Page 17 - Marketing Management

Preface

What’s New in the 14th Edition

The overriding goal of the revision for the 14th edition of Marketing Management was to
create as comprehensive, current, and engaging MBA marketing textbook as possible. Where
appropriate, new material was added, old material was updated, and no longer relevant or
necessary material was deleted. Marketing Management, 14th edition, allows those instructors
who have used the 13th edition to build on what they have learned and done while at the same
time offering a text that is unsurpassed in breadth, depth, and relevance for students experi-
encing Marketing Management for the first time.
The successful across-chapter reorganization into eight parts that began with the 12th edi-
tion of Marketing Management has been preserved, as well as many of the favorably received
within-chapter features that have been introduced through the years, such as topical chapter
openers, in-text boxes highlighting noteworthy companies or issues, and the Marketing Insight
and Marketing Memo boxes that provide in-depth conceptual and practical commentary.
Significant changes to the 14th edition include:
• Brand new opening vignettes for each chapter set the stage for the chapter material to fol-
low. By covering topical brands or companies, the vignettes are great classroom discussion
starters.
• Almost half of the in-text boxes are new. These boxes provide vivid illustrations of chapter
concepts using actual companies and situations. The boxes cover a variety of products,
services, and markets, and many have accompanying illustrations in the form of ads or
product shots.
• The end-of-chapter section now includes two Marketing in Action mini-cases highlighting
innovative, insightful marketing accomplishments by leading organizations. Each case in-
cludes questions that promote classroom discussion and analysis.
• Dramatic changes in the marketing environment have occurred in recent years—in particular,
the economic, natural, and technological environments. Throughout the new edition, these
three areas are addressed, sometimes via new subsections in chapters, with emphasis on
marketing during economic downturns and recessions, the rise of sustainability and “green”
marketing, and the increased development of computing power, the Internet, and mobile
phones. These new marketing realities make it more important than ever for marketers to be
holistic in what they do, the overriding theme of this text.
• Chapter 19, on personal communications, received a significant update with much new
material to reflect the changing social media landscape and communications environment.
• Forecasting has been moved to Chapter 3 where it fits well with the material on the market-
ing environment.
• Chapter 5 was re-titled as “Creating Long-Term Loyalty Relationships” to better reflect its
stronger area of emphasis.
• Chapters 10 and 11 were reorganized and material swapped. Chapter 11 was also re-titled
as “Competitive Dynamics” to acknowledge the significant material added on marketing in
an economic downturn.

What Is Marketing Management All About?

Marketing Management is the leading marketing text because its content and organization
consistently reflect changes in marketing theory and practice. The very first edition of
Marketing Management, published in 1967, introduced the concept that companies must be
customer-and-market driven. But there was little mention of what have now become funda-
mental topics such as segmentation, targeting, and positioning. Concepts such as brand
equity, customer value analysis, database marketing, e-commerce, value networks, hybrid
channels, supply chain management, and integrated marketing communications were not

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