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Contents | vii
Targeting Explained 136 Interior Views LLC Measurement and Controls 157
Targeting Applied 136 Marketing Plan 158
Targeting 136
Visual Summary 159
Undifferentiated Marketing 137
Undifferentiated Marketing 137 PART 4 Managing 162
Differentiated Marketing 137
Differentiated Marketing 137
Product Life Cycle and Marketing Strategies 172 Channel Strategies Applied 199
Duration of the Product Life Cycle 172 Channel Structure 199
Limitations of the Product Life Cycle 173 Channel Organization 200
Visual Summary 174 Channel Management 200
Channel Strategies 201
Chapter 13 | Pricing Strategies..............178 Logistics 202
Chapter Outline 178 Logistics Explained 202
Logistics Applied 202
Establishing Prices 179
Logistics Systems 203
Establishing Prices Explained 179
Establishing Prices Applied 179 Physical Distribution 204
Market Structure 180 Physical Distribution Explained 204
Cost-Based Pricing 180 Physical Distribution Applied 204
Cost-Based Pricing 182 Transportation 204
Demand and Price Elasticity 182 Warehousing 205
Michael Levens
1
chapter
Part 1 Explaining (Chapters 1, 2, 3, 4, 5) Part 4 Managing (Chapters 12, 13, 14, 15, 16, 17)
Part 2 Creating (Chapters 6, 7, 8, 9) Part 5 Integrating (Chapters 18, 19, 20)
Part 3 Strategizing (Chapters 10, 11)
Chapter Outline
Marketing pp. 3–4 Objective 1. What is marketing?
Marketing Concept pp. 5–8 Objective 2. What is the marketing concept? How has
marketing changed?
• Evolution of Marketing: Early Years Until 1950
p. 6
• Evolution of Marketing: 1950–Present pp. 6–7
• Evolution of Marketing: Social
Responsibility pp. 7–8
Marketing Functions pp. 9–10 Objective 3. What are marketing functions? Who
performs them?
• Internal Marketing Participants p. 9
• External Marketing Participants pp. 9–10
2
CHAPTER 1 | The Meaning of Marketing 3
EXPLAINED The brand can contrast the products or services of one company
with the products or services of another company and, through
Marketing effective marketing, command a perception of greater value that
Marketing is a distinct activity within an organization, generally can lead to higher sales revenue and profits.
referred to as the marketing department. Marketing is also a set
of tasks, such as assembling, pricing, and promoting, which may APPLIED
or may not be performed by the marketing department, that re-
sult in products, services, ideas, and other tangible and intangi- Marketing
ble items. Those items, in turn, produce profits or achieve some
In practice, marketing is much more than simply selling or ad-
other stated goals for an organization and its stakeholders, in-
vertising. Marketing influences you as a consumer through your
cluding shareholders, employees, or donors. Profits or other or-
current and future career choices, and through the economy.
ganizational goals are achieved by creating value for consumers.
Businesses create value through their offerings, communicate
The creation of value is the realization of benefits that are at
that value to consumers, and then deliver value in exchange for
parity or that exceed the cost of products, services, or other
money from consumers. Marketing applies to more than just
items. Customers, such as students, parents, professors, and the
products or services, however. Marketing extends to a variety of
rest of society, search for value on a daily basis when making
tangible and intangible items, including the following:
purchase decisions.
Marketing has grown from roots in economics, psychology, • Products
sociology, and statistics. One important concept that marketing • Services
has borrowed from the study of economics is the idea of utility. • People
Utility is the satisfaction received from owning or consuming a • Places
product or service. Utility, in a marketing sense, is the value that • Causes
consumers attach to that marketer’s products or services. Supply • Events
and demand for products and services influence price, produc- • Ideas
tion costs influence supply, and utility influences demand. The
utility that consumers attached to BMW products, and the sub-
sequent increase in demand, influenced the German automaker
to add U.S.-based production in Spartanburg, South Carolina, Facebook is a social net-
in 1994 and to greatly expand the manufacturing facility in working utility created in
2006. Over 1.5 million BMWs have been produced in the 2004. Currently, Facebook has about 500 million users around the
automaker’s first plant outside of Germany. Consumers are the world and allows contacts with friends and colleagues to communi-
ultimate adjudicators of utility. If consumers perceive that a par- cate and share photos, videos, and other links. People register with an
ticular product or service has utility, then they are inclined to e-mail address and join one or more networks based on companies,
consider purchasing that product or service. schools, or regions. In addition to allowing people to connect with
A need is a necessity to meet an urgent requirement. A want each other, the site also has evolved as a marketing tool for individuals
is a desire for something that is not essential. For instance, a per- and businesses. The Facebook platform allows the hosting of events,
son has a need for food, but a person simply wants ice cream. such as the 2008 Presidential debates in partnership with ABC News,
There are strict definitions for wants and needs. However, busi- and also allows advertisements to be placed on networks. Target en-
nesses often use marketing to transform a want into a perceived joyed considerable success through its involvement with Facebook.
need for a particular product or service. Businesses can increase Target took its hip image to Facebook by sponsoring a page identified
demand, the financial capacity to buy what a person wants, for as the “Dorm Survival Guide.” Target made considerable preparation
that business’s brand of products or services through marketing for the page, including an effort to understand how users interact on
activities such as advertising. A brand is a promise to deliver to Facebook. Based on that insight, discussion groups, decorating tips,
consumers specific benefits associated with products or services. and pictures of dorm rooms complemented the product information.
4 PART 1 | Explaining
Target’s initial campaign registered over 27,000 users and helped Products include items often used or consumed for personal
increase sales over 6% from the previous year. Target has continued to use, such as shavers or ice cream, and items that are consumed
partner with Facebook in social media activities. The Target Rounders by businesses or used to produce items that are resold, such as
program uses college-age students to promote the company on raw materials or components. Services include items that are
Facebook in return for discounts and incentives.2 used and not retained by the consumer, for example, a massage
PHOTO: Lenscap/Alamy Image. or a haircut, and items that are used and not retained by busi-
nesses, such as repair or maintenance services.
Beyond products and services, many other items can also be
marketed. People such as celebrities, athletes, and politicians are
EXAMPLE MARKETING engaged in marketing themselves and building their own brands.
Similarly, as you build your career, you will constantly be market-
ing yourself to others. Places, from London to New York, can also
be marketed. Place marketing can be designed to accomplish one
of a wide variety of objectives, such as introducing potential visi-
tors to a place with which they may not be familiar, reinventing a
location to stand for something different from what it is currently
known as, or encouraging more frequent visits. Causes, including
many not-for-profit organizations such as the Humane Society,
museums, and art institutes, are also marketed to potential donors
and to those who may use the services of the not-for-profit. Events,
such as the Olympics, the Super Bowl, and the World Cup, market
themselves, but also serve as marketing platforms for other busi-
nesses. Ideas, such as anti-littering campaigns and political views,
as well as concepts and messages, are also marketed.
APPLIED
Marketing Concept Missouri began an advertising campaign in 2008 with its central
Although generally considered a contemporary idea, the market- message: “Close to home. Far from ordinary.” This message is de-
ing concept has been used for many years, in practice, if not in signed to attract visitors from nearby states. The idea is that visitors
name, by businesses trying to distinguish themselves from their will drive to Missouri and experience the wide range of activities avail-
competition by focusing on the customer. L.L.Bean founded its able. The message concentrates on the actual experience of travel,
business in 1912 by referring to the customer as “ . . . the most and not simply the destination. Practicing the marketing concept,
important person ever in this office—in person or by mail.” this advertising has targeted specific groups of individuals, including
L.L.Bean developed a marketing philosophy based on customer families, young women, and baby boomers. By targeting certain
service and marketed a guarantee to provide “ . . . perfect satis- groups, Missouri can create tailored messages that in turn create ad-
faction in every way.”4 Currently, many businesses, as well as ditional value that surpasses the value that might be obtained by
churches, schools, and state and local tourism entities, practice communicating a broader message to the entire population.
6 PART 1 | Explaining
EXAMPLE EVOLUTION OF MARKETING: 1950–PRESENT to employers is designed to address specific needs in automotive,
contact center, education, electronic assembly, engineering, finance
and accounting, health care, information technology, legal, light indus-
trial, marketing, office, scientific, and security clearance. Kelly’s con-
sulting and outsourcing activity uses the advertising message “If it’s
outside your scope, it’s probably within ours.” Value is created for
business clients by offering expertise in specific employment fields.
PHOTO: © 2008 Kelly Services, Inc.
The government primarily influences marketing through legis- When people think of marketing research, they tend to think of
lation or regulation. Partners, other businesses or organizations receiving phone calls during dinner and being stopped at shop-
that already work with or may work with a particular business, in- ping malls to complete surveys. In fact, the marketing research
fluence marketing choices by presenting opportunities to reach field is far more complex. Gongos Research is a custom market-
more consumers or to share in the cost of marketing activities. ing research company that has enjoyed rapid growth through
Competitors also influence marketing actions by their advertising the use of technology and innovation such as i˚Communities and
investment and product launches. Thus, there are many marketing metaCommunities. These are private online communities of indi-
stakeholders, and their collective efforts will ultimately define the viduals who have chosen to become active in the communities’
level of success a business will realize in their marketing practices. social aspects (such as creating their own discussion groups)
and business aspects (such as completing surveys), and are
EXAMPLE EXTERNAL MARKETING PARTICIPANTS compensated for their involvement. Gongos Research assists a
wide range of businesses in many different business sectors,
including financial services, automotive, powersports, and
consumer products.
PHOTO: Courtesy of Gongos Research, Inc.
APPLIED
Marketing Functions
In practice, some businesses view marketing from a limited
perspective by considering it synonymous to sales or advertis-
ing. Other businesses understand that marketing performs a
broad range of functions, ranging from securing products to
servicing products after a sale, and that the marketing activity
is connected to all other business functions. Successful busi-
nesses generally consider marketing departments as the link
between customers and businesses. Marketing departments
are in a unique position to identify and communicate
customer requirements to other departments within an or-
ganization, such as finance, accounting, manufacturing, and
business planning.
CHAPTER 1 | The Meaning of Marketing 11
Visual Summary
Part 1 Explaining (Chapters 1, 2, 3, 4, 5) Part 4 Managing (Chapters 12, 13, 14, 15, 16, 17)
Part 2 Creating (Chapters 6, 7, 8, 9) Part 5 Integrating (Chapters 18, 19, 20)
Part 3 Strategizing (Chapters 10, 11)
Chapter 1 Summary
Building on the idea that everyone has some experience with marketing, the concept of
marketing and marketing functions was developed and expanded. Marketing involves the
creation of value that results in effective customer relationships. Marketing is used for a
variety of tangible and intangible items, including the following:
• Products
• Services
• People
• Places
• Causes
• Events
• Ideas
Marketing functions are the tasks that are applied to the various items that can be
marketed. Marketing functions can be grouped into three general categories:
• Exchange functions
• Physical functions
• Facilitating functions
A variety of marketing stakeholders either utilize or contribute to marketing activities:
• Marketing department
• Other business departments
• Business leadership/board of directors
• Investors
• Consumers/customers
• Advertising/PR agency
• Information providers/marketing research companies
• Government
• Partners
• Competitors
Marketing is
about creating value
Capstone
Exercise p. 13
value
Marketing
Functions pp. 9–10
philosophy activities
The marketing concept Marketing functions are
Marketing is an organizational activities that facilitate,
philosophy built on promote, or enable transfer of
Concept pp. 5–8 customer lifetime value. ownership and flow of goods
from manufacturer to consumer.
12 PART 1 | Explaining
*****
3.
"Jokamies."
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Ruotsalaisen teatterin näyttämöasussa oli noudatettu
samantapaisia suunnitteluprinsiippejä kuin esim. Ranskan kuuluisain
näyttelijäveljesten (Laconfrérie dela Passion) mysterioesityksissä
1400-luvun alkupuolella: Helvetti alinna ja katsojia lähinnä,
varsinainen näyttämölattia maana, korkeammalla taustassa Paratiisi,
johon johtivat valtavat portaat. Oli käytetty kosolta kultaa ja heleitä
värejä — runsaasti taivaansinistä —; se oli omiaan alleviivaamaan
näytelmän keskiaikaiskatoolista sävyä ja likeistä sukulaisuutta
liturgiasta lähteneelle mysteriolie. Koristeiden gotiikka ja
katedraalimaiset ääriviivat väkevöittivät osaltaan tätä tunnelmaa.
Varmalla taidehistoriallisella silmällä oli — mikäli väitetään, lähinnä
Köpenhaminan mallin mukaan — näyttämökehys sommiteltu. Siinä
oli kaikki pienimpiä yksityiskohtia myöten sopusuhtaista ja
huoliteltua. Erittäin ovat mainittavat vaikuttavat ja täsmälliset
valonvaihtelut sekä pukujen varmaa väriaistia todistava sommittelu.
1.
Todellisuus ja taide.
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*****
2.
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