In todays world, social media marketing is essential to a firms success and the best way to communicate your value offe

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Marketing Management

Third Edition

Greg W. Marshall ROLLINS COLLEGE

Mark W. Johnston ROLLINS COLLEGE

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MARKETING MANAGEMENT, THIRD EDITION

Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2019 by

McGraw-Hill Education. All rights reserved. Printed in the United States of America. Previous editions ©

2015 and 2010. No part of this publication may be reproduced or distributed in any form or by any means,

or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education,

including, but not limited to, in any network or other electronic storage or transmission, or broadcast for

distance learning.

Some ancillaries, including electronic and print components, may not be available to customers outside the

United States.

This book is printed on acid-free paper.

1 2 3 4 5 6 7 8 9 LWI 21 20 19 18

ISBN 978-1-259-63715-5

MHID 1-259-63715-8

Executive Portfolio Manager: Meredith Fossel

Lead Product Developer: Kelly Delso

Product Developers: Alyssa Lincoln and Lynn Huddon

Content Project Managers: Melissa M Leick, Danielle Clement, Karen Jozefowicz

Senior Marketing Manager: Nicole N. Young

Buyer: Sandy Ludovissy

Design: David Hash

Content Licensing Specialist: Ann Marie Jannette

Cover Image: ©kudla/Shutterstock.com

Compositor: MPS Limited

Printer: LSC Communications

All credits appearing on page or at the end of the book are considered to be an extension of the copyright

page.

Library of Congress Cataloging-in-Publication Data

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Marshall, Greg W., author. | Johnston, Mark W., author.

Marketing management/Greg W. Marshall, Rollins College, Mark W.

Johnston, Rollins College.

Third edition. | New York, NY : McGraw-Hill Education, [2019]

LCCN 2017048393 | ISBN 9781259637155 (alk. paper)

LCSH: Marketing—Management.

LCC HF5415.13 .M3699 2019 | DDC 658.8—dc23 LC record

available at https://lccn.loc.gov/2017048393

The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website

does not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education

does not guarantee the accuracy of the information presented at these sites.

mheducation.com/highered

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To Patti and Justin.

-Greg

To Susan, my love, and Grace, my joy, thank you

-Mark

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ABOUT THE AUTHORS

Greg W. Marshall

Greg W. Marshall is the Charles Harwood Professor of Marketing and Strategy in the Roy E. Crummer Graduate School of Business at Rollins College in Winter Park, Florida, and is also the academic director of the Executive DBA program there. For three years he served as vice president for strategic marketing for Rollins. He earned his Ph.D. from Oklahoma State University and holds a BSBA and an MBA from the University of Tulsa. Before joining Rollins, Greg was on the faculty at the University of South Florida, Texas Christian University, and Oklahoma State University. He currently also holds an appointment as professor of marketing and strategy at Aston Business School in Birmingham, United Kingdom.

Prior to returning to school for his doctorate, Greg worked in the consumer packaged goods and retailing industries with companies such as Warner- Lambert, Mennen, and Target. He also has considerable experience as a consultant and trainer for a variety of organizations and has been heavily involved in teaching marketing management at multiple universities to both MBA and advanced undergraduate students.

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Greg is editor-in-chief of the European Journal of Marketing and is former editor of the Journal of Marketing Theory and Practice and the Journal of Personal Selling & Sales Management. His published research focuses on the areas of decision making by marketing managers, intraorganizational relationships, and sales force performance. He is a member of the board of directors of the American Marketing Association and is past president of the AMA Academic Council. He is a distinguished fellow and past president of the Academy of Marketing Science and is a distinguished fellow, past president, and member of the board of governors of the Society for Marketing Advances. Greg also serves as a fellow and member of the academic advisory council of the Direct Selling Education Foundation.

Mark W. Johnston

Mark W. Johnston is the Alan and Sandra Gerry Professor of Marketing and Ethics in the Roy E. Crummer Graduate School of Business at Rollins College in Winter Park, Florida. He earned his Ph.D. from Texas A&M University and holds a BBA and an MB from Western Illinois University. Before joining Rollins, Mark was on the faculty at Louisiana State University. Prior to his academic career, he worked in industry as a sales representative for a leading distributor of photographic equipment. His research has been published in a number of professional journals including the Journal of Marketing Research, Journal of Applied Psychology, Journal of Business Ethics, Journal of Marketing Education, Journal of Personal Selling & Sales Management, and many others.

Mark has been retained as a consultant for firms in a number of industries including personal health care, chemical, transportation, hospitality, and telecommunications. He has consulted on a wide range of issues involving strategic business development, sales force structure and performance, international market opportunities, and ethical decision making. Mark also works with MBA students on consulting projects around the world for companies such as Tupperware, Disney, and Johnson & Johnson. He has conducted seminars globally on a range of topics including the strategic role of selling in the organization, developing an ethical framework for decision making, improving business unit performance, and structuring an effective international marketing department.

For more than two decades Mark has taught marketing management, working with thousands of students. His hands-on, real-world approach has

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earned him a number of teaching awards.

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PREFACE INTRODUCTION

No doubt about it, marketing is really changing. Marketing today is: Very strategic—customer-centricity is now a core organizational value. Practiced virtually, digitally, and socially to a greater degree than ever before imagined. Enabled and informed by analytics and new technologies. Accountable to top management through diligent attention to metrics and measurement. Oriented toward service as driver of product. “Owned” by everybody in the firm to one degree or another.

Given the dramatic changes in the field of marketing, it is a sure bet that the job of leading and managing marketing’s contributions to the organization and its customers, clients, partners, and society at large has changed at a similar level. Yet the typical marketing management book on the market today does not effectively capture and communicate to students how marketing management is really practiced in the 21st-century world of business. We hear it from colleagues all the time—the complaint that the book they are using in their marketing management course “reads like marketing was practiced a decade ago,” or that it “doesn’t say what I believe the students need to hear,” or that it “doesn’t match what my working students actually do on the job,” or that it “reads like an encyclopedia of marketing,” or that it “has too much about everything and not enough focus on anything.” These remarks come from instructors who teach the MBA basic marketing course and those who teach advanced or capstone undergraduate marketing management courses; each of these

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courses is appropriate for a marketing management book. Clearly many instructors are looking for a marketing management book that is:

Written for today’s students in an interesting and lively, yet professional, style. Up-to-date in all relevant aspects of how marketing is done today. A step up from the norm in terms of support materials for the instructor and students.

Marshall/Johnston’s Marketing Management 3e continues its very successful tradition of taking great effort to represent marketing management the way it is actually practiced in successful organizations today. In our view, leading and managing the aspects of marketing in order to improve individual, unit, and organizational performance—marketing management—is a core business activity. Its relevance is not limited just to marketing departments or marketing majors. The ability to do great marketing management is relevant to, and an important knowledge and skill for, everyone in a firm and all business majors.

The table of contents for the third edition of the book reflects the major trends in the managerial practice of marketing, and the pedagogy is crafted around learning and teaching preferences in today’s classroom. Above all, it is written in a style that is appealing for both students and instructors so that students will actually enjoy reading the material and instructors will be proud to teach from it and confident that they will feel good about presenting its up-to-date, professional approach to their classes.

The book contains 14 chapters, which we find is perfect for most course timetables. It has a fully developed array of application activities both in end-of-chapter materials and for student engagement on McGraw- Hill Connect. For instructors who craft their course around a marketing plan project, the book is ideal as these exercises clearly build on creating the elements of a marketing plan. vi

STRUCTURE OF THE THIRD EDITION

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Marshall/Johnston’s Marketing Management 3e has five major parts, reflective of the logical sequence of building blocks for the course. Part One: Discover Marketing Management. In this part, students gain an understanding of the dynamics of the field. Significant attention is paid to framing the importance of studying marketing to future success as a manager. In particular, doing marketing in a global, ethical, and sustainable way is highlighted. To kick off the marketing planning theme early in the course, Part One includes comprehensive coverage of strategy and planning along with an example marketing plan. Part Two: Use Information to Drive Marketing Decisions. It has often been said that information is the fuel that fires the engine of marketing management decision making. With this in mind, Part Two focuses on effective management of information to better understand customers, both in the consumer and business marketplaces. Market research elements, Customer Relationship Management (CRM), Big Data, marketing analytics, and marketing dashboards receive thorough coverage. Effective segmentation, target marketing, and positioning are at the core of successful marketing, and this part provides a modern managerial treatment of these critical topics along with other relevant competencies and capabilities of successful marketers. Part Three: Develop the Value Offering—The Product Experience. This part presents a clear and comprehensive drill-down into today’s world of product strategy, branding, and new product development. Reflective of the rise of the concept of service- dominant logic in marketing and the notion that service is a key driver of product success, we devote a separate chapter to making important links between service and the overall value offering. Part Four: Price and Deliver the Value Offering. Part Four begins with a fresh, managerially relevant treatment of pricing decision making, followed by an integrative approach to the multitude of modes at a marketing manager’s disposal today by which an offering can be made available to customers through channels and points of customer interface.

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Part Five: Communicate the Value Offering. With the rise of digital and social media marketing and the concurrent dramatic shifts in how marketing managers and their customers communicate, this part has been extensively revised for Marshall/Johnston’s Marketing Management 3e. A key to successful marketing management today is the capability of marketing managers to create and execute the mix of digital, social media, and legacy promotional approaches most desired and preferred by customers.

KEY FEATURES

Management Decision Cases At the end of each chapter is a case drawn from the business headlines. Students are engaged by the currency of the problem and asked to develop solutions using chapter material. The cases are just the right size for today’s classroom use—not too short, but not too long!

Marketing Plan Exercises Each chapter connects that chapter’s key content to a semester-long marketing plan project activity. Marshall/Johnston’s Marketing Management 3e is the only marketing management book to effectively thread a marketing planning focus throughout the textbook itself. Whether or not a semester marketing plan project is used by the instructor, the marketing

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plan exercise feature does a great job of tying together important planning concepts for students in a methodical, stepwise manner.

Glossary of Terms A complete glossary of key terms and definitions is provided at the end of the book. The glossary serves as an important reference as well as a handy study aid for students preparing for exams.

Other Features in Each Chapter

Learning Objectives: These set the stage at the beginning of the

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chapter for what students will achieve by reading and studying the chapter. Each objective reappears in the margin at the relevant point in the chapter so students can track their progress. Summary: At the end of each chapter, a summary reminds students of the highlighted topics. Key Terms: Terms are bolded throughout the chapter and connected with definitions in the Glossary. Application Questions: These engaging questions at the end of each chapter are designed to direct students’ thinking about the topics to the next level of application. Throughout the book all of these questions have been specially designed to simulate managerial decision making.

NEW AND UPDATED CONTENT IN THE THIRD EDITION Throughout this book, we’ve provided hundreds of new examples from a wide variety of practicing marketers and firms. Each chapter contains a brand-new Management Decision Case, and there are new and updated Application Questions at the end of each chapter. In addition, hundreds of new or replacement references have been added to the chapter end notes. Here are some highlights of specific changes, by chapter:

Chapter 1: Marketing in Today’s Business Milieu

Emphasis on the impact of the current “official” definition of marketing. New content around the major challenges facing marketing today. Coverage of the American Marketing Association’s 7 Big Problems in Marketing.

Chapter 2: Marketing Foundations: Global, Ethical, Sustainable

Updated discussion and examples of global marketing trends. Focus on the importance of ethical decision making in marketing and the marketing mix. In-depth coverage of sustainability and the “triple bottom line” in

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marketing.

Chapter 3: Elements of Marketing Strategy, Planning, and Competition

Impact of marketing planning at the strategic business unit (SBU) level. Updated the JetBlue threaded marketing planning example. Updated the chapter appendix, which is an abbreviated example marketing plan.

Chapter 4: Market Research Essentials

Updated coverage of new research methodologies with examples. Updated treatment of the marketing research industry. New content on data collection technologies.

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Chapter 5: CRM, Big Data, and Marketing Analytics

Updated discussion of the modern perils of potential customer information abuse and data security. Major new section on sources and types of Big Data. Major new section on marketing analytics as supported by Big Data.

Chapter 6: Understand Consumer and Business Markets

Revised commentary on new trends in consumer and business markets. New and updated examples. Updated discussion of the consumer decision-making process.

Chapter 7: Segmentation, Target Marketing, and Positioning

Updated census information for geographic segmentation. Extra emphasis on the millennial customer.

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Basics of CRM content moved from this chapter to earlier position in Chapter 5.

Chapter 8: Product Strategy and New Product Development

New and updated content on product classifications. Revised and updated content to reflect changes in product strategy and new product development. Updated discussion on the product life cycle.

Chapter 9: Build the Brand

Updated content about the most valuable brands today. Revised and updated content on brand definitions and concepts. Updated content around contemporary package designs.

Chapter 10: Service as the Core Offering

New content on the service dominant logic. New content around the use of technologies to improve the customer service experience. Revised content to reflect changes in services strategy.

Chapter 11: Manage Pricing Decisions

Revised table on price lining. Discussion of innovative pricing strategies. Discussion of pricing’s role within the marketing strategy decision process.

Chapter 12: Manage Marketing Channels, Logistics, and Supply Chain

Emphasis on the phenomenal growth of e-retailing. Attention to omnichannel retailing as firms deploy a number of channels in a customer’s shopping experience. Enhanced treatment of customer communities.

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Chapter 13: Promotion Essentials: Digital and Social Media Marketing

New major section with full coverage of the role of digital marketing in communicating value. Clear delineation of types and approaches to digital marketing, including best practice tips and cautions for their use. New major section on managing social media marketing and engaging customers directly in the dialogue about a firm and its offerings.

Chapter 14: Promotion Essentials: Legacy Approaches

Thoroughly revised discussion of legacy advertising tools to reflect changes in promotional strategy. Updated content on leading advertisers and the promotion industry. Updated and new content on crisis management.

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ACKNOWLEDGMENTS The task of writing a textbook requires the talents of many dedicated people. First and foremost, we want to thank the McGraw-Hill team for sharing the vision of this project with us from the very beginning. Particularly given the dynamic nature of marketing management both as a professional field and as a course of study, it was critically important that throughout the development process the entire team remain steadfast in believing in the vision of the project.

In particular, we want to recognize and thank the following individuals at McGraw-Hill who played a significant part in the successful development of Marketing Management 3e. Meredith Fossell, Executive Portfolio Manager, has been a visionary and strategic editorial leader throughout the project and we owe her a debt of gratitude for putting the project onto a great track. Lynn Huddon and Alyssa Lincoln, Product Developers, were instrumental in working with us daily to achieve this end result. Melissa Leick and Danielle Clement, Project Managers, were

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invaluable in keeping all elements of our product moving through production. And Nicole Young, Senior Marketing Manager, deserves high kudos for her excellence in communicating the value of our new edition to the marketplace. All of these great professionals made our job much more enjoyable. We have been McGraw-Hill authors for over 15 years and consider their team to be family.

Phillip Wiseman at the C. T. Bauer College of Business at the University of Houston provided able guidance and superior content in helping build the substantive revisions of Chapters 5 and 13. Phillip also led the process of developing new and updated interactive Connect exercises. His contributions to the third edition are exemplary. George Allen at the Howard Dayton School of Business at Asbury University and Andrew Thoeni at the Coggin College of Business at the University of North Florida did a masterful job in creating the new set of Management Decision Cases that add so much value to this new edition. Likewise, Jill Solomon at the University of South Florida developed the accompanying PowerPoints—she is truly an outstanding instructor of marketing management herself and that talent comes through in the materials she has created. In addition, we want to recognize the contributions of several members of the Rollins College Crummer Graduate School of Business team. Each of the following folks contributed to the plethora of great current business examples featured in this edition: Brandon Duncan, Richard Ross, Amy Crawford Weschler, and Courtney Wood. Courtney, along with Hannah Coyman from Crummer, also worked with Phillip Wiseman on the Connect interactives. We deeply appreciate the exceptional contributions of each of these individuals!

And finally, we want to offer a very special and heartfelt note of appreciation to our families, colleagues, and friends. Their encouragement and good humor throughout this process were integral to the end result.

Greg W. Marshall, ROLLINS COLLEGE

Mark W. Johnston, ROLLINS COLLEGE

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REVIEWERS Many colleagues have participated in the developmental process of Marshall/Johnston’s Marketing Management from the first edition through this new third edition, via focus groups, chapter reviews, and other means. Our thanks go to each of the following people for their guidance and suggestions throughout this process:

Kalthom Abdullah, INTERNATIONAL ISLAMIC UNIVERSITY OF MALAYSIA

Denise Ammirato, WESTFIELD STATE COLLEGE

David Amponsah, TROY UNIVERSITY MONTGOMERY

Craig Andrews, MARQUETTE UNIVERSITY

David Andrus, KANSAS STATE UNIVERSITY

Maria Aria, CAMDEN COUNTY COLLEGE

Paul Arsenault, WEST CHESTER UNIVERSITY OF PENNSYLVANIA

Semih Arslanoglu, BOSTON UNIVERSITY

Chad Autry, UNIVERSITY OF TENNESSEE–KNOXVILLE

Parimal Baghat, INDIANA UNIVERSITY OF PENNSYLVANIA

William Baker, SAN DIEGO STATE UNIVERSITY

Roger Baran, DEPAUL UNIVERSITY

Danny Bellenger, GEORGIA STATE UNIVERSITY

John Bellenoit, WESTFIELD STATE COLLEGE

Parimal Bhagat, INDIANA UNIVERSITY OF PENNSYLVANIA

Subodh Bhat, SAN FRANCISCO STATE UNIVERSITY

Carol Bienstock, RADFORD UNIVERSITY

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Diedre Bird, PROVIDENCE COLLEGE

George W. Boulware, LIPSCOMB UNIVERSITY

Douglas Boyd, JAMES MADISON UNIVERSITY

Samuel Bradley, ALVERNIA UNIVERSITY

Eileen Bridges, KENT STATE UNIVERSITY

Steve Brokaw, UNIVERSITY OF WISCONSIN–LACROSSE

Susan Brudvig, INDIANA UNIVERSITY EAST

Laura Buckner, MIDDLE TENNESSEE STATE UNIVERSITY

Tim Calkins, NORTHWESTERN UNIVERSITY

Barb Casey, DOWLING COLLEGE

Paul Clark, COASTAL CAROLINA UNIVERSITY

Bob Cline, UNIVERSITY OF IOWA

Cathy Cole, UNIVERSITY OF IOWA

Mark Collins, UNIVERSITY OF TENNESSEE–KNOXVILLE

David Conrad, AUGSBURG COLLEGE

Bob Cutler, CLEVELAND STATE UNIVERSITY

Geoffrey Da Silva, TEMASEK POLYTECHNIC

Lorie Darche, SOUTHWEST FLORIDA COLLEGE

Mahmoud Darrat, AUBURN MONTGOMERY UNIVERSITY

Patricia Daugherty, MICHIGAN STATE UNIVERSITY

Denver D’Rozario, HOWARD UNIVERSITY

F. Robert Dwyer, UNIVERSITY OF CINCINNATI

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Jacqueline K. Eastman, GEORGIA SOUTHERN UNIVERSITY

Michael Edwards, UNIVERSITY OF ST. THOMAS

Adel El-Ansary, UNIVERSITY OF NORTH FLORIDA

Maurice Elliard, ALBANY STATE UNIVERSITY

Alexander Ellinger, UNIVERSITY OF ALABAMA–TUSCALOOSA

Ken Fairweather, LETOURNEAU UNIVERSITY

Bagher Fardanesh, JOHNS HOPKINS UNIVERSITY

Richard L. Flight, EASTERN ILLINOIS UNIVERSITY

Andrew Forman, HOFSTRA UNIVERSITY

Fred Fusting, LOYOLA COLLEGE OF MARYLAND

Jule B. Gassenheimer, ROLLINS COLLEGE

Mahesh Gopinath, OLD DOMINION UNIVERSITY

Shiv Gupta, UNIVERSITY OF FINDLAY

Liz Hafer, UNIVERSITY OF COLORADO–BOULDER

Angela Hausman, UNIVERSITY OF NORTH CAROLINA AT PEMBROKE

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Jeffrey Heilbrunn, COLUMBIA COLLEGE OF MISSOURI

Chuck Hermans, MISSOURI STATE UNIVERSITY

Asep Hermawan, UNIVERSITAS TRISAKTI

Marjorie Carlson Hurst, MALONE UNIVERSITY

Mahmood Hussain, SAN FRANCISCO STATE UNIVERSITY

Donna Rue Jenkins, WARREN NATIONAL UNIVERSITY

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Johny Johansson, GEORGETOWN UNIVERSITY

Amit Joshi, UNIVERSITY OF CENTRAL FLORIDA

Fred Katz, JOHNS HOPKINS UNIVERSITY

Craig Kelley, CALIFORNIA STATE UNIVERSITY–SACRAMENTO

Anthony J. Khuri, BALDWIN WALLACE UNIVERSITY

Vishnu Kirpalani, CONCORDIA UNIVERSITY, MONTREAL, CANADA

Elias Konwufine, KEISER UNIVERSITY

Robert Kopp, BABSON COLLEGE

Kate Lawrence, CAMPBELL UNIVERSITY

Sangwon Lee, BALL STATE UNIVERSITY

Michael Levens, WALSH COLLEGE

Jason Little, FRANKLIN PIERCE UNIVERSITY

Cesar Maloles, CALIFORNIA STATE UNIVERSITY–EAST BAY

Avinash Malshe, UNIVERSITY OF ST. THOMAS

Susan Mantel, INDIANA UNIVERSITY–PURDUE UNIVERSITY– INDIANAPOLIS

Norton Marks, CALIFORNIA STATE UNIVERSITY–SAN BERNARDINO

Thomas Maronick, TOWSON UNIVERSITY

H. Lee Mathews, OHIO STATE UNIVERSITY

Melvin Mattson, RADFORD UNIVERSITY

Denny McCorkle, UNIVERSITY OF NORTHERN COLORADO

Timothy McMahon, CREIGHTON UNIVERSITY

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Michael Menasco, CALIFORNIA STATE UNIVERSITY–SAN BERNADINO

Morgan Miles, UNIVERSITY OF TASMANIA

Chad Milewicz, UNIVERSITY OF CENTRAL FLORIDA

Chip E. Miller, DRAKE UNIVERSITY

Herb Miller, UNIVERSITY OF TEXAS

Mark Mitchell, COASTAL CAROLINA UNIVERSITY

Thomas Noordewier, UNIVERSITY OF VERMONT

Nicholas Nugent, SOUTHERN NEW HAMPSHIRE UNIVERSITY

Carl Obermiller, SEATTLE UNIVERSITY

Azizah Omar, UNIVERSITI SAINS MALAYSIA

Barnett Parker, PFEIFFER UNIVERSITY

Vanessa Patrick, UNIVERSITY OF GEORGIA

Dennis Pitta, UNIVERSITY OF BALTIMORE

Jeffrey S. Podoshen, FRANKLIN AND MARSHALL COLLEGE

Abe Qastin, LAKELAND UNIVERSITY

Salim Qureshi, BLOOMSBURG UNIVERSITY

Lori Radulovich, BALDWIN WALLACE UNIVERSITY

Pushkala Raman, TEXAS WOMAN’S UNIVERSITY

K. Ramakrishna Rao, MULTIMEDIA UNIVERSITY

Molly Rapert, UNIVERSITY OF ARKANSAS–FAYETTEVILLE

Richard Rexeisen, UNIVERSITY OF ST. THOMAS

Subom Rhee, SANTA CLARA UNIVERSITY

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Robert Richey, UNIVERSITY OF ALABAMA–TUSCALOOSA

Torsten Ringberg, UNIVERSITY OF WISCONSIN–MILWAUKEE

Ann Root, FLORIDA ATLANTIC UNIVERSITY–BOCA RATON

Al Rosenbloom, DOMINICAN UNIVERSITY

Jason Ryan, CALIFORNIA STATE UNIVERSITY, SAN BERNARDINO

David Rylander, TEXAS WOMAN’S UNIVERSITY

Mahmod Sabri Haron, UNIVERSITI SAINS MALAYSIA

Dennis Sandler, PACE UNIVERSITY

Matt Sarkees, PENNSYLVANIA STATE UNIVERSITY

Linda Saytes, UNIVERSITY OF SAN FRANCISCO

Victoria Seitz, CALIFORNIA STATE UNIVERSITY, SAN BERNARDINO

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Shahid Sheikh, AMERICAN INTERCONTINENTAL UNIVERSITY

Kathy A. Skledar, LAKE ERIE COLLEGE

Susan Sieloff, NORTHEASTERN UNIVERSITY

Karen Smith, COLUMBIA SOUTHERN UNIVERSITY

Sharon Smith, DEPAUL UNIVERSITY

Jill Solomon, UNIVERSITY OF SOUTH FLORIDA

Ashish Sood, EMORY UNIVERSITY

Robert Spekman, UNIVERSITY OF VIRGINIA, DARDEN SCHOOL

James Spiers, ARIZONA STATE UNIVERSITY

Thomas Steenburgh, UNIVERSITY OF VIRGINIA, DARDEN SCHOOL

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Geoffrey Stewart, UNIVERSITY OF LOUISIANA–LAFAYETTE

Derik Steyn, CAMERON UNIVERSITY

John Stovall, GEORGIA SOUTHWESTERN STATE UNIVERSITY

Ziad Swaidan, UNIVERSITY OF HOUSTON AT VICTORIA

Michael Swenson, BRIGHAM YOUNG UNIVERSITY

Victoria Szerko, DOMINICAN COLLEGE

Leona Tam, OLD DOMINION UNIVERSITY

John L. Teopaco, EMERSON COLLEGE

Niwet Thamma, RAMKHAMHEANG UNIVERSITY

Meg Thams, REGIS UNIVERSITY

Rungting Tu, PEKING UNIVERSITY

Bronislaw Verhage, GEORGIA STATE UNIVERSITY

Jolivette Wallace, BELHAVEN UNIVERSITY

Guangping Wang, PENNSYLVANIA STATE UNIVERSITY

Cathy Waters, BOSTON COLLEGE

Art Weinstein, NOVA SOUTHEASTERN UNIVERSITY

Darin White, UNION UNIVERSITY–JACKSON

Ken Williamson, JAMES MADISON UNIVERSITY

Dale Wilson, MICHIGAN STATE UNIVERSITY

Walter Wochos, CARDINAL STRITCH UNIVERSITY

John Wesley Yoest, Jr, THE CATHOLIC UNIVERSITY OF AMERICA

Khanchitpol Yousapronpaiboon, KHONKHEN UNIVERSITY

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Zach Zacharia, LEHIGH UNIVERSITY

Jason Qiyu Zhang, LOYOLA UNIVERSITY MARYLAND

Yong Zhang, HOFSTRA UNIVERSITY

Shaoming Zou, UNIVERSITY OF MISSOURI–COLUMBIA

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BRIEF TABLE OF CONTENTS Preface

Part One Discover Marketing Management

CHAPTER 1 Marketing in Today’s Business Milieu

CHAPTER 2 Marketing Foundations: Global, Ethical, Sustainable

CHAPTER 3 Elements of Marketing Strategy, Planning, and Competition

Part Two Use Information to Drive Marketing Decisions

CHAPTER 4 Market Research Essentials

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CHAPTER 5 CRM, Big Data, and Marketing Analytics

CHAPTER 6 Understand Consumer and Business Markets

CHAPTER 7 Segmentation, Target Marketing, and Positioning

Part Three Develop the Value Offering—The Product Experience

CHAPTER 8 Product Strategy and New Product Development

CHAPTER 9 Build the Brand

CHAPTER 10 Service as the Core Offering

Part Four Price and Deliver the Value Offering

CHAPTER 11 Manage Pricing Decisions

CHAPTER 12

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Manage Marketing Channels, Logistics, and Supply Chain

Part Five Communicate the Val

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