Marketing 97/98

, by Richardson, John E.

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ISBN: 9780697373168 | 0697373169
Cover: Paperback
Copyright: 1/1/1997

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Supplemental Materials

To the Reader

Topic Guide

(3)

Industry/Company Guide

(2)

UNIT 1 Marketing in the 1900s and Beyond Fourteen selections examine the current and future status of marketing, the marketing concept, service marketing, and marketing ethics.

Overview

(2)

A. CHANGING PERSPECTIVES

(22)

1. The Future of Marketing: What Every Marketer Should Know about Being Online In a speech to the World Federation of Advertisers, Bob Wehling tells how recent media research shows ways that the Internet can be positioned as a significant strategic influence in the future of marketing

(4)

Bob Wehling, Vital Speeches of the Day, January 1, 1996.

2. The New Gold Rush? Catherine Romano says that companies are rushing onto the Internet at amazing speeds-many just to keep up with the competition and many with great expectations that they will hit financial pay dirt.

(6)

Catherine Romano, Management Review, November 1995.

3. The New Marketplace, Some consumers are bypassing traditional delivery channels in their search for quality, savings, convenience, and personal fit in a variety of products and services, say Edith Weiner and Arnold Brown. Today, consumers can easil easily make their purchases from a mail-order catalog, a direct-mail offer, a television shopping service, or a computer shopping database.

(5)

Edith Weiner and Arnold Brown, The Futurist, May/June 1995.

4. Sensitive Groups and Social Issues: Are You Marketing Correct? Bart Macchiette and Abhijit Roy explain the importance of having an ethically based, strategic framework for analyzing social issues and sensitive groups in the development of relationship marketing for the 1990s.

(7)

Bart Macchiette

Abhijit Roy, Journal of Consumer Marketing, Volume 11, Number 4, 1994.

B. THE MARKETING CONCEPT

(31)

5. Marketing Myopia (with Retrospective Commentary), According to Theodore Levitt, shortsightedness can make managers unable to recognize that there is no such thing as growth indus-try-as the histories of the railroad, movie, and oil industries show To survive, he says, a company must learn to apply the marketing concept: to think of itself not as producing goods or services, but as buying customers.

(12)

Theodore Levitt, Harvard Business Review, September/October 1975.

6. Happiness Isn't Everything, Shelly Reese, and Keep Them Coming Back, Shelly Reese discloses research results suggesting that there is not always a direct correlation between customer satisfaction, on the one hand, and customer loyalty and sales performance, on the other. Michael Lowenstein writes on measurements of customer loyalty.

(6)

Michael W. Lowenstein, Marketing Tools, May 1996.

7. How to Keep Your Customers, Ted Rakstis warns organizations of the danger of overlooking present customers while focusing on conquering new customers.

(4)

Ted J. Rakstis, Kiwanis, June/July 1996.

8. Leader of the Pack, Donna Fenn describes how Chris Zane has gained market sharegrowing his bicycle business 25 percent a year by implementing a plethora of creative customer-winning tactics.

(4)

Donna Fenn, Inc, February 1996.

9. Relationship Marketing: Positioning for the Future, Relationship marketing, say Jonathan R. Copulsky and Michael J. Wolf, combines elements of general advertising, sales promotion, Public relations, and direct marketing to create more effective a and more efficient ways of reaching consumers.

(5)

Jonathan R. Copulsky

Michael J. Wolf, Journal of Business Strategy, July/August 1990.

C. SERVICES AND SOCIAL MARKETING

(19)

10. Service Is Everybody's Business, On the front line of the new economy, states Ronald Henkoff, service-fast, imaginative, customized-is the ultimate strategic imperative.

(4)

Ronald Henkoff, Fortune, June 27, 1994.

11. `My Lawyer Sent Me Flowers,' Personal touches, extra efforts, and thoughtfulness by lawyers toward their clients can send the message "I care" and lead to client satisfaction and loyalty, as reported by attorney Di Mari Ricker.

(2)

Di Mari Ricker, ABA Journal, April 1996.

12. Learning from Customer Defections Frederick Reichheld, Coauthor of The Loyalty Effect, points out in this article adapted from his book that a climbing defection rate is often a good predictor of a diminishing flow of cash from a company's

(13)

Frederick F. Reichheld, Harvard Business Review, March/April 1996.

D. MARKETING ETHICS AND SOCIAL RESPONSIBILITY

(8)

13. Marketing and Ethics, John E. Richardson briefly highlights some key ethical areas that marketing needs to scrutinize: promotion, marketing research, product development, planned obsolescence, and pricing.

(2)

John E. Richardson, Ready Reference: Ethics, May 1994

14. The New Hucksterism, Advertising, which was once clearly labeled, is now being subtly woven into the culture, as this report shows. Stealth pitches are frequently embedded in movies, TV shows, or made into their own tiny entertainments, complete with fictional histories.

(6)

Business Week, July 1, 1996.

UNIT 2 Research, Markets, and Consumer Behavior Eight selections provide an analysis of consumer demographics and lifestyles, the growth and maturation of markets, and the need for market research and planning.

Overview

(2)

A. MARKET RESEARCH

(12)

15. The Frontiers of Psychographics, In an effort to understand consumers, according to Rebecca Heath, marketers are fueling a resurgence of qualitative research and retooling it for the twenty-first century.

(5)

Rebecca Piirto Heath, American Demographic, July 1996.

16. Database Marketing: A Potent New Tool for Selling, This essay explains why a growing number of marketers are investing millions of dollars to build databases that enable them to figure out who their customers are and what it takes to secure their loyalty.

(7)

Business Week, September 5, 1994.

B. MARKETS AND DEMOGRAPHICS

102

(18)

17. A Beginner's Guide to Demographics, Who are your customers? Where do they live? How many are there? Berna Miller discusses these and similar questions to sharpen your marketing strategy.

102

(8)

Berna Miller, Marketing Tools, October 1995.

18. The Generations Quiz, Susan Mitchell poses some important questions to help readers ascertain their level of understanding about the difference between age and generation.

110

(2)

Susan Mitchell, American Demographics, February 1996.

19. Making Generational Marketing Come of Age, Faye Rice analyzes generational marketing as a venerable strategy that has the potential of reaching consumers where they live--demographically, socially, and psychologically--thus rendering mass marketin passe.

112

(3)

Faye Rice, Fortune, June 26, 1995.

20. Scouting for Souls, One-third of Americans are religious, and fewer than 40 percent attend churches. That's why churches, according to Marc Spiegler, are using demographics and other marketing information to find new souls and to keep congregation happy.

115

(5)

Marc Spiegler, American Demographics, March 1996.

C. CONSUMER BEHAVIOR

120

(16)

21. Consumer Behavior: Yesterday, Today, and Tomorrow, The individual-oriented consumer behavior of the past will change to a more collective style in the 1990s, prognosticates Judith Lynne Zaichkowsky.

120

(8)

Judith Lynne Zaichkowsky, Business Horizons, May/June 1991.

22. Penetrating Purchaser Personalities, Discerning what drives customers' behavior can help marketers tailor service strategies, write Richard Lancioni and Terence A. Oliva.

128

(8)

Richard Lancioni and Terence A. Oliva, Marketing Management, Spring 1995.

UNIT 3 Developing and Implementing Marketing Strategies Sixteen selections analyze factors that affect the development and implementation of marketing strategies.

Overview

136

(2)

23. The Very Model of a Modern Marketing Plan, Shelly Reese tells how companies are rewriting their strategies to reflect customer input and internal coordination.

138

(10)

Shelly Reese, Marketing Tools, January/February 1996.

24. Win the Market, In an excerpt from his book, Grow Your Business with Desktop Marketing, Steve Morgenstern provides some helpful guidance in developing a good marketing plan.

148

(4)

Steve Morgenstern, Home Office Computing, June 1996.

A. PRODUCT

152

(16)

25. What's in a Brand? To business, brands mean market share. The importance of a company's nurturing the significant link between consumers and brands is discussed here.

152

(5)

Diane Crispell

Kathleen Brandenburg, American Demographics, May 1993.

26. How to Tell Fads from Trends, Martin Letscher examines why understanding the differences between fads and trends, and capitalizing on these differences, can result in superior marketing strategies, give companies a powerful competitive edge, and result in different approaches to new products.

157

(5)

Martin G. Letscher, American Demographics, December 1994.

27. Flops, From the Edsel to New Coke, new-product failures have had a long, inglorious history. Presented here are the anatomies of some recent fiascoes and a six-step program for better launchings.

162

(6)

Business Week, August 16, 1993.

B. PRICING

168

(22)

28. Ten Timeless Truths about Pricing, Allan J. Magrath suggests several principles in the area of pricing that marketers need to be cognizant of and for which they need to develop skills.

168

(8)

Allan J. Magrath, Journal of Consumer Marketing, Winter 1991.

29. Stuck! How Companies Cope When They Can't Raise Prices, A growing number of corporations are recognizing that ferocious pricing pressures mean that they have to rethink virtually every aspect of how they do business. Some are cutting promotions to retain everyday low prices; others are offering no-frills or better-value products.

176

(5)

Business Week, November 15, 1993.

30. More to Offer than Price, Jan Norman gives some practical ideas for small business that feel they are unable to compete with larger firms when it comes to discounting services or offering the lowest prices.

181

(3)

Jan Norman, The Orange County Register, March 18, 1996.

31. Your Secret Weapon, From his book Price Wars: How to Win the Battle for Your Customer, Thomas Winninger provides some sage advice on tenable approaches to price planning and strategy.

184

(6)

Thomas J. Winninger, Success, January/February 1995.

C. DISTRIBUTION

190

(14)

32. Retailers with a Future, Retail failure rates are high, with no relief expected. Yet, according to Leonard Berry, despite hypercompetition in many markets, some retailers are performing well. What they have in common is compelling value for customers, created through a bundle of benefits that outweigh shopping burdens.

190

(7)

Leonard L. Berry, Marketing Management, Spring 1996.

33. Selling the Superstores, Susan Greco provides an insider look at Koss Corporation's campaign to get on the shelves of giant retail chains.

197

(5)

Susan Greco, Inc, July 1995.

34. Target "Micromarkets" Its Way to Success; No 2 Stores Are Alike, Gregory Patterson shows why Target is a master at what retailers call "micromarketing"-a consumer-driven, technology-packed strategy to tailor merchandise in each store to the preferences of its local patrons.

202

(2)

Gregory A. Patterson, Wall Street Journal, May 31, 1995.

D. PROMOTION

204

(14)

35. The Death and Rebirth of the Salesman, Today's demanding consumers are running out of patience with mere product pushers, whether at the new-car showroom, on the floor of a department store, or in the corporate conference room.

204

(4)

Jaclyn Fierman, Fortune, July 25, 1994.

36. Talk of the Town, Jill Griffin discusses ways--via word of mouth--to turn loyal customers into advocates for your products or services.

208

(3)

Jill Griffin, Marketing Tools, October 1995.

37. The `Net Effect, At a time when business is questioning its commitment to the Internet, the author shows four companies that have successfully woven their marketing campaigns into the World Wide Web.

211

(5)

Tom Dellecave Jr., Sales & Marketing Technology, March 1996.

38. First, Green Stamps. Now, Coupons? Zachary Schiller reveals why Procter & Gamble is testing the idea of clipping coupons out of its marketing arsenal.

216

(2)

Business Week, April 22, 1996.

UNIT 4 Global Marketing Four selections discuss the increasing globalization of markets, trends in world trade, and increasing foreign competition.

Overview

218

(2)

39. Beware the Pitfalls of Global Marketing, In global marketing, Kamran Kashani shows how shortcomings in a marketing strategy, such as inadequate research and poor follow-up, can fell a good product.

220

(7)

Kamran Kashani, Harvard Business Review, September/October 1989.

40. Isolationism in a Global Economy, Despite increased economic competition, Murray Weidenbaum says, American businesses and political thinking have not quite made the leap to truly embrace the global marketplace as anything more than today's

227

(4)

Murray Weidenbaum, Management Review, December 1995.

41. Hot Markets Overseas, Small companies are successfully selling their products and services in emerging economies abroad. Roberta Maynard tells how.

231

(2)

Roberta Maynard, Nation's Business, June 1995.

42. A Whole New World, Peter Krasilovsky writes that while the Internet can offer an easy means of extending a market outside the United States, there are some significant hurdles to overcome.

233

(3)

Peter Krasilovsky, Marketing Tools, May 1996.

Glossary

236

(5)

Index

241

(3)

Article Review Form

244

(1)

Article Rating Form

245

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Marketing 97/98

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