Texas A & M University Chapter 11 Marketing Communication and Advertisement Summary A total of 650 words are needed for both Summary and graduate level res

Texas A & M University Chapter 11 Marketing Communication and Advertisement Summary A total of 650 words are needed for both Summary and graduate level responses. Please help in writing Summary for chapters 11, 12, 13.Also, provide a graduate-level response to each of the following questions:Imagine you were designing an ad for a (choose one): car, laptop, health clinic. What would your ad look like if you were targeting: a) old people, b) kids, c) super rich people, d) What celebrity would you have endorse your brand? Why? Create a press kit that will be sent to customers and the media announcing a new product launch.Have you ever recommended a particular product to a friend or bought a product based on a recommendation from a friend. Would you be more likely to buy a product based on word-of-mouth or advertising? Why? Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202
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Marketing Management, Fifth Edition
Dawn Iacobucci
Senior Vice President, General Manager,
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BRIEF CONTENTS
Preface x
About the author xii
Part 1
Part 2
Part 3
Marketing Strategy
1
Why is Marketing Management Important? 1
2
Customer Behavior
3
Segmentation 32
4
Targeting 51
5
Positioning 63
13
Product Positioning
6
Products: Goods and Services 79
7
Brands 91
8
New Products and Innovation 109
Positioning via Price, Place,
and Promotion
9
Pricing 131
10 Channels of Distribution 161
11 Advertising Messages and Marketing Communications 185
12 Integrated Marketing Communications and Media Choices 205
13 Social Media 224
Part 4
Positioning: Assessment Through
the Customer Lens
14 Customer Satisfaction and Customer Relationships 239
15 Marketing Research Tools 256
Part 5
Capstone
16 Marketing Strategy 275
17 Marketing Plans 293
Endnotes 312
Index 316
iii
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202
CONTENTS
Preface
x
About the author
xii
Part 1 Marketing Strategy
1
Why Is Marketing Management
Important? 1
1-1 Defining Marketing 1
1-2 Marketing Is an Exchange Relationship 1
1-2a Marketing is Everywhere 2
1-3 Why Is Marketing Management Important? 2
1-3a Marketing and Customer Satisfaction is
Everyone’s Responsibility 4
1-4 The “Marketing Framework”: 5Cs, STP, and the 4Ps 5
1-4a Book Layout 7
1-4b Learning from the Marketing Framework 8
1-4c The Flow in Each Chapter: What? Why? How? 9
2
Customer Behavior
13
2-1 Three Phases of the Purchase Process 13
2-2 Different Kinds of Purchases 15
2-3 The Marketing Science of Customer Behavior
2-3a Sensation and Perception 18
2-3b Learning, Memory, and Emotions 20
2-3c Motivation 22
2-3d Attitudes and Decision Making 25
2-3e How Do Cultural Differences Affect
Consumers’ Behavior? 27
3
Segmentation
18
32
3-1 Why Segment? 32
3-2 What Are Market Segments? 33
3-3 What Information Serves as Bases for Segmentation?
3-3a Demographic 35
3-3b Geographic 36
3-3c Psychological 37
3-3d Behavioral 39
3-3e B2B 40
3-3f Concept in Action: Segmentation Variables 41
35
iv
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Contents
3-4 How Do Marketers Segment
the Market? 42
3-4a How to Evaluate the
Segmentation Scheme 42
4
Targeting
51
4-1 What Is Targeting and Why
Do Marketers Do It? 51
4-2 How Do We Choose a Segment
to Target? 52
4-2a Profitability and Strategic Fit 52
4-2b Competitive Comparisons 54
4-3 Sizing Markets 56
4-3a Concept in Action: How Much of
My Consultative Advice Can I Sell? 58
5
Positioning
63
5-1 What Is Positioning and Why Is It Probably the Most Important
Aspect of Marketing? 63
5-1a Positioning via Perceptual Maps 64
5-1b The Positioning Matrix 66
5-2 Writing a Positioning Statement 74
Part 2 Product Positioning
6
Products: Goods and Services
79
6-1 What Do We mean by Product? 79
6-1a The Product in the Marketing Exchange 80
6-2 How Are Goods Different from Services? 81
6-2a Intangibility 81
6-2b Search, Experience, Credence 82
6-2c Perishability 83
6-2d Variability 83
6-2e To Infinity and Beyond Goods and Services 84
6-3 What Is the Firm’s Core Market Offering? 84
6-3a Dynamic Strategies 86
6-3b Product Lines: Breadth and Depth 87
7
Brands
91
7-1 What Is a Brand? 91
7-1a Brand Name 92
7-1b Logos and Color 92
7-2 Why Brand? 93
7-3 What Are Brand Associations?
7-3a Brand Personalities 97
7-3b Brand Communities 98
95
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v
vi
Contents
7-4 What Are Branding Strategies? 98
7-4a Umbrella Brands vs. House of Brands 99
7-4b Brand-Extensions and Co-Branding 100
7-4c How are Brands Best Rolled Out Globally? 103
7-4d Store Brands 103
7-5 How Is Brand Equity Determined? 104
8
New Products and Innovation
109
8-1 Why Are New Products Important? 109
8-2 How Does Marketing Develop New Products for
Their Customers? 110
8-2a Philosophies of Product Development 110
8-2b Marketing 111
8-2c Idea Creation and Market Potential 112
8-2d Concept Testing and Design & Development 113
8-2e Beta-Testing 115
8-2f Launch 116
8-3 What Is the Product Life Cycle? 118
8-3a Diffusion of Innovation 120
8-4 How Do New Products and Brand Extensions Fit in
Marketing Strategy? 124
8-4a Strategic Thinking about Growth 125
8-5 What Trends Should I Watch? 126
Part 3 Positioning via Price, Place,
and Promotion
9
Pricing
131
9-1 Why Is Pricing so Important? 131
9-2 Background: Supply and Demand 131
9-3 Low Prices 136
9-3a Concept in Action: Break-Even for a Good 137
9-3b Concept in Action: Break-Even for a Service 139
9-4 High Prices 142
9-4a Using Scanner Data 142
9-4b Using Survey Data 144
9-4c Conjoint Analysis 144
9-5 Units or Revenue; Volume or Profits 145
9-6 Customers and the Psychology of Pricing 147
9-6a Price Discrimination, a.k.a. Segmentation Pricing 150
9-6b Quantity Discounts 151
9-6c Yield or Demand Management 152
9-7 Non-Linear Pricing 152
9-8 Changes in Cha-Ching 154
9-8a Pricing and the Product Life Cycle 154
9-8b Price Fluctuations 155
9-8c Coupons 155
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Contents
9-8d Competitive Strategy and Game Theory 155
9-8e Auctions 156
10
Channels of Distribution
161
10-1 What Are Distribution Channels, Supply Chain Logistics, and
Why Do We Use Them? 162
10-2 How to Design Smart Distribution Systems: Intensive or
Selective? 165
10-2a Push and Pull 167
10-3 Power and Conflict in Channel Relationships 168
10-3a Revenue Sharing 170
10-3b Integration 173
10-3c Retailing 175
10-3d Franchising 178
10-3e E-Commerce 179
10-3f Catalog Sales 180
10-3g Sales Force 181
10-3h Integrated Marketing Channels 182
11
12
Advertising Messages and Marketing
Communications 185
11-1 What Is Advertising? 187
11-2 Why Is Advertising Important? 187
11-3 What Marketing Goals Are sought from Advertising
Campaigns? 188
11-4 Designing Advertising Messages to Meet
Marketing and Corporate Goals 190
11-4a Cognitive Ads 191
11-4b Emotional Ads 193
11-4c Image Ads 195
11-4d Endorsements 196
11-5 How Is Advertising Evaluated? 198
11-5a Aad and Abrand 201
Integrated Marketing Communications
and Media Choices 205
12-1 What Media Decisions Are Made in Advertising Promotional
Campaigns? 205
12-1a Reach and Frequency and GRPs 207
12-1b Media Planning and Scheduling 209
12-2 Integrated Marketing Communications Across Media 210
12-2a Media Comparisons 212
12-2b Beyond Advertising 214
12-2c Choice Between Advertising and a Sales Force 215
12-2d The IMC Choices Depend on
the Marketing Goals 218
12-3 How Is the Effectiveness of Advertising
Media Measured? 220
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vii
viii
Contents
13
Social Media
224
13-1 What Are Social Media? 224
13-1a Types of Social Media 225
13-1b Word-of-mouth 226
13-2 What Are Social Networks? 227
13-2a Identifying Influentials 227
13-2b Recommendation Systems 228
13-2c Social Media ROI, KPIs, and Web Analytics 230
13-2d Pre-purchase: Awareness 230
13-2e Pre-purchase: Brand Consideration 231
13-2f Purchase or Behavioral Engagement 232
13-2g Post-purchase 233
13-2h How to Proceed? 234
Part 4 Positioning: Assessment Through
the Customer Lens
14
Customer Satisfaction
and Customer Relationships
239
14-1 What Are Customer Evaluations, and Why Do We Care? 239
14-2 How Do Consumers Evaluate Products? 240
14-2a Sources of Expectations 241
14-2b Expectation and Experience 243
14-3 How Do Marketers Measure Quality and Customer
Satisfaction? 245
14-4 Loyalty and Customer Relationship Management (CRM) 248
14-4a Recency, Frequency, and
Monetary Value (RFM) 249
14-4b Customer Lifetime Value (CLV) 251
15
Marketing Research Tools 256
15-1 Why Is Marketing Research
so Important? 256
15-2 Cluster Analysis for Segmentation 258
15-3 Perceptual Mapping for Positioning 260
15-3a Attribute-Based 260
15-4 Focus Groups for Concept Testing 264
15-5 Conjoint for Testing Attributes 265
15-6 Scanner Data for Pricing and Coupon Experiments and Brand
Switching 268
15-7 Surveys for Assessing Customer Satisfaction 270
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202
Contents
Part 4 Capstone
16
MARKETING STRATEGY
275
16-1 Types of Business and Marketing Goals 275
16-2 Marketing Strategy 278
16-2a Ansoff’s Product-Market Growth Matrix 278
16-2b The BCG Matrix 279
16-2c The General Electric Model 280
16-2d Porter and Strategies 281
16-2e Treacy and Wiersema Strategies 282
16-3 How to “Do” Strategy 283
16-3a SWOT’s S&W 284
16-3b SWOT’s O&T 285
16-4 Key Marketing Metrics to Facilitate Marketing Strategy
17
Marketing Plans
17-1
17-2
17-3
17-4
17-5
287
293
How Do We Put it All Together? 293
Situation Analysis: The 5Cs 294
STP 298
The 4Ps 300
Spending Time and Money 304
Endnotes
Index
312
316
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ix
PREFACE
There are several really good marketing management texts, yet this text was created because
the Cengage sales force recognized an opportunity. Existing texts present numerous lists of
factors to consider in a marketing decision but offer little guidance on how the factors, lists
and multiple decisions all fit together.
In this book, an overarching Marketing Framework, used in every chapter, shows how
all the pieces fit together. So, for example, when facing a decision about pricing, readers
must consider how pricing will impact a strategic element like positioning or a customer
reaction like loyalty and word of mouth. This book is practical, no-nonsense, and relatively
short, to further heighten its utility. Everyone is busy these days, so it’s refreshing when a
writer gets to the point. After this relatively quick read, MBAs and EMBAs should be able
to speak sensibly about marketing issues and contribute to their organizations.
Chapter Organization
The form of each chapter is very straightforward: The chapter’s concept is introduced by
describing what it is and why marketers do it, and the rest of the chapter shows how to do
it well. This what-why-and-how structure is intended to be extremely useful to MBA and
EMBA students, who will quickly understand the basic concepts, e.g., what is segmentation and why is it useful in marketing and business? The details are in the execution, so the
how is the focus of the body of the chapter.
Key Features
Each chapter opens with a managerial checklist of questions that MBA and EMBA students will be able to answer after reading the chapter. Throughout each chapter, boxes
present brief illustrations of concepts in action in the real world or elaborations on concepts
raised in the text, also drawing examples from the real business world. Chapters close with
a Managerial Recap that highlights the main points of the chapter and reviews the opening
checklist of questions. Chapters are also summarized in outline form, including the key
terms introduced throughout the chapter. There are discussion questions to ponder, as well
as video resources to serve as points for still further discussion. Each chapter contains a
Mini-Case that succinctly illustrates key concepts.
MindTap
The 5th edition of Marketing Management offers two exciting alternative teaching formats. Instructors can choose between either a hybrid print and digital offering or a version
that provides completely integrated online delivery through a platform called MindTap.
MindTap is a fully online, highly personalized learning experience built upon authoritative
x
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Preface
content. By combining readings, multimedia, activities, and assessments into a singular
Learning Path, MindTap guides students through their course with ease while promoting
engagement. Instructors personalize the Learning Path by customizing Cengage Learning
resources and adding their own content via apps that integrate into the MindTap framework seamlessly. Instructors are also able to incorporate the online component of Consumer
Behavior into a traditional Learning Management System (e.g. Blackboard, Canvas, D2L,
etc.) providing a way to manage assignments, quizzes and tests throughout the semester
Instructor Resources
Web resources for the book at www.cengagebrain.com provide the latest information in
marketing management. The Instructor’s Manual, Test Bank authored in Cognero, and
PowerPoint slides can be found there.
Acknowledgments
Cengage Learning’s people are the best! Special thanks to John Sarantakis (Content
Developer), Mike Roche (Senior Product Manager), Heather Mooney (Product Manager)
Jenny Ziegler (Senior Content Project Manager), Diane Garrity (Intellectual Property Analyst), Sarah Shainwald (Intellectual Property Project Manager) Laura Cheu (Copyeditor),
Ezhilsolai Periasamy (Project Manager), Manjula Devi Subramanian (Text Researcher),
Abdul Khader (Image Reasearcher), and Pushpa V. Giri (Proofreader).
As always, special thanks to the Cengage sales force. I will forever be grateful for your
notes of encouragement as we began this project. I hope you like Marketing Management 5.
Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. WCN 02-200-202
xi
ABOUT THE AUTHOR
DAWN IACOBUCCI
is the Ingram Professor of Marketing at the Owen
Graduate School of Management, Vanderbilt University (since 2007). She has
been Senior Associate Dean at Vanderbilt (2008-2010), and a professor of marketing
at Kellogg (Northwestern University, 1987-2004), Arizona (2001-2002), and Wharton
(Pennsylvania, 2004 to 2007). She received her M.S. in Statistics, and M.A. and Ph.D.
in Quantitative Psychology from the University of Illinois at Urbana-Champaign. Her
research focuses on modeling social networks and geeky high-dimensional analyses. She
has published in Journal of Marketing, Journal of Marketing Research, Harvard Business
Review, Journal of Consumer Psychology, International Journal of Research in Marketing,
Marketing Science, Journal of Service Research, Psychometrika, Psychological Bulletin, and Social
Networks. Iacobucci teaches Marketing Management and Marketing Models to Executives,
MBA and undergraduate students and multivariate statistics and methodological topics to
Ph.D. students. She has been editor of both Journal of Consumer Research and Journal of
Consumer Psychology. She edited Kellogg on Marketing, she is author of Mediation Analysis,
and co-author on Gilbert Churchill’s leading text, Marketing Research.
xii
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WHY IS MARKETING
MANAGEMENT IMPORTANT?
STP
5Cs
Customer
Company
Context
Collaborators
4Ps
Segmentation
Product
Targeting
Price
Positioning
Place
Competitors
1
Promotion
Managerial Checklist
What are the three phases of the buying process?
What kinds of purchases are there?
How do consumers make purchase decisions—and how can marketers use this information?
1-1 DEFINING MARKETING
Ask the average person, “What is marketing?” and they might say:
• “Marketing is sales and advertising.”
• “Marketers make people buy stuff they don’t need and can’t afford.”
• “Marketers are the people who call you while you’re trying to eat dinner.”
Unfortunately those comments are probably all deserved. The marketing profession, like
any other, has its issues. But in this book we’ll take a more enlightened view.
This chapter begins with an overview of marketing concepts and terms. We’ll see the
importance of marketing in today’s corporation. We’ll then present the Marketing Framework that structures the book and gives you a systematic way to think about marketing, and
we’ll define all the terms in the framework: 5Cs, STP, and 4Ps.
1-2 MARKETING IS AN EXCHANGE
RELATIONSHIP
Marketing is defined as an exchange between a firm and its customers.1 Figure 1.1 shows
the customer wants something from the firm, and the firm wants something from the
customer. Marketers try to figure out what customers want and how to provide it profitably.
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