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P R I N C P L E S
O F
Vlarketinq
Global Edition
PHILIP KOTLER
Northwestern University
GARY ARMSTRONG
University of North Carolina
Up per Saddle River Boston Co lum bus San Francisco N ew York
Indianapolis London Toronto Sydney Singapore Tokyo Montreal
Dubai M adrid Ho ng Kong Mexico City Munich Paris A msterdam Cape Town
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\ r ; ^ ^
rH
Contents
Marketing: Creating and Capturing
Customer Value 26
I What
Is
Marketing? 28
.i Marketing Defined 29 | The Marketing Process29
Understanding the M arketplace and Customer
Needs30
Customer Needs, Wants, and Dem ands 30 j Market Offerings
Produ cts, Services, and Experiences
30 |
Custom er Value and
Satisfaction 31 | Exchanges and Relationships 31 | Markets31
DesigningaCustomer-Driven Marketing Strategy 32
Selecting Customers to Serve 32 j Choosing a Value
Proposition 33 | Marketing Management Orientations33
PreparinganIntegrated Marketing Plan and
Program36
Building Customer Relationships
36
Customer R elationship M anagement 37 | The Changing
NatureofCustomer Relationships 40 | Partner Relationship
Management 43 /
Capturing Value from Customers45
Creating Customer Loyalty and Retention 45 Growing Share
of Customer 46 | Building Custom er Equity47
The Chang ing M arketing Landscape49
The Digital Age 49 | Rapid Glob alization 50 j The Callfor
More EthicsandSocial R esponsibility 51 j The Growthof
Not-for-Prof it Marketin g 52 " '
So,What
is
Marketing? Pulling It
All
Together 53
Reviewing O bjectives and Key Terms 54 | Key Terms 56 |
Discussing
ApplyingtheConcepts 56 | Focuson
Technology 56 | FocusonEthics 57 | Marketing bythe
Numbers57
V i d e o C a s e
Harley-Davidson
57
C o m p a n y C a s e
Build-A-Bear: Build-A-Memory58
Marketing Strategy a nd the M arketing
Mix 72
Customer-Driven M arketing Strategy 72 j Developingan
Integrated Marketing Mix76
Ma naging the Marketing Effort77
Marketing Analysis
77
j Marketing Planning 78 | Marketing
Implementation
79
j Marketing Department Organization80
Marketing Control81
Measuring and Managing Return on Marketing
Investment81
Reviewing ObjectivesandKey Terms 83 | Key Terms 84 |
Discussing
ApplyingtheConcepts 84 | Focuson
Technology 85 | FocusonEthics 85 | Marketingby the
Numbers85
V i d e o C a s e Live Nation- 86
C o m p a n y C a s e
Bahrain Bay: Building Custom er R elationsfor
the Future86
0 3
Chapter
3
Analyzing the Marketing
Environment 88
The Com pany s Microenvironment90
The Company 91 | Suppliers 91 | Marketing
Intermediaries 91 | Competitors 92 j Publics 93
Customers
93
The Com pany s Macroenvironment94
Demographic Environment 94 | Economic Environm ent103
Natural Environment 105 j Technological Environment 106 |
Political and Social Environment 108 | Cultural Environment111
Respondingtothe Marke ting Environment115
Reviewing Objectives
and
Key Terms
117 |
Key Terms
118 |
Discussing
ApplyingtheConcepts 118 | Focuson
Technology 119 | FocusonEthics 119 | Marketingby the
Numbers119
V i d e o C a s e
TOMS Shoes119
C o m p a n y C a s e
Prius: Leading a WaveofHybrids120
Chapter
2
Company and Marketing Strategy:
Partnering to Build Customer
Relationships 60
Com panywide Strategic Planning: Defining
Marketing s Role
62
Defining a Market-Oriented Mission 63 | Setting Com pany
Objectives and Goals 64 j Designing the Business Portfolio 65
Planning Marketing: Partnering
to
Build Customer
Relationships70
Partnering with Other Company Departments70
with Othersinthe Marketing System71
Partnering
Chapter4
Managing Marketing Information
to Gain Customer Insights 122
Marketing Information and Customer Insights 123
Assessing Marketing Information Needs126
Developing Marketing Information
126
Internal Data 126 j Marketing Intelligence127
Marketing Research 129
Defining the Problem an d Research Objectives
129 [
Developin
the Research Plan 130 | Gathering Secondary Data 131 ;
Primary Data Collection 133 j Implementing the Research
Plan 143 j Interpreting and Reporting the Findings143
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12 Contents
Chapter 5
Analyzing and Using Marketing Information 144
Customer Relationship Management (CRM) 144 | Distributing
and Using Marketing Information
146
Other Marketing Information Considerations 146
Mark eting Research in Small Businesses and Nonprofit
Organizations 146 j International Marketing Research148
Public Policy and Ethics in Marketing Research
149
Reviewing Objectives and Key Terms
153 |
Key Terms
154
Discussing
Applying the Concepts
154 |
Focus
on
Technology
154 |
Focus on Ethics
155 |
Marketing by the
Numbers
155
Video Case
ZIBA 155
C o m p a n y C a s e
Enterprise Rent-A-Car: Measuring Service
Quality
156
Consumer Markets and Consumer
Buyer Behavior158
Model of Consumer Behavior 160
Characteristics Affecting Consumer Behavior 161
Cultural Factors
161 |
Social Factors
164
Personal
Factors
170 |
Psychological Factors
172
Types of Buying Decision Behavior 176
Complex Buying Behavior
176 |
Dissonance-Reducing Buying
Behavior
176 |
Habitual Buying Behavior
176 |
Variety-Seeking Buying Behavior177
The Buyer Decision Process 177
Need Recognition 178 | information Search 178 j Evaluation
of Alternatives
178 |
Purchase Decision
179 |
Postpurchase
Behavior
179
The Buyer Decision Process for New Products 181
Stagesinthe Ado ption P rocess 182 j Individual Differences
in Innovativeness
182 j
Influence
of
Product Characteristics
on RateofAdoption 183 | Reviewing Objectives and Key
Terms
183 |
Key Terms
184 |
Discussing
Applying
the
Concepts
185 |
Focus on Technology
185 |
Focus
on
Ethics
186 |
Marketing by the Num bers
186
V i d e o C a s e
Wild Planet
186
C o m p a n y C a s e
Arabic Blackberry: A dapting
to the
Language
of
the Market
187
Chapter 6
Business Markets and Business
Buyer Behavior 190
Business Markets192
Market Structure and Demand 193 j Natureofthe Buying
Unit
194 |
Types
of
Decisions and the Decision Process
194
Business Buyer Behavior 196
Major Types
of
Buying Situations
197 j
Participants
in
the
Business Buying Process 198 | Major Influences on Business
Buyers
199 |
The Business Buying Process
200 |
E-Procurem ent: Buying on the Internet
204
Institutional and Government Markets 205
Institutional Markets
205 |
Government Markets
206 j
Review ing O bjectives and Key Terms
208 |
Key Terms
209 |
Discussing
Applying the Concepts
209 |
Focus
on
Technology
210 |
Focus on Ethics
210 |
Marketing by
the
Numbers210
Video Case Eaton 211
C o m p a n y C a s e
Boeing: Selling a D ream(liner)
211
Chapter 7
Customer-Driven Marketing
Strategy: Creating Value
for Target Customers214
Market Segmentation 216
Segmenting Consum er M arkets
216 |
Segmenting Business
Markets
222 j
Segmenting International Markets
223 |
RequirementsforEffective Segmentation224
Market Targeting 225
Evaluating Market Segments
225 ;
Selecting Target Market
Segments 225 j Socially Responsible Target Marketing232
Differentiation and Positioning 233
Positioning Maps
233 |
Cho osing a Differentiation
and
Positioning Strategy
234 j
Communicating and Delivering
the Chosen Position
241 |
Reviewing Objectives and Key
Terms 241 | Key Terms 242 | Discussing Applyingthe
Concepts
242 |
Focus on Technology
243 |
Focus
on
Ethics
243 |
Marketing
by
the Nu mbers
243 |
V i d e o C a s e
Meredith
244
C o m p a n y C a s e
Sport England: Segm enting the British Sports
Market244
Chapter 8
Products, Services, and Brands:
Building Customer Value246
What Is a Product? 248
Produ cts, Services, and Experiences 248 | LevelsofProduct
and Services
249 |
Produ ct and Service Classifications
250
Product and Service Decisions 253
Individual Product and Service Decisions
253 |
Produ ct Line
Decisions
258 |
Produ ct Mix Decisions
258
Branding Strategy: Building Strong Brands 259
Brand Equity
260 j
Building Strong Brands
262 |
Managing
Brands268
Services Marketing 268
Nature and Characteristicsofa Service 268 j Marketing
Strategies
for
Service F irms
270
Reviewing Objectives and
Key Terms 275 | Key Terms 276 | Discussing Applying
the Concepts
276 |
Focus on Technology
277 |
Focus
on
Ethics 277 | Marketing by the Num bers 277
V i d e o C a s e
Swiss Army Brands
278
C o m p a n y C a s e Britvic: CreatingaBrand Flavor278
New-Product Development and
Produc t Life-Cycle Strategies280
New-Product Development Strategy 282
The New-Product Development Process 283
Idea Generation
283 |
Idea Screening
286 |
Concept
Development and Testing
286 j
Marketing Strategy
Chapter 9
Development
287 |
Business Analysis
288
Development 288 j Test Marketing289
Commercialization
292
Product
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Contents 1
Managing New-Product Development292
Customer-Centered New-Product Development293
Team-Based New-Product Development 293 j Systematic
New-Product Development295
Product Life-Cycle Strategies 296
Introduction Stage 300 ; Growth Stage 300 | Maturity
Stage 301 | Decline Stage302
Additional Product and Service Considerations 304
Product Decisions and Social Responsibility
304 |
International
Product and Services Marketing 304 | Reviewing Objectives
and Key Terms 306 | Key Terms 307 | Discussing &
Applying the Concepts 307 | FocusonTechnology 308
FocusonEthics 308 | Marketing by the Num bers 308
V i d e o C a s e Electrolux309
C o m p a n y C a s e
Nintendo: Reviving a C ompany, Transforming
a Market309
hapter
10
Pricing: Understanding and
Capturing Customer Value 312
What Is
a
Price?
314
FactorstoConsider When Setting Prices 315
Customer Perceptions
of
Value
315 ;
Company
and
Product
Costs 319 | Other InternalandExternal Considerations
Affecting Price Decisions 323 j Reviewing Objectivesand
Key Terms 330 | Key Terms 331 | Discussing
Applying
the Concepts 331 | FocusonTechnology 331 | Focuson
Ethics 331 | Marketingby theNumbers332
V i d e o C a s e IKEA332
C o m p a n y C a s e
easyjet: S taying Aheadinthe Pricing
Game 332
hapter
12
Marketing Channels: Delivering
Customer Value 360
Supply Chains an d the Value Delivery Network
361
The Nature and Impo rtanceofM arketing
Channels363
How Channel Members Add Value 363 j NumberofChannel
Levels365
Channel Behavior and Organization
366
Channel Behavior 366 | Vertical Mark eting Systems367 |
Horizontal M arketing Systems
369 |
Multichannel Distributio
Systems 370 I Changing Channel Organization371
Cha nnel Design Decisions372
Analyzing Consumer Needs
373 |
Setting Channe l Objectives
374 | Identifying Major Alternatives 374 | Evaluating the
Major Alternatives 375 | Designing International Distribution
Channels376
Channel Management Decisions376
Selecting Channel Members 376 | Managing and Motivating
Channel Members 377 [ Evaluating Channel Members378
Public Policy a nd Distribution Decisions379
Marketing Logistics and Supply Chain
Management
380
Nature and ImportanceofMarketing Logistics 380 j Goals of
the Logistics System 381 | Major Logistics Functions 382 |
Integrated Logistics Management385
and Key Terms387
Reviewing Objective
Discussingey Terms 388
Applying the Concepts 388 | FocusonTechnology 389 |
Focus
on
Ethics
389 [
Marketing by the Num bers
389
V i d e o C a s e
Progressive
390
C o m p a n y C a s e
Zara: The Technology Giantofthe Fashion
World390
hapter11
Pric ing Strategies
334
New-Product Pricing Strategies336
Market-Skimming Pricing 336 j Market-Penetration
Pricing337
ProductMixPricing Strategies 337
Produ ct Line Pricing 337 | Optional-Product Pricing338 j
Captive-Product Pricing 338 | By-Product Pricing 339
Product Bundle Pricing339
Price-Adjustment Strategies339
Discount and A llowance Pricing 339 | Segmented Pricing340
Psychological Pricing 341 | Promotional Pricing344 |
Geographical Pricing 344 jDynamic Pricing346 |
International Pricing
347
Price Chan ges324
Initiating Price Changes 348 | Responding to Price
Changes350
Public PolicyandPricing 351
Pricing Within Channel Levels 352 j Pricing Across Channel
Levels
354 |
Reviewing Objectives
and
Key Terms
355 |
Key Terms 355 | Discussing
Applying the C oncepts 356 |
Focus on T echnology 356 | Focus on Ethics 356 | Marketing
by the Numbers357
V i d e o C a s e General Electric357
C o m p a n y C a s e
Payless ShoeSource: Paying Lessfor
Fashion
357
hapter
13
Retailing and Wholesaling 392
Retailing 394
Types
of
Retailers
394 j
Retailer Marketing Decisions
402 |
The FutureofRetailing408
Wholesaling 413
TypesofWholesalers 414 \ Wholesaler Marketing
Decisions 414 j TrendsinWholesaling 417 | Reviewing
ObjectivesandKey Terms 419 | Key Terms 419 |
Discussing Applying the Concepts 420 | Focuson
Technology 420 | Focus on Ethics 420 | Marketing bythe
Numbers 421
V i d e o C a s e
Wellbeing421
C o m p a n y C a s e
Whole Foods:
A
Whole-istic Strategy
421
hapter
14
Communicating Customer Value:
Integrated Marketing
Communications Strategy 424
The Promotion
Mix 426
Integrated Marketing Communications
427
The New Marketing Comm unications Landscape 427 ] The
Shifting Marketing Communications Model 428 | The Needf
ntegr ted
Marketing Communications
429
A Viewofthe Com m unicat io n Process 431
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14 Contents
Steps in Developing Effective Marketing
Communication 433
Identifying the Target Audien ce 433 j Determining the
Communication Objectives
433 ]
Designing a Message
434 |
Choosing Media
436 |
Selecting the Message Source
438
Collecting Feedback438
Setting the Total Promotion Budget and Mix 439
Setting the Total Prom otion Budget
439 |
Shaping the Overall
Promotion Mix
440 j
Integrating the Promotion Mix
444
Socially Responsible Marketing
Communication 445
Advertising and Sales Promotion 445 ;Personal Selling446
Reviewing Objectives and Key Terms
446 |
Key Terms
447 |
Discussing
Applying the Concepts
447 |
Focus
on
Technology
448 |
Focus on Ethics
448 |
Marketing by
the
Numbers 448
V i d e o C a s e
Crispin Porter
+
Bogusky
449
C o m p a n y C a s e Burger King: Promo ting a Food Fight449
Chapter 15
Advertising and Public
Relations452
Advertising 454
Setting A dvertising Objectives
455
Budget
456 |
Developing Adv ertising Strategy
457
Evaluating Advertising Effectiveness and Return on Advertising
Setting the Advertising
Investment
467
Other A dvertising C onsiderations468
Public Relations 472
The Role and Im pactofPublic R elations 472 | Major Public
Relations Tools
474 |
Reviewing Objectives and Key
Terms
475 |
Key Terms
476 |
Discussing
Applying
the
Concepts 476 | Focus on Technology 477 | Focus on
Ethics
477 |
Marketing by the Num bers
477
Video Case ETRADE 478
Company Case Coca-Cola: Another Advertising Hit 478
Chapter 16
Personal Selling and Sales
Promotion480
Personal Selling 482
The NatureofPersonal Selling 482 | The Roleofthe Sales
Force
483
Managing the Sales Force 485
Designing Sales Force Strategy and Structure 485 j Recruiting
and Selecting Salespeople 490 | Training Salespeo ple 491 j
Compensating Salespeople
492 j
Supervising and Motivating
Salespeople
493 |
Evaluating Salespeople and Sales Force
Performance
495
The Personal Selling Process 496
Steps in the Selling Process
496 j
Personal Selling and
Managing Customer Relationships
499
Sales Promotion 499
Rapid Growth
of
Sales Prom otion 501
|
Sales Promotion
Objectives
502 |
Major Sales Prom otion Tools
503 I
Developing the Sales Promotion Program
506 j
Reviewing
Objectives and Key Terms 507 | Key Terms 508
Chapter 17
Discussing
Applying the Concepts
508 |
Focus
on
Technology 508 | Focus on Ethics 509 | Marketing by the
Numbers 509
V i d e o C a s e
The Principal Financial Group
509
C o m p a n y C a s e
Procter Gamble: Selling Through Customer
Business Development
510
Direct and On line Marketing:
Building Direct Customer
Relationships512
The New Direct Marketing Model 514
Growth and Benefits of Direct Marketing 515
Benefits to Buyers
516 |
Benefits to Sellers
516
Customer Databases and Direct Marketing 517
Forms of Direct Marketing 519
Direct-Mail M arketing
519 ]
Catalog Marketing
520
Telephone Marketing
521 i
Direct-Response Television
Marketing
523 j
Kiosk Marketing
525 |
New Digital Direct
Mark eting Technologies
525
Online Marketing 528
Marketing and the Internet
528- j
Online Marketing
Domains 529 | Setting Up an Online Marketing Presence532 |
The Promise and Challenges
of
Online Marketing
540
Public Policy Issues in Direct Marketing 541
Irritation, Unfairness, Deception, and Fraud 541 | Invasio n of
Privacy
542 jA
Need for Action
543 j
Reviewing Objectives
and Key Terms
544 |
Key Terms
545 |
Discussing
Applying
the Concepts 545 | Focus on Technology 545 | Focuson
Ethics
546 |
Marketing by the Num bers
546
Video Case
Google 546
C o m p a n y C a s e Viagogo: Online Ticket Reselling Wars Beginin
Europe
547
Chapter 18
Creating Competitive
Advantage550
Com petitor Analysis552
Identifying Competitors
552 |
Assessing Com petitors
554
Selecting Competitors to Attack and Avoid
555 |
Designing a
Competitive Intelligence System558
Competitive Strategies 558
Approaches to Marketing Strategy
558 j
Basic Competitive
Strategies
560 |
Com petitive Positions
561 |
Market Leader
Strategies 563 | Market Challenger Strategies 566 | Market
Follower Strategies 567 | Mark et Nicher Strategies567
Balancing Customer and Competitor
Orientations 570
Reviewing Objectives and Key Terms 571 | Key Terms571
Discussing
Applying the Concepts
571 |
Focus on
Technology
572 |
Focus on Ethics
572 |
Marketing by
the
Numbers
572
V i d e o C a s e
Umpqua Bank
573
C o m p a n y C a s e
Bose: Com peting by Being Truly Different 573
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Chapter 19
The Global Ma rketplace 57 6
Global M arketing Today 578
Looking at the Global Marketing Environment 580
The Interna tional Trade System 580 j E conomic
Enviro nmen t 582 ; Political-Legal Enviro nme nt 583 j
Cultural Environment 584
Dec iding Whether to Go Global 587
Deciding Which Markets to Enter 588
Deciding How to Enter the Market 590
Exporting 590 j Joint Venturing 590 j Direct Investm ent 592
Dec iding on the Glo bal Marketing Program 592
Product 593 | Promotion 595 j Price 596 | Distribution
Channels 598
Deciding on the Globa l Marketing
Organization 599
Review ing Objectives and Key Terms 600 | Key Terms 601 |
Discussing
Applying the Concepts 601 | Focus on
Technology 602 | Focus on Ethics 602 | Ma rketing by the
Numbers 602
V i d e o C a s e Nivea 603
C o m p a n y C a s e Nokia: Envisioning a Connected World 603
Chapter 20
Sustainable M arketing: Social
Responsibility and Ethics 606
Sustainable Marketing 608
Contents 15
Social Criticisms of M arketing 610
Ma rketing's Impact on Individual Consum ers 610
Mark eting's Impact on Society as a Whole 615 | Mark eting's
Impact on Other Businesses 618
Consumer Actions to Promote Sustainable
Marketing 619
Consum erism 619 | Environmentalism 620 Public Actions
to Regulate Marketing 623
Business Actions
Toward
Sustainable Marketing 626
Sustainable Marketing Principles 626 | Marketing Ethics 629 j
The Sustainable Company 632
Terms 633 Key Terms 634
Reviewing Objectives and Key
Discussing
Applying the
Conce pts 634 | Focus on Technology 634 | Focus on
Ethics 635 | M arketing by the Num bers 635
V i d e o C a s e Land Rover 635
C o m p a n y C a s e ExxonMobil: Social Responsibility in a
Commodity Market 636
Appendix
1:
Marketing Plan Al
Appendix 2: Marketing by the Numbers A l
Appendix
3:
Careers in Marketing A29
References Rl
Glossary Gl
Credits Cl
Index II
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