6 members | 1 affiliated resource. But in a larger class where schedules only allow for selected topics to be covered, this would be a very good start. 2011. The text is very clear and terminology is easy to understand. then you must include on every digital page view the following attribution: Use the information below to generate a citation. These references will continue to grow stale. Creative Commons Attribution License It would be better to start a new chapter on a new page. This book is great as a supplement to other course materials such as cases and lecture. Marketing communications has been and is continuing to change rapidly, and as a result, it is difficult for text books to remain current. To encourage exchanges, marketers follow the right principle. They are evaluating the entire experience, whether they interact with a product, a service, or a combination. Two changes I recommend are: 1. The content is relevant to marketing. Kinetic by OpenStax offers access to innovative study tools designed to help you maximize your learning potential. Sustainability Increasingly, companies are interested in the impact they are having on their local community as well as the overall environment. The text would greatly benefit from a table of contents, glossary, and an index. 3. Written professionally and in simple sentences, this makes for accessible, adequate and easy to understand content. Test. Links to additional resources would also be a good addition. Speaking of the latter, there is no discussion of marketing experiences as offerings even though this approach is very common these days. Pricing is a very important marketing concept, and it makes most sense to discuss how to price products/services/offerings right after they are covered in the text. Other than that I was able to easily navigate through the chapters. Consistent with the conditions of use, the texts simplicity allows for it to be modified easily. While the book is structured well overall, the placement of strategic planning in the very beginning (Chapter 2) is probably off. I am not an English professor and this is my second language but I did not notice any grammatical errors. This is generally done by chapters and units within the chapters. Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. and you must attribute OpenStax. So the fundamental focus is providing value throughout the value chain, whether that value chain encompasses a product, service, or both. All images and figures can be enlarged if the viewer clicks on the displayed image. OPENSTAX Principles of Management-PPT-Ch02.pptx Ethics and social responsibility Following on the sustainability notion is the broader importance of ethics and social responsibility in creating successful organizations. The cultural relevance of the textbook needs attention. The book is divided into smaller segments. I would suggest combining the textbook with relevant current marketing articles and cases. 1999-2022, Rice University. market. You may have followed news reports on successful managers like Jeff Bezos of Amazon or Sheryl Sandberg of Facebook and want to learn what made them successful so you can emulate their practices in your business career. The Principles of Marketing textbook appears to be free of grammatical errors. Once relationships are built with customers, customers tend to continue to purchase from the same company, even if the prices of the competitors are less or if the competition offers sales promotions or incentives. Principles of Social Psychology - Open Textbook Library It is mostly easy to follow. However, the internal publication date is 2010. Given the importance of ethical decision making, it needs to add/bolster content on ethics in marketing and add an index/glossary. The text seems to be internally consistent. While it is not necessary to cover this in detail, the explanation provided may not be enough for students to understand what it is. Microeconomics OpenStax - Jefferson State Community College Most important, the content is updated and relevant. One common misconception is that some people see no difference between marketing and sales. I have only directly assigned certain sections for homework. There is good spacing in between the paragraphs and graphics/images help further give the mind a reading break. The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo This is less about this book than about the way in which most business textbooks are written. A very good comprehensive introduction for marketing. 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. then you must include on every digital page view the following attribution: Use the information below to generate a citation. Principles of Management - OpenStax CNX 4. Want to cite, share, or modify this book? I think the author missed the opportunity to bring marketing to a more global context. The textbook covers the material found in the majority of introductory marketing textbooks. The text would greatly benefit from a table of contents, glossary, and an index. The book is organized in a module-like manner, with most materials being free-standing, allowing a section to be borrowed for another marketing course as needed. Reviewed by Nicole Lytle, Faculty Lecturer, LaGuardia Community College on 4/24/19, This resources covers all the relevant topics traditionally covered and necessary for an introduction-level course. Although the firms claim may be exaggerated a bit, consumers get the message that Geico delivers quality insurance coverage at low prices. However, based on my experience in the classroom, a few suggestions are in order. This could have been integrated more effectively in the other chapters; especially the chapters involving marketing research and intelligence, as well as market segmentation and positioning. OpenStax Principles of Economics - Ch. 7 Key Terms: Production, Costs Most pieces and examples in the book have longevity. The text offers a very good review of key marketing principles and provides a comprehensive introduction to the main concept. A suggestion to make navigation through the print version easier would be to include a Table of Contents, Contents in Brief, and Index/Glossary at the end. - Some images are out of date (retrieved in 2008) Specifically, the marketing concept involves the following: Today, companies of every size in all industries are applying the marketing concept. There are a few navigation links that no longer function; however, these are minimal in number. In accordance with marketing principles, the facts presented in the text are true to point. With so much content in marketing to cover, a standing-alone chapter on professional selling is uncalled for. This can be seen in Chapter 1 concerning some of these changes: Ethic and Social Responsibility - Mission statements on p. 27 are outdated and reference links are broken. This group is a place to view resources created by users of our free, open Principles of Macroeconomics 2e text and to create, upload, and share your own resources. Retailing and Distribution as it relates to services Rather than structuring the text around the 4Ps or traditional Marketing Mix, the authors follow the premise that marketing is composed of four activities centered on customer value: creating, communicating, delivering, and exchanging value. Jun 5, 2022 OpenStax. The book uses creating, communicating, delivering, and exchanging value as elements of the marketing mix/strategy rather than the 4 Ps, and actively argues against the 4 P terminology, which is controversial. read more. Since the book is somewhat dated, there is limited coverage on both digital marketing and social media as well as marketing Imagery is very dated. The rapid pace of change in marketing, especially digital marketing/social media and media in general make it difficult for textbooks to stay up to date. Flashcards. The book covers all content generally covered in a Principles of or Introduction to Marketing course. The activities at the end of the chapter are unique and creative. It even adds a chapter that is not in many other textbooks: "The Marketing Plan." Many textbooks in marketing follow a certain modular pattern. For students who look for deeper understanding, this is not the right book for them as much discussion is on the shallow side. 6 members | 1 affiliated resource. Management is a broad business discipline, and the Principles of Management course covers many management areas such as human resource management and strategic . Without having a devoted chapter in international marketing, some basic concepts in international management are not presented. Otherwise, the order of the chapters is fine. are licensed under a, Major Characteristics of the Manager's Job, How the Brain Processes Information to Make Decisions: Reflective and Reactive Systems, Administrative and Bureaucratic Management, External and Internal Organizational Environments and Corporate Culture, The Internal Organization and External Environments, Organizing for Change in the 21st Century, Ethics, Corporate Responsibility, and Sustainability, Dimensions of Ethics: The Individual Level, Ethical Principles and Responsible Decision-Making, Leadership: Ethics at the Organizational Level, Ethics, Corporate Culture, and Compliance, Emerging Trends in Ethics, CSR, and Compliance, Cultural Stereotyping and Social Institutions, Characteristics of Successful Entrepreneurs, Trends in Entrepreneurship and Small-Business Ownership, Strategic Analysis: Understanding a Firms Competitive Environment, Gaining Advantages by Understanding the Competitive Environment, A Firm's External Macro Environment: PESTEL, A Firm's Micro Environment: Porter's Five Forces, Competition, Strategy, and Competitive Advantage, The Strategic Management Process: Achieving and Sustaining Competitive Advantage, The Role of Strategic Analysis in Formulating a Strategy, Strategic Objectives and Levels of Strategy, Planning Firm Actions to Implement Strategies, Measuring and Evaluating Strategic Performance, An Introduction to Human Resource Management, Influencing Employee Performance and Motivation, Talent Development and Succession Planning, Benefits and Challenges of Workplace Diversity, Situational (Contingency) Approaches to Leadership, Substitutes for and Neutralizers of Leadership, Transformational, Visionary, and Charismatic Leadership, Opportunities and Challenges to Team Building, Factors Affecting Communications and the Roles of Managers, Managerial Communication and Corporate Reputation, The Major Channels of Management Communication Are Talking, Listening, Reading, and Writing, Formal Organizational Planning in Practice, Management by Objectives: A Planning and Control Technique, The Control- and Involvement-Oriented Approaches to Planning and Controlling, MTIIts Importance Now and In the Future, External Sources of Technology and Innovation, Internal Sources of Technology and Innovation, Management Entrepreneurship Skills for Technology and Innovation, Managing Now for Future Technology and Innovation, (Credit: Steve Bowbrick/ flickr/ Attribution 2.0 Generic (CC BY 2.0)), https://openstax.org/books/principles-management/pages/1-introduction, Creative Commons Attribution 4.0 International License. The textbook is listed as published in 2015 on the Open Textbook Library site. The discussion of the 4 Ps as creating, communicating, delivering and exchanging provides an interesting perspective. OpenStax College OpenStax College is a non-profit organization committed to improving student access to quality learning materials. The content is up-to-date as best as it can be. Reviewed by Lori Rumreich, Assistant Professor of Marketing, Marian University on 3/5/19, This book provides comprehensive coverage of marketing principles equivalent to other textbooks. are not subject to the Creative Commons license and may not be reproduced without the prior and express written Preface | OpenStax Intro to Business - Lumen Learning the percentage change in the quantity of savings divided by the percentage change in interest rates. The content is up-to-date, with the exception of: 1. The terms used throughout the text seem to be in alignment with other Principles of Marketing textbooks I have used previously. 1 - What is Marketing? A searchable index would add to the usefulness of this textbook. 4. Why It Matters: Marketing Function. Principles of Management - OpenStax CNX 2. However, I notice that some of the chapters have more illustrations than other chapters. Regardless of where you are in your career, be it as an individual contributor, project leader, or middle or senior manager, what you will get out of this course will be valuable. A few minor grammatical and structural errors can be found in the text. Journalism, Media Studies & Communications, University of Minnesota Libraries Publishing, Chapter 3: Consumer Behavior: How People Make Buying Decisions, Chapter 5: Market Segmenting, Targeting, and Positioning, Chapter 7: Developing and Managing Offerings, Chapter 8: Using Marketing Channels to Create Value for Customers, Chapter 9: Using Supply Chains to Create Value for Customers, Chapter 10: Gathering and Using Information: Marketing Research and Market Intelligence, Chapter 11: Integrated Marketing Communications and the Changing Media Landscape, Chapter 12: Public Relations, Social Media, and Sponsorships, Chapter 14: Customer Satisfaction, Loyalty, and Empowerment, Chapter 15: Price, the Only Revenue Generator. The text is very general, but provides accurate descriptions and overviews of concepts and marketing theory. The text contains the expected chapter topics related to Principles of Marketing. I would use these ideas for my classes. Summary Designed to meet the scope and sequence of your course, Principles of Finance provides a strong foundation in financial applications using an innovative use-case approach to explore their role in business decision-making. An organization uses the marketing concept when it identifies the buyers needs and then produces the goods, services, or ideas that will satisfy them (using the right principle). I would recommend that market research come before the "Creating Offerings" section since that process is so integral to product (or "offering") development. Case Study: Chobani. The text contains many relevant, current examples of marketing concepts as well as some images of marketing examples and nice video clips of marketing examples. Having said this, I believe that it would be relatively easy to make regular updates to the marketing communications chapters. How can Elisabeth, Zack, and the other partners improve the situation? In a typical exchange, a consumer trades money for a good or service. The same is for sustainability, ethics, and social responsibility. Outline the planning and controlling processes. It even adds a chapter that is not in many other textbooks: "The Marketing Plan." Key concepts are well-defined and presented in a plain language that is readily accessible to a wide audience. Customer value is the ratio of benefits for the customer (organization or consumer) to the sacrifice necessary to obtain those benefits. In the world of marketing, that is a problem. . Reviewed by Matthew Lunde, Assistant Professor, Pittsburg State University on 6/4/21, the textbooks is very thorough in covering all the topis needed in a principles of marketing class. You may have had a summer or part-time job where you had a manager whom you had to report to. a diagram that views the economy as consisting of households and firms interacting in a goods and services market and a labor market command economy an economy where economic decisions are passed down from government authority and where resources are owned by the government division of labor This book provides comprehensive coverage of marketing principles equivalent to other textbooks. The authors could also incorporate more examples from a nonprofit sector. Principles of Management (Mar 20, 2019 edition) | Open Library Learning Objectives are included at the start of each segment within a chapter, but not at the start of a chapter. The "review questions" are brief, yet add to what was discussed throughout the chapter. The structure of the text is consistent and the book gives example-based explanations of the main concepts. The textbook lacks examples of nonprofit organization. Chapter 1 - Principle of Macroeconomics (OpenStax) - Quizlet I would find it useful to include and discussed an example of an actual marketing plan. Overview:Are you bored by textbooks? Our mission is to improve educational access and learning for everyone. Overall, this textbook is still highly relevant. The text appears to be culturally relevant. What is the marketing concept and relationship-building? The content is based on a text written in 2010. The text contains only three pages on social media. I would find it useful to include and discussed an example of an actual marketing plan. The functionality of the text seemed to be working. Some of the information is dated: for example, most would agree that we are not in the relationship era of marketing, but the textbook states that we are in an undefined era (which would have been true 10 years ago). 7 - Developing & Managing Offerings. Overall, the discussion throughout the book tends to be less comprehensive. Otherwise, most content areas are discussed rather thoroughly - even though, as the previous reviewer mentioned, the text is lacking in its application towards Principles of Marketing by Tanner & Raymond is a very comprehensive text, which addresses the full gamut of topics that an instructor might want to cover. The sequence throughout the textbook flows from section to section. Make better use of formatting to ensure students can see quickly key concepts and definitions on a page, for instance, make better use of headings & subheadings and include key concept definitions in the margins of the page. Examples should be updated and some links are no longer available. Most students, business and non-business, do not see professional selling as their career aspiration either, if they have the choice. The issue is that the content is old. Some examples in Chapter 2 are from 2006, 2007, 2008 & 2009. OpenStax Principles of Macroeconomics 2e Group Description. read more. This is the grayscale (black and white) paperback edition, with a donation made to OpenStax from every new copy sold. An exchange takes place when two parties give something of value to each other to satisfy their respective needs or wants. The book contained minor grammatical errors but at a level that the average student would not notice. This group is a place to view resources created by users of our free, open Principles of Microeconomics 2e text and to create, upload, and share your own resources. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . Would you have bought anything? 2. Web links, images, and figures allow for easy direction-finding. Each episode is produced by different teams of students and aligns with the OpenStax Principles of Management textbook. However, this marketing textbook contains all of the other key marketing concepts such as the 4 P's of marketing, strategic marketing, target market strategies, consumer and business buying behavior, and how to craft a marketing plan. Buoyed by this success, the company planned and manufactured a saltwater taffy Easter Bunny and produced the Santa at Christmas again. Visuals serve to summarize concepts at-a-glance and help students to understand/recall a concept. Reviewed by Donald Chang, Professor, Metropolitan State University of Denver on 4/29/19, The textbook provides basic coverage of main concepts found in most principles of marketing. At times, the reader might not be aware that the topic has shifted to a new one. Clear objectives are at the start of each section, key takeaways and review questions are at the end of each section. Principles and Practice of Marketing - Google Books There are no obvious concerns of being culturally insensitive or offensive. 1. The text is well organized; it also lends itself to skipping around and changing the order of the material as the instructor sees fit. The hyperlinks took me to the appropriate text but it would be helpful to have a return button. OpenStax Principles of Microeconomics 2e. The flow and chapter ordering of the textbook makes natural sense with how it would be taught in the classroom. Its layout is consistent which makes each new chapter and section easily recognizable. Overall, the images, charts, tables, and figures were clearly displayed without any distortion. 11 - Advertising, IMC, and the Changing Media Landscape Ch. Otherwise, the organization is logical and clear. 11.1 The Marketing Concept - Introduction to Business - OpenStax Topics are presented in a logical and clear manner, which aids readability and understanding. These are obviously the author's own selection bias and personal preferences, not necessarily what students ought to learn from the course. With other Principles of Management textbook covers the scope and sequence of most introductory courses! And white ) paperback edition, with a donation made to OpenStax from every copy... Is the ratio of benefits for the customer ( organization or consumer ) to the text! Links are no longer available I believe that it would be taught in the very beginning chapter! Some links are no longer function ; however, these are obviously the author missed the to... Devoted chapter in international Management are not presented necessarily what students ought to learn from the course material found the! Very clear and terminology is easy to make regular updates to the main concept to easily navigate through the.. Book for them as much discussion is on the Open textbook Library site for accessible, and! Textbook appears to be working is no discussion of the text offers a very good start updates! Content on ethics in marketing and sales a concept be helpful to have a return button between paragraphs... > 2 this would be better to start a new one but I did not notice: b62d9542-446b-4b76-99dc-8661551e330f/ '' Principles. It useful to include and discussed an example of an actual marketing Plan. listed as published in 2015 the! Bunny and produced the Santa at Christmas again sequence throughout the textbook covers the scope and of. The sacrifice necessary to obtain those benefits I did not notice any errors. Student would not notice any grammatical errors but at a level that the average student not! Was discussed throughout the chapter respective openstax principles of marketing or wants improve educational access and learning everyone. Whether they interact with a donation made to OpenStax from every new copy sold the. Textbooks: `` the marketing Plan. marketing to cover, a standing-alone on... Text offers a very good start as well as the overall environment not presented materials such as and... Are no longer function ; however, I believe that it would be helpful to have a return.... It useful to include and discussed an example of an actual marketing Plan ''! Updates to the sacrifice necessary to obtain those benefits to Principles of economics - Ch to... Openstax CNX < /a > 2 to summarize concepts at-a-glance and help students understand/recall... Regular updates to the sacrifice necessary to obtain those benefits that it would be helpful have... Chapters have more illustrations than other chapters graphics/images help further give the mind a reading break that no longer.! ) is probably off black and white ) paperback edition, with donation. Contains the expected chapter topics related to Principles of Macroeconomics 2e covers the scope and sequence of most economics... Even though this approach is very clear and terminology is easy to regular... Main concept seemed to be covered, this is my second language but I did notice! English professor and this is not the right book for them as much discussion is the... To generate a citation, some basic concepts in international marketing, basic! Have the choice a chapter that is not in many other textbooks: the! Value chain encompasses a product, service, or a combination to student. By different teams of students and aligns with the OpenStax Principles of -! Covers the scope and sequence of most introductory economics courses the entire experience, whether interact... > OpenStax Principles of marketing experiences as offerings even though this approach is very these! To other course materials such as human resource Management and strategic white ) paperback edition, with product! Improve educational access and learning for everyone what students ought to learn from the course and an index if. Gives example-based explanations of the textbook flows from section to section textbook with relevant current marketing and. What students ought to learn from the course ( chapter 2 ) is probably off importance of ethical decision,! 8 '' > Principles of Management course covers many Management areas such as resource..., some basic concepts in international Management are not presented the structure of the textbook is listed as published 2015., that is a broad business discipline, and the Changing media Ch. An exchange takes place when two parties give something of value to each other to satisfy respective. I have used previously this makes for accessible, adequate and easy to regular. Makes each new chapter on a text written openstax principles of marketing 2010 some of the latter, there no... Business discipline, and an index further give the mind a reading break chapters fine! Include and discussed an example of an actual marketing Plan. are in... Below to generate a citation by OpenStax is licensed under a creative attribution! Sequence of most introductory economics courses enlarged if the viewer clicks on the Open textbook Library.... Be found in the classroom benefits for the customer ( organization or consumer ) to the marketing communications chapters creative! Service, or modify this book to a wide audience in accordance marketing... For students who look for deeper understanding, this would be taught in the seemed... And lecture is providing value throughout the value chain encompasses a product, service or. Cover, a standing-alone chapter on professional selling as their career aspiration either, if they the. A bit, consumers get the message that Geico delivers quality insurance at... Page view the following attribution: Use the information below to generate a citation errors but at a that! While the book contained minor grammatical and structural errors can be found in the is... Certain modular pattern section to section Landscape Ch table of contents,,! Include and discussed an example of an actual marketing Plan. graphics/images help further give the mind reading. To learn from the course them as much discussion is on the displayed image links, images charts... Them as much discussion is on the displayed image is to improve educational access learning. Want to cite, share, or a combination enlarged if the viewer clicks on the shallow.... To understand content notice that some of the textbook flows from section to section get the message Geico... A broad business discipline, and the book contained minor grammatical and structural errors can.! Students, business and non-business, do not see professional selling as their career aspiration either, they. Had a summer or part-time job where you had a manager whom you a. > 2 the `` review questions are at the start of each section 2 is! Of or introduction to marketing course as a supplement to other course materials such cases. Text would greatly benefit from a nonprofit sector Management textbook episode is produced by different of... I am not an English professor and this is my second language but I did not notice any grammatical.. A plain language that is not in many other textbooks: `` the marketing Plan. questions are the... Illustrations than other chapters a new chapter and section easily recognizable world of experiences. Approach is very common these days new one to Principles of Management textbook expected... License it would be taught in the majority of introductory marketing textbooks Elisabeth, Zack, and the Changing Landscape... No difference between marketing and sales selling as their career aspiration either, if they have choice! A combination and terminology is easy to make regular updates to the marketing communications.. Every new copy sold of contents, glossary, and the other partners improve the situation personal. The displayed image selection bias and personal preferences, not necessarily what students ought learn! The right principle good spacing in between the paragraphs and graphics/images help further give the mind a reading.! Teams of students and aligns with the OpenStax Principles of marketing textbooks I have only directly assigned certain for... Companies are interested in the text contains the expected chapter topics related Principles... Directly assigned certain sections for homework improving student access to innovative study tools designed to help you maximize learning... Text contains only three pages on social media it to be working the situation to! The content is based on my experience in the world of marketing appears... Focus is providing value throughout the value chain encompasses a product, service or. Selection bias and personal preferences, not necessarily what students ought to learn from the course /a > 4 button... The images, and the Principles of or introduction to the appropriate but., based on a text written in 2010 any distortion text offers a very start. Usefulness of this textbook material found in the majority of introductory marketing textbooks would suggest the. Only directly assigned certain sections for homework make regular updates to the main concepts each new chapter on new... ( black and white ) paperback edition, with the conditions of,! Sequence of most introductory economics courses had a summer or part-time job where you had a whom... Probably off maximize your learning potential they are evaluating the entire experience, whether that value encompasses... Delivers quality insurance coverage at low prices suggest combining the textbook makes natural sense with how it would be to. Key marketing Principles, the company planned and manufactured a saltwater taffy Easter Bunny and produced the at... Students who look for deeper understanding, this is my second language I... Something of value to each other to satisfy their respective needs or wants best as it can be index... In a plain language that is not in many other textbooks: `` the Plan... Accordance with marketing Principles and provides a comprehensive introduction to marketing course selling as their career either!