Principles of Marketing 17th Edition
The Seventeenth Edition of Kotler/Armstrong’s Principles of Marketing! Setting the World Standard in Marketing Education
These are exciting times in marketing. Recent surges in digital technologies have created a new, more engaging, more connected marketing world. Beyond traditional tried-and-true marketing concepts and practices, today’s marketers have added a host of new-age tools for engaging consumers, building brands, and creating customer value and relationships.
In these digital times, sweeping advances in “the Internet of Things”—from social and mobile media, connected digital devices, and the new consumer empowerment to “big data” and new marketing analytics—have profoundly affected both marketers and the consumers they serve.
All around the world—across five continents, more than 40 countries, and 24 languages—students, professors, and business professionals have long relied on Kotler/Armstrong’s Principles of Marketing as the most-trusted source for teaching and learning about the latest developments in basic marketing concepts and practices. More than ever, the seventeenth edition introduces new marketing students to the fascinating world of modern marketing in a complete and authoritative yet fresh, practical, and engaging way. Once again, we’ve added substantial new content and poured over every page, table, figure, fact, and example in order to make this the best text from which to learn about and teach marketing. Enhanced by MyMarketingLab, our online homework and personalized study tool, the seventeenth edition of Principles of Marketing remains the world standard in introductory marketing education.
Marketing: Creating Customer Value and Engagement in the Digital and Social Age
Top marketers share a common goal: putting the consumer at the heart of marketing. Today’s marketing is all about creating customer value and engagement in a fast-changing, increasingly digital and social marketplace. Marketing starts with understanding consumer needs and wants, determining which target markets the organization can serve best, and developing a compelling value proposition by which the organization can attract and grow valued consumers. Then, more than just making a sale, today’s marketers want to engage customers and build deep customer relationships that make their brands a meaningful part of consumers’ conversations and lives.
In this digital age, to go along with their tried-and-true traditional marketing methods, marketers have a dazzling set of new online, mobile, and social media tools for engaging customers anytime, anyplace to jointly shape brand conversations, experiences, and community. If marketers do these things well, they will reap the rewards in terms of market share, profits, and customer equity. In the seventeenth edition of Principles of Marketing, you’ll learn how customer value and customer engagement drive every good marketing strategy.
What’s New in the Seventeenth Edition?
We’ve thoroughly revised the seventeenth edition of Principles of Marketing to reflect the major trends and forces that affect marketing in this digital age of customer value, engagement, and relationships. Here are just some of the major and continuing changes you’ll find in this edition.
• The seventeenth edition adds fresh coverage in both traditional marketing areas and on fast-changing and trending topics such as customer engagement marketing, mobile and social media, big data and the new marketing analytics, the Internet of Things, omni-channel marketing and retailing, customer co-creation and empowerment, realtime customer listening and marketing, building brand community, marketing content creation and native advertising, B-to-B social media and social selling, monetizing social media, tiered and dynamic pricing, consumer privacy, sustainability, global marketing, and much more.
• This new edition continues to build on its customer engagement framework—creating direct and continuous customer involvement in shaping brands, brand conversations, brand experiences, and brand community. New coverage and fresh examples throughout the text address the latest customer engagement tools, practices, and developments. See especially Chapter 1 (refreshed sections on Customer Engagement and Today’s Digital and Social Media and Consumer-Generated Marketing); Chapter 4 (big data and real-time research to gain deeper customer insights); Chapter 5 (creating social influence and customer community through digital and social media marketing); Chapter 9 (customer co-creation and customer-driven new-product development); Chapter 13 (omni-channel retailing); Chapters 14 and 15 (marketing content curation and native advertising); Chapter 16 (sales force social selling); and Chapter 17 (direct digital, online, social media, and mobile marketing).
• No area of marketing is changing faster than online, mobile, social media, and other digital marketing technologies. Keeping up with digital concepts, technologies, and practices has become a top priority and major challenge for today’s marketers. The seventeenth edition of Principles of Marketing provides thoroughly refreshed, up-todate coverage of these explosive developments in every chapter—from online, mobile, and social media engagement technologies discussed in Chapters 1, 5, 14, 15, and 17 to “real-time listening” and “big data” research tools in Chapter 4, real-time dynamic pricing in Chapter 11, omni-channel retailing in Chapter 13, and social selling in Chapter 16. A Chapter 1 section on The Digital Age: Online, Mobile, and Social Media Marketing introduces the exciting new developments in digital and social media marketing. Then a Chapter 17 section on Direct, Online, Social Media, and Mobile Marketing digs more deeply into digital marketing tools such as online sites, social media, mobile ads and apps, online video, email, blogs, and other digital platforms that engage consumers anywhere, anytime via their computers, smartphones, tablets, internet-ready TVs, and other digital devices.
• The seventeenth edition continues to track fast-changing developments in marketing communications and the creation of marketing content. Marketers are no longer simply creating integrated marketing communications programs; they are joining with customers and media to curate customer-driven marketing content in paid, owned, earned, and shared media. You won’t find fresher coverage of these important topics in any other marketing text.
• The seventeenth edition of Principles of Marketing continues to improve on its innovative learning design. The text’s active and integrative presentation includes learning enhancements such as annotated chapter-opening stories, a chapter-opening objective outline, explanatory author comments on major chapter sections and figures, and Real Marketing highlights that provide in-depth examples of marketing concepts and practices at work. The chapter-opening layout helps to preview and position the chapter and its key concepts. Figures annotated with author comments help students to simplify and organize chapter material. New and substantially revised end-of-chapter fea tures help to summarize important chapter concepts and highlight important themes, such as marketing ethics, financial marketing analysis, and online, mobile, and social media marketing. This innovative learning design facilitates student understanding and eases learning.
• The seventeenth edition provides 18 new end-of-chapter company cases by which students can apply what they learn to actual company situations. It also features 16 new video cases, with brief end-of-chapter summaries and discussion questions. Finally, all of the chapter-opening stories, Real Marketing highlights, and end-of-chapter features in the seventeenth edition are either new or revised.
• New material throughout the seventeenth edition highlights the increasing importance of sustainable marketing. The discussion begins in Chapter 1 and ends in Chapter 20,Preface 19 which pulls marketing together under a sustainable marketing framework. In between, frequent discussions and examples show how sustainable marketing calls for socially and environmentally responsible actions that meet both the immediate and the future needs of customers, companies, and society as a whole.
• The seventeenth edition provides new discussions and examples of the growth in global marketing. As the world becomes a smaller, more competitive place, marketers face new global marketing challenges and opportunities, especially in fast-growing emerging markets such as China, India, Brazil, Africa, and others. You’ll find much new coverage of global marketing throughout the text, starting in Chapter 1 and discussed fully in Chapter 19.
Part 1 Defining Marketing and the Marketing Process 26
1 Marketing: Creating Customer Value and Engagement 26
2 Company and Marketing Strategy: Partnering to Build Customer Engagement,
Value, and Relationships 62
Part 2 Understanding the Marketplace and Consumer Value 90
3 Analyzing the Marketing Environment 90
4 Managing Marketing Information to Gain Customer Insights 122
5 Consumer Markets and Buyer Behavior 156
6 Business Markets and Business Buyer Behavior 186
Part 3 Designing a Customer Value–Driven Strategy and Mix 210
7 Customer Value–Driven Marketing Strategy: Creating Value for Target Customers 210
8 Products, Services, and Brands: Building Customer Value 242
9 Developing New Products and Managing the Product Life Cycle 278
10 Pricing: Understanding and Capturing Customer Value 306
11 Pricing Strategies: Additional Considerations 330
12 Marketing Channels: Delivering Customer Value 356
13 Retailing and Wholesaling 390
14 Engaging Consumers and Communicating Customer Value: Integrated Marketing
Communication Strategy 422
15 Advertising and Public Relations 450
16 Personal Selling and Sales Promotion 478
17 Direct, Online, Social Media, and Mobile Marketing 510
Part 4 Extending Marketing 540
18 Creating Competitive Advantage 540
19 The Global Marketplace 566
20 Sustainable Marketing: Social Responsibility and Ethics 596
Appendix 1 Marketing Plan 627
Appendix 2 Marketing by the Numbers 637
Appendix 3 Careers in Marketing 655
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