William Perreault - ISE Essentials of Marketing

MARKETING

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Authors of Essentials of Marketing, 17/e

William D. Perreault Jr.

William D. Perreault Jr. is Kenan Professor of Business Emeritus at the University of North Carolina. Dr. Perreault is the recipient of the two most prestigious awards in his field: the American Marketing Association Distinguished Educator Award and the Academy of Marketing Science Outstanding Educator Award. He was also selected for the Churchill Award, which honors career impact on marketing research. He was editor of the Journal of Marketing Research and has been on the review board of the Journal of Marketing and other journals.

The Decision Sciences Institute has recognized Dr. Perreault for innovations in marketing education, and at UNC he has received several awards for teaching excellence. His books include two other widely used texts: Basic Marketing and The Marketing Game!

Dr. Perreault is a past president of the American Marketing Association Academic Council, served as chair of an advisory committee to the U.S. Census Bureau, and served as a trustee of the Marketing Science Institute. He has also worked as a consultant to organizations that range from GE and IBM to the Federal Trade Commission.

Joseph P. Cannon

Joseph P. Cannon is a Deans Distinguished Teaching Fellow and professor of marketing at Colorado State University. He has also taught at the University of North Carolina, Emory University, Instituto de Empresa (Madrid, Spain), INSEAD (Fontainebleau, France), and Thammasat University (Bangkok, Thailand). He has received several teaching awards and the N. Preston Davis Award for Instructional Innovation.

Dr. Cannons research has been published in the Journal of Marketing, Journal of Marketing Research, Journal of the Academy of Marketing Science, Journal of Operations Management,Journal of Personal Selling and Sales Management, Journal of Public Policy and Marketing,AntitrustBulletin, and the Academy of Management Review, among others. He is a two-time recipient of the Louis W. and Rhona L. Stern Award for high-impact research on interorganizational issues. He has also written numerous teaching cases. Dr. Cannon has served on the editorial review boards of the Journal of Marketing, Journal of the Academy of Marketing Science, Journal of Operations Management, Journal of Personal Selling and Sales Management, and Journal of MarketingEducation. The Journal of Marketing has honored Dr. Cannon with several distinguished reviewer awards. He served as chair of the American Marketing Associations Interorganizational Special Interest Group (IOSIG). Before entering academics, Dr. Cannon worked in sales and marketing for Eastman Kodak Company.

E. Jerome McCarthy

Marketing lost one of its pioneers when E. Jerome Jerry McCarthy passed away at his home in East Lansing, Michigan, in 2015.

After earning a PhD at the University of Minnesota, Dr. McCarthy joined the faculty at Notre Dame and became a Fellow in the prestigious Ford Foundation Program at Harvard, an experience that focused on how to make marketing management practice more rigorous and shaped his thoughts on the needs of students and educators. Dr. McCarthy spent most of his career at Michigan State University, gaining a reputation for working with passion and purpose. He received the AMAs Trailblazer Award in 1987 and was voted one of the top five leaders in marketing thought by marketing educators.

Dr. McCarthy was well known for his innovative teaching materials and texts, including Basic Marketing and Essentials of Marketing. These books changed the way marketing was taught by taking a managerial point of view. He also introduced a marketing strategy planning framework, organizing marketing decisions around the Four PsProduct, Place, Promotion and Price. As these approaches became the standard in other texts, Dr. McCarthy continued to innovate, including new materials in the digital realm. Todays marketing instructors owe a great debt to this innovative pioneer.

Preface

Essentials of Marketing Is Designed to Satisfy Your Needs

This book is about marketing and marketing strategy planning. At its essence, marketing strategy planning is about figuring out how to do a superior job of satisfying customers. We take that point of view seriously and believe in practicing what we preach. So you can trust that this new edition of Essentials of Marketingand all of the other teaching and learning materials that accompany itwill satisfy your needs. Were very excited about this 17th edition of Essentials of Marketing and we hope that you will be as well.

In developing this edition, weve made hundreds of big and small additions, changes, and improvements to the text and all the supporting materials that accompany it. Well highlight some of those changes in this preface, but first well provide background on the evolution of Essentials of Marketing.

Building on Pioneering Strengths

Basic Marketing (Essentials of Marketings parent text) pioneered an innovative structurethe Four Ps (Product, Place, Promotion, and Price) with a managerial approachfor the introductory marketing course. It quickly became one of the most widely used business textbooks ever published because it organized the best ideas about marketing so that readers could both understand and apply them. The unifying focus of these ideas is: How does a marketing manager decide which customers to target and the best way to meet their needs?

With each new edition of Essentials of Marketing, we update the content based on changes in marketing management and the market environment. This book reflects marketings best practices and ideas.