Marketing

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Table of Contents and Preface Title Page Copyright Information Dedication About the Authors Brief Contents Table of Contents What Is Marketing? Changes to the Fifth Canadian Edition Section one Assessing the Marketplace SECTION TWO Understanding the Marketplace SECTION THREE Targeting the Marketplace SECTION FOUR Value Creation SECTION FIVE Transacting Value SECTION SIX Value Delivery: Designing the Distribution Channel and Supply Chain SECTION SEVENValue Communication SECTION EIGHTMarketing in the Global Environment Features Inside Marketing, Fifth Canadian Edition Reinforcing learning Award-Winning Technology Application-Based Activities iSeeIt! Videos Writing Assignments TestBuilder Remote Proctoring & Browser-Locking Capabilities Instructor resources Connect SMARTBOOK® SUPPORT AT EVERY STEP Acknowledgments Chapter 1: Overview of Marketing Chapter 1 Introduction What Is Marketing? LO1Marketing Is About Satisfying Customer Needs and Wants Marketing Entails an Exchange LO2Marketing Requires Marketing Mix Decisions Marketing Can Be Performed by Both Individuals and Organizations Marketing Impacts Many Stakeholders LO3The Four Orientations of Marketing How Do Firms Become More Value Driven? Gathering and Sharing Information Balancing Benefits With Costs Building Relationships With Customers Connecting With Customers Using Social and Mobile Media Why Is Marketing Important? Marketing Expands Firms’ Global Presence Marketing Is Pervasive Across Marketing Channel Members Marketing Enriches Society Marketing Can Be Entrepreneurial Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study KIND BARS FOR A KINDER WORLD Chapter 2: Developing Marketing Strategies and a Marketing Plan Chapter 2 Introduction What Is a Marketing Strategy? Customer Excellence Operational Excellence Product Excellence Locational Excellence Multiple Sources of Advantage The Marketing Plan Step 1: Define the Business Mission and Objectives LO3 Step 2: Conduct a Situation Analysis LO4 Step 3: Identify and Evaluate Opportunities by Using STP (Segmentation, Targeting, and Positioning) LO5 Step 4: Implement Marketing Mix and Allocate Resources Step 5: Evaluate Performance by Using Marketing Metrics Strategic Planning Is Not Sequential Growth Strategies Market Penetration Market Development Product Development Diversification Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study The coffee wars Appendix 2A: Writing a Marketing Plan Appendix 2A: Writing a Marketing Plan Why Write a Marketing Plan?1 Marketing Plan Versus Business Plan Structure of a Marketing Plan Executive Summary Company Overview Objectives/Goals Situation Analysis STP Analysis Marketing Strategy Financial Projections Implementation Plan Evaluation and Control Metrics Appendix Information Sources Linguistic and Visual Suggestions PeopleAhead Marketing Plan Illustration Chapter 3: Analyzing the Marketing Environment Chapter 3 Introduction A Marketing Environment Analysis Framework Microenvironmental Factors Company Capabilities Competition Corporate Partners Macroenvironmental Factors Culture Demographics Technological Advances Economic Situation Political/Legal Environment LO3Social and Natural Trends Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study The Rise of the electric car Chapter 4: Consumer Behaviour Chapter 4 Introduction The Consumer Decision Process Step 1: Need Recognition LO2Step 2: Information Search Step 3: Alternative Evaluation Step 4: Purchase Decision Step 5: Postpurchase Factors Influencing Consumer Buying Decisions Psychological Factors Social Factors Situational Factors Involvement and Consumer Buying Decisions Extended Problem Solving Limited Problem Solving Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study The battle of the titans: amazon echo vs. google home Chapter 5: Business-to-Business Marketing Chapter 5 Introduction B2B Markets Manufacturers or Producers Resellers Institutions Government Key Challenges of Reaching B2B Clients LO2Differences Between B2B and B2C Markets The B2B Buying Process Stage 1: Need Recognition Stage 2: Product Specification Stage 3: RFP Process Stage 4: Proposal Analysis and Supplier Selection Stage 5: Order Specification (Purchase) Stage 6: Vendor Performance Assessment Using Metrics The Buying Centre Organizational Culture Building B2B Relationships Buying Situations Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Staples:THE BIG-BOX RETAILER THAT IS also A B2B POWERHOUSE Chapter 6: Segmentation, Targeting, and Positioning Chapter 6 Introduction The Segmentation–Targeting–Positioning Process Step 1: Establish Overall Strategy or Objectives LO1Step 2: Segmentation Bases LO2Step 3: Evaluate Segment Attractiveness LO3Step 4: Select Target Market LO4Step 5: Identify and Develop Positioning Strategy Positioning Methods Positioning by Using Perceptual Mapping Repositioning Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study lululemon Sees Men as an Opportunity for Growth Chapter 7: Marketing Research Chapter 7 Introduction The Marketing Research Process Step 1: Define the Research Problem and Objectives Step 2: Design the Research Plan Step 3: Collect Data Step 4: Analyze Data and Develop Insights Step 5: Determine the Action Plan Secondary Data Primary Data Collection Techniques Qualitative Research Methods Quantitative Research Methods The Ethics of Using Customer Information Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Selfies as Data: Relying on a New Form of Self-Reporting to Gauge Consumer Behaviour49 Appendix 7A: Using Secondary Data to Assess Customer Lifetime Value (CLV) Using Secondary Data to Assess Customer Lifetime Value (CLV) Chapter 8: Developing New Products Chapter 8 Introduction Why Do Firms Create New Products? Changing Customer Needs Market Saturation Managing Risk Through Diversity Fashion Cycles Improving Business Relationships Adoption of Innovation Innovators Early Adopters Early Majority Late Majority Laggards Using the Adoption Cycle How Firms Develop New Products Idea Generation Concept Testing Product Development Market Testing Product Launch Evaluation of Results The Product Life Cycle Introduction Stage Growth Stage Maturity Stage Decline Stage The Shape of the Product Life Cycle Curve Strategies Based on Product Life Cycle: Some Caveats Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study A TOY COMPANY FOR A NEW AGE: HOW MATTEL IS REINVENTING ITSELF FOR MODERN CONSUMERS Chapter 9: Product, Branding, and Packaging Decisions Chapter 9 Introduction Complexity of Products and Types of Products Complexity of Products LO2Types of Products Product Mix and Product Line Decisions Change Product Mix Breadth and Depth Branding LO4 Value of Branding LO5 Brand Equity Branding Strategies LO6 Brand Ownership Naming Brands and Product Lines Brand Extension Cobranding Brand Licensing Packaging Labelling Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study FROM COUNTERCULTURE TO THE RUNWAY: HOW DID BIRKENSTOCKS BECOME FASHIONABLE? Chapter 10: Services: The Intangible Product Chapter 10 Introduction Services Marketing Differs From Product Marketing Intangible Inseparable Production and Consumption Inconsistent Inventory Providing Great Service: The Gaps Model The Knowledge Gap: Knowing What Customers Want LO3 The Standards Gap: Setting Service Standards The Delivery Gap: Delivering Service Quality The Communication Gap: Communicating the Service Promise Service Quality and Customer Satisfaction and Loyalty Service Recovery Listening to the Customer Finding a Fair Solution Resolving Problems Quickly Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study HOW AI IS REVOLUTIONIZING CUSTOMER SERVICE Chapter 11: Pricing Concepts and Strategies: Establishing Value Chapter 11 Introduction The Importance of Pricing The Five Cs of Pricing Company Objectives Customers Costs Competition Channel Members Considerations for Setting Prices Pricing Methods Cost-Based Methods Competitor-Based Methods Value-Based Methods Pricing Strategies Everyday Low Pricing (EDLP) High/Low Pricing New Product Pricing Pricing Tactics Consumer Pricing Tactics Consumer Price Reductions Business-to-Business Pricing Tactics Legal and Ethical Aspects of Pricing Deceptive or Illegal Price Advertising Predatory Pricing Price Discrimination Price Fixing Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Planet Fitness pricing for success36 Chapter 12: Distribution Channels Chapter 12 Introduction The Importance of Distribution Distribution Channels, Supply Chain, and Logistics Designing Distribution Channels Channel Structure Push Versus Pull Distribution Strategies Distribution Intensity Distribution Channels Add Value Managing Distribution Channels Managing Supply Chains Through Strategic Relationships Logistics Management: Making Information Flow Data Warehouse Electronic Data Interchange Vendor-Managed Inventory Logistics Management: Making Merchandise Flow Distribution Centres Versus Direct Store Delivery The Distribution (or Fulfillment) Centre Inventory Management Through Just-in-Time Systems Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Zara Delivers Fast Fashion23 Chapter 13: Retailing and Omnichannel Marketing Chapter 13 Introduction Choosing Retail Partners Channel Structure Customer Expectations Channel Member Characteristics Identifying Types of Retailers Food Retailers General Merchandise Retailers Developing a Retail Strategy Product (Merchandise Assortment) Price Promotion Presentation (Store Design and Display) Personnel Place The Internet and Omnichannel Retailing Effective Omnichannel Retailing Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study ALDO,a Retailer with a Conscience and “Sole” Chapter 14: Integrated Marketing Communications Chapter 14 Introduction Communicating With Consumers The Communication Process How Consumers Perceive Communication Steps in Planning an IMC Campaign 1. Identify Target Audience 2. Set Objectives 3. Determine Budget LO3 4. Convey Message LO4 5. Evaluate and Select Media 6. Create Communication LO5 7. Assess Impact Using Marketing Metrics Planning, Implementing, and Evaluating IMC Programs — An Illustration of Google Advertising Integrated Marketing Communications Tools Advertising Personal Selling Sales Promotion Direct Marketing Public Relations Social and Mobile Media Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study tHe toyota supra — it’s back! Appendix 14A: Social and Mobile Media The 4E Framework for Social Media Excite the Customer Educate the Customer Experience the Product or Service Engage the Customer Categories of Social Media Social Network Sites Media-Sharing Sites Thought-Sharing Sites Understanding Mobile Applications App Pricing Models Apps Meet Seven Primary Needs Chapter 15: Advertising, Sales Promotions, and Personal Selling Chapter 15 Introduction Advertising The AIDA Model LO1 Advertising Objectives Regulatory and Ethical Issues in Advertising Sales Promotion Consumer Sales Promotions Trade Channel Sales Promotions Using Sales Promotion Tools Evaluating Sales Promotions by Using Marketing Metrics Personal Selling The Scope and Nature of Personal Selling The Value Added by Personal Selling The Personal Selling Process Step 1: Generate and Qualify Leads Step 2: Preapproachand the Use of CRM Systems Step 3: Sales Presentation and Overcoming Objections Step 4: Closing the Sale Step 5: Follow-Up Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Making MasterCard Priceless Chapter 16: Global Marketing Chapter 16 Introduction Assessing Global Markets Analyzing the Political Environment Analyzing the Economic Environment Using Metrics Analyzing Sociocultural Factors Analyzing Technology and Infrastructure Capabilities LO2 The Appeal of the BRIC Countries Choosing a Global Market Entry Strategy Exporting Franchising Strategic Alliance Joint Venture Direct Investment Choosing a Global Marketing Strategy Target Market: Segmentation, Targeting, and Positioning The Global Marketing Mix Ethical Issues in Global Marketing Environmental Concerns Global Labour Issues Impact on Host Country Culture Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study THE GLOBALIZATION OF apple Chapter 17: Ethics and Socially Responsible Marketing Chapter 17 Introduction The Scope of Marketing Ethics Ethical Issues Associated With Marketing Decisions Creating an Ethical Climate in the Workplace The Influence of Personal Ethics LO2 Corporate Social Responsibility Consumerism, Ethics, and Socially Responsible Practices LO4 A Framework for Ethical Decision Making Integrating Ethics Into Marketing Strategy Planning Phase Implementation Phase Control Phase Understanding Ethics by Using Scenarios Scenario 1: RetailerLacks Ethical Guidelines Scenario 2: Giving Credit Where Credit Isn’t Due Scenario 3: The Jeweller’s Tarnished Image Scenario 4: No Wonder It’s So Good Scenario 5: Bright Baby’s Bright Idea Learning Objectives Review Key Terms Concept Review Marketing Applications Marketing Digitally Chapter Case Study Daily Table Chapter Sources Chapter Sources Chapter 8 Chapter 9 Chapter 17 Accessibility Content: Text Alternatives for Images Exhibit 1.1: Core Aspects of Marketing Text Alternative (Chapter 1) Exhibit 1.2: Exchange: The Underpinning of Seller-Buyer Relationships Text Alternative (Chapter 1) Exhibit 1.3: Marketing Mix Decisions Text Alternative (Chapter 1) Exhibit 1.4 Text Alternative (Chapter 1) Exhibit 1.5 Text Alternative (Chapter 1) Exhibit 1.6: Supply Chain Text Alternative (Chapter 1) Exhibit 2.1: Macro Strategies for Developing Customer Value Text Alternative (Chapter 2) Exhibit 2.2: Developing a Marketing Plan Text Alternative (Chapter 2) Exhibit 2.7: Developing the Marketing Mix Text Alternative (Chapter 2) Exhibit 2.9: Boston Consulting Group Product Portfolio Analysis Text Alternative (Chapter 2) Exhibit 2.10: Market/Product and Services Strategies Text Alternative (Chapter 2) Pie chart: Individual Members Segments Text Alternative (Appendix 2A) Pie chart: Company Members Segments Text Alternative (Appendix 2A) Pie chart: Employment by Enterprise Type Text Alternative (Appendix 2A) Stacked bar graph: Recruitment Advertisement Industry Growth Text Alternative (Appendix 2A) Bar graph: Revenue and Net Income Projections Text Alternative (Appendix 2A) Exhibit 3.1: Understanding the Marketing Environment Text Alternative (Chapter 3) Exhibit 3.2: Understanding the Microenvironment Text Alternative (Chapter 3) Exhibit 3.3: The Macroenvironment Text Alternative (Chapter 3) Exhibit 4.1: The Consumer Decision Process Text Alternative (Chapter 4) Exhibit 4.3: Postpurchase Outcomes Text Alternative (Chapter 4) Exhibit 4.4: Factors Affecting the Consumer Decision Process Text Alternative (Chapter 4) Exhibit 4.5: Maslow’s Hierarchy of Needs Text Alternative (Chapter 4) Exhibit 4.6: Elaboration Likelihood Model Text Alternative (Chapter 4) Exhibit 5.1: B2B Markets Text Alternative (Chapter 5) Exhibit 5.4: B2B Buying Process Text Alternative (Chapter 5) Exhibit 5.6: The Buying Centre Roles Text Alternative (Chapter 5) Exhibit 5.7: Organizational Buying Culture Text Alternative (Chapter 5) Exhibit 5.8: Buying Situations Text Alternative (Chapter 5) Ethical & Societal Dilemma 5.1. Text Alternative (Chapter 5) Exhibit 6.1: The Segmentation-Targeting-Positioning Process Text Alternative (Chapter 6) Exhibit 6.7: Evaluation of Segment Attractiveness Text Alternative (Chapter 6) Exhibit 6.9: Targeting Strategies Text Alternative (Chapter 6) Exhibit 6.11A: Perceptual Maps Text Alternative (Chapter 6) Exhibit 6.11B: Perceptual Map Text Alternative (Chapter 6) Exhibit 6.11 C: Perceptual Maps Text Alternative (Chapter 6) Exhibit 6.11D: Perceptual Maps Text Alternative (Chapter 6) Exhibit 7.1: The Marketing Research Process Text Alternative (Chapter 7) Exhibit 7.4: Survey Results for McDonald’s and Wendy’s Text Alternative (Chapter 7) Exhibit 7.8: Qualitative Versus Quantitative Data Collection Text Alternative (Chapter 7) Heatmaps. Text Alternative (Chapter 7) Exhibit 7.10: Structured Versus Unstructured Response Text Alternative (Chapter 7) Exhibit 7.13. Text Alternative (Chapter 7) Exhibit 8.2: Consumer Adoption Cycle Text Alternative (Chapter 8) Exhibit 8.3: Factors Affecting Product Diffusion Speed Text Alternative (Chapter 8) Exhibit 8.4: The Product Development Process Text Alternative (Chapter 8) Exhibit 8.6A: Product Life Cycle Text Alternative (Chapter 8) Exhibit 8.8: Variations on the Product Life Cycle Curve Text Alternative (Chapter 8) Exhibit 9.1: Product Complexity Text Alternative (Chapter 9) Exhibit 9.3: Changes to a Product Mix Text Alternative (Chapter 9) Exhibit 9.5: Value of Branding Text Alternative (Chapter 9) Exhibit 9.7: Brand Overview Text Alternative (Chapter 9) Exhibit 9.8: Brand Ownership Strategies Text Alternative (Chapter 9) Exhibit 9.9. Text Alternative (Chapter 9) Exhibit 10.1. Text Alternative (Chapter 10) Exhibit 10.2: Core Differences between Services and Goods Text Alternative (Chapter 10) Exhibit 10.3: Gaps Model for Improving Service Text Alternative (Chapter 10) Exhibit 10.4. Text Alternative (Chapter 10) Exhibit 10.6: Customer's Evaluation of Service Quality Text Alternative (Chapter 10) Exhibit 10.7: Methods to Reduce Delivery Gaps Text Alternative (Chapter 10) Exhibit 11.1: Five C’s of Pricing Text Alternative (Chapter 11) Exhibit 11.3: Demand Curves for Teeth Whitening Kits Text Alternative (Chapter 11) Exhibit 11.4: Prestige Product Demand Curve Text Alternative (Chapter 11) Exhibit 11.5: Break-Even Analysis Text Alternative (Chapter 11) Exhibit 11.6. Text Alternative (Chapter 11) Exhibit 12.1: Distribution Components Text Alternative (Chapter 11) Exhibit 12.2A: Direct Supply Chain with No Retailer Text Alternative (Chapter 12) Exhibit 12.2 B: Indirect Supply Chain with Retailer Text Alternative (Chapter 12) Exhibit 12.4: Independent Versus Vertical Distribution Channel Text Alternative (Chapter 12) Exhibit 12.6: Direct and Indirect Distribution Text Alternative (Chapter 12) Exhibit 12.7: Multichannel Distribution Text Alternative (Chapter 12) Exhibit 12.8: Push Versus Pull Marketing Strategies Text Alternative (Chapter 12) Exhibit 12.9. Text Alternative (Chapter 12) Exhibit 12.10. Text Alternative (Chapter 12) Exhibit 12.11: Retail Data Warehouse Text Alternative (Chapter 12) Exhibit 13.1: Factors for Establishing a Relationship with Retailers Text Alternative (Chapter 13) Exhibit 13.3: The Wheel of Retailing Text Alternative (Chapter 13) Exhibit 13.5: Keeping It Personal: Marketing Success in a Mobile World Text Alternative (Chapter 13) Exhibit 14.1: The Communication Process Text Alternative (Chapter 14) Exhibit 14.2: Steps in Planning an IMC Campaign Text Alternative (Chapter 14) An advertisement. Text Alternative (Chapter 14) Exhibit 14.5: Advertising Spending as a Percentage of Sales for Illustrative Product Categories Text Alternative (Chapter 14) A photograph. Text Alternative (Chapter 14) Exhibit 14.9: Integrated Marketing Communications Tools Text Alternative (Chapter 14) Exhibit 14.10. Text Alternative (Chapter 14) Exhibit 15.1: The AIDA Model Text Alternative (Chapter 15) Exhibit 15.4: The Personal Selling Process Text Alternative (Chapter 15) Exhibit 15.5: Aligning the Personal Selling Process with the B2B buying Text Alternative (Chapter 15) Exhibit 16.1: The 4E Framework for Social Media Text Alternative (Chapter 16) Exhibit 16.2: Types of Social Media Text Alternative (Chapter 16) Exhibit 16.3: Paid, Owned, Earned Media Text Alternative (Chapter 16) Exhibit 16.4: Firm’s Use of Social and Mobile Tools from the 4E Lens Text Alternative (Chapter 16) A computer graphic of a global map. Text Alternative (Chapter 17) Exhibit 17.1. Text Alternative (Chapter 17) Exhibit 17.2: Government Actions Text Alternative (Chapter 17) Exhibit 17.4: Economic Analysis Text Alternative (Chapter 17) Exhibit 17.5. Text Alternative (Chapter 17) Exhibit 17.6: Country Clusters Text Alternative (Chapter 17) Exhibit 17.7: Entry Strategies Text Alternative (Chapter 17) Sustainable marketing 17.2. Text Alternative (Chapter 17) Exhibit 18.3: Ethics Versus Social Responsibility Text Alternative (Chapter 18) Exhibit 18.5: Ethical Decision-Making Framework Text Alternative (Chapter 18)