Principles of Marketing

second Edition

Principles of Marketing

by University of Minnesota Libraries Publishing

Principles of Marketing teaches the experience and process of actually doing marketing - not just the vocabulary. It carries five dominant themes throughout in order to expose students to marketing in today's environment: Service dominant logic, sustainability, ethics and social responsibility, global coverage, and metrics.

Principles of Marketing is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries

Publishing through the eLearning Support Initiative. Though the publisher has requested that they and the original author not receive attribution, this adapted edition reproduce sal loriginal text and section soft he book, except for publisher and author name attribution.

Conditions of Use and Copyright

Principles of Marketing is adapted from a work produced and distributed under a Creative Commons license (CC BY-NC-SA) in 2010 by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative.

This adaptation has reformatted the original text, and replaced some images and figures to make the resulting whole more shareable. This adaptation has not significantly altered or updated the original 2010 text. This work is made available under the terms of a Creative Commons Attribution-NonCommercial-ShareAlike license.

The author(s) of this volume are not affiliated in any manner with LiveCarta.com.

Table of Contents

Principles of Marketing

Publisher Information

About the Authors

Acknowledgments

Preface

Chapter One What is Marketing?

1.1 - Defining Marketing

1.2 - Who Does Marketing?

1.3 - Why Study Marketing?

1.4 - Themes and Organization of This Book

1.5 - Discussion Questions and Activities

Chapter Two Strategic Planning

2.1 - The Value Proposition

2.2 - Components of the Strategic Planning Process

2.3 - Developing Organizational Objectives and Formulating Strategies

2.4 - Where Strategic Planning Occurs within Firms

2.5 - Strategic Portfolio Planning Approaches

2.6 - Discussion Questions and Activities

Chapter Three Consumer Behavior: How People Make Buying Decisions

3.1 - Factors That Influence Consumers’ Buying Behavior

3.2 - Low-Involvement Versus High-Involvement Buying Decisions and the Consumer’s Decision-Making Process

3.3 - Discussion Questions and Activities

Chapter Four Business Buying Behavior

4.1 - The Characteristics of Business-to-Business (B2B) Markets

4.2 - Types of B2B Buyers

4.3 - Buying Centers

4.4 - Stages in the B2B Buying Process and B2B Buying Situations

4.5 - International B2B Markets and E-commerce

4.6 - Ethics in B2B Markets

4.7 - Discussion Questions and Activities

Chapter Five Market Segmenting, Targeting, and Positioning

5.1 - Targeted Marketing versus Mass Marketing

5.2 - How Markets Are Segmented

5.3 - Selecting Target Markets and Target-Market Strategies

5.4 - Positioning and Repositioning Offerings

5.5 - Discussion Questions and Activities

Chapter Six Creating Offerings

6.1 - What Composes an Offering?

6.2 - Types of Consumer Offerings

6.3 - Types of Business-to-Business (B2B) Offerings

6.4 - Branding, Labeling, and Packaging

6.5 - Managing the Offering

6.6 - Discussion Questions and Activities

Chapter Seven Developing and Managing Offerings

7.1 - The New Offering Development Process

7.2 - Managing New Products: The Product Life Cycle

7.3 - Discussion Questions and Activities

Chapter Eight Using Marketing Channels to Create Value for Customers

8.1 - Marketing Channels and Channel Partners

8.2 - Typical Marketing Channels

8.3 - Functions Performed by Channel Partners

8.4 - Marketing Channel Strategies

8.5 - Channel Dynamics

8.6 - Discussion Questions and Activities

Chapter Nine Using Supply Chains to Create Value for Customers

9.1 - Sourcing and Procurement

9.2 - Demand Planning and Inventory Control

9.3 - Warehousing and Transportation

9.4 - Track and Trace Systems and Reverse Logistics

9.5 - Discussion Questions and Activities

Chapter Ten Gathering and Using Information: Marketing Research and Market Intelligence

10.1 - Marketing Information Systems

10.2 - Steps in the Marketing Research Process

10.3 - Discussion Questions and Activities

Chapter Eleven Integrated Marketing Communications and the Changing Media Landscape

11.1 - Integrated Marketing Communications (IMC)

11.2 - The Promotion (Communication) Mix

11.3 - Factors Influencing the Promotion Mix, Communication Process, and Message Problems

11.4 - Advertising and Direct Marketing

11.5 - Message Strategies

11.6 - The Promotion Budget

11.7 - Sales Promotions

11.8 - Discussion Questions and Activities

Chapter Twelve Public Relations, Social Media, and Sponsorships

12.1 - Public Relations Activities and Tools

12.2 - Social Media

12.3 - Discussion Questions and Activities

Chapter Thirteen Professional Selling

13.1 - The Role Professional Salespeople Play

13.2 - Customer Relationships and Selling Strategies

13.3 - Sales Metrics (Measures)

13.4 - Ethics in Sales and Sales Management

13.5 - Integrating Sales and Marketing

13.6 - Outsourcing the Sales Function

13.7 - Discussion Questions and Activities

Chapter Fourteen Customer Satisfaction, Loyalty, and Empowerment

14.1 - Customer Communities

14.2 - Loyalty Management

14.3 - Customer Satisfaction

14.4 - Ethics, Laws, and Customer Empowerment

14.5 - Discussion Questions and Activities

Chapter Fifteen Price, the Only Revenue Generator

15.1 - The Pricing Framework and a Firm’s Pricing Objectives

15.2 - Factors That Affect Pricing Decisions

15.3 - Pricing Strategies

15.4 - Discussion Questions and Activities

Chapter Sixteen The Marketing Plan

16.1 - Marketing Planning Roles

16.2 - Functions of the Marketing Plan

16.3 - Forecasting

16.4 - Ongoing Marketing Planning and Evaluation

16.5 - Discussion Questions and Activities

Chapter Seventeen Please share your supplementary material!