Marketing Management, 16th Edition

Marketing Management, 16th Edition

by Philip T. Kotler, Kevin Lane Keller, Alexander Chernev
Released June 2021
Publisher(s): Pearson
ISBN: 9780135323199

Read it now on the O’Reilly learning platform with a 10-day free trial.

O’Reilly members get unlimited access to books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial

Book description

This print textbook is available for students to rent for their classes. The Pearson print rental program provides students with affordable access to learning materials, so they come to class ready to succeed.

For undergraduate and graduate courses in marketing management.

The gold standard for today's marketing management student

The world of marketing is changing every day and in order for students to have a competitive edge, they need a text that reflects the best and most recent marketing theory and practices. Marketing Management collectively uses a managerial orientation, an analytical approach, a multidisciplinary perspective, universal applications, and balanced coverage to distinguish it from all other marketing management texts out there. Unsurpassed in its breadth, depth, and relevance, the 16th Edition features a streamlined organization of the content, updated material, and new examples that reflect the very latest market developments. After reading this landmark text, students will be armed with the knowledge and tools to succeed in the new market environment around them.

.

Table of contents

  1. Marketing Management
  2. Brief Contents
  3. Contents
  4. Preface
    1. What’s New in the 16th Edition
    2. Solving Learning and Teaching Challenges
  5. Acknowledgments
  6. About the Authors
  7. Marketing Management
  8. Part 1 Fundamentals of Marketing Management
    1. Chapter 1 Defining Marketing for the New Realities
      1. Learning Objectives
      2. The Scope of Marketing
        1. What is Marketing?
        2. What is Marketed?
        3. The Marketing Exchange
      3. The New Marketing Realities
        1. The Four Major Market Forces
          1. Technology
          2. Globalization
          3. Physical Environment
          4. Social Responsibility
        2. The Three Key Marketing Outcomes
          1. New Consumer Capabilities
          2. New Company Capabilities
          3. New Competitive Environment
        3. The Concept of Holistic Marketing
          1. Relationship Marketing
          2. Integrated Marketing
          3. Internal Marketing
          4. Performance Marketing
      4. The Role of Marketing in the Organization
      5. Organizing and Managing the Marketing Department
        1. Organizing the Marketing Department
          1. Functional Organization
          2. Geographic Organization
          3. Product or Brand Organization
          4. Market Organization
          5. Matrix Organization
        2. Managing the Marketing Department
          1. The Role of the CEO and CMO
          2. Relationships with Other Departments
      6. Building a Customer-Oriented Organization
      7. Summary
    2. Chapter 2 Marketing Planning and Management
      1. Learning Objectives
      2. Corporate and Business Unit Planning and Management
        1. Defining the Corporate Mission
        2. Building the Corporate Culture
        3. Defining Strategic Business Units
        4. Allocating Resources Across Business Units
      3. Developing Market Offerings
        1. Developing the Marketing Strategy
          1. Identifying the Target Market
          2. Developing a Value Proposition
        2. Designing the Marketing Tactics
        3. The Seven Ts and the Four Ps
        4. Creating a Market Value Map
      4. Planning and Managing Market Offerings
        1. The G-Stic Approach to Action Planning
        2. Setting a Goal
          1. Defining the Goal Focus
          2. Defining Performance Benchmarks
        3. Developing the Strategy
        4. Designing the Tactics
        5. Identifying Controls
          1. Evaluating Performance
          2. Monitoring the Environment
      5. Developing a Marketing Plan
      6. Modifying the Marketing Plan
        1. Updating the Marketing Plan
        2. Conducting a Marketing Audit
      7. Summary
  9. Part 2 Understanding the Market
    1. Chapter 3 Analyzing Consumer Markets
      1. Learning Objectives
      2. The Model of Consumer Behavior
      3. Consumer Characteristics
        1. Cultural Factors
        2. Social Factors
          1. Reference Groups
          2. Family
        3. Personal Factors
          1. Personality and Self-Concept
          2. Values and Lifestyle
      4. Consumer Psychology
        1. Consumer Motivation
          1. Consumer Needs
          2. Consumer Motivation
        2. Perception
          1. Selective Attention
          2. Selective Distortion
        3. Emotions
        4. Memory
          1. Memory Models
          2. Memory Processes
      5. The Buying Decision Process
        1. Problem Recognition
        2. Information Search
          1. Information Sources
          2. Search Dynamics
        3. Evaluation of Alternatives
          1. Beliefs and Attitudes
          2. Information Processing
          3. Expectancy-Value Model
        4. Purchase Decision
          1. Decision Heuristics
          2. The Level of Consumer Involvement
          3. Intervening Factors
        5. Postpurchase Behavior
      6. Summary
    2. Chapter 4 Analyzing Business Markets
      1. Learning Objectives
      2. The Organizational Buying Process
        1. Understanding Business Markets
        2. Types of Buying Decisions
      3. The Buying Center
        1. The Composition of the Buying Center
        2. The Role of the Buying Center in the Organization
        3. Buying Center Dynamics
        4. Selling to Buying Centers
      4. Understanding the Buying Process
        1. Problem Recognition
        2. Need Description
        3. Product Specification
        4. Supplier Search
        5. Proposal Solicitation
        6. Supplier Selection
        7. Contract Negotiation
        8. Performance Review
      5. Developing Effective Business Marketing Programs
        1. Transitioning From Products to Solutions
        2. Enhancing Services
        3. Building Business-to-Business Brands
        4. Overcoming Price Pressures
        5. Managing Communication
      6. Managing Business-to-Business Relationships
        1. Understanding the Buyer–Supplier Relationship
        2. Managing Corporate Trust, Credibility, and Reputation
        3. Risks and Opportunism in Business Relationships
        4. Managing Institutional Markets
      7. Summary
    3. Chapter 5 Conducting Marketing Research
      1. Learning Objectives
      2. The Scope of Marketing Research
        1. Importance of Marketing Insights
          1. General Foods
        2. Who Does Marketing Research?
      3. The Marketing Research Process
        1. Defining the Problem
        2. Developing the Research Plan
          1. Data Sources
          2. Research Approaches
            1. Observational Research
            2. Focus Group Research
            3. Survey Research
            4. Behavioral Research
          3. Research Instruments
            1. Questionnaires
            2. Qualitative Measures
            3. Measurement Devices
        3. Collecting the Information
          1. Sampling Plan
          2. Contact Methods
            1. Online
            2. In Person
            3. Mail and E-mail
            4. Telephone
          3. Data Mining
        4. Analyzing the Information and Making the Decision
      4. Measuring Market Demand
        1. Key Concepts in Demand Measurement
        2. Forecasting Market Demand
      5. Measuring Marketing Productivity
        1. Marketing Metrics
        2. Marketing-Mix Modeling
        3. Marketing Dashboards
      6. Summary
  10. Part 3 Developing a Viable Market Strategy
    1. Chapter 6 Identifying Market Segments and Target Customers
      1. Learning Objectives
      2. Identifying Target Customers
        1. The Logic of Targeting
        2. Strategic and Tactical Targeting
      3. Strategic Targeting
        1. Target Compatibility
        2. Target Attractiveness
          1. Monetary Value
          2. Strategic Value
      4. Tactical Targeting
        1. Defining the Customer Profile
        2. Aligning Customer Value and Customer Profile
        3. Bringing Target Segments to Life with Personas
      5. Single-Segment and Multi-Segment Targeting
        1. Single-Segment Targeting
        2. Targeting Multiple Segments
      6. Segmenting Consumer Markets
        1. Demographic Segmentation
          1. Age
          2. Stage in the Life Cycle
          3. Gender
          4. Income
          5. Race and Culture
        2. Geographic Segmentation
        3. Behavioral Segmentation
        4. Psychographic Segmentation
      7. Segmenting Business Markets
      8. Summary
    2. Chapter 7 Crafting a Customer Value Proposition and Positioning
      1. Learning Objectives
      2. Developing a Value Proposition and Positioning
        1. Developing a Value Proposition
        2. Developing a Positioning Strategy
      3. Choosing a Frame of Reference
      4. Identifying Potential Points of Difference and Points of Parity
        1. Identifying Points of Difference
        2. Identifying Points of Parity
        3. Aligning the Frame of Reference, Points of Parity, and Points of Difference
      5. Creating a Sustainable Competitive Advantage
        1. Sustainable Competitive Advantage as a Marketing Concept
        2. Strategies for Creating a Sustainable Competitive Advantage
          1. Differentiate on an Existing Attribute
          2. Introduce a New Attribute
          3. Build a Strong Brand
      6. Communicating the Offering’s Positioning
        1. Crafting a Positioning Statement
        2. Communicating Category Membership
        3. Communicating Conflicting Benefits
        4. Positioning as Storytelling
      7. Summary
  11. Part 4 Designing Value
    1. Chapter 8 Designing and Managing Products
      1. Learning Objectives
      2. Product Differentiation
      3. Product Design
        1. Power of Design
        2. Approaches to Design
      4. Product Portfolios and Product Lines
        1. Product Portfolio Design
        2. Product Line Analysis
        3. Product Line Length
          1. Line Stretching
            1. Down-Market Stretch
            2. Up-Market Stretch
            3. Two-Way Stretch
          2. Line Filling
      5. Managing Packaging and Labeling
        1. Packaging
        2. Labeling
      6. Managing Guarantees and Warranties
      7. Summary
    2. Chapter 9 Designing and Managing Services
      1. Learning Objectives
      2. The Nature of Services
        1. The Service Aspect of an Offering
        2. Distinctive Characteristics of Services
          1. Intangibility
          2. Inseparability
          3. Variability
          4. Perishability
      3. The New Services Realities
        1. Increasing Role of Technology
        2. Customer Empowerment
        3. Customer Coproduction
        4. Satisfying Employees as Well as Customers
      4. Achieving Service Excellence
        1. Best Practices of Top Service Companies
          1. Customer-Centricity
          2. Service Quality
          3. Catering to High-Value Customers
          4. Managing Customer Complaints
        2. Differentiating Services
          1. Ease of Ordering
          2. Speed and Timing of Delivery
          3. Installation, Training, and Consulting
          4. Maintenance and Repair
          5. Returns
        3. Innovation with Services
      5. Managing Service Quality
        1. Managing Customer Expectations
        2. Managing Service Quality
        3. Managing Self-Service
        4. Managing Product–Service Bundles
      6. Summary
    3. Chapter 10 Building Strong Brands
      1. Learning Objectives
      2. How Does Branding Work?
        1. The Essence of Branding
        2. The Role of Brands
          1. Brands’ Role for Consumers
          2. Brands’ Role for Firms
        3. Brand Equity and Brand Power
          1. Brand Equity
          2. Measuring Brand Equity
          3. Brand Power
          4. Measuring Brand Power
      3. Designing the Brand
        1. Defining the Brand Mantra
        2. Choosing Brand Elements
        3. Choosing Secondary Associations
      4. Brand Hierarchy
        1. Managing Brand Portfolios
        2. Cobranding
          1. The Essence of Cobranding
          2. Ingredient Branding
      5. Brand Dynamics
        1. Brand Repositioning
        2. Brand Extensions
          1. When to Extend a Brand?
          2. Advantages of Brand Extensions
          3. Disadvantages of Brand Extensions
        3. Managing a Brand Crisis
      6. Luxury Branding
        1. Characteristics of Luxury Brands
        2. Managing Luxury Brands
      7. Summary
    4. Chapter 11 Managing Pricing and Sales Promotions
      1. Learning Objectives
      2. Understanding Pricing
      3. Consumer Psychology and Pricing
      4. Setting the Price
        1. Defining the Pricing Objective
        2. Determining Demand
        3. Estimating Costs
          1. Fixed, Variable, and Total Costs
          2. Experience Curve Effects
        4. Analyzing Competitors’ Prices
        5. Selecting a Pricing Method
          1. Markup Pricing
          2. Target-Rate-of-Return Pricing
          3. Economic-Value-to-Customer Pricing
          4. Competitive Pricing
          5. Auction Pricing
        6. Setting the Final Price
        7. Product-Mix Pricing
      5. Initiating and Responding to Price Changes
        1. Initiating Price Cuts
        2. Initiating Price Increases
        3. Responding to Competitors’ Price Changes
      6. Managing Incentives
        1. Incentives as a Marketing Device
        2. Major Incentive Decisions
          1. Establishing the Objectives of Incentives
          2. Defining the Size and Approach for Incentives
          3. Selecting Consumer Incentives
          4. Selecting Trade Incentives
          5. Selecting Sales Force Incentives
      7. Summary
  12. Part 5 Communicating Value
    1. Chapter 12 Managing Marketing Communications
      1. Learning Objectives
      2. The Role of Marketing Communication
        1. The Communication Process
          1. Macromodel of the Communication Process
          2. Micromodel of Marketing Communication
        2. Developing an Effective Communication Program
      3. Setting the Communication Objectives
        1. Defining the Focus of Company Communications
        2. Setting the Communication Benchmarks
        3. Determining the Communication Budget
      4. Identifying the Target Audience and Crafting the Communication Message
        1. Identifying the Target Audience
        2. Crafting the Communication Message
      5. Deciding on the Communication Media
        1. Defining the Communication Media Mix
        2. Developing a Media Plan
          1. Determining the Media Reach, Frequency, and Impact
          2. Selecting Media Timing and Allocation
      6. Developing the Creative Approach
        1. Determining the Message Appeal
          1. Informational Appeals
          2. Transformational Appeals
        2. Selecting the Message Source
        3. Developing the Creative Execution
      7. Measuring Communication Effectiveness
      8. Summary
    2. Chapter 13 Designing an Integrated Marketing Campaign in the Digital Age
      1. Learning Objectives
      2. Managing Integrated Marketing Communications
      3. Advertising
        1. Television Advertising
        2. Print Advertising
        3. Radio Advertising
        4. Online Advertising
        5. Place Advertising
          1. Billboards
          2. Public Spaces
          3. Product Placement
          4. Point of Purchase
      4. Online Communication
        1. Company Website
        2. Driving Online Traffic
      5. Social Media
        1. The Growth of Social Media
        2. Social Media Platforms
          1. Online Communities and Forums
          2. Blogs
          3. Social Networks
          4. Customer Reviews
      6. Mobile Communication
      7. Events and Experiences
        1. Managing Events
        2. Creating Experiences
      8. Word of Mouth
      9. Publicity and Public Relations
        1. Publicity
        2. Public Relations
      10. Packaging
      11. Summary
    3. Chapter 14 Personal Selling and Direct Marketing
      1. Learning Objectives
      2. Personal Selling
        1. Personal Selling as a Process
          1. Prospecting and Qualifying
          2. Pre-approach
          3. Presentation and Demonstration
          4. Persuasion
          5. Closing
          6. Servicing
        2. Managing the Sale
      3. Designing the Sales Force
        1. Sales Force Objectives
        2. Sales Force Strategy
        3. Sales Force Structure
        4. Sales Force Size
        5. Sales Force Compensation
      4. Managing the Sales Force
        1. Recruiting the Sales Force
        2. Training and Supervising the Sales Force
        3. Managing Sales Force Productivity
        4. Motivating the Sales Force
        5. Evaluating the Sales Force
      5. Direct Marketing
        1. Direct Marketing Channels
          1. Direct Mail
          2. Catalog Marketing
          3. Telemarketing
          4. Infomercials
        2. The Future of Direct Marketing
      6. Summary
  13. Part 6 Delivering Value
    1. Chapter 15 Designing and Managing Distribution Channels
      1. Learning Objectives
      2. The Role of Distribution Channels
        1. Distribution Channel Functions
        2. Channel Levels
        3. Multichannel Distribution
      3. Channel-Management Decisions
        1. Establishing Channel Objectives
        2. Selecting Channel Members
          1. Identifying Major Channel Alternatives
          2. Franchising
        3. Motivating Channel Members
          1. Channel Power
          2. Channel Partnerships
        4. Evaluating Channel Members
      4. Channel Cooperation and Conflict
        1. The Nature of Channel Conflicts
          1. Types of Channel Conflict
          2. Causes of Channel Conflict
        2. Managing Channel Conflict
      5. Managing Market Logistics
        1. Market-Logistics Objectives
        2. Market-Logistics Decisions
          1. Order Processing
          2. Warehousing
          3. Inventory
          4. Transportation
      6. Summary
    2. Chapter 16 Managing Retailing
      1. Learning Objectives
      2. The Modern Retail Environment
      3. Key Retailing Decisions
        1. Target Market
        2. Product Assortment and Procurement
        3. Services
        4. Store Atmosphere
        5. Pricing
        6. Incentives
        7. Communications
      4. Managing Omnichannel Retailing
        1. Brick-and-Mortar Retailers
        2. Online Retailers
        3. Omnichannel Retailing
      5. Managing Private Labels
      6. Wholesaling
        1. The Business of Wholesaling
        2. Key Functions Performed by Wholesalers
      7. Summary
  14. Part 7 Managing Growth
    1. Chapter 17 Driving Growth in Competitive Markets
      1. Learning Objectives
      2. Assessing Growth Opportunities
        1. Product–Market Growth Strategies
        2. Growth Through Mergers and Acquisitions
        3. Growth Through Innovation and Imitation
      3. Gaining Market Position
        1. Growing Sales to Current Customers
        2. Creating New Markets
          1. Gaining a Pioneering Advantage
          2. Identifying Niche Markets
        3. Expanding Existing Markets
      4. Defending Market Position
      5. Product Life Cycle Marketing Strategies
        1. The Concept of a Product Life Cycle
        2. Introduction Stage
        3. Growth Stage
        4. Maturity Stage
          1. Market Growth
          2. Product Modification
        5. Decline Stage
          1. Harvesting and Divesting
          2. Eliminating Weak Products
        6. Alternative Product Life Cycle Patterns
      6. Summary
    2. Chapter 18 Developing New Market Offerings
      1. Learning Objectives
      2. The Process of Developing New Market Offerings
        1. The Innovation Imperative
        2. Managing Innovation
        3. The Stage-Gate Approach to Developing New Offerings
        4. The Stage-Gate Approach to Developing New Offerings: An Illustration
          1. Idea Generation and Validation
          2. Concept Development and Validation
          3. Business-Model Design and Validation
          4. Offering Implementation and Market Testing
          5. Commercial Deployment
      3. Idea Generation
        1. Generating Viable Ideas
        2. Idea Validation
        3. Market Research Tools for Idea Generation and Validation
      4. Concept Development
        1. Prototyping
        2. Concept Validation
      5. Business-Model Design
        1. Designing The Business Model
        2. Business-Model Validation
      6. Offering Implementation
        1. Developing the Core Resources
        2. Developing the Market Offering
      7. Commercial Deployment
        1. Selective Market Deployment
        2. Market Expansion
      8. Summary
    3. Chapter 19 Building Customer Loyalty
      1. Learning Objectives
      2. Managing Customer Acquisition and Retention
        1. The Customer Acquisition Funnel
        2. Balancing Customer Acquisition and Customer Retention
      3. Managing Customer Satisfaction and Loyalty
        1. Understanding Customer Satisfaction
        2. Product and Service Quality as a Driver of Customer Satisfaction
        3. Measuring Customer Satisfaction
        4. Building Customer Loyalty
          1. Interact Closely with Customers
          2. Develop Loyalty Programs
          3. Build Brand Communities
      4. Managing Customer Relationships
        1. Customization
        2. Customer Empowerment
        3. Managing Customer Word of Mouth
        4. Dealing with Customer Complaints
      5. Managing Customer Lifetime Value
        1. The Concept of Customer Lifetime Value
        2. Customer Lifetime Value and Brand Equity
        3. Building Customer Lifetime Value
        4. Creating Customer Loyalty by Building Trust
        5. Measuring Customer Lifetime Value
      6. Summary
    4. Chapter 20 Tapping into Global Markets
      1. Learning Objectives
      2. Deciding Whether to Go Abroad
      3. Deciding Which Markets to Enter
        1. Determining How Many Markets to Enter
        2. Evaluating Potential Markets
      4. Deciding How to Enter the Market
        1. Indirect and Direct Export
        2. Licensing
        3. Joint Ventures
        4. Direct Investment
      5. Deciding on the Global Marketing Program
        1. Global Product Strategies
          1. Straight Extension
          2. Product Adaptation
          3. Product Invention
          4. Dealing with Counterfeit Products
        2. Global Brand Strategies
          1. Brand Adaptation
          2. Country-of-Origin Effects
        3. Global Pricing Strategies
        4. Global Communication Strategies
        5. Global Distribution Strategies
      6. Summary
    5. Chapter 21 Socially Responsible Marketing
      1. Learning Objectives
      2. The Role of Social Responsibility in Marketing Management
      3. Community-Based Corporate Social Responsibility
        1. Corporate Social Responsibility in the Workplace
        2. Corporate Philanthropy
        3. Serving Low-Income Communities
        4. Cause Marketing
        5. Social Marketing
      4. Sustainability-Focused Corporate Social Responsibility
      5. Balancing Social Responsibility and Corporate Profitability
        1. Developing Ethical Marketing Communications
        2. Managing Customer Privacy
      6. Summary
  15. Endnotes
  16. Glossary
  17. Name Index
    1. A
    2. B
    3. C
    4. D
    5. E
    6. F
    7. G
    8. H
    9. I
    10. J
    11. K
    12. L
    13. M
    14. N
    15. O
    16. P
    17. R
    18. S
    19. T
    20. U
    21. V
    22. W
    23. Y
    24. Z
  18. Company, Brand, and Organization
    1. A
    2. B
    3. C
    4. D
    5. E
    6. F
    7. G
    8. H
    9. I
    10. J
    11. K
    12. L
    13. M
    14. N
    15. O
    16. P
    17. Q
    18. R
    19. S
    20. T
    21. U
    22. V
    23. W
    24. X
    25. Y
    26. Z
  19. Subject Index
    1. A
    2. B
    3. C
    4. D
    5. E
    6. F
    7. G
    8. H
    9. I
    10. J
    11. K
    12. L
    13. M
    14. N
    15. O
    16. P
    17. Q
    18. R
    19. S
    20. T
    21. U
    22. V
    23. W
    24. Y
    25. Z

Product information

  • Title: Marketing Management, 16th Edition
  • Author(s): Philip T. Kotler, Kevin Lane Keller, Alexander Chernev
  • Release date: June 2021
  • Publisher(s): Pearson
  • ISBN: 9780135323199