Essentials of Marketing: A Marketing Strategy Planning Approach (ISE)

✍ Scribed by Joseph P. Cannon; William D. Perreault, Jr.; E. Jerome McCarthy

• Publisher: McGraw Hill
• Year: 2024
• Tongue: English
• Leaves: 933
• Edition: 18
• Category: Library

✦ Synopsis

Essentials of Marketing Is Designed to Satisfy Your Needs.

Cannon/Perreault, Essentials of Marketing looks at the best of marketing, where marketing practices meet target customer needs to make the world a better place. Dating back to Jerry McCarthy’s ground-breaking categorization of the 4Ps of Marketing, our practical, research-based product continues to emphasize marketing strategy planning through:

• Active Learning. Connect activities including SmartBook 2.0 providing dynamic, personalized reading experience with Video Cases, Case Analyses and Application-Based Activities designed to drive critical thinking and engagement through real-word scenarios.

• Purpose and purpose orientation. Reviewing an organization’s reason for being that extends beyond profit and creates value for stakeholders, including customers, employees, suppliers, investors, and communities.

• Diversity, equity, and inclusion. Attention to racial justice, diversity, equity, and inclusion integrated across chapters. Inspired by Professor Shanita Akintonde’s episodes on the McGraw-Hill podcast, Marketing Insights.

• Marketing analytics. Growing coverage of big data and marketing analytics with continued coverage supporting marketing strategy planning.

• Enhanced use of photos, images, and exhibits. Hundreds of additional images and exhibits to enhance student learning. Incorporated throughout the Connect Interactive exercises and instructor PowerPoint slides.

✦ Table of Contents

Cover
Title Page
Copyright page
Preface
Acknowledgments
Brief Contents
Contents
CHAPTER ONE Marketing’s Value to Consumers, Firms, and Society
Marketing—What’s It All About?
Marketing Is Important to You
How Should We Define Marketing?
Macro-Marketing
The Role of Marketing in Economic Systems
Marketing’s Role Has Changed a Lot over the Years
What Does the Marketing Concept Mean?
The Marketing Concept and Customer Value
The Marketing Concept, Social Responsibility, and Marketing Ethics
Learning Objective Review
Key Terms
Questions and Problems
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER TWO Marketing Strategy Planning
The Management Job in Marketing
What Is a Marketing Strategy?
Selecting a Market-Oriented Strategy Is Target Marketing
Developing Marketing Mixes for Target Markets
The Marketing Plan Guides Implementation and Control
Recognizing Customer Lifetime Value and Customer Equity
What Are Attractive Opportunities?
Marketing Strategy Planning Process Highlights Opportunities
Types of Opportunities to Pursue
International Opportunities Should Be Considered
Learning Objective Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER THREE Evaluating Opportunities in the Changing Market Environment
The Market Environment
Objectives Should Set Firm’s Course
Company Resources May Limit Search for Opportunities
Analyzing Competitors and the Competitive Environment
The Economic Environment
The Technological Environment
The Political Environment
The Legal Environment
The Cultural and Social Environment
Screening Criteria Narrow Down Strategies
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER FOUR Focusing Marketing Strategy with Segmentation and Positioning
Search for Opportunities Can Begin by Understanding Markets
Naming Product-Markets and Generic Markets
Market Segmentation Defines Possible Target Markets
Target Marketers Aim at Specific Targets
What Dimensions Are Used to Segment Markets?
A Best Practice Approach to Segmenting Product-Markets
More Sophisticated Techniques May Help in Segmenting and Targeting
Differentiation and Positioning Take the Customer Point of View
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER FIVE Final Consumers and Their Buying Behavior
Consumer Behavior: Why Do They Buy What They Buy?
Economic Needs Affect Most Buying Decisions
Psychological Influences within an Individual
Social Influences Affect Consumer Behavior
Culture, Ethnicity, and Consumer Behavior
Individuals Are Affected by the Purchase Situation
The Consumer Decision Process
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER SIX Business and Organizational Customers and Their Buying Behavior
Business and Organizational Customers—A Big Opportunity
Organizational Customers Are Different
A Model of Business and Organizational Buying
Step 1: Defining the Problem
Step 2: The Decision-Making Process
Step 3: Managing Buyer–Seller Relationships in Business Markets
Manufacturers Are Important Customers
Producers of Services—Smaller and More Spread Out
Retailers and Wholesalers Buy for Their Customers
The Government Market
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER SEVEN Improving Decisions with Marketing Information
Effective Marketing Requires Good Information
Changes Are Under Way in Marketing Information Systems
The Scientific Method and Marketing Research
Five-Step Approach to Marketing Research
Step 1: Defining the Problem
Step 2: Analyzing the Situation
Step 3: Getting Problem-Specific Data
Step 4: Interpreting the Data
Step 5: Solving the Problem
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER EIGHT Elements of Product Planning for Goods and Services
The Product Area Involves Many Strategy Decisions
What Is a Product?
Differences between Goods and Services
Technology and Intelligent Agents Add Value to Products
Branding Is a Strategy Decision
Achieving Brand Familiarity
Branding Decisions: What Kind? Who Brands?
Packaging Promotes, Protects, and Enhances
Product Classes Help Plan Marketing Strategies
Consumer Product Classes
Business Products Are Different
Business Product Classes—How They Are Defined
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER NINE Product Management and New-Product Development
Innovation and Market Changes Create Opportunities
Managing Products over Their Life Cycles
Product Life Cycles Vary in Length
Planning for Different Stages of the Product Life Cycle
New-Product Planning
An Organized New-Product Development Process Is Critical
New-Product Development: A Total Company Effort
Need for Product Managers
Managing Product Quality
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER TEN Place and Development of Channel Systems
Marketing Strategy Planning Decisions for Place
Place Decisions Are Guided by “Ideal” Place Objectives
Channel System May Be Direct or Indirect
Channel Specialists May Reduce Discrepancies and Separations
Channel Relationships Must Be Managed
Vertical Marketing Systems Focus on Final Customers
The Best Channel System Should Achieve Ideal Market Exposure
Multichannel Distribution and Reverse Channels
Entering International Markets
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER ELEVEN Distribution Customer Service and Logistics
Physical Distribution Gets It to Customers
Physical Distribution Customer Service
Physical Distribution Concept Focuses on the Whole Distribution System
Coordinating Logistics Activities among Firms
The Transporting Function Adds Value to a Marketing Strategy
Which Transporting Alternative Is Best?
The Storing Function and Marketing Strategy
Specialized Storing Facilities May Be Required
The Distribution Center—A Different Kind of Warehouse
Disaster Relief—Logistics Saves Lives
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER TWELVE Retailers, Wholesalers, and Their Strategy Planning
Retailers and Wholesalers Plan Their Own Strategies
The Nature of Retailing
Planning a Retailer’s Strategy
Single- and Limited-Line Retailers Specialize in Similar Products
Evolution of Mass-Merchandising Retailers
Retailing and the Internet
Why Retailers Evolve and Change
Differences in Retailing in Different Nations
Wholesalers Add Value in Different Ways
Merchant Wholesalers Are the Most Numerous
Agents Are Strong on Selling
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER THIRTEEN Promotion—Introduction to Integrated Marketing Communications
Promotion Communicates to Target Markets
Several Promotion Methods Are Available
Someone Must Plan, Integrate, and Manage the Promotion Blend
Which Methods to Use Depends on Promotion Objectives
Promotion Requires Effective Communication
When Customers Initiate the Communication Process
How Typical Promotion Plans Are Blended and Integrated
Adoption Processes Can Guide Promotion Planning
Promotion Blends Vary over the Product Life Cycle
Setting the Promotion Budget
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER FOURTEEN Personal Selling and Customer Service
The Importance and Role of Personal Selling
What Kinds of Personal Selling Are Needed?
Order Getters Develop New Business Relationships
Order Takers Nurture Relationships to Keep the Business Coming
Supporting Sales Force Informs and Promotes in the Channel
Customer Service Promotes the Next Purchase
The Right Structure Helps Assign Responsibility
Information Technology Provides Tools to Do the Job
Sound Selection and Training to Build a Sales Force
Compensating and Motivating Salespeople
Personal Selling Techniques—Prospecting and Presenting
Real Sales Jobs
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER FIFTEEN Advertising and Sales Promotion
Advertising, Sales Promotion, and Marketing Strategy Planning
Advertising Is Big Business
Advertising Objectives Are a Strategy Decision
Objectives Determine the Kinds of Advertising Needed
Choosing the “Best” Medium—How to Deliver the Message
Digital and Mobile Advertising
Planning the “Best” Message—What to Communicate
Measuring Advertising Effectiveness Is Not Easy
Avoid Unfair Advertising
Sales Promotion—Do Something Different to Stimulate Change
Managing Sales Promotion
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER SIXTEEN Publicity: Promotion Using Earned Media, Owned Media, and Social Media
Publicity, the Promotion Blend, and Marketing Strategy Planning
Paid, Earned, and Owned Media
Customers Obtain Information from Search, Pass-Along, and Experience
Create Owned Media Content Your Customers Can Use
Earned Media from Public Relations and the Press
Earned Media from Customer Advocacy
Social Media Differs from Traditional Media
Major Social Media Platforms
Strategy Planning for Social Media
Software to Manage, Measure, and Automate Online Media
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER SEVENTEEN Pricing Objectives and Policies
Price Has Many Strategy Dimensions
Objectives Should Guide Strategy Planning for Price
Profit-Oriented Objectives
Sales-Oriented Objectives
Status Quo–Oriented Objectives
Most Firms Set Specific Pricing Policies—To Reach Objectives
Price Flexibility Policies
Price-Level Policies and the Product Life Cycle
Discount Policies—Reductions from List Prices
Allowance Policies—Off List Prices
Pricing Policies for Price Reductions, Financing, and Transportation
Pricing Policies Combine to Impact Customer Value
Legality of Pricing Policies
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER EIGHTEEN Price Setting in the Business World
Price Setting Is a Key Strategy Decision
Some Firms Just Use Markups
Average-Cost Pricing Is Common and Can Be Dangerous
Marketing Managers Must Consider Various Kinds of Costs
Break-Even Analysis Can Evaluate Possible Prices
Marginal Analysis Considers Both Costs and Demand
Additional Demand-Oriented Approaches for Setting Prices
Pricing a Full Line
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Marketing Analytics: Data to Knowledge
CHAPTER NINETEEN Appraisal, Review, and Reflection of Marketing in the 21st Century
Appraisal, Review, and Reflection
How Should Marketing Be Evaluated?
Can Consumer Satisfaction Be Measured?
Micro-Marketing Often Does Cost Too Much
Macro-Marketing Does Not Cost Too Much
Marketing Strategy Planning Process Requires Logic and Creativity
The Marketing Plan Brings All the Details Together
Reflecting on the Future of Marketing: Is Marketing Evil?
Reflecting on the Future of Marketing: Is Marketing Good?
Learning Objectives Review
Key Terms
Questions and Problems
Marketing Planning for Hillside Veterinary Clinic
Suggested Cases
Bonus Chapter 1: Implementing and Controlling Marketing Plans: Metrics and Analysis
Bonus Chapter 2: Managing Marketing’s Link with Other Functional Areas
APPENDIX A Economics Fundamentals
APPENDIX B Marketing Arithmetic
APPENDIX C Career Planning in Marketing
APPENDIX D Hillside Veterinary Clinic Marketing Plan
Cases
1. McDonald’s “Seniors” Restaurant
2. Guadalupe Natural Foods, Inc.
3. COLORADO United Soccer Academy
4. Petosega Tech Support
5. Resin Valleys
6. Valley Steel
7. Lake Omarama Lodge
8. Zefferelli’s Italian Restaurant
9. Rest Easy Motel
10. Anderson’s Ice Center
11. Luciana’s Running Shop
12. PersonalHealth.com—Custom Vitamins
13. Pierce-Paul, Inc. (PPI)
14. Schrock & Oh Design
15. The Wabash Group
16. Montana Company
17. WaterWiser, Inc.
18. West Thomasville Volunteer Fire Department (WTVFD)
19. PlanMyWedding.com
20. Lake Manina Marine & Camp
21. Gimball-Tonie International (GTI)
22. Bright Light Innovations: The Starlight Stove
23. Wireway Products
24. Abundant Picking
25. ABA Tools (ABA)
26. ZONE6 Custom Castings, Inc.
27. Canadian Mills, Ltd.
28. Kirkwood Home Health Services (KHHS)
29. Kramer & Geary (K&G)
30. Maggiano’s Pizza Pies
31. Brian’s Sustainable Homes
32. Mallory’s Lemonade Stand (A)
33. Mallory’s Lemonade Stand (B)
34. Working Girl Workout
35. The Norbank Baseball Club
36. BE Bold Electric Bikes
37. Chick-fil-A: “Eat Mor Chikin” (Except on Sunday)
38. Bass Pro Shops (Outdoor World)
39. Toyota Prius: The Power of Excellence in Product Innovation and Marketing
40. Potbelly Sandwich Works Grows through “Quirky” Marketing
41. Suburban Regional Shopping Malls: Can the Magic Be Restored?
42. Invacare Says “Yes, You Can!” to Customers Worldwide
43. Segway Finds Niche Markets for Its Human Transporter Technology
44. Red Light Challenge
Glossary
Notes
Author Index
Company Index
Subject Index