Marketing Management: A relationship approach, 4th Edition
- Length: 728 pages
- Edition: 4
- Language: English
- Publisher: Pearson
- Publication Date: 2019-01-23
- ISBN-10: 1292291443
- ISBN-13: 9781292291444
- Sales Rank: #8787990 (See Top 100 Books)
This book takes the unique and innovative approach of linking relationship marketing to the traditional market planning models that are used by most marketers today. As globalisation progresses, the need for creating and maintaining off-line and on-line relationships with the company’s customers, suppliers, stakeholders and personnel has become increasingly vital in today’s business environment.
Now in its fourth edition, this best-selling text bridges the gap between relationship marketing and traditional marketing, integrating this approach with the process of developing effective marketing plans by the use of the newest technology. Drawing on a varied and extensive range of international examples, Hollensen demonstrates how companies such as Electrolux, Tinder (Match.com), DJI Technology, Huawei and Spotify make use of relationship marketing theory in order to gain competitive advantage.
Marketing Management: A Relationship Approach is invaluable reading for undergraduates studying marketing management in their final year or at postgraduate level and for practitioners and those studying for professional qualifications in marketing management.
Front Cover Brief Contents Contents Guided tour Preface Digital resources Chapter 1: Introduction 1.1: Introduction 1.2: The marketing management process Marketing strategy Marketing plan Strengths of the hierarchical approach to marketing planning Weaknesses of the hierarchical approach to marketing planning 1.3: The traditional (transactional) marketing (TM ) concept versus the relationship marketing (RM ) concept The traditional (transactional) marketing concept The relationship marketing (RM) concept Importance of customer retention: a case study of how to bridge the gap between TM and RM 1.4: Balancing the transactional and relationship concepts throughout the book 1.5: How the RM concept influences the traditional marketing concept Product Price Distribution Communication (promotion) 1.6: Different organisational forms of RM 1.7: Summary Case study 1.1: Hunter Boot Ltd: the iconic British brand is moving into exclusive fashion Part I: Assessing the competitiveness of the firm (internal) Part I: Video case study: BYD electrical cars: the Chinese electric car manufacturer is considering sales worldwide Introdution to Part I Chapter 2: Identification of the firm’s core competences 2.1: Introduction From capability to advantage 2.2: Roots of competitive advantage 2.3: The resource-based view (RBV) Resources Competence Exhibit 2.1: Honda’s competences in small engines 2.4: Market orientation view (MOV) compared to the resource -based view Exploitation versus exploration 2.5: The value chain-based view (VBV) The value chain Exhibit 2.2: Nike’s value chain Customer value proposition (CVP) Exhibit 2.3: The value chain of Acme Axles, Inc. 2.6: Value shop and the ‘service value chain’ Combining the ‘product value chain’ and the ‘service value chain’ 2.7: Internationalising the value chain International configuration and coordination of activities 2.8: The virtual value chain Online customer value proposition (OCVP) 2.9: Experiential marketing Augmented reality (AR) 2.10: Artificial intelligence (AI) and its influence on marketing Exhibit 2.4: IKEA’s use of AR 2.11: Summary Exhibit 2.5: Harley-Davidson’s use of AI in New York Case study 2.1: Electrolux Chapter 3: Development of the firm’s competitive advantage 3.1: Introduction 3.2: General sources of competitive advantage Economies of scale (efficiencies of global scale and volume) Economies of scope (transfer of resources, experience, ideas and successful concepts across products and markets) Time-based competition (TBC) 3.3: Introduction of a holistic model of competitiveness: from macro to micro level Individual competitiveness and time-based competition 3.4: Analysis of national competitiveness (Porter’s diamond) Factor conditions Demand conditions Related and supporting industries Firm strategy, structure and rivalry Government Chance The ‘double diamond’ and ‘multiple diamond’ framework 3.5: Competition analysis in an industry Market competitors Suppliers Buyers Substitutes New entrants Strategic groups The collaborative ‘five sources’ model 3.6: Value chain analysis The competitive triangle Competitive benchmarking 3.7: Blue ocean strategy and value innovation Value innovation 3.8: The sharing economy Exhibit 3.1: Value innovation at hotel chain Formule 1 3.9: Summary Analysis of national/regional competitiveness Competition analysis Value chain analysis Case study 3.1: Nintendo Switch: Is this the ‘Blue Ocean’ come-back Part II: Assessing the external marketing situation Part II: Video case study: Müller yogurts are penetrating the US market by the Muller Quaker Joint Venture and exit again two years later Introduction to Part II Chapter 4: Customer behaviour 4.1: Introduction Types of E-Commerce 4.2: Consumer B2C decision making Determinants of consumer involvement The consumer buying process 4.3: Influences on consumers’ decision making Needs Perception Memory Attitudes Socio-demographic variables Family life cycle (FLC) Social networks Exhibit 4.1: Example of loyalty: store loyalty versus brand loyalty 4.4: Organisational B2B decision making Identifying buyers in organisational markets Buying situations 4.5: Influences on the buying process Environmental forces Organisational forces Group forces Individual forces 4.6: Customer-perceived value and customer satisfaction Measuring customer satisfaction/customer value Customer satisfaction, loyalty and bonding Increasing customer skills through investments in customers 4.7: Customisation – tailoring the offer to the individual customer The challenges of customisation 4.8: 3-D Printing – a possible new industrial revolution in customisation 4.9: Gamification and its use for marketers Exhibit 4.2: Coca Cola Israel increases its sales of their mini bottle through a ‘Mini Me ’3-D Print campaign 4.10: Summary Exhibit 4.3: Niantic brings ‘Pokémon Go’ games to McDonald’s and Starbucks Case study 4.1: Spotify: The online music-streaming company is growing fast but is suffering financial imbalance Chapter 5: Competitor analysis and intelligence 5.1: Introduction 5.2: Who are our competitors? 5.3: How are the competitors interacting? 5.4: How do we learn about our competitors? Proactive or reactive CI Formal or informal CI Exhibit 5.1: McDonald’s and Burger King in an asymmetric interaction Why the internet is a good source of CI Types of CI available 5.5: What are the strengths and weaknesses of our competitors? 5.6: Market commonality and resource commonality 5.7: What are the objectives and strategies of our competitors? Assessing competitors’ current strategies The four Ps 5.8: What are the response patterns of our competitors? Exhibit 5.2: Role play in CI as a predictor of competitive behaviour 5.9: Six steps to competitor analysis 1: Identifying your company’s competitors 2: Identifying the information required and the information sources of competitor intelligence 3: Analysing strengths and weaknesses of competitors with respect to the market requirements 4: Assessing the company’s competitive position vis-à-vis key competitors 5: Investigating the goals and long-term strategies of competitors 6: Selecting the company strategies to compete against the competitor, locally and globally, taking into account possible competitor reactions 5.10: How can we set up an organisation for competitor analysis and CI? Exhibit 5.3: Counterintelligence done by Johnson Controls against Honeywell Expanded human resources/single responsibility 5.11: Summary Case study 5.1: Cereal Partners Worldwide (CPW): The no. 2 world player is challenging the no. 1 – Kellogg Chapter 6: Analysing relationships in the value chain 6.1: Introduction 6.2: The value net Exhibit 6.1: Value chain of Braun (Oral-B) electric toothbrush 6.3: Relationships with customers Exhibit 6.2: Value net of Braun (Oral-B) electric toothbrush Developing buyer–seller relationships – the marriage metaphor Buyer–seller relationships in a cross-cultural perspective Distance reduction in international strategic alliances The nature of the customer and the behaviour spectrum Implications for relationship marketing strategies Behavioural conditions in buyer–seller relationships Exhibit 6.3: Speedo’s relations with its retailers Relationships in B2B markets versus B2C markets One-to-one marketing relationships Bonding in buyer–seller relationships 6.4: Relationships with suppliers Reverse marketing 6.5: Relationships with complementors/partners Y coalitions Exhibit 6.4: Irn-Bru’s distributor alliance (Y coalition) with Pepsi Bottling Group (PBG in Russia X coalitions Co-branding Ingredient branding 6.6: Relationships with competitors Exhibit 6.5: Value net – cooperation/coopetition between competitors within each airline alliance. The three alliances are competing against each other 6.7: Internal marketing (IM ) relationships 6.8: Summary Case study 6.1: ARM : challenging Intel in the world market of computer chips Part III: Developing marketing strategies Part III: Video case study: Nivea: Segmentation of the sun-care market Introduction to Part III Chapter 7: SWOT analysis, strategic marketing planning and portfolio analysis 7.1: Introduction 7.2: Corporate mission 7.3: Swot analysis Conditions for an effective and productive SWOT analysis SWOT-driven strategic marketing planning 7.4: Corporate objectives 7.5: Corporate growth strategy Market penetration Market development Geographic expansion Product development Diversification 7.6: SBU marketing strategy/portfolio analysis Product life cycle (PLC) 7.7: Introduction to portfolio models 7.8: The Boston Consulting Group’s growth–share matrix – the BCG model Market growth rate Relative market shares Strategy implications of BCG The relationship between the BCG model and the concept of PLC The advantages of the BCG model The disadvantages of the BCG model 7.9: General electric market attractiveness –business position matrix (ge matrix) Compiling the GE matrix Advantages and disadvantages of the GE matrix 7.10: International portfolio analysis 7.11: Portfolio analysis of supplier relationships Why are there so many advocates of the relationship focus in marketing? Strategic implications of the supplier’s portfolio 7.12: Summary Case study 7.1: William Demant hearing aids Chapter 8: Segmentation, targeting, positioning and competitive strategies 8.1: Introduction Pitfalls with segmentation Factors favouring market segmentation Factors discouraging market segmentation Requirements for effective market segmentation Two common segmenting methods Identifying segmentation variables 8.2: Segmentation in the B2C market Exhibit 8.1: Segmentation in the pet food market The sociodemographic variables Behaviouristic variables Psychographic variables Benefits-sought variables Multidimensional segmentation 8.3: Segmentation in the B2B market Exhibit 8.2: Segmentation in work (‘salty snacks in the workplace’) Bonoma and Shapiro’s (1983) macro-/micro-segmentation process A relationship approach to B2B segmentation 8.4: Target marketing Undifferentiated (mass) marketing Differentiated marketing Concentrated (niche) marketing 8.5: Positioning Exhibit 8.3: Björn Borg’s brand positioning and business modelling in the international apparel market 8.6: Generic competitive strategies Cost leadership Differentiation Differentiation focus Cost focus 8.7: Offensive and defensive competitive strategies Exhibit 8.4: Good-enough markets in China – the case of Duracell batteries Offensive strategies Defensive strategies 8.8: Summary Case study 8.1: LEGO Friends: One of the world’s largest toy manufacturer moves into the girls’ domain Chapter 9: CSR strategy and the sustainable global value chain 9.1: Introduction Definition of CSR 9.2: Different levels of ethical behaviour 9.3: Social marketing as part of CSR 9.4: Cause-related marketing 9.5: Identification of stakeholders in CSR Exhibit 9.1: Examples of cause-related marketing campaigns 9.6: Drivers of CSR Long-term benefit drivers of CSR 9.7: The sustainable global value chain (SGV C) 9.8: CSR and international competitiveness CSR benefits CSR costs 9.9 The Triple Bottom Line (TBL) 9.10: Poverty (BOP market) as a ‘market’ opportunity The poor as consumers The poor as marketers of products and services Exhibit 9.:2: Grameen Danone Foods opens plant in Bangladesh 9.11: The ‘green’ market as a business opportunity Enviropreneur marketing Global warming (climate change) Exhibit 9.3: Unilever’s introduction of ‘Comfort One Rinse’ saves water Segmenting the ‘green’ consumer market 9.12: Summary Case study 9.1: YouthAIDS: social marketing in a private, non-profit organisation Part IV: Developing marketing programmes Part IV: Video case study: Tequila Avión: A premium tequila is introduced Introduction to part IV The extended marketing mix Participants Process Physical evidence Chapter 10: Establishing, developing and managing buyer–seller relationships 10.1: Introduction 10.2: Building buyer–seller relationships in B2B markets 10.3: Relationship quality 10.4: Building buyer–seller relationships in B2C markets Exhibit 10.1: Husqvarna’s consumer wheel Exhibit 10.2: Employee commitment drives value at Southwest Airlines 10.5: Managing loyalty Steps in a loyalty-based relationship strategy Exhibit 10.3: Developing service loyalty at Volkswagen 10.6: The crm path to long-term customer loyalty and advocacy Stage 1: Customer acquisition (the courtship) Stage 2: Customer retention (the relationship) Stage 3: Strategic customer care (the marriage) Stage 4: Customer advocacy (the marriage) 10.7: Key account management (kam) Implementation of KAM Customer-complaint management in KAM The dyadic development of KAM KAM effectiveness and performance 10.8: Summary Case study 10.1: Dassault Falcon: the private business jet, Falcon, is navigating in the global corporate business sector Chapter 11: Product and service decisions 11.1: Introduction What is a product? Importance of service 11.2: The components of the product offer 11.3: Service strategies Characteristics of services The Service-Dominant logic (S-D logic) Global marketing of services Categories of service Determining the service quality gap Exhibit 11.1: Hilti is selling the ‘use’ – not the product After-sales services (AS) Full-service contracts e-Services Service in the business-to-business market 11.4: New product development (NPD ) The multiple-convergent process model Product platform/modularity in NPD 11.5: The product life cycle Limitations of the product life cycle Technological life cycle Crowdsourcing Exhibit 11.2: Threadless T-shirt crowdsourcing business 11.6: New products for the international market Developing new products/cutting the time-to-market Degrees of product newness 11.7: Product cannibalisation Conditions for successful cannibalisation 11.8: Product positioning 11.9: Branding Branding decisions Exhibit 11.3: Roundup – a global brand for multiple markets Exhibit 11.4: Kellogg is under pressure to produce Aldi’s own-label goods 11.10: Brand equity Definitions of ‘brand equity’ 11.11: Implications of the internet for product decisions Customisation and closer relationships Dynamic customisation of product and services 11.12: Global mobile app marketing 11.13: Internet of Things (IoT) and its use for marketers Exhibit 11.5: Google’s use of IoT in form of the smart thermostat, Nest What opportunities does IoT provide for future marketers? The marketer’s use of IoT 11.14: ‘Long tail’ strategies 11.15: Summary Case study 11.1: Tinder – the famous dating app brand is facing increasing competition from e.g. Badoo Chapter 12: Pricing decisions 12.1: Introduction 12.2: Pricing from an economist’s perspective Competitor price response Exhibit 12.1: Johnnie Walker whisky faced positive price elasticity in Japan 12.3: Pricing from an acc ountant’s perspective Break-even market share 12.4: A pricing framework Firm-level factors Product factors Environmental factors Market factors 12.5: Market value-based pricing versus cost-based pricing Value-based pricing Value pricing based on ‘total cost of ownership’ 12.6: Pricing services versus physical products 12.7: Pricing new products Skimming vs penetration pricing Exhibit 12.2: Value-based pricing in Bossard – the ‘15/85 rule’ Market pricing 12.8: Price changes 12.9: Experience curve pricing 12.10: Product line pricing Freemium 12.11: Price bundling 12.12: Dynamic pricing for different segments Geographic segments Usage segments Time segments (off-peak pricing) Demographic segments 12.13: Subscription-based pricing Subscription pricing strategies Exhibit 12.3: Dollar Shave Club 12.14: Relationship pricing Establishing global pricing contracts (GPCs) 12.15: Pricing on the internet 12.16: Communicating prices to the target markets 12.17: Summary Case study 12.1: Harley-Davidson: How should the pricing strategy be affected by the new EU tariffs in 2018? Chapter 13: Distribution decisions 13.1: Introduction 13.2: The basic functions of channel participants 13.3: Distributor portfolio analysis 13.4: Developing and managing relationships between manufacturer and distributor 13.5: External and internal determinants of channel decisions Customer characteristics Nature of the product Nature of demand/location Competition Legal regulations/local business practices 13.6: The structure of the channel Market coverage Channel length Control/cost Degree of integration 13.7: From single-channel to omnichannel strategy 13.8: Managing and controlling distribution channels Screening and selecting intermediaries Contracting (distributor agreements) Motivating Controlling Termination 13.9: Implications of the internet for distribution decisions 13.10: Blockchain technology and its influence on marketing and SCM The marketer’s use of the blockchain The use of blockchain technology in SCM provides trust 13.11: Online retail sales Exhibit 13.1: Maersk’s use of blockchains in their shipping 13.12: Smart phone marketing Benefits of m-marketing Location based app services 13.13: Channel power in international retailing Exhibit 13.2: The ‘Banana Split’ model 13.14: Mystery shopping in retailing 13.15: Summary Case study 13.1: Bosch Indego: how to build B2B and B2C relationships in a new global product market – robotic lawnmowers Chapter 14: Communication decisions 14.1: Introduction 14.2: The communication process Opinion leadership Buyer initiative in the communication process Key attributes of effective communication Other factors affecting communication Push versus pull strategies Mass customisation, one-to-one marketing and the push-pull strategy 14.3: Communication tools Advertising Public relations Exhibit 14.1: LEGO Ninjago’s 360-degree marketing communication Exhibit 14.2: Ambush marketing strategy – Dutch brewery vs Anheuser Busch’s Budweiser during the FIFA World Cup 2010 Sales promotion Direct marketing 14.4: Personal selling The steps in personal selling Assessing salesforce effectiveness 14.5: Trade fairs and exhibitions 14.6: Social media marketing Web 2.0 Social media From ‘Bowling’ to ‘Pinball’ The 6C model of social media marketing 14.7: Categorisation of social media The four Social Media categories 14.8: The social media funnel 14.9: Development of the social media marketing plan Step 1: Conduct a social media audit (where are we today?) Step 2: Create social media marketing objectives Step 3: Choose the most relevant social media platforms to work with Step 4: Get social media inspiration from industry leaders, competitors and key opinion leader in the online community Step 5: Create a content and time plan for the company’s social media efforts Step 6: Test, evaluate and adjust your social media marketing plan 14.10: Developing a viral marketing campaign 14.11: Summary Exhibit 14.3: Fox Business (Trish Regan) is selling a political statement Case study 14.1: Orabrush Inc.: how a ‘pull’ B2C YouTube marketing strategy helped consumers to focus on the ‘bad breath’ problem Part V: Organising, implementing and controlling the marketing effort Part V: Video case study: Pret A Manger: How to control the expansion of an international restaurant chain Introduction to part V Chapter 15: Organising and implementing the marketing plan 15.1: Introduction 15.2: Marketing audit 15.3: Building the marketing plan Title page Table of contents Executive summary Introduction Situational analysis Marketing objectives and goals Marketing strategies and programmes Budgets Implementation and control Conclusion 15.4: Organising the marketing resources Organisational structure Vertical or horizontal organisation? Centralised or decentralised organisation? Bureaucratic or adaptive organisation? Organisational forms Transition from a product-focused to a customer-focused structure Organisational culture 15.5: Implementation of the marketing plan Issues in marketing implementation Planning and implementation are interdependent processes 15.6: The role of internal marketing The internal marketing approach The internal marketing process Implementing an internal marketing approach Exhibit 15.1: Merger of Mars’ European food, pet care and confectionery divisions 15.7: Summary Case study 15.1: DJI Technology Co. Ltd. Chapter 16: Budgeting and controlling 16.1: Introduction 16.2: Budgeting Profitability analysis Customer-mix budgets 16.3: Social media metrics Non-financial social metrics Other ‘operational’ non-financial social metrics Financial social metrics Other ‘operational’ financial social metrics 16.4: Customer profitability and customer lifetime value Realising the full profit potential of a customer relationship Customer retention Increasing CLTV Acquisition costs 16.5: Controlling the marketing programme Exhibit 16.1: Simulation of firm X’s customer value (cumulative sales for firm X over periods 1 to 10) with different retention rates Design of a control system Feedforward control Key areas for control in marketing Overall economic value with successful implementation of CRM 16.6: Summary Case study 16.1: Huawei smartphones: expanding into the international markets for smartphones Appendix: Market research and decision support system A.1: Introduction A.2: Data warehousing A.3: Data mining A.4: The customer information file A.5: Linking market research to the decision-making process A.6: Secondary research Advantages of secondary research Disadvantages of secondary research Internal data sources External data sources Secondary data used for estimation of foreign market potential A7: Primary research Qualitative and quantitative research Triangulation: mixing qualitative and quantitative research methods Research design Problems with using primary research A.8: Online (internet) primary research methods Advantages of online surveys Disadvantages of online surveys Online quantitative market research (email and Web-based surveys) Online qualitative market research A.9: Other types of market research Ad-hoc research Continuous research (longitudinal designs) Sales forecasting Scenario planning A.10: Setting up a marketing information system (MIS) A.11: Marketing research based on Web 2.0 A.12: Summary Glossary Index Back Cover
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