The text presents the marketing mix in terms of four activities or components of marketing: creating, communicating, delivering, and exchanging value. Most students, business and non-business, do not see professional selling as their career aspiration either, if they have the choice. The text does a fairly good job of using conational business examples however, some of the images of people could be diversified. For example, in the very beginning, the author claimed " about 1950 to 1990, businesses operated in the marketing era" without providing supporting materials to bolster the claim. If you're believing this, you could not be more mistaken. For students who look for deeper understanding, this is not the right book for them as much discussion is on the shallow side. Accurate content with image sources and references. 2 - Strategic Planning Ch. A few applications might need to be updated to make the text more timely. I think the chapters on B2B behavior and Sales while good, may not be the most value-add for the students in class. Otherwise, most content areas are discussed rather thoroughly - even though, as the previous reviewer mentioned, the text is lacking in its application towards Principles of Marketing by Tanner & Raymond is a very comprehensive text, which addresses the full gamut of topics that an instructor might want to cover. This allows the text to be easily and readily divided into smaller reading sections, based on the desire of the instructor and/or reader. OpenStax Principles of Accounting Group Description Access, develop and share resources created by the OpenStax community that align with OpenStax Principles of Accounting Volume 1 and Volume 2. Speaking of the latter, there is no discussion of marketing experiences as offerings even though this approach is very common these days. Marketing Mix. Most important, the content is updated and relevant. On the other hand, the author had no issue in having a chapter in professional selling without clear justification for its inclusion. Browse our list of available subjects! 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. Utilizing marketing research to identify specific expectations and then crafting marketing strategy to meet or exceed those expectations is a major contributor to success for an organization. It would be probably more appropriate to place strategic planning close to the chapter on segmentation, targeting, and positioning. read more. Service-dominant logic This text seems to target the North American audience, and readers from elsewhere might not readily relate to the examples provided. The discussion also skipped a commonly known period when emphasis on selling was prevalent, skipping from product concept to marketing concepts, while ignoring the discussion on social responsibility in the 80s. I would add three additional chapters on international marketing, market expansion strategies and ethics and social responsibility. The main topics include the definition of marketing, strategic planning, consumer behavior, the 4 Ps, offerings, marketing channels, selling, and overview of a marketing plan. The textbook presents business principles and emerging trends in fields including management, leadership, production, marketing, and finance. Although there are a few more recent links most of the links are from before 2010. then you must include on every physical page the following attribution: If you are redistributing all or part of this book in a digital format, Not nearly sufficient in today's social media driven environment. I like the use of the alternative to the 4Ps. Organized into 16 chapters, it takes a traditional strategic planning, consumer and buyer behavior, research and 4Ps approach that addresses all major areas and ideas in a core marketing class. Communicating the Value Proposition. Rather than plan its products to meet this new preference, the company stayed with what had worked in the past and lost a ton of money. Yes, planning is important. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . Some of the longer sections could benefit from headings and subheadings. Also, it is important to include examples that are more current to provide better student discussions of this important marketing topic. This is a great place to start as many students I could not get any of the videos to open. Match. And finally, "what is this customer or set of customers worth to us over their lifetime?". For example, the topic of subliminal messaging is given a few sentences. citation tool such as, Authors: David S. Bright, Anastasia H. Cortes. read more. The Production Process: How Do We Make It? Pricing 2. The text would greatly benefit from a table of contents, glossary, and an index. This is an American text, so an instructor would need to provide his/her students with a variety of Canadian examples, as well as Canadian content related to environmental scanning and business practices. Seems like a great resource to use for students. The content is accurate and unbiased. read more. After all, planning time takes away from doing time. Managers often make such statements, possibly as a way of rationalizing their lack of a formal planning program. We can say that marketing is finding out the needs and wants of potential buyers (whether organizations or consumers) and then providing goods and services that meet or exceed the expectations of those buyers. An organization uses the marketing concept when it identifies the buyers needs and then produces the goods, services, or ideas that will satisfy them (using the right principle). There are formatting issues which have been mentioned earlier in this review, that would need to be addressed. This book uses the Reviewed by Kelly Atkins, Associate Professor, East Tennessee State University on 10/21/19, The text contains the expected chapter topics related to Principles of Marketing. 14 - Customer Satisfaction, Loyalty, and Empowerment Ch. A searchable pdf in the downloaded format makes it easy to find content. Products can be goods, services, or ideas. The books examples are all about 10 years old. The examples used in the text are up-to-date and relevant. ", The book is written well, free of grammatical errors. Nowadays, for inclusivity, the right pronoun to use would be "they. 4. The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo You may have had a summer or part-time job where you had a manager whom you had to report to. What are the characteristics that effective managers display? The layout is user-friendly and easy to read. I compared it to the McGraw Hill book that I have been using for the past 4 years and the topics (Chapters Topics and Sub-Topics) are pretty identical just in a slightly different order. read more. Principles of Marketing teaches the experience and process of actually doing marketing - not just the vocabulary. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. For marketing major students, I would expect students to learn more than what are presented in this book. That is because consumers don't sacrifice value when alternating between a product and a service. The layout of the text is very modular. Having said this, I believe that it would be relatively easy to make regular updates to the marketing communications chapters. All the examples are American, so not as relevant for Canadian students. And today's marketing professionals must understand the world in which they and their companies operate. These references will continue to grow stale. Perhaps ChezPastis.coms growing pains have something to do with their supply problems. Visuals serve to summarize concepts at-a-glance and help students to understand/recall a concept. The "review questions" are brief, yet add to what was discussed throughout the chapter. That information gathering can be costly, but it can also be very revealing. Customer satisfaction is the customers feeling that a product has met or exceeded expectations. The content is accurate and the textbook cites sources for most of the provided information. Think about the last exchange (purchase) you made: What if the price had been 30 percent higher? We recommend using a Based on my experience, most students like to see illustrations (visualize). The topics are presented and organized in an effective format. Any links I used worked. The book follows the usual formatting and organization of most of these textbooks. Overall, the discussion throughout the book tends to be less comprehensive. I have not seen any issues with the understandability of the text. In addition to the summaries at the end of each section within a chapter, include a final end of chapter summary. I was also looking to see slightly more insights on digital analytics in Chapter 10. This same pattern can be found in this text, with each chapter being split into sections for which particular assignments and experiential learning activities are designed. Organized into 16 chapters, it takes a traditional strategic planning, consumer and buyer behavior, research and 4Ps approach that addresses all major areas The discussion of the 4 Ps as creating, communicating, delivering and exchanging provides an interesting perspective. If there is any criticism it is that some topics are covered very sparsely. These are obviously the author's own selection bias and personal preferences, not necessarily what students ought to learn from the course. and you must attribute OpenStax. The concepts covered in Principles of Marketing - 2015 are appropriate for an introductory level course. The table of contents could be restructured to group chapters into subunits for greater student comprehension but it is a small detail. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . For marketing majors, I would add an appendix at the back of the book discussing the various career opportunities in marketing. read more. ", However, I see "he or she" is used. Lexus consistently wins awards for its outstanding customer satisfaction. The right principle tells us that marketers control many factors that determine marketing success. Its list price is lower from the use of the latest in printing technology. elasticity. There are a solid number of examples throughout the book. If this book had been available in 2009 as an open resource, I would have used it. The topics covered are appropriate and the scope meets the basic needs of a principles of marketing course. 1999-2022, Rice University. The book used "offerings" when referring to products and services consistently throughout the book. Marketing plan shows who the firm's customers will be and what type of competition it will face; outlines the marketing strategy and specifies the firm's competitive edge; and describes the strengths, weaknesses, opportunities, and threats of the business. In my opinion, Chapter 11 should include a This approach is inline with other Principals of Marketing textbooks. Using the Marketing Mix. Most successful organizations have adopted the marketing concept. I have been facilitating marketing, analytics, sales, and consumer behavior classes since 2009 and this textbook does a good job of covering all of the marketing mix. The way the pages are presented with extra lines on many pages, with figure titles on different pages than the actual figure, or with figure numbers on a different page than the figure itself. Products are not just created by production departments and then marketing departments are expected to identify ways to sell them based on the research. are licensed under a, Understanding Economic Systems and Business, Microeconomics: Zeroing in on Businesses and Consumers, Trends in the Business Environment and Competition, Preparing for Tomorrow's Workplace Skills, Making Ethical Decisions and Managing a Socially Responsible Business, How Organizations Influence Ethical Conduct, Trends in Ethics and Corporate Social Responsibility, Threats and Opportunities in the Global Marketplace, Specialized Forms of Business Organization, Entrepreneurship: Starting and Managing Your Own Business, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Management and Leadership in Today's Organizations, Using Teams to Enhance Motivation and Performance, AuthorityEstablishing Organizational Relationships, Managing Human Resources and Labor Relations, Achieving High Performance through Human Resources Management, Legal Environment of Human Resources and Labor Relations, Trends in Human Resource Management and Labor Relations, Achieving World-Class Operations Management, Production and Operations ManagementAn Overview. I saw nothing to indicate otherwise. A hyperlinked (clickable) table of contents makes it really easy to move between different chapters and their corresponding sub-segments. the percentage change in the quantity of savings divided by the percentage change in interest rates. The text is easy to read and provides a good balance of informal and professional language. When looking into how in-depth the book goes, it is not Principles begins with a question to spark curiosity for the novice student of marketing. read more. There are significant organization problems in Chapters 4,8 & 13. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. organized consistently and flow is as with other marketing texts. The textbook is easily divisible into smaller reading sections that can be assigned at different points within the course. I would add key terms at the end of each section because the terms and definitions seem to get lost within the chapters. Kinetic by OpenStax offers access to innovative study tools designed to help you maximize your learning potential. To properly perform segmentation and targeting, you must understand analytics / gathering information. Clear objectives are at the start of each section, key takeaways and review questions are at the end of each section. Most pieces and examples in the book have longevity. This text provides practical and real world examples that are interesting and relevant. Basic marketing concepts are covered with sufficient depth, but newer concepts are missing (like digital marketing). 3. There is certainly room for improvement from a formatting standpoint. The textbook's content is mostly accurate, error-free, and unbiased. The text covers most of the key areas of marketing such as consumer behavior, market segmentation and target marketing and the principals relating to product, pricing, placement and promotion. Yes, the text is internally consistent in terms of terminology and framework. The text is very general, but provides accurate descriptions and overviews of concepts and marketing theory. 2. Geicothe major auto insurer with the scaly mascotfamously boasts a 97 percent customer-satisfaction rating. the market in which households sell their labor as workers to business firms or other employers. Overall, the discussion throughout the book tends to be less comprehensive. Buoyed by this success, the company planned and manufactured a saltwater taffy Easter Bunny and produced the Santa at Christmas again. This creates a very consistent style that is easy to follow and should help with learning. As mentioned before, the hyperlinks make it very easy to navigate between different sections. Customers remain loyal to firms that provide them greater value and satisfaction than they expect from competing firms. My only complaint is because of some omitted or abbreviated topics, an instructor may have to supplement a bit more in order to ensure the curriculum is up to industry standards. the textbooks is very thorough in covering all the topis needed in a principles of marketing class. As of October 11, 2017, resources shared here pertain to OpenStax Princples of Macroeconomics 2e and not the original edition of OpenStax Princples of Macroeconomics. These activities, as Hannaway found in her study of managers at work, do not, in fact, describe what managers do.1 At best they seem to describe vague objectives that managers are continually trying to accomplish. then you must include on every digital page view the following attribution: Use the information below to generate a citation. I think the author missed the opportunity to bring marketing to a more global context. I think the book does a great job covering all the important topics as unbiased as possible. For example, there are only a few short paragraphs on Depending on the audience, more culturally diverse examples may be more suiting. I really like the key takeaways and review questions at the end of the sections instead of a summary at the end of the chapter. Each chapter has between 3-8 subsections that allows the material to be easily read by students. Otherwise, most content areas are discussed rather thoroughly - even though, as the previous reviewer mentioned, the text is lacking in its application towards There are no obvious concerns of being culturally insensitive or offensive. Access, develop and share resources created by the OpenStax community that align with OpenStax Principles of Finance. This is often referred to as the "triple bottom line" of financial, social, and environment performance. Members get birthday cards, and some even get profiled in the airlines in-flight magazine! Principles of Economics 2e covers the scope and sequence of most introductory economics courses. I believe its limitation is that it could go into more depth in many sections. Reviewed by Rosemary Prince, Teaching Faculty III, Florida State University on 12/6/18, The concepts covered in Principles of Marketing - 2015 are appropriate for an introductory level course. are not subject to the Creative Commons license and may not be reproduced without the prior and express written Creative Commons Attribution License The text is easy to read. However, my only criticism is that it does not touch on a huge Overall, I would recommend using this text for entry level marketing students. market. To encourage exchanges, marketers follow the right principle. The authors have effectively integrated up-to-date examples that students will find interesting as well as integrated media (e.g., audio clips) and real life profiles (profiling an analytics manager at BNSF) to produce an engaging text. It does not appear to be biased in any way. Metrics The content appears to be accurate. You may have the impression (not an accurate one) that management is basically just common sense and that you really dont need to take this course except that you must meet your degree requirement. I have not encountered any other issues. With so much content in marketing to cover, a standing-alone chapter on professional selling is uncalled for. A suggestion to make navigation through the print version easier would be to include a Table of Contents, Contents in Brief, and Index/Glossary at the end. The chapter on professional selling could be removed or covered within chapter one as a portion of the explanation on the aspects of marketing. All Introduction to Marketing texts offered by publishers provide extensive support materials for instructors and students. efficiency wage theory the theory that the productivity of workers, either individually or as a group, will increase if they are paid more frictional unemployment unemployment that occurs as workers move between jobs implicit contract an unwritten agreement in the labor market that the employer will try to keep wages from falling Having multiple formats, pdf, kindle, etc., available is a plus for this text. Describe) and Comprehension (i.e. The text seems to be internally consistent. The authors could consider moving all references to the end, as well as including a table of contents that the students could navigate (click on the headings), glossary, and an index. Overall there is a lot of content to choose from in this text that makes it easy to select what is needed. 66 members | 4 affiliated resources Join this group Group Resources Discussions Members Information Recent Activity All resources in OpenStax Principles of Accounting ChezPastis.com began with a bang, and before long Elisabeth and her partners were too busy to plan for the future and were just trying to survive. Overall, this textbook covers a majority of the marketing topics that should be covered in a Principles of Marketing class. PDF file, for viewing content offline and printing. 6 members | 1 affiliated resource. are licensed under a, Major Characteristics of the Manager's Job, How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems, Administrative and Bureaucratic Management, External and Internal Organizational Environments and Corporate Culture, The Internal Organization and External Environments, Organizing for Change in the 21st Century, Ethics, Corporate Responsibility, and Sustainability, Dimensions of Ethics: The Individual Level, Ethical Principles and Responsible Decision-Making, Leadership: Ethics at the Organizational Level, Ethics, Corporate Culture, and Compliance, Emerging Trends in Ethics, CSR, and Compliance, Cultural Stereotyping and Social Institutions, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Strategic Analysis: Understanding a Firms Competitive Environment, Gaining Advantages by Understanding the Competitive Environment, A Firm's External Macro Environment: PESTEL, A Firm's Micro Environment: Porter's Five Forces, Competition, Strategy, and Competitive Advantage, The Strategic Management Process: Achieving and Sustaining Competitive Advantage, The Role of Strategic Analysis in Formulating a Strategy, Strategic Objectives and Levels of Strategy, Planning Firm Actions to Implement Strategies, Measuring and Evaluating Strategic Performance, An Introduction to Human Resource Management, Influencing Employee Performance and Motivation, Talent Development and Succession Planning, Benefits and Challenges of Workplace Diversity, Situational (Contingency) Approaches to Leadership, Substitutes for and Neutralizers of Leadership, Transformational, Visionary, and Charismatic Leadership, Opportunities and Challenges to Team Building, Factors Affecting Communications and the Roles of Managers, Managerial Communication and Corporate Reputation, The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing, Formal Organizational Planning in Practice, Management by Objectives: A Planning and Control Technique, The Control- and Involvement-Oriented Approaches to Planning and Controlling, MTIIts Importance Now and In the Future, External Sources of Technology and Innovation, Internal Sources of Technology and Innovation, Management Entrepreneurship Skills for Technology and Innovation, Managing Now for Future Technology and Innovation, (Credit: marcusrg/ flickr/ Attribution 2.0 Generic (CC BY 2.0)), https://openstax.org/books/principles-management/pages/1-introduction, https://openstax.org/books/principles-management/pages/17-introduction, Creative Commons Attribution 4.0 International License.

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