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Taking into consideration a company of your choice and its products/services, (Preferred company and producer, internationally famous) Discuss how companies choose target-marketing strategy and identify attractive market segments. Improve your answer with examples. How do firms manage all of their products and services? What are the steps in the best development process for new products/services? Regulations Justify your answers with the help of course materials, Text Book, Online resources Answer should be in not less than 1000 words. All students are encouraged to use their own words.Referencing is necessary and student must apply APA Referencing Style.A mark of zero will be given for any submission that includes copying from other resource without referencing it.A mark of zero
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Marketing: Defined,
Explained, Applied
Second Edition
Michael Levens
Walsh College
Prentice Hall
Boston Columbus Indianapolis New York San Francisco Upper Saddle River
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Copyright © 2012, 2010 by Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper
Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This
publication is protected by Copyright, and permission should be obtained from the publisher prior to any
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submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle
River, New Jersey 07458.
Library of Congress Cataloging-in-Publication Data
Levens, Michael.
Marketing : defined, explained, applied / Michael Levens.—2nd ed.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-13-217715-3 (pbk. : alk. paper)
1. Marketing. I. Title.
HF5415.L47568 2011
658.8—dc22
2010039067
10 9 8 7 6 5 4 3 2 1
ISBN 10:
0-13-217715-3
ISBN 13: 978-0-13-217715-3
Brief Contents |
Brief Contents
PART
1
2
Explaining
Chapter 1 – The Meaning of Marketing
Chapter 2 – The Market in Marketing
2
14
Chapter 3 – Planning and Marketing in an Organization
Chapter 4 – A Broader Perspective on Marketing
Chapter 5 – Global Marketing
PART
2
Creating
38
52
68
Chapter 6 – Value for Customers
68
Chapter 7 – A Perspective on Consumer Behavior
Chapter 8 – Consumer Insight
Chapter 9 – The Brand
PART
3
82
96
114
Strategizing 130
Chapter 10 – Segmenting, Targeting, and Positioning
Chapter 11 – The Marketing Plan
PART
26
4
130
146
Managing 162
Chapter 12 – Product and Service Strategies
Chapter 13 – Pricing Strategies
162
178
Chapter 14 – Supply Chain and Distribution Strategies
Chapter 15 – Retailing and Wholesaling Strategies
196
210
Chapter 16 – Advertising and Sales Promotion Strategies
224
Chapter 17 – Personal Selling and Direct Marketing Strategies
PART
5
Integrating
254
Chapter 18 – The Communications Mix
Chapter 19 – The Marketing Mix
254
272
Chapter 20 – Marketing Performance Management
298
Appendix
Notes
334
Glossary
Index
341
355
284
238
iii
iv
|
Contents
Contents
Explaining 2
PART 1
Competitive Environment
Technological Environment
Consumer Markets
(Chapters 1–5)
Consumer Markets Applied
Business Markets
19
19
20
Business Markets Explained
Chapter Outline
Marketing
2
Business Markets Applied
3
20
21
Business Markets
Marketing Explained
3
Marketing Applied
Visual Summary
Marketing Concept
4
23
Chapter 3 | Planning and Marketing
in an Organization………………………………….26
5
Marketing Concept Explained
Marketing Concept Applied
5
Chapter Outline
26
5
Planning Process
Marketing Concept
27
5
Planning Process Explained
Evolution of Marketing: Early Years Until 1950
Evolution of Marketing: 1950–Present
6
Planning Process Applied
6
Strategic Planning
Evolution of Marketing: 1950–Present
27
27
29
7
Strategic Planning Explained
Evolution of Marketing: Social Responsibility
7
Strategic Planning Applied
Evolution of Marketing: Social Responsibility
Marketing Functions
8
9
9
Strategic Planning, BCG Matrix
Marketing Planning
Internal Marketing Participants 9
External Marketing Participants
Marketing Functions Applied
10
32
33
Marketing Planning, SWOT
Visual Summary
Chapter 2 | The Market in Marketing……..14
14
15
Marketing Environment Applied
15
39
Marketing and Society Applied
16
Marketing and Culture Explained
16
Economic Environment
39
39
Marketing and Culture 40
16
Macroenvironment
38
Marketing and Society Explained
15
Microenvironment
34
Marketing and Society
15
Marketing and Culture Applied
17
33
Chapter 4 | A Broader Perspective
on Marketing…………………………………………38
Chapter Outline
Marketing Environment Explained
Macroenvironment
32
Marketing Planning
Marketing Planning Applied
10
11
Marketing Environment
30
32
Marketing Planning Explained
External Marketing Participants 9
Microenvironment
29
30
Strategic Planning, Teva Balanced Scorecard 31
Marketing Functions Explained
Chapter Outline
21
3
Marketing
Visual Summary
18
19
Consumer Markets Explained
Chapter 1 | The Meaning of Marketing……2
17
Culture
40
40
40
Contents |
Consumerism
41
Creating 68
PART 2
Consumerism
Environmentalism
42
42
Environmentalism
Marketing and the Law
43
(Chapters 6–9)
44
Marketing and the Law Explained
Marketing and the Law Applied
Regulations
44
Chapter 6 | Value for Customers…………..68
44
45
Marketing and Social Responsibility
46
Marketing and Social Responsibility Explained
Marketing and Social Responsibility Applied
Social Responsibility
46
46
Chapter Outline
68
Customer Value
69
Customer Value Explained
Customer Value Applied
Customer Satisfaction
47
Corporate Social Responsibility
47
69
69
71
Customer Satisfaction Explained
Customer Satisfaction Applied
Visual Summary
48
71
71
Measuring Customer Satisfaction
72
Customer Satisfaction
Chapter 5 | Global Marketing ………………52
Chapter Outline
52
Global Marketing
53
Global Marketing Applied
53
Global Marketing Environment
72
Customer Lifetime Value
73
73
55
Relationship Marketing
74
75
Customer Relationship Management Explained
Customer Relationship Management Applied
57
Customer Identification
58
Customization
Legal 59
Global Marketing Environment Applied
Global Marketing Processes
76
Loyalty Programs
59
Technology
61
76
76
Visual Summary
Global Marketing Processes Explained
75
76
76
Loyalty Programs
59
75
75
75
Customer Differentiation
58
Customer Interaction
78
61
61
Market Selection
Market Entry Strategies
Chapter 7 | A Perspective on Consumer
Behavior ………………………………………………82
61
62
Global Marketing Strategy
Chapter Outline
62
Global Marketing Processes Applied
63
Global Marketing Processes
Visual Summary
74
74
Customer Relationship Management
57
Market Selection
74
Relationship Marketing Applied
55
Political
Cultural
The Value of a Customer
Relationship Marketing Explained
55
Global Trade 56
Legal
72
Relationship Marketing
54
Global Marketing Environment Explained
Political
72
Customer Retention 73
53
Global Marketing
Economic
Customer Loyalty
Customer Retention
Global Marketing Explained
Global Trade
v
64
82
Consumer Behavior
63
83
Consumer Behavior Explained
Consumer Behavior Applied
83
83
vi
|
Contents
Consumer Decision-Making Process
84
Consumer Decision-Making Process Explained
Consumer Decision Making
Chapter 9 | The Brand……………………….114
84
Chapter Outline
84
Consumer Decision-Making Process Applied
85
Brand
Personal Influence on Decision Making 85
Age and Life Stage
Affluence
115
Brand Explained
86
Brand Applied
115
115
Brand
87
Brand Equity
Psychological Influence on Decision Making 87
Situational Influence on Decision Making 87
Purchase Environment
Digital Environment
116
117
Brand Equity Explained
Brand Equity Applied
88
Brand Valuation
88
117
89
Global Brand Equity
Consumer Problem Solving Applied
Building Strong Brands
91
91
Brand Positioning
Brand Sponsorship
Licensing
97
Brand Development
97
97
Marketing Research Applied
99
New Brands
99
Marketing Research
Managing Brands
99
123
125
Managing Brands Applied
100
Brand Protection
125
125
125
Brand Protection
101
Visual Summary
123
123
Managing Brands Explained
100
Marketing Research, Syndicated
Research
122
Brand Extensions
Marketing Research Explained
Design the Research
122
Line Extensions
99
121
122
Co-Branding
Consumer Insight Applied
Marketing Research
121
121
Brand Sponsorship
96
120
120
120
Brand Name Selection
Chapter 8 | Consumer Insight………………96
119
120
Building Strong Brands Applied
92
Consumer Insight Explained
119
Building Strong Brands Explained
91
Consumer Problem Solving
Define the Problem
118
Business-to-Business Brand Equity
91
Consumer Problem Solving Explained
Consumer Insight
118
Global Brand Equity
Consumer Problem Solving
Chapter Outline
118
Brand Equity
Groups 90
Visual Summary
117
117
Building Brand Equity
Social Influence on Decision Making 88
Subculture
114
126
127
Marketing Research, Ethnographic
Research
102
PART 3
Marketing Research, Internet Research Panel
Conduct the Research
Analyze the Research
Strategizing 130
103
105
106
(Chapters 10–11)
Address the Problem in a Research Report 106
Marketing Information System
107
Marketing Information System Explained
Marketing Information System Applied
107
107
Marketing Information System
Visual Summary
109
108
Chapter 10 | Segmenting, Targeting,
and Positioning ……………………………………130
Chapter Outline
Segmentation
130
131
Contents |
Segmentation Explained
Segmentation Applied
Segmentation Base
131
Interior Views LLC Executive Summary
131
Company Description, Purpose, and Goals
133
133
and Goals
Demographic Segmentation
133
Psychographic Segmentation
Segmentation Base Applied
134
134
151
Forecasting
135
153
Interior Views LLC Forecasting
Segmenting International Markets 135
135
Interior Views LLC Marketing Strategy
Measurement and Controls
136
136
Visual Summary
Undifferentiated Marketing
137
159
Managing
PART 4
162
137
138
(Chapters 12–17)
Niche Marketing
138
138
Selecting a Target
158
137
Differentiated Marketing
Global Targeting
Chapter 12 | Product and Service
Strategies …………………………………………..162
138
139
Positioning Explained
Positioning Applied
Chapter Outline
139
139
Positioning
139
163
Products and Services Explained
Products and Services Applied
140
Perceptual Map
Levels of Product
140
163
163
164
Levels of a Product
140
Developing a Brand Position Statement 140
Brand Position Statement
Visual Summary
162
Products and Services
Using a Perceptual Map
Selecting a Position
141
Product Classifications
164
164
Product Classifications
165
New Product Development 165
142
New Product Development
Chapter 11 | The Marketing Plan……….146
Chapter Outline
Business Plan
Business Plan Explained
147
147
Business Plan
Marketing Plan
148
167
167
Product Portfolio
169
Product Portfolio Explained
Product Portfolio Applied
169
169
Product Portfolio
149
Marketing Plan Explained
Marketing Plan Applied
Product and Service Quality
Product Design 168
147
149
149
Executive Summary 149
166
Product-Development Steps—Roles and Requirements
Product Design
146
Business Plan Applied
157
137
Undifferentiated Marketing
Niche Marketing
157
Marketing Plan
136
Differentiated Marketing
155
Interior Views LLC Measurement and Controls
136
Targeting
153
Marketing Strategy 155
Segmenting International Markets
Positioning
151
Interior Views LLC Company Marketing
Situation
Segmenting Business Markets
Targeting Applied
150
150
Marketing Situation
Segmenting Business Markets 134
Targeting Explained
149
Interior Views LLC Company Description, Purpose,
Segmentation Base Explained
Targeting
vii
Product Life Cycle
169
171
Product Life Cycle Explained
Product Life Cycle Applied
171
171
167
viii
|
Contents
Product Life Cycle and Marketing Strategies 172
Channel Strategies Applied
Duration of the Product Life Cycle
Channel Structure
172
Limitations of the Product Life Cycle
Visual Summary
173
Channel Organization
200
Channel Management
174
199
199
200
Channel Strategies
Chapter 13 | Pricing Strategies…………..178
Chapter Outline
178
Establishing Prices
Logistics Applied
179
Establishing Prices Applied
179
Physical Distribution
Transportation
182
Warehousing
Demand and Price Elasticity
Chapter 15 | Retailing and Wholesaling
Strategies …………………………………………..210
184
185
Chapter Outline
Retailing
Pricing Strategies Applied
Retailing Explained
187
Retailing Applied
187
New Product and Service Pricing Strategies 188
New Product and Service Pricing Strategies
189
Auction Pricing Strategies
190
Portfolio Pricing Strategies 190
Price Adjustment Strategies
211
Nonstore Retailing
213
Nonstore Retailing
Retail Strategies
Retail Strategies Explained
Retail Strategies Applied
Atmospherics
Location
Chapter 14 | Supply Chain
215
Wholesaling Applied
197
197
Types of Channel Intermediaries 198
Marketing Channels
198
217
217
Wholesaling
Types of Wholesalers
217
Merchant Wholesalers
Agents and Brokers
217
217
219
Manufacturers’ Branches
199
199
215
217
Wholesaling Explained
197
Channel Strategies Explained
215
Retail Strategies
Wholesaling
196
214
215
Retail Price Policy
and Distribution Strategies ……………………196
Channel Strategies
214
214
215
Promotion
Marketing Channels Applied
213
214
Level of Service
191
192
Marketing Channels Explained
211
Merchandise Assortment 214
190
Price Adjustment Strategies
Marketing Channels
211
Types of Retailers
188
Online and Storefront Pricing Strategies 189
Auction Pricing Strategies
211
187
Pricing Strategies
Chapter Outline
210
187
Pricing Strategies Explained
Visual Summary
207
184
184
Legal Requirements
Pricing Strategies
204
205
Visual Summary
Pricing Practices Explained
204
204
Physical Distribution 205
182
184
Legal Requirements
204
Physical Distribution Applied
Demand and Price Elasticity 182
Pricing Practices Applied
203
Physical Distribution Explained
180
Cost-Based Pricing
Pricing Practices
202
202
Logistics Systems
179
180
Cost-Based Pricing
202
Logistics Explained
Establishing Prices Explained
Market Structure
Logistics
201
Visual Summary
220
219
Contents |
Chapter 16 | Advertising and Sales
Promotion Strategies …………………………..224
Chapter Outline
224
Step 6: Close the Sale
Marketing Communications Applied
225
Sales Management
226
Sales Management Process
227
Setting Sales Force Objectives
Force
229
229
245
Employee Training
Direct Marketing
229
Sales Promotion
230
Direct Marketing Applied
Mail Order
231
Sales Promotion Explained
Sales Promotion Applied
233
Public Relations Applied
233
249
249
Consumer Privacy
Public Relations Explained
249
Direct-Response Advertising
231
Internet
Public Relations
249
Direct-Response Advertising
231
Sales Promotion
247
247
248
Telemarketing
231
246
247
Direct Marketing Explained
Advertising
244
245
Evaluating the Sales Force
Message and Creative Strategy 229
Media Selection
244
Recruiting, Compensating, Training, and Motivating the Sales
228
Advertising Budget
244
244
Developing the Sales Force Strategy
Advertising Objectives 228
Visual Summary
250
251
233
Public Relations
Sponsorship
Visual Summary
244
Sales Management Process Applied
228
Advertising Applied
243
Sales Management Process Explained
227
Advertising Explained 228
Evaluation
243
243
Sales Management
226
242
243
Sales Management Applied
Communication Objectives
Relationship Building
242
242
Sales Management Explained
225
Communication Objectives 225
Word of Mouth
242
Personal Selling Process
225
Marketing Communications Explained
Control and Credibility
242
Step 5: Overcome Objections
Step 7: Follow-up
Marketing Communications
Advertising
Step 4: Sales Presentation
ix
233
Integrating
PART 5
254
234
235
(Chapters 18–20)
Chapter 17 | Personal Selling and Direct
Marketing Strategies…………………………….238
Chapter Outline
238
Personal Selling
239
Chapter 18 | The Communications Mix….254
Chapter Outline
Personal Selling Explained
Personal Selling Applied
Integrated Marketing Communications
239
Integrated Marketing Communications Applied
240
Integrated Marketing
Personal Selling Process
241
Personal Selling Process Explained
Personal Selling Process Applied
Step 1: Prospecting
241
Step 2: Preapproach
Step 3: Approach
241
242
255
Integrated Marketing Communications Explained
239
Personal Selling
254
Communications
241
255
Communications Mix
256
241
Communications Mix Explained
256
Communications Mix
Communications Mix Applied
256
256
255
255
|
x
Contents
Media Types
258
Marketing-Mix Models
Media Types Explained
Media Types Applied
Broadcast
Marketing-Mix Models Explained
258
Marketing-Mix Models Applied
258
CPM
Print
258
279
279
279
Marketing-Mix Models
280
259
Visual Summary
259
Media Types
281
260
Out-of-Home
260
Chapter 20 | Marketing Performance
Digital Media
261
Measurement……………………………………….284
Digital Media
Branded Entertainment
261
Chapter Outline
284
262
Branded Entertainment
Marketing Accountability
262
285
Marketing Accountability Explained
Media Selection
285
263
Marketing Accountability
Media Selection Explained
Media Selection Applied
Media Planning
Media Buying
Marketing Accountability Applied
263
Measuring Marketing
264
264
Media Optimization
286
287
Measuring Marketing Explained
Measuring Marketing Applied
266
Media Optimization Explained
Media Optimization Applied
266
287
287
Measuring Marketing
266
Media Optimization
Visual Summary
Measuring Advertising
267
288
289
Measuring Advertising Explained
268
Measuring Advertising Applied
289
289
Measuring Advertising
Chapter 19 | The Marketing Mix…………272
Chapter Outline
Marketing Mix
272
273
Marketing-Mix Strategies Applied
Within the Marketing Mix
Return on Marketing Investment
275
275
Visual Summary
293
293
294
275
276
Marketing-Mix Strategies: Situation 2
276
Marketing-Mix Strategies: Situation 3
276
Marketing-Mix Strategies: Situation 4
277
Marketing-Mix Strategies: Situation 5
277
Marketing-Mix Strategies: Situation 6
277
Appendix
Notes
Index
Interior Views Marketing Plan
334
Glossary
278
293
Return on Marketing Investment Applied
Marketing-Mix Strategies: Situation 1
Beyond the 4 Ps
292
Return on Marketing Investment Explained
275
Marketing-Mix Strategies Explained
291
291
Measuring Brand Health
273
Marketing-Mix Strategies
290
291
Measuring Brand Health Applied
273
Marketing Mix Applied
Me …
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