OpenStax is part of Rice University, which is a 501(c)(3) nonprofit. I did not come across any areas that were not accurate. Geicothe major auto insurer with the scaly mascotfamously boasts a 97 percent customer-satisfaction rating. The authors have effectively integrated up-to-date examples that students will find interesting as well as integrated media (e.g., audio clips) and real life profiles (profiling an analytics manager at BNSF) to produce an engaging text. The order of the chapters in the text is as follows: Ch. The "review questions" are brief, yet add to what was discussed throughout the chapter. They are two different things that are both part of a companys strategy. There are a variety of diverse examples throughout the text. In 2018, it is unlikely that I would use this resource. then you must include on every digital page view the following attribution: Use the information below to generate a citation. Also, it is important to include examples that are more current to provide better student discussions of this important marketing topic. I like the synergy from chapter to chapter. The textbook is written in a clear manner. Including profiles of marketing professionals from a variety of races, ethnicities, and backgrounds would be one way of addressing this weaknesses. Principles begins with a question to spark curiosity for the novice student of marketing. Web links, images, and figures allow for easy direction-finding. Again, a good primer, or refresh for an upper-level marketing course. read more. Chapter 3 should be divided into more sections. If you're believing this, you could not be more mistaken. Except where otherwise noted, textbooks on this site The book used "offerings" when referring to products and services consistently throughout the book. The examples and references are all at least 10 years old. Explain the difference between customer value and customer satisfaction. Images/charts are small and difficult to read in the print version. Learn. Having said this, I believe that it would be relatively easy to make regular updates to the marketing communications chapters. Kinetic by OpenStax offers access to innovative study tools designed to help you maximize your learning potential. The authors make consistent references to ethical situations throughout chapter coverage, and end of chapter material in most chapters will encompass ethical situations. Marketing Mix. Lastly, I would add more current marketing articles, one-page cases and small group discussion questions to each chapter. The text is easy to navigate. 14 - Customer Satisfaction, Loyalty, and Empowerment Ch. The course material is listed in modular fashion to easily transfer to canvas. However, it might be useful to update some of these items. Understand how planning occurs in today's organizations. Chapters can be easily divided where needed. As of October 11, 2017, resources shared here pertain to OpenStax Princples of Macroeconomics 2e and not the original edition of OpenStax Princples of Macroeconomics. I would suggest combining the textbook with relevant current marketing articles and cases. As indicated in the comprehensiveness section of my comments, I also believe that a few topical chapters such as International Marketing should be added to the book to improve its overview of the topic. The main topics include the definition of marketing, strategic planning, consumer behavior, the 4 Ps, offerings, marketing channels, selling, Similarly, the Environmental Scan and ethical/legal segments are all based on American trends and laws/business practices. 7 - Developing & Managing Offerings. The essence of planning is to see opportunities and threats in the future and, respectively, exploit or combat them as the case may be. Products can be goods, services, or ideas. The concepts covered in Principles of Marketing - 2015 are appropriate for an introductory level course. Consistency is strong and consistent across chapters. In addition to the summaries at the end of each section within a chapter, include a final end of chapter summary. The text contains only three pages on social media. I could not get any of the videos to open. Segmentation and Targeting Introduction. Nowadays, for inclusivity, the right pronoun to use would be "they. 11 - Advertising, IMC, and the Changing Media Landscape Ch. Navigation is easy for Principles of Marketing by Tanner & Raymond; however, some issues with fonts and size of text within images rendered some distractions. inelastic demand. A few minor grammatical and structural errors can be found in the text. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . OpenStax Principles of Finance. Access podcast at https://anchor.fm/deconstructingmanagement and on podcast listening apps. The book follows the usual formatting and organization of most of these textbooks. There are a solid number of examples throughout the book. An exchange takes place when two parties give something of value to each other to satisfy their respective needs or wants. Principles of Marketing by Tanner & Raymond is not offensive in any way and does offer quite a few diverse examples. The content is based on a text written in 2010. Customers (both organizations and consumers) tend to buy products from suppliers whom they trust and feel a kinship with, regardless of offerings of unknown competitors. It is important not to base value on price (instead of service or quality) because customers who only value price will buy from the competition as soon as a competitor can offer a lower price. If you are redistributing all or part of this book in a print format, read more. After all, personal selling is only one of the element of promotion and most companies prefer to train their own sales force, thus very company/product specific, not something could be covered effectively in a principles of marketing textbook. If youre believing this, you could not be more mistaken. 2. The links to videos were accessible; however, some were no longer available. Customer satisfaction is the customers feeling that a product has met or exceeded expectations. PDF file, for viewing content offline and printing. While it is perfectly fine to present historical examples, the "new" examples need to be updated. read more. The layout and formatting of the material is clear and concise. The book also uses "offerings" instead of "product". This American Principles of Marketing text covers all the key areas & ideas normally included in a first year College/University Introduction to Marketing course. The first things they decide to do are install better control systems over their inventory process and collect data on customer online experiences with ChezPastis.com. and you must attribute OpenStax. 1 - What is Marketing? It also incorrectly over-inflates the role of sales in marketing curriculum. The headings are easily overlooked as presented. Best of luck! This book provides comprehensive coverage of marketing principles equivalent to other textbooks. The text is structured around the framework that is outlined by the authors in chapter 1. Students need to know about the subject more before jumping into strategic planning. The voice of the text is conversational yet professional. The flow of the chapters is a positive element of the textbook. For marketing majors, I would add an appendix at the back of the book discussing the various career opportunities in marketing. More examples from medium/small businesses, as well as not-for-profits, would help to provide a broader perspective for students. All content appears clear and free from distortion. Move ch. This textbook was written to increase student access to high-quality learning materials, maintaining highest standards of academic rigor at little to no cost. Key concepts are well defined, but the structure and formatting of the text are somewhat confusing. The discussion of the 4 Ps as creating, communicating, delivering and exchanging provides an interesting perspective. Metrics It even adds a chapter that is not in many other textbooks: "The Marketing Plan." Elisabeth proposes setting a goal of never having to tell a customer that requested items are on back order. are licensed under a, Understanding Economic Systems and Business, Microeconomics: Zeroing in on Businesses and Consumers, Trends in the Business Environment and Competition, Preparing for Tomorrow's Workplace Skills, Making Ethical Decisions and Managing a Socially Responsible Business, How Organizations Influence Ethical Conduct, Trends in Ethics and Corporate Social Responsibility, Threats and Opportunities in the Global Marketplace, Specialized Forms of Business Organization, Entrepreneurship: Starting and Managing Your Own Business, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Management and Leadership in Today's Organizations, Using Teams to Enhance Motivation and Performance, AuthorityEstablishing Organizational Relationships, Managing Human Resources and Labor Relations, Achieving High Performance through Human Resources Management, Legal Environment of Human Resources and Labor Relations, Trends in Human Resource Management and Labor Relations, Achieving World-Class Operations Management, Production and Operations ManagementAn Overview. This is the grayscale (black and white) paperback edition, with a donation made to OpenStax from every new copy sold. In addition to the textbook content for teaching marketing principals, there are many real-world examples offered to improve student understanding. Topics presented are in a logical manner - learning objectives, terms, examples/diagrams, key takeaways, and review questions. Also would serve as a great refresher text for upper-level marketing courses. The clarity of the book is great. With so much content in marketing to cover, a standing-alone chapter on professional selling is uncalled for. However, I do find it lacks the basics of e-commerce (just basic industry terms like SEO), global marketing principles (especially B2C), and using tools like PEST analysis for The topics covered are appropriate and the scope meets the basic needs of a principles of marketing course. - Mission statements on p. 27 are outdated and reference links are broken. The text would greatly benefit from a table of contents, glossary, and an index. A very good comprehensive introduction for marketing. This textbook on marketing includes information on branding, ethics and corporate social responsibility, relationship marketing, internet marketing, mobile, wireless and e-mail marketing,. My only recommendation is to add more illustrations consistently throughout the textbook. Reviewed by David C Taylor, Assistant Pofessor, University of Houston on 3/27/18, A very good comprehensive introduction for marketing. Most successful organizations have adopted the marketing concept. It is good to see that the textbook is up-to-date and recognizes that marketing must adapt to these changes. And finally, "what is this customer or set of customers worth to us over their lifetime?". read more. I have been facilitating marketing, analytics, sales, and consumer behavior classes since 2009 and this textbook does a good job of covering all of the marketing mix. . OpenStax offers free college textbooks for all types of students, making education accessible & affordable for everyone. The marketing concept is the use of marketing data to focus on the needs and wants of customers in order to develop marketing strategies that not only satisfy the needs of the customers but also the accomplish the goals of the organization. The books examples are all about 10 years old. The text contains the expected chapter topics related to Principles of Marketing. Although most offer longevity, there is a need to augment current examples with more recent examples including company or product examples representing cultural diversity. consent of Rice University. The material was presented in an unbiased way and was primarily free of any grammatical errors. Principles of Economics 2e covers the scope and sequence of most introductory economics courses. I would suggest combining the textbook with relevant current marketing articles and cases. Other than that I was able to easily navigate through the chapters. These activities, as Hannaway found in her study of managers at work, do not, in fact, describe what managers do.1 At best they seem to describe vague objectives that managers are continually trying to accomplish. This book covers the main concepts of marketing very effectively. https://openstax.org/books/introduction-business/pages/1-introduction, https://openstax.org/books/introduction-business/pages/11-1-the-marketing-concept, Creative Commons Attribution 4.0 International License. Overview:Are you bored by textbooks? Each of these chapters is out of order. Thus, the program helps to create a long-term relationship with (and ongoing benefits for) the customer. The text covers most of the key areas of marketing such as consumer behavior, market segmentation and target marketing and the principals relating to product, pricing, placement and promotion. Overall, the images, charts, tables, and figures were clearly displayed without any distortion. In a typical exchange, a consumer trades money for a good or service. This fits nicely with Blooms learning taxonomy. I found the text to be accurate, and in line with current marketing practices and pedagogical materials. The way the chapters are organized is consistent throughout the text. Although the firms claim may be exaggerated a bit, consumers get the message that Geico delivers quality insurance coverage at low prices. In several instances, whole pages were simply lists of sources. This text includes all of the major learning objectives covered in an introduction to marketing class. The choice effort to be modified easily these two topic areas are discussed relatively thoroughly, a. Sections could benefit from headings and sub-headings could be better to start a new chapter and section easily.! 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