Principles of Marketing

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Pub Date: 2015

ISBN 13:

Publisher: University of Minnesota Libraries Publishing

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Reviewed by Marina Jaffey, Instructor & Program Leader Marketing, Camosun College, on 10/10/2013.

This American Principles of Marketing text covers all the key areas & ideas normally included in a first year College/University … read more

 

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Reviewed by Chris Blocker, Assistant Professor, Colorado State University, on 1/8/2016.

Principles of Marketing by Tanner & Raymond is a very comprehensive text, which addresses the full gamut of topics that an instructor might want to … read more

 

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Reviewed by Oksana Grybovych, Associate professor, University of Northern Iowa, on 12/6/2016.

The text would greatly benefit from a table of contents, glossary, and an index. Otherwise, most content areas are discussed rather thoroughly - even … read more

 

Table of Contents

Publisher Information
About the Authors
Acknowledgments
Preface

Chapter 1: What is Marketing?
1.1 Defining Marketing
1.2 Who Does Marketing?
1.3 Why Study Marketing?
1.4 Themes and Organization of This Book
1.5 Discussion Questions and Activities

Chapter 2: Strategic Planning
2.1 The Value Proposition
2.2 Components of the Strategic Planning Process
2.3 Developing Organizational Objectives and Formulating Strategies
2.4 Where Strategic Planning Occurs within Firms
2.5 Strategic Portfolio Planning Approaches
2.6 Discussion Questions and Activities

Chapter 3: Consumer Behavior: How People Make Buying Decisions
3.1 Factors That Influence Consumers’ Buying Behavior
3.2 Low-Involvement Versus High-Involvement Buying Decisions and the Consumer’s Decision-Making Process
3.3 Discussion Questions and Activities

Chapter 4: Business Buying Behavior
4.1 The Characteristics of Business-to-Business (B2B) Markets
4.2 Types of B2B Buyers
4.3 Buying Centers
4.4 Stages in the B2B Buying Process and B2B Buying Situations
4.5 International B2B Markets and E-commerce
4.6 Ethics in B2B Markets
4.7 Discussion Questions and Activities

Chapter 5: Market Segmenting, Targeting, and Positioning
5.1 Targeted Marketing versus Mass Marketing
5.2 How Markets Are Segmented
5.3 Selecting Target Markets and Target-Market Strategies
5.4 Positioning and Repositioning Offerings
5.5 Discussion Questions and Activities

Chapter 6: Creating Offerings
6.1 What Composes an Offering?
6.2 Types of Consumer Offerings
6.3 Types of Business-to-Business (B2B) Offerings
6.4 Branding, Labeling, and Packaging
6.5 Managing the Offering
6.6 Discussion Questions and Activities

Chapter 7: Developing and Managing Offerings

About the Book

Principles of Marketing is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. This adapted edition is produced by the University of Minnesota Libraries Publishing through the eLearning Support Initiative.

Principles of Marketing teaches the experience and process of actually doing marketing – not just the vocabulary. It carries five dominant themes throughout in order to expose students to marketing in today's environment:

Service dominant logic — This textbook employs the term ”offering“ instead of the more traditional First "P" — product. That is because consumers don’t sacrifice value when alternating between a product and a service. They are evaluating the entire experience, whether they interact with a product, a service, or a combination. So the fundamental focus is providing value throughout the value chain, whether that value chain encompasses a product, service, or both.

Sustainability — Increasingly, companies are interested in the impact they are having on their local community as well as the overall environment. This is often referred to as the ”triple bottom line“ of financial, social, and environment performance.

Ethics and social responsibility — Following on the sustainability notion is the broader importance of ethics and social responsibility in creating successful organizations. The authors make consistent references to ethical situations throughout chapter coverage, and end of chapter material in most chapters will encompass ethical situations.

Global coverage — the authors deliberately entitled Chapter 1 ”What is Marketing?“ Whether it is today’s price of gasoline, the current U.S. presidential race, or Midwestern U.S. farming, almost every industry and company needs strong global awareness. And today’s marketing professionals must understand the world in which they and their companies operate.

Metrics — Firms today have the potential to gather more information than ever before about their current and potential customers. That information gathering can be costly, but it can also be very revealing. With the potential to capture so much more detail about micro transactions, firms should now be more able to answer ”well, what this marketing strategy really worth it?“ And ”what is the marketing ROI?“ And finally, "what is this customer or set of customers worth to us over their lifetime?"

About the Contributors

Author(s)

Unnamed Author is professor of marketing and associate dean of faculty development and research at the Hankamer School of Business, Baylor University. He is an internationally recognized expert in sales and sales management. He is the author or coauthor of twelve books, including two best-selling textbooks with McGraw-Hill—Selling: Building Partnerships and Business Marketing: Connecting Strategy, Relationships and Learning. His books have been translated into several languages and distributed in over thirty countries.

Dr. Tanner spent eight years in marketing and sales with Rockwell International and Xerox Corporation. In 1988, he earned his PhD from the University of Georgia and joined the faculty at Baylor University, where he currently serves as the research director of the Center for Professional Selling.

In addition to writing and research, Dr. Tanner maintains an active consulting and training practice. Recent clients include IBM, Hillcrest Medical System, and others. He is the managing partner of Team Fulcrum, which conducts sales training and marketing research, and he is a founder and research director of BPT Partners, the premier training and education company focused on advancing the skills and competency of professionals in the customer relationship management industry.

Unnamed Author is a professor of marketing at Clemson University. Prior to joining the faculty at Clemson, she served on the faculty at American University in Washington, DC, and helped coordinate the graduate marketing program at Johns Hopkins University. Previously, she was an invited Fulbright Professor of Marketing at Seoul National University in Seoul, Korea.

Dr. Raymond received her PhD from the University of Georgia. She has extensive industry experience doing strategic planning and acquisition analysis, marketing research, and investment analysis for Holiday Inns, Inc.; Freeport Sulphur; and Howard, Weil, Labouisse, Friedrichs. Dr. Raymond also does consulting, seminars, and marketing training for multinational companies, which have included organizations such as Merit Communications in Seoul, Korea; the Conference Center and Inn at Clemson University; and Sangyong Group.

Her research focuses on strategy in domestic and international markets, public policy issues, and social marketing. Dr. Raymond has published over one hundred papers appearing in journals such as International Marketing Review, the Journal of Advertising Research, the Journal of Marketing Education, the Journal of Personal Selling and Sales Management, and the Journal of Public Policy and Marketing, as well as numerous other journals and international conference proceedings. Dr. Raymond has also received numerous awards and recognition for her teaching and research. She received the Professor of the Year Award from Clemson University Panhellenic Association, the Undergraduate Teaching Excellence Award from the College of Business and Behavioral Science at Clemson three times, the Eli Lilly Faculty Excellence Awards for Outstanding Research and Outstanding Teaching, and the Eli Lilly Partnership Awards, and recognition for Leadership in Student Development from the Dow Chemical Company.