BOOK
Marketing Management
Philip Kotler | Kevin Keller | Mairead Brady | Malcolm Goodman | Torben Hansen
(2016)
Additional Information
Book Details
Abstract
The classic Marketing Management is an undisputed global best-seller – an encyclopaedia of marketing considered by many as the authoritative book on the subject. This third European edition keeps the accessibility, theoretical rigour and managerial relevance – the heart of the book - and adds:
- A structure designed specifically to fit the way the course is taught in Europe.
- Fresh European examples which make students feel at home.
- The inclusion of the work of prominent European academics.
- A focus on the digital challenges for marketers.
- An emphasis on the importance of creative thinking and its contribution to marketing practice.
- New in-depth case studies, each of which integrates one of the major parts in the book.
This textbook covers admirably the wide range of concepts and issues and accurately reflects the fast-moving pace of marketing in the modern world, examining traditional aspects of marketing and blending them with modern and future concepts.
A key text for both undergraduate and postgraduate marketing programmes.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Cover | Cover | ||
| Title Page | iii | ||
| Copyright Page | iv | ||
| About the authors | vi | ||
| Brief contents | xi | ||
| Contents | xiii | ||
| Preface | xxv | ||
| Acknowledgements | xxix | ||
| Publisher’s acknowledgements | xxx | ||
| Part 1 Understanding marketing management | 1 | ||
| Chapter 1 Introduction to marketing | 2 | ||
| The value of marketing | 4 | ||
| Making marketing central | 4 | ||
| The scope of marketing | 6 | ||
| What is marketing? | 6 | ||
| Marketing during challenging economic times | 8 | ||
| Marketing’s role in creating demand | 9 | ||
| The new European marketing realities | 10 | ||
| Technology | 11 | ||
| Globalisation | 12 | ||
| Social responsibility | 13 | ||
| A dramatically changed marketplace | 13 | ||
| Changing channels | 17 | ||
| Exploring the range of business philosophies | 19 | ||
| The production philosophy | 20 | ||
| The product philosophy | 20 | ||
| The selling philosophy | 20 | ||
| The marketing philosophy | 20 | ||
| The holistic marketing philosophy | 21 | ||
| Overview of marketing management | 27 | ||
| Chapter 2 Understanding marketing management within a global context | 34 | ||
| What is management? | 36 | ||
| The process of management | 36 | ||
| Why is management difficult? | 42 | ||
| What is marketing management? | 45 | ||
| The core marketing management skills | 45 | ||
| Managing across the organisation | 47 | ||
| Managing networks, relationships and interactions | 49 | ||
| Managing innovation and change | 52 | ||
| Understanding global marketing management | 53 | ||
| Deciding whether to go abroad | 54 | ||
| Deciding how to enter the market | 55 | ||
| Deciding which markets to enter | 57 | ||
| Deciding on standardised or adapted marketing | 59 | ||
| Managing in developing markets | 60 | ||
| Chapter 3 Developing marketing strategies and plans | 70 | ||
| Marketing and customer-perceived value | 72 | ||
| Business environment paradigm change | 72 | ||
| The value delivery process | 72 | ||
| The value chain | 74 | ||
| Core competencies | 75 | ||
| A holistic marketing orientation and customer-perceived value | 79 | ||
| The central role of corporate strategic planning | 80 | ||
| Corporate and divisional strategic planning | 82 | ||
| Defining the corporate mission | 82 | ||
| Relationship between missions and visions | 84 | ||
| Organisation and organisational culture | 85 | ||
| Defining the business | 85 | ||
| Assigning resources to each strategic business unit | 86 | ||
| Building the corporate business portfolio – assessing growth opportunities | 88 | ||
| Guidelines for concentric diversification | 92 | ||
| Guidelines for horizontal diversification | 93 | ||
| Guidelines for conglomerate diversification | 93 | ||
| Business unit strategic planning | 97 | ||
| The business mission | 97 | ||
| SWOT analysis | 98 | ||
| Critique of conventional SWOT analysis | 101 | ||
| Goal formulation | 102 | ||
| Strategic formulation | 102 | ||
| Programme formulation and implementation | 103 | ||
| Feedback and control | 105 | ||
| The nature and content of a marketing plan | 105 | ||
| Contents of the marketing plan | 106 | ||
| Sample marketing plan: €uromart | 107 | ||
| Introduction | 107 | ||
| Chapter 4 Managing digital technology in marketing | 114 | ||
| Digital technologies in marketing | 116 | ||
| Understanding digital marketing | 117 | ||
| The range of technologies in marketing | 118 | ||
| Informational and interaction perspectives | 120 | ||
| Managing digital technologies | 122 | ||
| Selection of digital technologies | 123 | ||
| Supporting the adoption of digital technologies | 123 | ||
| Exploitation of digital technologies | 125 | ||
| Uniting marketing and IT staff | 125 | ||
| Understanding the digital customer: web, social and mobile | 127 | ||
| The web | 127 | ||
| Understanding social networking | 131 | ||
| Mobile and smartphones | 139 | ||
| Part 1 Case study: Virgin Atlantic | 147 | ||
| Part 2 Capturing marketing insights | 149 | ||
| Chapter 5 The changing marketing environment and information management | 150 | ||
| The company environment | 152 | ||
| The marketing environment | 152 | ||
| Analysing the macroenvironment | 152 | ||
| The sociocultural and demographic environment | 155 | ||
| The economic environment | 160 | ||
| The social–cultural environment | 161 | ||
| The ecological and physical environment | 162 | ||
| The technological environment | 166 | ||
| The political–legal environment | 167 | ||
| Managing the marketing information system | 168 | ||
| Components of a modern marketing information system | 168 | ||
| Internal records | 170 | ||
| The marketing intelligence system | 170 | ||
| Databases, data warehousing and data mining | 172 | ||
| Chapter 6 Managing market research and forecasting | 182 | ||
| The marketing research system | 184 | ||
| The marketing research process | 185 | ||
| Step 1: define the problem, the decision alternatives and the research objectives | 186 | ||
| Step 2: develop the research plan | 187 | ||
| Step 3: collect the information | 199 | ||
| Step 4: analyse the information | 200 | ||
| Step 5: present the findings | 201 | ||
| Step 6: make the decision | 202 | ||
| Overcoming barriers to the use of marketing research | 202 | ||
| Measuring marketing productivity | 204 | ||
| Marketing-mix modelling | 204 | ||
| Forecasting and demand measurement | 204 | ||
| The measures of market demand | 205 | ||
| A vocabulary for demand measurement | 206 | ||
| Estimating current demand | 208 | ||
| Estimating future demand | 210 | ||
| Chapter 7 Analysing consumer markets | 216 | ||
| The study of consumer behaviour | 218 | ||
| Culture | 218 | ||
| Social groups | 221 | ||
| The individual consumer | 223 | ||
| The interaction between dimensions | 227 | ||
| Key psychological processes | 227 | ||
| Motivation: Freud, Maslow, Herzberg | 228 | ||
| Perception | 229 | ||
| Learning | 231 | ||
| Memory | 231 | ||
| Perspectives on consumer behaviour | 233 | ||
| The behaviourist perspective | 233 | ||
| The information-processing perspective | 233 | ||
| The emotional perspective | 234 | ||
| The cultural perspective | 236 | ||
| A multi-perspective approach | 237 | ||
| The buying decision process: the five-stage model | 237 | ||
| Problem recognition | 239 | ||
| Information search | 239 | ||
| Evaluation of alternatives | 240 | ||
| Purchase decision | 242 | ||
| Post-purchase behaviour | 244 | ||
| Other theories of consumer decision making | 246 | ||
| Level of consumer involvement | 246 | ||
| Behavioural decision theory and behavioural economics | 249 | ||
| Decision heuristics | 251 | ||
| Framing | 251 | ||
| Mental accounting | 251 | ||
| Profiling consumer product buying and usage behaviour | 252 | ||
| Chapter 8 Analysing business markets | 260 | ||
| What is organisational buying? | 262 | ||
| The business market versus the consumer market | 262 | ||
| Buying situations | 265 | ||
| Systems buying and selling | 267 | ||
| Participants in the business buying process | 268 | ||
| The buying centre | 268 | ||
| Buying centre influences | 269 | ||
| Targeting firms and buying centres | 269 | ||
| The purchasing/procurement process | 270 | ||
| Stages in the buying process | 271 | ||
| Problem recognition | 271 | ||
| General need description and product specification | 272 | ||
| Supplier search | 272 | ||
| Proposal solicitation | 274 | ||
| Supplier selection | 274 | ||
| Order-routine specification | 277 | ||
| Performance review | 277 | ||
| Managing business-to-business relationships | 278 | ||
| The role of uncertainty in business relationships | 278 | ||
| Transaction cost economics | 279 | ||
| Network theory | 280 | ||
| Vertical coordination | 282 | ||
| Institutional and government markets | 285 | ||
| Chapter 9 Dealing with competition | 294 | ||
| Competitive forces | 296 | ||
| Identifying competitors | 297 | ||
| Analysing competitors | 299 | ||
| Strategies | 300 | ||
| Objectives | 300 | ||
| Strengths and weaknesses | 301 | ||
| Selecting competitors | 302 | ||
| Selecting customers | 303 | ||
| Competitive strategies for market leaders | 304 | ||
| Expanding the total market | 306 | ||
| Protecting market share | 307 | ||
| Expanding market share | 310 | ||
| Other competitive strategies | 311 | ||
| Market-challenger strategies | 311 | ||
| Market-follower strategies | 313 | ||
| Market-nicher strategies | 314 | ||
| Balancing customer and competitor orientations | 316 | ||
| Competitor-centred companies | 316 | ||
| Customer-centred companies | 317 | ||
| Competing in an economic downturn | 317 | ||
| Explore the upside of increasing investment | 317 | ||
| Get closer to customers | 318 | ||
| Review budget allocations | 319 | ||
| Put forth the most compelling value proposition | 319 | ||
| Fine-tune brand and product offerings | 320 | ||
| Part 2 Case study: Cheese odour marketing | 324 | ||
| Part 3 Connecting with customers | 327 | ||
| Chapter 10 Seeking and developing target marketing differentiation strategies | 328 | ||
| Levels of market segmentation | 330 | ||
| Segment group marketing | 330 | ||
| Niche marketing | 331 | ||
| Local marketing | 333 | ||
| Individual marketing | 336 | ||
| Bases for segmenting consumer markets | 337 | ||
| Geographic segmentation | 337 | ||
| Demographic segmentation | 339 | ||
| Life stage | 341 | ||
| Gender | 341 | ||
| Psychographic segmentation | 346 | ||
| Behavioural segmentation | 348 | ||
| Bases for segmenting business markets | 352 | ||
| Market targeting | 353 | ||
| Effective segmentation criteria | 353 | ||
| Evaluating and selecting market segments | 355 | ||
| Additional considerations | 356 | ||
| Creating differentiation and positioning strategies | 358 | ||
| Positioning | 359 | ||
| Establishing category membership | 362 | ||
| Choosing PoPs and PoDs | 363 | ||
| Creating PoPs and PoDs | 365 | ||
| Perceptual or positioning mapping | 366 | ||
| What can positioning analysis do for a company’s business? | 366 | ||
| Positioning maps | 367 | ||
| Developing a positioning strategy | 367 | ||
| Repositioning | 368 | ||
| Developing and communicating a differentiation strategy | 369 | ||
| Cost leadership | 369 | ||
| Distinctive superior quality | 369 | ||
| Cost leadership and differentiation | 370 | ||
| Differentiation strategies | 370 | ||
| The purpose of positioning | 371 | ||
| Chapter 11 Creating customer value, satisfaction and loyalty | 378 | ||
| Building customer value | 380 | ||
| Customer-perceived value | 383 | ||
| Building customer satisfaction | 386 | ||
| Brand inertia and brand loyalty | 386 | ||
| Total customer satisfaction | 388 | ||
| Market offering quality dimension | 392 | ||
| Maximising customer lifetime value | 393 | ||
| Customer profitability | 393 | ||
| Customer lifetime value – conceptual dream or real-time activity? | 395 | ||
| Cultivating customer relationships | 395 | ||
| Customer relationship management | 396 | ||
| Attracting and retaining customers | 398 | ||
| Building customer loyalty | 401 | ||
| Improving loyalty | 401 | ||
| Developing loyalty programmes | 403 | ||
| Recapturing customers | 406 | ||
| The experience economy | 406 | ||
| The value experience | 406 | ||
| The empowered customer | 409 | ||
| Interactive marketing | 410 | ||
| Complexity of markets | 410 | ||
| Emotional turn | 411 | ||
| Chapter 12 Creating and managing brands and brand equity | 420 | ||
| Understanding branding | 423 | ||
| What is a brand? | 423 | ||
| The roles of brands | 424 | ||
| Managing brands: consumers and channels | 427 | ||
| Strategic brand management decisions | 428 | ||
| Creating and managing brand identities: names, logos, slogans and images | 431 | ||
| Managing individual or house brand names | 436 | ||
| Managing brand extensions | 437 | ||
| Managing brand portfolios | 442 | ||
| Brand reinforcing and revitalisation | 443 | ||
| Leveraging secondary associations | 447 | ||
| Growing, sustaining and managing brand equity | 447 | ||
| Chapter 13 Digital and global brand management strategies | 460 | ||
| What is a digital brand? | 462 | ||
| Digital branding as a core management requirement | 463 | ||
| Understanding the digital brand experience | 463 | ||
| Understanding the new consumer decision journey | 465 | ||
| Branding and social networking | 467 | ||
| Linking social networking and the consumer decision journey | 469 | ||
| Customer-managed brands | 470 | ||
| Digital brand communities | 472 | ||
| Online brand communities’ member characteristics | 473 | ||
| Managing global brands | 474 | ||
| Factors leading to increased global branding | 477 | ||
| Managing iconic global brands | 478 | ||
| Operating a global brand strategy | 479 | ||
| Branding in developing economies | 485 | ||
| Celebrity branding | 488 | ||
| How to use celebrities successfully | 488 | ||
| Countries and places as brands | 490 | ||
| Part 3 Case study: San Pellegrino | 498 | ||
| Part 4 Shaping and pricing the market offering | 501 | ||
| Chapter 14 Designing, developing and managing market offerings | 502 | ||
| Product life-cycle marketing strategies | 504 | ||
| Product life cycles | 504 | ||
| Style, fashion and fad life cycles | 505 | ||
| Marketing strategies: the introduction stage and the pioneer advantage | 506 | ||
| Marketing strategies: the growth stage | 510 | ||
| Marketing strategies: the maturity stage | 511 | ||
| Marketing strategies: the decline stage | 515 | ||
| Evidence on and critique of the product life cycle concept | 515 | ||
| Critique of the product life cycle concept | 516 | ||
| Market evolution | 517 | ||
| Emergence | 518 | ||
| Growth | 518 | ||
| Maturity | 518 | ||
| Decline | 519 | ||
| Product (market offering) characteristics and classifications | 519 | ||
| Product levels: the customer-perceived value hierarchy | 520 | ||
| Product/market offerings classifications | 522 | ||
| Differentiation | 524 | ||
| Market offering differentiation | 524 | ||
| Design differentiation | 528 | ||
| Service differentiation | 528 | ||
| Product and brand relationships | 529 | ||
| The product/market offering hierarchy | 529 | ||
| Product/market offering systems and mixes | 530 | ||
| Product-line analysis | 531 | ||
| Product line length | 533 | ||
| Product-mix pricing | 537 | ||
| Co-branding and ingredient branding | 539 | ||
| Packaging, labelling, warranties and guarantees | 540 | ||
| Packaging | 540 | ||
| Labelling | 545 | ||
| Warranties and guarantees | 546 | ||
| Chapter 15 Introducing new market offerings | 552 | ||
| New market offering options | 554 | ||
| Make or buy? | 554 | ||
| Types of new product | 554 | ||
| Challenges in new product/market offering development | 555 | ||
| The innovation imperative | 555 | ||
| New product/market offering success | 556 | ||
| New product/market offering failure | 557 | ||
| Organisational arrangements | 558 | ||
| Budgeting for new product development | 561 | ||
| Organising new product/market offering development | 561 | ||
| Managing the development process, Stage 1: ideas | 562 | ||
| Process stages | 562 | ||
| Idea generation | 563 | ||
| Idea screening | 569 | ||
| Managing the development process, Stage 2: concept to strategy | 571 | ||
| Concept development and testing | 571 | ||
| Marketing strategy development | 574 | ||
| Business analysis | 574 | ||
| Managing the development process, Stage 3: prototype to commercialisation | 576 | ||
| Product and market development | 576 | ||
| Market testing | 577 | ||
| Commercialisation and launch | 580 | ||
| The consumer adoption process | 582 | ||
| Stages in the process | 582 | ||
| Factors influencing the process | 583 | ||
| Chapter 16 Developing and managing pricing strategies | 590 | ||
| Understanding pricing | 592 | ||
| A changing pricing environment | 592 | ||
| How companies price | 593 | ||
| Consumer psychology and pricing | 595 | ||
| Setting the price | 598 | ||
| Step 1: selecting the pricing objective | 598 | ||
| Step 2: determining demand | 600 | ||
| Step 3: estimating costs | 602 | ||
| Step 4: analysing competitors’ costs, prices and offers | 605 | ||
| Step 5: selecting a pricing method | 605 | ||
| Step 6: selecting the final price | 612 | ||
| Adapting the price | 613 | ||
| Geographical pricing (cash, countertrade, barter) | 614 | ||
| Price discounts and allowances | 614 | ||
| Promotional pricing | 615 | ||
| Differentiated pricing | 615 | ||
| Initiating and responding to price changes | 617 | ||
| Initiating price cuts | 617 | ||
| Initiating price increases | 617 | ||
| Responding to competitors’ price changes | 619 | ||
| Part 4 Case study: Burberry | 625 | ||
| Part 5 Communicating value | 627 | ||
| Chapter 17 Designing and managing marketing communications | 628 | ||
| The role of marketing communications | 630 | ||
| The changing marketing communication environment | 630 | ||
| Marketing communications, brand equity and sales | 631 | ||
| The communications process models | 634 | ||
| Developing effective communications | 636 | ||
| Identify the target audience | 636 | ||
| Determine the communications objectives | 637 | ||
| Design the communications | 637 | ||
| Select the communications channels | 642 | ||
| Establishing the total marketing communications budget | 646 | ||
| Financial considerations | 647 | ||
| Deciding on the marketing communications mix | 647 | ||
| Characteristics of the mix | 648 | ||
| Factors in setting the mix | 650 | ||
| Measuring results | 652 | ||
| Managing the integrated marketing communications (IMC) process | 653 | ||
| Coordinating media | 653 | ||
| Implementing IMC | 654 | ||
| IMC or interconnected programmatic marketing communication? | 655 | ||
| The growing importance of social media | 656 | ||
| Media planning – revolution or evolution? | 656 | ||
| Chapter 18 Managing mass and personal communications | 662 | ||
| Developing and managing an advertising programme | 664 | ||
| Setting objectives | 665 | ||
| Deciding on the advertising budget and developing the advertising campaign | 665 | ||
| Managing media matters | 669 | ||
| Evaluating advertising effectiveness | 675 | ||
| Sales promotion | 676 | ||
| Setting objectives | 677 | ||
| Advertising versus sales promotion | 677 | ||
| Major decisions | 678 | ||
| Events, experiences, public and press relations | 680 | ||
| Setting objectives | 680 | ||
| Major sponsorship experiences | 682 | ||
| Creating experiences | 683 | ||
| Major decisions in marketing public relations | 685 | ||
| Marketing public relations | 686 | ||
| Major decisions in marketing press relations | 687 | ||
| Direct marketing | 689 | ||
| Setting objectives | 689 | ||
| The benefits of direct marketing | 690 | ||
| Direct marketing issues | 691 | ||
| Catalogue marketing | 692 | ||
| Telemarketing | 692 | ||
| Other media for direct response marketing | 692 | ||
| Public and ethical issues | 693 | ||
| Interactive marketing | 693 | ||
| Brave new world requires a deeper understanding of consumers | 694 | ||
| Placing advertisements and promotions online | 695 | ||
| Developing and managing the sales force | 698 | ||
| Setting objectives and strategy | 698 | ||
| Sales force management issues | 699 | ||
| Key principles of personal selling | 702 | ||
| The six steps of selling | 702 | ||
| Relationship activity | 703 | ||
| Relationship marketing | 703 | ||
| Part 5 Case study: H&M | 711 | ||
| Part 6 Delivering value | 715 | ||
| Chapter 19 Designing and managing integrated marketing channels and global value networks | 716 | ||
| Marketing channels and value networks | 718 | ||
| The importance of channels | 718 | ||
| What is the role of marketing channels? | 725 | ||
| Channel functions and flows | 725 | ||
| Channel levels | 726 | ||
| Service-sector channels | 727 | ||
| Channel-design decisions | 728 | ||
| Analysing customer needs and wants | 728 | ||
| Establishing objectives and constraints | 730 | ||
| Identifying major channel alternatives | 730 | ||
| Evaluating major channel alternatives | 732 | ||
| Channel-management decisions | 734 | ||
| Selecting channel members | 734 | ||
| Evaluating channel members | 736 | ||
| Modifying channel design and arrangements | 736 | ||
| Channel modification decisions | 736 | ||
| Global channel considerations | 738 | ||
| Channel integration and systems | 739 | ||
| Vertical marketing systems | 739 | ||
| Managing conflict, cooperation and competition | 740 | ||
| Types of conflict and competition | 741 | ||
| Managing channel conflict | 741 | ||
| Integrating multichannel and omnichannel marketing systems | 743 | ||
| Online, mobile and digital channel management | 746 | ||
| Pure-click or online-only companies | 746 | ||
| Online and brick-and-click companies | 747 | ||
| Mobiles and smartphones | 748 | ||
| Location-based mobile | 750 | ||
| Chapter 20 Managing process, people and physical evidence | 756 | ||
| Process design and management | 758 | ||
| A service process blueprint | 760 | ||
| Managing flexibility within the service design | 764 | ||
| Managing variability | 764 | ||
| The service process and customer satisfaction | 765 | ||
| Managing efficiency within the service process | 767 | ||
| Managing people at the customer interface | 769 | ||
| Training service personnel | 771 | ||
| Hiring service personnel | 772 | ||
| Service personnel failure and recovery | 773 | ||
| Customer participation | 773 | ||
| Co-creation of value | 774 | ||
| Level of engagement | 774 | ||
| Managing the role of the customers | 776 | ||
| Managing the physical evidence and experience environment | 777 | ||
| Senses management within the experience environment | 779 | ||
| Managing digital technology at the customer interface | 783 | ||
| Managing the internet at the customer interface | 783 | ||
| Self-service kiosks | 784 | ||
| RFID at the customer interface | 785 | ||
| Part 6 Case study: Apple Stores | 790 | ||
| Part 7 Managing marketing implementation and control | 793 | ||
| Chapter 21 Implementing marketing management | 794 | ||
| Restructuring marketing practices | 796 | ||
| Internal marketing | 796 | ||
| Critique of internal marketing | 797 | ||
| Organising the marketing department | 799 | ||
| Relations with other departments | 804 | ||
| Building a creative marketing organisation | 804 | ||
| Taking the creative approach | 805 | ||
| Building a creative culture | 807 | ||
| Creativity – a mystical gift for some or something for all? | 808 | ||
| Maintaining momentum | 808 | ||
| Marketing implementation | 809 | ||
| Leadership | 810 | ||
| Methodology and making room for creativity | 810 | ||
| Foster a creative marketing culture | 810 | ||
| Socially responsible marketing | 811 | ||
| Corporate social responsibility | 811 | ||
| Socially responsible business models | 815 | ||
| Cause-related marketing | 817 | ||
| Cause-marketing benefits and costs | 818 | ||
| Social marketing | 819 | ||
| Ethnic marketing | 821 | ||
| Green marketing | 821 | ||
| Digital and traditional marketing are inseparable | 825 | ||
| Reach and display | 825 | ||
| Marketing revisited | 826 | ||
| The marketing manager’s key tasks | 826 | ||
| Marketing morphs to greater focus on customer engagement, involvement and experience | 828 | ||
| Getting started | 829 | ||
| Chapter 22 Managing marketing metrics | 836 | ||
| The need for marketing metrics | 838 | ||
| What marketing metrics should do | 839 | ||
| The chain of marketing productivity | 840 | ||
| Measuring the past, the present or the future | 843 | ||
| Measuring marketing performance and productivity | 843 | ||
| Counting-based metrics | 843 | ||
| Accounting-based metrics | 844 | ||
| Outcome metrics | 845 | ||
| Corporate social responsibility | 858 | ||
| Marketing dashboards | 859 | ||
| Part 7 Case study: Unilever | 866 | ||
| Appendix: Apricot marketing plan and exercises | 868 | ||
| Glossary | 882 | ||
| Index | 901 |