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Marketing Management, 16th Edition

Name: Marketing Management, 16th Edition
ISBN: 9780135323199

by Philip T. Kotler, Kevin Lane Keller, Alexander Chernev

June 2021

Intermediate to advanced

608 pages

35h 33m

English

Pearson

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Marketing Management
Brief Contents
Contents
Preface
What’s New in the 16th Edition Solving Learning and Teaching Challenges
Acknowledgments
About the Authors
Marketing Management
Part 1 Fundamentals of Marketing Management
Chapter 1 Defining Marketing for the New Realities
Learning Objectives
The Scope of Marketing
What is Marketing?

What is Marketed?
The Marketing Exchange
The New Marketing Realities
The Four Major Market Forces Technology Globalization Physical Environment Social Responsibility
The Three Key Marketing Outcomes
New Consumer Capabilities New Company Capabilities New Competitive Environment
The Concept of Holistic Marketing
Relationship Marketing Integrated Marketing Internal Marketing Performance Marketing
The Role of Marketing in the Organization
Organizing and Managing the Marketing Department
Organizing the Marketing Department Functional Organization Geographic Organization Product or Brand Organization Market Organization Matrix Organization
Managing the Marketing Department
The Role of the CEO and CMO Relationships with Other Departments
Building a Customer-Oriented Organization
Summary
Chapter 2 Marketing Planning and Management
Learning Objectives
Corporate and Business Unit Planning and Management
Defining the Corporate Mission
Building the Corporate Culture
Defining Strategic Business Units
Allocating Resources Across Business Units
Developing Market Offerings
Developing the Marketing Strategy Identifying the Target Market Developing a Value Proposition
Designing the Marketing Tactics
The Seven Ts and the Four Ps
Creating a Market Value Map
Planning and Managing Market Offerings
The G-Stic Approach to Action Planning
Setting a Goal
Defining the Goal Focus Defining Performance Benchmarks
Developing the Strategy
Designing the Tactics
Identifying Controls
Evaluating Performance Monitoring the Environment
Developing a Marketing Plan
Modifying the Marketing Plan
Updating the Marketing Plan
Conducting a Marketing Audit
Summary
Part 2 Understanding the Market
Chapter 3 Analyzing Consumer Markets
Learning Objectives
The Model of Consumer Behavior
Consumer Characteristics
Cultural Factors
Social Factors
Reference Groups Family
Personal Factors
Personality and Self-Concept Values and Lifestyle
Consumer Psychology
Consumer Motivation Consumer Needs Consumer Motivation
Perception
Selective Attention Selective Distortion
Emotions
Memory
Memory Models Memory Processes
The Buying Decision Process
Problem Recognition
Information Search
Information Sources Search Dynamics
Evaluation of Alternatives
Beliefs and Attitudes Information Processing Expectancy-Value Model
Purchase Decision
Decision Heuristics The Level of Consumer Involvement Intervening Factors
Postpurchase Behavior
Summary
Chapter 4 Analyzing Business Markets
Learning Objectives
The Organizational Buying Process
Understanding Business Markets
Types of Buying Decisions
The Buying Center
The Composition of the Buying Center
The Role of the Buying Center in the Organization
Buying Center Dynamics
Selling to Buying Centers
Understanding the Buying Process
Problem Recognition
Need Description
Product Specification
Supplier Search
Proposal Solicitation
Supplier Selection
Contract Negotiation
Performance Review
Developing Effective Business Marketing Programs
Transitioning From Products to Solutions
Enhancing Services
Building Business-to-Business Brands
Overcoming Price Pressures
Managing Communication
Managing Business-to-Business Relationships
Understanding the Buyer–Supplier Relationship
Managing Corporate Trust, Credibility, and Reputation
Risks and Opportunism in Business Relationships
Managing Institutional Markets
Summary
Chapter 5 Conducting Marketing Research
Learning Objectives
The Scope of Marketing Research
Importance of Marketing Insights General Foods
Who Does Marketing Research?
The Marketing Research Process
Defining the Problem
Developing the Research Plan
Data Sources Research Approaches Observational Research Focus Group Research Survey Research Behavioral Research Research Instruments Questionnaires Qualitative Measures Measurement Devices
Collecting the Information
Sampling Plan Contact Methods Online In Person Mail and E-mail Telephone Data Mining
Analyzing the Information and Making the Decision
Measuring Market Demand
Key Concepts in Demand Measurement
Forecasting Market Demand
Measuring Marketing Productivity
Marketing Metrics
Marketing-Mix Modeling
Marketing Dashboards
Summary
Part 3 Developing a Viable Market Strategy
Chapter 6 Identifying Market Segments and Target Customers
Learning Objectives
Identifying Target Customers
The Logic of Targeting
Strategic and Tactical Targeting
Strategic Targeting
Target Compatibility
Target Attractiveness
Monetary Value Strategic Value
Tactical Targeting
Defining the Customer Profile
Aligning Customer Value and Customer Profile
Bringing Target Segments to Life with Personas
Single-Segment and Multi-Segment Targeting
Single-Segment Targeting
Targeting Multiple Segments
Segmenting Consumer Markets
Demographic Segmentation Age Stage in the Life Cycle Gender Income Race and Culture
Geographic Segmentation
Behavioral Segmentation
Psychographic Segmentation
Segmenting Business Markets
Summary
Chapter 7 Crafting a Customer Value Proposition and Positioning
Learning Objectives
Developing a Value Proposition and Positioning
Developing a Value Proposition
Developing a Positioning Strategy
Choosing a Frame of Reference
Identifying Potential Points of Difference and Points of Parity
Identifying Points of Difference
Identifying Points of Parity
Aligning the Frame of Reference, Points of Parity, and Points of Difference
Creating a Sustainable Competitive Advantage
Sustainable Competitive Advantage as a Marketing Concept
Strategies for Creating a Sustainable Competitive Advantage
Differentiate on an Existing Attribute Introduce a New Attribute Build a Strong Brand
Communicating the Offering’s Positioning
Crafting a Positioning Statement
Communicating Category Membership
Communicating Conflicting Benefits
Positioning as Storytelling
Summary
Part 4 Designing Value
Chapter 8 Designing and Managing Products
Learning Objectives
Product Differentiation
Product Design
Power of Design
Approaches to Design
Product Portfolios and Product Lines
Product Portfolio Design
Product Line Analysis
Product Line Length
Line Stretching Down-Market Stretch Up-Market Stretch Two-Way Stretch Line Filling
Managing Packaging and Labeling
Packaging
Labeling
Managing Guarantees and Warranties
Summary
Chapter 9 Designing and Managing Services
Learning Objectives
The Nature of Services
The Service Aspect of an Offering
Distinctive Characteristics of Services
Intangibility Inseparability Variability Perishability
The New Services Realities
Increasing Role of Technology
Customer Empowerment
Customer Coproduction
Satisfying Employees as Well as Customers
Achieving Service Excellence
Best Practices of Top Service Companies Customer-Centricity Service Quality Catering to High-Value Customers Managing Customer Complaints
Differentiating Services
Ease of Ordering Speed and Timing of Delivery Installation, Training, and Consulting Maintenance and Repair Returns
Innovation with Services
Managing Service Quality
Managing Customer Expectations
Managing Service Quality
Managing Self-Service
Managing Product–Service Bundles
Summary
Chapter 10 Building Strong Brands
Learning Objectives
How Does Branding Work?
The Essence of Branding
The Role of Brands
Brands’ Role for Consumers Brands’ Role for Firms
Brand Equity and Brand Power
Brand Equity Measuring Brand Equity Brand Power Measuring Brand Power
Designing the Brand
Defining the Brand Mantra
Choosing Brand Elements
Choosing Secondary Associations
Brand Hierarchy
Managing Brand Portfolios
Cobranding
The Essence of Cobranding Ingredient Branding
Brand Dynamics
Brand Repositioning
Brand Extensions
When to Extend a Brand? Advantages of Brand Extensions Disadvantages of Brand Extensions
Managing a Brand Crisis
Luxury Branding
Characteristics of Luxury Brands
Managing Luxury Brands
Summary
Chapter 11 Managing Pricing and Sales Promotions
Learning Objectives
Understanding Pricing
Consumer Psychology and Pricing
Setting the Price
Defining the Pricing Objective
Determining Demand
Estimating Costs
Fixed, Variable, and Total Costs Experience Curve Effects
Analyzing Competitors’ Prices
Selecting a Pricing Method
Markup Pricing Target-Rate-of-Return Pricing Economic-Value-to-Customer Pricing Competitive Pricing Auction Pricing
Setting the Final Price
Product-Mix Pricing
Initiating and Responding to Price Changes
Initiating Price Cuts
Initiating Price Increases
Responding to Competitors’ Price Changes
Managing Incentives
Incentives as a Marketing Device
Major Incentive Decisions
Establishing the Objectives of Incentives Defining the Size and Approach for Incentives Selecting Consumer Incentives Selecting Trade Incentives Selecting Sales Force Incentives
Summary
Part 5 Communicating Value
Chapter 12 Managing Marketing Communications
Learning Objectives
The Role of Marketing Communication
The Communication Process Macromodel of the Communication Process Micromodel of Marketing Communication
Developing an Effective Communication Program
Setting the Communication Objectives
Defining the Focus of Company Communications
Setting the Communication Benchmarks
Determining the Communication Budget
Identifying the Target Audience and Crafting the Communication Message
Identifying the Target Audience
Crafting the Communication Message
Deciding on the Communication Media
Defining the Communication Media Mix
Developing a Media Plan
Determining the Media Reach, Frequency, and Impact Selecting Media Timing and Allocation
Developing the Creative Approach
Determining the Message Appeal Informational Appeals Transformational Appeals
Selecting the Message Source
Developing the Creative Execution
Measuring Communication Effectiveness
Summary
Chapter 13 Designing an Integrated Marketing Campaign in the Digital Age
Learning Objectives
Managing Integrated Marketing Communications
Advertising
Television Advertising
Print Advertising
Radio Advertising
Online Advertising
Place Advertising
Billboards Public Spaces Product Placement Point of Purchase
Online Communication
Company Website
Driving Online Traffic
Social Media
The Growth of Social Media
Social Media Platforms
Online Communities and Forums Blogs Social Networks Customer Reviews
Mobile Communication
Events and Experiences
Managing Events
Creating Experiences
Word of Mouth
Publicity and Public Relations
Publicity
Public Relations
Packaging
Summary
Chapter 14 Personal Selling and Direct Marketing
Learning Objectives
Personal Selling
Personal Selling as a Process Prospecting and Qualifying Pre-approach Presentation and Demonstration Persuasion Closing Servicing
Managing the Sale
Designing the Sales Force
Sales Force Objectives
Sales Force Strategy
Sales Force Structure
Sales Force Size
Sales Force Compensation
Managing the Sales Force
Recruiting the Sales Force
Training and Supervising the Sales Force
Managing Sales Force Productivity
Motivating the Sales Force
Evaluating the Sales Force
Direct Marketing
Direct Marketing Channels Direct Mail Catalog Marketing Telemarketing Infomercials
The Future of Direct Marketing
Summary
Part 6 Delivering Value
Chapter 15 Designing and Managing Distribution Channels
Learning Objectives
The Role of Distribution Channels
Distribution Channel Functions
Channel Levels
Multichannel Distribution
Channel-Management Decisions
Establishing Channel Objectives
Selecting Channel Members
Identifying Major Channel Alternatives Franchising
Motivating Channel Members
Channel Power Channel Partnerships
Evaluating Channel Members
Channel Cooperation and Conflict
The Nature of Channel Conflicts Types of Channel Conflict Causes of Channel Conflict
Managing Channel Conflict
Managing Market Logistics
Market-Logistics Objectives
Market-Logistics Decisions
Order Processing Warehousing Inventory Transportation
Summary
Chapter 16 Managing Retailing
Learning Objectives
The Modern Retail Environment
Key Retailing Decisions
Target Market
Product Assortment and Procurement
Services
Store Atmosphere
Pricing
Incentives
Communications
Managing Omnichannel Retailing
Brick-and-Mortar Retailers
Online Retailers
Omnichannel Retailing
Managing Private Labels
Wholesaling
The Business of Wholesaling
Key Functions Performed by Wholesalers
Summary
Part 7 Managing Growth
Chapter 17 Driving Growth in Competitive Markets
Learning Objectives
Assessing Growth Opportunities
Product–Market Growth Strategies
Growth Through Mergers and Acquisitions
Growth Through Innovation and Imitation
Gaining Market Position
Growing Sales to Current Customers
Creating New Markets
Gaining a Pioneering Advantage Identifying Niche Markets
Expanding Existing Markets
Defending Market Position
Product Life Cycle Marketing Strategies
The Concept of a Product Life Cycle
Introduction Stage
Growth Stage
Maturity Stage
Market Growth Product Modification
Decline Stage
Harvesting and Divesting Eliminating Weak Products
Alternative Product Life Cycle Patterns
Summary
Chapter 18 Developing New Market Offerings
Learning Objectives
The Process of Developing New Market Offerings
The Innovation Imperative
Managing Innovation
The Stage-Gate Approach to Developing New Offerings
The Stage-Gate Approach to Developing New Offerings: An Illustration
Idea Generation and Validation Concept Development and Validation Business-Model Design and Validation Offering Implementation and Market Testing Commercial Deployment
Idea Generation
Generating Viable Ideas
Idea Validation
Market Research Tools for Idea Generation and Validation
Concept Development
Prototyping
Concept Validation
Business-Model Design
Designing The Business Model
Business-Model Validation
Offering Implementation
Developing the Core Resources
Developing the Market Offering
Commercial Deployment
Selective Market Deployment
Market Expansion
Summary
Chapter 19 Building Customer Loyalty
Learning Objectives
Managing Customer Acquisition and Retention
The Customer Acquisition Funnel
Balancing Customer Acquisition and Customer Retention
Managing Customer Satisfaction and Loyalty
Understanding Customer Satisfaction
Product and Service Quality as a Driver of Customer Satisfaction
Measuring Customer Satisfaction
Building Customer Loyalty
Interact Closely with Customers Develop Loyalty Programs Build Brand Communities
Managing Customer Relationships
Customization
Customer Empowerment
Managing Customer Word of Mouth
Dealing with Customer Complaints
Managing Customer Lifetime Value
The Concept of Customer Lifetime Value
Customer Lifetime Value and Brand Equity
Building Customer Lifetime Value
Creating Customer Loyalty by Building Trust
Measuring Customer Lifetime Value
Summary
Chapter 20 Tapping into Global Markets
Learning Objectives
Deciding Whether to Go Abroad
Deciding Which Markets to Enter
Determining How Many Markets to Enter
Evaluating Potential Markets
Deciding How to Enter the Market
Indirect and Direct Export
Licensing
Joint Ventures
Direct Investment
Deciding on the Global Marketing Program
Global Product Strategies Straight Extension Product Adaptation Product Invention Dealing with Counterfeit Products
Global Brand Strategies
Brand Adaptation Country-of-Origin Effects
Global Pricing Strategies
Global Communication Strategies
Global Distribution Strategies
Summary
Chapter 21 Socially Responsible Marketing
Learning Objectives
The Role of Social Responsibility in Marketing Management
Community-Based Corporate Social Responsibility
Corporate Social Responsibility in the Workplace
Corporate Philanthropy
Serving Low-Income Communities
Cause Marketing
Social Marketing
Sustainability-Focused Corporate Social Responsibility
Balancing Social Responsibility and Corporate Profitability
Developing Ethical Marketing Communications
Managing Customer Privacy
Summary
Endnotes
Glossary
Name Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
R
S
T
U
V
W
Y
Z
Company, Brand, and Organization
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
Subject Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
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Y
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Content preview from Marketing Management, 16th Edition

Single-Segment and Multi-Segment Targeting

The discussion so far has focused on a scenario in which a firm identifies and targets a single customer segment. Single-segment marketing, however, is the exception rather than the rule. Most offerings exist as part of a product line, with different offerings targeting different customer segments. Single-segment and multi-segment targeting, as well as the key principles underlying the decision to target multiple segments, are discussed in the following sections.

Single-Segment Targeting

With single-segment concentration, the firm markets to only one particular segment. Porsche concentrates on the sports car enthusiast and Volkswagen on the small-car market; its foray into the large-car market with ...

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ISBN: 9780135323199

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Marketing Management, 16th Edition

by Philip T. Kotler, Kevin Lane Keller, Alexander Chernev

Single-Segment and Multi-Segment Targeting

Single-Segment Targeting

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