Instruction Manual for MKTG 12th Edition by Charles Lamb ISBN 1337407595 9781337407595

1. An Overview of Marketing

1-1. What Is Marketing?

1-2. Marketing Management Philosophies

1-2a. Production Orientation

1-2b. Sales Orientation

1-2c. Market Orientation

1-2d. Societal Marketing Orientation

1-2e. Who Is in Charge?

1-3. Differences between Sales and Market Orientations

1-3a. The Organization’s Focus

1-3b. The Firm’s Business

1-3c. Those to Whom the Product Is Directed

1-3d. The Firm’s Primary Goal

1-3e. Tools the Organization Uses to Achieve Its Goals

1-3f. A Word of Caution

1-4. Why Study Marketing?

1-4a. Marketing Plays an Important Role in Society

1-4b. Marketing Is Important to Businesses

1-4c. Marketing Offers Outstanding Career Opportunities

1-4d. Marketing in Everyday Life

Key Terms

Learning Outcomes

2. Strategic Planning for Competitive Advantage

2-1. The Nature of Strategic Planning

2-2. Strategic Business units

2-3. Strategic Alternatives

2-3a. Ansoff’s Strategic Opportunity Matrix

2-3b. The Innovation Matrix

2-3c. The Boston Consulting Group Model

2-3d. The General Electric Model

2-3e. The Marketing Plan

2-3f. Why Write a Marketing Plan?

2-3g. Marketing Plan Elements

2-3h. Writing the Marketing Plan

2-4. Defining the Business Mission

2-5. Conducting a Situation Analysis

2-6. Competitive Advantage

2-6a. Cost Competitive Advantage

2-6b. Product/Service Differentiation Competitive Advantage

2-6c. Niche Competitive Advantage

2-6d. Building Sustainable Competitive Advantage

2-7. Setting Marketing Plan objectives

2-8. Describing the Target Market

2-8a. Target Market Strategy

2-9. The Marketing Mix

2-9a. Product Strategies

2-9b. Place (Distribution) Strategies

2-9c. Promotion Strategies

2-9d. Pricing Strategies

2-10. Following up on the Marketing Plan

2-10a. Implementation

2-10b. Evaluation and Control

2-10c. Post-Audit Tasks

2-11. Effective Strategic Planning

Key Terms

Learning Outcomes

3. Ethics and Social Responsibility

3-1. Determinants of a Civil Society

3-2. The Concept of Ethical Behavior

3-2a. Ethical Theories

3-3. Ethical Behavior in Business

3-3a. Morality and Business Ethics

3-3b. Ethical Decision Making

3-3c. Ethical Guidelines and Training

3-3d. Ethics in Other Countries

3-4. Corporate Social Responsibility

3-4a. Stakeholders and Social Responsibility

3-4b. Pyramid of Corporate Social Responsibility

3-5. Arguments for and against Social Responsibility

3-5a. Growth of Social Responsibility

3-5b. Becoming a B Corp

3-5c. Green Marketing

3-5d. Leaders in Social Responsibility

3-6. Cause-Related Marketing

Key Terms

Learning Outcomes

4. The Marketing Environment

4-1. The External Marketing Environment

4-1a. Understanding the External Environment

4-2. Social Factors

4-2a. American Values

4-2b. The Growth of Component Lifestyles

4-2c. How Social Media Have Changed Our Behavior

4-3. Demographic Factors

4-3a. Population

4-4. Growing Ethnic Markets

4-4a. Marketing to Hispanic Americans

4-4b. Marketing to African Americans

4-4c. Marketing to Asian Americans

4-5. Economic Factors

4-5a. Consumers’ Incomes

4-5b. Purchasing Power

4-5c. Inflation

4-5d. Recession

4-6. Technology and Innovation

4-6a. Research

4-6b. Stimulating Innovation

4-7. Political and Legal Factors

4-7a. Federal Legislation

4-7b. State and Local Laws

4-7c. Regulatory Agencies

4-7d. Consumer Privacy

4-8. Competitive Factors

4-8a. Competition for Market Share and Profits

4-8b. Global Competition

Key Terms

Learning Outcomes

5. Developing a Global Vision

5-1. Rewards of Global Marketing and the Shifting Global Business Landscape

5-1a. Importance of Global Marketing to the United States

5-2. Multinational Firms

5-2a. Are Multinationals Beneficial?

5-2b. Global Marketing Standardization

5-3. External Environment Faced by Global Marketers

5-3a. Culture

5-3b. Economic Factors

5-3c. The Global Economy

5-3d. Political Structure and Actions

5-3e. Demographic Makeup

5-3f. Natural Resources

5-4. Global Marketing by the Individual Firm

5-4a. Exporting

5-4b. Licensing and Franchising

5-4c. Contract Manufacturing

5-4d. Joint Venture

5-4e. Direct Investment

5-5. The Global Marketing Mix

5-5a. Product Decisions

5-5b. Promotion Adaptation

5-5c. Place (Distribution)

5-5d. Pricing

5-6. The Impact of the Internet

Key Terms

Learning Outcomes

6. Consumer Decision Making

6-1. The Importance of Understanding Consumer Behavior

6-2. The Traditional Consumer Decision-Making Process

6-2a. Need Recognition

6-2b. Information Search

6-2c. Evaluation of Alternatives and Purchase

6-3. Postpurchase Behavior

6-4. Types of Consumer Buying Decisions and Consumer Involvement

6-4a. Factors Determining the Level of Consumer Involvement

6-4b. Marketing Implications of Involvement

6-5. Reconceptualizing the Consumer Decision-Making Process

6-5a. The Consumer Decision Journey

6-5b. Factors Affecting Consumer Decision Making

6-6. Cultural Influences on Consumer Buying Decisions

6-6a. Culture and Values

6-6b. Subculture

6-6c. Social Class

6-7. Social Influences on Consumer Buying Decisions

6-7a. Reference Groups

6-7b. Opinion Leaders

6-7c. Family

6-7d. Individual Differences in Susceptibility to Social Influences

6-8. Individual Influences on Consumer Buying Decisions

6-8a. Gender

6-8b. Age and Family Life Cycle Stage

6-8c. Personality, Self-Concept, and Lifestyle

6-9. Psychological Influences on Consumer Buying Decisions

6-9a. Perception

6-9b. Motivation

6-9c. Learning

Key Terms

Learning Outcomes

7. Business Marketing

7-1. What Is Business Marketing?

7-2. Trends in B-to-B Internet Marketing

7-3. Relationship Marketing and Strategic Alliances

7-3a. Strategic Alliances

7-3b. Relationships in Other Cultures

7-4. Major Categories of Business Customers

7-4a. Producers

7-4b. Resellers

7-4c. Governments

7-4d. Institutions

7-5. The North American Industry Classification System

7-6. Business versus Consumer Markets

7-6a. Demand

7-6b. Purchase Volume

7-6c. Number of Customers

7-6d. Concentration of Customers

7-6e. Distribution Structure

7-6f. Nature of Buying

7-6g. Nature of Buying Influence

7-6h. Type of Negotiations

7-6i. Use of Reciprocity

7-6j. Use of Leasing

7-6k. Primary Promotional Method

7-7. Types of Business Products

7-7a. Major Equipment

7-7b. Accessory Equipment

7-7c. Raw Materials

7-7d. Component Parts

7-7e. Processed Materials

7-7f. Supplies

7-7g. Business Services

7-8. Business Buying Behavior

7-8a. Buying Centers

7-8b. Evaluative Criteria

7-8c. Buying Situations

7-8d. Business Ethics

7-8e. Customer Service

Key Terms

Learning Outcomes

8. Segmenting and Targeting Markets

8-1. Markets and Market Segments

8-2. The Importance of Market Segmentation

8-3. Criteria for Successful Segmentation

8-4. Bases for Segmenting Consumer Markets

8-4a. Geographic Segmentation

8-4b. Demographic Segmentation

8-4c. Psychographic Segmentation

8-4d. Benefit Segmentation

8-4e. Usage-Rate Segmentation

8-5. Bases for Segmenting Business Markets

8-5a. Company Characteristics

8-5b. Buying Processes

8-6. Steps in Segmenting a Market

8-7. Strategies for Selecting Target Markets

8-7a. Undifferentiated Targeting

8-7b. Concentrated Targeting

8-7c. Multisegment Targeting

8-8. CRM as a Targeting Tool

8-9. Positioning

8-9a. Perceptual Mapping

8-9b. Positioning Bases

8-9c. Repositioning

Key Terms

Learning Outcomes

9. Marketing Research

9-1. The Role of Marketing Research

9-1a. Management Uses of Marketing Research

9-1b. Understanding the Ever-Changing Marketplace

9-2. Steps in a Marketing Research Project

9-2a. Secondary Data

9-2b. Planning the Research Design and Gathering Primary Data

9-2c. Specifying the Sampling Procedures

9-2d. Collecting the Data

9-2e. Analyzing the Data

9-2f. Preparing and Presenting the Report

9-2g. Following Up

9-3. The Profound Impact of the Internet on Marketing Research

9-3a. Advantages of Internet Surveys

9-3b. Uses of the Internet by Marketing Researchers

9-4. The Growing Importance of Mobile Research

9-5. Scanner-Based Research

9-6. When Should Marketing Research Be Conducted?

9-6a. Customer Relationship Management

9-7. Competitive Intelligence

Key Terms

Learning Outcomes

10. Product Concepts

10-1. What Is a Product?

10-2. Types of Consumer Products

10-2a. Convenience Products

10-2b. Shopping Products

10-2c. Specialty Products

10-2d. Unsought Products

10-3. Product Items, Lines, and Mixes

10-3a. Adjustments to Product Items, Lines, and Mixes

10-4. Branding

10-4a. Benefits of Branding

10-4b. Branding Strategies

10-4c. Trademarks

10-5. Packaging

10-5a. Packaging Functions

10-5b. Labeling

10-5c. Universal Product Codes

10-6. Global Issues in Branding and Packaging

10-7. Product Warranties

Key Terms

Learning Outcomes

11. Developing and Managing Products

11-1. The Importance of New Products

11-1a. Introduction of New Products

11-1b. Categories of New Products

11-2. The New-Product Development Process

11-2a. New-Product Strategy

11-2b. Idea Generation

11-2c. Idea Screening

11-2d. Business Analysis

11-2e. Development

11-2f. Test Marketing

11-2g. Commercialization

11-3. Why Some Products Succeed and Others Fail

11-4. Global Issues in New-Product Development

11-5. The Spread of New Products

11-5a. Diffusion of Innovation

11-5b. Product Characteristics and the Rate of Adoption

11-5c. Marketing Implications of the Adoption Process

11-6. Product Life Cycles

11-6a. Introductory Stage

11-6b. Growth Stage

11-6c. Maturity Stage

11-6d. Decline Stage

11-6e. Implications for Marketing Management

Key Terms

Learning Outcomes

12. Services and Nonprofit Organization Marketing

12-1. The Importance of Services

12-2. How Services Differ from Goods

12-2a. Intangibility

12-2b. Inseparability

12-2c. Heterogeneity

12-2d. Perishability

12-3. Service Quality

12-3a. Evaluating Service Quality

12-3b. The Gap Model of Service Quality

12-4. Marketing Mixes for Services

12-4a. Product (Service) Strategy

12-4b. Place (Distribution) Strategy

12-4c. Promotion Strategy

12-4d. Price Strategy

12-5. Relationship Marketing in Services

12-6. Internal Marketing in Service Firms

12-7. Nonprofit Organization Marketing

12-7a. What Is Nonprofit Organization Marketing?

12-7b. Unique Aspects of Nonprofit Organization Marketing Strategies

12-8. Global Issues in Services Marketing

Key Terms

Learning Outcomes

13. Supply Chain Management and Marketing Channels

13-1. Supply Chains and Supply Chain Management

13-1a. Benefits of Effective Supply Chain Management

13-2. Supply Chain Integration

13-3. The Key Processes of Supply Chain Management

13-3a. Customer Relationship Management

13-3b. Customer Service Management

13-3c. Demand Management

13-3d. Order Fulfillment

13-3e. Manufacturing Flow Management

13-3f. Supplier Relationship Management

13-3g. Product Development and Commercialization

13-3h. Returns Management

13-4. Sustainable Supply Chain Management

13-5. Trends in Supply Chain Management

13-5a. Outsourcing Logistics Functions

13-5b. Public-Private Partnerships

13-5c. Electronic Distribution

13-5d. Global Supply Chain Management

13-5e. Supply Chain Analytics and Technology

13-6. Marketing Channels and Channel Intermediaries

13-6a. How Marketing Channels Work

13-6b. Functions and Activities of Channel Intermediaries

13-6c. Channel Functions Performed by Intermediaries

13-7. Channel Structures

13-7a. Channels for Business and Industrial Products

13-7b. Alternative Channel Arrangements

13-7c. Digital Channels

13-7d. Factors Affecting Channel Choice

13-7e. Levels of Distribution Intensity

13-8. Omnichannel versus Multichannel Marketing

Key Terms

Learning Outcomes

14. Retailing

14-1. The Importance of Retailing

14-2. Types of Retailers and Retail Operations

14-2a. Ownership Arrangement

14-2b. Level of Service

14-2c. Product Assortment

14-2d. Price

14-2e. Types of In-Store Retailers

14-3. The Rise of Nonstore Retailing

14-4. Retail Operations Models

14-5. Executing a Retail Marketing Strategy

14-5a. Defining a Target Market

14-5b. Choosing the Retailing Mix

14-6. Retailing Decisions for Services

14-7. Addressing Retail Product/Service Failures

14-8. Retailer and Retail Customer Trends and Advancements

14-8a. Shopper Marketing and Analytics

14-8b. Future Developments in Retail Management

Key Terms

Learning Outcomes

15. Marketing Communications

15-1. The Role of Promotion in the Marketing Mix

15-2. Marketing Communication

15-2a. Interpersonal Communication

15-2b. Mass Communication

15-2c. The Communication Process

15-3. The Goals of Promotion

15-3a. Informing

15-3b. Persuading

15-3c. Reminding

15-3d. Connecting

15-4. The Promotional Mix

15-4a. Advertising

15-4b. Public Relations

15-4c. Sales Promotion

15-4d. Personal Selling

15-4e. Content Marketing and Social Media

15-4f. The Communication Process and the Promotional Mix

15-5. Promotional Goals and the AIDA Concept

15-5a. The AIDA Model

15-5b. AIDA and the Promotional Mix

15-6. Integrated Marketing Communications

15-7. Factors Affecting the Promotional Mix

15-7a. Nature of the Product

15-7b. Stages in the Product Life Cycle

15-7c. Target Market Characteristics

15-7d. Type of Buying Decision

15-7e. Available Funds

15-7f. Push and Pull Strategies

Key Terms

Learning Outcomes

16. Advertising, Public Relations, and Sales Promotion

16-1. The Effects of Advertising

16-1a. Advertising and Market Share

16-1b. The Effects of Advertising on Consumers

16-2. Major Types of Advertising

16-2a. Institutional Advertising

16-2b. Product Advertising

16-3. Creative Decisions in Advertising

16-3a. Identifying Product Benefits

16-3b. Developing and Evaluating Advertising Appeals

16-3c. Executing the Message

16-3d. Post-Campaign Evaluation

16-4. Media Decisions in Advertising

16-4a. Media Types

16-4b. Media Selection Considerations

16-4c. Media Scheduling

16-5. Public Relations

16-5a. Major Public Relations Tools

16-5b. Managing Unfavorable Publicity

16-6. Sales Promotion

16-6a. Tools for Trade Sales Promotion

16-6b. Tools for Consumer Sales Promotion

16-6c. Trends in Sales Promotion

Key Terms

Learning Outcomes

17. Personal Selling and Sales Management

17-1. The Sales Environment

17-2. Personal Selling

17-3. Relationship Selling

17-4. Steps in the Selling Process

17-4a. Step 1: Generating Leads

17-4b. Step 2: Qualifying Leads

17-4c. Step 3: Approaching the Customer and Probing Needs

17-4d. Step 4: Developing and Proposing Solutions

17-4e. Step 5: Handling Objections

17-4f. Step 6: Closing the Sale

17-4g. Step 7: Following up

17-4h. The Impact of Technology on Personal Selling

17-5. Sales Management

17-5a. Defining Sales Goals and the Sales Process

17-5b. Determining the Sales Force Structure

17-5c. Recruiting and Training the Sales Force

17-5d. Compensating and Motivating the Sales Force

17-5e. Evaluating the Sales Force

17-6. Customer Relationship Management and the Sales Process

17-6a. Identify Customer Relationships

17-6b. Understand Interactions of the Current Customer Base

17-6c. Capture Customer Data

17-6d. Leverage Customer Information

Key Terms

Learning Outcomes

18. Social Media and Marketing

18-1. What Are Social Media?

18-1a. How Consumers Use Social Media

18-1b. Social Media and Integrated Marketing Communications

18-2. Creating and Leveraging a Social Media Campaign

18-2a. The Listening System

18-2b. Social Media Objectives

18-3. Evaluation and Measurement of Social Media

18-4. Social Behavior of Consumers

18-5. Social Media Tools: Consumer- and Corporate-Generated Content

18-5a. Blogs

18-5b. Microblogs

18-5c. Social Networks

18-5d. Media Sharing Sites

18-5e. Social News Sites

18-5f. Location-Based Social Networking Sites

18-5g. Review Sites

18-5h. Virtual Worlds and Online Gaming

18-6. Social Media and Mobile Technology

18-6a. Mobile and Smartphone Technology

18-6b. Apps and Widgets

18-7. The Social Media Plan

18-7a. The Changing World of Social Media

Key Terms

Learning Outcomes

19. Pricing Concepts

19-1. The Importance of Price

19-1a. What Is Price?

19-1b. The Importance of Price to Marketing Managers

19-2. Pricing Objectives

19-2a. Profit-Oriented Pricing Objectives

19-2b. Sales-Oriented Pricing Objectives

19-2c. Status Quo Pricing Objectives

19-3. The Demand Determinant of Price

19-3a. The Nature of Demand

19-3b. Elasticity of Demand

19-4. The Power of Dynamic Pricing and Yield Management Systems

19-5. The Cost Determinant of Price

19-5a. Markup Pricing

19-5b. Break-Even Pricing

19-6. Other Determinants of Price

19-6a. Stages in the Product Life Cycle

19-6b. Competition, Price Matching, and Customer Loyalty

19-6c. Distribution Strategy

19-6d. The Impact of the Internet and Extranets

19-6e. Promotion Strategy

19-6f. Price Transparency

19-6g. Demands of Large Customers

19-6h. The Relationship of Price to Quality

19-7. How to Set a Price on a Product

19-7a. Establish Pricing Goals

19-7b. Estimate Demand, Costs, and Profits

19-7c. Choose a Price Strategy

19-8. The Legality of Price Strategy

19-8a. Unfair Trade Practices

19-8b. Price Fixing

19-8c. Price Discrimination

19-8d. Predatory Pricing

19-9. Tactics for Fine-Tuning the Base Price

19-9a. Discounts, Allowances, Rebates, and Value-Based Pricing

19-9b. Geographic Pricing

19-9c. Other Pricing Tactics

19-9d. Consumer Penalties

Key Terms

Learning Outcomes

Marketing Analytics

M-1. Using Data to Optimize Marketing Decisions

M-2. Better Data Can Lead to Better Decisions

M-2a. Collecting the Data

M-2b. Organizing the Data

M-2c. Analyzing the Data

M-3. What Gets Measured Gets Managed

M-3a. The Primary Categories of Data

M-4. Using Marketing Analytics to Develop and Manage Products

M-4a. Developing Products Using Advanced Customer Segmentation

M-4b. Developing Products Using Pattern Recognition

M-4c. Developing Products Using Predictive Modeling

M-5. Using Analytics to Optimize Promotional Efforts

M-5a. Improved Merchandising

M-5b. Personalized Recommendations

M-5c. Precise Audience Targeting

M-5d. Return on Marketing Investment

M-6. Maximizing Customer Lifetime Value

M-6a. Increasing CLV by Maximizing Engagement

M-6b. Increasing CLV by Customizing Rewards

M-6c. Increasing CLV by Improving Efficiency

M-7. Concerns Related to Big Data

M-7a. Intrusive Methods of Data Collection

M-7b. Lack of Transparency About Data Sharing

Module Summary

Key Terms