By J. Paul Peter, James Donnelly Jr.
Preface to advertising administration, 14e, through Peter and Donnelly, is praised available in the market for its transparent and concise presentation of the elemental ideas of promoting in one of these manner that the middle recommendations and ideas are coated in adequate intensity to make sure realizing. by means of delivering an interesting, transparent, and conceptually sound textual content, this booklet has been in a position to retain its place as a number one advertising and marketing administration text.
The fourteenth version serves as an summary for severe matters in advertising and marketing administration. Its short, low-cost, paperback layout makes it an ideal healthy for teachers who assign circumstances, readings, simulations or supply modules on advertising and marketing administration for MBA scholars. The textual content additionally works in classes that enforce a cross-functional curriculum the place the scholars are required to buy numerous texts.
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Additional resources for A Preface to Marketing Management (14th Edition)
No matter how appealing an opportunity may be, to gain advantage over competitors, the organization must formulate strategy based on distinctive competencies. Diversification: An organizational strategy that seeks growth through new products (often through acquisitions) for customers not currently being served. Market development: An organizational strategy that seeks growth through seeking new customers for present products. Market penetration: An organizational strategy that seeks growth through increasing the sale of present products to present customers.
Developing the Marketing Mix The marketing mix is the set of controllable variables that must be managed to satisfy the target market and achieve organizational objectives. These controllable variables are usually classified according to four major decision areas: product, price, promotion, and place (or channels of distribution). The importance of MARKETING INSIGHT Examples of Marketing Objectives 1–8 Poorly Stated Objectives Our objective is to be a leader in the industry in terms of new product development.
Because team members are responsible for all activities involving their products and/or customers, they are responsible for strategic planning. This means that all personnel working in a cross-functional team will participate in creating a strategic plan to serve customers. Rather than making decisions independently, marketing managers work closely with team members from production, finance, human resources, and other areas to devise plans that address all concerns. Thus, if a team member from production says, “That product will be too difficult to produce,” or if a team member from finance says, “We’ll never make a profit at that price,” the team members from marketing must help resolve the problems.
A Preface to Marketing Management (14th Edition) by J. Paul Peter, James Donnelly Jr.