Kerin marketing the core 8th edition

Roger A. Kerin Steven W. Hartley

MARKETING THE CORE

Eighth Edition

MARKETING: THE CORE

Eighth Edition

Roger A. Kerin Southern Methodist University

Steven W. Hartley University of Denver

MARKETING: THE CORE, EIGHTH EDITION

Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2020 by McGraw-Hill Education. All rights reserved. Printed in the United States of America. Previous editions © 2018, 2016, and 2013. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of McGraw-Hill Education, including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.

Some ancillaries, including electronic and print components, may not be available to customers outside the United States.

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ISBN 978-1-260-71145-5 (bound edition) MHID 1-260-71145-5 (bound edition) ISBN 978-1-260-08886-1 (loose-leaf edition) MHID 1-260-08886-3 (loose-leaf edition)

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All credits appearing on page or at the end of the book are considered to be an extension of the copyright page.

Library of Congress Cataloging-in-Publication Data

Names: Kerin, Roger A., author. | Hartley, Steven William, author. Title: Marketing : the core / Roger A. Kerin, Southern Methodist University, Steven W. Hartley, University of Denver. Description: Eighth edition. | New York, NY : McGraw-Hill Education, [2020] | Audience: 18+ Identifiers: LCCN 2018048487| ISBN 9781260088861 (alk. paper) | ISBN 1260088863 (alk. paper) Subjects: LCSH: Marketing. Classification: LCC HF5415 .K452 2020 | DDC 658.8—dc23 LC record available at https://lccn.loc.gov/2018048487

The Internet addresses listed in the text were accurate at the time of publication. The inclusion of a website does not indicate an endorsement by the authors or McGraw-Hill Education, and McGraw-Hill Education does not guarantee the accuracy of the information presented at these sites.

mheducation.com/highered

WELCOME FROM THE AUTHORS!

Is technology an integral part of yo ur life? Are you innovative and entr

epreneurial? Do you consider

purpose-driven work important? Ha ve you ever thought you could cha

nge the world? If the answer

to any of these questions is yes, yo ur decision to study marketing is a

perfect match! In addition, if

you are curious about robots in the marketplace, virtual reality and aug

mented reality in advertising,

wearable technology, YouTube cha nnel brand advocates, shopping on

Pinterest, or the gamification

of almost everything, you will be exc ited by the insights you will learn du

ring your studies. And we are

excited to have the opportunity to h elp you along the way with our text

book about this exciting field!

We know from our experiences in the classroom that students choo

se to study marketing for

many reasons. For marketing majo rs this course is the first of many o

n the way to a marketing de-

gree. For students from other busi ness majors this may be a required

course in a business “core.”

For many other students, marketin g is an elective chosen because

of a personal interest in the

marketplace. Regardless of your r easons for taking this course, it is

our pleasure to help you ex-

plore the many new trends, conc epts, practices, challenges, and o

pportunities that are part of

marketing today. We encourage yo u to use your own past experience

s and future interests to cre-

ate a personalized journey of expl oration and study.

The dynamic nature of the marke ting discipline necessitates equa

lly dynamic learning re-

sources. As a result, we have focus ed our time and energy on ensurin

g that our textbook provides

the most current, insightful, and co mprehensive coverage of the mar

ketplace today. The dramatic

changes in student learning styles —from traditional observational sty

les to contemporary collab-

orative styles—are also reflected in our efforts as we have included m

any features to match these

interests. Our approach to present ing the complexities of marketing a

nd facilitating the changes in

learning is based on three importa nt dimensions:

• Engagement. As professors we have benefited from interactions

with many exceptional stu-

dents, managers, and instructors. T heir insights have contributed to o

ur approach to teaching

and, subsequently, to our efforts as textbook authors. One of the esse

ntial elements of our ap-

proach is a commitment to active l earning through engaging, integra

ted, and timely materials.

In-class activities, an interactive bl og, marketing plan exercises, and

in-text links to online ads

and web pages are just a few exam ples of the components of our eng

agement model.

• Leadership. Our approach is als o based on a commitment to takin

g a leadership role in the

development and presentation of new ideas, principles, theories, an

d practices in marketing.

This is more important now than e ver before, as the pace of change

in our discipline acceler-

ates and influences almost every a spect of traditional marketing. We a

re certain that exposure

to leading-edge material related to topics such as social media, data

analytics, and marketing

metrics can help students become leaders in their jobs and careers.

• Innovation. New educational tec hnologies and innovative teaching

tools have magnified the

engagement and leadership aspe cts of our approach. Connect, Lea

rnSmart, and SmartBook,

for example, provide a digital and interactive platform that embrace

s the “anytime and any-

where” style of today’s students. In addition, we have provided new v

ideos and increased the

visual impact of the text and Pow erPoint materials to facilitate mul

timedia approaches to

learning.

Through the previous 7 U.S. editio ns—and 19 international editions in

11 languages—we have

been gratified by the enthusiastic feedback we have received from

students and instructors. We

are very excited to have this oppo rtunity to share our passion for thi

s exciting discipline with you

today. Welcome to the 8th edition of Marketing: The Core! Roger A. Kerin

Steven W. Hartley

iii

iv

Marketing: The Core utilizes a unique, innovative, and effective pedagogical approach developed by the authors through the integration of their combined classroom, college, and university experiences. The elements of this approach have been the foundation for each edition of Marketing: The Core and serve as the core of the text and its supplements as they evolve and adapt to changes in student learning styles, the growth of the marketing discipline, and the development of new instructional technologies. The distinctive features of the approach are illustrated below:

The goal of the 8th edition of Marketing: The Core is to create an exceptional experience for today’s students and instructors of marketing. The development of Marketing: The Core was based on a rigorous process of assessment, and the outcome of the process is a text and package of learning tools that are based on engagement, leadership, and innovation in marketing education.

PREFACE

Personalized Marketing A vivid and accurate

description of businesses, marketing professionals, and

entrepreneurs—through cases, exercises, and testimonials—

that allows students to personalize marketing and

identify possible career interests.

Marketing: The Core 8/e

Pedagogical Approach

High-Engagement Style Easy-to-read, high-

involvement, interactive writing style that engages students through active

learning techniques.

Rigorous Framework A pedagogy based on the use of learning objectives, learning reviews, learning objectives reviews, and

supportive student supplements.

Traditional and Contemporary Coverage

Comprehensive and integrated coverage of

traditional and contemporary marketing concepts.

Integrated Technology The use of powerful

technical resources and learning solutions, such as

Connect, LearnSmart, SmartBook, the Kerin &

Hartley Blog (www.kerinmarketing.com),

and in-text video links.

Marketing Decision Making

The use of extended examples, cases, and videos

involving people making marketing decisions.

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The members of this author team have benefited from extraordinary experiences as instructors, researchers, and consultants, as well as the feedback of users of previous editions of Marketing: The Core—now more than one million students! The authors believe that success in marketing education in the future will require the highest levels of engagement. They ensure engagement by facilitating interaction between students and four learning partners—the instructor, other students, busi- nesses, and the publisher. Some examples of the high-engagement elements of Marketing: The Core include:

In-Class Activities and Digital In-Class Activities. The in-class activities, located in the Instructor’s Manual, are designed to engage students in discussions with the instructor and among themselves. They involve surveys, online resources, out-of-class assignments, and personal observations. Each activity illustrates a con- cept from the textbook and can be done individually or as a team. Examples include: Designing a Candy Bar, Marketing Yourself, Pepsi vs. Coke Taste Test, and What Makes a Memorable TV Commercial? In addition, digital in-class activities have been added to selected chapters. These activities, located in the Instructor Resources, focus on the use of web resources and the marketing data they can provide students.

Interactive Web Page and Blog (www.kerinmarketing.com). Students can access recent articles about marketing and post comments for other students. The site also provides access to a Marketing: The Core Twitter feed!

Building Your Marketing Plan. The Building Your Marketing Plan guides at the end of each chapter are based on the format of the Marketing Plan presented in Appendix A. On the basis of self-study or as part of a course assignment, students can use the activities to organize interactions with businesses to build a marketing plan. Students and employers often suggest that a well-written plan in a student’s portfolio is an asset in today’s competitive job market.

ENGAGEMENT

vi

The popularity of Marketing: The Core in the United States and around the globe is the result, in part, of the leadership role of the authors in developing and presenting new marketing content and pedagogies. For example, Marketing: The Core was the first text to integrate ethics, technology, and interactive marketing. It was also the first text to develop custom-made videos to help illustrate marketing principles and practices and bring them to life for students as they read the text. The authors have also been leaders in developing new learning tools, such as a three-step learning process that includes learning objectives, learning reviews, and learning objectives reviews and new testing materials that are based on Bloom’s learning taxonomy. Other elements that show how Marketing: The Core is a leader in the discipline include: