Marketing: Real People, Real Choices / Edition 8

by Michael R. Solomon, Greg W. Marshall, Elnora W. Stuart

Overview

NOTE: You are purchasing a standalone product; MyMarketingLab does not come packaged with this content. If you would like to purchase both the physical text and MyMarketingLab search for ISBN-10: 0133130592 ISBN-13: 9780133130591. That package includes ISBN-10:0132948931 ISBN-13:9780132948937 and ISBN-10: 0132952343 ISBN-13:9780132952347.

For undergraduate Principles of Marketing courses.

Real People, Real Choices

Marketing: Real People, Real Choices is the only text to introduce marketing from the perspective of real people who make real marketing decisions at leading companies everyday.

Timely, relevant, and dynamic, this reader-friendly text shows students how marketing concepts are implemented, and what they really mean in the marketplace.

Fully integrated with MyMarketingLab, the Eighth Editionfeatures a completely reorganized Table of Contents and chapter pedagogy divided in a four-part structure that emphasizes the value proposition and the process of creating and delivering value. This edition presents more information than ever on marketing research and analytics and students are guided through chapter content with new integrated study maps and assessments that help them actively learn and retain content.

Also available with MyMarketingLab.

MyMarketingLab is an online homework, tutorial, and assessment product designed to improve results by helping students quickly master concepts. Students benefit from self-paced tutorials that feature immediate wrong-answer feedback and hints that emulate the office-hour experience to help keep students on track. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

Product Details

ISBN-13:	9780132948937
Publisher:	Pearson
Publication date:	01/22/2015
Edition description:	Older Edition
Pages:	576
Product dimensions:	8.40(w) x 10.80(h) x 1.00(d)

About the Author

Michael R. Solomon

MICHAEL R. SOLOMON, Ph.D., joined the Haub School of Business at Saint Joseph’s University in Philadelphia as Professor of Marketing in 2006, where he also serves as Director of the Center for Consumer Research. From 2007 to 2013 he also held an appointment as Professor of Consumer Behaviour at The University of Manchester in the U.K. From 1995 to 2006, he was the Human Sciences Professor of Consumer Behavior at Auburn University. Prior to joining Auburn in 1995, he was Chairman of the Department of Marketing in the School of Business at Rutgers University, New Brunswick, New Jersey. Professor Solomon’s primary research interests include consumer behavior and lifestyle issues~ branding strategy~ the symbolic aspects of products~ the psychology of fashion, decoration, and image~ services marketing~ and the development of visually oriented online research methodologies. He currently sits on the editorial boards of the Journal of Consumer Behaviour, the European Business Review, and the Journal of Retailing, and he recently completed a six yearterm on theBoard of Governors of the Academy of Marketing Science. In addition to other books, he is also the author of Prentice Hall’s text Consumer Behavior Buying, Having, and Being, which is widely used in universities throughout the world. Professor Solomon frequently appears on television and radio shows such as The Today Show, Good Morning America, Channel One, the Wall Street Journal Radio Network, and National Public Radio to comment on consumer behavior and marketing issues.

Greg W. Marshall

GREG W. MARSHALL, Ph.D., is the Charles Harwood Professor of Marketing and Strategy in the Crummer Graduate School of Business at Rollins College in Winter Park, Florida and is also Academic Director of the Executive DBA program there. For three years he also served as Vice President for Strategic Marketing for Rollins. Before joining Rollins, he was on the faculty of Oklahoma State University, the University of South Florida, and Texas Christian University. He also holds a visiting professorship in the Marketing Group at Aston Business School, Birmingham, UK. Professor Marshall earned a BSBA in Marketing and an MBA from the University of Tulsa, and a Ph.D. in Marketing from Oklahoma State University. His research interests include sales management, marketing management decision making, and intraorganizational relationships. He is editor of the Journal of Marketing Theory and Practice and former editor of the Journal of Personal Selling & Sales Management and currently serves on the editorial boards of the Journal of the Academy of Marketing Science, Journal of Business Research, and Industrial Marketing Management. Professor Marshall is Past President of the American Marketing Association Academic Division, a Distinguished Fellow and Past President of the Academy of Marketing Science, and a Fellow and Past President of the Society for Marketing Advances. His industry experience prior to entering academe includes product management, field sales management, and retail management positions with firms such as WarnerLambert, the Mennen Company, and Target Corporation.

Elnora W. Stuart

ELNORA W. STUART, Ph.D., is Professor of Marketing and Associate Dean of the George Dean Johnson, Jr. College of Business and Economics at the University of South Carolina Upstate. Prior to joining USC Upstate in 2008, she was Professor of Marketing and the BP Egypt Oil Professor of Management Studies at the American University in Cairo, Professor of Marketing at Winthrop University in Rock Hill, South Carolina, and on the faculty of the University of South Carolina. She has also been a regular visiting professor at Instituto de Empresa in Madrid, Spain. She earned a BA in Theatre/Speech from the University of North Carolina at Greensboro and both a Master of Arts in Journalism and Mass Communication, and a Ph.D. in Marketing from the University of South Carolina. Professor Stuart’s research has been published in major academic journals including the Journal of Consumer Research, Journal of Advertising, Journal of Business Research, and Journal of Public Policy and Marketing. For over 25 years she has served as a consultant for numerous businesses and not for profit organizations in the United States and in Egypt.

Table of Contents

PART I. Understand the Value Proposition
1. Welcome to the World of Marketing
2. Global, Ethical and Sustainable Marketing
3. Strategic Market Planning

PART II. Determine the Value Propositions Different Customers Want
4. Basics of the Market Research Process
5. Marketing Analytics: Welcome to the Era of Big Data!(6. Understand Consumer and Business Markets(7. Segmentation, Target Marketing and Positioning

PART III. Develop the Value Proposition for the Customer
8. Product I: Innovation and New Product Development
9. Product II: Product Strategy, Branding, and Product Management
10. Price: What is the Value Proposition Worth?

PART IV. Deliver and Communicate the Value Proposition
11. Deliver the Goods: Determine Distribution Strategy
12. Deliver the Customer Experience: Bricks and Clicks
13. Promotion I: Advertising, Sales Promotion, and Public Relations
14. Promotion II: Social Media, Direct/Database Marketing, and Personal

APPENDICES
APPENDIX 1. CAREERS IN MARKETING
APPENDIX 2. SAMPLE MARKETING PLAN

Introduction

IN THIS BOOK, you're the marketer. So before we describe this new edition, you tell us: What is marketing? Which definition of marketing would you choose and why?

Option 1: Marketing is about memorizing a bunch of terms like zone pricing and merchant wholesaler.

Option 2: Marketing is about the four Ps only — product, price, place, and promotion.

Option 3: Marketing is about the four Ps and about the flesh-and-blood people who need to make tough decisions about the best way to develop a hot new product or about how to make that product so irresistible it flies off of store shelves.

We hope you chose option 3. We've been teaching and doing marketing for a long time. If there's one thing we've learned, it's that our discipline is fun, exciting and important—when communicated the right way. Sure, this book will give you all the terms you need to know to pass that final exam. But, you'll also see how marketing can come alive when it's being practiced by real people making real choices. To us, marketing is about the creation of value—for customers, companies, and society. We'd like to show you how that's done in the real world.

This book is for students who want to be marketers. It's also for students who don't. If you fall into the first category, we're going to teach you the basics of your field so that you can understand how marketers contribute to the creation of value. If you fall into the second category, maybe at the end of the term, you'll change your mind. Even if you don't, we're going to show you that the principles of marketing apply to many otherfields as well, from the arts to accounting. And regardless of your reasons for taking this course, we've worked hard to make the material come alive for you by focusing on marketing decision making. You won't just read about it, you'll do it.

Get Real!

Real People, Real Choices vignettes introduce students to marketers at companies big and small. Vignettes ask students to consider three options the marketer had and then pick the best option.

• Real People, Real Choices vignettes unify each chapter and place the student in the marketing driver's seat.
• Students, faculty, and industry professionals from around the world weigh in on what featured marketers should do to solve their marketing dilemmas.
• Students find out the marketer's "real choice" at chapter's end.

NEW TIMES...NEW TOPICS

THIS NEW EDITION reflects what's going on in the world of marketing now. It focuses on the creation and transfer of value from manufacturers to consumers. It's organized around the sequence of steps necessary to ensure that the appropriate value exchange occurs and that both parties to the transaction are satisfied (making it more likely they'll continue to do business in the future). These steps include:

• Making Marketing Value Decisions (Part I)
• Identifying Markets and Understanding Customers' Needs for Value (Part II)
• Creating the Value Offer (Part III)
• Communicating the Value Offer (Part IV)
• Delivering the Value Offer (Party)

We've updated and expanded our coverage of online marketing activities, including everything from virtual communities to new forms of Internet marketing research. The text covers new ways in which marketers are reaching out to customers—and letting them reach back—guerrilla marketing, customer relationship management (CRM), and M-commerce, for instance.

Here's just a sample of what's new:

• Impact of the Internet and new technologies on marketing in every chapter "Brand You" (Ch. 1)—students begin by thinking of themselves as a products to be marketed
• New online research practices (Ch. 5)
• Guerilla marketing (Ch. 16)
• E-commerce developments: C2C (Ch. 6), 13213 (Ch. 7), B2C (Ch. 18)
• Customer Relationship Management (CRM) and 1:1 marketing (Ch. 8)
• Online dynamic pricing strategies (Ch. 13)
• New coverage of integrated marketing communications (Ch. 14)
• E-commerce and database marketing strategies (Ch. 15)
• Social responsibility and ethical decision-making (Ch. 3)
• Supply chain management and the value chain (Ch. 17)...and much more!

NEW FEATURES

• Reel People, Real Choices chapter opening vignettes
  Each chapter opens by introducing students to a real marketer facing a real marketing issue. Students see what options the marketer had and they can decide (during the course of the chapter) the marketer's best option. Student's get the answer in the "How it Worked Out" section at chapter's end. Sixteen Real People are new to this edition, ranging from CEOs to brand managers.
• Reel People, Your Choices: Think and Do Like a Marketer
  Directly following the Real People, Real Choices opener is a short activity with a "hint" to help the student solve the featured marketer's problem This activity helps students to get in the mindset of a marketer.
• Reel People, Other Voices
  A marketing professor, marketing executive, and marketing student refer back to the chapter opener and voice the option the would choose if faced with the marketer's dilemma.
• Bookmark It!
  This new activity focuses on doing. Each activity is directly keyed to one of the chapter's learning objectives. Students do online research, perform mini-projects, or think about a marketing problem the way a marketer would.
• How it Worked Out
  Each chapter concludes with the featured marketer explaining the decision made and the results of that decision.
• Plan It! Developing a Marketing Plan
  Students make decisions in order to develop a marketing plan for a small, entrepreneurial company. This new exercise appears at the end of each chapter and allows students to create marketing plans on their own or using professional Marketing Plan Pro software.

For the Instructor

Instructor's Manual: Contains chapter overview and objectives, plus detailed lecture outlines— incorporating figures and assignments from the text. Includes suggested discussion questions and exercises, plus review questions/answers along with extra projects. Now also includes Solomon's Marketing Adventure CD-ROM with suggested activities for both in and out of the classroom. This CD-ROM includes hundreds of the New York Festivals award-winning print advertisements, giving students exciting and relevant examples in every class.

Test Item File: Brand new—completely revamped since the last edition! Includes thousands of questions, consisting of multiple choice, true/false, and short-answer. Page references are provided for each question.

PowerPoint Express: Easily customizable for even the most novice user, this presentation includes basic chapter outlines and key points from each chapter. The best option if you want to incorporate your own material!

PowerPoint Expanded: Includes the basics found in the Express version but also advertisements and art from the text. The best option if you want a complete presentation solution. Both PowerPoint presentations are available from the Prentice Hall Web site or on the Instructor Course Organizer CD-ROM.

Prentice Hall Electronic Test Manager: Windows based Test Manager which creates exams and allows you to evaluate and track students' results. Easily customizable for your needs.

Instructor Course Organizer CD-ROM: One source for all of your supplement needs. This Instructor CD contains all the print and technology supplements on a single CD-ROM. Enjoy the freedom to transport the entire supplements package from home, to the office, and to the classroom. The Instructor CD-ROM enables you to customize any of the ancillaries, print only the chapters or materials you wish to use, or access any item from the package within the classroom.

Guest Lecture Custom Case Videos: Now is your chance to have the Real People highlighted in the text visit your classroom! Issue-based segments include interviews and company footage from Real People at IWON.com, DDB Needham, Federated and more. These custom videos give you an inside look at the real challenges top marketers at real companies face on a day-to-day basis. Also includes segments from many companies not highlighted in the text.

Color Overhead Transparencies: Available as acetates or PowerPoint slides. Includes key figures from the text, key concepts, and additional print advertisements.

Innovative Online Courses: Content for WebCT, Blackboard, and CourseCompass courses is available. No technical expertise needed. Teach a complete online course or a Web-enhanced course. Add your own materials, take advantage of online testing and Gradebook opportunities, and use the bulletin board and discussion board functions. All courses are free to students with purchase of the text.

For the Instructor and Student

Companion Website: Go beyond the text. Our acclaimed Web resource provides professors and students with a customized course Website that features a complete array of teaching and learning material. For instructors: downloadable versions of the Instructor's Resource Manual and PowerPoint slides, plus additional resources such as current events and Internet exercises. Or, try the Syllabus Builder to plan your own course!

For students, an interactive Student Study Guide with quizzes, plus all of the Bookmark It! activities from the text. NEW! LiveLab feature gives students additional Think and Do Like a Marketer activities from the text and lets them contrast and compare their answers to other students using the text. Also includes behind the scenes "outtake" content, never published before footage from the video library.

For the Student

Solomon's Marketing Adventure—A one-of-a-kind companion for students. Includes chapter-by-chapter study aids and problems. PLUS a CD-ROM filled with hundreds of New York Festival's award-winning print advertisements with accompanying in and out of class activities.

Marketing Plan Pro and (NEW!) Marketing Plan: A Handbook. Marketing Plan Pro is a highly rated commercial software package that guides students through the entire marketing plan process. The software is totally interactive and features ten sample marketing plans, step-by-step guides and customizable charts. Customize your marketing plans to fit your marketing needs by following easy-to-use plan wizards. The New Marketing Plan: A Handbook, by Marian Burk Wood, supplements the in-text marketing plan material with an in-depth guide to what student marketers really need to know. The Software and Handbook are available as value-pack items with this text.

Navigating WebCT or Navigating BIackBoard—A Student's Guide. Beginning with a brief introduction to the Internet and the World Wide Web, these lively guides help students understand and master the basic navigation path through a WebCT or BIackBoard Online Course. Covers WebCT 3.7or BIackBoard 5.0+. The definitive off-line tool for the online student! These guides are available as a value-package option.

Editorial Reviews

An introductory text for undergraduates, bringing students inside large companies such as MTV Europe, Intel, and Marriott, as well as small businesses, through vignettes and chapter cases. Contains sections on marketing decision, markets, creating and managing a product, assigning value, product delivery, and communicating about the product. Unique pedagogical features include boxes on real-life marketers and decisions they make, on entrepreneurs and their products, and on ethical issues. Other aids are chapter summaries, key terms, review questions, Internet and other projects, cases with questions, and a math appendix, plus color photos. This second edition adds an entrepreneurial element, more Internet material, an ongoing end-of-section case, and coverage of electronic commerce. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews