The New Global Marketing Reality

Marketing practices have fundamentally changed over the past decade. This book documents the nature of these changes, examines their impact on marketers and marketing, explains the results of a major international study into the changing nature of contemporary marketing practices, assesses their implications for marketing and marketers and provides guidance for those who are implementing change processes to improve value creation capabilities.

Roger Palmer is with the Cranfield School of Management.

Richard Brookes is in the Department of Marketing, The University of Auckland.

List of figures

ix

List of tables

x

Acknowledgements

xi

Introduction

1

(1)

The Changing Nature of Marketing

1

(2)

Why Another Book on Marketing, Then?

3

(1)

Out Target Audience

4

(1)

How This Book was Put Together

5

(3)

Did You Feel the Earth Move?

8

(3)

Our Central Message

11

(2)

The Structure of the Book

13

(6)

Understanding Business Today

19

(26)

Chapter Objectives

19

(1)

The Pressure of Pressure

19

(2)

Uncovering Practical Theory

21

(7)

A Model of Contemporary Marketing Practices

28

(6)

The Dynamic Nature of Relationships

34

(11)

Explanations of Marketing: Evolving, Changing or Competing?

45

(26)

Chapter Objectives

45

(1)

The Evolution of Marketing

45

(5)

No New Customers

50

(1)

The Momentum for Relationship Marketing

51

(3)

A Synthesis of Relationship Marketing

54

(1)

The Nordic School of Services

54

(1)

The IMP Tradition

55

(2)

The Anglo-Australian Approach

57

(3)

Mid-Range Perspectives

60

(2)

Relationship Marketing in Practice

62

(3)

Researching Relationship Marketing

65

(1)

Relationship and Managerial Dimensions

66

(5)

The New Business Reality

71

(28)

Chapter Objectives

71

(1)

The Pressures to Grow

71

(2)

How the Goths Got to the Gates of the General Motors Empire

73

(26)

Growth and Value

99

(30)

Chapter Objectives

99

(1)

The Attraction of External Growth Strategies

100

(1)

The Hard Lesson of M&As

101

(2)

The Lesson of DaimlerChrysler

103

(2)

Honda: A Better Bet, and Sloan's Fourth Wave?

105

(1)

The Pressure to Deliver Value

106

(2)

Strategy and the Art of Creating Value

108

(12)

The New Marketing Reality

120

(2)

Creating Value in the Knowledge Economy

122

(2)

What Do Customers Now Want?

124

(5)

Finding and Creating Advantage

129

(26)

Chapter Introduction

129

(1)

The Strategy Debate

129

(1)

Structure, Conduct, Performance

130

(1)

Resources

131

(3)

Emergent Strategy and Game Theory

134

(3)

Marketing Advantage

137

(1)

The Consumer Franchise

137

(3)

The Customer Franchise

140

(5)

Network Efficiency

145

(3)

The Interaction of Power and Advantage

148

(7)

Organizational Transformation

155

(28)

Objectives

155

(1)

Creating the Future

155

(3)

The View From the Top

158

(2)

Inflection Points

160

(1)

Did Compaq Miss an Inflection Point?

161

(1)

Compaq's Strategy Comes Unstuck

162

(2)

Now, it's Hewlett-Packard's Time

164

(2)

Information Technologies

166

(1)

IT and Early Predictions of an Organizational Tranformation

167

(1)

Now, the Digital Revolution and the Internet as an Inflection Point

168

(4)

Organizing for the Internet

172

(1)

What Became of IBM?

173

(3)

The Impacts of IT-Enabled Interactivity on Marketing Practices

176

(2)

Does the Internet Really Change Everything?

178

(5)

Contemporary Marketing and the Five Changes Challenge

183

(28)

Objectives

183

(1)

All Companies Face Change

184

(1)

Change 1: Financial Accountability, Loyalty and Customer Value Management

185

(7)

Change 2: Increasing Emphasis on Service Aspects of All Products

192

(5)

Change 3: Organizational Transformation

197

(3)

Change 4: Retailer Power and Systemic Relationships

200

(4)

Change 5: Interactive Media and Mass Customization

204

(3)

Integrating the Five Changes

207

(4)

Pluralism in Marketing Practice

211

(26)

Chapter Introduction

211

(1)

Challenging the Paradigm

211

(2)

The Role of Research

213

(1)

The Contemporary Marketing Practice Study

214

(4)

Contemporary Marketing Practice Findings

218

(3)

International Comparisons

221

(2)

Pluralistic Marketing Practice

223

(5)

Marketing Practice and Business Sector

228

(2)

Buyer and Seller Interaction

230

(3)

Managerial Implications

233

(4)

The Future of Marketing

237

(26)

Objectives

237

(1)

IT and Predictions of Organizational Transformation

238

(1)

The Internet, IT-Enabled Interactivity and Organizational Transformation

239

(2)

Differing Views on the Extent of IT Impacts on Marketing Practices

241

(1)

The Internet and B2B Relationships

242

(2)

IT-Enabled Interactivity and CRM

244

(2)

Internal Relationship Marketing

246

(2)

IT and Internal Relationship Marketing

248

(1)

Managing Change Processes

249

(4)

The CMP Study of Managers' Perceptions of the Roles of IT

253

(5)

Has the Internet Really Changed Everything?

258

(1)

Managerial Implications

258

(3)

Internal Relationship Management and Change Management

261

(2)

References

263

(22)

Index

285

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The New Global Marketing Reality

Summary

Author Biography

Table of Contents

Supplemental Materials