The business classic, fully revised and updated for today's marketers The second edition of Kellogg on Marketing provides a unique and highly regarded perspective on both the basics of marketing and on new issues that are challenging businesses today. Along with the new material, the core concepts covered in the first edition have all been updated-including targeting and positioning, segmentation, consumer insights, and more. This is a must-have marketing reference.
Alice M. Tybout is the Harold T. Martin Professor of Marketing. She served as chairperson of the Marketing Department 2004-2006.
Professor Tybout conducts research related to how individuals process, organize, and utilize information to make judgments and choices. Her most recent writings address these issues in the context of scandal management. She has published numerous articles in scholarly journals, including the Journal of Consumer Research, the Journal of Marketing Research, the Journal of Consumer Psychology, the Journal of Marketing, and the Journal of Personality and Social Psychology. In addition, she has published articles in Harvard Business Review, and is the co-editor of four books; Perspectives on the Affective and Cognitive Effects of Advertising, Kellogg on Branding, Kellogg on Marketing, Second Edition, Kellogg on Branding in a Hyper-connected World.
Normally I'm quite skeptical about picking up books on management or marketing because many of them seem to either have very repetitive or common sense stuff (sometimes both). But I really enjoyed reading this one! There are a few things that I could skim through, but this book deserves five stars because it is incredibly comprehensive. If you're someone who keeps on hearing the buzz word 'marketing' but have no clue what it's about, then this is definitely for you.
But if, like me, you have some experience in marketing then there's still plenty to gain. Key takeaways:
1. Sandwich strategy i.e. instead of price cutting your competitor, it's better to bifurcate your product range into a more basic (hence lower priced) and a more premium variant. The Fedex case study is particularly noteworthy here.
2. There are plenty of advantages to marketing to the bottom of the pyramid, as it could be the case that it is not the low ability to pay but low willingness due to traditional values.
3. Innovation in today's business sense means not necessarily inventing, but mapping the invention to the right use. Invention, so far, has been the mother of necessity. Hobbyists and tinkerers build things only to realise later on that the actual use is further from the intended use (for eg. Youtube started as a video dating service).
However, it is clear that the book needs to be updated because the chapter on social media mentions MySpace at par with Facebook, and there is no mention of Instagram or Snapchat.
My only qualm with the kindle version is the difficulty in zooming into the diagrams. But the struggle pays off if you power through because the case studies are really interesting.
If one is interested in business, then s/he should know about the importance of marketing as it can make all the difference in your business. Every chapter in this book is highly important, maybe one might take some time to understand and appreciate it, but I am sure they will one day. It's a must-have book for both marketing as well as non-marketing people.
Excellent collection of thought pieces written by various faculty members. Nice balance between theory and practice. Many concrete examples using real world case studies.
This book provides clear insight on several marketing issues, ranging from practical 4Ps to contemporary marketing topics. Kellogg on Marketing should be another book to be put on the shelf of every serious professional marketer. I believe readers, either marketing novice or expert, will gain considerable amount of valuable knowledge on the subject; namely, sandwich-pricing strategy, psychology of product assortment, brand positioning development, and interlink between marketing and operation. Personally, I've already made this book my favorite.