This book is about marketing and marketing strategy planning. At its essence, marketing strategy planning is about figuring out how to do a superior job of satisfying customers. This author team takes that point of view seriously and believes in practicing what they preach. Instructors and students can trust that this new edition of Essentials of Marketing 13e- and all of the other teaching and learning materials that accompany it - will satisfy every instructor and students' needs.
Fundamentals of Marketing provides a sound appreciation of the fundamentals of the theory and practice of marketing. Using case studies drawn from a cross section of sectors, in particular the banking, hospitality, retail and public service sectors this textbook critically evaluates the effectiveness of different marketing strategies and approaches. Exploring the principles of marketing this volume engages the reader, not only in theory but also in practice, using a broad range of real-life case studies such as Coca Cola, Apple, FCUK, Virgin, Amazon.com, Barnes and Noble, Dyno Rod and New Zealand wool.
The text analyzes the marketing mix: product development, pricing, promotion (and communications marketing) and place (channels of distribution). It also emphasizes the role of Marketing Information Systems (MIS) using internal reporting, marketing intelligence and marketing research including the contribution from marketing research agencies and reviews the role of technology, e-commerce and the Internet in supporting successful marketing.
Featuring a support website that provides student and lecturer resources, Fundamentals of Marketing conveys the main principles of marketing in a challenging yet accessible manner and provides the reader with insights into the workings of marketing today.
Visit the Companion website at www.routledge.com/textbooks/9780415370974
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The author contrasts Adam Smith's market to the prevailing American market stating that, in order to achieve the same results that Adam Smith's perfectly competitive market could have created, a socially responsible behavior on the part of marketing is necessary. Marketing can achieve greater profits and higher quality of life for the whole society by being consumer oriented and proactive, and by considering consumers' well-being the highest priority. Marketing must reach out and cater to, not only the mainstream core markets, but to those who are less than equal opportunity consumers. These are special market segments such as the poor, elderly, minorities, and those who are particularly vulnerable. Marketing must also develop environment and consumer-friendly products and services. The prevailing market conditions in the United States are in favor of certain select groups. Furthermore, many conditions in the existing market are borderline pathological and need to be corrected. In addition to these, there are those consumers who are very vulnerable such as the elderly, the poor, the undereducated, and the frail. These groups cannot make the best purchase decisions nor do they have access to many facets of the market. Marketing must make a special effort to provide education, information, and protection for them and must bring as many people as possible into the mainstream of the economy. Unless marketing can take a proactive position and bring about products and services that are good, functional, and non-hazardous, consumers will not be able to optimize their purchase decisions.
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