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Contents CHAPTER ONE Marketing?s Value to Consumers, Firms, and Society Marketing?What?s It All About? 000 Marketing Is Important to You 000 How Should We Define Marketing? 000 Macro-Marketing 000 The Role of Marketing in Economic Systems 000 Marketing?s Role Has Changed a Lot over the Years 000 What Does the Marketing Concept Mean? 000 Adoption of the Marketing Concept Has Not Been Easy or Universal 000 The Marketing Concept and Consumer Value 000 The Marketing Concept Applies in Nonprofit Organizations 000 The Marketing Concept, Social Responsibility, and Marketing Ethics 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER TWO Marketing Strategy Planning The Management Job in Marketing 000 What Is Marketing Strategy Planning? 000 Selecting a Market-Oriented Strategy Is Target Marketing 000 Developing Marketing Mixes for Target Markets 000 The Marketing Plan Is a Guide to Implementation and Control 000 The Importance of Marketing Strategy Planning 000 Creative Strategy Planning Needed for Survival 000 What Are Attractive Opportunities? 000 Marketing Strategy Planning Process Highlights Opportunities 000 Types of Opportunities to Pursue 000 International Opportunities Should Be Considered 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER THREE Focusing Marketing Strategy with Segmentation and Positioning Search for Opportunities Can Begin by Understanding Markets 000 Naming Product-Markets and Generic Markets 000 Market Segmentation Defines Possible Target Markets 000 What Dimensions Are Used to Segment Markets? 000 A Best Practice Approach to Segmenting Product-Markets 000 More Sophisticated Techniques May Help in Segmenting 000 Differentiation and Positioning Take the Customer Point of View 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER FOUR Evaluating Opportunities in the Changing Marketing Environment The Marketing Environment 000 Objectives Should Set Firm?s Course 000 Company Resources May Limit Search for Opportunities 000 Analyzing Competitors and the Competitive Environment 000 The Economic Environment 000 The Technological Environment 000 The Political Environment 000 The Legal Environment 000 The Cultural and Social Environment 000 Using Screening Criteria to Narrow Down to Strategies 000 Planning Grids Help Evaluate a Portfolio of Opportunities 000 Multiproduct Firms Have a Difficult Strategy Planning Job 000 Evaluating Opportunities in International Markets 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER FIVE Demographic Dimensions of Global Consumer Markets Target Marketers Focus on the Customer 000 People with Money Make Markets 000 Population Trends in the U.S. Consumer Market 000 Income Dimensions of the U.S. Market 000 Spending Varies with Income and Other Demographic Dimensions 000 Ethnic Dimensions of the U.S. Market 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER SIX Behavioral Dimensions of the Consumer Market Consumer Behavior?Why Do They Buy What They Buy? 000 The Behavioral Sciences Help You Understand the Buying Process 000 Psychological Influences within an Individual 000 Social Influences Affect Consumer Behavior 000 Individuals Are Affected by the Purchase Situation 000 Consumers Use Problem-Solving Processes 000 Several Processes Are Related and Relevant to Strategy Planning 000 Consumer Behavior in International Markets 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER SEVEN Business and Organizational Customers and Their Buying Behavior Business and Organizational Customers?A Big Opportunity 000 Organizational Customers Are Different 000 Many Different People May Influence a Decision 000 Organizational Buyers Are Problem Solvers 000 Buyer-Seller Relationships in Business Markets 000 Internet E-Commerce Is Reshaping Many Business Markets 000 Manufacturers Are Important Customers 000 Producers of Services?Smaller and More Spread Out 000 Retailers and Wholesalers Buy for Their Customers The Government Market 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 Chapter Eight Improving Decisions with Marketing Information Radical Changes Are Underway in Marketing Information 000 What Is Marketing Research? 000 The Scientific Method and Marketing Research 000 Five-Step Approach to Marketing Research 000 Defining the Problem?Step 1 000 Analyzing the Situation?Step 2 000 Getting Problem-Specific Data?Step 3 000 Interpreting the Data?Step 4 000 Solving the Problem?Step 5 000 International Marketing Research 000 How Much Information Do You Need? 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER NINE Elements of Product Planning for Goods and Services The Product Area Involves Many Strategy Decisions 000 What Is a Product? 000 Differences in Goods and Services 000 Whole Product Lines Must Be Developed Too 000 Product Classes Help Plan Marketing Strategies 000 Consumer Product Classes 000 Business Products Are Different 000 Business Product Classes?How They Are Defined 000 Branding Needs a Strategy Decision Too 000 Conditions Favorable to Branding 000 Achieving Brand Familiarity Is Not Easy 000 Protecting Brand Names and Trademarks 000 What Kind of Brand to Use? 000 Who Should Do the Branding? 000 The Strategic Importance of Packaging 000 What Is Socially Responsible Packaging? 000 Warranty Policies Are a Part of Strategy Planning 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER TEN Product Management and New-Product Development Managing Products over Their Life Cycles 000 Product Life Cycles Should Be Related to Specific Markets 000 Product Life Cycles Vary in Length 000 Planning for Different Stages of the Product Life Cycle 000 New-Product Planning 000 An Organized New-Product Development Process Is Critical 000 New-Product Development: A Total Company Effort 000 Need for Product Managers 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER ELEVEN Place and Development of Channel Systems Place Decisions Are an Important Part of Marketing Strategy 000 Place Decisions Are Guided by ?Ideal? Place Objectives 000 Channel System May Be Direct or Indirect 000 Channel Specialists May Reduce Discrepancies and Separations 000 Channel Relationship Must Be Managed 000 Vertical Marketing Systems Focus on Final Customers 000 The Best Channel System Should Achieve Ideal Market Exposure 000 Channel Systems Can Be Complex 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER TWELVE Distribution Customer Service and Logistics Physical Distribution Gets It to Customers 000 Physical Distribution Customer Service 000 Physical Distribution Concept Focuses on the Whole Distribution System 000 Coordinating Logistics Activities among Firms 000 The Transporting Function Adds Value to a Marketing Strategy 000 Which Transporting Alternative Is Best? 000 Economies of Scale in Transporting 000 The Storing Function and Marketing Strategy 000 Specialized Storing Facilities May Be Required 000 The Distribution Center_A Different Kind of Warehouse 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER THIRTEEN Retailers, Wholesalers, and Their Strategy Planning Wholesalers and Retailers Plan Their Own Strategies 000 The Nature of Retailing 000 Planning a Retailer?s Strategy Conventional Retailers_Try to Avoid Price Competition 000 Expand Assortment and Service_To Compete at a High Price 000 Evolution of Mass-Merchandising Retailers 000 Some Retailers Focus on Added Convenience 000 Retailing on the Internet 000 Retailing Types Are Explained by Consumer Needs Filled 000 Why Retailers Evolve and Change 000 Retailer Size and Profits 000 Differences in Retailing in Different Nations 000 What Is a Wholesaler? 000 Wholesaling Is Changing with the Times 000 Wholesalers Add Value in Different Ways 000 Merchant Wholesalers Are the Most Numerous 000 Agent Middlemen Are Strong on Selling 000 What Will Happen to Retailers and Wholesalers in the Future? 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER FOURTEEN Promotion?Introduction to Integrated Marketing Communications Several Promotion Methods Are Available 000 Someone Must Plan, Integrate, and Manage the Promotion Blend 000 Which Methods to Use Depends on Promotion Objectives 000 Promotion Requires Effective Communication 000 Integrated Direct-Response Promotion Is Very Targeted 000 The Customer May Initiate the Communication Process 000 How Typical Promotion Plans Are Blended and Integrated 000 Adoption Processes Can Guide Promotion Planning 000 Promotion Blends Vary over the Life Cycle 000 Setting the Promotion Budget 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER FIFTEEN Personal Selling The Importance and Role of Personal Selling 000 What Kinds of Personal Selling Are Needed? 000 Order Getters Develop New Business Relationships 000 Order Takers Nurture Relationships to Keep the Business Coming 000 Supporting Sales Force Informs and Promotes in the Channel 000 The Right Structure Helps Assign Responsibility 000 Information Technology Provides Tools to Do the Job 000 Sound Selection and Training to Build a Sales Force 000 Compensating and Motivating Salespeople 000 Personal Selling Techniques_Prospecting and Presenting 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER SIXTEEN Advertising and Sales Promotion Advertising, Sales Promotion, and Marketing Strategy Decisions 000 Advertising Objectives Are a Strategy Decision 000 Objectives Determine the Kinds of Advertising Needed 000 Coordinating Advertising Efforts with Cooperative Relationships 000 Choosing the ?Best? Medium_How to Deliver the Message 000 Advertising on the Internet_New Opportunities and New Challenges 000 Planning the ?Best? Message_What to Communicate 000 Advertising Agencies Often Do the Work 000 Measuring Advertising Effectiveness Is Not Easy 000 How to Avoid Unfair Advertising 000 Sales Promotion_Do Something Different to Stimulate Change 000 Problems in Managing Sales Promotion 000 Different Types of Sales Promotion for Different Targets 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER SEVENTEEN Pricing Objectives and Policies Price Has Many Strategy Dimensions 000 Objectives Should Guide Strategy Planning for Price 000 Profit-Oriented Objectives 000 Sales-Oriented Objectives 000 Status Quo Pricing Objectives 000 Most Firms Set Specific Pricing Policies_To Reach Objectives 000 Price Flexibility Policies 000 Price-Level Policies_Over the Product Life Cycle 000 Most Price Structures Are Built around List Prices 000 Discount Prices_Reductions from List Prices 000 Allowance Policies_Off List Prices 000 Some Customers Get Something Extra 000 List Price May Depend on Geographic Pricing Policies 000 Pricing Policies Combine to Impact Customer Value 000 Legality of Pricing Policies 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER EIGHTEEN Price Setting in the Business World Price Setting Is a Key Strategy Decision 000 Some Firms Just Use Markups 000 Average-Cost Pricing Is Common and Can Be Dangerous 000 Marketing Manager Must Consider Various Kinds of Costs 000 Some Firms Add a Target Return to Cost 000 Break-Even Analysis Can Evaluate Possible Prices 000 Marginal Analysis Considers Both Costs and Demand 000 Demand-Oriented Approaches for Setting Prices 000 Pricing a Full Line 000 Bid Pricing and Negotiated Pricing Depend Heavily on Costs 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER NINETEEN Implementing and Controlling Market Plans: Evolution and Revolution Good Plans Set the Framework for Implementation and Control 000 Speed Up Information for Better Implementation and Control 000 Effective Implementation Means That Plans Work as Intended 000 Building Quality into the Implementation Effort 000 Control Provides Feedback to Improve Plans and Implementation 000 Sales Analysis Shows What?s Happening 000 Performance Analysis Looks for Differences 000 Performance Indexes Simplify Human Analysis 000 A Series of Performance Analyses May Find the Real Problem 000 Marketing Cost Analysis_Controlling Costs Too 000 Planning and Control Combined 000 The Marketing Audit 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Computer-Aided Problem 000 CHAPTER TWENTY Managing Marketing?s Link with Other Functional Areas Marketing in the Broader Context 000 The Finance Function: Money to Implement Marketing Plans 000 Production Must Be Coordinated with the Marketing Plan 000 Accounting Data Can Help in Understanding Costs and Profit 000 People Put Plans into Action 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 CHAPTER TWENTY-ONE Developing Innovative Marketing Plans Marketing Planning Process Is More than Assembling the Four Ps 000 Blending the Four Ps Takes Understanding of a Target Market 000 Forecasting Target Market Potential and Sales 000 Forecasting Company and Product Sales by Extending Past Behavior 000 Predicting Future Behavior Calls for More Judgment and Some Concerns 000 Analysis of Costs and Sales Can Guide Planning 000 The Marketing Plan Brings All the Details Together 000 Companies Plan and Implement Whole Marketing Programs 000 Planning for Involvement in International Marketing 000 Conclusion 000 Key Terms 000 Questions and Problems 000 Suggested Cases 000 Chapter Twenty-Two Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges How Should Marketing Be Evaluated? 000 Can Consumer Satisfaction Be Measured? 000 Micro-Marketing Often Does Cost Too Much 000 Macro-Marketing Does Not Cost Too Much 000 Challenges Facing Marketers 000 How Far Should the Marketing Concept Go? 000 Conclusion 000 Questions and Problems 000 Suggested Cases 000 Appendix A Economics Fundamentals 000 Appendix B Marketing Arithmetic 000 Appendix C Career Planning in Marketing 000 Video Cases 000 1. 2. 3. 4. 5. 6. Cases 000 1. McDonald?s ?Seniors? Restaurant 000 2. Healthy Foods, Inc. 000 3. Pillsbury?s H?agen-Dazs 000 4. Computer Support Services 000 5. ResinTech 000 6. Valley Steel Company 000 7. Lilybank Lodge 000 8. Marie?s Ristorante 000 9. SleepEasy Motel 000 10. Murphy?s Ice Land 000 11. Joggers Universe 000 12. Applied Chemistry Corporation 000 13. Paper Products, Inc. 000 14. Multimedia Corral 000 15. Growth Enterprises 000 16. Matisse Company 000 17. Eco Water, Inc. 000 18. Village Bank 000 19. myWedding.com 000 20. Leisure World, Inc. 000 21. Lextron International, Inc. 000 22. Structural Wire Corporation 000 23. Heritage Furniture 000 24. Metal Solutions, Inc. 000 25. PlastiForm Mfg., Inc. 000 26. Riverside Packers, Inc. 000 27. Injection Molding, Inc. 000 28. QTC, Inc. 000 29. Custom Castings, Inc. 000 30. DeLuxe Foods, Inc. 000 31. Home Nursing Services, Inc. 000 32. Lever, Ltd. 000 33. Bushmand & Associates 000 34. Alumco International 000 35. Sal?s 000 Computer-Aided Problems 000 Notes 000 Illustration Credits 000 Author Index 000 Subject Index 000 Glossary 000
Library of Congress Subject Headings for this publication:
Marketing -- Management.