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Product sales, especially for new products, are influenced by many factors. These factors are both internal and external to the selling organization, and are both controllable and uncontrollable. Due to the enormous complexity of such factors, it is not surprising that product failure rates are relatively high. Indeed, new product failure rates have variously been reported as between 40 and 90 percent. Despite this multitude of factors, marketing researchers have not been deterred from developing and designing techniques to predict or explain the levels of new product sales over time. The proliferation of the internet, the necessity or developing a road map to plan the launch and exit times of various generations of a product, and the shortening of product life cycles are challenging firms to investigate market penetration, or innovation diffusion, models. These models not only provide information on new product sales over time but also provide insight on the speed with which a new product is being accepted by various buying groups, such as those identified as innovators, early adopters, early majority, late majority, and laggards. New Product Diffusion Models aims to distill, synthesize, and integrate the best thinking that is currently available on the theory and practice of new product diffusion models. This state-of-the-art assessment includes contributions by individuals who have been at the forefront of developing and applying these models in industry. The book's twelve chapters are written by a combined total of thirty-two experts who together represent twenty-five different universities and other organizations in Australia, Europe, Hong Kong, Israel, and the United States. The book will be useful for researchers and students in marketing and technological forecasting, as well as those in other allied disciplines who study relevant aspects of innovation diffusion. Practitioners in high-tech and consumer durable industries should also gain new insights from New Product Diffusion Models. The book is divided into five parts: I. Overview; II. Strategic, Global, and Digital Environments for Diffusion Analysis; III. Diffusion Models; IV. Estimation and V. Applications and Software. The final section includes a PC-based software program developed by Gary L. Lilien and Arvind Rangaswamy (1998) to implement the Bass diffusion model. A case on high-definition television is included to illustrate the various features of the software. A free, 15-day trial access period for the updated software can be downloaded from http://www.mktgeng.com/diffusionbook. Among the book's many highlights are chapters addressing the implications posed by the internet, globalization, and production policies upon diffusion of new products and technologies in the population.
Loyalty is one of the main assets of a brand. In today’s markets, achieving and maintaining loyal customers has become an increasingly complex challenge for brands due to the widespread acceptance and adoption of diverse technologies by which customers communicate with brands. Customers use different channels (physical, web, apps, social media) to seek information about a brand, communicate with it, chat about the brand and purchase its products. Firms are thus continuously changing and adapting their processes to provide customers with agile communication channels and coherent, integrated brand experiences through the different channels in which customers are present. In this context, understanding how brand management can improve value co-creation and multichannel experience—among other issues—and contribute to improving a brand’s portfolio of loyal customers constitutes an area of special interest for academics and marketing professionals. This Special Issue explores new areas of customer loyalty and brand management, providing new insights into the field. Both concepts have evolved over the last decade to encompass such concepts and practices as brand image, experiences, multichannel context, multimedia platforms and value co-creation, as well as relational variables such as trust, engagement and identification (among others).
The third edition of Market-Led Strategic Change builds on the massive success of the previous two editions, popular with lecturers and students alike, presenting an innovative approach to solving an old problem: making marketing happen! In his witty and direct style, Nigel Piercy has radically updated this seminal text, popular with managers, students, and lecturers alike, to take into account the most recent developments in the field. With a central focus on customer value and creative strategic thinking, he fully evaluates the impact of electronic business on marketing and sales strategy, and stresses the goal of totally integrated marketing to deliver superior customer value. "Reality Checks" throughout the text challenge the reader to be realistic and pragmatic. The book confronts the critical issues now faced in strategic marketing: · escalating customer demands driving the imperative for superior value · totally integrated marketing to deliver customer value · the profound impact of electronic business on customer relationships · managing processes like planning and budgeting to achieve effective implementation At once pragmatic, cutting-edge and thought-provoking, Market-Led Strategic Change is essential reading for all managers, students and lecturers seeking a definitive guide to the demands and challenges of strategic marketing in the 21st century. Hugely successful previous editions Thoroughly updated with and new cases 'Reality Checks' in each chapter to encourage pragmatic mindset
The creation and management of customer relationships is fundamental to the practice of marketing. Marketers have long maintained a keen interest in relationships: what they are, why they are formed, what effects they have on consumers and the marketplace, how they can be measured and when and how they evolve and decline. While marketing research has a long tradition in the study of business relationships between manufacturers and suppliers and buyers and sellers, attention in the past decade has expanded to the relationships that form between consumers and their brands (such as products, stores, celebrities, companies or countries). The aim of this book is to advance knowledge about consumer-brand relationships by disseminating new research that pushes beyond theory, to applications and practical implications of brand relationships that businesses can apply to their own marketing strategies. With contributions from an impressive array of scholars from around the world, this volume will provide students and researchers with a useful launch pad for further research in this blossoming area.
The Fourth Edition of Social Marketing is the definitive textbook for the planning and implementation of programs designed to bring about social change. No other text is as comprehensive and foundational when it comes to taking key marketing principles and applying them to campaigns and efforts to influence social action. It provides a solid foundation of fundamental marketing principles and techniques, and then expands them to illustrate techniques specific to practitioners and agencies with missions to enhance public health, prevent injuries, protect the environment, and motivate community involvement.This book is coauthored by arguably the most influential individual in the field of marketing, Philip Kotler, who coined the term "social marketing" in 1971 (with Gerald Zaltman) and Nancy R. Lee, a preeminent lecturer, consultant, and author in social marketing. Key Features: - Presents an introductory case for each chapter, and a concluding case for a majority of chapters to demonstrate for students why and how social marketing works. - Enhances understanding with chapter summaries of key points and questions for discussion. - Provides a step-by-step guide to developing a marketing plan, with chapters presented sequentially to support planning development and the inclusion of worksheets in the appendix; - It incorporates contributions from a range of internationally known social marketers who provide real cases to set the stage for each chapter. Past contributors have included individuals from the CDC, National Centre for Social Marketing, AARP, the Office of National Drug Control Policy, and others.
This book addresses the emerging field of neuromarketing, which, at its core, aims to better understand the impact of marketing stimuli by observing and interpreting human emotions. It includes contributions from leading researchers and practitioners, venturing beyond the tactics and strategies of neuromarketing to consider the ethical implications of applying powerful tools for data collection. The rationale behind neuromarketing is that human decision-making is not primarily a conscious process. Instead, there is increasing evidence that the willingness to buy products and services is an emotional process where the brain uses short cuts to accelerate the decision-making process. At the intersection of economics, neuroscience, consumer behavior, and cognitive psychology, neuromarketing focuses on which emotions are relevant in human decision-making, and uses this knowledge to make marketing more effective. The knowledge is applied in product design; enhancing promotions and advertising, pricing, professional services, and store design; and improving the consumer experience as a whole. The foundation for all of this activity is data gathering and analysis. Like many new processes and innovations, much of neuromarketing is operating far ahead of current governmental compliance and regulation and thus current practices are raising ethical issues. For example, facial recognition software, used to monitor and detect a wide range of micro-expressions, has been tested at several airports—under the guise of security and counterterrorism. To what extent is it acceptable to screen the entire population using these powerful and intrusive techniques without getting passengers’ consent? Citing numerous examples from the public and private sectors, the editors and contributing authors argue that while the United States has catalyzed technological advancements, European companies and governments are more progressive when it comes to defining ethical parameters and developing policies. This book details many of those efforts, and offers rational, constructive approaches to laying an ethical foundation for neuromarketing efforts.
Wee felt it before in sense; but now wee know it by science. Edward Misselden (1623) The collective effort reported in this volume is the outcome of the diffusion of the idea of diffusion as a fundamental process in society. The considerable number of disciplines represented here indicates the weight of the problem area. The editors are to be congratulated for their initiative in drawing together present thinking at a vivid meeting, now also in print. An old timer in the business has not much to add. But maybe some things, bearing in mind that a Preface is a celebration and not a review. As always with ideas it is hard to identify those who first gave shape to the idea of diffusion. In a general sense it is probably an observation as old as human self-reflection that groups of populations exchange ideas and copy habits and implements from each other. Sometimes it has even been recommended, as a Chinese proverb suggested millenia ago, "If you want to become a good farmer, look at your neighbor" .