Marketing

Marketing

Marketing

Marketing

Excerpt

Since publication of the preceding edition of this book, several major developments have come to be of outstanding interest to those professionally engaged in marketing education and management. Some of the most important may be summarized as follows: (1) critical appraisals within institutions of higher learning of the nature, objectives, and effectiveness of undergraduate and graduate education in marketing; (2) a growing awareness within the business community of the totality of the marketing process and of the necessity of adapting marketing activities within the firm to rapid changes within a highly dynamic business and economic environment; (3) the broadening interdisciplinary character of marketing thought and action; and (4) the increasing realization on the part of business leaders and educators that the raison d'être for all marketing effort is the satisfaction of needs and wants of customers.

With respect to the first of these developments, this new edition reflects throughout the conviction that students in the basic marketing course, whether undergraduate or graduate, should acquire a cultural knowledge of the subject. This has resulted in a strengthening rather than a minimizing of the social and economic aspects of marketing in all its significant implications. The managerial viewpoint is nevertheless accorded its due place, along with an appraisal from a broader perspective. The result, in the authors' judgment, is a balanced treatment— one which recognizes as prerequisite for marketing leadership true understanding that comes from acquisition of accumulated basic knowledge as well as from the development of skills that may be acquired in various decision-making approaches to the subject. These skills, it is believed, are more effective when based upon a well-rounded foundation of fundamental principles.

The other three developments mentioned above were clearly anticipated and amply reflected in preceding editions. Increased general awareness of them has, nevertheless, resulted in many modifications of management in the field of marketing, thus providing the opportunity in this revision to appraise events and trends and to incorporate many new features based upon enlightened approaches to marketing within progressive business firms.

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