Core Principles of Marketing

Core Principles of Marketing by Babu John Mariadoss is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.

COPYRIGHT

The textbook content was produced by University of Minnesota Libraries Publishing (licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License) and John Burnett (licensed under a Creative Commons Attribution 3.0 License) except for the following changes and additions, which are (c)2017 Babu John Mariadoss, and are licensed under a Creative Commons Attribution 4.0 International License.

Chapter 1: What is Marketing?

Section 1.1 Defining Marketing, Section 1.2 Who Does Marketing? and Section 1.3 Why Study Marketing? are edited versions of the chapter sections of the same titles appearing in ‘Chapter 1: What is Marketing?’ of the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition:  Created new title for Figure 1.1: Marketing activities; Created new title for Figure 1.2: Creating Offerings That Have Value – BMW versus CRV; Created new title for Figure 1.3: Creating Offerings That Have Value – Social media sites; Added learning objectives for sections 1.1, 1.2, and 1.3.

Chapter 2: Marketing in Global Markets

Section 2.1 Good Luck Getting Into China, Section 2.2 The International Marketing Plan, and Section 2.3 The International Marketing Environment are edited versions of the chapter ‘Chapter 2 Marketing in global markets’ from the textbook ‘Introducing Marketing, First Edition, 2011’ authored by John Burnett – this book was published under The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland.

The following changes were made to the most recent edition: Divided ‘Chapter 2: Marketing in Global Markets’ into three sections; Removed Case application Unilever’s global brand at end of Chapter 2; Added learning objectives for sections 2.1, 2.2, and 2.3.

Chapter 3: Strategic Planning

Section 3.1 The Value Proposition, Section 3.2 Components of the Strategic Planning Process, Section 3.3 Developing Organizational Objectives and Formulating Strategies, Section 3.4 Where Strategic Planning Occurs within Firms, and Section 3.5 Strategic Portfolio Planning Approaches are edited versions of the chapter sections of the same titles appearing in ‘Chapter 2: Strategic Planning’ of the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 3.1: Value proposition; Created new title for Figure 3.5: Substitute products; Created new title for Figure 3.6: The legal environment; Created new title for Figure 3.7: The technological environment; Created new title for Figure 3.9: Franchising; Created new title for Figure 3.12: Satisfying customers’ needs in worldwide markets; Created new title for Figure 3.13: Functional level decisions; Added learning objectives for sections 3.1, 3.2, 3.3, 3.4 and 3.5.

Chapter 4: Gathering and Using Information: Marketing Research and Market Intelligence

Section 4.1 ‘Marketing Information Systems’ is an edited version of the chapter section titled ‘Marketing Information Systems’, used from ‘Chapter 10: Gathering and Using Information: Marketing Research and Market Intelligence’ of the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 4.1: Data mining; Created new title for Figure 4.2: Analytics software; Created new title for Figure 4.3: Search engines (Removed description); Created new title for Figure 4.4: Sorting garbage; Added learning objectives for section 4.1.

Section 4.2 ‘Marketing Research: an aid to decision making’ is edited from ‘Chapter 3 Marketing research: an aid to decision making’ from the textbook ‘Introducing Marketing, First Edition, 2011’ authored by John Burnett – this book was published under The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland. No changes were made to the most recent edition (except adding learning objectives for section 4.2)

Section 4.3 ‘Steps in the Marketing Research Process’ is an edited version of the chapter section titled ‘Steps in the Marketing Research Process’, used from ‘Chapter 10: Gathering and Using Information: Marketing Research and Market Intelligence’ of the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 4.7: Secondary data; Created new title for Figure 4.9: Descriptive research; Created new title for Figure 4.10: Test Market; Created new title for Figure 4.11: Data collection; Added learning objectives for section 4.3.

Chapter 5: Understanding Consumer and Business Markets

Section 5.1 Factors That Influence Consumers’ Buying Behavior, Section 5.2 Low-Involvement Versus High-Involvement Buying Decisions and the Consumer’s Decision-Making Process, Section 5.3 The Characteristics of Business-to-Business (B2B) Markets, Section 5.4 Types of B2B Buyers, Section 5.5 Buying Centers, Section 5.6 Stages in the B2B Buying Process and B2B Buying Situations, and Section 5.7 Ethics in B2B Markets are edited versions of the chapter ‘Chapter 3 Understanding Consumer and Business Markets’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 5.1: Marketing to men; Created new title for Figure 5.2: Age and Stage of Life; Created new title for Figure 5.4: Sub-culture; Created new title for Figure 5.5: Luxury brands; Created new title for Figure 5.6: Involvement; Created new title for Figure 5.8: Product Evaluation; Created new title for Figure 5.9: Product disposal; Created new title for Figure 5.11: Producers; Created new title for Figure 5.12: Selling to the Government; Created new title for Figure 5.13: The F-22; Removed the last Created new title for Figure in “Types of B2B buyers”; Created new title for Figure 5.14: Gatekeepers?; Created new title for Figure 5.15: An Example of Product Specifications Developed for a B2B Purchase; Created new title for Figure 5.16: A Scorecard Used to Evaluate RFPs; Created new title for Figure 5.17: Code of Ethics; Added learning objectives for sections 5.1, 5.2, 5.3, 5.4, 5.5, 5.6, and 5.7.

Chapter 6: Market Segmenting, Targeting, and Positioning

Section 6.1 Targeted Marketing versus Mass Marketing, Section 6.2 How Markets Are Segmented, Section 6.3 Selecting Target Markets and Target-Market Strategies, and Section 6.4 Positioning and Repositioning Offerings are edited versions of the chapter ‘Chapter 5: Market Segmenting, Targeting, and Positioning’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 6.1: Mass marketing; Created new title for Figure 6.2: Targeted Marketing; Created new title for Figure 6.3: Market segmentation; Created new title for Figure 6.4: Multiple uses; Created new title for Figure 6.5: Segmentation variables; Created new title for Figure 6.6: Marital-status as segmentation; Created new title for Figure 6.7: Family life cycle segmentation; Created new title for Figure 6.8: Proximity marketing; Added learning objectives for sections 6.1, 6.2, 6.3 and 6.4.

Chapter 7: Developing and Managing Offerings

Section 7.1 Defining the “new” in a new product is an edited version of a section of the same title from the chapter ‘Chapter 7. Introducing and managing the product’ from the textbook ‘Introducing Marketing, First Edition, 2011’ authored by John Burnett – this book was published under The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland. No changes were made to the most recent edition, except adding learning objectives for section 7.1.

Section 7.2 The New Offering Development Process and Section 7.3 Managing New Products: The Product Life Cycle are edited versions of the chapter ‘Chapter 7: Developing and Managing Offerings’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 7.4: Idea generation; Created new title for Figure 7.6: Idea Screening; Created new title for Figure 7.7: Process feasibility; Removed Diet Coke Created new title for Figure; Created new title for Figure 7.9: The introductory stage; Created new title for Figure 7.10: The growth stage; Created new title for Figure 7.12: Modifying target markets; Removed Pepsi Figure; Created new title for Figure 7.13: New products in international Markets; Removed McDonalds in California figure; Created new title for Figure 7.14: Technical products; Added learning objectives for sections 7.2 and 7.3.

Chapter 8: Creating Offerings

Section 8.1 What Composes an Offering?, Section 8.2 Types of Consumer Offerings, Section 8.3 Types of Business-to-Business (B2B) Offerings, and Section 8.4 Branding, Labeling, and Packaging are edited versions of the chapter ‘Chapter 6: Creating Offerings’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 8.1: TCO; Created new title for Figure 8.2: Pure service; Created new title for Figure 8.3: Intangible services; Created new title for Figure 8.4: Intangible service components; Created new title for Figure 8.5: Service-Dominant Approach; Created new title for Figure 8.6: The core product; Created new title for Figure 8.7: Co-creation; Created new title for Figure 8.9: Convenience offerings; Created new title for Figure 8.10: Shopping offering; Created new title for Figure 8.11: Specialty offerings; Created new title for Figure 8.12: Raw Materials Offerings; Created new title for Figure 8.13: MRO offerings; Created new title for Figure 8.14: Packages as registered trademarks; Created new title for Figure 8.15: Secondary packaging; Created new title for Figure 8.16: Tertiary packaging; Added learning objectives for sections 8.1, 8.2, 8.3 and 8.4.

Chapter 9: Pricing the Product

Section 9.1 Pricing Perspectives, Section 9.2 Pricing objectives, and Section 9.3 Pricing approaches are edited versions of the chapter ‘9. Pricing the product’ from the textbook ‘Introducing Marketing, First Edition, 2011’ authored by John Burnett – this book was published under The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland.

The following changes were made to the most recent edition: Divided ‘Chapter 9. Pricing the product’’ into three sections; Removed United Techtronics Case; Added learning objectives for sections 9.1, 9.2 and 9.3.

Chapter 10: Channel concepts – distributing the product

Section 10.1 Role of Distribution Channels, Section 10.2 Channel institutions, and Section 10.3 Organizing the channel are edited versions of the chapter ‘10. Channel concepts: distributing the product’ from the textbook ‘Introducing Marketing, First Edition, 2011’ authored by John Burnett – this book was published under The Global Text Project, funded by the Jacobs Foundation, Zurich, Switzerland.

The following changes were made to the most recent edition: Divided ‘Chapter 10. Channel concepts: distributing the product’’ into three sections; Removed Created new title for Figure featuring Anderson ad.; Removed box titled ‘In Practice’ from wsj.com; Removed case application at the end of chapter; Added learning objectives for sections 10.1, 10.2 and 10.3.

Chapter 11: Integrated Marketing Communications and the Changing Media Landscape

Section 11.1 Integrated Marketing Communications (IMC), Section 11.2 Advertising and Direct Marketing, and Message Strategies, and Section 11.3 Sales Promotions are edited versions of the chapter ‘Chapter 11: Integrated Marketing Communications and the Changing Media Landscape’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Removed Video Clip :To Help Customers during a Weak Economy, FedEx Launched a New Campaign Called “Solutions that Matter”; Removed Review Questions; Created new title for Figure 11.1: Changing media; Created new title for Figure 11.2: Search engine marketing; Created new title for Figure 11.3: Out-of-home advertising; Created new title for Figure 11.4: Professional Selling; Created new title for Figure 11.7: Jingles; Created new title for Figure 11.8: Wienermobile; Created new title for Figure 11.9: The Pillsbury Doughboy; Created new title for Figure 11.10: Coupons; Removed Fanta Video; Created new title for Figure 11.11: Trade shows; Created new title for Figure 11.12: Conventions; Added learning objectives for sections 11.1, 11.2 and 11.3.

Chapter 12: Public Relations, Social Media, and Sponsorships

Section 12.1 Public Relations Activities and Tools and Section 12.2 Social Media are edited versions of the chapter ‘Chapter 12: Public Relations, Social Media, and Sponsorships’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Created new title for Figure 12.1: Sponsorships; Created new title for Figure 12.2: Sponsorships are expensive; Added learning objectives for sections 12.1 and 12.2.

Chapter 13: The Marketing Plan

Section 13.1 The Marketing Plan, Section 13.2 Functions of the Marketing Plan, Section 13.3 Forecasting, and Section 13.4 Ongoing Marketing Planning and Evaluation are edited versions of the chapter ‘Chapter 13: The Marketing Plan’ from the textbook ‘Principles of Marketing,’ authored by University of Minnesota Libraries Publishing edition, 2015 – this book was adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution.

The following changes were made to the most recent edition: Combined Sections ‘The Marketing Plan’ and ‘Marketing Planning Roles’ were combined into one section titled ‘Section 13.1 The Marketing Plan’; Created new title for Figure 13.1: Marketing plans at the division level;  Created new title for Figure 13.3: Convincing stakeholders;  Created new title for Figure 13.4: Customer segments; Created new title for Figure 13.5: The economic climate; Created new title for Figure 13.6: Service support; Created new title for Figure 13.9: Market dynamics; Created new title for Figure 13.10: Test markets; Added learning objectives for sections 13.1, 13.2, 13.3 and 13.4.

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