Chapter Outline

I. Red Envelope - Marketing Upscale Gifts Online
A. A new mission and strategy
B. The new marketing plan
C. The results

II. Marketing challenges addressed in Chapter 1

III. Why are Marketing Decisions Important?
A. The importance of the top line

IV. Marketing Creates Value by Facilitating Exchange Relationships
A. What factors are necessary for a successful exchange relationship?

1. Who markets and who buys? The parties in an exchange
2. Customer needs and wants
3. What gets exchanged? Products and services
4. How exchanges create value
5. Defining a market

V. What Does Effective Marketing Practice Look Like?
A. Marketing Management - A definition
B. Integrating marketing plans with the company’s strategies and resources
C. Market opportunity analysis
D. Formulating strategic marketing programs
E. Formulating strategic marketing programs for specific situations
F. Implementation and control of the marketing program
G. The marketing plan - a blueprint for action

VI. Who Does What?
A. Marketing institutions
B. Who pays the cost of marketing activities - and are they worth it?
C. Room for improvement in marketing efficiency
D. The role of the marketing decision maker

VII. One Role for New Business School Grads: Keeping Their Firms Current in a Rapidly Changing World
A. Globalization
B. Increased importance of service
C. Information technology
D. Relationships across functions and firms