Principles and Practice of Marketing PDF
Preview Principles and Practice of Marketing
The fully updated eighth edition of Principles and Practice of Marketing continues to provide a contemporary and modern introduction to marketing. With a renewed focus that covers the importance of customer value alongside the 4Ps, this authoritative text provides students with a core understanding of the wider context and latest developments taking place within marketing. A stimulating range of new resources and real world examples help to bring marketing to life. Find out: • How the bandwagon effect has contributed to the success of online group buying • How IKEA delivers sustainable cotton and timber products to millions of customers • How social marketing is combatting an obesity crisis • How the relaunch of Netto became a case of fighter branding • How crowdsourcing is evolving advertising • How Abercrombie & Fitch's store environment could be heading it into the dark Key Features: • A brand new chapter on Relationship Marketing • Newly updated structure to focus on the importance of Customer Value • Fully updated to cover the latest technologies and digital developments • New Marketing in Action boxes and Mini Cases focusing on European and Global companies including Spotify, Rovio, Decathlon, Zara and Amazon • 44 new and updated endofchapter cases provide insights from across a range of businesses; from high street fashion stores and supermarkets (H&M, The Cooperative) and airlines and services (EasyJet, Pret A Manger), to digital companies (ASOS, Google) and the music and film industries (Apple, Disney) • Fully updated and streamlined pedagogy including refocused recommended readings at the end of each chapter, allowing you to expand your knowledge • New AdInsight boxes including active OR codes to keep you uptodate with the latest marketing campaigns and examples Principles and Practice of Marketing is available with Connect™, LearnSmart™ and SmartBook™ • McGrawHill's Connect is a digital teaching and learning environment that improves performance over a variety of critical outcomes; it can be tailored, is easy to use and is proven effective. Connect for Marketing includes access to our video bank, containing insightful interviews with business leaders and marketing professionals. A suite of new videos has been developed for this edition, featuring new content from Dixons Carphone, Graze, Hyundai, TheOutnet.com and Nudie Jeans. • LearnSmart is the most widely used and intelligent adaptive learning resource. Proven to promote subject mastery, it will strengthen memory recall, improve course retention and boost grades. • SmartBook – our fully adaptive eBook – is the first and only adaptive reading experience available today. It identifies and closes knowledge gaps through a continually adapting reading experience that provides personalized learning resources at a student’s precise moment of need, thus making study time both productive and efficient, • Connect, LearnSmart and SmartBook are fully assignable, giving instructors and students a new and innovative way of both teaching and learning David Jobber is Emeritus Professor of Marketing at the University of Bradford, UK Fiona EllisChadwick is Senior Lecturer in Marketing and Retailing at the University of Loughborough, UK Side vi Brief Table of Contents Detailed Table of Contents vii PART 1 Fundamentals of Marketing 1 1 Marketing and the Organization 3 2 The Marketing Environment 37 3 Consumer Behaviour 71 4 Organizational Buying 107 5 Marketing Ethics and Corporate Social Responsibility 135 6 Marketing Research and Business Intelligence 167 7 Market Segmentation and Positioning 203 PART 2 Creating Customer Value 243 8 Value Through Brands 245 9 Value Through Services 285 10 Value Through Relationships 313 11 Value Through Innovation 345 12 Value Through Pricing 375 PART 3 Communicating and Delivering Customer Value 402 13 Integrated Marketing Communications 411 14 Mass Marketing Communications 447 15 Direct Marketing Communications 491 16 Digital Marketing and Social Media 531 17 Distribution 565 PART 4 Marketing Planning and Strategy 601 18 Marketing Planning: An Overview of Strategic Analysis and Decisionmaking 603 19 Analysing Competitors and Creating a Competitive Advantage 637 20 Product Strategy: Product Lifecycle, Portfolio Planning and Product Growth Strategies 675 21 Global Marketing Strategy 705 22 Managing Marketing Implementation, Organization and Control 743 Side vii Detailed Table of Contents PART 1 Fundamentals of Marketing 1 1 Marketing and the Organization 3 Introduction to Principles and Practice of Marketing 4 What is Marketing? 5 Market versus Production Orientation 6 Understanding Marketdriven Businesses 8 Efficiency Versus Effectiveness 11 Benefits and Limitations of the Marketing Concept as a Guiding Business Philosophy 12 Creating Customer Value, Satisfaction and Loyalty 14 Making Marketing Work: Developing Plans and Application of the Marketing Mix 18 Key Characteristics of an Effective Marketing Mix 20 Marketing and Business Performance 22 Criticisms of the 4Ps Approach to Marketing Management 22 Review 24 Key Terms 26 Study Questions 26 Recommended Reading 27 References 27 CASE 1 CocaCola versus Pepsi 29 CASE 2 H&M Gets Hotter 32 2 The Marketing Environment 37 Political and Legal Forces 38 Legal and Regulatory Responses to Ethical Issues in Marketing 42 Economic Forces 42 Ecological/Physical Environmental Forces 47 Social/Cultural Forces 49 Technological Forces 53 The Microenvironment 55 Environmental Scanning 56 Responses to Environmental Change 57 Review 59 Key Terms 60 Study Questions 60 Recommended Reading 61 References 61 CASE 3 Searching for Sony’s Salvation 63 CASE 4 SodaStream: Adapting Itself to a Changing Market 69 3 Consumer Behaviour 71 The Dimensions of Buyer Behaviour 72 Consumer Behaviour 73 Influences on Consumer Behaviour 84 Review94 Key Terms96 Study Questions 97 Recommended Reading 97 References98 CASE 5 Cappuccino Hotshots 100 CASE 6 Red Bull 103 4 Organizational Buying 107 Characteristics of Organizational Buying 108 People and Process in Purchasing 110 Influences on Buying Decisions 117 Developments in Purchasing Practice 119 Review124 Key Terms125 Study Questions 126 Recommended Reading 126 References126 CASE 7 Flying in Tandem: Organizational Purchasing in the Airline Industry 128 CASE 8 AstraZeneca: Sweden and the UK Join Forces to Form a Production Power Base to Serve New Market Habitats in the Pharmaceutical Industry 131 5 Marketing Ethics and Corporate Social Responsibility 135 Environmental 136 Social136 Economic136 Marketing Ethics 137 Ethical Issues in Marketing 138 Corporate Social Responsibility 143 Societal Marketing 152 Societal Responses to Ethical Issues in Marketing 156 Review158 Key Terms159 Study Questions 160 Recommended Reading 160 References160 CASE 9 The Cooperative—Leading the Way in Corporate Social Responsibility163 CASE 10 Coop Danmark’s Anti Food Wastage Initiatives: Social Responsibility or Good Business?166 Side viii 6 Marketing Research and Business Intelligence 169 Business Intelligence and Marketing Information Systems 170 Types of Marketing Research 175 Stages in the Marketing Research Process 177 The Essential Differences between Qualitative and Quantitative Research 190 Ethical Issues in Marketing Research 191 Review 192 Key Terms 194 Study Questions 195 Recommended Reading 195 References 195 CASE 11 iPod: Research in Consumers’ Perceptions 197 CASE 12 TomTom: Helping Us Find Our Way Around the Planet 200 7 Market Segmentation and Positioning 203 Why Bother to Segment Markets? 204 The Process of Market Segmentation and Target Marketing 206 Segmenting Consumer Markets 207 Segmenting Organizational Markets 217 Target Marketing 220 Positioning 226 Review 230 Key Terms 231 Study Questions 232 Recommended Reading 232 References 232 CASE 13 Utilization of Loyalty Card Data for Segmentation—Morelli’s Story 235 CASE 14 Segmentation and Product Lines: The LEGO Case 240 PART 2 Creating Customer Value 243 8 Value Through Brands 245 Products, Services and Brands 246 The Product Line and Product Mix 246 Brand Types 247 Why Strong Brands are Important 248 Brand Equity 250 Brand Building 252 Key Branding Decisions 258 Rebranding 261 Brand Extension and Stretching 263 Cobranding 266 Global and PanEuropean Branding 269 Ethical Issues and Antibranding 271 Review 273 Key Terms 275 Study Questions 276 Recommended Reading 276 References 276 CASE 15 Lessons in CoBranding: The Apple/U2 Experience 279 CASE 16 Burberry 282 9 Value Through Services 285 The Service Industries 286 The Nature of Services 290 Managing Services 294 Review 304 Key Terms 305 Study Questions 305 Recommended Reading 305 References 306 CASE 17 Pret A Manger: ‘Passionate About Food’ 308 CASE 18 Nordstrom: A Shining Example of Service Excellence 311 10 Value Through Relationships 313 Value Creation 314 Key Concepts of Relationship Marketing 316 Value and Relational Networks 317 Types of Relationship Management 318 Managing Customer Relationships 320 How to Build Relationships 320 Benefits for the Organization 322 Benefits for the Customer 324 Developing Customer Retention Strategies 325 Technologyenhanced Customer Relationship Management 328 BusinesstoBusiness Relationship Development Strategies 332 Relationship Marketing—Summary 334 Review 335 Key Terms 336 Study Questions 337 Recommended Reading 337 References 337 CASE 19 Starbucks: Managing Customer Relationships One Cup at a Time 340 CASE 20 Sunderland Football Club and Bidvest Foodservice: Building a Beneficial Partnership 343 11 Value Through Innovation 345 What is a New Product? 347 Creating and Nurturing an Innovative Culture 347 Organizing Effectively for New Product Development 350 Managing the New Product Development Process 352 Competitive Reaction to New Product Introductions 365 Review 365 Key Terms 367 Study Questions 367 Recommended Reading 367 References 368 Side ix CASE 21 In the Dragons’ Den 370 CASE 22 Clorox: Bringing Innovation to Everyday Products 372 12 Value Through Pricing 375 Economists’ Approach to Pricing 376 Costorientated Pricing 377 Competitororientated Pricing 379 Marketorientated Pricing 380 Initiating Price Changes 393 Reacting to Competitors’ Price Changes 395 Ethical Issues in Pricing 396 Review 397 Key Terms 399 Study Questions 399 Recommended Reading 400 References 400 CASE 23 easyJet and Ryanair 401 CASE 24 The Surge of German Limited Range Discounters 405 PART 3 Communicating and Delivering Customer Value 409 13 Integrated Marketing Communications 411 Integrated Marketing Communications Approach 412 Planning for Integrated Marketing Communications 415 Elements of Integrated Marketing Communications 419 Review 435 Key Terms 437 Study Questions 438 Recommended Reading 438 References 438 CASE 25 Coke Gets Personal: The Share a Coke Campaign 440 CASE 26 Comparethemarket.com: ‘Simples’ 443 14 Mass Marketing Communications 447 Introduction 448 Advertising 449 Strong and Weak Theories of How Advertising Works 451 Advertising: the Practicalities of Developing a Strategy 452 Organizing for Campaign Development 462 Product Placement 464 Public Relations and Sponsorship 465 Sales Promotion 472 Ethical Issues in Advertising 477 Review 478 Key Terms 480 Study Questions 481 Recommended Reading 481 References 482 CASE 27 Toyota and Buddy 484 CASE 28 Volvo: Fundamentally Changing the Way Cars are Marketed and Sold 487 15 Direct Marketing Communications 491 Personal Selling and Sales Management 492 Characteristics of Modern Selling 492 Personal Selling Skills 494 Sales Management 500 Exhibitions and Trade Shows 507 Direct Marketing 510 Direct Marketing Campaigns 512 Managing a Direct Marketing Campaign 517 Ethical Issues in Direct Communications 520 Review 521 Key Terms 522 Study Questions 523 Recommended Reading 524 References 524 CASE 29 Selling in China 526 CASE 30 JCPenney and Direct Marketing 528 16 Digital Marketing and Social Media 531 What is Digital Marketing? 533
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