Marketing

by Sandhusen, Richard L.

• ISBN13: 9780764139321
• ISBN10: 0764139320
• Edition: 4th
• Format: Paperback
• Copyright: 2008-06-01
• Publisher: Barrons Test Prep

Summary

The author creates a hypothetical company and analyses both domestic and international marketing strategies that it would typically employ in today's business climate.

Table of Contents

Preface	p. xiii
The Marketing Process: Basic Concepts	p. 1
Overview	p. 1
Introducing Merton Electronics	p. 1
Marketing Concepts That Support Marketing Plans	p. 3
Market Focus 1-1 Titanic: The Amazing Movie	p. 5
Eight Basic Marketing Functions	p. 8
Evolution of Marketing: Self-Sufficiency to Centralization	p. 10
Evolution of Marketing Philosophies: Production to Societal	p. 12
International Perspective	p. 14
Global Focus 1-1 Domino's Pizza Changes Its Mix	p. 15
Chapter Perspective	p. 18
Know the Concepts	p. 19
Answers	p. 21
The International Market: Forces and Opportunities	p. 24
Overview	p. 24
Why International Trade Grows	p. 24
The IMF and World Bank	p. 26
Benefits of Entering Foreign Markets	p. 28
Global Focus 2-1 The Free Market at Work: From Dirty Hands to Skilled Hands	p. 29
Global Focus 2-2 Exports as a Hedge Against Flat U.S. Market	p. 30
Difficulties in Entering Foreign Markets	p. 33
The Role of the United States in Global Trade	p. 34
Reducing the Trade Deficit Will Increase GDP	p. 36
Reducing the Trade Deficit Won't Be Easy	p. 36
Regaining the Competitive Edge	p. 37
A Strategy for Reducing the Trade Deficit	p. 37
Chapter Perspective	p. 38
Know the Concepts	p. 39
Answers	p. 41
Marketing Management and Strategic Marketing Planning	p. 44
Overview	p. 44
Marketing Management Creates Satisfactory Exchanges	p. 44
What Marketing Managers Do	p. 45
Market Focus 3-1 Strategic Planning at Wainwright Industries Earns the Baldrige Award	p. 46
Creating and Maintaining Demand Levels	p. 47
Strategic Marketing Planning Manages Demand	p. 49
Business-Level Strategic Planning	p. 50
International Perspective	p. 55
Global Focus 3-1 Formulating a Successful Export Strategy	p. 55
Chapter Perspective	p. 61
Know the Concepts	p. 62
Answers	p. 64
The Marketing Environment	p. 69
Overview	p. 69
Environmental Variables	p. 69
How Technology Affects Environmental Variables	p. 70
First Step: Scan Internal and External Environments	p. 70
Market Focus 4-1 AT&T Responds to Full-Scale Environmental Change	p. 70
Macro/Microenvironments	p. 72
The Macroenvironment: Threats and Opportunities	p. 73
The Demographic Environment	p. 73
The Economic Environment	p. 75
The Social-Cultural Environment	p. 79
The Political-Legal Environment	p. 83
The Technological Environment	p. 89
The Competitive Environment	p. 90
The Microenvironment: Threats and Opportunities	p. 93
Chapter Perspective	p. 96
Know the Concepts	p. 97
Answers	p. 99
The International Marketing Environment	p. 103
Overview	p. 103
Global Environments Affect Strategic Planning	p. 103
Economic Considerations	p. 104
Political-Legal Considerations	p. 109
Home-Country Trade Influences	p. 110
Global Focus 5-1 Export Controls Hurt U.S. Firms	p. 110
Host-Country Influences on Trade	p. 113
Supranational Influences on Trade	p. 115
Global Legal Systems Affect Business Decisions	p. 115
Cultural Influences on Global Markets	p. 118
Global Focus 5-2 It Helps to Know the Negotiating Context	p. 123
Chapter Perspective	p. 124
Know the Concepts	p. 124
Answers	p. 127
Decision Support and Strategic Planning/Management Systems	p. 131
Overview	p. 131
Support Systems That Inform Other Systems	p. 131
How DSSs Evolved	p. 132
The Early Stage: Too Much Information	p. 132
The First MIS	p. 134
Market Focus 6-1 The Global Spyglass	p. 135
Transforming MISs into DSSs	p. 137
DSS Applications	p. 139
Strategic Planning/Management Systems	p. 145
The Balanced Scorecard	p. 147
Market Focus 6-2 Improving Chrysler Dealer Quality: A Tale of Two Programs	p. 149
Chapter Perspective	p. 153
Know the Concepts	p. 154
Answers	p. 156
Marketing Systems	p. 158
Overview	p. 158
Marketing Processes and Systems	p. 158
Systems Theory Explains Marketing Processes	p. 158
Four Marketing Systems	p. 160
The Organizational System Harmonizes Marketing Efforts	p. 161
Market Focus 7-1 Hewlett-Packard Organizes for Growth	p. 163
The Planning System Helps Define and Exploit Opportunities	p. 164
The Control System Keeps Plans On Track	p. 171
International Perspective	p. 173
Global Focus 7-1 Whirlpool Succeeds Abroad	p. 178
Chapter Perspective	p. 179
Know the Concepts	p. 179
Answers	p. 182
Marketing Research 1: Problems and Processes	p. 185
Overview	p. 185
What Marketing Research Does	p. 185
Who Does Marketing Research?	p. 185
Product/Market MR Applications	p. 186
MR Applications Differ by Industry and Roles	p. 187
Validity and Reliability	p. 187
Key MR Constraints: Subjects, Instruments, and Controls	p. 188
The MR Process: Formulate, Compile, Analyze, Recommend	p. 189
Define Research Problem and Objectives	p. 190
Conduct a Situation Analysis	p. 190
Design a Research Plan	p. 191
International Perspective	p. 192
Global Focus 8-1 How Hewlett-Packard Finds Market Opportunities	p. 197
Chapter Perspective	p. 200
Know the Concepts	p. 200
Answers	p. 202
Marketing Research: Tools and Techniques	p. 205
Overview	p. 205
Exploratory and Conclusive Research	p. 205
Conclusive and Exploratory Research Work Together	p. 206
Designing the Research Plan	p. 207
Collecting, Processing, and Applying Primary Data	p. 207
Constructing the Questionnaire	p. 215
Interpreting Data with Statistics and Experiments	p. 222
Coding and Tabulating Data	p. 224
Generating Conclusions and Making Recommendations	p. 225
Implementation and Feedback	p. 225
International Perspective	p. 226
Global Focus 9-1 Adjusting Marketing Research to Market Conditions	p. 226
Chapter Perspective	p. 231
Know the Concepts	p. 232
Answers	p. 235
Consumer Behavior	p. 238
Overview	p. 238
Understanding Consumer Behavior Helps Relate and Communicate	p. 238
Consumer Behavior Defines Markets, Marketing Mixes, and Messages	p. 239
A Model of Consumer Behavior	p. 240
Stimuli That Influence Consumer Behavior	p. 241
How Interpersonal Variables Influence Consumer Behavior	p. 241
How Reference Groups Influence Consumer Behavior	p. 244
How Intrapersonal Variables Influence Consumer Behavior	p. 247
How Buyers Make Decisions	p. 250
Market Focus 10-1 The Consumer Decision Process Guides Rogaine's Promotion	p. 251
International Perspective	p. 259
Global Focus 10-1 Ostrich Rancher Looks to Feather His Nest in Overseas Markets	p. 260
Chapter Perspective	p. 261
Know the Concepts	p. 261
Answers	p. 264
Organizational Markets and Buying Behavior	p. 266
Overview	p. 266
Components of the Organizational Market	p. 266
The Industrial Producer Market	p. 266
SIC Categories Define Industries and Trades	p. 268
Industrial Market Demand Patterns	p. 270
The Industrial Buying Process	p. 272
Market Focus 11-1 Building Markets by Building Partnerships	p. 277
The Reseller Market	p. 278
The Government Market	p. 280
The Institutional Market	p. 280
International Perspective	p. 281
Stages of Economic Development	p. 281
Key Export Industries Generate Jobs and Growth	p. 283
Global Focus 11-1 Sivam: Case Study in Successful Advocacy	p. 286
Demand Patterns in Global Markets	p. 287
Purchasing Policies and Practices in Global Markets	p. 288
Chapter Perspective	p. 288
Know the Concepts	p. 289
Answers	p. 292
Market Segmentation, Targeting, and Positioning Strategies	p. 296
Overview	p. 296
Target Marketing Improves Market Planning	p. 296
Segmentation Strategy Options	p. 297
Criteria That Define Worthwhile Segments	p. 299
Bases for Segmenting Markets	p. 300
Identifying, Defining, and Prioritizing Segments	p. 303
Choosing a Segmentation Strategy in the Consumer Market	p. 305
Organizational Market Segmentation Strategies	p. 306
Market Positioning: Find a Niche	p. 308
International Perspective	p. 309
Global Focus 12-1 Nonalcoholic Wine Exporter Toasts World Markets	p. 311
Chapter Perspective	p. 312
Know the Concepts	p. 313
Answers	p. 316
Measuring Market and Sales Potential	p. 318
Overview	p. 318
Forecasts Project Market and Sales Potential	p. 318
Forecasts Help Plan and Achieve Marketing Goals	p. 319
Forecasting Dimensions: Time, Space, and Products	p. 320
Forecasting Criteria: Money, Authority, Desire, Access	p. 321
Relationships Between Marketing Effort and Demand	p. 322
The Three-Step Direct Forecasting Approach	p. 323
Organizational Market Forecasting Strategies	p. 327
Market Focus 13-1 Building Forecasts and Market Plans on Zip Codes and Census Data	p. 328
Judgmental Forecasting Techniques	p. 329
International Perspective	p. 330
Global Focus 13-1 Analogy Forecasts Help Build Lakewood's World Market for Chopsticks	p. 332
Gap Analysis Scans, Compares	p. 334
Chapter Perspective	p. 334
Know the Concepts	p. 335
Answers	p. 338
Relationship Marketing and Integrated Marketing Communications	p. 342
Overview	p. 342
RM and IMC Work Together	p. 342
RM's Focus: Long-Term Loyalty	p. 343
Market Focus 14-1 Hilton's CRM System Builds Customer Loyalty and Profits	p. 347
Integrated Marketing Communications	p. 349
Market Focus 14-2 Gilette Introduces the Fusion Shaving System	p. 351
Chapter Perspective	p. 353
Know the Concepts	p. 354
Answers	p. 356
Product Planning I: Product/Market Growth Strategies	p. 357
Overview	p. 357
Products Define Customers, Competitors, and Marketing Mix	p. 357
Products Defined: Bundles of Satisfactions	p. 358
Consumer/Industrial Products	p. 359
Segmentation Implications	p. 366
Product Life Cycles Help Plan Strategies	p. 366
New Products: Anything New	p. 371
Organizing for New Product Development	p. 372
International Perspective	p. 376
Global Product Benefits	p. 377
Standardized vs. Customized Plans	p. 378
Global Focus 15-1 When Product Plans Go Awry	p. 379
Product/Market Adaptation Strategies	p. 382
The Fast-Growing Global Services Sector	p. 384
International Product Life Cycles Help Plan Strategies	p. 385
Introducing New Products into Global Markets	p. 386
Chapter Perspective	p. 387
Know the Concepts	p. 387
Answers	p. 390
Product Planning II: Product Design and Development Strategies	p. 393
Overview	p. 393
Product Planning Meets Customer Needs, Company Goals	p. 393
Product Planning in Context	p. 394
Product Design	p. 394
Product Brands	p. 395
Quality Levels	p. 399
Overlooked Service Opportunities	p. 401
Market Focus 16-1 The Increasing Importance of Service in Competitive Markets	p. 401
Customer Service Needs	p. 403
Product Packaging Decisions	p. 403
Labeling Decisions Supplement Packaging Decisions	p. 405
Line and Mix Strategies	p. 406
International Perspective	p. 408
Product Design in Global Markets	p. 408
Global Focus 16-1 Learning from Product Design Successes and Failures	p. 409
Branding in Global Markets	p. 410
Product Counterfeiting Threatens Global Trade	p. 412
Chapter Perspective	p. 413
Know the Concepts	p. 414
Answers	p. 416
Establishing Pricing Objectives and Policies	p. 420
Overview	p. 420
Pricing Objectives Define Policies and Strategies	p. 420
Prices Influence Sales, Profits, and Marketing Mixes	p. 421
Prices Support the Marketing Mix	p. 422
Pricing as a Marketing Function	p. 422
Pricing Objectives, Policies, Strategies	p. 423
Market Focus 17-1 How Customer Perceptions Define Quality and Price	p. 424
How Political/Legal Climates Affect Pricing	p. 429
International Perspective	p. 431
How Cost Considerations Affect Global Pricing Decisions	p. 431
Transfer Pricing and Tax-Tariffs	p. 433
Global Focus 17-1 Penalizing Transfer Pricing Abuses: Actions and Reactions	p. 434
Currency Valuation Threats and Opportunities	p. 435
Escrow Requirements Tie Up Earning Potential	p. 437
Dumping: Hard to Prove	p. 437
Pricing Legislation	p. 438
Chapter Perspective	p. 440
Know the Concepts	p. 440
Answers	p. 444
Formulating Pricing Strategies and Tactics	p. 448
Overview	p. 448
Pricing Strategies Help Achieve Marketing Goals	p. 448
Pricing Options Respond to Market Challenges	p. 449
Cost-Based Strategies: ROI, Markups, and Breakevens	p. 449
Oligopolistic Strategies: Copycats and Kinked Demand	p. 452
Demand-Based Price Strategies	p. 452
Price Discrimination Favors Different Segments	p. 454
Promotional Pricing Attracts Market Segments	p. 455
Expected Profit Strategies Control Bidding	p. 456
Product Line Pricing Strategies	p. 456
Price Modification Strategies	p. 458
Price Change Strategies	p. 460
Anticipating Price Change Reactions	p. 461
Addressing Global Pricing Problems	p. 462
Global Focus 18-1 Different Companies, Different Price Strategies	p. 465
Chapter Perspective	p. 467
Know the Concepts	p. 468
Answers	p. 471
Promotion Planning I: Indirect Promotion	p. 473
Overview	p. 473
Promotion Mix Elements Inform, Persuade, or Remind	p. 473
What Promotional People Do	p. 474
A Model of the Communication Process	p. 474
Planning Productive Promotion Programs	p. 475
International Perspective	p. 482
Advertising Around the World	p. 482
Global Promotion Planning Problems	p. 483
Guidelines for Successful Global Promotions	p. 485
Global Focus 19-1 Overseas Trade Shows Enhance Direct Selling	p. 486
Chapter Perspective	p. 488
Know the Concepts	p. 488
Answers	p. 492
Promotion Planning II: Sales and Sales Management	p. 495
Overview	p. 495
Personal Selling: Expensive and Profitable	p. 495
Ultimate Goal: Ultimate Sale	p. 495
Anatomy of a Sales Call	p. 496
Types of Selling	p. 502
Careers in Selling	p. 503
Sales Managers Manage People	p. 504
Salesforce Design	p. 505
Salesforce Management	p. 506
Salesforce Automation	p. 509
International Perspective	p. 511
Global Focus 20-1 Block Those Language Blunders!	p. 511
Sales Management Challenges in Global Markets	p. 512
Chapter Perspective	p. 515
Know the Concepts	p. 516
Answers	p. 518
Marketing on the Internet	p. 520
Overview	p. 520
e-Business to e-Marketing to B2B, B2C, and B2G	p. 520
Technology Grows e-Commerce	p. 521
Modern e-Market Strategies	p. 523
Internet Marketing Aids Strategic Planning	p. 525
Market Focus 21-1 How to Buy a Car over the Internet	p. 526
Internet Sites Sell, Service, and Inform	p. 528
The Well-Designed Website	p. 530
Internet Marketing Builds Markets	p. 531
Benefits of Internet Marketing	p. 533
International Perspective	p. 535
Chapter Perspective	p. 536
Know the Concepts	p. 537
Answers	p. 538
Distribution Planning I: Channel Strategy	p. 541
Overview	p. 541
Distribution Planning Moves Goods Through Channels	p. 541
Channels Perform Marketing Functions	p. 542
Channel Networks in Consumer and Industrial Markets	p. 543
Channel Flows Influence Channel Choice	p. 544
Retailers and Wholesalers	p. 545
Retailers Defined by Ownership	p. 546
Retailers Defined by Services and Facilities	p. 546
Types of Wholesalers	p. 548
Retailer and Wholesaler Marketing Decisions	p. 550
VMS Structures Aid Channel Cooperation	p. 552
VMS Alternatives: Horizontal and Multichannel Systems	p. 553
Good Distributor Agreements Create Good Communications	p. 554
International Perspective	p. 555
Global Distribution Systems	p. 555
Global Channel Strategies	p. 556
Global Focus 22-1 Direct and Indirect Selling: Exporters Go Both Ways	p. 557
Finding Distributors in International Markets	p. 562
Managing Channels in International Markets	p. 563
Chapter Perspective	p. 563
Know the Concepts	p. 564
Answers	p. 566
Distribution Planning II: Logistics Systems	p. 569
Overview	p. 569
Logistics: Getting Products to Customers	p. 569
Market Focus 23-1 Distributors as Strategic Business Partners	p. 570
Total Systems and Total Costs Define Logistics Goals	p. 571
Planning Cost-Efficient Logistics Systems	p. 572
Tradeoffs Among Logistics Functions Optimize Costs	p. 577
International Perspective	p. 577
Transportation Constraints	p. 578
Transportation Modes	p. 579
Storage Facility Availability	p. 581
Order Processing in Global Markets	p. 582
Coordinating Transportation	p. 584
Global Focus 23-1 How BLS Simplified NSC's Delivery Problem	p. 585
Managing the Logistics Function	p. 585
Chapter Perspective	p. 586
Know the Concepts	p. 586
Answers	p. 589
Glossary	p. 591
Index	p. 602
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