Markeing Managment Essay Example

Markeing Managment Paper Advertising Management Knowledge and Skills Tenth Edition J. Paul Peter University of Wisconsin-Madison James H. Donnelly, Jr. /University of Kentucky Me Graw Hill McGraw-Hill Irwin Contents SECTION 1 ESSENTIALS OF MARKETING MANAGEMENT 1 Processing of Research Data 3 7 Preparation of the Research Report 38 Limitations of the Research Process 38 Marketing Information Systems Conclusion 41 40 PART An INTRODUCTION 3 Chapter 3 Consumer Behavior 42 Chapter 1 Strategic Planning and the Marketing Management Process 4 The Marketing Concept 4 What Is Marketing? What Is Strategic Planning? Social Influences on Consumer Decision Making 43 Culture and Subculture 43 Social Class 44 Reference Groups and Families 6 45 6 Strategic Planning and Marketing Management The Strategic Planning Process 7 The Complete Strategic Plan 16 Marketing Influences on Consumer Decision Making 45 Product Influences 45 Price Influences 45 Promotion Influences 46 Place Influences 46 20 The Marketing Management Process 1 6 Circumstance Analysis 16 * Marketing Planning 19 Implementation and Control of the Marketing Plan Marketing Information Systems and Marketing Research 21 Situational Influences on Consumer Decision Making 47 Psychological Influences on Consumer Decision Making 47 Product Knowledge 47 Product Involvement 48 The Strategic Plan, The Marketing Plan, and Other Functional Area Plans 21 Marketings Role in Cross-Functional Strategic Planning 21 Consumer Decision Making Need Recognition 49 †¢ Alternative Search 50 Alternative Evaluation 51 Purchase Decision 51 Postpurchase Evaluation 52 48 Conclusion 22 Appendix Portfolio Models 25 PART B MARKETING INFORMATION, RESEARCH, AND UNDERSTANDING THE TARGET MARKET 29 Chapter 2 Marketing Research: Process and Systems for Decision Making 30 The Role of Marketing Research 30 The Marketing Research Process 31 Purpose of the Research 31 Plan of the Research 32 Performance of the Research 37 xii Conclusion 54 Chapter 4 Business, Government, and Institutional Buying 55 Classes of Organizational Buyers Producers 55 Intermediaries 56 Government Agencies 56 Other Institutions 56 55 The Organizational Buying Process 56 Purchase-Type Influences on Organizational Buying 57 Straight Rebuy 57 Contents Modified Rebuy 57 New Task Purchase 5 7 xiii Structural Influences on Organizational Buying Purchasing Roles 58 Organization-Specific Factors 59 Purchasing Policies and Procedures 59 58 Chapter 7 New Product Planning and Development 98 New Product Strategy 99 New Product Planning and Development Process 101 We will compose a custom paper test on Markeing Managment explicitly for you for just $16.38 $13.9/page Request now We will compose a custom paper test on Markeing Managment explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom article test on Markeing Managment explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer Social Influences on Organizational Buying Personal Motivations Role Perceptions 60 Stages in the Organizational Buying Process Organizational Need 63 Vendor Analysis 63 Purchase Activities 63 Postpurchase Evaluation 63 62 Idea Generation 101 Idea Screening 103 Project Planning 104 Product Development 105 Test Marketing 105 Commercialization 106 The Importance of Time 106 Some Important New Product Decisions Quality Level 107 Product Features 108 Product Design 108 Product Safety 109 107 Conclusion 65 Part 5 Market Segmentation 66 Delineate the Firms Current Situation 66 Determine Consumer Needs and Wants 67 Divide Markets on Relevant Dimensions 67 A Priori versus Post Hoc Segmentation 68 Relevance of Segmentation Dimensions 68 Bases for Segmentation 69 Causes of New Product Failure Needfor Research 109 Conclusion 111 Develop Product Positioning 75 Decide Segmentation Strategy 76 Design Marketing Mix Strategy 77 Conclusion 78 Chapter 8 Integrated Marketing Communications Strategic Goals of Marketing Communication Make Awareness 112 Build Positive Images 112 Identify Prospects 112 Build Channel Relationships Retain Customers 113 112 PARTC THE MARKETING MIX 79 Chapter 6 Product and Brand Strategy Basic Issues in Product Management Product Definition 80 Product Classification 81 Product Quality and Value 82 Product Mix and Product Line 83 Branding and Brand Equity 84 Packaging 88 113 The Promotion Mix 113 Integrated Marketing Communications 114 Advertising: Planning and Strategy 116 80 Objectives ofAdvertising 116 Advertising Decisions 16 The Expenditure Question 117 The Allocation Question 120 Sales Promotion 124 Product Life Cycle The Product Audit 90 93 Push versus Pull Marketing 124 Trade Sales Promotions 125 Consumer Promotions 126 What Sales Promotion Can and Cant Do 126 Product Adoption and Diffusion 93 95 Deletions 93 Product Improvement Organizing for Product Management Conclusion 97 95 Public Relations 128 Direct Marketing 128 Conclusion 129 Appendix Major Federal Agencies Involved in Control of Advertising 131 xiv Contents Chapter 9 Individual Selling, Relationship Building, and Sales Management 132 Importance of Personal Selling 132 The Sales Process 133 Objectives of the Sales Force 133 The Sales Relationship-Building Process 134 People Who Support the Sales Force 140 Managing the Sales and Relationship-Building Process 141 The Sales Management Task 141 Controlling the Sales Force 142 Motivating and Compensating Performance 146 Conclusion 146 Estimate Costs and Other Price Limitations 170 Analyze Profit Potential 171 Set Initial Price Structure 171 Change Price varying 172 Conclusion 172 PARTD MARKETING IN SPECIAL FIELDS 173 Chapter 12 The Marketing of Services 174 Important Characteristics of Services 176 Intangibility 176 Inseparability 177 Perishability and Fluctuating Demand 178 Client Relationship 178 Customer Effort 179 Uniformity 180 Providing Quality Services 180 Customer Satisfaction Measurement 182 The Importance of Internal Marketing 182 Overcoming the Obstacles in Service Marketing Limited View of Marketing 184 Limited Competition 184 Noncreative Management 185 No Obsolescence 185 The Service Challenge 186 Banking 186 Health Care 186 Insurance 187 Travel 187 Implications for Service Marketers 188 Conclusion 189 Section 10 Distribution Strategy 148 The Need for Marketing Intermediaries 148 Classification of Marketing Intermediaries and Functions 148 Channels of Distribution 150 Selecting Channels of Distribution 151 Specific Considerations 151 Managing a Channel of Distribution 154 Relationship Marketing in Channels 154 Vertical Marketing Systems 154 Wholesaling 157 Store and Nonstore Retailing 15 8 Store Retailing 158 Nonstore Retailing 159 Conclusion 162 184 Chapter 11 Pricing Strategy 63 Demand Influences on Pricing Decisions 163 Demographic Factors 163 Psychological Factors 163 Price Elasticity 164 Supply Influences on Pricing Decisions 165 Pricing Objectives 165 Cost Considerations in Pricing 165 Product Considerations in Pricing 167 Environmental Influences on Pricing Decisions Competition 168 Government Regulations 168 A General Pricing Model 169 Set Pricing Objectives 169 Evaluate Product-Price Relationships 169 Chapter 13 Global Marketing 190 The Competitive Advantage of Nations 191 Organizing for Global Marketing 192 Problems with Entering Foreign Markets 192 Organizing the Multinational Company 195 Programming for Global Marketing 197 Global Marketing Research 197 Global Product Strategy 200 Global Distribution Strategy 200 Global Pricing Strategy 201 Global Advertising and Sales Promotion Strategy 201 Entry and Growth Strategies for Global Marketing 202 Conclusion 205 168 Contents xv SECTION 2 ANALYZING MARKETING PROBLEMS AND CASES 207 A Case Analysis Framework 208 1. Break down and Record the Current Situation 209 2. Break down and Record Problems and Their Core Elements 213 3. Define, Evaluate, and Record Alternative Courses ofAction 214 4. Select and Record the Chosen Alternative and Implementation Details 215 Pitfalls to Avoid in Case Analysis 215 Communicating Case Analyses 218 The Written Report 218 The Oral Presentation 220 Conclusion 220 Exercise 7 238 Pricing Issues on the Internet 238 Exercise 8 238 Selecting the Internet as a Distribution Channel 238 Exercise 9 239 Internet Advertising 239 Exercise 10 239 The Adaptation of Services to the Internet 239 Exercise 11 240 Marketing Communications Techniques in the Internet Age 240 Web SOURCES OF MARKETING INFORMATION 241 Charles Heath: Eastern Kentucky University Corporate Web Sites 242 Search Engines and Directories 242 Government Sites 243 Business Publications 243 Newspapers 244 National Papers 244 Large City Papers 244 International Papers 245 Regional Papers 245 General Business Sites 245 Internet Marketing Reference Sites 246 Compilation Sites 246 SECTION 3 FINANCIAL ANALYSIS FOR MARKETING DECISIONS 221 Financial Analysis 222 Break-Even Analysis 222 Net Present Value Analysis 224 Ratio Analysis 226 Conclusion 230 Segment 4 INTERNET EXERCISES AND SOURCES OF MARKETING INFORMATION 231 PART An INTERNET EXERCISES 233 Charles Heath: Eastern Kentucky University Exercise 1 234 Corporate Web Sites 234 Exercise 2 234 Online versus Offline Retail Experiences 234 Exercise 3 235 Consumer Decision-Making Process 235 Exercise 4 236 Discovering Product Assortments Online 236 Exercise 5 236 Brand Equity on the Internet 236 Exercise 6 237 The Impact of Communities on Marketing 237 5 MARKETING MANAGEMENT CASES 247 MARKET OPPORTUNITY ANALYSIS 249 Case! McDonalds Corporation 250 I Paul Peter and Ashish Gokhale: University of Wisconsin-Madison Case 2 Southwest Airlines 2008 257 Andrew C. Inkpen: Thunderbird School of Global Management xvi Contents Case 3 South Delaware Coors, Inc. CASE GROUPC 271 PROMOTION STRATEGY 373 James E. Nelson and Eric J. Karson: University of Colorado Case 4 Ruths Chris: The High Stakes of International Expansion 280 Allen H. Kupetz and lion Alon: University of Western Ont

Practice in Using Commas and Semicolons Correctly

Practice in Using Commas and Semicolons Correctly This activity offers practice in applying the guidelines for utilizing commas and semicolons accurately. Before endeavoring the activity, you may think that its accommodating to survey these three pages: Rules for Using Commas EffectivelyHow to Use the SemicolonSemicolons, Colons, and Dashes All through the accompanying two sections, you will locate various void matched sections: [ ]. Supplant each arrangement of sections with a comma or a semicolon, remembering that the essential utilization of a semicolon is to isolate two fundamental provisos not joined by an organizing combination. At the point when you are done, contrast your work and the effectively punctuated renditions of the two sections on page two. Exercise: Pasta Pasta[ ] an enormous group of shaped[ ] dried wheat pastes[ ] is an essential staple in numerous nations. Its roots are dark. Rice glues were known right on time in China[ ] glues made of wheat were utilized in India and Arabia some time before they were brought into Europe in the eleventh or twelfth century. As indicated by legend[ ] Marco Polo carried a pasta formula with him from Asia in 1295. Pasta immediately turned into a significant component in the Italian diet[ ] and its utilization spread all through Europe. Pasta is produced using durum wheat flour[ ] which makes a strong[ ] versatile batter. Hard durum wheat has the most elevated wheat protein esteem. The flour is blended in with water[ ] plied to frame a thick paste[ ] and afterward constrained through punctured plates or bites the dust that shape it into one of in excess of 100 unique structures. The macaroni bite the dust is an empty cylinder with a steel pin in its center[ ] the spaghetti bite the dust comes up short on the steel pin and creates a strong chamber of glue. Strip pasta is made by compelling the glue through slim cuts in a die[ ] shells and other bended shapes are delivered with progressively many-sided kicks the bucket. The formed mixture is dried cautiously to diminish the dampness substance to around 12 percent[ ] and appropriately dried pasta should stay eatable uncertainly. Pastas can be shaded with spinach or beet juice. The expansion of egg delivers a richer[ ] yellower pasta that is normally made in noodle stru cture and is regularly sold undried. At the point when you are done, contrast your work and the effectively punctuated renditions of the two passages on page two. Here are the two sections that filled in as the model for the accentuation practice on page one. Unique Paragraphs: Pasta Pasta, a huge group of molded, dried wheat glues, is a fundamental staple in numerous nations. Its starting points are dark. Rice glues were known from the get-go in China; glues made of wheat were utilized in India and Arabia some time before they were brought into Europe in the eleventh or twelfth century. As per legend, Marco Polo carried a pasta formula with him from Asia in 1295. Pasta immediately turned into a significant component in the Italian eating regimen, and its utilization spread all through Europe. Pasta is produced using durum wheat flour, which makes a solid, flexible batter. Hard durum wheat has the most noteworthy wheat protein esteem. The flour is blended in with water, plied to frame a thick glue, and afterward constrained through punctured plates or kicks the bucket that shape it into one of in excess of 100 unique structures. The macaroni bite the dust is an empty cylinder with a steel pin in its middle; the spaghetti bite the dust comes up short on the steel pin and creates a strong chamber of glue. Strip pasta is made by driving the glue through slim cuts in a pass on; shells and other bended shapes are created with progressively unpredictable kicks the bucket. The formed batter is dried cautiously to lessen the dampness substance to around 12 percent, and appropriately dried pasta should stay consumable uncertainly. Pastas can be hued with spinach or beet juice. The expansion of egg delivers a more extravagant, yellower pasta that is normally made in noodle structure and is regularly sold undried.

How Much Parents Spend on Their Kids State by State

How Much Parents Spend on Their Kids State by State How Much Parents Spend on Their Kids State by State How Much Parents Spend on Their Kids State by StatePlus: how age, relationship status, and education level affect parental spending habits.As Mother’s Day approaches (it’s on Sunday, May 13th, in case you’ve forgotten), kids around the country are scrambling to find an acceptable gift for mom. After all, shes spent thousands of dollars on her little rugrats over the years, is it too much to ask for them to drop some cash for some nice flowers or brunch, or at the VERY least, put together an inspired macaroni portrait as a token of their undying appreciation?To honor the financial burden of motherhoodâ€"and fatherhoodâ€"we wanted to know just how much money parents were actually spending on their little bundles of joy. So we surveyed more than 1,000 moms and dads from all 50 states and asked them to tell us how much cash they drop on their kids every year. Guys, it turns out that having children is, like, really expensive?? Who knew!Just how expensive?  Across all 50 states, our data found that the average parent spends $9,470 every year on each of their kids, but those numbers can change pretty dramatically depending on where you live. For example, parents in Washington DC spend the most, dropping a hefty $17,920.50 (!!) on each kid annually, while parents in Montana spend the least, at only $2,000 per year.Thats only scratching the surface of what we found! To learn more, check out our awesome infographic below (click to expand) and then keep scrolling for even more tasty tidbits.(click image to expand)But what about the epic battle of mom versus dad? Well, um, here’s where things get a little awkward. See, we initially put this whole thing together to celebrate Mother’s Day, but our research found that it’s actually dads who spend more on their kids per year. According to our survey results, the typical American dad spends about $9,486 annually per kid, while the typical American mom spends just $8,789.  Its not much of a difference, and it can pr obably be explained by the fact that men, on average, make more money than women. (Or that moms are better are better at budgeting! Take that, DAD!) But still,  here’s a fun idea: Bring up this statistic to your mom during Mother’s Day brunch. Just make sure that you remember to duck when she chucks a waffle at your head.Meanwhile, we also looked at married versus single parents, with single dads out spending single moms by over $3,200 per year: $11,998 to $8,781. On the whole, married parents only spend $8,838 annually per kid, less than single, separated, and divorced parents. Younger parents, between the ages of 18 and 34 spend more on their kids than older parents (which makes sense, cuz babies are pricey).Parental spending in all 50 states (and Washington DC) ranked.We broke our survey results down state by state. Below you can see all 50 states and Washington DC ranked from the highest parental spender to the lowest.StateAverage SpendWashington DC$17,921North Carolina$17,6 66Iowa$17,200New Jersey$16,649New Hampshire$14,150New York$13,399Michigan$13,303North Dakota$13,000Illinois$12,404Nevada$12,333Pennsylvania$11,847Arizona$11,518Vermont$10,595Nebraska$10,371California$10,197Delaware$9,746Massachusetts$9,688Maryland$9,627Connecticut$9,608Florida$8,361South Carolina$8,250Ohio$7,615Texas$7,159Kentucky$7,092Georgia$6,921Rhode Island$6,800Maine$6,577Mississippi$6,571Tennessee$6,413Oregon$6,300Virginia$6,226Missouri$5,707New Mexico$5,240Alaska$5,000Kansas$4,800Minnesota$4,754Washington$4,618Indiana$4,543Colorado$4,340Wyoming$4,333Wisconsin$4,246Alabama$4,021Utah$4,014South Dakota$3,867West Virginia$3,320Arkansas$3,290Hawaii$3,000Louisiana$2,868Idaho$2,383Oklahoma$2,019Montana$2,000North vs. South. No, we’re not talking about the whole United States. We’re talking about North Carolina and North Dakota versus South Carolina and South Dakota.North Carolina parents are the second highest spenders ($17,666) and North Dakotans are the eighth highest ($13,000 ). And both spend over $9,000 more than their southern counterparts. South Carolina parents spend $8,250 and South Dakota parents spending only $3,867, ranking 44th.Basically, if you’re a kid living in South Dakota or South Carolina, do everything in your power to get your parents to move north. Before you know it, theyll be showering you with cash.We also broke the results down by region. To see exactly which states we counted in each region, check out the infographic above!RegionAverage SpendMidwest$9,337Northeast$11,723South$8,106West$8,192Why does the Northeast spend so much more? We’re not entirely sure, but that has never stopped us from speculating wildly. The Northeast is a fairly expensive region of the country, so maybe that $11,723 is really the same as $8,000 once you adjust for incomes and cost of living.Or maybe it’s because New Englanders are legally required to send their children to ornate, expensive boarding schools covered in parapets and ivy and gargoyles w here they play lacrosse and stand on their desks in poetry class and (checks book of “New England Stereotypes”) eat a lot of Dunkin Donuts?Parental spending by age group, education level, and relationship status.We did more than ask people about where they live; we also asked them their age, how much education theyve received, and whether they are married, divorced, etc. These questions all unearthed interesting trends.Age GroupAverage Spend18-24$10,05625-34$10,33735-44$8,82445-54$8,31254+$5,669Parental spending by age is the most straightforward. Younger parents who responded to the survey, ages 18-35, spend more than middle-aged parents, ages 35-54, who spend quite a bit more than parents aged 54 or up.This makes a lot of sense. Younger parents are pretty much guaranteed to have younger children, who cost more to keep alive and happy than older kids. Meanwhile, parents aged 54 and up are much more likely to have children who are grown adults. At that point, their kids should b e spending money on them!Relationship StatusAverage SpendDivorced$9,232Living with partner$9,830Married$8,368Separated$12,417Single$10,173Widowed$2,088The financial hardship of single parenting. Respondents who are married spend less per kid ($8,368) than pretty much any other groupâ€"with the notable exception of widowed respondents, who spend way less.Parents who are divorced spend almost $1,000 per year more per kid ($9,232) than married parents, while parents who are single ($10,173) or are unmarried but living with their partner ($9,830) spend $1,500-$2,000 more than their married counterparts.Meanwhile, parents who are separated but not divorced spend almost $4,000 than married parents, at $12,417 per year.All in all, this data points to two-parent households spending less on their kids per partner than split or single parent homes. A two-person parenting unit means that the financial burden doesn’t all fall on one person.Education LevelAverage SpendHigh school$9,065Bachelor s$11,604Postgraduate$9,332Is that graduate degree really worth it? It probably doesn’t surprise you to see that respondents with bachelor’s degrees had a higher rate of parental spending than respondents with only high school degrees. But what’s going on with parents rocking postgraduate degrees?  Their per-child spending is only a few hundred dollars more than parents with just a high school diploma. We can’t be sure, but the high cost of student debt and the dodgy job prospects for some post-grads point to fewer available funds.Maybe that graduate degree you’ve been considering isn’t worth the high costs? It’s worth thinking about. So is having kids, for that matter. If you’re considering starting a family in the near future, really sit down and figure out the costs of raising a child. In other words, get ready to kiss all your disposable income goodbye.Oh, and if this post hasn’t convinced you already, make sure you buy your mom something nice for Mother’s day . Look at how much moms are spending on their kids. You owe her. If you’re a parent, we’d love to know how much you spend on your kids! You can  email us  or you can find us on  Facebook  and  Twitter.