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Essentials of Marketing

by
Edition:
5th
ISBN13:

9780324316643

ISBN10:
032431664X
Format:
Paperback
Pub. Date:
10/7/2005
Publisher(s):
South-Western College Pub
List Price: $241.33

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Summary

ESSENTIALS OF MARKETING, 5th continues the tradition of providing comprehensive, up-to-the minute coverage of key marketing topics in a brief text. ESSENTIALS OF MARKETING, 5th is ideal for those who wish to incorporate outside projects or readings into their course. Key principles are illustrated by hundreds of fresh, new examples, while the latest concepts and theories are covered in detail with numerous illustrations. Organized around the marketing mix, this thoroughly revised text features a comprehensive supplement package.

Table of Contents

PART 1 The World of Marketing
1(114)
An Overview of Marketing
2(44)
What Is Marketing?
4(1)
The Concept of Exchange
4(1)
Marketing Management Philosophies
5(2)
Production Orientation
5(1)
Sales Orientation
5(1)
Market Orientation
6(1)
Societal Marketing Orientation
7(1)
Implementation of the Marketing Concept
7(5)
Customer Value and Customer Satisfaction
8(2)
Building Relationships
10(2)
The Marketing Process
12(1)
Environmental Scanning
13(1)
Organization Mission
13(1)
Marketing Opportunity Analysis
13(1)
Marketing Strategy
13(3)
Target Market Strategy
13(1)
Marketing Objectives
13(1)
Marketing Mix
14(1)
Implementation
15(1)
Evaluation
15(1)
Corporate Social Responsibility
16(2)
Ethical Behavior in Business
18(4)
Morality and Business Ethics
19(1)
Ethical Decision Making
19(1)
Ethical Guidelines
20(2)
Why Study Marketing?
Marketing Plays an Important Role in Society
22(1)
Marketing Is Important to Businesses
22(1)
Marketing Offers Outstanding Career Opportunities
22(1)
Marketing Affects Your Life Every Day
23(1)
Looking Ahead
23(1)
Use It Now
24(1)
Review and Applications
25(2)
Terms
27(1)
Exercises
27(2)
Entrepreneurship Case: Cirque de Soleil: The Fire Within
29(2)
Rockstar Games: Caught in Their Own Vice
30(1)
Watch It
31(2)
Careers in Marketing Appendix
33(9)
Marketing Plan Appendix
42(4)
The Marketing Environment
46(30)
The External Marketing Environment
48(2)
Understanding the External Environment
48(1)
Environmental Management
49(1)
Social Factors
50(2)
American Values
50(1)
The Growth of Component Lifestyles
51(1)
The Changing Roles of Families and Working Women
51(1)
Demographic Factors
52(4)
Generation Y
53(1)
Generation X
54(1)
Baby Boomers---America's Mass Market
54(1)
Older Consumers: Not Just Grandparents
55(1)
Americans on the Move
55(1)
Growing Ethnic Markets
56(3)
Marketig to Hispanic Americans
56(1)
Marketing to African Americans
56(1)
Marketing to Asian Americans
57(1)
Ethnic and Cultural Diversity
58(1)
Economic Factors
59(3)
Rising Incomes
59(1)
Purchasing Power
60(1)
Inflation
61(1)
Recession
61(1)
Technological Factors
62(1)
Political and Legal Factors
63(3)
Federal Legislation
63(2)
State Laws
65(1)
Regulatory Agencies
65(1)
Competitive Factors
66(2)
Competition for Market Share and Profits
66(1)
Global Competition
67(1)
The Impact of Terrorism on Business
67(1)
Use It Now
68(1)
Review and Applications
69(2)
Terms
71(1)
Exercises
71(1)
Entrepreneurship Case: Ballet: Dancing on a Tightrope
72(2)
Watch It
74(2)
Developing a Global Vision
76(39)
Rewards of Global Marketing
78(3)
Importance of Global Marketing to the United States
79(1)
The Fear of Trade and Globalization
79(1)
Benefits of Globalization
80(1)
The Impact of Terrorism on Global Trade
81(1)
Multinational Firms
81(3)
Global Marketing Standardization
83(1)
External Environment Facing Global Marketers
84(8)
Culture
84(2)
Economic and Technological Development
86(1)
Political Structure and Actions
86(5)
Demographic Makeup
91(1)
Natural Resources
92(1)
Global Marketing by the Individual Firm
92(6)
Exporting
93(2)
Licensing
95(1)
Contract Manufacturing
96(1)
Joint Venture
96(1)
Direct Investment
97(1)
The Global Marketing Mix
98(7)
Product and Promotion
98(3)
Place (Distribution)
101(1)
Pricing
102(3)
The Impact of the Internet
105(1)
Use It Now
106(1)
Review and Applications
107(1)
Terms
108(1)
Exercises
109(1)
Entrepreneurship Case: MTV: Rocking the World One Nation At a Time
110(1)
Watch It
111(1)
Part 1 Closing
112(3)
Marketing Miscues: Scholastic Stumbles, Even with Market Access
112(1)
Critical Thinking Case: Vivendi Universal Games: Theft of Source Code for Half-Life 2
113(2)
PART 2 Analyzing Marketing Opportunities
115(144)
Consumer Decision Making
116(42)
The Importance of Understanding Consumer Behavior
118(1)
The Consumer Decision-Making Process
118(6)
Need Recognition
118(2)
Information Search
120(2)
Evaluation of Alternatives and Purchase
122(1)
Postpurchase Behavior
123(1)
Types of Consumer Buying Decisions and Consumer Involvement
124(3)
Factors Determining the Level of Consumer Involvement
125(1)
Marketing Implications of Involvement
126(1)
Factors Influences on Consumer Buying Decisions
127(1)
Cultural Influences on Consumer Buying Decisions
128(7)
Culture and Values
128(3)
Understanding Culture Differences
131(1)
Subculture
132(1)
Social Class
133(2)
Social Influences on Consumer Buying Decisions
135(5)
Reference Groups
135(2)
Opinion Leaders
137(1)
Family
138(2)
Individual Influences on Consumer Buying Decisions
140(3)
Gender
140(1)
Age and Family Life-Cycle Stage
141(1)
Personality, Self-Concept, and Lifestyle
142(1)
Psychological Influences on Consumer Buying Decisions
143(8)
Perception
144(2)
Motivation
146(2)
Learning
148(1)
Beliefs and Attitudes
149(2)
Use It Now
151(1)
Review and Applications
152(2)
Terms
154(1)
Exercises
154(1)
Entrepreneurship Case: Bucking the Trend: Is ``Family'' the Next Theme Restaurant?
155(1)
Watch It
156(2)
Business Marketing
158(26)
What Is Business Marketing?
160(1)
Business Marketing on the Internet
160(3)
Three Illustrations
161(1)
Potential Unrealized
162(1)
Relationship Marketing and Strategic Alliances
163(3)
Strategic Alliances
163(1)
Relationships on Other Cultures
164(2)
Major Categories of Business Customers
166(2)
Producers
166(1)
Resellers
166(1)
Governments
166(1)
Institutions
167(1)
The North American Industry Classification System
168(1)
Business versus Consumer Markets
169(3)
Demand
169(1)
Purchase Volume
170(1)
Number of Customers
170(1)
Location of Buyers
171(1)
Distribution Structure
171(1)
Nature of Buying
171(1)
Nature of Buying Influence
171(1)
Type of Negotiations
171(1)
Use of Reciprocity
172(1)
Use of Leasing
172(1)
Primary Promotional Method
172(1)
Types of Business Products
172(3)
Major Equipment
172(1)
Accessory Equipment
173(1)
Raw Materials
173(1)
Component Parts
173(1)
Processed Materials
174(1)
Supplies
174(1)
Business Services
174(1)
Business Buying Behavior
175(4)
Buying Centers
175(1)
Evaluative Criteria
176(1)
Buying Situations
177(1)
Business Ethics
178(1)
Customer Service
178(1)
Use It Now
179(1)
Review and Applications
179(2)
Terms
181(1)
Exercises
181(1)
Entrepreneurship Case: The Segway Company: Reinventing the Wheel
182(1)
Watch It
183(1)
Segmenting and Targeting Markets
184(36)
Market Segmentation
186(1)
The Importance of Market Segmentation
187(1)
Criteria for Successful Segmentation
187(1)
Bases for Segmenting Consumer Markets
188(10)
Geographic Segmentation
188(1)
Demographic Segmentation
189(6)
Psychographic Segmentation
195(1)
Benefit Segmentation
196(1)
Usage-Rate Segmentation
197(1)
Bases for Segmenting Business Markets
198(1)
Company Characteristics
198(1)
Buying Processes
198(1)
Customer Relationship
199(1)
Steps in Segmenting a Market
199(1)
Strategies for Selecting Target Markets
200(4)
Undifferentiated Targeting
201(1)
Concentrated Targeting
202(1)
Multisegment Targeting
203(1)
One-to-One Marketing
204(1)
Forces Influencing One-to-One Marketing
205(2)
Increasing Diversity
205(1)
More Demanding, Time-Poor Consumers
205(1)
Decreasing Brand Loyalty
206(1)
Emergence of New Media Alternatives
206(1)
Demand for Accountability
206(1)
How Have These Trends Influenced One-to-One Marketing
207(1)
Privacy Concerns with One-to-One Marketing
207(2)
Positioning
209(4)
Perceptual Mapping
210(1)
Positioning Bases
210(2)
Repositioning
212(1)
Use It Now
213(1)
Review and Applications
213(2)
Terms
215(1)
Exercises
216(1)
Entrepreneurship Case: Viva Las Vegas
217(1)
Watch It
218(2)
Decision Support Systems and Marketing Research
220(39)
Marketing Decision Support Systems
222(1)
The Role of Marketing Research
223(3)
Management Uses of Marketing Research
223(3)
Steps in a Marketing Research Project
226(16)
Secondary Data
227(1)
The New Age of Secondary Information: The Internet
228(2)
Planning the Research Design and Gathering Primary Data
230(7)
Specifying the Sampling Procedures
237(2)
Collecting the Data
239(1)
Analyzing the Data
239(2)
Preparing and Presenting the Report
241(1)
Following Up
241(1)
The Profound Impact of the Internet on Marketing
242(5)
Advantages of Internet Surveys
242(1)
Uses of the Internet by Marketing Researchers
243(4)
Scanner-Based Research
247(1)
When Should Marketing Research Be Conducted?
248(1)
Competitive Intelligence
248(2)
Sources of Competitive Intelligence
249(1)
Use It Now
250(1)
Review and Applications
250(2)
Terms
252(1)
Exercises
252(1)
Entrepreneurship Case: Cool and How to Find It: Look-Look
253(2)
Watch It
255(1)
Part 2 Closing
256(3)
Marketing Miscues: Remembering the Alamo may be Painful for Disney
256(1)
Critical Thinking Case: Tall Magazine Debuts to the Vertically-Gifted Crowd
257(2)
PART 3 Product and Distribution Decisions
259(128)
Product and Services Concepts
260(26)
What Is a Product?
262(1)
Types of Consumer Products
262(2)
Convenience Products
262(1)
Shopping Products
263(1)
Specialty Products
264(1)
Unsought Products
264(1)
The Importance of Services
264(1)
How Services Differ from Goods
265(2)
Intangibility
265(1)
Inseparability
266(1)
Heterogeneity
266(1)
Perishability
267(1)
Product Items, Lines, and Mixes
267(9)
Adjustments to Product Items, Lines, and Mixes
268(3)
Benefits of Branding
271(1)
Branding Strategies
272(3)
Trademarks
275(1)
Packaging
276(3)
Packaging Functions
276(2)
Labeling
278(1)
Universal Product Codes
279(1)
Product Warranties
279(1)
Use It Now
280(1)
Review and Applications
280(2)
Terms
282(1)
Exercises
282(1)
Entrepreneurship Case: Finally a Garage Band that Really Rocks
283(1)
Watch It
284(2)
Developing and Managing Products
286(24)
The Importance of New Products
288(1)
Categories of New Products
288(1)
The New-Product Development Process
289(9)
New-Product Strategy
289(1)
Idea Generation
290(1)
Idea Screening
291(1)
Business Analysis
292(1)
Development
293(1)
Test Marketing
294(2)
Commercialization
296(2)
The Spread of New Products
298(2)
Diffusion of Innovation
298(1)
Product Characteristics and the Rate of Adoption
299(1)
Marketing Implications of the Adoption Process
300(1)
Product Life Cycles
300(5)
Introductory Stage
301(1)
Growth Stage
302(1)
Maturity Stage
302(1)
Decline Stage
303(1)
Implications for Marketing Management
304(1)
Use It Now
305(1)
Review and Applications
305(1)
Terms
306(1)
Exercises
306(1)
Entrepreneurship Case: Valvoline: Coming to a Pep Rally Near You
307(1)
Watch It
308(2)
Marketing Channels and Supply Chain Management
310(38)
Marketing Channels
312(3)
Providing Specialization and Division of Labor
312(1)
Overcoming Discrepancies
312(1)
Providing Contact Efficiency
313(2)
Channel Intermediaries and Their Functions
315(2)
Channel Functions Performed by Intermediaries
316(1)
Channel Structures
317(5)
Channels for Consumer Products
318(1)
Channels for Business and Industrial Products
319(1)
Alternative Channel Arrangements
320(2)
Supply Chain Management
322(2)
Benefits of Supply Chain Management
324(1)
Making Channel Strategy Decision
324(3)
Factors Affecting Channel Choice
324(2)
Levels of Distribution Intensity
326(1)
Managing Channel Relationships
327(3)
Channel Power, Control, and Leadership
328(1)
Channel Conflict
328(1)
Channel Partnering
329(1)
Managing the Logistical Components of the Supply Chain
330(6)
Sourcing and Procurement
331(1)
Production Scheduling
331(1)
Order Processing
332(1)
Inventory Control
333(1)
Warehousing and Materials-Handling
334(1)
Transportation
335(1)
Trends in Supply Chain Management
336(2)
Advanced Computer Technology
336(1)
Outsourcing Logistics Functions
337(1)
Electronic Distribution
338(1)
Channels and Distribution Decisions for Services
338(2)
Use It Now
340(1)
Review and Applications
340(3)
Terms
343(1)
Exercises
344(1)
Entrepreneurship Case: Carsdirect.com: Driving Car Buyers to the Internet
345(1)
Watch It
346(2)
Retailing
348(39)
The Role of Retailing
350(1)
Classification of Retail Operations
351(1)
Ownership
351(1)
Level of Service
351(1)
Product Assortment
351(1)
Price
352(1)
Major Types of Retail Operations
352(7)
Department Stores
352(1)
Specialty Stores
353(1)
Supermarkets
353(1)
Drugstores
354(1)
Convenience Stores
355(1)
Discount Stores
355(3)
Restaurants
358(1)
Nonstore Retailing
359(6)
Automatic Vending
359(1)
Direct Retailing
360(1)
Direct Marketing
361(1)
Electronic Retailing
362(3)
Franchising
365(2)
Retail Marketing Strategy
367(8)
Defining a Target Market
367(1)
Choosing the Retailing Mix
368(7)
New Developments in Retailing
375(2)
Interactivity
375(1)
M-Commerce
376(1)
Use It Now
377(1)
Review and Applications
377(2)
Terms
379(1)
Exercises
379(2)
Entrepreneurship Case: Best Buy Gives a Whole New Meaning to ``Thousands of Possibilities. Get Yours.''
381(1)
Watch It
382(4)
Part 3 Closing
386(1)
Marketing Miscues: Comic Book Distribution Methods Define (and Shrink) Audience
384(3)
Critical Thinking Case: Twister Moves-The Cool Hip Dance Version of the Classic Game of Twister
387(1)
PART 4 Promotion and Pricing Decisions
387(115)
Marketing Communications and Advertising
388(44)
Promotional Elements and the Marketing Mix
390(4)
Advertising
390(1)
Public Relations
391(1)
Sales Promotion
392(1)
Personal Selling
393(1)
Marketing Communication
394(4)
The Communication Process
394(3)
The Communication Process and the Promotional Mix
397(1)
Promotional Goals, Tasks, and the AIDA Concept
398(4)
Informing
398(1)
Persuading
398(1)
Reminding
399(1)
The AIDA Concept
399(1)
AIDA and the Promotional Mix
400(2)
Factors Affecting the Promotional Mix
Nature of the Product
402(1)
Stage in the Product Life Cycle
403(1)
Target Market Characteristics
403(1)
Type of Buying Decision
403(1)
Available Funds
404(1)
Push and Pull Strategies
404(1)
Integrated Marketing Communications
405(1)
The Effects of Advertising
406(2)
Advertising and Market Share
407(1)
The Effects of Advertising on Consumers
408(1)
Major Types of Advertising
408(3)
Institutional Advertising
408(1)
Product Advertising
409(2)
Creative Decisions in Advertising
411(4)
Identifying Product Benefits
411(1)
Developing and Evaluating Advertising Appeals
412(1)
Executing the Message
413(2)
Postcampaign Evaluation
415(1)
Media Decisions in Advertising
415(8)
Media Types
416(4)
Media Selection Considerations
420(2)
Media Scheduling
422(1)
Use It Now
423(1)
Review and Applications
424(3)
Terms
427(1)
Exercises
427(1)
Entrepreneurship Case: The Move from TV to TiVo
428(2)
Watch It
430(2)
Public Relations, Sales Promotion, and Personal Selling
432(32)
Public Relations
434(3)
Major Public Relations Tools
434(3)
Managing Unfavorable Publicity
437(1)
Sales Promotion
437(2)
The Objectives of Sales Promotion
438(1)
Tools for Consumer Sales Promotion
439(6)
Coupons and Rebates
439(2)
Premiums
441(1)
Loyalty Marketing Programs
441(1)
Contests and Sweepstakes
442(1)
Sampling
442(1)
Point-of-Purchase Promotion
443(1)
Online Sales Promotion
444(1)
Tools for Trade Sales Promotion
445(1)
Personal Selling
446(1)
Relationship Selling
447(2)
Steps in the Selling Process
449(9)
Generating Leads
450(1)
Qualifying Leads
451(1)
Approaching the Customer and Probing Needs
452(2)
Developing and Proposing Solutions
454(1)
Handling Objections
455(1)
Closing the Sale
455(1)
Following Up
456(2)
Use It Now
458(1)
Review and Applications
458(2)
Terms
460(1)
Exercises
460(2)
Entrepreneurship Case: Varsity Group: The Campus Bookstore Alternative
462(1)
Watch It
463(1)
Pricing Concepts
464(38)
The Importance of Price
466(1)
What Is Price?
466(1)
The Importance of Price to Marketing Managers
466(1)
Pricing Objectives
467(3)
Profit-Oriented Pricing Objectives
467(2)
Sales-Oriented Pricing Objectives
469(1)
Status Quo Pricing Objectives
469(1)
The Demand Determinant of Price
470(1)
The Nature of Demand
470(1)
Elasticity of Demand
470(1)
The Power of Yield Management Systems
471(1)
The Cost Determinant of Price
472(2)
Markup Pricing
473(1)
Break-Even Pricing
473(1)
Other Determinants of Price
474(6)
Stages in the Product Life Cycle
475(1)
The Competition
475(1)
Distribution Strategy
475(1)
The Impact of the Internet and Extranets
476(2)
Promotion Strategy
478(1)
Demands of Large Customers
479(1)
The Relationship of Price to Quality
479(1)
How to Set a Price on a Product
480(4)
Establish Pricing Goals
480(1)
Estimate Demand, Costs, and Profits
480(1)
Choose a Price Strategy
480(4)
The Legality and Ethics of Price Strategy
484(2)
Unfair Trade Practices
484(1)
Price Fixing
484(1)
Price Discrimination
484(1)
Predatory Pricing
485(1)
Tactics for Fine-Tuning the Base Price
486(6)
Discounts, Allowances, Rebates, and Value-Based Pricing
486(1)
Geographic Pricing
487(1)
Other Pricing Tactics
488(3)
Consumer Penalties
491(1)
Use It Now
492(1)
Review and Applications
492(3)
Terms
495(1)
Exercises
495(1)
Entrepreneurship Case: HDNet Aims to Redefine Television
496(1)
Watch It
497(3)
Part 4 Closing
500(2)
Marketing Miscues: Will Knott's Berry Farm Attract Visitors, Start a Price War, or Decrease Revenue?
500(1)
Critical Thinking Case: Adidas Takes Human Billboards to New Heights
501(1)
Glossary 502(10)
Endnotes 512(12)
Index 524


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