Marketing Strategy

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ISBN: 9780324201406 | 0324201400
Cover: Paperback
Copyright: 4/6/2004

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Marketing Strategy is presented from a perspective that guides strategic marketing management in the social, economic, and technological arenas in which businesses function today. This text helps to develop a customer-oriented market strategy and market plan.

CHAPTER 1: Marketing in the New Economy

(21)

Introduction

(1)

The Challenges and Opportunities of Marketing in the New Economy

(1)

Basic Marketing Concepts

(7)

What Is a Market?

(1)

What Is Exchange?

(1)

What Is a Product?

(3)

Major Marketing Activities and Decisions

(7)

Strategic Planning

(1)

Research and Analysis

(1)

Developing Goals and Objectives

(1)

Developing and Maintaining Customer Relationships

(1)

Marketing Strategy Decisions

(1)

Market Segmentation and Target Marketing

(1)

Product Decisions

(1)

Pricing Decisions

(1)

Distribution and Supply Chain Decisions

(1)

Promotion Decisions

(1)

Implementation and Control

(1)

Social Responsibility and Ethics

(1)

Taking on the Challenges of Marketing Strategy

(2)

Lessons from Chapter 1

(1)

Questions for Discussion

(1)

Exercises

(1)

CHAPTER 2: Strategic Marketing Planning

(24)

Introduction

(1)

The Strategic Planning Process

(9)

Organizational Mission versus Organizational Vision

(5)

Corporate or Business-Unit Strategy

(1)

Functional Goals and Objectives

(1)

Functional Strategy

(1)

Implementation

(1)

Evaluation and Control

(1)

The Marketing Plan

(8)

Marketing Plan Structure

(5)

Using the Marketing Plan Structure

(1)

Purposes and Significance of the Marketing Plan

(1)

Organizational Aspects of the Marketing Plan

(2)

Strategic Planning in the Market-Oriented Organization

(2)

Moving Ahead

(1)

Lessons from Chapter 2

(2)

Questions for Discussion

(1)

Exercises

(1)

CHAPTER 3: Situation Analysis: Collecting and Analyzing Marketing Information

(27)

Introduction

(1)

Conducting a Situation Analysis

(2)

Analysis Alone Is Not the Solution

(1)

Data and Information Are Not the Same

(1)

The Benefits of Analysis Must Outweigh the Costs

(1)

Conducting a Situation Analysis Is a Challenging Exercise

(1)

The Internal Environment

(3)

Review of Current Objectives, Strategy, and Performance

(1)

Availability of Resources

(1)

Organizational Culture and Structure

(1)

The Customer Environment

(1)

Who Are Our Current and Potential Customers?

(4)

What Do Customers Do with Our Products?

(1)

Where Do Customers Purchase Our Products?

(1)

When Do Customers Purchase Our Products?

(1)

Why (and How) Do Customers Select Our Products?

(1)

Why Do Potential Customers Not Purchase Our Products?

(1)

The External Environment

(9)

Competition

(2)

Economic Growth and Stability

(1)

Political Trends

(1)

Legal and Regulatory Issues

(1)

Technological Advancements

(1)

Sociocultural Trends

(2)

Collecting Environmental Data and Information

(5)

Secondary Information Sources

(3)

Primary Data Collection

(2)

Overcoming Problems in Data Collection

(1)

Lessons from Chapter 3

(2)

Questions for Discussion

(1)

Exercises

(1)

CHAPTER 4: SWOT Analysis: A Framework for Developing Marketing Strategy

(27)

Introduction

(2)

Directives for a Productive SWOT Analysis

(4)

Stay Focused

(1)

Search Extensively for Competitors

(1)

Collaborate with Other Functional Areas

(1)

Examine Issues from the Customers' Perspective

(1)

Look for Causes, Not Characteristics

(1)

Separate Internal Issues from External Issues

(1)

The Elements of SWOT Analysis

(4)

Strengths and Weaknesses

(2)

Opportunities and Threats

(1)

SWOT-Driven Strategic Planning

(8)

Analysis of the SWOT Matrix

(2)

Leveraging Competitive Advantages

(4)

Establishing a Strategic Focus

(1)

Developing Marketing Goals and Objectives

(5)

Developing Marketing Goals

(1)

Developing Marketing Objectives

(3)

Moving Beyond Goals and Objectives

(1)

Lessons from Chapter 4

(2)

Questions for Discussion

(1)

Exercises

(1)

CHAPTER 5: Managing Customer Relationships

100

(34)

Introduction

100

(1)

Understanding Consumer Buying Behavior

101

(7)

The Consumer Buying Process

101

(5)

Factors Affecting the Consumer Buying Process

106

(2)

Understanding Business Buying Behavior

108

(5)

Unique Characteristics of Business Markets

110

(1)

The Business Buying Process

111

(2)

Managing Customer Relationships

113

(4)

Developing Relationships in Consumer Markets

114

(2)

Developing Relationships in Business Markets

116

(1)

Quality and Value: The Keys to Developing Customer Relationships

117

(7)

Understanding the Role of Quality

117

(2)

Delivering Superior Quality

119

(1)

Understanding the Role of Value

120

(3)

Competing on Value

123

(1)

Customer Satisfaction: The Key to Retaining Customers Over the Long Term

124

(4)

Satisfaction versus Quality versus Value

124

(1)

Customer Satisfaction and Customer Retention

125

(2)

Customer Satisfaction Metrics

127

(1)

Lessons from Chapter 5

128

(4)

Questions for Discussion

132

(1)

Exercises

133

(1)

CHAPTER 6: Market Segmentation, Target Marketing, and Positioning

134

(26)

Introduction

134

(1)

Market Segmentation Strategies

135

(7)

Traditional Approaches to Market Segmentation

135

(4)

Emerging Approaches to Market Segmentation

139

(3)

Criteria for Successful Segmentation

142

(1)

Bases for Segmenting Consumer Markets

142

(6)

Behavioral Segmentation

143

(2)

Demographic Segmentation

145

(1)

Psychographic Segmentation

146

(2)

Geographic Segmentation

148

(1)

Bases for Segmenting Business Markets

148

(1)

Target Marketing Strategies

149

(2)

Differentiation and Positioning

151

(5)

Differentiation Strategies

151

(3)

Positioning Strategies

154

(2)

Lessons from Chapter 6

156

(3)

Questions for Discussion

159

(1)

Exercises

159

(1)

CHAPTER 7: Product Strategy

160

(27)

Introduction

160

(1)

Product Classification

161

(5)

Consumer Product Classifications

161

(2)

Business Product Classifications

163

(1)

Product Lines and Product Mixes

164

(2)

New Product Development

166

(2)

Product Strategy throughout the Life Cycle

168

(7)

Development Stage

168

(2)

Introduction Stage

170

(1)

Growth Stage

171

(1)

Maturity Stage

172

(2)

Decline Stage

174

(1)

Branding Strategy

175

(5)

Key Issues in Branding

176

(3)

Packaging and Labeling

179

(1)

Marketing Strategy for Services

180

(3)

Product Issues in Services

180

(1)

Pricing Services

181

(1)

Promoting Service Benefits

182

(1)

Distributing Services

182

(1)

Lessons from Chapter 7

183

(2)

Questions for Discussion

185

(1)

Exercises

186

(1)

CHAPTER 8: Pricing Strategy

187

(27)

Introduction

187

(1)

The Role of Pricing in Marketing Strategy

188

(4)

The Seller's Perspective on Pricing

188

(2)

The Buyer's Perspective on Pricing

190

(1)

A Shift in the Balance of Power

190

(1)

The Relationship Between Price and Revenue

191

(1)

Major Determinants of Pricing Strategy

192

(3)

Pricing Objectives

192

(1)

Supply and Demand

192

(1)

The Firm's Cost Structure

193

(1)

Competition and Industry Structure

193

(1)

Stage of the Product Life Cycle

194

(1)

Other Elements of the Marketing Mix

195

(1)

Price Elasticity of Demand

195

(6)

Situations That Increase Price Sensitivity

196

(2)

Situations That Decrease Price Sensitivity

198

(1)

Price Elasticity and Yield Management

199

(2)

Pricing Strategies

201

(5)

Base Pricing Strategies

201

(2)

Adjusting Prices in Consumer Markets

203

(2)

Adjusting Prices in Business Markets

205

(1)

Fixed versus Negotiated Pricing

206

(2)

Legal and Ethical Issues in Pricing

208

(1)

Price Discrimination

208

(1)

Price Fixing

208

(1)

Predatory Pricing

208

(1)

Deceptive Pricing

209

(1)

Lessons from Chapter 8

209

(3)

Questions for Discussion

212

(1)

Exercises

212

(2)

CHAPTER 9: Distribution and Supply Chain Management

214

(20)

Introduction

214

(1)

Distribution and Supply Chain Concepts

214

(4)

Marketing Channel Functions

214

(3)

Channel Effectiveness and Efficiency

217

(1)

Strategic Issues in Distribution and Supply Chain Management

218

(3)

Marketing Channel Structure

218

(2)

Channel Integration

220

(1)

Creating and Enhancing Value in the Supply Chain

221

(1)

Conflict and Collaboration in the Supply Chain

221

(4)

The Basis of Conflict in the Supply Chain

222

(1)

Collaborative Supply Chains

223

(2)

Trends in Marketing Channels

225

(4)

Advancing Technology

225

(1)

Shifting Power in the Channel

226

(1)

Outsourcing Channel Functions

226

(2)

The Growth of Direct Distribution and Nonstore Retailing

228

(1)

The Growth of Dual Distribution

228

(1)

Legal and Ethical Issues in the Supply Chain

229

(2)

Dual Distribution

229

(1)

Exclusive Channel Arrangements

229

(1)

Tying Arrangements

230

(1)

Counterfeit Products

230

(1)

Lessons from Chapter 9

231

(2)

Questions for Discussion

233

(1)

Exercises

233

(1)

CHAPTER 10: Integrated Marketing Communications

234

(23)

Introduction

234

(1)

Strategic Issues in Integrated Marketing Communications

235

(2)

Advertising

237

(5)

Types of Advertising

238

(2)

Determining the Advertising Budget

240

(1)

Evaluating Advertising Effectiveness

241

(1)

Public Relations

242

(4)

Public Relations Methods

243

(1)

Negative Public Relations

244

(2)

Personal Selling and Sales Management

246

(4)

The Sales Management Process

247

(2)

The Impact of Technology on Personal Selling

249

(1)

Sales Promotion

250

(3)

Sales Promotion in Consumer Markets

251

(1)

Sales Promotion in Business Markets

252

(1)

Lessons from Chapter 10

253

(2)

Questions for Discussion

255

(1)

Exercises

256

(1)

CHAPTER 11: Marketing Implementation and Control

257

(35)

Introduction

257

(1)

Strategic Issues in Marketing Implementation

258

(7)

The Link Between Strategic Planning and Implementation

258

(3)

The Elements of Marketing Implementation

261

(4)

Approaches to Marketing Implementation

265

(3)

Implementation By Command

265

(1)

Implementation Through Change

266

(1)

Implementation Through Consensus

267

(1)

Implementation as Organizational Culture

267

(1)

Internal Marketing and Marketing Implementation

268

(4)

The Internal Marketing Approach

268

(2)

The Internal Marketing Process

270

(2)

Putting Internal Marketing into Action

272

(1)

Evaluating and Controlling Marketing Activities

272

(7)

Formal Marketing Controls

273

(4)

Informal Marketing Controls

277

(1)

Scheduling Marketing Activities

278

(1)

Lessons from Chapter 11

279

(2)

Questions for Discussion

281

(1)

Exercises

281

(2)

Appendix: Assessing the Financial Impact of the Marketing Plan

283

(9)

Introduction

283

(1)

The Financial Assessment Process

284

(9)

Contribution Analysis

284

(1)

Response Analysis

285

(1)

Systematic Planning Models

286

(6)

CHAPTER 12: Marketing Ethics and Social Responsibility

292

(24)

Introduction

292

(1)

The Role of Ethics and Social Responsibility in Marketing Strategy

293

(5)

Dimensions of Social Responsibility

293

(2)

Marketing Ethics and Strategy

295

(2)

The Challenges of Being Ethical and Socially Responsible

297

(1)

Deceptive Practices in Marketing

298

(3)

Deceptive Communication and Promotion

299

(1)

Regulating Deceptive Marketing Practices

300

(1)

Organizational Determinants of Marketing Ethics and Social Responsibility

301

(4)

Codes of Conduct

302

(2)

Marketing Ethics and Leadership

304

(1)

Ethics, Social Responsibility, and Marketing Performance

305

(2)

Incorporating Ethics and Social Responsibility Into Strategic Planning

307

(3)

Lessons from Chapter 12

310

(2)

Questions for Discussion

312

(1)

Exercises

312

(4)

CASES

1. Napster 2.0: The Cat Is Back

316

(14)

2. Saturn

330

(9)

3. Mattel, Inc.

339

(12)

4. CART: Championship Auto Racing Teams

351

(7)

5. DoubleClick, Inc.

358

(8)

6. The Gillette Company

366

(10)

7. The Sunbeam Corporation: Coming Back from the Brink of Failure

376

(10)

8. Bass Pro Shops

386

(9)

9. The National D-Day Memorial and Bedford, Virginia

395

(7)

10. New Belgium Brewing Company: Environmental and Social Responsibilities

402

(6)

11. USA Today: The Nation's Newspaper and the World's Online News Source

408

(11)

12. J. Petermans Living Two Dreams

419

(7)

13. FedEx Corporation

426

(7)

14. Kentucky Fried Chicken and the Global Fast-Food Industry

433

(25)

15. Marketing at the Vanguard Group

458

(20)

16. Singapore Airlines: Customer Service Innovation (A)

478

(26)

17. Cola Wars In China: The Future Is Here

504

(17)

18. McDonald's and the Hotel Industry

521

(9)

19. Prosoft Systems Canada (A)

530

(15)

20. Prosoft Systems Canada (B)

545

(2)

APPENDIX A: Marketing Plan Worksheets

547

(14)

APPENDIX B: Example Marketing Plans

561

(36)

Endnotes

597

(12)

Company and Brand Index

609

(8)

Name Index

617

(2)

Subject Index

619

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Marketing Strategy

Summary

Author Biography

Table of Contents

Supplemental Materials