BOOK
Marketing: Real People, Real Choices, Global Edition
Michael R. Solomon | Greg W. Marshall | Elnora W. Stuart
(2017)
Additional Information
Book Details
Abstract
For undergraduate Principles of Marketing courses.
Real people making real choices
Marketing: Real People, Real Choices is the only text to introduce marketing from the perspective of real people, who make real marketing decisions, at leading companies every day. Timely, relevant, and dynamic, this reader-friendly text shows students how marketing concepts are implemented, and what they really mean in the marketplace. The 9th Edition presents more information than ever on the core issues every marketer needs to know, including value, analytics and metrics, and ethical and sustainable marketing. And with new examples and assessments, the text helps students actively learn and retain chapter content, so they know what’s happening in the world of marketing today.
MyLabTM Marketing not included. Students, if MyLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyLab should only be purchased when required by an instructor. Instructors, contact your Pearson rep for more information.
MyLab Marketing is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Front Cover | Front Cover | ||
| Title Page | 3 | ||
| Copyright Page | 4 | ||
| Brief Contents | 6 | ||
| Contents | 7 | ||
| Preface | 13 | ||
| Part 1 Understand the Value Proposition | 26 | ||
| Chapter 1: Welcome to the World of Marketing: Create and Deliver Value .......... | 26 | ||
| Real People, Real Choices: Here’s my problem . . . | 27 | ||
| Marketing: What Is It? | 28 | ||
| “Marketing Is the Activity, Institutions, and Processes . . .” | 28 | ||
| “. . . for Creating, Communicating, Delivering, and Exchanging: The Marketing Mix . . .” | 29 | ||
| “ . . . Offerings . . .”: What Can We Market? | 31 | ||
| “ . . . Value for Customers . . .” | 33 | ||
| When Did Marketing Begin? The Evolution of a Concept | 35 | ||
| The Production Era | 36 | ||
| The Sales Era | 36 | ||
| The Relationship Era | 36 | ||
| The Triple-Bottom-Line Orientation | 37 | ||
| What’s Next in the Evolution of Marketing? | 38 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 39 | ||
| The value of Marketing and the Marketing of value | 40 | ||
| Value from the Customer’s Perspective | 40 | ||
| Value from the Seller’s Perspective | 40 | ||
| Value from Society’s Perspective | 46 | ||
| Marketing as a Process | 48 | ||
| Objective Summary • Key Terms • Apply | 49 | ||
| Chapter Questions and Activities | 51 | ||
| Marketing in Action Case: Real Choices at Coca-Cola | 52 | ||
| Chapter 2: Global, Ethical, and Sustainable Marketing ........................ | 54 | ||
| Real People, Real Choices: Here’s my problem . . . | 55 | ||
| Take a Bow: Marketing on the Global Stage | 56 | ||
| World Trade | 57 | ||
| Should We Go Global? | 58 | ||
| Consider Your Competitive Advantage | 58 | ||
| Understand International, Regional, and Country Global Trade Controls | 59 | ||
| Initiatives in International Cooperation and Regulation | 59 | ||
| Protected Trade: Quotas, Embargoes, and Tariffs | 60 | ||
| Economic Communities | 60 | ||
| Analyze the External Marketing Environment | 61 | ||
| The Economic Environment | 61 | ||
| The Competitive Environment | 65 | ||
| The Technological Environment | 67 | ||
| The Political and Legal Environment | 67 | ||
| The Sociocultural Environment | 70 | ||
| How “Global” Should a Global Marketing Strategy Be? | 72 | ||
| Company-Level Decisions: The Market Entry Strategy | 73 | ||
| Marketing Mix Strategies | 74 | ||
| Ethics is Job One in Marketing Planning | 77 | ||
| Ethical Philosophies | 77 | ||
| Codes of Business Ethics | 78 | ||
| Is Marketing Unethical? | 79 | ||
| When Is a Bribe Not a Bribe? Ethical Issues for Global Business | 80 | ||
| Sustainability: Marketers Do Well by Doing Good | 81 | ||
| Sustainability Is a Sensible Business Decision | 81 | ||
| Developing a Sustainable Marketing Mix | 81 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 82 | ||
| Sustainable Customer Behavior | 83 | ||
| Objective Summary • Key Terms • Apply | 84 | ||
| Chapter Questions and Activities | 86 | ||
| Marketing in Action Case: Real Choices at Ford | 88 | ||
| Chapter 3: Strategic Market Planning ..................................................... | 90 | ||
| Real People, Real Choices: Here’s my problem . . . | 91 | ||
| Business Planning: Compose the Big Picture | 92 | ||
| The Three Levels of Business Planning | 93 | ||
| Strategic Planning: Frame the Picture | 95 | ||
| Step 1: Define the Mission | 95 | ||
| Step 2: Evaluate the Internal and External Environment | 95 | ||
| Step 3: Set Organizational or SBU Objectives | 96 | ||
| Step 4: Establish the Business Portfolio | 97 | ||
| Step 5: Develop Growth Strategies | 99 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 101 | ||
| Market Planning: Develop and Execute Marketing Strategy | 101 | ||
| Step 1: Perform a Situation Analysis | 102 | ||
| Step 2: Set Marketing Objectives | 102 | ||
| Step 3: Develop Marketing Strategies: Target Markets and the Marketing Mix | 102 | ||
| Step 4: Implement and Control the Marketing Plan | 104 | ||
| Action Plans | 105 | ||
| Operational Planning: Day-to-Day Execution of Marketing Plans | 108 | ||
| Make Your Life Easier! Use the Market Planning Template | 108 | ||
| Objective Summary • Key Terms • Apply | 109 | ||
| Chapter Questions and Activities | 110 | ||
| Marketing in Action Case: Real Choices at Amazon | 112 | ||
| Supplement: Build a Marketing Plan | 114 | ||
| Part 2 Determine the Value Propositions Different Customers Want | 116 | ||
| Chapter 4: Market Research ....... | 116 | ||
| Real People, Real Choices: Here’s my problem . . . | 117 | ||
| Knowledge Is Power | 118 | ||
| The Marketing Information System | 119 | ||
| Customer Insights and Marketing | 124 | ||
| Steps in the Market Research Process | 124 | ||
| Step 1: Define the Research Problem | 125 | ||
| Step 2: Determine the Research Design | 126 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 129 | ||
| Step 3: Choose the Method to Collect Primary Data | 130 | ||
| Step 4: Design the Sample | 138 | ||
| Step 5: Collect the Data | 140 | ||
| Step 6: Analyze and Interpret the Data | 141 | ||
| Step 7: Prepare the Research Report | 141 | ||
| Objective Summary • Key Terms • Apply | 142 | ||
| Chapter Questions and Activities | 143 | ||
| Marketing in Action Case: Real Choices at GetFeedback | 146 | ||
| Chapter 5: Marketing Analytics: Welcome to the Era of Big Data! .............. | 148 | ||
| Real People, Real Choices: Here’s my problem . . . | 149 | ||
| Customer Relationship Management (CRM): A Key Decision Tool for Marketers | 150 | ||
| Customer-Related Metrics | 153 | ||
| Big Data: Terabytes Rule | 155 | ||
| Big Data Creation, Sources, and Usage | 157 | ||
| Data Mining | 160 | ||
| Primary Data Types For Data Mining | 161 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 161 | ||
| Data Mining: Applications for Marketers | 163 | ||
| Data Scientists: Transforming Big Data into Winning Information | 164 | ||
| Marketing Analytics | 165 | ||
| Connect Digital Marketing Channels to Marketing Analytics | 165 | ||
| Make Marketing Accountable: Determine the Value of Digital Marketing Investments across Channels | 170 | ||
| Marketing Accountability within Nondigital Marketing Channels | 172 | ||
| Predictive Analytics | 173 | ||
| Metrics for Marketing Control | 174 | ||
| Margin on Sales | 176 | ||
| Churn Rate | 176 | ||
| Objective Summary • Key Terms • Apply | 177 | ||
| Chapter Questions and Activities | 178 | ||
| Marketing in Action Case: Real Choices at novartis | 180 | ||
| Chapter 6: Understand Consumer and Business Markets .............................. | 182 | ||
| Real People, Real Choices: Here’s my problem . . . | 183 | ||
| The Consumer Decision-Making Process | 184 | ||
| Not All Decisions Are The Same | 185 | ||
| Step 1: Problem Recognition | 186 | ||
| Step 2: Information Search | 187 | ||
| Step 3: Evaluation of Alternatives | 188 | ||
| Step 4: Product Choice | 188 | ||
| Step 5: Postpurchase Evaluation | 189 | ||
| Internal Influences on Consumers’ Decisions | 190 | ||
| Perception | 190 | ||
| Motivation | 192 | ||
| Learning | 194 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 194 | ||
| Attitudes | 195 | ||
| Personality and the Self: Are You What You Buy? | 196 | ||
| Age | 196 | ||
| Lifestyle | 197 | ||
| Situational and Social Influences on Consumers’ Decisions | 198 | ||
| Situational Influences | 198 | ||
| Social Influences on Consumers’ Decisions | 199 | ||
| Business Markets: Buying and Selling When the Customer is Another Organization | 203 | ||
| Types of Business-to-Business Customers | 204 | ||
| Factors That Make a Difference in Business Markets | 206 | ||
| B2B Demand | 208 | ||
| Business Buying Situations and the Business Buying Decision Process | 210 | ||
| The Buyclass Framework | 210 | ||
| Professional Buyers and Buying Centers | 211 | ||
| The Business Buying Decision Process | 213 | ||
| B2B E-Commerce and Social Media | 216 | ||
| Objective Summary • Key Terms • Apply | 219 | ||
| Chapter Questions and Activities | 221 | ||
| Marketing in Action Case Real Choices at Airbus | 224 | ||
| Chapter 7: Segmentation, Target Marketing, and Positioning ..................... | 226 | ||
| Real People, Real Choices: Here’s my problem . . . | 227 | ||
| Target Marketing: Select and Enter a Market | 228 | ||
| Step 1: Segmentation | 229 | ||
| Segment Consumer Markets | 229 | ||
| Segment B2B Markets | 240 | ||
| Step 2: Targeting | 241 | ||
| Phases of Targeting | 241 | ||
| Step 3: Positioning | 245 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 245 | ||
| Steps in Positioning | 246 | ||
| Bring a Product to Life: Brand Personality | 248 | ||
| Chapter Questions and Activities | 251 | ||
| Objective Summary • Key Terms • Apply | 250 | ||
| Marketing in Action Case: Real Choices at Sprig | 254 | ||
| Part 3 Develop the Value Proposition for the Customer | 256 | ||
| Chapter 8: Product I: Innovation and New Product Development ...................... | 256 | ||
| Real People, Real Choices: Here’s my problem . . . | 257 | ||
| Build a Better Mousetrap—and Add Value | 258 | ||
| Layers of the Product Concept | 259 | ||
| How Marketers Classify Products | 261 | ||
| How Long Do Products Last? | 261 | ||
| How Do Consumers Buy Products? | 262 | ||
| How Do Businesses Buy Products? | 264 | ||
| “New and Improved!” The Process of Innovation | 265 | ||
| Types of Innovations | 266 | ||
| New Product Development | 268 | ||
| Phase 1: Idea Generation (Ideation) | 268 | ||
| Phase 2: Product Concept Development and Screening | 269 | ||
| Phase 3: Marketing Strategy Development | 269 | ||
| Phase 4: Business Analysis | 270 | ||
| Phase 5: Technical Development | 270 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 270 | ||
| Phase 6: Market Test | 271 | ||
| Phase 7: Commercialization | 272 | ||
| Adoption and Diffusion of New Products | 273 | ||
| Stages in Consumers’ Adoption of a New Product | 273 | ||
| Adopter Categories | 276 | ||
| Product Factors That Affect the Rate of Adoption | 278 | ||
| Objective Summary • Key Terms • Apply | 280 | ||
| Chapter Questions and Activities | 282 | ||
| Marketing in Action Case: Real Choices at Facebook | 284 | ||
| Chapter 9: Product II: Product Strategy, Branding, and Product Management ............................................ | 286 | ||
| Real People, Real Choices: Here’s my\rproblem | 287 | ||
| Product Planning: Develop Product Objectives and Product Strategy | 288 | ||
| Getting Product Objectives Right | 288 | ||
| Objectives and Strategies for Individual Products | 289 | ||
| Objectives and Strategies for Multiple Products | 290 | ||
| Product Mix Strategies | 292 | ||
| Quality as a Product Objective: TQM and Beyond | 292 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 293 | ||
| Marketing Throughout the Product Life Cycle | 295 | ||
| Introduction Stage | 295 | ||
| Growth Stage | 297 | ||
| Maturity Stage | 297 | ||
| Decline Stage | 298 | ||
| Branding and Packaging: Create Product Identity | 298 | ||
| What’s in a Name (or a Symbol)? | 298 | ||
| Why Brands Matter | 299 | ||
| Branding Strategies | 301 | ||
| Packages and Labels: Branding’s Little Helpers | 304 | ||
| Organize for effective Product Management | 308 | ||
| Manage Existing Products | 308 | ||
| Organize for New Product Development | 309 | ||
| Objective Summary • Key Terms • Apply | 309 | ||
| Chapter Questions and Activities | 311 | ||
| Marketing in Action Case Real Choices at Blue Diamond | 313 | ||
| Chapter 10: Price: What Is the Value Proposition Worth? ................................... | 314 | ||
| Real People, Real Choices: Here’s my\rproblem | 315 | ||
| “Yes, but What Does It Cost?” | 316 | ||
| What Is Price? | 316 | ||
| Costs, Demand, Revenue, and the Pricing Environment | 320 | ||
| Step 2: Estimate Demand | 320 | ||
| Step 3: Determine Costs | 324 | ||
| Step 4: Examine the Pricing Environment | 329 | ||
| Identify Strategies and Tactics to Price the Product | 332 | ||
| Step 5: Choose a Pricing Strategy | 332 | ||
| Pricing Strategies Based on Cost | 332 | ||
| Step 6: Develop Pricing Tactics | 336 | ||
| Pricing and Electronic Commerce | 339 | ||
| Dynamic Pricing Strategies | 340 | ||
| Internet Price Discrimination | 340 | ||
| Online Auctions | 340 | ||
| Freemium Pricing Strategies | 341 | ||
| Pricing Advantages for Online Shoppers | 341 | ||
| Psychological, Legal, and Ethical Aspects of Pricing | 341 | ||
| Psychological Issues in Setting Prices | 342 | ||
| Psychological Pricing Strategies | 343 | ||
| Legal and Ethical Considerations in B2C Pricing | 344 | ||
| Legal Issues in B2B Pricing | 345 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 347 | ||
| Objective Summary • Key Terms • Apply | 347 | ||
| Chapter Questions and Activities | 349 | ||
| Marketing in Action Case Real Choices at Disney | 352 | ||
| Part 4 Deliver and Communicate the Value Proposition | 364 | ||
| Chapter 11: Deliver the Goods: Determine the Distribution Strategy ............... | 364 | ||
| Real People, Real Choices: Here’s my problem . . . | 365 | ||
| Types of Distribution Channels and Wholesale Intermediaries | 366 | ||
| Functions of Distribution Channels | 366 | ||
| The Evolution of Distribution Functions | 368 | ||
| Types of Distribution Channels | 372 | ||
| Distribution Channels and the Marketing Mix | 376 | ||
| Ethics in the Distribution Channel | 377 | ||
| Develop a Channel Strategy | 378 | ||
| Step 1: Develop Distribution Objectives | 378 | ||
| Step 2: Evaluate Internal and External Environmental Influences | 378 | ||
| Step 3: Choose a Distribution Strategy | 379 | ||
| Step 4: Develop Distribution Tactics | 383 | ||
| Logistics and the Supply Chain | 384 | ||
| The Lowdown on Logistics | 385 | ||
| Place: Pulling It All Together through the Supply Chain | 389 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 391 | ||
| Objective Summary • Key Terms • Apply | 392 | ||
| Chapter Questions and Activities | 393 | ||
| Marketing in Action Case Real Choices at Target | 396 | ||
| Chapter 12: Deliver the Customer Experience: Goods and Services via Bricks and Clicks ..................................... | 398 | ||
| Real People, Real Choices: Here’s my problem . . . | 399 | ||
| Retailing, Twenty-First-Century Style | 400 | ||
| Retailing: A Mixed (Shopping) Bag | 400 | ||
| The Evolution of Retailing | 401 | ||
| The Evolution Continues: What’s “In Store” for the Future? | 402 | ||
| Ethical Problems in Retailing | 406 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 406 | ||
| Types of Brick-and-Mortar Retailers | 407 | ||
| Classify Retailers by What They Sell | 407 | ||
| Classify Retailers by Level of Service | 408 | ||
| Major Types of Retailers | 409 | ||
| E-Commerce and Other Types of Nonstore Retailers | 414 | ||
| B2C E-Commerce | 414 | ||
| Direct Selling | 418 | ||
| Automatic Vending | 419 | ||
| Retailing What Isn’t There: Services and Other Intangibles | 419 | ||
| Marketing What Isn’t There | 419 | ||
| Physical Elements of the Service Encounter: Servicescapes and Other Tangibles | 422 | ||
| How We Provide Quality Service | 422 | ||
| Strategic Issues When We Deliver Service Quality | 423 | ||
| Marketing People, Places, and Ideas | 424 | ||
| The Future of Services | 426 | ||
| Objective Summary • Key Terms • Apply | 428 | ||
| Chapter Questions and Activities | 429 | ||
| Marketing in Action Case: Real Choices at Alibaba | 432 | ||
| Chapter 13: Promotion I: Advertising and Sales Promotion ................................. | 434 | ||
| Real People, Real Choices: Here’s my problem . . . | 435 | ||
| Communication Models in a Digital World That is “Always On” | 436 | ||
| The Communication Model | 438 | ||
| The Traditional Promotion Mix | 440 | ||
| Mass Communication: The One-to-Many Model | 440 | ||
| Personal Communication: The One-to-One Model | 442 | ||
| Overview of Promotion Planning | 442 | ||
| Step 1: Identify the Target Audience(s) | 442 | ||
| Step 2: Establish the Communication Objectives | 442 | ||
| Step 3: Determine and Allocate the Marketing Communication Budget | 445 | ||
| Step 4: Design the Promotion Mix | 446 | ||
| Step 5: Evaluate the Effectiveness of the Communication Program | 447 | ||
| Multichannel Promotion Strategies | 447 | ||
| Advertising | 448 | ||
| Types of Advertising | 449 | ||
| Who Creates Advertising? | 450 | ||
| User-Generated Advertising Content | 451 | ||
| Ethical Issues in Advertising | 452 | ||
| Develop the Advertising Campaign | 453 | ||
| Where to Say It: Traditional Mass Media | 460 | ||
| Where to Say It: Branded Entertainment | 463 | ||
| Where to Say It: Support Media | 463 | ||
| Where to Say It: Digital Media | 464 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 466 | ||
| When and How Often to Say It: Media Scheduling | 467 | ||
| Sales Promotion | 469 | ||
| Sales Promotion Directed toward Consumers | 469 | ||
| Trade Sales Promotion: Targeting the B2B Customer | 472 | ||
| Objective Summary • Key Terms • Apply | 474 | ||
| Chapter Questions and Activities | 477 | ||
| Marketing in Action Case: Real Choices at Domino’s | 480 | ||
| Chapter 14: Promotion II: Social Media Marketing, Direct/Database Marketing, Personal Selling, and Public Relations ...... | 482 | ||
| Real People, Real Choices: Here’s my problem . . . | 483 | ||
| Social Media Marketing | 484 | ||
| Social Media | 485 | ||
| Social Networks | 485 | ||
| Mobile Apps and Location-Based Social Networks | 488 | ||
| The Internet of Things | 489 | ||
| Direct Marketing | 489 | ||
| Mail Order | 490 | ||
| Direct Mail | 490 | ||
| Telemarketing | 490 | ||
| Direct-Response Advertising | 491 | ||
| M-Commerce | 491 | ||
| Personal Selling: Adding the Personal Touch to the Promotion Mix | 492 | ||
| The Role of Personal Selling in the Marketing Mix | 492 | ||
| Technology and Personal Selling | 494 | ||
| Types of Sales Jobs | 496 | ||
| Two Approaches to Personal Selling | 497 | ||
| The Creative Selling Process | 498 | ||
| Public Relations | 501 | ||
| Plan a PR Campaign | 502 | ||
| Ripped from the Headlines: Ethical/Sustainable Decisions in the Real World | 504 | ||
| PR Tactics | 504 | ||
| Buzz Marketing | 507 | ||
| Evaluation of a PR Campaign | 509 | ||
| Objective Summary • Key Terms • Apply | 511 | ||
| Chapter Questions and Activities | 512 | ||
| Marketing in Action Case Real Choices at Burger King | 515 | ||
| Appendix A Marketing Plan: The S&S Smoothie Company ............................................................................. | 516 | ||
| Appendix B Your Future in a Marketing Career ......... | 529 | ||
| Notes | 540 | ||
| Glossary | 559 | ||
| Name Index | 577 | ||
| Subject Index | 583 | ||
| Back Cover | Back Cover |