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Market-Based Management : Strategies for Growing Customer Value and Profitability,9780131469563
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Market-Based Management : Strategies for Growing Customer Value and Profitability

by
Edition:
5th
ISBN13:

9780131469563

ISBN10:
0131469568
Format:
Paperback
Pub. Date:
1/1/2009
Publisher(s):
Prentice Hall
List Price: $140.00
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Customer Reviews

market focused, not product focused  September 8, 2010
by


Great overview of market-based (as opposed to product-driven) marketing management. I used this book in an MBA course I had to take.






Market-Based Management : Strategies for Growing Customer Value and Profitability: 5 out of 5 stars based on 1 user reviews.

Summary

This unique book is built around a performance orientation and the belief that real learning occurs only with the application of knowledge. It emphasizes market-based managementwith a focus on the linkages between marketing strategy and profitability, and provides a systematic method for learners to evaluate the profit impact of a marketing strategy.Coverage that goes beyond marketing fundamentals features a three-fold integration of market-driven strategy, customer satisfaction, and profitable growthgiving readers the tools and techniques for delivering higher levels of customer satisfaction, marketing productivity and profitability. A special effort was made to include more coverage of customer loyalty marketing, performance metrics, customer relationship marketing, and brand and product line strategies.For anyone interested in strategic marketing.

Table of Contents

Preface xviii
About the Author xxi
Acknowledgments xxii
PART I MARKET ORIENTATION AND PERFORMANCE 3(58)
CHAPTER 1 CUSTOMER FOCUS AND MANAGING CUSTOMER LOYALTY
5(30)
Customer Focus and Profitability
5(9)
How to Underwhelm Customers and Shareholders
6(1)
Customer Focus and Customer Satisfaction
6(2)
Customer Satisfaction: A Key Marketing Performance Metric
8(1)
A Wide-Angle View of Customer Satisfaction
8(2)
De-Averaging Customer Satisfaction and Customer Profitability
10(2)
Profit Impact of Customer Dissatisfaction
12(2)
Profit Impact of Customer Retention
14(5)
Customer Satisfaction and Customer Retention
15(1)
Customer Retention and Customer Life Expectancy
16(1)
The Lifetime Value of a Customer
17(2)
Customer Loyalty and Managing Customer Loyalty
19(5)
Measuring Customer Loyalty
19(1)
Customer Loyalty and Customer Relationship Marketing
20(2)
Top Performers
22(1)
Underachievers
22(1)
High Potentials
22(1)
Nonprofits
22(1)
New Customer Acquisition
23(1)
Win-Back Customers
23(1)
Managing Customer Exit
23(1)
Building a Marketing Orientation
24(4)
Marketing Knowledge
25(2)
Marketing Leadership
27(1)
Market Orientation and Employee Satisfaction
28(1)
Summary
28(1)
Market-Based Logic and Strategic Thinking
29(1)
Marketing Performance Tools
30(2)
Notes
32(2)
Appendix 1.1 Present Value Table
34(1)
CHAPTER 2 MARKETING PERFORMANCE AND MARKETING PROFITABILITY
35(26)
Market Versus Financial Performance
36(2)
Marketing Performance
36(1)
A Market-Based Strategy
37(1)
Marketing Performance Metrics
38(2)
Internal Versus External Performance Metrics
39(1)
In-Process Versus End-Result Performance Metrics
39(1)
Marketing Profitability
40(7)
Measuring Marketing Profitability
41(2)
Net Marketing Contribution-Product Focus
43(2)
Net Marketing Contribution and Business Unit Profitability
45(1)
Marketing Profitability-A Customer Focus
46(1)
Marketing Strategies and Profitable Growth
47(4)
Strategies to Grow Market Demand
48(1)
Strategies to Increase Market Share
49(1)
Strategies to Increase Revenue per Customer
49(1)
Strategies to Lower Variable Cost
50(1)
Strategies to Increase Market Efficiency
50(1)
Marketing Profitability Metrics
51(4)
Marketing Return on Sales
51(1)
Marketing Return on Investment
52(2)
Profit Impact of Marketing Profitability Metrics
54(1)
Summary
55(1)
Market-Based Logic and Strategic Thinking
56(1)
Marketing Performance Tools
56(2)
Notes
58(3)
PART II MARKET ANALYSIS 61(138)
CHAPTER 3 MARKET POTENTIAL, MARKET DEMAND, AND MARKET SHARE
63(32)
Market Definition
63(6)
Broad Market Vision
66(1)
Vertical Versus Lateral Market Demand
67(1)
Served Market Definition
68(1)
Market Potential
69(9)
Untapped Market Opportunities
69(1)
Awareness
69(1)
Availability
70(1)
Ability to Use
70(1)
Benefit Deficiency
70(1)
Affordability
71(1)
Market Development Index
72(1)
Market Potential and Market Growth
72(1)
Rate of Market Development
73(1)
Accelerating Market Growth
74(1)
Customer Adoption Forces
75(1)
Product Adoption Forces
75(2)
Market Demand
77(1)
Projecting Future Market Demand
77(1)
Product Life Cycle
78(5)
Market Demand, Prices, and Marketing Expenses
79(1)
Product Life Cycle and Marketing Profitability
80(2)
Generic Product Life Cycle Versus Individual Product Life Cycles
82(1)
Market Share and Share Potential
83(6)
Share Development Tree
83(2)
Product Awareness
85(1)
Product Attractiveness
85(1)
Price Acceptable
86(1)
Product Availability
86(1)
Service Experience
86(1)
Market Share Index
86(1)
Share Potential and Market Share Management
87(1)
Market Share Potential
88(1)
Share Development Index
88(1)
Summary
89(1)
Market-Based Logic and Strategic Thinking
90(1)
Marketing Performance Tools
91(3)
Notes
94(1)
CHAPTER 4 CUSTOMER ANALYSIS AND VALUE CREATION
95(40)
Discovering Customer Benefits
96(9)
A Day in the Life of a Customer
96(1)
Empathic Design
96(2)
Lead User Analysis
98(1)
Staple Yourself to an Order
99(1)
Kano Method
100(1)
The Kano Measurement Process
101(2)
Managing Customer Satisfaction/Dissatisfaction
103(1)
Customer Benefits and Customer Value
104(1)
Life Cycle Costs and Value Creation
105(5)
Low Price
106(1)
Acquisition Costs
106(1)
Usage Costs
106(1)
Ownership Costs
107(1)
Maintenance Costs
107(1)
Disposal Costs
108(2)
Price-Performance and Value Creation
110(3)
Relative Performance
110(1)
Relative Price
110(1)
Customer Value
111(1)
Value Map
112(1)
Perceived Benefits and Value Creation
113(5)
Product Benefits
113(1)
Service Benefits
114(1)
Company or Brand Benefits
115(1)
Overall Customer Benefits
115(1)
Perceived Cost of Purchase
116(1)
Perceived Customer Value
117(1)
Emotional Benefits and Value Creation
118(1)
Emotional Benefits and Psychological Value
118(1)
Brand Personality and Value Creation
118(1)
Transaction Cost and Value Creation
119(3)
Space Value
120(1)
Transaction Value
121(1)
Value Creation Across the Supply Chain
121(1)
Identifying Value Drivers
122(3)
Customer Preferences
123(1)
Customer Value
124(1)
Customer Analysis Tools
125(2)
Discovery Methods
126(1)
Process Methods
126(1)
Tracking Methods
126(1)
Testing Methods
127(1)
Analysis Methods
127(1)
Summary
127(2)
Market-Based Logic and Strategic Thinking
129(1)
Marketing Performance Tools
130(2)
Notes
132(2)
Appendix 4.1 Trade-Off Analysis Computations
134(1)
CHAPTER 5 MARKET SEGMENTATION AND CUSTOMER RELATIONSHIP MARKETING
135(34)
Customer Needs
136(4)
Forces That Shape Consumer Market Needs
136(1)
Demographic Influences
137(1)
Lifestyle Influences
137(1)
Usage Behaviors
137(1)
Forces That Shape Business Market Needs
138(1)
Firmographics
138(1)
Business Culture
139(1)
Usage Behaviors
139(1)
Needs-Based Market Segmentation
140(9)
The Demographic Trap
140(1)
Needs-Based Market Segments
140(1)
Segment Identification
141(2)
Segment Attractiveness
143(2)
Segment Profitability
145(2)
Segment Positioning
147(1)
Segment Strategy Acid Test
148(1)
Segment Marketing Mix Strategy
149(1)
Segmentation Strategies
149(7)
Mass Market Strategy
149(1)
Large Segment Strategy
150(1)
Adjacent Segment Strategies
151(1)
Multi-Segment Strategies
151(2)
Small Segment Strategy
153(1)
Niche Segment Strategies
154(1)
Sub-Segment Strategies
155(1)
Customer Relationship Marketing
156(7)
Customer Value Versus Company Value
157(2)
Database Marketing
159(1)
Mass Personalization
159(1)
Mass Customization
160(2)
Customer Relationship Management
162(1)
Summary
163(1)
Market-Based Logic and Strategic Thinking
164(1)
Marketing Performance Tools
165(2)
Notes
167(2)
CHAPTER 6 COMPETITOR ANALYSIS AND SOURCES OF ADVANTAGE
169(30)
Knowledge Is a Source of Advantage
169(3)
Frontal Attack Strategy
170(1)
Oblique Strategy
171(1)
Competition and Competitive Position
172(2)
Industry Analysis
174(3)
Barriers to Entry
174(1)
Barriers to Exit
175(1)
Customer Buying Power
175(1)
Supplier Selling Power
176(1)
Product Substitutes
176(1)
Competitive Rivalry
176(1)
Prisoner's Dilemma
177(1)
Competitive Position
177(7)
Benchmark Competitors
178(1)
Competitor Analysis
178(2)
Competitor Intelligence
180(1)
A Sample Competitor Analysis
181(2)
Competitive Benchmarking
183(1)
Sources of Competitive Advantage
184(1)
Cost Advantage
185(4)
Variable Cost Advantage
185(2)
Marketing Cost Advantage
187(1)
Operating Cost Advantage
188(1)
Differentiation Advantage
189(2)
Product Advantage
189(1)
Service Advantage
189(1)
Reputation Advantage
190(1)
Marketing Advantage
191(1)
Channel Advantage
191(1)
Sales Force Advantage
191(1)
Brand Awareness
192(1)
Summary
192(1)
Market-Based Logic and Strategic Thinking
193(1)
Marketing Performance Tools
194(2)
Notes
196(3)
PART III MARKETING MIX STRATEGIES 199(128)
CHAPTER 7 PRODUCT POSITIONING, BRANDING, AND PRODUCT LINE STRATEGIES
201(36)
Product Positioning
201(6)
Product Positioning and Market Share
204(1)
Product Positioning Strategies
205(2)
Product Positioning and Differentiation
207(6)
Product Differentiation
207(3)
Service Differentiation
210(2)
Brand Differentiation
212(1)
Low Cost of Purchase
212(1)
Branding and Brand Management Strategies
213(7)
Brand Identity
213(1)
Brand Encoding
214(1)
Company and Product Name
215(3)
Brand Name Development
218(1)
Creating a New Brand Name
218(2)
Brand Equity
220(3)
Brand Assets
220(1)
Brand Liabilities
221(1)
Brand Equity
222(1)
Brand and Product-Line Strategies
223(8)
Product-Line Development
224(1)
Umbrella and Flanker Brands
224(2)
Product-Line Extensions
226(2)
Bundling and Unbundling Strategies
228(1)
Product-Line Substitution Effects
229(1)
Product-Line Scale Effects
230(1)
Summary
231(1)
Market-Based Logic and Strategic Thinking
232(1)
Marketing Performance Tools
233(3)
Notes
236(1)
CHAPTER 8 MARKET BASED PRICING AND PRICING STRATEGIES
237(34)
Understanding Life Cycle Costs
238(3)
Market-Based Pricing
241(5)
Skim Pricing
242(1)
Value-In-Use Pricing
242(1)
Perceived Value Pricing
243(1)
Segment Pricing
244(1)
Strategic-Account Pricing
245(1)
Plus-One Pricing
246(1)
Cost-Based Pricing Strategies
246(6)
Floor Pricing
246(1)
Cost-Plus Pricing
247(1)
Penetration Pricing
248(1)
Low-Cost Leader Pricing
249(1)
Competitive Bid Pricing
250(1)
Harvest Pricing
251(1)
Pricing and Profitability
252(4)
Total Contribution
253(3)
Price Elasticity and Performance
256(5)
Inelastic Price Performance
257(1)
Elastic Price Performance
258(1)
Ease of Switching
259(1)
Supply/Demand Conditions
260(1)
Product-Line Pricing
261(3)
Pricing Substitute Products
261(1)
Pricing Complementary Products
262(2)
Summary
264(1)
Market-Based Logic and Strategic Thinking
265(1)
Marketing Performance Tools
266(4)
Notes
270(1)
CHAPTER 9 MARKETING CHANNELS AND E-MARKETING
271(28)
Marketing Channels and Channel Strategy
272(2)
Marketing Channel Performance
274(3)
Customer Reach
275(1)
Operating Efficiency
276(1)
Service Quality
277(1)
Alternative Channel Systems
277(6)
Direct Channel Systems
277(1)
Indirect Channel Systems
278(2)
Mixed Channel Systems
280(1)
B2C Channels
280(1)
B2B Channels
280(3)
Channel Systems That Build Customer Value
283(5)
Delivering Product Benefits
283(1)
Delivering Service Benefits
284(1)
Building Brand Image
285(1)
Building Company Benefits
285(1)
Improving Cost Efficiency
286(2)
Channel Systems and Competitive Advantage
288(2)
Sales Force Advantage
288(1)
Sales Productivity
288(1)
Distribution Advantage
289(1)
Profit Impact of Alternative Marketing Channels
290(3)
Summary
293(1)
Market-Based Logic and Strategic Thinking
294(1)
Marketing Performance Tools
295(2)
Notes
297(2)
CHAPTER 10 MARKETING COMMUNICATIONS AND CUSTOMER RESPONSE
299(28)
Marketing Communications
300(2)
Strategies to Increase Customer Response
302(2)
Building Customer Awareness and Comprehension
304(6)
Media Selection and Customer Awareness
304(2)
Message Frequency and Customer Awareness
306(2)
Ad Copy and Customer Response
308(2)
Message Reinforcement
310(2)
Message Reinforcement and Pulsing
310(1)
Heavy-Up Message Frequency
311(1)
Stimulating Customer Action
312(1)
Push Versus Pull Communications Strategies
312(1)
Pull Communications and Customer Response
313(5)
Advertising Elasticity
314(1)
Advertising Carryover Effects
315(1)
Direct Marketing Promotions
316(1)
Promotional Price Elasticity
317(1)
Push Communications and Customer Response
318(4)
Trade Promotions and Customer Response
319(1)
Forward Buying and Customer Response
319(3)
Summary
322(1)
Market-Based Logic and Strategic Thinking
323(1)
Marketing Performance Tools
323(2)
Notes
325(2)
PART IV STRATEGIC MARKETING 327(76)
CHAPTER 11 STRATEGIC MARKET PLANNING
329(24)
Product-Market Diversification
329(2)
Two Levels of Diversification
331(1)
Strategic Market Planning Process
332(1)
Business Performance
333(1)
Market Attractiveness
334(2)
Competitive Advantage
336(1)
Portfolio Analysis and Strategic Market Plans
336(7)
Offensive Strategic Market Plans and Performance Impact
340(1)
Defensive Strategic Market Plans and Performance Impact
341(2)
Marketing Mix Strategy and Performance Plan
343(3)
Marketing Mix Strategy
343(1)
Performance Plan
343(3)
Summary
346(1)
Market-Based Logic and Strategic Thinking
347(1)
Marketing Performance Tools
348(4)
Notes
352(1)
CHAPTER 12 OFFENSIVE STRATEGIES
353(24)
Strategic Market Plans
354(1)
Offensive Strategic Market Plans
355(2)
Offensive Core Strategy I: Invest to Grow Sales
357(5)
Offensive Strategy IA: Grow Market Share
357(1)
Offensive Strategy IB: Grow Revenue per Customer
358(1)
Offensive Strategy IC: Enter New-Market Segments
359(1)
Offensive Strategy ID: Expand Market Demand
360(2)
Offensive Core Strategy II: Improve Competitive Position
362(3)
Offensive Strategy IIA: Improve Customer Loyalty and Retention
363(1)
Offensive Strategy IIB: Improve Differentiation Advantage
363(1)
Offensive Strategy IIC: Lower Costs/Improve Marketing Productivity
364(1)
Offensive Strategy IID: Build Marketing Advantage
364(1)
Offensive Core Strategy III: Enter New Markets
365(4)
Offensive Strategy IIIA: Enter Related New Markets
365(1)
Offensive Strategy IIIB: Enter Unrelated New Markets
366(2)
Offensive Strategy IIIC: Enter New Emerging Markets
368(1)
Offensive Strategy IIID: Develop New Markets
368(1)
Choosing Offensive Strategic Market Plans
369(2)
Summary
371(1)
Market-Based Logic and Strategic Thinking
372(1)
Marketing Performance Tools
373(2)
Notes
375(2)
CHAPTER 13 DEFENSIVE STRATEGIES
377(26)
Defensive Strategic Market Plans
378(2)
Defensive Core Strategy I: Protect Position
380(7)
Defensive Strategy IA: Protect Market Share
381(5)
Defensive Strategy IB: Build Customer Retention
386(1)
Defensive Core Strategy II: Optimize Position
387(4)
Defensive Strategy IIA: Maximize Net Marketing Contribution
388(2)
Defensive Strategy IIB: Reduce Market Focus
390(1)
Defensive Core Strategy III: Monetize, Harvest, or Divest
391(4)
Defensive Strategy IIIA: Manage for Cash Flow
391(1)
Defensive Strategy IIIB: Harvest-Divest for Cash Flow
392(3)
Selecting a Defensive Strategy
395(1)
Summary
396(2)
Market-Based Logic and Strategic Thinking
398(1)
Marketing Performance Tools
398(3)
Notes
401(2)
PART V MARKETING PLANS AND PERFORMANCE 403(85)
CHAPTER 14 BUILDING A MARKETING PLAN
405(42)
Creativity Versus Structure
406(1)
Benefits of Building a Marketing Plan
407(1)
Identifying Opportunities
407(1)
Leveraging Core Capabilities
407(1)
Focused Marketing Strategy
407(1)
Resource Allocation
408(1)
Performance Roadmap
408(1)
Building a Marketing Plan: Process and Logic
408(11)
Step I: Situation Analysis
410(1)
Step II: SWOT Analysis
411(1)
Step III: Strategic Market Plan
412(2)
Step IV: Marketing Mix Strategy
414(1)
Step V: Marketing Budget
415(2)
Step VI: Performance Timeline
417(1)
Step VII: Performance Evaluation
417(2)
Sample Marketing Plan
419(4)
Step I: Situation Analysis
419(1)
Step II: SWOT Analysis
420(1)
Step III: Strategic Market Plan
421(1)
Step IV: Marketing Mix Strategy
421(1)
Step V: Marketing Budget
422(1)
Step VI: Marketing Performance Plan
422(1)
Step VII: Performance Evaluation
422(1)
Summary
423(1)
Market-Based Logic and Strategic Thinking
423(1)
Marketing Performance Tools
424(2)
Notes
426(1)
Appendix 14.1 Sample Marketing Plan
427(20)
CHAPTER 15 PERFORMANCE METRICS AND STRATEGY IMPLEMENTATION
447(20)
Marketing Performance Metrics
448(2)
Process Versus End-Result Market Metrics
450(3)
Process Market Metrics
451(1)
End-Result Market Metrics
452(1)
Successful Strategy Implementation
453(7)
Owning the Marketing Plan
453(2)
Supporting the Marketing Plan
455(2)
Adapting the Marketing Plan
457(2)
Assessing Marketing Plan Implementation
459(1)
Variance Analysis: Planned Versus Actual Performance
460(3)
Summary
463(1)
Market-Based Logic and Strategic Thinking
464(1)
Marketing Performance Tools
465(1)
Notes
466(1)
CHAPTER 16 MARKET BASED MANAGEMENT AND FINANCIAL PERFORMANCE
467(21)
Customer Satisfaction and Profitability
468(2)
How Marketing Strategies Affect Profitability
470(4)
Customer Volume
471(1)
Margin per Customer
472(1)
Total Contribution
472(1)
Net Marketing Contribution
473(1)
Net Profit (Before Taxes)
473(1)
How Marketing Strategies Affect Assets
474(4)
Investment in Accounts Receivable
474(1)
Investment in Inventory
475(1)
Investment in Fixed Assets
476(2)
Return Measures of Profitability
478(1)
Measures of Shareholder Value
478(3)
Market-Based Management
481(3)
Summary
484(1)
Market-Based Logic and Strategic Thinking
484(1)
Marketing Performance Tools
485(2)
Notes
487(1)
Glossary 488(8)
Credits 496(1)
Index 497


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