sustainable Competitive Advantage
Sustainable Competitive Advantage as a Marketing Concept
Strategies for Creating a Sustainable Competitive Advantage
Communicating the Offering’s Positioning
Crafting a Positioning Statement
Communicating Category Membership
Communicating Conflicting Benefits
Positioning as Storytelling
Marketing Insight Positioning a Start-Up
Summary
Marketing Spotlight Unilever: Axe and Dove
Marketing Spotlight First Direct
Part 4: Designing Value
Chapter 8. Designing and Managing Products
Product Differentiation
Product Design
Power of Design
Approaches to Design
Product Portfolios and Product Lines
Product Portfolio Design
Product Line Analysis
Product Line Length
Managing Packaging and Labeling
Packaging
Labeling
Managing Guarantees and Warranties
Marketing Insight When Less Is More
Summary
Marketing Spotlight Apple
Marketing Spotlight Casper
Marketing Spotlight Toyota
Chapter 9. Designing and Managing Services
The Nature of Services
The Service Aspect of an Offering
Distinctive Characteristics of Services
The New Services Realities
Increasing Role of Technology
Customer Empowerment
Customer Coproduction
Satisfying Employees as Well as Customers
Achieving Service Excellence
Best Practices of Top Service Companies
Differentiating Services
Innovation with Services
Managing Service Quality
Managing Customer Expectations
Managing Service Quality
Managing Self-Service
Managing Product–Service Bundles
Marketing Insight Improving Company Call Centers
Summary
Marketing Spotlight Premier Inn
Marketing Spotlight Transport for London
Chapter 10. Building Strong Brands
How Does Branding Work?
The Essence of Branding
The Role of Brands
Brand Equity and Brand Power
Designing the Brand
Defining the Brand Mantra
Choosing Brand Elements
The Magic of Brand Characters
Choosing Secondary Associations
Brand Hierarchy
Managing Brand Portfolios
Cobranding
The Brand Value Chain
Brand Dynamics
Brand Repositioning
Brand Extensions
Managing a Brand Crisis
Luxury Branding
Characteristics of Luxury Brands
Managing Luxury Brands
Marketing Insight Constructing a Brand Positioning Bull’s-Eye
Summary
Marketing Spotlight Gucci
Marketing Spotlight MUJI
Chapter 11. Managing Pricing and Sales Promotions
Understanding Pricing
Consumer Psychology and Pricing
Setting the Price
Defining the Pricing Objective
Determining Demand
Estimating Costs
Analyzing Competitors’ Prices
Selecting a Pricing Method
Setting the Final Price
Product-Mix Pricing
Initiating and Responding to Price Changes
Initiating Price Cuts
Initiating Price Increases
Responding to Competitors’ Price Changes
Managing Incentives
Incentives as a Marketing Device
Major Incentive Decisions
Marketing Insight Ethical Issues in Prescription Drug Pricing
Summary
Marketing Spotlight Priceline
Marketing Spotlight Uber
Part 5: Communicating Value
Chapter 12. Managing Marketing Communications
The Role of Marketing Communication
The Communication Process
Developing an Effective Communication Program
Setting the Communication Objectives
Defining the Focus of Company Communications
Setting the Communication Benchmarks
Determining the Communication Budget
Identifying the Target Audience and Crafting the Communication Message
Identifying the Target Audience
Crafting the Communication Message
Deciding on the Communication Media
Defining the Communication Media Mix
Developing a Media Plan
Winning the Super Bowl of Advertising
Developing the Creative Approach
Determining the Message Appeal
Selecting the Message Source
Developing the Creative Execution
Measuring Communication Effectiveness
Marketing Insight Celebrity Endorsements
Summary
Marketing Spotlight Red Bull
Marketing Spotlight Cadbury
Chapter 13. Designing an Integrated Marketing Campaign in the Digital Age
Managing Integrated Marketing Communications
Advertising
Television Advertising
Print Advertising
Radio Advertising
Online Advertising
Place Advertising
Online Communication
Company Website
Driving Online Traffic
Social Media
The Growth of Social Media
Social Media Platforms
Mobile Communication
Events and Experiences
Managing Events
Creating Experiences
Word of Mouth
Publicity and Public Relations
Publicity
Public Relations
Packaging
Marketing Insight Measuring Social Media ROI
Summary
Marketing Spotlight Honda
Marketing Spotlight AccorHotels
Chapter 14. Personal Selling and Direct Marketing
Personal Selling
Personal Selling as a Process
Managing the Sale
Designing the Sales Force
Sales Force Objectives
Sales Force Strategy
Sales Force Structure
Sales Force Size
Sales Force Compensation
Managing the Sales Force
Recruiting the Sales Force
Training and Supervising the Sales Force
Managing Sales Force Productivity
Motivating the Sales Force
Evaluating the Sales Force
Direct Marketing
Direct Marketing Channels
The Future of Direct Marketing
Marketing Insight Major Account Management
Summary
Marketing Spotlight Avon
Marketing Spotlight Progressive Insurance
Part 6: Delivering Value
Chapter 15. Designing and Managing Distribution Channels
The Role of Distribution Channels
Distribution Channel Functions
Channel Levels
Multichannel Distribution
Channel-Management Decisions
Establishing Channel Objectives
Selecting Channel Members
Motivating Channel Members
Evaluating Channel Members
Channel Cooperation and Conflict
The Nature of Channel Conflicts
Managing Channel Conflict
Managing Market Logistics
Market-Logistics Objectives
Market-Logistics Decisions
Marketing Insight Understanding the Showrooming Phenomenon
Summary
Marketing Spotlight Zara
Marketing Spotlight Popeyes
Chapter 16. Managing Retailing
The Modern Retail Environment
Key Retailing Decisions
Target Market
Product Assortment and Procurement
Services
Store Atmosphere
Pricing
Incentives
Communications
Managing Omnichannel Retailing
Brick-and-Mortar Retailers
Online Retailers
Omnichannel Retailing
Managing Private Labels
Wholesaling
The Business of Wholesaling
Key Functions Performed by Wholesalers
Marketing Insight Managing the Price Image of a Retailer
Summary
Marketing Spotlight Uniqlo
Marketing Spotlight Best Buy
Part 7: Managing Growth
Chapter 17. Driving Growth in Competitive Markets
Assessing Growth Opportunities
Product–Market Growth Strategies
Growth Through Mergers and Acquisitions
Growth Through Innovation and Imitation
Gaining Market Position
Growing Sales to Current Customers
Creating New Markets
Expanding Existing Markets
Defending Market Position
Product Life Cycle Marketing Strategies
The Concept of a Product Life Cycle
Introduction Stage
Growth Stage
Maturity Stage
Decline Stage
Alternative Product Life Cycle Patterns
Marketing Insight Market-Challenger Growth Strategies
Summary
Marketing Spotlight Airbnb
Marketing Spotlight American Express
Chapter 18. Developing New Market Offerings
The Process of Developing New Market Offerings
The Innovation Imperative
Managing Innovation
The Stage-Gate Approach to Developing New Offerings
The Stage-Gate Approach to Developing New Offerings: An Illustration
Idea Generation
Generating Viable Ideas
Idea Validation
Market Research Tools for Idea Generation and Validation
Concept Development
Prototyping
Concept Validation
Business-Model Design
Designing the Business Model
Business-Model Validation
Offering Implementation
Developing the Core Resources
Developing the Market Offering
Commercial Deployment
Selective Market Deployment
Market Expansion
Marketing Insight Understanding the Adoption of Innovations
Summary
Marketing Spotlight Honest Tea
Marketing Spotlight WeChat
Chapter 19. Building Customer Loyalty
Managing Customer Acquisition and Retention
The Customer Acquisition Funnel
Balancing Customer Acquisition and Customer Retention
Managing Customer Satisfaction and Loyalty
Understanding Customer Satisfaction
Product and Service Quality as a Driver of Customer Satisfaction
Measuring Customer Satisfaction
Building Customer Loyalty
Managing Customer Relationships
Customization
Customer Empowerment
Managing Customer Word of Mouth
Dealing with Customer Complaints
Managing Customer Lifetime Value
The Concept of Customer Lifetime Value
Customer Lifetime Value and Brand Equity
Building Customer Lifetime Value
Creating Customer Loyalty by Building Trust
Measuring Customer Lifetime Value
Marketing Insight Net Promoter Scoreand Customer Satisfaction
Summary
Marketing Spotlight Stitch Fix
Marketing Spotlight Emirates
Chapter 20. Tapping into Global Markets
Deciding Whether to Go Abroad
Deciding Which Markets to Enter
Determining How Many Markets to Enter
Evaluating Potential Markets
Deciding How to Enter the Market
Indirect and Direct Export
Licensing
Joint Ventures
Direct Investment
Deciding on the Global Marketing Program
Global Product Strategies
Global Brand Strategies
Global Pricing Strategies
Global Communication Strategies
Global Distribution Strategies
Marketing Insight Global Similarities and Differences
Summary
Marketing Spotlight Sephora
Marketing Spotlight Mandarin Oriental
Chapter 21. Socially Responsible Marketing
The Role of Social Responsibility in Marketing Management
Community-Based Corporate Social Responsibility
Corporate Social Responsibility in the Workplace
Corporate Philanthropy
Serving Low-Income Communities
Cause Marketing
Social Marketing
Sustainability-Focused Corporate Social Responsibility
Balancing Social Responsibility and Corporate Profitability
Developing Ethical Marketing Communications
Managing Customer Privacy
Marketing Insight Environmental Concerns in the Water Industry
Summary
Marketing Spotlight Starbucks
Marketing Spotlight Ben & Jerry's
Marketing Spotlight Tiffany & Co
Endnotes
Glossary
Name Index
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