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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