viii Contents Unit 1 Marketing Dynamics 2 Chapter 1 Introduction to Marketing. . . . . . . . 4 Section 1.1 Marketing Defined . . . . . . . . . . . 6 Section 1.2 Marketing Basics . . . . . . . . . . . 9 Chapter 1 Review and Assessment . . . . . . 17 Chapter 2 Marketing Plan . . . . . . . . . . . . . . 20 Section 2.1 Researching a Marketing Plan . . . 22 Section 2.2 Developing a Marketing Plan . . . 27 Chapter 2 Review and Assessment . . . . . . 33 Chapter 3 Business Basics . . . . . . . . . . . . . 36 Section 3.1 Business Defined . . . . . . . . . . 38 Section 3.2 Laws and Regulations . . . . . . 43 Chapter 3 Review and Assessment . . . . . . 49 Chapter 4 Ethics and Social Responsibility . . 52 Section 4.1 Ethics . . . . . . . . . . . . . . . . . . . 54 Section 4.2 Social Responsibility . . . . . . . 59 Chapter 4 Review and Assessment . . . . . . 63 Building the Marketing Plan . . . . . . . . . . . . . . 66 Unit 2 Economics 68 Chapter 5 Economic Principles . . . . . . . . . . 70 Section 5.1 Introduction to Economics. . . . 72 Section 5.2 Economic Systems and Market Forces . . . . . . . . . . . . . . . . . . . 78 Chapter 5 Review and Assessment . . . . . . 85 Chapter 6 Economic Activity . . . . . . . . . . . . 88 Section 6.1 Economic Measurement . . . . . 90 Section 6.2 Government and the Economy. . .99 Chapter 6 Review and Assessment . . . . . 103 Chapter 7 Global Trade . . . . . . . . . . . . . . . 106 Section 7.1 Global Business Environment. . . .108 Section 7.2 Global Marketplace . . . . . . . . .113 Chapter 7 Review and Assessment . . . . . 120 Building the Marketing Plan. . . . . . . . . . . . . 123 Unit 3 Marketing-Information Management 124 Chapter 8 Marketing Research . . . . . . . . . 126 Section 8.1 Marketing-Research Data . . . 128 Section 8.2 Conducting Marketing Research . . . . . . . . . . . . . . . . . . . . . . 138 Chapter 8 Review and Assessment . . . . . 143 Chapter 9 Targeting a Market . . . . . . . . . . 146 Section 9.1 Identify the Market . . . . . . . . 148 Section 9.2 Evaluate the Competition . . . 156 Chapter 9 Review and Assessment . . . . . 163 Chapter 10 Understanding the Customer . . . 166 Section 10.1 B2C Customers . . . . . . . . . . 168 Section 10.2 B2B Customers. . . . . . . . . . 175 Section 10.3 Credit Basics. . . . . . . . . . . . 180 Chapter 10 Review and Assessment . . . . 184 Building the Marketing Plan. . . . . . . . . . . . . 188 Unit 4 Product 190 Chapter 11 Product . . . . . . . . . . . . . . . . . . 192 Section 11.1 Product . . . . . . . . . . . . . . . . 194 Section 11.2 New-Product Development Process . . . . . . . . . . . . . . . . . . . . . . . 201 Chapter 11 Review and Assessment . . . . 211 Chapter 12 Branding . . . . . . . . . . . . . . . . . 214 Section 12.1 Product Branding . . . . . . . . 216 Section 12.2 Brand Identity and Protection . . . . . . . . . . . . . . . . . . . . . . 221 Chapter 12 Review and Assessment . . . . 226 Building the Marketing Plan . . . . . . . . . . . . . 229 Unit 5 Price 230 Chapter 13 Price . . . . . . . . . . . . . . . . . . . . 232 Section 13.1 Importance of Price . . . . . . . 234 Section 13.2 Price Influencers . . . . . . . . . 238 Chapter 13 Review and Assessment . . . . 245 Chapter 14 Pricing Product . . . . . . . . . . . . 248 Section 14.1 Pricing Strategies . . . . . . . . 250