Principles of Marketing

Markets are changing fast. New markets are emerging, trading blocks are
extending and communications channels about products and selling them are
changing at a revolutionary pace. The signs of this change are everywhere in this
text. Many people will use Principles of Marketing alongside its associated CDROM,
Interactive Marketing. An increasing number of references are now Website
addresses that anyone can access from their PC. Yet amid this turmoil some
issues remain the same. Products change continuously, but the great brands shine
through like storm-swept lighthouses: Coca-Cola, Nokia, Sony, BMW, Saab and
Shell, to name but a few.
Marketing is changing to meet the changing world. Marketing remains the
business activity that identifies an organization's customer needs and wants,
determines which target markets it can serve best and designs appropriate products,
services and programmes to serve these markets. However, marketing is
much more than an isolated business function - it is a philosophy that guides the
entire organization. The goal of marketing is to create customer satisfaction profitably
by building valued relationships with customers. The marketing people
cannot accomplish this goal by themselves. They must work cJosely with other
people in their company and with other organizations in their value chain, to
provide superior value to customers. Thus, marketing calls upon everyone in the
organization to 'think customer' and to do all that they can to help create and
deliver superior customer value and satisfaction. As Professor Stephen Burnett
says: 'In a truly great marketing organization, you can't tell who's in the marketing
department. Everyone in the organization has to make decisions based on the
impact on the consumer.'
Marketing is not solely advertising or selling. Real marketing is less about
selling and more about knowing what to make! Organizations gain market leadership
by understanding customer needs and finding solutions that delight through
superior value, quality and service. No amount of advertising or selling can
compensate for a lack of customer satisfaction. Marketing is also about applying
that same process of need fulfilment to groups other than the final consumer.
Paying customers are only one group of stakeholders in our society, so it is important
to reach out to others sharing our world.
Marketing is all around us. 'We are all customers now', notes the author Peter
Mullen, 'in every area of customer inter-relationship from the supply and
consrimption of education and health care to the queue in the Post Office and the
ride in an Inter-City express train, and in every financial transaction from the
buying of biscuits to the purchase of a shroud.' Marketing is not only for manufacturing
companies, wholesalers and retailers, but for all kinds of individuals and
organizations. Lawyers, accountants and doctors use marketing to manage
demand for their services. So do hospitals, museums and performing arts groups.
No politician can get the needed votes, and no resort the needed tourists, without
developing and carrying out marketing plans. Principles of Marketing helps
students learn and apply the basic concepts and practices of modern marketing
as used in a wide variety of settings: in product and service firms, consumer
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xvi • Preface
and business markets, profit and non-profit organizations, domestic and global
companies, and smail and large businesses.
People in these organizations need to know how to define and segment
markets and how to position themselves by developing need-satisfying products
and services for their chosen target segments. They must know how to price their
offerings attractively and affordably, and how to choose and manage the
marketing channel that delivers these products and services to customers. They
need to know how to advertise and promote their products and services, so that
customers will know about and want them. All of these demand a broad range of
skills to sense, serve and satisfy consumers.
People need to understand marketing from the point of view of consumers
and citizens. Someone is always trying to sell us something, so we need to recognize
the methods they use. When they are seeking jobs, people have to market
themselves. Many will start their careers within a sales force, in retailing, in
advertising, in research or in one of the many other marketing areas.
Principles of Marketing provides a comprehensive introduction to marketing,
taking a practical and managerial approach. It is rich in real-world illustrative
examples and applications, showing the major decisions that marketing managers
face in their efforts to balance the organization's objectives and resources against
the needs and opportunities in the global marketplace.
Recognizing Europe's internationalism, illustrative examples and cases are
drawn not from Europe alone, but also from North America, Japan, China, other
countries in south-east Asia, and Africa. Some examples and cases concentrate on
national issues, but many are pan-European and global cases that have an
exciting international appeal. Although they cover many markets and products,
the brands and customers used have been chosen to align closely with the experiences
or aspirations of readers. Some examples are about global brands, such as
Nike, Calvin Klein and Mercedes, while others cover interesting markets ranging
from jeans and beer to executive jets, mine sweepers and Zoo Doo.
Principles of Marketing describes and discusses the stories that reveal
the drama of modern marketing: Nike's powerful marketing; BM~\Vs entry into
the off-road market; the 8 watch mobile; Levi Strauss & Go.'s startling success
in finding new ways to grow globally; Apple Computers' and KFC's invasion
of Japan; Qantas's struggle in the south-east Asian airline market; 3M's legendary
emphasis on new-product development; MTV's segmentation of the European
music market; Virgin's lifestyle marketing; B & B's Euro-segmentation;
EuroDisney's disastrous adventure; Nestle's difficulty with pressure groups and
adverse publicity; Stena Sealink's quest for cross-channel passengers against Le
Shuttle and Eurostar. These and dozens of other illustrative examples throughout
each chapter reinforce the key concepts and techniques and bring marketing to
life.
Its clear writing style, contemporary approach, extensive use of practical
illustrative examples, and fresh and colourful design make this test easy to read,
lively and an enjoyable learning experience.
The Second European Edition
Following extensive market research throughout Europe, this Second European
Edition of Principles of Marketing provides significant improvements in content
and structure, illustrative examples and case material, pedagogical features and
text design.