MKTG. Principles of Marketing

444 Pages·2017·53.58 MB·English

by  Charles W. Lamb

Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
SE (IFC/IBC) — Lamb/Hair/McDaniel — MKTG11 ISBN-13: 9781337116800 ©2018 Designer: Lisa Kuhn | Kathy Heming
Binding: Paper Trim: 8.5” x 10.875” CMYK
the Process
YOUr
FeeD-
4LTR Press uses a Student-Tested,
Faculty-Approved process to meet the
unique needs of each course.
BACK
learn Principles of marketing YoUr Way with mKTG11!
mKTG11’s easy-reference, paperback textbook presents course
content through visually engaging chapters as well as chapter review cards
that consolidate the best review material into a ready-made study tool.
With the textbook or on its own, mKTG Online allows easy exploration
of mKTG11 anywhere, anytime — including on your device! YOUr
BOOK
StudeNtS Say iNStRuctoRS RequiRe
students taking Principles of marketing say they those teaching Principles of marketing require
want an overview of course concepts that are a text that covers current marketing trends and
valuable and impact the world of marketing. they features companies and topics that are current
desire a source with real world examples that in the world of marketing. in addition to relevant
focus on relevant companies and organizations. examples, instructors will have access to case
in mKTG11 students can find examples featuring studies, media/video quizzing, PowerPoint
airbnb, target, chipotle, louis Vuitton, apple, lectures, and an instructor’s manual that includes
Our research never ends. Continual feedback from you ensures
Under armour, nest, and garnier. additional material.
that we keep up with your changing needs.
Student ReSouRceS: InStRuctoR ReSouRceS
Visually-engaging chapters available at cengage.com/login:
tear-out chapter review cards all student resources
mktg online available at cengagebrain.com assignable chapter readings and assessments
interactive reading lms integration
Practice Quizzes instructor’s manual
interactive figures test bank
flashcards
PowerPoint® slides
Videos
tear-out instructor Prep cards
executive Profiles
anatomies of an ad
www.cengage.com/4ltrpress
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16800_cvr_se_ptg01_hires.indd 2 12/6/16 11:11 AM
SE (IFC/IBC) — Lamb/Hair/McDaniel — MKTG11 ISBN-13: 9781337116800 ©2018 Designer: Lisa Kuhn | Kathy Heming
Binding: Paper Trim: 8.5” x 10.875” CMYK
the Process
YOUr
FeeD-
4LTR Press uses a Student-Tested,
Faculty-Approved process to meet the
unique needs of each course.
BACK
learn Principles of marketing YoUr Way with mKTG11!
mKTG11’s easy-reference, paperback textbook presents course
content through visually engaging chapters as well as chapter review cards
that consolidate the best review material into a ready-made study tool.
With the textbook or on its own, mKTG Online allows easy exploration
of mKTG11 anywhere, anytime — including on your device! YOUr
BOOK
StudeNtS Say iNStRuctoRS RequiRe
students taking Principles of marketing say they those teaching Principles of marketing require
want an overview of course concepts that are a text that covers current marketing trends and
valuable and impact the world of marketing. they features companies and topics that are current
desire a source with real world examples that in the world of marketing. in addition to relevant
focus on relevant companies and organizations. examples, instructors will have access to case
in mKTG11 students can find examples featuring studies, media/video quizzing, PowerPoint
airbnb, target, chipotle, louis Vuitton, apple, lectures, and an instructor’s manual that includes
Our research never ends. Continual feedback from you ensures
Under armour, nest, and garnier. additional material.
that we keep up with your changing needs.
Student ReSouRceS: InStRuctoR ReSouRceS
Visually-engaging chapters available at cengage.com/login:
tear-out chapter review cards all student resources
mktg online available at cengagebrain.com assignable chapter readings and assessments
interactive reading lms integration
Practice Quizzes instructor’s manual
interactive figures test bank
flashcards
PowerPoint® slides
Videos
tear-out instructor Prep cards
executive Profiles
anatomies of an ad
www.cengage.com/4ltrpress
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16800_cvr_se_ptg01_hires.indd 2 12/6/16 11:11 AM
THE MKTG SOLUTION
MKTG11
Print
CHAPTER
1
+
An Overview of Marketing
Online CH2APTER
Strategic Planning for
Competitive Advantage
MKTG11 delivers all the key MKTG Online provides the complete
terms and core concepts for the narrative from the printed text with
Principles of Marketing course. additional interactive media and the unique
functionality of StudyBits—all available
on nearly any device!
What is a StudyBit™? Created through a deep investigation of students’ challenges and workflows,
the StudyBit™ functionality of MKTG Online enables students of different generations and learning
styles to study more effectively by allowing them to learn their way. Here’s how they work:
WEAK rate and organIze
studyBIts
ColleCt FAIR Rate your
What’s understanding and
Important use the color-coding
Create STRONG
to quickly organize
StudyBits
your study time
as you highlight UNASSIGNED and personalize
text, images or
your flashcards
take notes!
and quizzes.
CORRECT
traCk/monItor 85% INCORRECT
progress
Use Concept personalIze QuIzzes INCORRECT
Tracker to decide Filter by your StudyBits
how you’ll spend to personalize quizzes or
study time and just take chapter quizzes INCORRECT
study YOUR way! off-the-shelf.
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 1 13/12/16 11:13 AM
MKTG11 © 2018, 2017 Cengage Learning®
Charles W. Lamb, Joseph F. Hair, Jr.,
Unless otherwise noted, all content is © Cengage
Carl McDaniel
ALL RIGHTS RESERVED. No part of this work covered by the copyright herein
Senior Vice President, General Manager:
may be reproduced or distributed in any form or by any means, except as
Balraj Kalsi
permitted by U.S. copyright law, without the prior written permission of the
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Library of Congress Control Number: 2016953544
Text Designer: Trish & Ted Knapke: Ke Design
Cover Designer: Lisa Kuhn: Curio Press/Trish & Student Edition ISBN: 978-1-337-11683-1
Ted Knapke: Ke Design Student Edition with Online ISBN: 978-1-337-11680-0
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Print Number: 01 Print Year: 2017
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 2 12/12/16 3:45 PM
LAMB / HAIR / McDANIEL
MK TG11 Brief Contents
Part 1 the World of Marketing
1 An Overview of Marketing 2
2 Strategic Planning for Competitive Advantage 14
3 Ethics and Social Responsibility 30
4 The Marketing Environment 48
5 Developing a Global Vision 68
Part 2 analyzing Market oPPortunities
6 Consumer Decision Making 92
7 Business Marketing 120
8 Segmenting and Targeting Markets 136
9 Marketing Research 152
Part 3 Product decisions
10 Product Concepts 174
11 Developing and Managing Products 190
12 Services and Nonprofit Organization Marketing 206
Part 4 distribution decisions
mages 1143 SRuetpapilliyn Cg ha2i4n4 Management and Marketing Channels 220
Getty I
Ball Productions/Brand X Pictures/ P 1111a5678r tMAPS eo5darcv rsiekaoPrelnt trMiaisnloie ngSdM geCi,alo loP iamntungibmod lai uncMn nd Raai ecrSnklaaaetdltiteioio snncn gMsos ,aM a23nn62Mad20g ueSmnaleiecnsat P troi3om0n2o tsiotnr a2t8e0gies
Rubber Part 6 Pricing decisions
Thinkstock; Tennis Shoes: E 1n9d noPtreicsi ng3 6C0oncepts 338
Stock/ Index 374
Machine: arsa35/i Tear-out cards
Vending
iii
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 3 12/12/16 3:45 PM
Contents
2-10 Following Up on the Marketing Plan 27
Part 1
2-11 Effective Strategic Planning 29
The World 3
Ethics and Social
of MarkeTing
Responsibility 30
3-1 Determinants of a Civil Society 30
3-2 The Concept of Ethical Behavior 32
3-3 Ethical Behavior in Business 34
3-4 Corporate Social Responsibility 38
m 3-5 Arguments for and Against Social
shutterstock.co 3-6 RCeauspseo-nRseiblailtietyd M4a0rketing 45
dibrova/ 4
The Marketing
1
Environment 48
An Overview
4-1 The External Marketing Environment 48
of Marketing 2
4-2 Social Factors 50
1-1 What Is Marketing? 2
4-3 Demographic Factors 53
1-2 Marketing Management Philosophies 4
4-4 Growing Ethnic Markets 57
1-3 Differences Between Sales and Market
4-5 Economic Factors 59
Orientations 7
4-6 Technology and Innovation 60
1-4 Why Study Marketing? 13
4-7 Political and Legal Factors 63
2 4-8 Competitive Factors 66
Strategic Planning for
5
Competitive Advantage 14
Developing a Global
2-1 The Nature of Strategic Planning 14 Vision 68
2-2 Strategic Business Units 15
5-1 Rewards of Global Marketing and the Shifting
2-3 Strategic Alternatives 16
Global Business Landscape 68
2-4 Defining the Business Mission 21
5-2 Multinational Firms 72
2-5 Conducting a Situation Analysis 22
5-3 External Environment Faced by Global
2-6 Competitive Advantage 22 Marketers 74
2-7 Setting Marketing Plan Objectives 25 5-4 Global Marketing by the Individual Firm 83
2-8 Describing the Target Market 25 5-5 The Global Marketing Mix 86
2-9 The Marketing Mix 26 5-6 The Impact of the Internet 90
iv
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 4 12/12/16 11:11 AM
7
Part 2
Business Marketing 120
7-1 What Is Business Marketing? 120
analyzing
7-2 Trends in B-to-B Internet Marketing 121
MarkeT
7-3 Relationship Marketing and Strategic
Alliances 123
opporTuniTies
7-4 Major Categories of Business Customers 125
7-5 The North American Industry Classification
System 127
7-6 Business versus Consumer Markets 127
m
Shutterstock.co 77--78 TByupseinse osfs BBuusyiinnegs sB Perhoadvuiocrt s 113320
Amprasert/ 8 Segmenting and Targeting
Watcharapol Markets 136
8-1 Markets and Market Segments 136
6 8-2 The Importance of Market Segmentation 137
Consumer Decision
8-3 Criteria for Successful Segmentation 138
Making 92
8-4 Bases for Segmenting Consumer Markets 138
6-1 The Importance of Understanding Consumer 8-5 Bases for Segmenting Business Markets 144
Behavior 92
8-6 Steps in Segmenting a Market 145
6-2 The Traditional Consumer Decision-Making
8-7 Strategies for Selecting Target Markets 146
Process 94
8-8 CRM as a Targeting Tool 148
6-3 Postpurchase Behavior 99
8-9 Positioning 149
6-4 Types of Consumer Buying Decisions and Consumer
Involvement 100 9
6-5 Reconceptualizing the Consumer Decision Making Marketing Research 152
Process 104
9-1 The Role of Marketing Research 152
6-6 Cultural Influences on Consumer Buying
9-2 Steps in a Marketing Research Project 154
Decisions 106
9-3 The Profound Impact of the Internet on Marketing
6-7 Social Influences on Consumer Buying
Research 168
Decisions 109
9-4 The Growing Importance of Mobile Research 171
6-8 Individual Influences on Consumer Buying
Decisions 113 9-5 Scanner-Based Research 172
6-9 Psychological Influences on Consumer Buying 9-6 When Should Marketing Research
Decisions 115 Be Conducted? 172
9-7 Competitive Intelligence 173
CONTENTS v
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 5 08/12/16 2:50 PM
12-3 Service Quality 208
Part 3
12-4 Marketing Mixes for Services 211
12-5 Relationship Marketing in Services 214
producT
12-6 Internal Marketing in Service Firms 215
decisions
12-7 Nonprofit Organization Marketing 215
12-8 Global Issues in Services Marketing 218
Part 4
m disTribuTion
Shutterstock.co decisions
ma/
misu
10
Product Concepts 174 m
1100--12 WTyhpaets Ios fa C Pornosduumcte?r Pr1o7d4ucts 174 Shutterstock.co
10-3 Product Items, Lines, and Mixes 176 Kirch/
10-4 Branding 180 Alexander
10-5 Packaging 185
10-6 Global Issues in Branding and Packaging 187
13

10-7 Product Warranties 188 Supply Chain Management
and Marketing Channels 220
11
Developing and Managing 13-1 Supply Chains and Supply Chain Management 220
Products 190 13-2 Supply Chain Integration 222
13-3 The Key Processes of Supply Chain
11-1 The Importance of New Products 190
Management 224
11-2 The New-Product Development Process 192
13-4 Sustainable Supply Chain Management 228
11-3 Why Some Products Succeed and Others Fail 199
13-5 Trends in Supply Chain Management 229
11-4 Global Issues in New-Product Development 199
13-6 Marketing Channels and Channel
11-5 The Spread of New Products 200
Intermediaries 233
11-6 Product Life Cycles 202
13-7 Channel Structures 236
13-8 Omnichannel versus Multichannel
12
Marketing 242
Services and Nonprofit
Organization Marketing 206
12-1 The Importance of Services 206
12-2 How Services Differ from Goods 206
vi CONTENTS
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
16831_fm_ptg01.indd 6 08/12/16 2:50 PM
14 15-6 Integrated Marketing Communications 275

Retailing 244
15-7 Factors Affecting the Promotional Mix 276
14-1 The Importance of Retailing 244 16
14-2 Types of Retailers and Retail Operations 245 Advertising, Public Relations,
14-3 The Rise of Nonstore Retailing 249 and Sales Promotion 280
14-4 Retail Operations Models 251
16-1 The Effects of Advertising 280
14-5 Executing a Retail Marketing Strategy 252
16-2 Major Types of Advertising 282
14-6 Retailing Decisions for Services 257
16-3 Creative Decisions in Advertising 284
14-7 Addressing Retail Product/Service Failures 257
16-4 Media Decisions in Advertising 287
14-8 Retailer and Retail Customer Trends and
16-5 Public Relations 294
Advancements 258
16-6 Sales Promotion 297
17
Personal Selling and Sales
Part 5
Management 302
proMoTion and
17-1 The Sales Environment 302
17-2 Personal Selling 303
coMMunicaTion
17-3 Relationship Selling 304
sTraTegies
17-4 Steps in the Selling Process 306
17-5 Sales Management 312
17-6 Customer Relationship Management and the Sales
Process 315
18
m
Shutterstock.co Sanocdi aMl aMrkeedtiian g 320
m/ 18-1 What Are Social Media? 320
wpixel.co 18-2 Creating and Leveraging a Social Media
Ra Campaign 325
18-3 Evaluation and Measurement of Social Media 327
15 18-4 Social Behavior of Consumers 327
Marketing 18-5 Social Media Tools: Consumer- and Corporate-
Communications 262 Generated Content 329
18-6 Social Media and Mobile Technology 335
15-1 The Role of Promotion in the Marketing Mix 262
18-7 The Social Media Plan 336
15-2 Marketing Communication 264
15-3 The Goals of Promotion 267
15-4 The Promotional Mix 268
15-5 Promotional Goals and the AIDA Concept 273
CONTENTS vii
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-203
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