Skip to ContentGo to accessibility pageKeyboard shortcuts menu
OpenStax Logo
Principles of Marketing

References

Principles of MarketingReferences
Table of contents
  1. Preface
  2. Setting the Stage
    1. 1 Unit Introduction
    2. 1 Marketing and Customer Value
      1. In the Spotlight
      2. 1.1 Marketing and the Marketing Process
      3. 1.2 The Marketing Mix and the 4Ps of Marketing
      4. 1.3 Factors Comprising and Affecting the Marketing Environment
      5. 1.4 Evolution of the Marketing Concept
      6. 1.5 Determining Consumer Needs and Wants
      7. 1.6 Customer Relationship Management (CRM)
      8. 1.7 Ethical Marketing
      9. Chapter Summary
      10. Key Terms
      11. Applied Marketing Knowledge: Discussion Questions
      12. Critical Thinking Exercises
      13. Building Your Personal Brand
      14. What Do Marketers Do?
      15. Marketing Plan Exercise
      16. Closing Company Case
      17. References
    3. 2 Strategic Planning in Marketing
      1. In the Spotlight
      2. 2.1 Developing a Strategic Plan
      3. 2.2 The Role of Marketing in the Strategic Planning Process
      4. 2.3 Purpose and Structure of the Marketing Plan
      5. 2.4 Marketing Plan Progress Using Metrics
      6. 2.5 Ethical Issues in Developing a Marketing Strategy
      7. Chapter Summary
      8. Key Terms
      9. Applied Marketing Knowledge: Discussion Questions
      10. Critical Thinking Exercises
      11. Building Your Personal Brand
      12. What Do Marketers Do?
      13. Marketing Plan Exercise
      14. Closing Company Case
      15. References
  3. Understanding the Marketplace
    1. 2 Unit Introduction
    2. 3 Consumer Markets and Purchasing Behavior
      1. In the Spotlight
      2. 3.1 Understanding Consumer Markets and Buying Behavior
      3. 3.2 Factors That Influence Consumer Buying Behavior
      4. 3.3 The Consumer Purchasing Decision Process
      5. 3.4 Ethical Issues in Consumer Buying Behavior
      6. Chapter Summary
      7. Key Terms
      8. Applied Marketing Knowledge: Discussion Questions
      9. Critical Thinking Exercises
      10. Building Your Personal Brand
      11. What Do Marketers Do?
      12. Closing Company Case
      13. References
    3. 4 Business Markets and Purchasing Behavior
      1. In the Spotlight
      2. 4.1 The Business-to-Business (B2B) Market
      3. 4.2 Buyers and Buying Situations in a B2B Market
      4. 4.3 Major Influences on B2B Buyer Behavior
      5. 4.4 Stages in the B2B Buying Process
      6. 4.5 Ethical Issues in B2B Marketing
      7. Chapter Summary
      8. Key Terms
      9. Applied Marketing Knowledge: Discussion Questions
      10. Critical Thinking Exercises
      11. Building Your Personal Brand
      12. What Do Marketers Do?
      13. Closing Company Case
      14. References
    4. 5 Market Segmentation, Targeting, and Positioning
      1. In the Spotlight
      2. 5.1 Market Segmentation and Consumer Markets
      3. 5.2 Segmentation of B2B Markets
      4. 5.3 Segmentation of International Markets
      5. 5.4 Essential Factors in Effective Market Segmentation
      6. 5.5 Selecting Target Markets
      7. 5.6 Product Positioning
      8. 5.7 Ethical Concerns and Target Marketing
      9. Chapter Summary
      10. Key Terms
      11. Applied Marketing Knowledge: Discussion Questions
      12. Critical Thinking Exercises
      13. Building Your Personal Brand
      14. What Do Marketers Do?
      15. Marketing Plan Exercise
      16. Closing Company Case
      17. References
    5. 6 Marketing Research and Market Intelligence
      1. In the Spotlight
      2. 6.1 Marketing Research and Big Data
      3. 6.2 Sources of Marketing Information
      4. 6.3 Steps in a Successful Marketing Research Plan
      5. 6.4 Ethical Issues in Marketing Research
      6. Chapter Summary
      7. Key Terms
      8. Applied Marketing Knowledge: Discussion Questions
      9. Critical Thinking Exercises
      10. Building Your Personal Brand
      11. What Do Marketers Do?
      12. Marketing Plan Exercise
      13. Closing Company Case
      14. References
    6. 7 Marketing in a Global Environment
      1. In the Spotlight
      2. 7.1 The Global Market and Advantages of International Trade
      3. 7.2 Assessment of Global Markets for Opportunities
      4. 7.3 Entering the Global Arena
      5. 7.4 Marketing in a Global Environment
      6. 7.5 Ethical Issues in the Global Marketplace
      7. Chapter Summary
      8. Key Terms
      9. Applied Marketing Knowledge: Discussion Questions
      10. Critical Thinking Exercises
      11. Building Your Personal Brand
      12. What Do Marketers Do?
      13. Closing Company Case
      14. References
    7. 8 Marketing in a Diverse Marketplace
      1. In the Spotlight
      2. 8.1 Strategic Marketing: Standardization versus Adaptation
      3. 8.2 Diversity and Inclusion Marketing
      4. 8.3 Multicultural Marketing
      5. 8.4 Marketing to Hispanic, Black, and Asian Consumers
      6. 8.5 Marketing to Sociodemographic Groups
      7. 8.6 Ethical Issues in Diversity Marketing
      8. Chapter Summary
      9. Key Terms
      10. Applied Marketing Knowledge: Discussion Questions
      11. Critical Thinking Exercises
      12. Building Your Personal Brand
      13. What Do Marketers Do?
      14. Closing Company Case
      15. References
  4. Product, Promotion, Price, and Place
    1. 3 Unit Introduction
    2. 9 Products: Consumer Offerings
      1. In the Spotlight
      2. 9.1 Products, Services, and Experiences
      3. 9.2 Product Items, Product Lines, and Product Mixes
      4. 9.3 The Product Life Cycle
      5. 9.4 Marketing Strategies at Each Stage of the Product Life Cycle
      6. 9.5 Branding and Brand Development
      7. 9.6 Forms of Brand Development, Brand Loyalty, and Brand Metrics
      8. 9.7 Creating Value through Packaging and Labeling
      9. 9.8 Environmental Concerns Regarding Packaging
      10. 9.9 Ethical Issues in Packaging
      11. Chapter Summary
      12. Key Terms
      13. Applied Marketing Knowledge: Discussion Questions
      14. Critical Thinking Exercises
      15. Building Your Personal Brand
      16. What Do Marketers Do?
      17. Marketing Plan Exercise
      18. Closing Company Case
      19. References
    3. 10 Maintaining a Competitive Edge with New Offerings
      1. In the Spotlight
      2. 10.1 New Products from a Customer’s Perspective
      3. 10.2 Stages of the New Product Development Process
      4. 10.3 The Use of Metrics in Evaluating New Products
      5. 10.4 Factors Contributing to the Success or Failure of New Products
      6. 10.5 Stages in the Consumer Adoption Process for New Products
      7. 10.6 Ethical Considerations in New Product Development
      8. Chapter Summary
      9. Key Terms
      10. Applied Marketing Knowledge: Discussion Questions
      11. Critical Thinking Exercises
      12. Building Your Personal Brand
      13. What Do Marketers Do?
      14. Closing Company Case
      15. References
    4. 11 Services: The Intangible Product
      1. In the Spotlight
      2. 11.1 Classification of Services
      3. 11.2 The Service-Profit Chain Model and the Service Marketing Triangle
      4. 11.3 The Gap Model of Service Quality
      5. 11.4 Ethical Considerations in Providing Services
      6. Chapter Summary
      7. Key Terms
      8. Applied Marketing Knowledge: Discussion Questions
      9. Critical Thinking Exercises
      10. Building Your Personal Brand
      11. What Do Marketers Do?
      12. Closing Company Case
      13. References
    5. 12 Pricing Products and Services
      1. In the Spotlight
      2. 12.1 Pricing and Its Role in the Marketing Mix
      3. 12.2 The Five Critical Cs of Pricing
      4. 12.3 The Five-Step Procedure for Establishing Pricing Policy
      5. 12.4 Pricing Strategies for New Products
      6. 12.5 Pricing Strategies and Tactics for Existing Products
      7. 12.6 Ethical Considerations in Pricing
      8. Chapter Summary
      9. Key Terms
      10. Applied Marketing Knowledge: Discussion Questions
      11. Critical Thinking Exercises
      12. Building Your Personal Brand
      13. What Do Marketers Do?
      14. Marketing Plan Exercise
      15. Closing Company Case
      16. References
    6. 13 Integrated Marketing Communications
      1. In the Spotlight
      2. 13.1 The Promotion Mix and Its Elements
      3. 13.2 The Communication Process
      4. 13.3 Integrated Marketing Communications
      5. 13.4 Steps in the IMC Planning Process
      6. 13.5 Ethical Issues in Marketing Communication
      7. Chapter Summary
      8. Key Terms
      9. Applied Marketing Knowledge: Discussion Questions
      10. Critical Thinking Exercises
      11. Building Your Personal Brand
      12. What Do Marketers Do?
      13. Marketing Plan Exercise
      14. Closing Company Case
      15. References
    7. 14 The Promotion Mix: Advertising and Public Relations
      1. In the Spotlight
      2. 14.1 Advertising in the Promotion Mix
      3. 14.2 Major Decisions in Developing an Advertising Plan
      4. 14.3 The Use of Metrics to Measure Advertising Campaign Effectiveness
      5. 14.4 Public Relations and Its Role in the Promotion Mix
      6. 14.5 The Advantages and Disadvantages of Public Relations
      7. 14.6 Ethical Concerns in Advertising and Public Relations
      8. Chapter Summary
      9. Key Terms
      10. Applied Marketing Knowledge: Discussion Questions
      11. Critical Thinking Exercises
      12. Building Your Personal Brand
      13. What Do Marketers Do?
      14. Closing Company Case
      15. References
    8. 15 The Promotion Mix: Personal Selling and Sales Promotion
      1. In the Spotlight
      2. 15.1 Personal Selling and Its Role in the Promotion Mix
      3. 15.2 Classifications of Salespeople Involved in Personal Selling
      4. 15.3 Steps in the Personal Selling Process
      5. 15.4 Management of the Sales Force
      6. 15.5 Sales Promotion and Its Role in the Promotion Mix
      7. 15.6 Main Types of Sales Promotion
      8. 15.7 Ethical Issues in Personal Selling and Sales Promotion
      9. Chapter Summary
      10. Key Terms
      11. Applied Marketing Knowledge: Discussion Questions
      12. Critical Thinking Exercises
      13. Building Your Personal Brand
      14. What Do Marketers Do?
      15. Closing Company Case
      16. References
    9. 16 Direct, Online, Social Media, and Mobile Marketing
      1. In the Spotlight
      2. 16.1 Traditional Direct Marketing
      3. 16.2 Social Media and Mobile Marketing
      4. 16.3 Metrics Used to Evaluate the Success of Online Marketing
      5. 16.4 Ethical Issues in Digital Marketing and Social Media
      6. Chapter Summary
      7. Key Terms
      8. Applied Marketing Knowledge: Discussion Questions
      9. Critical Thinking Exercises
      10. Building Your Personal Brand
      11. What Do Marketers Do?
      12. Closing Company Case
      13. References
    10. 17 Distribution: Delivering Customer Value
      1. In the Spotlight
      2. 17.1 The Use and Value of Marketing Channels
      3. 17.2 Types of Marketing Channels
      4. 17.3 Factors Influencing Channel Choice
      5. 17.4 Managing the Distribution Channel
      6. 17.5 The Supply Chain and Its Functions
      7. 17.6 Logistics and Its Functions
      8. 17.7 Ethical Issues in Supply Chain Management
      9. Chapter Summary
      10. Key Terms
      11. Applied Marketing Knowledge: Discussion Questions
      12. Critical Thinking Exercises
      13. Building Your Personal Brand
      14. What Do Marketers Do?
      15. Marketing Plan Exercise
      16. Closing Company Case
      17. References
    11. 18 Retailing and Wholesaling
      1. In the Spotlight
      2. 18.1 Retailing and the Role of Retailers in the Distribution Channel
      3. 18.2 Major Types of Retailers
      4. 18.3 Retailing Strategy Decisions
      5. 18.4 Recent Trends in Retailing
      6. 18.5 Wholesaling
      7. 18.6 Recent Trends in Wholesaling
      8. 18.7 Ethical Issues in Retailing and Wholesaling
      9. Chapter Summary
      10. Key Terms
      11. Applied Marketing Knowledge: Discussion Questions
      12. Critical Thinking Exercises
      13. Building Your Personal Brand
      14. What Do Marketers Do?
      15. Marketing Plan Exercise
      16. Closing Company Case
      17. References
    12. 19 Sustainable Marketing: The New Paradigm
      1. In the Spotlight
      2. 19.1 Sustainable Marketing
      3. 19.2 Traditional Marketing versus Sustainable Marketing
      4. 19.3 The Benefits of Sustainable Marketing
      5. 19.4 Sustainable Marketing Principles
      6. 19.5 Purpose-Driven Marketing
      7. Chapter Summary
      8. Key Terms
      9. Applied Marketing Knowledge: Discussion Questions
      10. Critical Thinking Exercises
      11. Building Your Personal Brand
      12. References
  5. Answer Key
    1. Chapter 1
    2. Chapter 2
    3. Chapter 3
    4. Chapter 4
    5. Chapter 5
    6. Chapter 6
    7. Chapter 7
    8. Chapter 8
    9. Chapter 9
    10. Chapter 10
    11. Chapter 11
    12. Chapter 12
    13. Chapter 13
    14. Chapter 14
    15. Chapter 15
    16. Chapter 16
    17. Chapter 17
    18. Chapter 18
    19. Chapter 19
  6. Index
1. George Hatch, “What You Need to Know about Amazon Prime: 2005–Today,” Pattern Blog, Pattern, August 20, 2020, https://pattern.com/blog/amazon-prime-a-timeline-from-2005-to-2020/.
2. Parkev Tatevosian, “Amazon Reaches 200 Million Prime Members: Here’s Why That’s a Big Deal,” The Motley Fool, April 27, 2021, https://www.fool.com/investing/2021/04/27/amazon-reaches-200-million-prime-member-milestone/.
3. Hatch, “What You Need.”
4. Anisha Sekar and Tommy Tindall, “What Is Amazon Prime? The Benefits, the Cost and Whether It’s Worth It,” NerdWallet, June 28, 2022, https://www.nerdwallet.com/article/finance/amazon-prime-benefits-cost-worth.
5. Charles Fishman, “Which Price Is Right?,” Fast Company, February 28, 2003, https://www.fastcompany.com/46061/which-price-right.
6. Steve Jobs, “2010 Apple iPad Keynote,” Apple Soldier, January 28, 2010, YouTube video, 1:32:35, https://www.youtube.com/watch?v=lTNbKCAFHJo&t=4453s.
7. Keith S. Coulter, Pilsik Choi, and Kent B. Monroe, “Comma n’ Cents in Pricing: The Effects of Auditory Representation Encoding on Price Magnitude Perceptions,” Journal of Consumer Psychology 22, no. 3 (July 2012): 395–407, https://doi.org/10.1016/j.jcps.2011.11.005.
8. Eric Yu, “What Is Psychological Pricing? 4 Strategies, Examples, and Tactics,” Price Intelligently, ProfitWell, updated June 28, 2021, https://www.priceintelligently.com/blog/bid/181764/psychological-pricing-strategy-where-s-your-head-at.
9. Yu, “What Is Psychological Pricing?”
10. “Price Gouging Is Illegal,” NYC Department of Consumer and Worker Protection, City of New York, accessed May 31, 2022, https://www1.nyc.gov/site/dca/media/Face-Masks-in-Short-Supply-Due-to-COVID-19.page.
11. Christopher E. Ondeck et al., “State Price Gouging Laws and Price Controls: A Historical View on a Questionable Objective,” The National Law Review, September 18, 2020, https://www.natlawreview.com/article/state-price-gouging-laws-and-price-controls-historical-view-questionable-objective.
12. “Combating Price Gouging & Hoarding,” Coronavirus Response, United States Department of Justice, updated March 23, 2022, https://www.justice.gov/coronavirus/combatingpricegouginghoarding.
13. Mark Puleo, “The History of Price Gouging amid US Disasters and How Different States Fight against It,” AccuWeather, last modified July 1, 2019, https://www.accuweather.com/en/weather-news/the-history-of-price-gouging-amid-us-disasters-and-how-different-states-fight-against-it/344793.
14. Puleo, “History of Price Gouging.”
15. “This Is IKEA,” IKEA, accessed June 1, 2022, https://www.ikea.com/us/en/this-is-ikea/.
16. “eBikes,” Gazelle Bikes, Royal Dutch Gazelle, accessed June 11, 2022, https://www.gazellebikes.com/en-us/ebikes.
17. “Full Suspension Mountain Bikes,” Liv Cycling, accessed June 11, 2022, https://www.liv-cycling.com/us/bikes/mountain-bikes/full-suspension.
18. Panama City Beach Spring Break (website), CMG, accessed June 11, 2022, https://www.pcbeachspringbreak.com.
19. “The 5 Critical Cs of Pricing,” Scale Finance, accessed May 30, 2022, https://scalefinance.com/the-5-critical-cs-of-pricing/.
20. Jim Semick, “SaaS Pricing: How to Price Software Products,” Pragmatic Institute, May 20, 2015, https://www.pragmaticinstitute.com/resources/articles/product/how-to-price-saas-products/.
21. Hitesh Bhasin, “Cost-Based Pricing: Definition, Types, Examples, Advantages and Disadvantages,” Marketing91, August 30, 2021, https://www.marketing91.com/cost-based-pricing/.
22. Patrick Campbell, “What Is Market-Based Pricing: Advantages & Disadvantage (+Examples),” Recur, ProfitWell, February 19, 2020, https://www.profitwell.com/recur/all/market-based-pricing.
23. “Competitive Pricing: Definition, Advantages & Disadvantages,” Prisync Blog, Prisync, October 18, 2018, https://prisync.com/blog/competitive-pricing-advantages-vs-disadvantages/.
24. Jay Fuchs, “A Crash Course on Prestige Pricing (with Real-Life Examples),” The HubSpot Sales Blog, HubSpot, last modified October 15, 2021, https://blog.hubspot.com/sales/prestige-pricing.
25. Mary Hall, “Elasticity vs. Inelasticity of Demand: What’s the Difference?,” Investopedia, Dotdash Meredith, updated June 30, 2022, https://www.investopedia.com/ask/answers/012915/what-difference-between-inelasticity-and-elasticity-demand.asp.
26. Eliana Eitches and Vera Crain, “Using Gasoline Data to Explain Inelasticity,” Beyond the Numbers 5, no. 5 (March 2016), https://www.bls.gov/opub/btn/volume-5/using-gasoline-data-to-explain-inelasticity.htm.
27. Adam Hayes, “Cross Price Elasticity: Definition, Formula for Calculation, and Example,” Investopedia, Dotdash Meredith, updated July 31, 2022, https://www.investopedia.com/terms/c/cross-elasticity-demand.asp.
28. Francis Joseph Aguilar, Scanning the Business Environment (New York: Macmillan, 1967).
29. J. B. Maverick, “Which Economic Factors Most Affect the Demand for Consumer Goods?,” Investopedia, Dotdash Meredith, updated March 17, 2022, https://www.investopedia.com/ask/answers/042815/which-economic-factors-most-affect-demand-consumer-goods.asp.
30. “Historical Inflation Rates: 1914–2022,” US Inflation Calculator, CoinNews Media Group, last modified May 11, 2022, https://www.usinflationcalculator.com/inflation/historical-inflation-rates/.
31. Kimberly Amadeo, “How Inflation Impacts Your Life,” The Balance, Dotdash Meredith, updated December 31, 2021, https://www.thebalance.com/inflation-impact-on-economy-3306102.
32. “US Consumer Confidence,” The Conference Board, updated August 30, 2022, https://www.conference-board.org/data/consumerconfidence.cfm.
33. Bharath Sivakumar, “Price Skimming: Definition, Strategy, & Examples,” Feedough, July 17, 2021, https://www.feedough.com/price-skimming-definition-examples/.
34. “Auto Parts Price-Fixing 4th Round Class Action Settlement,” Top Class Actions, October 16, 2019, https://topclassactions.com/lawsuit-settlements/closed-settlements/926433-auto-parts-price-fixing-4th-round-class-action-settlement/.
35. Will Kenton, “Predatory Pricing,” Investopedia, Dotdash Meredith, updated January 30, 2022, https://www.investopedia.com/terms/p/predatory-pricing.asp.
36. Stacy Mitchell, “Wal-Mart Charged with Predatory Pricing,” Institute for Local Self-Reliance, November 1, 2000, https://ilsr.org/walmart-charged-predatory-pricing/.
37. Natalie B. Compton, “Texas Hotel Prices Skyrocketed after Power Outages. Here’s What to Know about Price Gouging,” Washington Post, February 17, 2021, https://www.washingtonpost.com/travel/tips/texas-hotel-storm-price-gouging/.
38. “History,” Warby Parker, accessed May 30, 2022, https://www.warbyparker.com/history.
39. Knowledge@Wharton, “The Consumer Psychology behind Warby Parker’s $95 Pricing for Eyeglasses,” Time, May 23, 2013, https://business.time.com/2013/05/23/the-consumer-psychology-behind-warby-parkers-95-pricing-for-eyeglasses/.
40. “10 Tips for Getting into the Wine Business,” Napa Valley Wine Academy, https://napavalleywineacademy.com/10-tips-for-getting-into-the-wine-business/
41. Kerana Todorov, “Farming for Labor Day: Winemakers Discuss the Challenging 2022 Harvest,” Wine Business, September 23, 2022, https://www.winebusiness.com/news/article/262997
42. https://us.nakedwines.com/content/about/about-us
PreviousNext
Order a print copy

As an Amazon Associate we earn from qualifying purchases.

Citation/Attribution

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Attribution information
  • If you are redistributing all or part of this book in a print format, then you must include on every physical page the following attribution:
    Access for free at https://openstax.org/books/principles-marketing/pages/1-unit-introduction
  • If you are redistributing all or part of this book in a digital format, then you must include on every digital page view the following attribution:
    Access for free at https://openstax.org/books/principles-marketing/pages/1-unit-introduction
Citation information

© Dec 20, 2022 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.