Principles of Marketing – IE Liquid Pages

Principles
of Marketing

By IE University

Chapters

Table of contents

PART 1: DEFINING MARKETING AND THE MARKETING PROCESS
- Chapter 1: Marketing: Creating Customer Value and Engagement
- Chapter 2: Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships
PART 2: UNDERSTANDING THE MARKETPLACE AND CONSUMER VALUE
PART 3: DESIGNING A CUSTOMER VALUE–DRIVEN STRATEGY AND MIX
PART 4: EXTENDING MARKETING
APPENDICES

Chapter 1: Marketing: Creating Customer Value and Engagement

Chapter 2: Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Chapter 3: Analyzing the Marketing Environment

Chapter 4: Managing Marketing Information to Gain Customer Insight

Chapter 5: Consumer Markets and Buyer Behavior

Chapter 6: Business Markets and Business Buyer Behavior

Chapter 7: Customer Value–Driven Marketing Strategy: Creating Value for Customers

Chapter 8: Products, Services, and Brands Building Customer Value

Chapter 9: Developing New Products and Managing the Product Life Cycle

Chapter 10: Pricing Understanding and Capturing Customer Value

Chapter 11: Pricing Strategies Additional Considerations

Chapter 12: Marketing Channels Delivering Customer Value

Chapter 13: Retailing and Wholesaling

Chapter 14: Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Chapter 15: Advertising and Public Relations

Chapter 16: Personal Selling and Sales Promotion

Chapter 17: Direct, Online, Social Media, and Mobile Marketing

Chapter 18: Creating Competitive Advantage

Chapter 19: The Global Marketplace

Chapter 20: Sustainable Marketing Social Responsibility and Ethics

Appendix 1: Marketing Plan

Appendix 2: Marketing by the Numbers

Appendix 3: Careers in Marketing

Key Learning Points*

Define Marketing and outline the steps in the marketing process.
Explain the importance of understanding the marketplace and customers and identify the five core marketplace concepts.
Identify the key elements of customer value-driven marketing strategy and discuss the marketing management orientations that guide marketing strategy.
Discuss customer relationship management and identify strategies for creating value for customer and capturing value from customer in return.
Describe the major trends and forces that are changing the marketing landscapes in this age of relationships.

^*Retrieved from Kotler, P., & Armstrong, G. (2020). Principles of Marketing, Global Edition (18^th ed.). Pearson, p. 22.

This access is only available for IE students.

Key Learning Points*

Explain company-wide strategic planning and its four steps
Discuss how to design business portfolios and develop growth strategies
Explain marketing’s role in the strategic planning and how marketing works with its partners to create and deliver customer value
Describe the elements of a customer value-driven marketing strategy and mix and the forces that influence them
List the marketing management functions, including the elements of a marketing plan, and discuss the importance of measuring and managing marketing return on investment

^*Retrieved from Kotler, P., & Armstrong, G. (2020). Principles of Marketing, Global Edition (18^th ed.). Pearson, p. 56.

This access is only available for IE students.

Key Learning Points*

Describe the environmental forces that affect the company’s ability to serve its customers.
Explain how changes in the demographic and economic environments affect marketing decisions.
Identify the major trends in the firm’s natural and technological environments.
Explain the key changes in the political and cultural environments.
Discuss how companies can react to the marketing environment.

^*Retrieved from Kotler, P., & Armstrong, G. (2020). Principles of Marketing, Global Edition (18^th ed.). Pearson, p. 84.

This access is only available for IE students.

Key Learning Points*

Explain the importance of information in gaining insights about the marketplace and customers.
Define the marketing information system and discuss its parts.
Outline the role of marketing research and the steps in the marketing research process.
Explain how companies analyze and use marketing information.
Discuss the special issues some marketing researchers face, including public policy and ethics issues.

^*Retrieved from Kotler, P., & Armstrong, G. (2020). Principles of Marketing, Global Edition (18^th ed.). Pearson, p. 116.

This access is only available for IE students.

Key Learning Points*

Define the consumer market and construct a simple model of consumer buyer behavior.
Name the four major factors that influence consumer buyer behavior.
List and define the major types of buying decision behavior and the stages in the buyer decision process.
Describe the adoption and diffusion process for new products.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 150.

This access is only available for IE students.

Key Learning Points*

Define the business market and explain how business markets differ from consumer markets.
Identify the major factors that influence business buyer behavior.
List and define the steps in the business buying decision process.
Discuss how online, mobile, and social media have changed business-to-business marketing.
Compare the institutional and government markets and explain how institutional and government buyers make their buying decisions.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 180.

This access is only available for IE students.

Key Learning Points*

Define the major steps in designing a customer value–driven marketing strategy: market segmentation, targeting, differentiation, and positioning.
List and discuss the major bases for segmenting consumer and business markets.
Explain how companies identify attractive market segments and choose a market-targeting strategy.
Discuss how companies differentiate and position their products for maximum competitive advantage.

^*Retrieved from Kotler, P., & Armstrong, G. (2020). Principles of Marketing, Global Edition (18^th ed.). Pearson, p. 202.

This access is only available for IE students.

Key Learning Points*

Define product and describe the major classifications of products and services.
Describe the decisions companies make regarding their individual products and services, product lines, and product mixes.
Identify the four characteristics that affect the marketing of services and the additional marketing considerations that services require.
Discuss branding strategy— the decisions companies make in building and managing their brands.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 232.

This access is only available for IE students.

Key Learning Points*

Explain how companies find and develop new product ideas.
List and define the steps in the new product development process and the major considerations in managing this process.
Describe the stages of the product life cycle and how marketing strategies change during a product’s life cycle.
Discuss two additional product issues: socially responsible product decisions and international product and services marketing.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 268.

This access is only available for IE students.

Key Learning Points*

Answer the question “What is price?” and discuss the importance of pricing in today’s fast-changing environment.
Define price, identify the three major pricing strategies, and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.
Identify and define the other important external and internal factors affecting a firm’s pricing decisions.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 294.

This access is only available for IE students.

Key Learning Points*

Describe the major strategies for pricing new products.
Explain how companies find a set of prices that maximizes the profits from the total product mix.
Discuss how companies adjust their prices to take into account different types of customers and situations.
Discuss the key issues related to initiating and responding to price changes.
Discuss the major public policy concerns and key pieces of legislation that affect pricing decisions.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 316.

This access is only available for IE students.

Key Learning Points*

Explain why companies use marketing channels and discuss the functions these channels perform.
Identify the major channel alternatives open to a company.
Explain how companies select, motivate, and evaluate channel members.
Discuss the nature and importance of marketing logistics and integrated supply chain management.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 342.

This access is only available for IE students.

Key Learning Points*

Explain the role of retailers in the distribution channel and describe the major types of retailers.
Discuss how retailers are using omni-channel retailing to meet the cross-channel shopping behavior of today’s digitally connected consumers.
Describe the major retailer marketing decisions.
Discuss the major trends and developments in retailing.
Explain the major types of wholesalers and their marketing decisions.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 374.

This access is only available for IE students.

Key Learning Points*

Define the five promotion mix tools for communicating customer value.
Discuss the changing communications landscape and the need for integrated marketing communications.
Outline the communication process and the steps in developing effective marketing communications.
Explain the methods for setting the promotion budget and factors that affect the design of the promotion mix.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 408.

This access is only available for IE students.

Key Learning Points*

Define the role of advertising in the promotion mix.
Describe the major decisions involved in developing an advertising program.
Define the role of public relations in the promotion mix.
Explain how companies use PR to communicate with their publics.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 434.

This access is only available for IE students.

Key Learning Points*

Discuss the role of a company’s salespeople in engaging customers, creating customer value, and building customer relationships.
Identify and explain the six major sales force management steps.
Discuss the personal selling process, distinguishing between transaction-oriented marketing and relationship marketing.
Explain how sales promotion campaigns are developed and implemented.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 462.

This access is only available for IE students.

Key Learning Points*

Define direct and digital marketing and discuss their rapid growth and benefits to customers and companies.
Identify and discuss the major forms of direct and digital marketing.
Explain how companies have responded to the digital age with various online marketing strategies.
Discuss how companies use social media and mobile marketing to engage consumers and create brand community.
Identify and discuss the traditional direct marketing forms and overview public policy and ethical issues presented by direct marketing.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 492.

This access is only available for IE students.

Key Learning Points*

Discuss the need to understand competitors as well as customers through competitor analysis.
Explain the fundamentals of competitive marketing strategies based on creating value for customers.
Illustrate the need for balancing customer and competitor orientations in becoming a truly market-centered organization.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 524.

This access is only available for IE students.

Key Learning Points*

Discuss how the international trade system and the economic, political-legal, and cultural environments affect a company’s international marketing decisions.
Describe three key approaches to entering international markets.
Explain how companies adapt their marketing strategies and mixes for international markets.
Identify the three major forms of international marketing organization.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 549.

This access is only available for IE students.

Key Learning Points*

Define sustainable marketing and discuss its importance.
Identify the major social criticisms of marketing.
Define consumerism and environmentalism and explain how they affect marketing strategies.
Describe the principles of sustainable marketing.
Explain the role of ethics in marketing.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 580.

This access is only available for IE students.

Key Learning Points*

Learn how to build a good marketing plan in order to achieve your organization’s strategic objectives, providing direction and focus for your brand, product and company.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 609.

This access is only available for IE students.

Key Learning Points*

Measure your marketing financial performance in order to make sound marketing decisions and to assess the outcomes of those decisions.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 619.

This access is only available for IE students.

Key Learning Points*

Discover which marketing career best suits your skills and interests, the job opportunities that are open to you, and how to conduct the type of job search that will get you to the position you want.

^*Retrieved from Kotler, P., & Armstrong, G. (2018). Principles of Marketing (18^th ed.). Pearson, p. 637.

This access is only available for IE students.

Learning Assets

Business Goals for Digital Marketing

By Prof. Pedro Moreno de los Ríos Garcia-Lomas

In this video, Professor Moreno discusses how to use SMART goals to reach objectives and drive more successful digital marketing campaigns.

Learning Assets

The S.W.O.T. Analysis Tool

By Profs. Joaquin Gabriel Garralda, Ruiz De Velasco and Jorge Fernandez Vidal

This interactive tutorial introduces the fundamentals of the SWOT analysis tool, the difficulties of its application, and how to overcome them.

Product Strategy Matrices: BCG Matrix

By Prof. Fernando Cortinas

In this video, Professor Fernando Cortinas discusses the growth-share matrix, or BCG, and how it helps businesses analyze their business units and product lines.

Product Strategy Matrices: Ansoff Matrix

By Prof. Fernando Cortinas

In this video, Professor Fernando Cortinas explains what the Ansoff Matrix is and what is it useful for as a strategy design framework.

Learning Assets

The S.W.O.T. Analysis Tool

By Profs. Joaquin Gabriel Garralda, Ruiz De Velasco and Jorge Fernandez Vidal

This interactive tutorial introduces the fundamentals of the SWOT analysis tool, the difficulties of its application, and how to overcome them.

Product Strategy Matrices: BCG Matrix

By Prof. Fernando Cortinas

In this video, Professor Fernando Cortinas discusses the growth-share matrix, or BCG, and how it helps businesses analyze their business units and product lines.

Product Strategy Matrices: Ansoff Matrix

By Prof. Fernando Cortinas

In this video, Professor Fernando Cortinas explains what the Ansoff Matrix is and what is it useful for as a strategy design framework.

Learning Assets

Market research

By Prof. Ángel María del Castillo Puente

Market research is an interactive technical note which shows the process of market research in a very practical manner. Students take on the role of Product Manager working for a company in the soft drinks sector and are responsible for a new product launch.

Market Research Process

By Prof. Jaime Vaiga Mateo

In this video, Jaime Veiga discusses the optimal process a company has to follow when launching a market research project. The first point he discusses is that research has to be done when the company wants to take a decision, this could be investment decision, launch of new product. Before any research, the company needs to be clear on the business question (linked to objectives of KPIs) and research question (linked to the consumer). After you are clear on this, then you can proceed with the design of the research you would like to do.

Learning Assets

Consumer Behaviors and Drivers

By By Prof. Jaime Veiga Mateos

This video covers why consumer behavior is important for market research and the factors or drivers, such as cultural, social, and personal, that drive those behaviors and how they influence the purchasing decision.

Why is the Consumer behavior important in the marketing process framework?

By By Prof. Shameek Shinha

In this video, professor Shinha introduces consumer behavior fundamentals.

Learning Assets

Buying Situation Comparisons & Buygrid Framework

By By Prof. Shameek Shinha

In this vides, professor Shinha explains and compares consumer markets (B2C) and organizational markets (B2B).

Learning Assets

Market Segments and Segmentation Criteria

By Prof. José Ignacio Gafo

In this video, Professor Gafo discusses market segmentation, defining the term and explaining different criteria used in market segmentation.

By Prof. María Teresa Serra Rexach and Roberto Manzano Antón

The technical note Positioning shows the basic concept of positioning, segmentation, and differentiation in a didactical and entertaining way.

With the help of an introductory animation, different ways of segmentation are shown, and positioning is underlined as one of the strategic pieces of a marketing plan. Different multimedia examples and some short exercises complete the documentation.

Positioning Map Feedback

By Prof. José Ignacio Gafo

In this video, Professor Gafo provides feedback from a course exercise on perceptual maps and positioning maps.

Framework, Points of Parity and Points of Difference

By Prof. José Ignacio Gafo

In this video, Professor José Ignacio Gafo explains the importance of a frame of reference (points of parity and points of difference) by going through some interesting examples.

How to Come up with Points of Difference

By Prof. José Ignacio Gafo

In this video, Professor José Ignacio Gafo delves into the concept of points of difference.

The Frame of Reference

By Prof. Maria Eizaguirre

Brand identity and Strategy is an IE Business School course for those professionals who are ready to adopt a creative approach to empowering brands. Students will go through a journey that starts with understanding what a brand is and how they can build successful ones, whilst simultaneously segmenting their consumers appropriately. It culminates in development of real brand houses, which can be applied to the working world, and how picking the right name, colors and logo can be instrumental to a brand’s success.

Learning Assets

Set Up Distribution Systems

By Prof. Jose Ignacio Gafo

In this video, Professor Gafo explains how to set up a distribution system for a company, taking into account customer types, roles and responsibilities, types of channels, and coverage, structure and compensation for each system.

Learning Assets

Digital Marketing: Social Media and Mobile Marketing

By Prof. Dushinka Karani

In this technical note, students will get an introduction to key concepts in digital marketing, social media and mobile marketing. It should serve as an introduction to the topic that they can refer to throughout their studies to refresh key ideas and concepts. Through the multimedia, they will be able to read the technical information on the right side of the screen while, on the left side of the screen, they will scroll through an example. This will be presented through Maria and her journey through the different digital marketing channels while looking for a hotel in India. The example will be the more visually appealing part of the multimedia, presented through pictures and videos.

Learning Assets

Building the Executive Introduction of Your Marketing Plan

By Prof. Jose Ignacio Gafo

In this video, Professor Gafo outlines the structure of the marketing plan and discusses the elements that must be included in the executive introduction of the marketing plan.

Building the Strategy of your Marketing Plan

By Prof. Jose Ignacio Gafo

In this video, Professor Gafo explains how to build the strategic component of the marketing plan, including how to define and establish objectives, how to conduct a situation analysis, and how to bring data together to guide strategy.

The Marketing Plan Structure

By Prof. Jose Ignacio Gafo

In this video, Professor Gafo discusses the purpose and structure of the marketing plan.

Building the Operations of your Marketing Plan

By Prof. Jose Ignacio Gafo

In this video, Professor Gafo discusses how to outline and implement the marketing plan, explaining the considerations to be taken when presenting the plan and how to ensure that the plan is actionable and reflective of the marketing strategy.