Chapter Summary: In this first chapter, we lay the groundwork for our study of the field of marketing with a look at marketing’s key concepts and the important tasks marketers perform. Coverage includes a close examination of the definition of marketing. A dissection of the key terms in the definition will show that marketing’s primary …
Chapter Summary: In this chapter, we look at the importance of research in marketing. We explore what marketing research is and see why it is considered the foundation of marketing. Our examination includes a detailed look at the key methods marketers use to gather relevant information. Finally, we look at the trends shaping marketing research. …
Chapter Summary: In this chapter, we explore the techniques marketers use to manage customers. We begin by defining what a customer is and why they are important to an organization. We then look at what tools and strategies must be in place to manage customers skillfully, including the crucial requirement that marketers work hard to …
Chapter Summary: In this chapter, we look at how customers make purchase decisions. We begin with a discussion of customer needs and why understanding this is fundamental to understanding why customers make purchases. The perspective we take in this chapter is to touch on just the basic concepts that appear to be commonly accepted as …
Chapter Summary: In this chapter, we examine decisions affecting the selection of target markets. This is a critical point in marketing planning since all additional marketing decisions are going to be directed toward satisfying customers in the markets selected. We explore what constitutes a market and look at basic characteristics of consumer and business markets. …
Chapter Summary: In this chapter, we define what a product is and look at how products are categorized. We also take a close look at the key decisions marketers face as they formulate their product offerings. These decisions may involve what features to include in a product, how a product’s identity is established through branding, …
Chapter Summary: In this chapter, we extend the coverage of product decisions by exploring additional product issues facing the marketer. First, we look at how companies structure their product offerings and identify the scope of a marketing manager’s responsibilities within this structure. Second, we spend a large part of this chapter covering the importance of …
Chapter Summary: In this chapter, we cover the basics of distribution, including defining what channels of distribution are, examining the key functions and parties within a distribution system, and evaluating the role distribution serves within the overall marketing strategy. Also, we look at the major types of channel arrangements and the factors affecting the creation …
Chapter Summary: In this chapter, we begin our discussion of resellers by examining the role retailers serve in reselling a marketer’s products. We begin by setting out reasons why selecting resellers is an important decision that should not be taken lightly. We then turn our attention to a detailed look at retailing, which in terms …
Chapter Summary: In this chapter, we first examine another reselling group – wholesalers – and see how they come into play when a marketer attempts to reach the final customer. We show wholesalers exist in many formats, affect a wide range of industries, and offer different sets of features and benefits depending on the markets …
