Principles of Marketing 16th ED

Book Reviews: 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 programmers 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 closely 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. ‘ the authors are all customers now’, notes the author Peter Mullen, ‘in every area of customer inter-relationship from the supply and conscription 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 and business markets, profit and non-profit organizations, domestic and global companies, and small 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.

Bibliographical Data of Principles of Marketing 16th ED

Reference Type: Book
Record Number: xx
Author: Philip T. Kotler, Gary Armstrong
Year: 2015
Place Published: New York
Publisher: Pearson
Number of Pages: 736
Edition: 16th
ISBN -10: 0133795020
ISBN-13: 978-0133795028
Kindle Available: NO
Buy: Get it on Amazon

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