Table of contents for Marketing management : a strategic decision-making approach / John W. Mullins, Orville C. Walker Jr.

Bibliographic record and links to related information available from the Library of Congress catalog.

Note: Contents data are machine generated based on pre-publication provided by the publisher. Contents may have variations from the printed book or be incomplete or contain other coding.

1 The Marketing Management
Process 2
RedEnvelope?Marketing Upscale Gifts Online 2
A New Mission and Strategy 2
The New Marketing Plan 2
The Results 4
Marketing Challenges Addressed in Chapter 1 4
Why Are Marketing Decisions Important? 4
The Importance of the Top Line 5
Marketing Creates Value by Facilitating Exchange
Relationships 5
What Factors Are Necessary for a Successful
Exchange Relationship? 6
1. Who Markets and Who Buys? The Parties in
an Exchange? 6
2. Customer Needs and Wants 7
3. What Gets Exchanged? Products and
Services 10
4. How Exchanges Create Value 10
5. Defining a Market 12
What Does Effective Marketing Practice Look
Like? 13
Marketing Management?A Definition 13
Integrating Marketing Plans with the Company?s
Strategies and Resources 15
Market Opportunity Analysis 16
Formulating Strategic Marketing Programs 17
Formulating Strategic Marketing Programs for
Specific Situations 18
Implementation and Control of the Marketing
Program 19
The Marketing Plan?a Blueprint for
Action 20
Who Does What? 21
Marketing Institutions 21
Who Pays the Cost of Marketing Activities?and
Are They Worth It? 22
Room for Improvement in Marketing
Efficiency 23
The Role of the Marketing Decision Maker 24
Some Recent Developments Affecting Marketing
Management 24
Globalization 25
Increased Importance of Service 25
Information Technology 25
Relationships across Functions and Firms 27
Take-aways 27
Endnotes 28
2 The Marketing Implications of
Corporate and Business
Strategies 30
IBM Switches Strategies 30
Technology Changes and Competitor Actions
Require a Shift in Strategy 30
A New Corporate Strategy 32
New Business and Marketing Strategies 32
The Bottom Line 33
Marketing Challenges Addressed in Chapter 2 33
What Is Marketing?s Role in Formulating and
Implementing Strategies? 34
Market-Oriented Management 35
Does Being Market-Oriented Pay? 36
Factors That Mediate Marketing?s Strategic
Role 37
Three Levels of Strategy: Similar Components, but
Different Issues 39
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Strategy: A Definition 39
The Components of Strategy 40
The Hierarchy of Strategies 40
Corporate Strategy 40
Business-Level Strategy 42
Marketing Strategy 42
The Marketing Implications of Corporate Strategy
Decisions 42
Corporate Scope?Defining the Firm?s
Mission 43
Corporate Objectives 46
Corporate Growth Strategies 48
Allocating Corporate Resources 51
The Marketing Implications of Business-Unit
Strategy Decisions 56
How Should Strategic Business Units Be
Designed? 58
The Business Unit?s Objectives 58
The Business Unit?s Competitive Strategy 58
Take-aways 60
Endnotes 61
Appendix 2.1 The American Marketing Association?s
Code of Ethics 63
3 Environmental Analysis: Tools to
Identify Attractive Markets 66
The Changing American Menswear Market 66
The Impact of Macroenvironmental Trends 66
What?s Next? Will Suits Come Back? 67
Marketing Challenges Addressed in Chapter 3 67
Swimming Upstream or Downstream: An Important
Strategic Choice 68
Macro Trend Analysis: A Framework for Assessing
Market Attractiveness 68
The Demographic Environment 69
The Sociocultural Environment 70
The Economic Environment 72
The Political/Legal Environment 73
The Technological Environment 75
The Physical Environment 77
Environmental Analysis Guides Marketing Decision
Making 78
Prioritizing Trend Categories 78
Information Sources and Outputs of Macro
Trend Analysis 79
Anticipating and Responding to Environmental
Change 80
Take-aways 81
Endnotes 81
4 Industry Analysis and Competitive
Advantage 84
The Cellular Telephone Business: Increasing
Competition in a Growing Market 84
Cell Phone Manufacturing 84
Cell Phone Service Providers 84
Marketing Challenges Addressed in Chapter 4 85
Markets and Industries: What?s the Difference? 85
Defining Markets and Industries: Levels of
Analysis 86
Challenges in Market and Industry
Definition 86
Your Market Is Attractive: What About Your
Industry? 88
Driving Forces 88
Porter?s Five Competitive Forces 91
A Five Forces Analysis of the Cellular Phone
Service Industry 91
Changing Competition and Industry
Evolution 91
Critical Success Factors: Who Wins within an
Industry? 92
Industry Analysis Locally: How Intense Is the
Immediate Competition? 93
Rate of Diffusion of Innovations: Another Factor in
Assessing Opportunity Attractiveness 94
The Adoption Process 94
The Rate of Adoption 94
Adopter Categories 95
Implications of Diffusion of Innovation Theory
for Forecasting Sales of New Products and New
Firms 96
Sustaining Competitive Advantage over the Product
Life Cycle 97
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Life-Cycle Curves 97
Market and Competitive Implications of Product
Life-Cycle Stages 99
Strategic Implications and Limitations of the
Product Life Cycle 102
Take-aways 103
Endnotes 103
5 Understanding Consumer Buying
Behavior 106
Cruise Ships?Not Just for Grandma and Grandpa
Anymore 106
Savvy Marketing Helped Fuel Industry
Growth 106
Future Challenges 107
Marketing Challenges Addressed in Chapter 5 108
The Psychological Importance of the Purchase
Affects the Decision-Making Process 109
How Do Consumers Make High-Involvement
Purchase Decisions? 109
Low-Involvement Purchase Decisions 116
Understanding the Target Consumer?s Level
of Involvement Enables Better Marketing
Decisions 117
Why People Buy Different Things?the Marketing
Implications of Psychological and Personal
Influences 119
Perception and Memory 119
Needs and Attitudes 121
Demographics and Lifestyle 123
Why People Buy Different Things: Part 2?the
Marketing Implications of Social Influences 125
Culture 125
Social Class 126
Reference Groups 126
The Family 127
Take-aways 127
Endnotes 128
6 Understanding Organizational Markets
and Buying Behavior 130
Exel: Building Long-Term Relationships with
Organizational Buyers 130
Delivering Printing Systems in the
Netherlands 130
Marketing Challenges Addressed in Chapter 6 131
Who Is the Customer? 132
A Comparison of Organizational versus
Consumer Markets 132
What Do the Unique Characteristics of
Organizational Markets Imply for Marketing
Programs? 134
The Organizational Customer Is Usually a Group
of Individuals 134
How Organizational Members Make Purchase
Decisions 137
Types of Buying Situations 137
The Purchase Decision-Making Process 138
The Marketing Implications of Different
Organizational Purchasing Situations 144
Purchasing Processes in Government
Markets 145
Selling Different Kinds of Goods and Services to
Organizations Requires Different Marketing
Programs 146
Raw Materials 146
Component Materials and Parts 148
Installations 148
Accessory Equipment 149
Operating Supplies 149
Business Services 149
Take-aways 150
Endnotes 150
7 Measuring Market Opportunities:
Forecasting and Market
Research 152
African Communications Group: Bringing Modern
Telecommunications to Tanzania 152
Market Analysis 152
Industry Analysis 153
Consumer Needs and Behavior 153
The Business Idea 153
Determining Market Potential and Preparing a
Sales Forecast 153
Marketing Challenges Addressed in Chapter 7 154
Every Forecast Is Wrong! 154
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A Forecaster?s Toolkit: ATool for Every Forecasting
Setting 155
Statistical and Other Quantitative Methods 156
Observation 157
Surveys 157
Analogy 158
Judgment 159
Market Tests 159
Mathematics Entailed in Forecasting 160
Cautions and Caveats in Forecasting 161
Keys to Good Forecasting 161
Biases in Forecasting 162
Why Data? Why Marketing Research? 162
Market Knowledge Systems: Charting a Path toward
Competitive Advantage 163
Internal Records Systems 163
Marketing Databases 164
Competitive Intelligence Systems 166
Client Contact and Salesforce Automation
Systems 166
Other Kinds of Market Knowledge
Systems 168
Marketing Research Resolves Specific Marketing
Challenges 168
Step l: Identify the Managerial Problem and
Establish Research Objectives 168
Step 2: Determine the Data Sources and Types
of Data Required 169
Step 3: Design the Research 172
Step 4: Collect the Data 174
Step 5: Analyze the Data 175
Step 6: Report the Results to the Decision
Maker 175
What Users of Marketing Research Should Ask 176
Rudimentary Competence: Are We There Yet? 176
Take-aways 177
Endnotes 177
8 Market Segmentation and Target
Marketing 180
Blue Ribbon Sports Targets Distance Runners 180
The Unique Needs of Distance Runners 180
The Waffle Revolution 180
Launching and Expanding the Nike Brand 181
World Cup 2002 181
Marketing Challenges Addressed in Chapter 8 181
Why Do Market Segmentation and Target Marketing
Make Sense? 182
Most Markets Are Heterogeneous 182
Today?s Market Realities Often Make
Segmentation Imperative 183
How Are Market Segments Best Defined? 184
Demographic Descriptors 184
Geographic Descriptors 186
Geodemographic Descriptors 186
Behavioral Descriptors 187
Innovative Segmentation: A Key to Marketing
Breakthroughs 189
Choosing Attractive Market Segments: A Five-Step
Process 190
Step 1: Select Market-Attractiveness and
Competitive-Position Factors 191
Step 2: Weight Each Factor 193
Step 3: Rate Segments on Each Factor, Plot
Results on Matrices 193
Step 4: Project Future Position for Each
Segment 194
Step 5: Choose Segments to Target, Allocate
Resources 195
Different Targeting Strategies Suit Different
Opportunities 196
Niche-Market Strategy 197
Mass-Market Strategy 197
Growth-Market Strategy 197
Global Market Segmentation 197
Take-aways 198
Endnotes 198
9 Differentiation and Positioning 200
Repositioning French Wine 200
Marketing Challenges Addressed in Chapter 9 200
Differentiation: One Key to Customer Preference and
Competitive Advantage 201
Differentiation in Business Strategies 202
Differentiation among Goods and Services 203
Physical Positioning 203
Limitations of Physical Positioning 204
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Perceptual Positioning 204
Levers Marketers Can Use to Establish
Positioning 205
Preparing the Foundation for Marketing Strategies:
The Positioning Process 206
Step 1: Identify a Relevant Set of Competitive
Products 207
Step 2: Identify Determinant Attributes 207
Step 3: Collect Data about Customers?
Perceptions for Products in the Competitive
Set 209
Step 4: Analyze the Current Positions of
Products in the Competitive Set 209
Step 5: Determine Customers? Most Preferred
Combination of Attributes 211
Step 6: Consider Fit of Possible Positions
with Customer Needs and Segment
Attractiveness 212
Step 7: Write Positioning Statement or Value
Proposition to Guide Development of Marketing
Strategy 214
Analytical Tools for Positioning Decision
Making 216
Take-aways 218
Endnotes 218
10 Business Strategies: A Foundation for
Marketing Program Decisions 220
Business Strategies and Marketing Programs
at 3M 220
Marketing Challenges Addressed in Chapter 10 221
How Do Businesses Compete? 223
Generic Business-Level Competitive
Strategies 223
Do the Same Competitive Strategies Work for
Single-Business Firms and Start-ups? 225
Do the Same Competitive Strategies Work for
Service Businesses? 226
Do the Same Competitive Strategies Work for
Global Competitors? 227
Will the Internet Change Everything? 228
How Do Competitive Strategies Differ from One
Another? 229
Differences in Scope 229
Differences in Goals and Objectives 230
Differences in Resource Deployments 231
Differences in Sources of Synergy 231
Deciding When a Strategy Is Appropriate:
The Fit between Business Strategies and the
Environment 232
Appropriate Conditions for a Prospector
Strategy 232
Appropriate Conditions for an Analyzer
Strategy 234
Appropriate Conditions for a Defender
Strategy 234
How Different Business Strategies Influence
Marketing Decisions 235
Product Policies 237
Pricing Policies 238
Distribution Policies 238
Promotion Policies 238
What If the Best Marketing Program for a
Product Does Not Fit the Business?s Competitive
Strategy? 239
Take-aways 240
Endnotes 241
11 Product Decisions 242
Product Decisions in a Services Business 242
Marketing Challenges Addressed in Chapter 11 243
Product Design Decisions for Competitive
Advantage 244
Goods and Services: Are the Product Decisions
the Same? 245
Product Quality and Features Decisions 247
Branding Decisions 248
Packaging Decisions 251
Services Decisions and Warranties 251
Managing Product Lines for Customer Appeal and
Profit Performance 252
Line Filling 253
Line Stretching 254
Line Extensions 254
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Brand Extensions 254
Dropping Products 255
Product Systems 255
New Product Development Process Decisions 255
The Importance of New Products to Long-Term
Profitability 256
New Product Success and Failure 256
Organizing for New Product Development 257
Key Decisions in the New Product Development
Process 258
Take-aways 265
Endnotes 266
12 Pricing Decisions 268
Ryanair: Low Prices but High Profits?So Far 268
Marketing Challenges Addressed in Chapter 12 269
A Process for Making Pricing Decisions 270
Strategic Pricing Objectives 270
Estimating Demand and Perceived Value 274
Estimating Costs 276
Analyzing Competitors? Costs and Prices 278
Methods Managers Use to Determine an Appropriate
Price Level 278
Cost-Oriented Methods 278
Competition-Oriented Methods 281
Customer-Oriented Methods 283
Deciding on a Price Structure: Adapting Prices to
Market Variations 286
Geographic Adjustments 286
Global Adjustments 287
Discounts and Allowances 288
Differential Pricing 290
Product-Line Pricing Adjustments 291
Take-aways 292
Endnotes 293
13 Distribution Channel Decisions 294
Changing Global Retail Trends Send a ?Get Well?
Greeting to Hallmark 294
Marketing Challenges Addressed in Chapter 13 295
Why Do Multifirm Marketing Channels Exist? 296
Designing Distribution Channels: What Are the
Objectives to Be Accomplished? 297
Product Availability 299
Meeting Customers? Service Requirements 299
Promotional Effort 300
Market Information 300
Cost-Effectiveness 300
Flexibility 301
Designing Distribution Channels: What Kinds of
Institutions Might Be Included? 301
Merchant Wholesalers 301
Agent Middlemen 302
Retailers 302
Nonstore Retailing 303
Channel Design Alternatives 305
Alternative Consumer Goods Channels 305
Alternative Industrial Goods Channels 306
Which Alternative Is Best? It Depends on the Firm?s
Objectives and Resources 307
Availability and the Satisfaction of Customer
Service Requirements 307
Promotional Effort, Market Information, and
Postsale Service Objectives 309
Cost-Effectiveness 310
Flexibility 312
Multichannel Distribution 312
Channel Design for Global Markets 313
Market Entry Strategies 313
Channel Alternatives 314
Channel Design for Services 315
Channel Management Decisions 316
Vertical Marketing Systems 316
Sources of Channel Power 319
Channel Control Strategies 320
Trade Promotions?Incentives for Motivating
Channel Members 321
Channel Conflicts and Resolution
Strategies 323
Take-aways 324
Endnotes 325
14 Integrated Promotion
Decisions 326
Integrated Marketing Communication Takes on Some
New Twists 326
Larazade 326
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Big Brother 326
What?s Next? 327
Marketing Challenges Addressed in Chapter 14 327
The Promotion Mix: A Communication Toolkit 328
Developing an Integrated Marketing
Communications Plan 329
Step 1: Define the Audience(s) to Be
Targeted 329
Step 2: Set the Promotional Objectives 330
Step 3: Set the Promotion Budget 331
Step 4: Design the Promotion Mix 332
Step 5: Evaluate the Results 333
The Nitty-Gritty of Promotional Decision
Making 334
Making Advertising Decisions 334
Making Personal Selling Decisions 344
Organizing the Sales Effort in Global
Markets 344
Customer Service: An Increasingly Important
Personal Selling Function 346
Using Technology to Enhance Sales and Customer
Service Performance 347
Recruiting, Training, and Compensating Salespeople:
The Keys to Salesforce Performance 348
Evaluating and Controlling Salesforce Performance
to Ensure Delivery of Budgeted Results 348
Making Sales Promotion Decisions 349
Making Public Relations Decisions 350
Take-aways 351
Endnotes 351
15 Marketing Strategies for the New
Economy 354
Chocolate Company Sweetens the Web 354
Thorntons Goes Online 354
Sweet Rewards 354
Marketing Challenges Addressed in Chapter 15 355
Does Every Company Need a New-Economy
Strategy? 356
Threats or Opportunities? The Inherent Advantages
and Disadvantages of the New Economy for
Marketers 358
The Syndication of Information 358
Increasing Returns to Scale of Network
Products 359
The Ability to Efficiently Personalize and
Customize Market Offerings 360
Disintermediation and Restructuring of
Distribution Channels 361
Global Reach, 24_7 Access, and Instantaneous
Delivery 361
Are These New-Economy Attributes
Opportunities or Threats? 362
First-Mover Advantage: Fact or Fiction? 365
Developing a New-Economy Strategy: A Decision
Framework 365
Marketing Applications for New-Economy
Tools 366
Developing New-Economy Marketing
Strategies: The Critical Questions 375
Developing Strategies to Serve New-Economy
Markets 378
What Lessons Can We Learn from the
Crash? 379
What Are the Key Success Factors in Serving the Markets of Tomorrow? 380
Take-aways 382
Endnotes 382
16 Strategies for New and Growing
Markets 384
Canon, Inc.?Success That Is Hard to Copy 384
Marketing Challenges Addressed in Chapter 16 385
How New Is New? 386
Market Entry Strategies: Is It Better to Be a Pioneer
or a Follower? 388
Pioneer Strategy 388
Not All Pioneers Capitalize on Their Potential
Advantages 390
Follower Strategy 390
Determinants of Success for Pioneers and
Followers 391
Strategic Marketing Programs for Pioneers 393
Mass-Market Penetration 393
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Niche Penetration 395
Skimming and Early Withdrawal 395
Marketing Program Components for a Mass-
Market Penetration Strategy 396
Marketing Program Components for a Niche
Penetration Strategy 400
Marketing Program Components for a Skimming
Strategy 400
Growth-Market Strategies for Market Leaders 401
Marketing Objectives for Share Leaders 401
Marketing Actions and Strategies to Achieve
Share-Maintenance Objectives 402
Fortress, or Position Defense, Strategy 402
Flanker Strategy 406
Confrontation Strategy 407
Market Expansion 408
Contraction or Strategic Withdrawal 408
Share-Growth Strategies for Followers 409
Marketing Objectives for Followers 409
Marketing Actions and Strategies to Achieve
Share Growth 409
Frontal Attack Strategy 411
Leapfrog Strategy 413
Flanking and Encirclement Strategies 414
Supporting Evidence 415
Take-aways 416
Endnotes 417
17 Strategic Choices for Mature and
Declining Markets 418
Johnson Controls?Making Money in Mature
Markets 418
Marketing Challenges Addressed in Chapter 17 419
Challenges in Mature Markets 420
Challenges in Declining Markets 420
Strategic Choices in Mature Markets 420
Strategies for Maintaining Competitive
Advantage 421
Methods of Differentiation 422
Methods of Maintaining a Low-Cost
Position 427
Customers? Satisfaction and Loyalty Are Crucial
for Maximizing Their Lifetime Value 429
Marketing Strategies for Mature Markets 431
Strategies for Maintaining Current Market
Share 431
Strategies for Extending Volume Growth 433
Strategies for Declining Markets 438
Relative Attractiveness of Declining
Markets 439
Divestment or Liquidation 441
Marketing Strategies for Remaining
Competitors 441
Take-aways 445
Endnotes 445
18 Organizing and Planning for Effective
Implementation 448
Hewlett-Packard?Reorganizing to Implement a New
Strategy 448
The Internet Changed the Firm?s Market
Environment 448
Reorganizing to Implement a New
Strategy 449
Marketing Challenges Addressed in Chapter 18 450
Designing Appropriate Administrative Relationships
for the Implementation of Different Competitive
Strategies 451
Business-Unit Autonomy 452
Shared Programs and Facilities 453
Evaluation and Reward Systems 454
Designing Appropriate Organizational Structures
and Processes for Implementing Different
Strategies 454
Functional Competencies and Resource
Allocation 455
Additional Considerations for Service
Organizations 455
Organizational Structures 457
Recent Trends in Organizational Design 461
Organizational Adjustments as Firms Grow and
Markets Change 462
Organizational Designs for Selling in Global
Markets 463
Marketing Plans: The Foundation for Implementing
Marketing Actions 465
The Situational Analysis 468
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Key Issues 470
Objectives 470
Marketing Strategy 470
Action Plans 470
Projected Profit-and-Loss Statement 471
Contingency Plans 471
Take-aways 471
Endnotes 472
19 Measuring and Delivering Marketing
Performance 474
Controls Pay for Wal-Mart 474
Marketing Challenges Addressed in Chapter 19 475
Designing Control Systems Step by Step 476
Setting Standards of Performance 477
Specifying and Obtaining Feedback Data 482
Evaluating Feedback Data 482
Taking Corrective Action 483
Design Decisions for Strategic Control
Systems 484
Identifying Key Variables 484
Tracking and Monitoring 485
Strategy Reassessment 485
Design Decisions for Marketing Performance
Measurement 486
Who Needs What Information? 486
When and How Often Is the Information
Needed? 489
In What Media and in What Format(s) or Levels
of Aggregation Should the Information Be
Provided? 490
What Contingencies Should Be Planned
For? 490
Global Marketing Control 492
ATool for Periodic Assessment of Marketing
Performance: The Marketing Audit 493
Types of Audits 493
Take-aways 495
Endnotes 495

Library of Congress Subject Headings for this publication:

Marketing -- Management.