Marketing Management by Philip Kotler, Kevin Lane Keller (13 edition)

Marketing Management by Philip Kotler, Kevin Lane Keller (13 edition)

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persons, places, events, information, ideas, or organizations. As it has maintained its respected position among students, educators, and businesspeople, Marketing Management has kept up-to-date and contemporary. Students (and instructors) feel that the book is talk­ ing directly to them in terms of both content and delivery.

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719 pages, published in 2009

What Is Marketing Management All About?

Marketing Management is the leading marketing text because its content and organization consistently reflect changes in marketing theory and practice, The very first edition of Marketing Management, published in 1967, introduced the concept that companies must be customer-and-market driven, But there was little mention of what have now become funda­ mental topics such as segmentation, targeting, and positioning, Concepts such as brand equity, customer value analysis, database marketing, e-commerce, value networks, hybrid channels, supply chain management, and integrated marketing communications were not even part of the marketing vocabulary then, Marketing Management continues to reflect the changes in the marketing discipline over the past forty years,

Firms now sell goods and services through a variety of direct and indirect channels. Mass advertising is not nearly as effective as it was, so marketers are exploring new forms of com­ munication, such as experiential, entertainment, and viral marketing. Customers are telling companies what types of product or services they want and when, where, and how they want to buy them, They are increasingly reporting to other consumers what they think of specific companies and products-using e-mail, blogs, podcasts, and other digital media to do so, Company messages are becoming a smaller fraction of the total "conversation" about prod­ ucts and services,

In response, companies have shifted gears from managing product portfolios to manag­ ing customer portfolios, compiling databases on individual customers so they can under­ stand them better and construct individualized offerings and messages, They are doing less product and service standardization and more niching and customization, They are replac­ ing monologues with customer dialogues, They are improving their methods of measuring customer profitability and customer lifetime value. They are intent on measuring the return on their marketing investment and its impact on shareholder value, They are also concerned with the ethical and social implications of their marketing decisions,

As companies change, so does their marketing organization. Marketing is no longer a company department charged with a limited number of tasks-it is a company-wide under­ taking, It drives the company's vision, mission, and strategic planning, Marketing indudes decisions like who the company wants as its customers; which of their needs to satisfy; what products and services to offer; what prices to set; what communications to send and receive; what channels of distribution to use; and what partnerships to develop, Marketing succeeds only when all departments work together to achieve goals: when engineering designs the right products, finance furnishes the required funds, purchasing buys high-quality materials, production makes high-quality products on time, and accounting measures the profitability of different customers, products, and areas,

To address all these different shifts, good marketers are practicing holistic marketing. Holistic marketing is the development, design, and implementation of marketing programs, processes, and activities that recognize the breadth and interdependencies oftoday's market­ ing environment. Four key dimensions of holistic marketing are:

Philip Kotler, Kevin Lane Keller