MP Essentials of Marketing w/ Student CD-ROM & Apps 2005

by Perreault, William D.; McCarthy, Jerome E.; McCarthy, E. Jerome

• ISBN13: 9780073049205
• ISBN10: 0073049204
• Edition: 10th
• Format: Package
• Copyright: 2005-06-28
• Publisher: McGraw-Hill/Irwin

Summary

Essentials of Marketing is a brief version of Basic Marketing. Basic Marketing and Essentials of Marketing are the first books to develop and present the 4Ps framework (Product, Price, Place, Promotion) which describes the components of the marketing mix and forms the foundation of Marketing. Like Basic Marketing, Essentials of Marketing offers a very thorough integration of the latest marketing themes, topics, and examples woven throughout. While Essentials of Marketing is a brief text, it is not a cut-and-paste of Basic Marketing. It is written carefully, thoroughly and specifically to be suitable for shorter Marketing courses. Author Bill Perreault shows this same dedication to the supplements package. Where most principles of marketing texts have separate supplement authors, Bill Perreault creates every item in the package. This unique involvement ensures quality, accuracy, and reliability

Table of Contents

Marketing's Value to Consumers, Firms, and Society
Marketing---What's It All About?	4	(2)
Marketing Is Important to You	6	(1)
How Should We Define Marketing?	7	(2)
Macro-Marketing	9	(4)
The Role of Marketing in Economic Systems	13	(2)
Marketing's Role Has Changed a Lot over the Years	15	(1)
What Does the Marketing Concept Mean?	16	(2)
Adoption of the Marketing Concept Has Not Been Easy or Universal	18	(1)
The Marketing Concept and Customer Value	19	(3)
The Marketing Concept Applies in Nonprofit Organizations	22	(1)
The Marketing Concept, Social Responsibility, and Marketing Ethics	23	(10)
Conclusion	27	(1)
Key Terms	27	(1)
Questions and Problems	28	(1)
Suggested Cases	29	(1)
Computer-Aided Problem	29	(4)
Marketing Strategy Planning
The Management Job in Marketing	33	(1)
What Is Marketing Strategy Planning?	34	(1)
Selecting a Market-Oriented Strategy Is Target Marketing	34	(2)
Developing Marketing Mixes for Target Markets	36	(5)
The Marketing Plan Is a Guide to Implementation and Control	41	(1)
The Importance of Marketing Strategy Planning	42	(2)
Creative Strategy Planning Needed for Survival	44	(1)
What Are Attractive Opportunities?	45	(1)
Marketing Strategy Planning Process Highlights Opportunities	45	(3)
Types of Opportunities to Pursue	48	(2)
International Opportunities Should Be Considered	50	(7)
Conclusion	51	(1)
Key Terms	51	(1)
Questions and Problems	52	(1)
Suggested Cases	52	(1)
Computer-Aided Problem	53	(4)
Focusing Marketing Strategy with Segmentation and Positioning
Search for Opportunities Can Begin by Understanding Markets	57	(2)
Naming Product-Markets and Generic Markets	59	(2)
Market Segmentation Defines Possible Target Markets	61	(5)
What Dimensions Are Used to Segment Markets?	66	(4)
More Sophisticated Techniques May Help in Segmenting	70	(2)
Differentiation and Positioning Take the Customer Point of View	72	(8)
Conclusion	75	(1)
Key Terms	76	(1)
Questions and Problems	76	(1)
Suggested Cases	76	(1)
Computer-Aided Problem	76	(4)
Evaluating Opportunities in the Changing Marketing Environment
The Marketing Environment	80	(1)
Objectives Should Set Firm's Course	80	(2)
Company Resources May Limit Search for Opportunities	82	(1)
Analyzing Competitors and the Competitive Environment	83	(4)
The Economic Environment	87	(2)
The Technological Environment	89	(1)
The Political Environment	90	(2)
The Legal Environment	92	(2)
The Cultural and Social Environment	94	(4)
Population in the U.S. Consumer Market	98	(3)
Using Screening Criteria to Narrow Down to Strategies	101	(2)
Planning Grids Help Evaluate a Portfolio of Opportunities	103	(1)
Multiproduct Firms Have a Difficult Strategy Planning Job	104	(1)
Evaluating Opportunities in International Markets	104	(6)
Conclusion	105	(1)
Key Terms	106	(1)
Questions and Problems	106	(1)
Suggested Cases	107	(1)
Computer-Aided Problem	107	(3)
Final Consumers and Their Buying Behavior
Consumer Behavior---Why Do They Buy What They Buy?	110	(1)
Consumer Spending Patterns Are Related to Income	110	(2)
The Behavioral Sciences Help You Understand the Buying Process	112	(1)
Psychological Influences within an Individual	113	(8)
Social Influences Affect Consumer Behavior	121	(5)
Individuals Are Affected by the Purchase Situation	126	(1)
Consumers Use Problem-Solving Processes	127	(5)
Consumer Behavior in International Markets	132	(6)
Conclusion	132	(1)
Key Terms	133	(1)
Questions and Problems	133	(1)
Suggested Cases	134	(1)
Computer-Aided Problem	134	(4)
Business and Organizational Customers and Their Buying Behavior
Business and Organizational Customers---A Big Opportunity	138	(1)
Organizational Customers Are Different	138	(3)
Many Different People May Influence a Decision	141	(3)
Organizational Buyers Are Problem Solvers	144	(1)
Buyer--Seller Relationships in Business Markets	145	(4)
Internet E-Commerce Is Reshaping Many Business Markets	149	(5)
Manufacturers Are Important Customers	154	(3)
Producers of Services---Smaller and More Spread Out	157	(1)
Retailers and Wholesalers Buy for Their Customers	158	(1)
The Government Market	159	(7)
Conclusion	161	(1)
Key Terms	162	(1)
Questions and Problems	162	(1)
Suggested Cases	163	(1)
Computer-Aided Problem	163	(3)
Improving Decisions with Marketing Information
Radical Changes Are Underway in Marketing Information	166	(4)
What Is Marketing Research?	170	(1)
The Scientific Method and Marketing Research	171	(1)
Five-Step Approach to Marketing Research	171	(1)
Defining the Problem---Step 1	172	(1)
Analyzing the Situation---Step 2	172	(4)
Getting Problem--Specific Data---Step 3	176	(7)
Interpreting the Data---Step 4	183	(2)
Solving the Problem---Step 5	185	(1)
International Marketing Research	186	(1)
How Much Information Do You Need?	186	(6)
Conclusion	187	(1)
Key Terms	187	(1)
Questions and Problems	187	(1)
Suggested Cases	188	(1)
Computer-Aided Problem	188	(4)
Elements of Product Planning for Goods and Services
The Product Area Involves Many Strategy Decisions	192	(1)
What Is a Product?	192	(3)
Differences in Goods and Services	195	(1)
Whole Product Lines Must Be Developed Too	196	(1)
Product Classes Help Plan Marketing Strategies	196	(1)
Consumer Product Classes---How They Are Defined	197	(3)
Business Product Classes---How They Are Defined	200	(3)
Branding Needs a Strategy Decision Too	203	(1)
Conditions Favorable to Branding	204	(1)
Achieving Brand Familiarity Is Not Easy	204	(2)
Protecting Brand Names and Trademarks	206	(1)
What Kind of Brand to Use?	207	(1)
Who Should Do the Branding?	208	(1)
The Strategic Importance of Packaging	209	(1)
What Is Socially Responsible Packaging?	210	(1)
Warranty Policies Are a Part of Strategy Planning	211	(7)
Conclusion	213	(1)
Key Terms	213	(1)
Questions and Problems	214	(1)
Suggested Cases	215	(1)
Computer-Aided Problem	215	(3)
Product Management and New-Product Development
Managing Products over Their Life Cycles	218	(2)
Product Life Cycles Should Be Related to Specific Markets	220	(2)
Product Life Cycles Vary in Length	222	(2)
Planning for Different Stages of the Product Life Cycle	224	(3)
New-Product Planning	227	(1)
An Organized New-Product Development Process Is Critical	228	(6)
New-Product Development: A Total Company Effort	234	(1)
Need for Product Managers	235	(1)
Managing Product Quality	236	(10)
Conclusion	241	(1)
Key Terms	242	(1)
Questions and Problems	242	(1)
Suggested Cases	242	(1)
Computer-Aided Problem	243	(3)
Place and Development of Channel Systems
Place Decisions Are an Important Part of Marketing Strategy	246	(1)
Place Decisions Are Guided by ``Ideal'' Place Objectives	246	(2)
Channel System May Be Direct or Indirect	248	(3)
Channel Specialists May Reduce Discrepancies and Separations	251	(2)
Channel Relationship Must Be Managed	253	(3)
Vertical Marketing Systems Focus on Final Customers	256	(2)
The Best Channel System Should Achieve Ideal Market Exposure	258	(2)
Channel Systems Can Be Complex	260	(8)
Conclusion	263	(1)
Key Terms	263	(1)
Questions and Problems	263	(1)
Suggested Cases	264	(1)
Computer-Aided Problem	264	(4)
Distribution Customer Service and Logistics
Physical Distribution Gets It to Customers	268	(1)
Physical Distribution Customer Service	269	(2)
Physical Distribution Concept Focuses on the Whole Distribution System	271	(2)
Coordinating Logistics Activities among Firms	273	(3)
The Transporting Function Adds Value to a Marketing Strategy	276	(1)
Which Transporting Alternative Is Best?	277	(3)
The Storing Function and Marketing Strategy	280	(2)
Specialized Storing Facilities May Be Required	282	(2)
The Distribution Center---A Different Kind of Warehouse	284	(6)
Conclusion	284	(1)
Key Terms	285	(1)
Questions and Problems	285	(1)
Suggested Cases	285	(1)
Computer-Aided Problem	286	(4)
Retailers, Wholesalers, and Their Strategy Planning
Wholesalers and Retailers Plan Their Own Strategies	290	(1)
The Nature of Retailing	291	(1)
Planning a Retailer's Strategy	291	(2)
Conventional Retailers---Try to Avoid Price Competition	293	(1)
Expand Assortment and Service---To Compete at a High Price	294	(1)
Evolution of Mass---Merchandising Retailers	294	(3)
Some Retailers Focus on Added Convenience	297	(1)
Retailing on the Internet	298	(4)
Why Retailers Evolve and Change	302	(1)
Retailer Size and Profits	303	(2)
Differences in Retailing in Different Nations	305	(1)
What Is a Wholesaler?	305	(1)
Wholesaling Is Changing with the Times	306	(1)
Wholesalers Add Value in Different Ways	307	(1)
Merchant Wholesalers Are the Most Numerous	308	(3)
Agent Middlemen Are Strong on Selling	311	(2)
What Will Happen to Retailers and Wholesalers in the Future?	313	(5)
Conclusion	313	(1)
Key Terms	314	(1)
Questions and Problems	314	(1)
Suggested Cases	315	(1)
Computer-Aided Problem	315	(3)
Promotion---Introduction to Integrated Marketing Communications
Several Promotion Methods Are Available	318	(3)
Someone Must Plan, Integrate, and Manage the Promotion Blend	321	(2)
Which Methods to Use Depends on Promotion Objectives	323	(1)
Promotion Requires Effective Communication	324	(2)
Integrated Direct-Response Promotion Is Very Targeted	326	(1)
The Customer May Initiate the Communication Process	327	(3)
How Typical Promotion Plans Are Blended and Integrated	330	(2)
Adoption Processes Can Guide Promotion Planning	332	(2)
Promotion Blends Vary over the Life Cycle	334	(3)
Setting the Promotion Budget	337	(7)
Conclusion	338	(1)
Key Terms	338	(1)
Questions and Problems	339	(1)
Suggested Cases	339	(1)
Computer-Aided Problem	340	(4)
Personal Selling
The Importance and Role of Personal Selling	344	(3)
What Kinds of Personal Selling Are Needed?	347	(1)
Order Getters Develop New Business Relationships	347	(2)
Order Takers Nurture Relationships to Keep the Business Coming	349	(1)
Supporting Sales Force Informs and Promotes in the Channel	350	(1)
The Right Structure Helps Assign Responsibility	351	(3)
Information Technology Provides Tools to Do the Job	354	(2)
Sound Selection and Training to Build a Sales Force	356	(1)
Compensating and Motivating Salespeople	357	(3)
Personal Selling Techniques---Prospecting and Presenting	360	(10)
Conclusion	364	(1)
Key Terms	365	(1)
Questions and Problems	365	(1)
Suggested Cases	366	(1)
Computer-Aided Problem	366	(4)
Advertising and Sales Promotion
Advertising, Sales Promotion, and Marketing Strategy Decisions	370	(3)
Advertising Objectives Are a Strategy Decision	373	(1)
Objectives Determine the Kinds of Advertising Needed	374	(2)
Coordinating Advertising Efforts with Cooperative Relationships	376	(1)
Choosing the ``Best'' Medium---How to Deliver the Message	376	(4)
Advertising on the Internet: New Opportunities and New Challenges	380	(3)
Planning the ``Best'' Message---What to Communicate	383	(2)
Advertising Agencies Often Do the Work	385	(1)
Measuring Advertising Effectiveness Is Not Easy	386	(1)
How to Avoid Unfair Advertising	387	(1)
Sales Promotion---Do Something Different to Stimulate Change	388	(2)
Problems in Managing Sales Promotion	390	(1)
Different Types of Sales Promotion for Different Targets	391	(7)
Conclusion	392	(1)
Key Terms	393	(1)
Questions and Problems	393	(1)
Suggested Cases	394	(1)
Computer-Aided Problem	394	(4)
Pricing Objectives and Policies
Price Has Many Strategy Dimensions	398	(2)
Objectives Should Guide Strategy Planning for Price	400	(1)
Profit-Oriented Objectives	401	(1)
Sales-Oriented Objectives	402	(1)
Status Quo Pricing Objectives	403	(1)
Most Firms Set Specific Pricing Policies---To Reach Objectives	404	(1)
Price Flexibility Policies	404	(2)
Price-Level Policies---Over the Product Life Cycle	406	(4)
Most Price Structures Are Built around List Prices	410	(1)
Discount Prices---Reductions from List Prices	411	(2)
Allowance Policies---Off List Prices	413	(1)
Some Customers Get Something Extra	414	(1)
List Price May Depend on Geographic Pricing Policies	415	(1)
Pricing Policies Combine to Impact Customer Value	416	(3)
Legality of Pricing Policies	419	(8)
Conclusion	421	(1)
Key Terms	422	(1)
Questions and Problems	422	(1)
Suggested Cases	423	(1)
Computer-Aided Problem	423	(4)
Price Setting in the Business World
Price Setting Is a Key Strategy Decision	427	(1)
Some Firms Just Use Markups	427	(3)
Average-Cost Pricing Is Common and Can Be Dangerous	430	(1)
Marketing Managers Must Consider Various Kinds of Costs	431	(4)
Break-Even Analysis Can Evaluate Possible Prices	435	(2)
Marginal Analysis Considers Both Costs and Demand	437	(1)
Demand-Oriented Approaches for Setting Prices	438	(6)
Pricing a Full Line	444	(2)
Bid Pricing and Negotiated Pricing Depend Heavily on Costs	446	(9)
Conclusion	447	(1)
Key Terms	448	(1)
Questions and Problems	448	(1)
Suggested Cases	448	(1)
Computer-Aided Problem	449	(6)
Developing Innovative Marketing Plans: Appraisal and Challenges
Marketing Strategy Planning Process Requires Logic and Creativity	455	(2)
The Marketing Plan Brings All the Details Together	457	(3)
How Should Marketing Be Evaluated?	460	(1)
Can Consumer Satisfaction Be Measured?	461	(2)
Micro-Marketing Often Does Cost Too Much	463	(2)
Macro-Marketing Does Not Cost Too Much	465	(2)
Challenges Facing Marketers	467	(6)
How Far Should the Marketing Concept Go?	473	(4)
Conclusion	473	(1)
Questions and Problems	474	(1)
Suggested Cases	475	(2)
Appendix A Economics Fundamentals	477	(14)
Appendix B Marketing Arithmetic	491	(18)
Appendix C Career Planning in Marketing	509	(64)
Video Cases	523	(14)
Suburban Regional Shopping Malls: Can the Magic Be Restored?	524	(2)
Celestial Seasonings	526	(2)
Briggs & Stratton Corporation	528	(1)
Frog's Leap Winery	529	(2)
Girl Scouts	531	(2)
Volkswagen's New Beetle	533	(1)
Royal Appliance Manufacturing Company: Dirt Devil	534	(3)
Cases	537	(36)
McDonald's ``Seniors'' Restaurant	538	(1)
Healthy Foods, Inc.	538	(1)
Pillsbury's Haagen-Dazs	539	(1)
Computer Support Services	540	(1)
ResinTech	541	(1)
Valley Steel Company	542	(1)
Lilybank Lodge	543	(1)
Marie's Ristorante	544	(1)
SleepEasy Motel	544	(2)
Joggers Universe	546	(1)
Applied Chemistry Corporation	547	(1)
Paper Products, Inc.	547	(1)
Multimedia Corral	548	(1)
Growth Enterprises	549	(1)
Matisse Company	550	(1)
Eco Water, Inc.	551	(2)
myWedding.com	553	(1)
Leisure World, Inc.	554	(1)
Lextron International, Inc.	555	(2)
Structural Wire Corporation	557	(1)
Metal Solutions, Inc.	557	(1)
PlastiForm Mfg., Inc.	558	(1)
Riverside Packers, Inc.	559	(1)
QCT, Inc.	560	(1)
Custom Castings, Inc.	561	(1)
Deluxe Foods, Ltd.	562	(1)
Home Nursing Services, Inc.	563	(1)
Lever, Ltd.	564	(2)
Bushman & Associates	566	(2)
Alumco International	568	(1)
Sal's	569	(4)
Computer-Aided Problems	573	(6)
Notes	579	(56)
Illustration Credits	635
Name Index	1	(13)
Subject Index	14
Glossary	1