Marketing (with InfoTrac)

by Lamb, Charles W.; Hair, Joe F.; McDaniel, Carl

• ISBN13: 9780324221558
• ISBN10: 032422155X
• Edition: 8th
• Format: Hardcover
• Copyright: 2005-01-05
• Publisher: South-Western College Pub

Summary

The exciting new edition of Marketing continues the established tradition of adding value far beyond the expectations of learners. Extensive research has been done to ensure this edition provides a comprehensive, up-to-the-minute introduction to the field of marketing. 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 provides students with an exhilarating first introduction to the dynamic world of marketing.

Table of Contents

PART 1 The World of Marketing	1	(146)
Cross-Functional Connections: Creating Customer Value Through Effective Cross-functional Interactions	2	(2)
An Overview of Marketing	4	(32)
What Is Marketing?	6	(1)
The Concept of Exchange	6	(1)
Marketing Management Philosophies	7	(2)
Production Orientation	7	(1)
Sales Orientation	7	(1)
Market Orientation	8	(1)
Societal Marketing Orientation	9	(1)
Differences Between Sales and Marketing Orientations	9	(8)
The Organization's Focus	10	(1)
Customer Value	11	(1)
Customer Satisfaction	12	(1)
Building Relationships	12	(2)
The Firm's Business	14	(1)
Those to Whom the Product Is Directed	15	(1)
The Firm's Primary Goal	16	(1)
Tools the Organization Uses to Achieve Its Goals	17	(1)
A Word of Caution	17	(1)
Why Study Marketing?	17	(2)
Marketing Plays an Important Role in Society	17	(1)
Marketing Is Important to Business	18	(1)
Marketing Offers Outstanding Career Opportunities	18	(1)
Marketing Affects Your Life Every Day	18	(1)
Looking Ahead	19	(1)
Looking Back	20	(1)
Use It Now	20	(1)
Review and Applications	20	(1)
Terms	21	(1)
Exercises	22	(1)
Entrepreneurship Case: A Noode for a New Generation	23	(1)
Watch It	24	(3)
Careers in Marketing Appendix	27	(9)
Strategic Planning for Competitive Advantage	36	(32)
The Nature of Strategic Planning	38	(1)
What Is a Marketing Plan?	39	(1)
Why Write a Marketing Plan?	39	(1)
Marketing Plan Elements	39	(1)
Writing the Marketing Plan	40	(1)
Defining the Business Mission	41	(1)
Setting Marketing Plan Objectives	42	(1)
Conducting a Situation Analysis	43	(1)
Competitive Advantage	44	(3)
Cost Competitive Advantages	44	(1)
Product/Service Differentiation Competitive Advantage	45	(1)
Niche Competitive Advantage	46	(1)
Building Sustainable Competitive Advantage	46	(1)
Strategic Directions	47	(3)
Strategic Alternatives	48	(1)
Selecting a Strategic Alternative	49	(1)
Describing the Target Market	50	(1)
Target Market Strategy	50	(1)
The Marketing Mix	51	(2)
Product Strategies	52	(1)
Place (Distribution) Strategies	52	(1)
Promotion Strategies	52	(1)
Pricing Strategies	53	(1)
Following Up on the Marketing Plan	53	(2)
Implementation	53	(1)
Evaluation and Control	54	(1)
Effective Strategic Planning	55	(1)
Looking Back	55	(1)
Use It Now	56	(1)
Review and Applications	56	(3)
Terms	59	(1)
Exercises	60	(1)
Entrepreneurship Case: Cirque du Soleil, The Fire Within	61	(1)
Watch It	62	(2)
Marketing Plan Appendix	64	(4)
Social Responsibility, Ethics, and the Marketing Environment	68	(38)
Corporate Social Responsibility	70	(1)
Ethical Behavior in Business	71	(2)
Morality and Business Ethics	72	(1)
Ethical Decision Making	73	(2)
Ethical Guidelines	73	(2)
The External Marketing Environment	75	(1)
Understanding the External Environment	76	(1)
Environmental Management	76	(1)
Social Factors	77	(3)
American Values	77	(1)
The Growth of Component Lifestyles	78	(1)
The Changing Role of Families and Working Women	79	(1)
Demographic Factors	80	(3)
Generation Y	80	(1)
Generation X	81	(1)
Baby Boomers: America's Mass Market	82	(1)
Older Consumers: Not Just Grandparent	82	(1)
Americans on the Move	83	(1)
Growing Ethnic Markets	83	(4)
Marketing to African Americans	84	(1)
Marketing to Hispanic Americans	84	(1)
Marketing to Asian Americans	85	(1)
Ethnic and Cultural Diversity	86	(1)
Economic Factors	87	(3)
Rising Incomes	87	(1)
Purchasing Power	88	(1)
Inflation	89	(1)
Recession	89	(1)
Technological Factors	90	(1)
Political and Legal Factors	91	(3)
Federal Legislation	91	(2)
State Laws	93	(1)
Regulatory Agencies	93	(1)
Competitive Factors	94	(2)
Competition for Market Share and Profits	94	(1)
Global Competition	95	(1)
The Impact of Terrorism on Business	95	(1)
Looking Back	96	(1)
Use It Now	97	(1)
Review and Applications	97	(3)
Terms	100	(1)
Exercises	101	(1)
Entrepreneurship Case: Rock Star Games: Caught in Their Own Vice	102	(1)
Watch It	103	(3)
Developing a Global Vision	106	(41)
Rewards of Global Marketing	108	(3)
Importance of Global Marketing to the United States	109	(1)
The Fear of Trade and Globalization	109	(1)
Benefits of Globalization	110	(1)
The Impact of Terrorism on Global Trade	111	(1)
Multinational Firms	111	(3)
Global Marketing Standardization	113	(1)
External Environment Facing Global Marketers	114	(9)
Culture	115	(1)
Economic and Technological Development	116	(1)
Political Structure and Actions	116	(5)
Demographic Makeup	121	(1)
Natural Resources	122	(1)
Global Marketing by the Individual Firm	123	(5)
Exporting	123	(1)
Licensing	124	(2)
Contract Manufacturing	126	(1)
Joint Venture	126	(1)
Direct Investment	127	(1)
The Global Marketing Mix	128	(7)
Product and Promotion	128	(3)
Place (Distribution)	131	(2)
Pricing	133	(2)
The Impact of the Internet	135	(1)
Looking Back	136	(1)
Use It Now	136	(2)
Review and Applications	138	(1)
Terms	139	(1)
Exercises	140	(1)
Entrepreneurship Case: MTV: Rocking the World One Nation At a Time	141	(1)
Watch It	142	(2)
Part 1 Closing	144	(3)
Marketing Miscues: Scholastic Stumbles, Even with Market Access	144	(1)
Critical Thinking Case: Vivendi Universal Games: Theft of Source Code for Half-Life 2	145	(1)
Cross-Functional Connections Solutions	146	(1)
PART 2 Analyzing Marketing Opportunities	147	(156)
Cross-Functional Connections: Information Integration Facilitates Market Knowledge	148	(2)
Consumer Decision Making	150	(44)
The Importance of Understanding Consumer Behavior	152	(1)
The Consumer Decision-Making Process	152	(7)
Need Recognition	152	(2)
Information Search	154	(2)
Evaluation of Alternatives and Purchase	156	(1)
Postpurchase Behavior	157	(2)
Types of Consumer Buying Decisions and Consumer Involvement	159	(3)
Factors Determining the Level of Consumer Involvement	160	(1)
Marketing Implications of Involvement	161	(1)
Factors Influencing Consumer Buying Decisions	162	(1)
Cultural Influences on Consumer Buying Decisions	163	(7)
Culture and Values	163	(3)
Understanding Culture Differences	166	(1)
Subculture	166	(2)
Social Class	168	(2)
Social Influences on Consumer Buying Decisions	170	(5)
Reference Groups	170	(2)
Opinion Leaders	172	(1)
Family	173	(2)
Individual Influences on Consumer Buying Decisions	175	(4)
Gender	176	(1)
Age and Family Life-Cycle Stage	176	(1)
Personality, Self-Concept, and Lifestyle	177	(2)
Psychological Influences on Consumer Buying Decisions	179	(8)
Perception	179	(3)
Motivation	182	(1)
Learning	183	(2)
Beliefs and Attitudes	185	(2)
Looking Back	187	(1)
Use It Now	188	(1)
Review and Applications	188	(2)
Terms	190	(1)
Exercises	191	(1)
Entrepreneurship Case: Bucking the Trend: Is ``Family'' the Next Theme Restaurant?	192	(1)
Watch It	193	(1)
Business Marketing	194	(28)
What Is Business Marketing?	196	(1)
Business Marketing on the Internet	196	(3)
Three Illustrations	197	(1)
Potential Unrealized	198	(1)
Relationship Marketing and Strategic Alliances	199	(3)
Strategic Alliances	200	(1)
Relationships in Other Cultures	201	(1)
Major Categories of Business Customers	202	(2)
Producers	202	(1)
Resellers	202	(1)
Governments	203	(1)
Institutions	204	(1)
The North American Industry Classification System	204	(2)
Business versus Consumer Markets	206	(3)
Demand	206	(1)
Purchase Volume	207	(1)
Number of Customers	207	(1)
Location of Buyers	208	(1)
Distribution Structure	208	(1)
Nature of Buying	208	(1)
Nature of Buying Influence	208	(1)
Type of Negotiations	208	(1)
Use of Reciprocity	208	(1)
Use of Leasing	209	(1)
Primary Promotional Method	209	(1)
Types of Business Products	209	(3)
Major Equipment	209	(1)
Accessory Equipment	210	(1)
Raw Materials	210	(1)
Component Parts	210	(1)
Processed Materials	211	(1)
Supplies	211	(1)
Business Services	211	(1)
Business Buying Behavior	212	(4)
Buying Centers	212	(1)
Evaluative Criteria	213	(1)
Buying Situations	214	(1)
Business Ethics	215	(1)
Customer Service	215	(1)
Looking Back	216	(1)
Use It Now	216	(1)
Review and Applications	216	(2)
Terms	218	(1)
Exercises	219	(1)
Entrepreneurship Case: The Segway Company: Reinventing the Wheel	220	(1)
Watch It	220	(2)
Segmenting and Targeting Markets	222	(38)
Market Segmentation	224	(1)
The Importance of Market Segmentation	225	(1)
Criteria for Successful Segmentation	225	(1)
Bases for Segmenting Consumer Markets	226	(11)
Geographic Segmentation	226	(1)
Demographic Segmentation	227	(6)
Psychographic Segmentation	233	(2)
Benefit Segmentation	235	(1)
Usage-Rate Segmentation	236	(1)
Bases for Segmenting Business Markets	237	(1)
Company Characteristics	237	(1)
Buying Processes	237	(1)
Customer Relationship	238	(1)
Steps in Segmenting a Market	238	(1)
Strategies for Selecting Target Markets	239	(4)
Undifferentiated Targeting	240	(1)
Concentrated Targeting	241	(1)
Multisegment Targeting	242	(1)
One-to-One Marketing	243	(1)
Forces Influencing One-to-One Marketing	244	(3)
Increasing Diversity	244	(1)
More Demanding, Time-Poor Consumers	244	(1)
Decreasing Brand Loyalty	245	(1)
Emergence of New Media Alternatives	245	(1)
Demand for Accountability	246	(1)
How Have These Trends Influenced One-to-One Marketing	246	(1)
Privacy Concerns with One-to-One Marketing	247	(2)
Positioning	249	(3)
Perceptual Mapping	249	(1)
Positioning Bases	250	(1)
Repositioning	251	(1)
Looking Back	252	(1)
Use It Now	253	(1)
Review and Applications	253	(3)
Terms	256	(1)
Exercises	256	(1)
Entrepreneurship Case: Viva Las Vegas	257	(1)
Watch It	258	(2)
Decision Support Systems and Marketing Research	260	(43)
Marketing Decision Support Systems	262	(1)
The Role of Marketing Research	263	(3)
Management Uses of Marketing Research	263	(3)
Steps in a Marketing Research Project	266	(16)
Secondary Data	267	(1)
The New Age of Secondary Information: The Internet	268	(2)
Planning the Research Design and Gathering Primary Data	270	(7)
Specifying the Sampling Procedures	277	(2)
Collecting the Data	279	(1)
Analyzing the Data	279	(2)
Preparing and Presenting the Report	281	(1)
Following Up	282	(1)
The Profound Impact of the Internet on Marketing Research	282	(7)
Advantages of Internet Surveys	283	(2)
Uses of the Internet by Marketing Researchers	285	(4)
Scanner-Based Research	289	(1)
When Should Marketing Research Be Conducted?	289	(1)
Competitive Intelligence	290	(2)
Sources of Competitive Intelligence	291	(1)
Looking Back	292	(1)
Use It Now	292	(1)
Review and Applications	292	(3)
Terms	295	(1)
Exercises	295	(1)
Entrepreneurship Case: Cool and How to Find It: Look-Look	296	(1)
Watch It	297	(3)
Part 2 Closing	300	(3)
Marketing Miscues: Remembering the Alamo May Be Painful for Disney	300	(1)
Critical Thinking Case: Tall Magazine Debuts to the Vertically Gifted Crowd	301	(1)
Cross-Functional Connections Solutions	302	(1)
PART 3 Product Decisions	303	(86)
Cross-Functional Connections: Crossing Functional Lines in Speeding Products to Market	304	(2)
Product Concepts	306	(26)
What Is a Product?	308	(1)
Types of Consumer Products	308	(2)
Convenience Products	308	(1)
Shopping Products	309	(1)
Specialty Products	310	(1)
Unsought Products	310	(1)
Product Items, Lines and Mixes	310	(4)
Adjustment to Product Items, Lines, and Mixes	312	(2)
Branding	314	(6)
Benefits of Branding	314	(2)
Branding Strategies	316	(3)
Trademarks	319	(1)
Packaging	320	(4)
Packaging Functions	320	(3)
Labeling	323	(1)
Universal Product Codes	323	(1)
Global Issues in Branding and Packaging	324	(1)
Branding	324	(1)
Packaging	324	(1)
Product Warranties	325	(1)
Looking Back	325	(1)
Use It Now	326	(1)
Review and Applications	326	(2)
Terms	328	(1)
Exercises	328	(1)
Entrepreneurship Case: Finally a Garage Band that Really Rocks	329	(1)
Watch It	330	(2)
Developing and Managing Products	332	(28)
The Importance of New Products	334	(1)
Categories of New Products	334	(1)
The New-Product Development Process	335	(9)
New-Product Strategy	335	(1)
Idea Generation	336	(1)
Idea Screening	337	(1)
Business Analysis	338	(1)
Development	339	(1)
Test Marketing	340	(2)
Commercialization	342	(2)
Global Issues in New-Product Development	344	(2)
The Spread of New Products	346	(2)
Diffusion of Innovation	346	(1)
Product Characteristics and the Rate of Adoption	347	(1)
Marketing Implications of the Adoption Process	348	(1)
Product Life Cycles	348	(5)
Introductory Stage	349	(1)
Growth Stage	350	(1)
Maturity Stage	350	(1)
Decline Stage	351	(2)
Implications for Marketing Management	353	(1)
Looking Back	353	(1)
Use It Now	353	(1)
Review and Applications	354	(1)
Terms	355	(1)
Exercises	355	(1)
Entrepreneurship Case: Valvoline: Coming to a Pep Rally Near You	356	(1)
Watch It	357	(3)
Services and Nonprofit Organization Marketing	360	(29)
The Importance of Services	362	(1)
How Services Differ from Goods	363	(1)
Intangibility	363	(1)
Inseparability	363	(1)
Heterogeneity	364	(1)
Perishability	364	(1)
Service Quality	364	(3)
The Gap Model of Service Quality	365	(2)
Marketing Mixes for Services	367	(5)
Product (Service) Strategy	367	(2)
Place (Distribution) Strategy	369	(1)
Promotion Strategy	370	(1)
Price Strategy	370	(2)
Relationship Marketing in Services	372	(2)
Internal Marketing in Service Firms	374	(1)
Global Issues in Services Marketing	375	(1)
Nonprofit Organization Marketing	375	(5)
What Is Nonprofit Organization Marketing?	376	(1)
Unique Aspects of Nonprofit Organization Marketing Strategies	376	(4)
Looking Back	380	(1)
Use It Now	380	(1)
Review It	380	(2)
Terms	382	(1)
Exercises	382	(1)
Entrepreneurship Case: Cast in the Leading Role: Playbill Shines	383	(1)
Watch It	384	(2)
Part 3 Closing	386	(3)
Marketing Miscues: The Boston Ballet Gets Evicted	386	(1)
Critical Thinking Case: Twister Moves-The Cool Hip Dance Version of the Classic Game of Twister	387	(1)
Cross-Functional Solutions	388	(1)
PART 4 Distribution Decisions	389	(86)
Cross-Functional Connections: Cross-Functional Collaboration in Managing Distribution	390	(2)
Marketing Channels and Supply Chain Management	392	(42)
Marketing Channels	394	(3)
Providing Specialization and Division of Labor	394	(1)
Overcoming Discrepancies	394	(1)
Providing Contact Efficiency	395	(2)
Channel Intermediaries and Their Functions	397	(2)
Channel Functions Performed by Intermediaries	398	(1)
Channel Structures	399	(5)
Channels for Consumer Products	400	(1)
Channels for Business and Industrial Products	401	(1)
Alternative Channel Arrangements	402	(2)
Supply Chain Management	404	(2)
Benefits of Supply Chain Management	405	(1)
Making Channel Strategy Decisions	406	(4)
Factors Affecting Channel Choice	406	(2)
Levels of Distribution Intensity	408	(2)
Managing Channel Relationships	410	(2)
Channel Power, Control, and Leadership	410	(1)
Channel Conflict	410	(2)
Channel Partnering	412	(6)
Managing the Logistical Components of the Supply Chain	412	(1)
Sourcing and Procurement	413	(1)
Production Scheduling	413	(2)
Order Processing	415	(1)
Inventory Control	415	(2)
Warehousing and Materials-Handling	417	(1)
Transportation	417	(1)
Trends in Supply Chain Management	418	(2)
Advanced Computer Technology	418	(1)
Outsourcing Logistics Functions	419	(1)
Electronic Distribution	420	(1)
Channels and Distribution Decisions for Global Markets	420	(3)
Developing Global Marketing Channels	420	(2)
Global Logistics and Supply Chain Management	422	(1)
Channels and Distribution Decisions for Services	423	(2)
Looking Back	425	(1)
Use It Now	425	(1)
Review and Applications	426	(3)
Terms	429	(1)
Exercises	429	(2)
Entrepreneurship Case: CarsDirect.com: Driving Car Buyers to the Internet	431	(1)
Watch It	432	(1)
Still Shaky	433	(1)
Retailing	434	(41)
The Role of Retailing	436	(1)
Classification of Retail Operations	437	(1)
Ownership	437	(1)
Level of Service	437	(1)
Product Assortment	437	(1)
Price	438	(1)
Major Types of Retail Operations	438	(7)
Department Stores	438	(1)
Specialty Stores	439	(1)
Supermarkets	439	(2)
Drugstores	441	(1)
Convenience Stores	441	(1)
Discount Stores	441	(3)
Restaurants	444	(1)
Nonstore Retailing	445	(6)
Automatic Vending	445	(1)
Direct Retailing	446	(1)
Direct Marketing	447	(1)
Electronic Retailing	448	(3)
Franchising	451	(2)
Retail Marketing Strategy	453	(10)
Defining a Target Market	453	(1)
Choosing the Retailing Mix	454	(9)
New Developments in Retailing	463	(1)
Interactivity	463	(1)
M-commerce	463	(1)
Looking Back	464	(1)
Use It Now	464	(1)
Review and Applications	464	(2)
Terms	466	(1)
Exercises	467	(1)
Entrepreneurship Case: Best Buy Gives a Whole New Meaning to ``Thousands of Possiblities. Get Yours.''	468	(4)
Part 4 Closing	472	(3)
Marketing Miscues: Comic Book Distribution Methods Define (and Shrink) Audience	472	(1)
Critical Thinking Case: Hollywood Refuses easy Cinema's Distribution Request	473	(1)
Cross-Functional Solutions	474	(1)
PART 5 Promotion Decisions	475	(106)
Cross-Functional Connections: Integrating Marketing Communications for Increased Firm Value	476	(2)
Integrated Marketing Communications	478	(30)
The Role of Promotion in the Marketing Mix	480	(1)
The Promotional Mix	481	(3)
Advertising	481	(1)
Public Relations	481	(2)
Sales Promotion	483	(1)
Personal Selling	484	(1)
Marketing Communication	484	(5)
The Communication Process	485	(3)
The Communication Process and the Promotional Mix	488	(1)
The Goals and Tasks of Promotion	489	(2)
Informing	489	(1)
Persuading	490	(1)
Reminding	490	(1)
Promotional Goals and the AIDA Concept	491	(3)
AIDA and the Promotional Mix	492	(2)
Factors Affecting the Promotional Mix	494	(4)
Nature of the Product	494	(1)
Stage in the Product Life Cycle	495	(1)
Target Market Characteristics	496	(1)
Type of Buying Decision	496	(1)
Available Funds	496	(1)
Push and Pull Strategies	497	(1)
Integrated Marketing Communications	498	(1)
Looking Back	499	(1)
Use It Now	499	(1)
Review and Applications	500	(2)
Terms	502	(1)
Exercises	502	(2)
Entrepreneurship Case: Nantucket Nectars: Blending Marketing Methods for a Juicy Success	504	(1)
Watch It	505	(3)
Advertising and Public Relations	508	(34)
The Effects of Advertising	510	(2)
Advertising and Market Share	510	(1)
The Effects of Advertising on Consumers	511	(1)
Major Types of Advertising	512	(3)
Institutional Advertising	512	(1)
Product Advertising	512	(3)
Creative Decisions in Advertising	515	(6)
Identifying Product Benefits	516	(1)
Developing and Evaluating Advertising Appeals	516	(1)
Executing the Message	517	(3)
Post-Campaign Evaluation	520	(1)
Media Decisions in Advertising	521	(9)
Media Types	522	(4)
Media Selection Considerations	526	(3)
Media Scheduling	529	(1)
Public Relations	530	(3)
Major Public Relations Tools	531	(2)
Managing Unfavorable Publicity	533	(1)
Looking Back	534	(1)
Use It Now	535	(1)
Review and Applications	535	(2)
Terms	537	(1)
Exercises	537	(2)
Entrepreneurship Case: The Move from TV to TiVo	539	(1)
Watch It	540	(2)
Sales Promotion and Personal Selling	542	(39)
Sales Promotion	544	(1)
The Objectives of Sales Promotion	544	(1)
Tools for Consumer Sales Promotion	545	(7)
Coupons and rebates	546	(1)
Premiums	547	(1)
Loyalty Marketing Programs	548	(1)
Comtests and Sweepstakes	549	(1)
Sampling	549	(1)
Point-of-Purchase Promotion	550	(1)
Online Sales Promotion	551	(1)
Tools for Trade Sales Promotion	552	(1)
Personal Selling	553	(1)
Relationship Selling	554	(2)
Steps in the Selling Process	556	(8)
Generating Leads	557	(1)
Qualifying Leads	558	(1)
Approaching the Customer and Probing Needs	559	(2)
Developing and Proposing Solutions	561	(1)
Handling Objections	562	(1)
Closing the Sale	563	(1)
Following Up	563	(1)
Sales Management	564	(7)
Defining Sales Goals and the Sales Process	565	(1)
Determining the Sales Force Structure	565	(1)
Recruiting and Training the Sales Force	566	(1)
Compensating and Motivating the Sales Force	567	(2)
Evaluating the Sales Force	569	(1)
The Impact of Technology on Personal Selling	570	(1)
Looking Back	571	(1)
Use It Now	571	(1)
Review and Applications	571	(3)
Terms	574	(1)
Exercises	574	(1)
Entrepreneurship Case: Varsity Group: The Campus Bookstore Alternative	575	(1)
Watch It	576	(2)
Part 5 Closing	578	(3)
Marketing Miscues: Who's On First? Not Spiderman!	578	(1)
Critical Thinking: Addidas Takes Human Billboards to New Heights	579	(1)
Cross-Functional Solutions	580	(1)
PART 6 Pricing Decisions	581	(72)
Cross-Functional Connections: Pricing to Satisfy Both Internal and External Demands	582	(2)
Pricing Concepts	584	(34)
The Importance of Price	586	(1)
What Is Price?	586	(1)
The Importance of Price to Marketing Managers	586	(1)
Pricing Objectives	587	(4)
Profit-Oriented Pricing Objectives	587	(1)
Sales-Oriented Pricing Objectives	587	(3)
Status Quo Pricing Objectives	590	(1)
The Demand Determinant of Price	591	(6)
The Nature of Demand	591	(2)
Elasticity of Demand	593	(3)
The Power of Yield Management Systems	596	(1)
The Cost Determinant of Price	597	(6)
Markup Pricing	599	(1)
Profit Maximization Pricing	600	(1)
Break-Even Pricing	600	(3)
Other Determinants of Price	603	(7)
Stages in the Product Life Cycle	603	(1)
The Competition	603	(1)
Distribution Strategy	604	(1)
The Impact of the Internet and Extranets	604	(4)
Promotion Strategy	608	(1)
Demands of Large Customers	608	(1)
The Relationship of Price to Quality	608	(2)
Looking Back	610	(1)
Use it Now	610	(1)
Review and Applications	610	(3)
Terms	613	(1)
Exercises	613	(1)
Entrepreneurship Case: HDnet Aims to Redefine Television	614	(1)
Watch It	615	(3)
Setting the Right Price	618	(35)
How to Set a Price on a Product	620	(5)
Establish Pricing Goals	620	(1)
Estimate Demand, Costs, and Profits	620	(1)
Choose a Price Strategy	621	(4)
The Legality and Ethics of Price Strategy	625	(3)
Unfair Trade Practices	625	(1)
Price Fixing	625	(1)
Price Discrimination	626	(1)
Predatory Pricing	626	(1)
State Efforts to Drive Down Drug Prices	627	(1)
Tactics for Fine-Tuning the Base Price	628	(10)
Discounts, Allowances, Rebates, and Value Pricing	628	(3)
Geographic Pricing	631	(1)
Other Pricing Tactics	632	(5)
Consumer Penalties	637	(1)
Product Line Pricing	638	(1)
Relationships among Products	638	(1)
Joint Costs	638	(1)
Pricing during Difficult Economic Times	639	(4)
Inflation	639	(2)
Recession	641	(2)
Looking Back	643	(1)
Use it Now	643	(1)
Review and Applications	644	(2)
Terms	646	(1)
Exercises	646	(1)
Entrepreneurship Case: Disconnecting Cable Channels from Pricing Bundles	647	(1)
Watch It	648	(2)
Part 6 Closing	650	(3)
Marketing Miscues: Will Knott's Berry Farm Attract Visitors, Start a Price War or Decrease Revenue	650	(1)
Critical Thinking Case: Apple Bites into Online Music Sales	651	(1)
Cross-Functional Solutions	652	(1)
PART 7 Technology-Driven Marketing	653	(38)
Cross-Functional Connections: The Facilitating Role of Technology	654	(2)
Internet Marketing	656	(2)
Chapter 19 is available online at http://lamb. swlearning.com.
Customer Relationship Management (CRM)	658	(33)
What Is Customer Relationship Management?	660	(3)
The Customer Relationship Management Cycle	660	(2)
Implementing a Customer Relationship Management System	662	(1)
Identify Customer Relationships	663	(2)
Understand Interactions with the Current Customer Base	665	(2)
Capture Customer Data	667	(1)
Store and Intergrate Data	668	(2)
Indentifying the Best Customers	670	(4)
Data Mining	671	(3)
Leverage Customer Information	674	(7)
Campaign Management	674	(1)
Retaining Loyal Customers	675	(1)
Cross-Selling Other Products and Services	676	(1)
Designing Targeted Marketing Communications	676	(1)
Reinforcing Customer Purchase Decisions	677	(1)
Inducing Product Trial by New Customers	677	(1)
Increasing Effectiveness of Distribution Channel Marketing	678	(1)
Improving Customer Service	679	(1)
Privacy Concerns and CRM	679	(2)
Looking Back	681	(1)
Use It Now	681	(1)
Review and Applications	681	(2)
Terms	683	(1)
Exercises	684	(1)
Entrepreneurship Case: Green Hills Farms: Beating the Big Stores One Customer at a Time	685	(1)
Watch It	686	(2)
Part 7 Closing	688	(3)
Marketing Miscues: Google in a Trademark Struggle Over Its Keyword Ads	688	(1)
Critical Thinking Case: Will Tickle, Inc., Lead the New Revolution of Internet Social Networking?	689	(1)
Cross-Functional Solutions	690	(1)
Glossary	691	(11)
Endnotes	702	(16)
Index	718