Project Management:

Project Management:

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About the Authors As a team, Gary Armstrong and Philip Kotler provide a blend of skills uniquely suited to writing an introductory marketing text. Professor Armstrong is an award-winning teacher of undergraduate business students. Professor Kotler is one of the world’s leading authorities on marketing. Together they make the complex world of marketing practical, approachable, and enjoyable.

GAry ArmstronG is Crist W. Blackwell Distinguished Professor Emeritus of Undergraduate Education in the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He holds undergraduate and master’s degrees in business from Wayne State University in Detroit, and he received his Ph.D. in marketing from North- western University. Dr. Armstrong has contributed numerous articles to leading business journals. As a consultant and researcher, he has worked with many companies on market- ing research, sales management, and marketing strategy.

But Professor Armstrong’s first love has always been teaching. His long-held Black- well Distinguished Professorship is the only permanent endowed professorship for distinguished undergraduate teaching at the University of North Carolina at Chapel Hill. He has been very active in the teaching and administration of Kenan-Flagler’s undergraduate program. His administrative posts have included Chair of Marketing, Associate Director of the Undergraduate Business Program, Director of the Business Honors Program, and many others. Through the years, he has worked closely with business student groups and has received several UNC campuswide and Business School teaching awards. He is the only repeat recipient of the school’s highly regarded Award for Excellence in Undergraduate Teaching, which he received three times. Most recently, Professor Armstrong received the UNC Board of Governors Award for Excellence in Teaching, the highest teaching honor bestowed by the 16-campus University of North Carolina system.

PhIlIP Kotler is S. C. Johnson & Son Distinguished Professor of International Mar- keting at the Kellogg School of Management, Northwestern University. He received his master’s degree at the University of Chicago and his Ph.D. at M.I.T., both in economics. Dr. Kotler is author of Marketing Management (Pearson), now in its 15th edition and the most widely used marketing textbook in graduate schools of business worldwide. He has authored dozens of other successful books and has written more than 50 books and 150 articles in leading journals. He is the only three-time winner of the coveted Alpha Kappa Psi award for the best annual article in the Journal of Marketing.

Professor Kotler was named the first recipient of four major awards: the Distinguished Marketing Educator of the Year Award and the William L. Wilkie “Marketing for a Bet- ter World” Award, both given by the American Marketing Association; the Philip Kotler Award for Excellence in Health Care Marketing presented by the Academy for Health Care Services Marketing; and the Sheth Foundation Medal for Exceptional Contribution to Mar- keting Scholarship and Practice. He is a charter member of the Marketing Hall of Fame, was voted the first Leader in Marketing Thought by the American Marketing Associa- tion, and was named the Founder of Modern Marketing Management in the Handbook of Management Thinking. His numerous other major honors include the Sales and Marketing Executives International Marketing Educator of the Year Award; the European Association of Marketing Consultants and Trainers Marketing Excellence Award; the Charles Coolidge Parlin Marketing Research Award; and the Paul D. Converse Award, given by the Ameri- can Marketing Association to honor “outstanding contributions to science in marketing.” A recent Forbes survey ranks Professor Kotler in the top 10 of the world’s most influential business thinkers. And in a recent Financial Times poll of 1,000 senior executives across

viii About the Authors

the world, Professor Kotler was ranked as the fourth “most influential business writer/ guru” of the twenty-first century.

Dr. Kotler has served as chairman of the College of Marketing of the Institute of Man- agement Sciences, a director of the American Marketing Association, and a trustee of the Marketing Science Institute. He has consulted with many major U.S. and international companies in the areas of marketing strategy and planning, marketing organization, and international marketing. He has traveled and lectured extensively throughout Europe, Asia, and South America, advising companies and governments about global marketing practices and opportunities.


Brief Contents PArt 1 DefInInG mArKetInG AnD the mArKetInG ProCess 2

1 Marketing: Creating Customer Value and Engagement 2 2 Company and Marketing Strategy: Partnering to Build Customer Engagement, Value,

and Relationships 38

PArt 2 UnDerstAnDInG the mArKetPlACe AnD CUstomer VAlUe 66

3 Analyzing the Marketing Environment 66 4 Managing Marketing Information to Gain Customer Insights 98 5 Understanding Consumer and Business Buyer Behavior 132

PArt 3 DesIGnInG A CUstomer VAlUe-DrIVen strAteGy AnD mIx 168

6 Customer Value-Driven Marketing Strategy: Creating Value for Target Customers 168 7 Products, Services, and Brands: Building Customer Value 200 8 Developing New Products and Managing the Product Life Cycle 236 9 Pricing: Understanding and Capturing Customer Value 262 10 Marketing Channels: Delivering Customer Value 298 11 Retailing and Wholesaling 332 12 Engaging Customers and Communicating Customer Value: Advertising and Public Relations 364 13 Personal Selling and Sales Promotion 398 14 Direct, Online, Social Media, and Mobile Marketing 428

PArt 4 extenDInG mArKetInG 458

15 The Global Marketplace 458 16 Sustainable Marketing: Social Responsibility and Ethics 488

APPenDIx 1 Company Cases 519 APPenDIx 2 Marketing Plan 551 APPenDIx 3 Marketing by the Numbers 561 APPenDIx 4 Careers in Marketing 579

Glossary 591 References 601 Index 623

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