Sometimes you need more then a one-sentence answer. While the term
marketing
generally refers to what a company does to create value for customers, practicing marketers know they have a major role in setting their company’s strategic direction. Successful marketing requires a deep knowledge of customers, competitors, and collaborators—and great skill in serving customers profitably.
The book provides the foundation for developing those skills and insights. It’s organized according to the design of the first-year marketing course in Harvard Business School’s MBA program. Each chapter was written by HBS faculty and used by MBA students to analyze marketing opportunities and develop and execute successful marketing strategies. Areas covered include:
Consumer behavior
Business-to-business markets
The four P’s-product, placement, promotion and price
Market segmentation, target market selection, and positioning
Unique value propositions
The design of new products and services
Product line extensions and repositioning of exciting businesses
Brand valuation and brand equity
Fulfillment and after-sale service
Direct, retail, and wholesale distribution channels and networks
Marketing communications and promotions
Advertising, public relations, and choice of media
Pricing for profitability
Personal selling and sales management
Customer relationship management and customer privacy
Customer acquisition, retention, and dismissal
Basic math for making marketing decisions
Timeless yet timely, this book provides valuable background information for understanding and interpreting business and competition from a marketing point of view. That makes it useful in both formal and informal educational settings, including on-the-job training. Simply put, it’s required reading for marketing students and a must-have recourse for marketing professionals.