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Marketing management: analysis, planning, and control

Author: Kotler, Philip Series: Prentice-Hall series in marketing Publisher: Prentice Hall, 1984.Edition: 5th ed.Language: EnglishDescription: 792 p. ; 25 cm.ISBN: 0135579279Type of document: BookBibliography/Index: Includes bibliographical references and index
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Item type Current location Collection Call number Status Date due
Book Doriot Library
Main Collection
Print HF5415.13 .K64 1984
(Browse shelf)
000476352
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Includes bibliographical references and index

Digitized

Preface xvii PART ONE UNDERSTANDING MARKETING MANAGEMENT The Role of Marketing in Today's Organizations 1 l THE CORE CONCEPTS OF MARKETING 4 Needs, Wants, and Demands 4 Products 5 Value and Satisfaction 6 Exchange and Transactions 8 Markets 12 Marketing and Marketers 13 MARKETING MANAGEMENT 14 COMPANY ORIENTATION TOWARD THE MARKETPLACE 16 The Production Concept I7 The Product Concept 17 The Selling Concept 19 The Marketing Concept 20 The Societal Marketing Concept 28 THE RAPID ADOPTION OF MARKETING MANAGEMENT 30 In the Business Sector 30 In the Nonprofit Sector 30 In the International Sector 31 SUMMARY 32 Strategic Planning and the Marketing Management Process 34 A THEORY OF COMPANY EFFECTIVENESS IN A CHANGING ENVIRONMENT 36 Organization-Environment Fit 36 Environmental Change 39 Organizational Adaptability 41 THE STRATEGIC PLANNING PROCESS 44 Company Mission 45 Company Objectives and Goals 49 vii Company Portfolio Plan 51 Company New Business Plan 57 THE MARKETING MANAGEMENT PROCESS 60 Analyzing Market Opportunities 62 Researching and Selecting Target Markets 64 Developing Marketing Strategies 67 Planning Marketing Tactics 70 Implementing and Controlling the Marketing Effort 71 SUMMARY 73 PART TWO ANALYZING MARKET STRUCTURE AND BEHAVIOR The Marketing Environment 76 ACTORS IN THE COMPANY'S MICROENVIRONMENT 78 Company 78 Suppliers 79 Marketing Intermediaries 80 Customers 82 . Competitors 82 Publics 84 FORCES IN THE COMPANY'S MACROENVIRONMENT 87 Demographic Environment 87 Economic Environment 95 Physical ,Environment 97 Technological Environment 99 Political/Legal Environment 102 Socio/Cultural Environment IO6 MAPPING A COMPANY'S MARKETING ENVIRONMENT, MARKETING SYSTEM, AND MARKETING STRATEGY IIO SUMMARY 119 4 5 Consumer Markets and Buying Behavior 121 A MODEL OF CONSUMER BEHAVIOR 123 * MAJOR FACTORS INFLUENCING CONSUMER BEHAVIOR 124 Cultural Factors 124 Social Factors 126 Personal Factors 131 Psychological Factors 136 THE BUYING DECISION PROCESS 142 Buying Roles 142 Types of Buying Behavior 143 Researching the Buying Decision Process 146 Stages in the Buying Decision Process 147 SUMMARY 159 Organizational Markets and Buying Behavior 161 THE INDUSTRIAL MARKET 162 Who Is in the Industrial Market? 162 What Buying Decisions Do Industrial Buyers Make? 164 Who Participates in the Industrial Buying Process? 166 What Are the Major Influences on Industrial Buyers? 167 How Do Industrial Buyers Make Their Buying Decisions? 170 THE RESELLER MARKET 176 Who Is in the Reseller Market? 176 What Buying Decisions Do Resellers Make? 177 Who Participates in the Reseller Buying Process? 178 What Are the Major Influences on Reseller Buyers? 179 How Do Resellers Make Their Buying Decisions? 180 THE GOVERNMENT MARKET 181 Who Is in the Government Market? 181 What Buying Decisions Do Government Buyers Make? 181 Who Participates in the Government Buying Process? 182 ... VIII Contents What Are the Major Influences on Government Buyers? 183 How Do Government Buyers Make Their Buying Decisions? 183 SUMMARY 185 PART THREE RESEARCHING AND SELECTING MARKETING OPPORTUNITIES 6 7 The Marketing information System and Marketing Research 187 CONCEPT AND COMPONENTS OF A MARKETING INFORMATION SYSTEM 188 INTERNAL ACCOUNTING SYSTEM 189 The Order-Shipping-Billing Cycle 189 Improving the Timeliness of Sales Reports 190 Designing a User-Oriented Reports System 190 MARKETING INTELLIGENCE SYSTEM 192 MARKETING RESEARCH SYSTEM 194 Suppliers of Marketing Research 194 The Scope of Marketing Research 195 The Marketing Research Process 197 Characteristics of Good Marketing Research 209 Management's Use of Marketing Research 210 ANALYTICAL MARKETING SYSTEM 211 The Statistical Bank 211 The Model Bank 213 SUMMARY 222 Market Measurement and Forecasting 224 MAJOR CONCEPTS IN DEMAND MEASUREMENT 225 A Multitude of Measures of Market Demand 225 Which Market to Measure? 225 A Vocabulary for Demand Measurement 228 ESTIMATING CURRENT DEMAND 234 Total Market Potential 234 Area Market Potential 235 Estimating Actual Sales and Market Shares 239 ESTIMATING FUTURE DEMAND 239 Survey of Buyers' Intentions 24 I Composite of Sales-Force Opinions 242 Expert Opinion 243 Market-Test Method 244 Time-Series Analysis 244 Statistical Demand Analysis 246 SUMMARY 247 Market Segmentation, Targeting, and Positioning 250 MARKET SEGMENTATION 252 The General Approach to Segmenting a Market 252 Patterns of Market Segmentation 253 Market Segmentation Procedure 254 Bases for Segmenting Consumer Markets 254 Bases for Segmenting Industrial Markets 263 Requirements for Effective Segmentation 264 Contents ix MARKET TARGETING 265 Evaluating the Market Segments 265 Distinguishing Among Possible Market Coverage Strategies 267 Choosing a Market Coverage Strategy 271 PRODUCT POSITIONING 272 SUMMARY 275 PART FOUR DEVELOPING MARKETING STRATEGIES 9. The Marketing Planning Process 277 EVOLUTION OF BUSINESS PLANNING 277 * Unplanned Stage 278 Budgeting-System Stage 278 Annual-Planning Stage 278 Long-Range Planning Stage 279 Strategic-Planning Stage 279 THE NATURE AND CONTENTS OF A MARKETING PLAN 280 Executive Summary 282 Current Marketing Situation 282 Opportunity and Issue Analysis 284 Objectives 286 Marketing Strategy 287 Action Programs 288 Projected Profit-and-Loss Statement 289 Controls 289 THE THEORY OF EFFECTIVE MARKETING-RESOURCE ALLOCATION 289 The Profit Equation 289 The Sales Equation 290 Profit-Optimization Planning 291 Profit-Optimization 294 Long-Run Profit Projection 297 Marketing-Mix Optimization 300 Marketing Allocation Optimization 302 SUMMARY 306 ( 10 The New Product Development Process 309 THE NEW-PRODUCT-DEVELOPMENT DILEMMA 3IO EFFECTIVE ORGANIZATIONAL ARRANGEMENTS 312 IDEA GENERATION 316 Sources of New-Product Ideas 316 Idea-Generating Techniques 317 IDEA SCREENING 320 Product-idea Rating Devices 320 CONCEPT DEVELOPMENT AND TESTING 322 Concept Development 323 Concept Positioning 323 Concept Testing 324 MARKETING-STRATEGY DEVELOPMENT 325 BUSINESS ANALYSIS 330 Estimating Sales 331 Estimating Costs and Profits 333 PRODUCT DEVELOPMENT 335 MARKET TESTING 337 Consumer-Goods Market Testing 338 Industrial-Goods Market Testing 342 COMMERCIALIZATION 343 When (Timing] 343 Where (Geographical Strategy] 344 To Whom (Target-Market Prospects) 344 How (Introductory Marketing Strategy) 344 THE CONSUMER-ADOPTION PROCESS 345 Concepts in Innovation Diffusion and Adoption 346 Stages in the Adoption Process 346 Individual Difference in innovativeness 347 Role of Personal Influence 348 Influence of Product Characteristics on the Rate of Adoption 349 Influence of Organizational Buyers' Characteristics on the Rate of Adoption 349 SUMMARY 350 x Contents 11 Marketing Strategies in Different Stages of the Product Life Cycle 352 THE CONCEPT OF PRODUCT LIFE CYCLE 353 Major Stages of the S-Shaped Product Life Cycle 354 Product-Category, Product-Form, and Brand Life Cycles 355 Other Shapes of the Product Life Cycle 356 Rationale for the Product Life Cycle 361 INTRODUCTION STAGE 362 Marketing Strategies in the Introduction Stage 363 GROWTH STAGE 366 Marketing Strategies in the Growth Stage 366 MATURITY STAGE 367 Marketing Strategies in the Mature Stage 367 DECLINE STAGE 370 Marketing Strategies During the Decline Stage 371 SUMMARY AND CRITIOUE OF THE PRODUCT LIFE-CYCLE CONCEPT 372 THE CONCEPT OF MARKET EVOLUTION 375 Stages in Market Evolution 376 Dynamics of Attribute Competition 379 SUMMARY 38 I 12 Marketing Strategies for Market Leaders, Challengers, Followers, and Nichers 383 MARKET-LEADER STRATEGIES 386 Expanding the Total Market 387 Protecting Market Share 389 Expanding Market Share 394 MARKET-CHALLENGER STRATEGIES 397 Defining the Strategic Objective and Opponent(s) 397 Choosing an Attack Strategy 401 MARKET-FOLLOWER STRATEGIES 409 MARKET-NICHER STRATEGIES 4IO SUMMARY 412 Marketing Strategies During Periods of Shortages, Inflation, and Recession 415 SHORTAGES 4 16 Nature and Characteristics of Shortages 416 A Shortage Economy's Impact on Consumers 4 18 A Shortage Economy's Impact on Organizational Buyers 418 Company Marketing Strategies During Shortages 4 19 INFLATION 424 Nature and Characteristics of Inflation 424 Inflation's Impact on Consumers 425 Inflation's Impact on Organizational Buyers 426 Company Marketing Strategies During Inflation 426 RECESSION 431 Nature and Characteristics of Recession 433 Recession's Impact on Consumers 433 Recession's Impact on Organizational Buyers 434 Company Marketing Strategies During Recession 435 SUMMARY 440 . Marketing Strategies for the Global Marketplace 442 APPRAISING THE INTERNATIONAL MARKETING ENVIRONMENT 444 The International Trade System 446 Economic Environment 447 Political-Legal Environment 448 Cultural Environment 449 DECIDING WHETHER TO GO ABROAD 449 DECIDING WHICH MARKETS TO ENTER 450 DECIDING HOW TO ENTER THE MARKET 451 Export 451 Joint Venturing 453 Direct Investment 454 DECIDING ON THE MARKETING PROGRAM 455 Product 455 Promotion 457 Price 457 Distribution Channels 457 DECIDING ON THE MARKETING ORGANIZATION 459 Export Department 459 International Division 459 Multinational Organization 459 SUMMARY 460 PART FIVE PLANNING MARKETING TACTICS 15 16 Yii rnntanrc Product, Brand, Packaging, and Services Decisions 462 WHAT IS A PRODUCT? 462 Core, Tangible, and Augmented Product 463 Product Hierarchy 464 PRODUCT-CLASSIFICATION SCHEMES 465 Durable Goods, Nondurable Goods, and Services 465 Consumer-Goods Classification 465 Industrial-Goods Classification 467 PRODUCT-MIX DECISIONS 469 PRODUCT-LINE DECISIONS 472 Product-Line Analysis 472 Product-Line Length 474 Line-Modernization Decision 478 Line-Featuring Decision 478 Line-Pruning Decision 479 INDIVIDUAL PRODUCT DECISIONS 479 Product-Attribute Decisions 479 Brand Decisions 482 Packaging and Labeling Decisions 490 Customer-Service Decisions 492 SERVICE-PRODUCT DECISIONS 496 Nature and Characteristics of a Service 497 Classification of Services 499 The Extent and Importance of Marketing in the Service Sector 499 SUMMARY 502 Pricing Decisions 505 SETTING THE PRICE 506 Selecting the Pricing Objective 507 Determining Demand 508 Estimating Costs 512 Analyzing Competitors' Prices and Offers 515 Selecting a Pricing Method 515 Selecting the Final Price 522 MODIFYING THE PRICE 523 Geographical Pricing 523 Price Discounts and Allowances 525 Promotional Pricing 526 Discriminatory Pricing 526 New-Product Pricing 527 Product-Mix Pricing 528 INITIATING AND RESPONDING TO PRICE CHANGES 530 initiating Price Cuts 530 Initiating Price Increases 530 Buyers' Reactions to Price Changes 531 Competitors' Reactions to Price Changes 532 Responding to Price Changes 532 SUMMARY 536 17 18 Marketing-Channel Decisions 538 THE NATURE OF MARKETING CHANNELS 539 Why Are Marketing Intermediaries Used? 539 Marketing-Channel Functions 541 Number of Channel Levels 542 Types of Channel Flows 543 Channels in the Service Sector 545 CHANNEL DYNAMICS 546 Growth of Vertical Marketing Systems 546 Growth of Horizontal Marketing Systems 549 Growth of Multichannel Marketing Systems 549 Roles of Individual Firms in a Channel 550 Channel Cooperation, Conflict, and Competition 550 CHANNEL-DESIGN DECISIONS 551 Establishing the Channel Objectives and Constraints 552 Identifying the Major Channel Alternatives 553 Evaluating the Major Channel Alternatives 556 CHANNEL-MANAGEMENT DECISIONS 557 Selecting Channel Members 557 Motivating Channel Members 558 Evaluating Channel Members 560 CHANNEL-MODIFICATION DECISIONS 560 A Conceptual Approach to the Problem of Channel Modification 561 SUMMARY 562 Retailing, Wholesaling, and Physical-Distribution Decisions 564 RETAILING 565 Nature and Importance of Retailing 565 Types of Retailers 565 Retailer Marketing Decisions 579 The Future of Retailing 582 WHOLESALING 583 Nature and Importance of Wholesaling 583 Types of Wholesalers 585 Wholesaler Marketing Decisions 589 The Future of Wholesaling 598 PHYSICAL DISTRIBUTION 591 Nature of Physical Distribution 591 The Physical-Distribution Objective 593 Order Processing 594 Warehousing 595 Inventory 596 Transportation 597 Organizational Responsibility for Physical Distribution 599 SUMMARY 599 Communication- and Promotion-Mix Decisions 602 THE COMMUNICATION PROCESS 604 STEPS IN DEVELOPING EFFECTIVE COMMUNICATIONS 607 Identifying the Target Audience 607 Determining the Communication Objectives 61 I Designing the Message 613 Selecting the Communication Channels 619 Establishing the Total Promotion Budget 621 Deciding on the Promotion Mix 623 ... Contents XI II Measuring Promotion's Results 63 I Managing and Coordinating the Marketing Communication Process 632 SUMMARY 633 Advertising Decisions 635 SETTING THE ADVERTISING OBJECTIVES 636 DECIDING ON THE ADVERTISING BUDGET 638 Sales-Response and Decay Model 638 Adaptive-Control Model 639 Competitive-Share Model 639 DECIDING ON THE MESSAGE 640 Message Generation 640 Message Evaluation and Selection 641 Message Execution 643 DECIDING ON THE MEDIA 645 Deciding on Reach, Frequency, and Impact 645 Choosing Among Major Media Types 647 Selecting Specific Media Vehicles 649 Deciding on Media Timing 650 EVALUATING ADVERTISING EFFECTIVENESS 654 Communication-Effect Research 655 Sales-Effect Research 656 SUMMARY 658 Sales Promotion and Publicity Decisions 660 SALES PROMOTION 660 Rapid Growth of Sales Promotion 66 I Purpose of Sales Promotion 66I Major Decisions in Sales Promotion 663 Establishing the Sales Promotion Objectives 663 Selecting the Sales Promotion Tools 663 Developing the Sales Promotion Program 665 Pretesting the Sales Promotion Program 667 Implementing and Controlling the Sales Promotion Program 667 Evaluating the Sales Promotion Results 668 PUBLICITY 668 Major Decisions in Publicity 670 Establishing the Publicity Objectives 670 Choosing the Publicity Messages and Vehicles 671 Implementing the Publicity Plan 672 Evaluating the Publicity Results 672 SUMMARY 673 22 xiv Contents Sales Management and Personal-Selling Decisions 675 DESIGNING THE SALES FORCE 676 Sales-Force Objectives 676 Sales-Force Strategy 679 Sales-Force Structure 680 Sales-Force Size 682 Sales-Force Compensation 684 MANAGING THE SALES FORCE 687 Recruiting and Selecting Sales Representatives 687 Training Sales Representatives 688 Directing Sales Representatives 690 Motivating Sales Representatives 694 Evaluating Sales Representatives 695 PRINCIPLES OF PERSONAL SELLING 699 Salesmanship 699 Negotiation 705 Relationship Management 712 SUMMARY 713 PART SIX IMPLEMENTING AND CONTROLLING THE MARKETING EFFORT 23 Marketing Organization and Implementation 716 MARKETING ORGANIZATION 7I6 The Evolution of the Marketing Department 716 Ways of Organizing the Marketing Department 718 Marketing's Relations with Other Departments 729 Strategies for Building a Companywide Marketing Orientation 734 Introducing Marketing in Nonbusiness Organizations 736 MARKETING IMPLEMENTATION 738 Diagnostic Skills 739 Company Levels 739 Marketing Implementation Skills 740 Implementation-Evaluation Skills 740 SUMMARY 74 I 24 Marketing Control 743 ANNUAL-PLAN CONTROL 745 Sales Analysis 745 Market-Share Analysis 746 Marketing Expense-to-Sales Analysis 749 Financial Analysis 751 Customer-Attitude Tracking 752 Corrective Action 753 PROFITABILITY CONTROL 754 Methodology of Marketing-Profitability Analysis 754 Determining the Best Corrective Action 757 Direct versus Full Costing 758 EFFICIENCY CONTROL 759 Sales-Force Efficiency 759 Advertising Efficiency 760 Sales Promotion Efficiency 760 Distribution Efficiency 760 STRATEGIC CONTROL 76 I Marketing-Effectiveness Rating Review 761 The Marketing Audit 764 THE MARKETING CONTROLLER CONCEPT 771 SUMMARY 773 INDICES Company Index 777 Name Index 781 Subject Index 787 Contents xv

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