Visualizing Marketing: From Abstract to Intuitive

129 Pages·2017·6.3 MB·English

by  S. Umit Kucuk (auth.)

Visualizing Marketing
S.UmitKucuk
Visualizing
Marketing
From Abstract to Intuitive
S.UmitKucuk
Edmonds,Washington,USA
ISBN978-3-319-48026-8 ISBN978-3-319-48027-5(eBook)
DOI10.1007/978-3-319-48027-5
LibraryofCongressControlNumber:2016956869
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To Aytenand Halim
C
ONTENTS
1 Introduction 1
2 MarketingandMarketing Mix 3
3 Product 9
4 Price 29
5 Place 45
6 Promotion 59
7 Marketing-MixModeling 83
8 TheTransformation 95
Index 123
vii
A A
BOUT THE UTHOR
S. Umit Kucuk has taught various marketing, consumer behavior and
statistics courses at the Univeristy of Washington, Seattle University,
Central Washington University and Eastern Washington University,
USA. His works appear in Antitrust Bulletin, International Journal of
Retail & Distribution Management, International Review of Retail,
Distribution & Consumer Research, Journal of Brand Management,
Journal of Business Ethics, Journal of Business Research, Journal of
Consumer Affairs, Journal of Direct Data and Digital Marketing
Practice, Journal of Euro-Marketing, Journal of International Consumer
Marketing, Journal of Research in Interactive Marketing, Journal of
Retailing and Consumer Services, Journal of Research for Consumers,
Marketing Theory and Technovation. He is a winner of the 2010 Citation
of Excellence award from Emerald Management Reviews. Some of his
articles are also ranked in some of these journals’ most popular and most
downloadedarticles lists.
ix
CHAPTER1
Introduction
Abstract The introduction considers the importance of discussing mar-
keting as a whole and its mix of elements in a more visual way and
introduces the idea of “visualizing” marketing data and marketing con-
cepts. This can help eliminate some of the obstacles encountered by
teachers of marketing owing to the abstract nature of marketing and
consumerbehavior theories.
Keywords Marketing (cid:1) Big data (cid:1) Visualization of data (cid:1) Marketing
education
Formanyteachersofmarketing,helpingstudentstograsphighlyabstract
marketing concepts can present something of a challenge. Many use
simulation programs and/or marketing metrics in their courses to give
studentsmorehands-on,practicalexperience.TheadventoftheInternet,
however,hasmadeiteasytoaccessandcollectdataaboutconsumersand
market players. This data-rich environment includes tools to develop
graphs and figures which can provide more concrete generalizations and
understanding of abstract marketing concepts. Although accessing and
collecting“bigdata”isgettingeasier,manyscholarsandmarketingpracti-
tionersfinditdifficulttoknowhowtoapproachtheenormousamountof
datacollectedindigitalspacesandmakemarketingsenseofit.Visualizing
and summarizing marketing data in a simple graphical format ultimately
enablesmarketingscholarstomakesenseofit.Visualizingmarketingdata
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2 VISUALIZINGMARKETING
andmarketingconceptscanalsoeliminatemanyobstaclesencounteredby
teachers of marketing owing to the abstract nature of marketing and
consumerbehaviortheories.Ihavethereforemadeacollectionofmarket-
ing graphics, figures and visual artifacts and analyzed ways in which they
open the door to a more concrete marketing world in today’s data-rich
environments.
Ihavealwaysfoundmyselfdrawinggraphicsorfiguresontheboardto
provide practical examples for my students. The reason, in fact, is that
marketing is more of a social than a normative science, even though
nowadays, with the increasing availability of data, it is beginning to lean
more in the direction of normative science. The recent trend towards
developing marketing metrics to find causes and effects is a powerful
indicator of these attempts to create concise and concrete information.
Myownsolutionistoputabstractissuesthatcanbecomeboringanddry
into a graphical or visual form so that everybody in the classroom can
follow and enjoy the discussion step by step. In fact, I have sometimes
foundmyselfusingasinglegraphtoexplainallmannerofconceptsrelated
to marketing, enabling me effectively to discuss many integrated and
connected abstract subjects all at the same time. This strategy has pro-
vokedpositiveandinterestedresponsesfrommystudents,witheverybody
enjoying discussing abstract marketing concepts in a more concrete and
visualized format. The most successful aspect is that many students were
able to see the big picture clearly and make the connections between the
concepts and other related subjects from disciplines such as economics,
psychology, statistics, and econometrics, leading to an increase in the
quality of teachingand learning.
Thisbookpresentsgraphics,figuresandvariousvisualillustrationsthat
help us to understand the real meaning behind abstract marketing con-
cepts.Webeginbydiscussingwhatmarketingisandtheessentialelements
of the marketing mix known as the “4Ps”: product, price, place, and
promotion. The elements are then explored one by one with designated
graphics and figures in separate chapters. This is followed by a discussion
of marketing-mix modeling, illustrating how marketing elements can be
used together to create a marketing synergy. The book concludes with a
look at how the Internet revolution has transformed the decades-old 4Ps
marketingmixintothe“4Cs”ofdigitalmarkets.Thisfinalchapter,which
can also be conceptualized as an “integrated e-value-creating process”, is
basedonmyoriginalarticlepublishedbyprofessionaljournalinthefield.
This bookseeks toprovide anew way oflooking atmarketing!
CHAPTER2
Marketing and Marketing Mix
Abstract This chapter discusses the definition of marketing as a social
scienceandtheroleplayedbythemarketing-mixelementsinasuccessful
business. The function of marketing and the role of each element in the
mix areexploredfrombothsocialand normativescience perspectives.
Keywords Marketing (cid:1) Marketing mix (cid:1) Product (cid:1) Price (cid:1) Place (cid:1)
Promotion
Although there are various definitions of marketing, the American
Marketing Association(AMA)currentlydefines itasfollows:
Marketing is the activity, set of institutions, and processes for creating,
exchanging, delivering, and communicating offerings that have value for
customers,clients,partners,andsocietyatlarge1[emphasisadded].
Ifyoulookatthisdefinitionclosely,youwillseethattheformaldefinition
of marketingbasically has fourmajor components:
1 creating an offeringforconsumers
2 exchangingthe offeringat the rightvaluewith consumers
3 delivering thatofferingto consumers
4 communicating thatofferingto consumers.
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