Marketing Management A Strategic Decision Making Approach 8th Edition by John Mullins,Orville Walker ISBN 0078028795 978-0078028793

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ISBN 10: 0078028795
ISBN 13: 978-0078028793
Author: John Mullins,Orville C. Walker 

The eighth edition of Marketing Management: A Strategic Decision-Making Approach, concentrates on marketing decision-making, rather than mere description of marketing phenomena. By providing specific tools and decision frameworks, it prepares its readers to hit the ground running and contribute tangibly to the marketing efforts of firms large and small.

Drawing on its authors’ wealth of entrepreneurial and executive experience, along with their thought-leading research, the book provides an abundance of real-life examples of marketing decisions – both good and not-so-good – from around the world in companies ranging from entrepreneurial start-ups to multi-national giants.

This edition continues to be the most current and internet-savvy book available, injecting the latest developments in internet-based communication and distribution technology into every chapter.

Marketing Management A Strategic Decision Making Approach 8th Table of contents:

CHAPTER ONE The Marketing Management Process

Samsung—Building a Global Brand

New Competitive and Marketing Strategies

The Results

Marketing Challenges Addressed in Chapter 1

Why Are Marketing Decisions Important?

The Importance of the Top Line

Marketing Creates Value by Facilitating Exchange Relationships

What Factors Are Necessary for a Successful Exchange Relationship?

1. Who Markets and Who Buys? The Parties in an Exchange

2. Customer Needs and Wants

3. What Gets Exchanged? Products and Services

4. How Exchanges Create Value

5. Defining a Market

What Does Effective Marketing Practice Look Like?

Marketing Management—A Definition

Integrating Marketing Plans with the Company’s Strategies and Resources

Market Opportunity Analysis

Formulating Strategic Marketing Programs

Formulating Strategic Marketing Programs for Specific Situations

Implementation and Control of the Marketing Program

The Marketing Plan—A Blueprint for Action

Who Does What?

Marketing Institutions

Who Pays the Cost of Marketing Activities—And Are They Worth It?

Room for Improvement in Marketing Efficiency

The Role of the Marketing Decision Maker

Some Recent Developments Affecting Marketing Management

Globalization

Increased Importance of Service

Information Technology

Relationships across Functions and Firms

Take-aways

Endnotes

CHAPTER TWO The Marketing Implications of Corporate and Business Strategies

IBM Switches Strategies

Technology Changes and Competitor Actions Require a Shift in Strategy

A New Corporate Strategy

New Business and Marketing Strategies

The Bottom Line

Marketing Challenges Addressed in Chapter 2

What Is Marketing’s Role in Formulating and Implementing Strategies?

Market-Oriented Management

Does Being Market-Oriented Pay?

Factors That Mediate Marketing’s Strategic Role

Three Levels of Strategy: Similar Components, but Different Issues

Strategy: A Definition

The Components of Strategy

The Hierarchy of Strategies

Corporate Strategy

Business-Level Strategy

Marketing Strategy

The Marketing Implications of Corporate Strategy Decisions

Corporate Scope—Defining the Firm’s Mission

Corporate Objectives

Corporate Sources of Competitive Advantage

Corporate Growth Strategies

Allocating Corporate Resources

Limitations of the Growth-Share Matrix

Sources of Synergy

The Marketing Implications of Business-Unit Strategy Decisions

How Should Strategic Business Units Be Designed?

The Business Unit’s Objectives

The Business Unit’s Competitive Strategy

Take-aways

Endnotes

SECTION TWO MARKET OPPORTUNITY ANALYSIS

CHAPTER THREE Understanding Market Opportunities

The Cellular Telephone Business: Increasing Competition in a Growing Market

The Mobile Telephony Market

Cell Phone Manufacturing

Cell Phone Service Providers

Network Equipment Down, Too

Marketing Challenges Addressed in Chapter 3

Markets and Industries: What’s the Difference?

Assessing Market and Industry Attractiveness

Macro Trend Analysis: A Framework for Assessing Market Attractiveness, Macro Level

The Demographic Environment

The Sociocultural Environment

The Economic Environment

The Regulatory Environment

The Technological Environment

The Natural Environment

Your Market Is Attractive: What about Your Industry?

Porter’s Five Competitive Forces

A Five Forces Analysis of the Cellular Phone Service Industry

Challenges in Macro-Level Market and Industry Analysis

Information Sources for Macro-Level Analyses

Understanding Markets at the Micro Level

Understanding Industries at the Micro Level

The Team Domains: The Key to the Pursuit of Attractive Opportunities

Mission, Aspirations, and Risk Propensity

Ability to Execute on the Industry’s Critical Success Factors

It’s Who You Know, Not What You Know

Putting the Seven Domains to Work

Anticipating and Responding to Environmental Change

Impact and Timing of Event

Swimming Upstream or Downstream: An Important Strategic Choice

Take-aways

Endnotes

CHAPTER FOUR Understanding Consumer Buying Behavior

Cruise Ships—Not Just for Grandma and Grandpa Anymore

Savvy Marketing Helped Fuel Industry Growth

Future Challenges

Marketing Challenges Addressed in Chapter 4

The Psychological Importance of the Purchase Affects the Decision-Making Process

How Do Consumers Make High-Involvement Purchase Decisions?

Low-Involvement Purchase Decisions

Understanding the Target Consumer’s Level of Involvement Enables Better Marketing Decisions

Why People Buy Different Things: Part 1—The Marketing Implications of Psychological and Personal I

Perception and Memory

Needs and Attitudes

Demographics, Personality, and Lifestyle

Why People Buy Different Things: Part 2—The Marketing Implications of Social Influences

Culture

Social Class

Reference Groups

The Family

Take-aways

Endnotes

CHAPTER FIVE Understanding Organizational Markets and Buying Behavior

DHL Supply Chain: Building Long-Term Relationships with Organizational Buyers

Building Long-Term Relationships with Customers

Long-Term Relationships Enhance Long-Term Performance

Marketing Challenges Addressed in Chapter 5

Who Is the Customer?

A Comparison of Organizational versus Consumer Markets

What Do the Unique Characteristics of Organizational Markets Imply for Marketing Programs?

The Organizational Customer Is Usually a Group of Individuals

How Organizational Members Make Purchase Decisions

Types of Buying Situations

The Purchase Decision-Making Process

The Marketing Implications of Different Organizational Purchasing Situations

Purchasing Processes in Government Markets

Selling Different Kinds of Goods and Services to Organizations Requires Different Marketing Programs

Raw Materials

Component Materials and Parts

Installations

Accessory Equipment

Operating Supplies

Business Services

Take-aways

Endnotes

CHAPTER SIX Measuring Market Opportunities: Forecasting and Market Knowledge

Intel’s Secret Weapon

Bell’s Charter at Intel

How Do Anthropology and Ethnography Work?

What Is Bell Learning about Generation X?

Can Bell’s Work Make a Difference?

Marketing Challenges Addressed in Chapter 6

Every Forecast Is Wrong!

A Forecaster’s Tool Kit: A Tool for Every Forecasting Setting

Statistical and Other Quantitative Methods

Observation

Surveys or Focus Groups

Analogy

Judgment

Market Tests

Psychological Biases in Forecasting

Mathematics Entailed in Forecasting

Rate of Diffusion of Innovations: Another Perspective on Forecasting

The Adoption Process and Rate of Adoption

Adopter Categories

Implications of Diffusion of Innovation Theory for Forecasting Sales of New Products and New Firms

Cautions and Caveats in Forecasting

Keys to Good Forecasting

Common Sources of Error in Forecasting

Why Data? Why Marketing Research?

Customer Relationship Management: Charting a Path toward Competitive Advantage

Internal Records Systems

Marketing Databases Make CRM Possible

Why CRM Efforts Fail

Client Contact Systems

Competitive Intelligence Systems

Marketing Research: A Foundation for Marketing Decision Making

Step 1: Identify the Managerial Problem and Establish Research Objectives

Step 2: Determine the Data Sources and Types of Data Required

Step 3: Design the Research

Step 4: Collect the Data

Step 5: Analyze the Data

Step 6: Report the Results to the Decision Maker

What Users of Marketing Research Should Ask

Rudimentary Competence: Are We There Yet?

Take-aways

Endnotes

CHAPTER SEVEN Targeting Attractive Market Segments

The Developing World’s Emerging Middle Class

The New Middle Class: Who and How Large?

Targeting India’s New Middle Class

Targeting: One Ingredient in Marketing Success

Marketing Challenges Addressed in Chapter 7

Do Market Segmentation and Target Marketing Make Sense in Today’s Global Economy?

Most Markets Are Heterogeneous

Today’s Market Realities Often Make Segmentation Imperative

How Are Market Segments Best Defined?

Who They Are: Segmenting Demographically

Where They Are: Segmenting Geographically

Geodemographic Segmentation

How They Behave: Behavioral Segmentation

Innovative Segmentation: A Key to Marketing Breakthroughs

Choosing Attractive Market Segments: A Five-Step Process

Step 1: Select Market-Attractiveness and Competitive-Position Factors

Step 2: Weight Each Factor

Step 3: Rate Segments on Each Factor, Plot Results on Matrices

Step 4: Project Future Position for Each Segment

Step 5: Choose Segments to Target, Allocate Resources

Different Targeting Strategies Suit Different Opportunities

Niche-Market Strategy

Mass-Market Strategy

Growth-Market Strategy

Global Market Segmentation

Take-aways

Endnotes

CHAPTER EIGHT Differentiation and Brand Positioning

Fast Food Turns Healthy

The Jared Diet

Repositioning Fuels Subway’s Growth

Value: A Second Dimension to Subway’s Positioning

Marketing Challenges Addressed in Chapter 8

Differentiation: One Key to Customer Preference and Competitive Advantage

Differentiation among Competing Brands

Physical Positioning

Limitations of Physical Positioning

Perceptual Positioning

Levers Marketers Can Use to Establish Brand Positioning

Preparing the Foundation for Marketing Strategies: The Brand Positioning Process

Step 1: Identify a Relevant Set of Competitive Products

Step 2: Identify Determinant Attributes

Step 3: Collect Data about Customers’ Perceptions for Brands in the Competitive Set

Step 4: Analyze the Current Positions of Brands in the Competitive Set

Step 5: Determine Customers’ Most Preferred Combination of Attributes

Step 6: Consider Fit of Possible Positions with Customer Needs and Segment Attractiveness

Step 7: Write Positioning Statement or Value Proposition to Guide Development of Marketing Strategy

The Outcome of Effective Positioning: Building Brand Equity

Managing Brand Equity

Some Caveats in Positioning Decision Making

Take-aways

Endnotes

SECTION THREE DEVELOPING STRATEGIC MARKETING PROGRAMS

CHAPTER NINE Business Strategies: A Foundation for Marketing Program Decisions

Business Strategies and Marketing Programs at 3M

Marketing Challenges Addressed in Chapter 9

How Do Businesses Compete?

Generic Business-Level Competitive Strategies

Do the Same Competitive Strategies Work for Single-Business Firms and Start-ups?

Do the Same Competitive Strategies Work for Service Businesses?

Do the Same Competitive Strategies Work for Global Competitors?

Will the Internet Change Everything?

How Do Competitive Strategies Differ from One Another?

Differences in Scope

Differences in Goals and Objectives

Differences in Resource Deployments

Differences in Sources of Synergy

Deciding When a Strategy Is Appropriate: The Fit between Business Strategies and the Environment

Appropriate Conditions for a Prospector Strategy

Appropriate Conditions for an Analyzer Strategy

Appropriate Conditions for a Defender Strategy

How Different Business Strategies Influence Marketing Decisions

Product Policies

Pricing Policies

Distribution Policies

Promotion Policies

What If the Best Marketing Program for a Product Does Not Fit the Business’s Competitive Strategy?

Take-aways

Endnotes

CHAPTER TEN Product Decisions

Product Decisions in a Services Business

Marketing Challenges Addressed in Chapter 10

Product Design Decisions for Competitive Advantage

Goods and Services: Are the Product Decisions the Same?

Product Quality and Features Decisions

Branding Decisions

Packaging Decisions

Services Decisions and Warranties

Managing Product Lines for Customer Appeal and Profit Performance

Product Systems

New Product Development Process Decisions

The Importance of New Products to Long-Term Profitability

New Product Success and Failure

Organizing for New Product Development

Key Decisions in the New Product Development Process

Limitations of Stage Gate Thinking and Processes

Product Decisions over the Product Life Cycle

Market and Competitive Implications of Product Life Cycle Stages

Strategic Implications of the Product Life Cycle

Limitations of the Product Life Cycle Framework

Take-aways

Endnotes

CHAPTER ELEVEN Pricing Decisions

Ryanair: Low Prices, High Profits—But Increasing Costs

Marketing Challenges Addressed in Chapter 11

A Process for Making Pricing Decisions

Strategic Pricing Objectives

Estimating Demand and Perceived Value

Estimating Costs

Analyzing Competitors’ Costs and Prices

Methods Managers Use to Determine an Appropriate Price Level

Cost-Oriented Methods

Competition-Oriented Methods

Customer-Oriented Methods

Deciding on a Price Structure: Adapting Prices to Market Variations

Geographic Adjustments

Global Adjustments

Discounts and Allowances

Differential Pricing

Product-Line Pricing Adjustments

Take-aways

Endnotes

CHAPTER TWELVE Distribution Channel Decisions

Selling Soft Drinks in Africa—Coke Builds a Distribution System

Marketing Challenges Addressed in Chapter 12

Why Do Multifirm Marketing Channels Exist?

Designing Distribution Channels: What Are the Objectives to Be Accomplished?

Product Availability

Meeting Customers’ Service Requirements

Promotional Effort

Market Information

Cost-Effectiveness

Flexibility

Designing Distribution Channels: What Kinds of Institutions Might Be Included?

Merchant Wholesalers

Agent Middlemen

Retailers

Nonstore Retailing

Channel Design Alternatives

Alternative Consumer Goods Channels

Alternative Industrial Goods Channels

Which Alternative Is Best? It Depends on the Firm’s Objectives and Resources

Availability and the Satisfaction of Customer Service Requirements

Promotional Effort, Market Information, and Postsale Service Objectives

Cost-Effectiveness

Flexibility

Multichannel Distribution

Channel Design for Global Markets

Market Entry Strategies

Channel Alternatives

Channel Design for Services

Channel Management Decisions

Vertical Marketing Systems

Sources of Channel Power

Channel Control Strategies

Trade Promotions—Incentives for Motivating Channel Members

Channel Conflicts and Resolution Strategies

Take-aways

Endnotes

CHAPTER THIRTEEN Integrated Promotion Decisions

Nano Goes Nowhere

Marketing Missteps

Tata Responds

Marketing Challenges Addressed in Chapter 13

The Promotion Mix: A Communication Tool Kit

Developing an Integrated Marketing Communications Plan

Step 1: Define the Audience(s) to Be Targeted

Step 2: Set the Promotional Objectives

Step 3: Set the Promotion Budget

Step 4: Design the Promotion Mix

Step 5: Evaluate the Results

The Nitty-Gritty of Promotional Decision Making

Making Advertising Decisions

Making Personal Selling Decisions

Making Sales Promotion Decisions

Making Public Relations Decisions

. . . And All the Rest

Take-aways

Endnotes

SECTION FOUR STRATEGIC MARKETING PROGRAMS FOR SELECTED SITUATIONS

CHAPTER FOURTEEN Marketing Strategies for a Digitally Networked World

Opportunities in the App Economy

Games as Apps

More than Games

Business Models

Is It Real, or Is It a Bubble?

Marketing Challenges Addressed in Chapter 14

Does Every Company Need a Social Media Strategy?

Threats or Opportunities? The Inherent Advantages and Disadvantages of the Digitally Networked World

The Syndication of Information

Increasing Returns to Scale of Network Products

The Ability to Efficiently Personalize and Customize Market Offerings

Disintermediation and Restructuring of Distribution Channels

Global Reach, 24/7 Access, and Instantaneous Delivery

Are These Digital World Attributes Opportunities or Threats?

First-Mover Advantage: Fact or Fiction?

Developing a Strategy for a Digitally Networked World: A Decision Framework

Marketing Applications for a Digitally Networked World

Developing Digital World Marketing Strategies: The Critical Questions

Managing Digitally Networked Strategies: The Talent Gap

Developing Strategies to Serve Digital and Social Networking Markets

Serving the Dot-Com Markets of Tomorrow

Take-aways

Endnotes

CHAPTER FIFTEEN Strategies for New and Growing Markets

Canon, Inc.—Success That Is Hard to Copy

Marketing Challenges Addressed in Chapter 15

How New Is New?

Market Entry Strategies: Is It Better to Be a Pioneer or a Follower?

Pioneer Strategy

Not All Pioneers Capitalize on Their Potential Advantages

Follower Strategy

Determinants of Success for Pioneers and Followers

Strategic Marketing Programs for Pioneers

Mass-Market Penetration

Niche Penetration

Skimming and Early Withdrawal

Marketing Program Components for a Mass-Market Penetration Strategy

Marketing Program Components for a Niche Penetration Strategy

Marketing Program Components for a Skimming Strategy

Growth-Market Strategies for Market Leaders

Marketing Objectives for Share Leaders

Marketing Actions and Strategies to Achieve Share-Maintenance Objectives

Fortress, or Position Defense, Strategy

Flanker Strategy

Confrontation Strategy

Market Expansion

Contraction or Strategic Withdrawal

Share-Growth Strategies for Followers

Marketing Objectives for Followers

Marketing Actions and Strategies to Achieve Share Growth

Frontal Attack Strategy

Leapfrog Strategy

Flanking and Encirclement Strategies

Supporting Evidence

Take-aways

Endnotes

CHAPTER SIXTEEN Strategies for Mature and Declining Markets

Johnson Controls—Making Money in Mature Markets

Marketing Challenges Addressed in Chapter 16

Challenges in Mature Markets

Challenges in Declining Markets

Strategic Choices in Mature Markets

Strategies for Maintaining Competitive Advantage

Methods of Differentiation

Are the Dimensions the Same for Service Quality on the Internet?

Methods of Maintaining a Low-Cost Position

Customers’ Satisfaction and Loyalty Are Crucial for Maximizing Their Lifetime Value

Marketing Strategies for Mature Markets

Strategies for Maintaining Current Market Share

Strategies for Extending Volume Growth

Strategies for Declining Markets

Relative Attractiveness of Declining Markets

Divestment or Liquidation

Marketing Strategies for Remaining Competitors

Take-aways

Endnotes

SECTION FIVE IMPLEMENTING AND CONTROLLING MARKETING PROGRAMS

CHAPTER SEVENTEEN Organizing and Planning for Effective Implementation

Electrolux—Organizing to Rule the World of Household Appliances

Too Many Brands, Too Little Coordination

A New Structure to Implement the New Strategy

Preliminary Results

Marketing Challenges Addressed in Chapter 17

Designing Appropriate Administrative Relationships for the Implementation of Different Competitive S

Business-Unit Autonomy

Shared Programs and Facilities

Evaluation and Reward Systems

Designing Appropriate Organizational Structures and Processes for Implementing Different Strategies

Functional Competencies and Resource Allocation

Additional Considerations for Service Organizations

Organizational Structures

Recent Trends in Organizational Design

Organizational Adjustments as Firms Grow and Markets Change

Organizational Designs for Selling in Global Markets

Marketing Plans: The Foundation for Implementing Marketing Actions

The Situational Analysis

Key Issues

Objectives

Marketing Strategy

Action Plans

Projected Profit-and-Loss Statement

Contingency Plans

Take-aways

Endnotes

CHAPTER EIGHTEEN Measuring and Delivering Marketing Performance

Metrics Pay for Walmart

Changing Metrics for a Changing Strategy

Can Walmart’s Overseas Stores Plug the Gap?

Marketing Challenges Addressed in Chapter 18

Designing Marketing Metrics Step by Step

Setting Standards of Performance

Specifying and Obtaining Feedback Data

Evaluating Feedback Data

Taking Corrective Action

Design Decisions for Strategic Monitoring Systems

Identifying Key Variables

Tracking and Monitoring

Strategy Reassessment

Design Decisions for Marketing Metrics

Who Needs What Information?

SEO and SEM Analysis

When and How Often Is the Information Needed?

In What Media and in What Format(s) or Levels of Aggregation Should the Information Be Provided?

Does Your System of Marketing Metrics Measure Up?

What Contingencies Should Be Planned For?

Global Marketing Monitoring

A Tool for Periodic Assessment of Marketing Performance: The Marketing Audit

Types of Audits

Measuring and Delivering Marketing Performance

Take-aways

Endnotes

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John Mullins,Orville Walker,Marketing Management,A Strategic