Market-Based Management (3rd Edition)
- Book Review,
by Roger J. Best
Book Description
This book takes a strategic approach to value/profitability in marketing management and helps readers work through financial analysis. The Third Edition includes increased coverage of important topics such as e-Marketing, supply chain management, customer relationship management, and branding. It focuses on the fundamental need for businesses to attract, satisfy, and retain customers. Coverage that goes beyond marketing fundamentals features a three-fold integration of market-driven strategy, customer satisfaction, and profitable growth. For marketing departments and business owners seeking the tools and techniques for delivering higher levels of customer satisfaction, marketing productivity and profitability.
From the Back Cover
Are you looking for a marketing management book that takes a strategic approach and connects marketing decisions with financial implications? Is your course becoming more focused on customer relationships, customer satisfaction, and customer value? If so, Market-Based Management, Third Edition, was written with you in mind.
About the Author
Dr. Roger J. Best is an Emeritus Professor of Marketing at the University of Oregon. He earned a Bachelor of Science in Electrical Engineering from California State Polytechnic University in 1968. Following graduation, he joined the General Electric Company where he worked in both engineering and product management. While at GE, he received a patent for a product he developed. Dr. Best completed his MBA at California State University, Hayward in 1972 and received his Ph.D. from the University of Oregon in 1975. He taught at the University of Arizona from 1975 to 1980 and the University of Oregon from 1980 to 2000. Over the past twenty-five years, he has published over fifty articles and won numerous teaching awards. In 1998 he received the American Marketing Association Distinguished Teaching in Marketing award. In 1988, the Academy of Marketing Science voted an article on marketing productivity by Dr. Best and co-authors the outstanding Article of the Year. He is a co-author of Consumer Behavior: Implications for Marketing Strategy (8th ed.). Dr. Best has also developed the Marketing Excellence Survey (www.MESurvey.com), a benchmarking tool for assessing a manager's marketing knowledge and market attitudes based on a worldwide database of over 15,000 managers and MarkProf (www.MarkProf.com), an online marketing profitability tool to help marketing managers "mess the profit impact of marketing strategies. Over the past twenty years, Dr. Roger J. Best has been active in working with a variety of companies in both marketing strategy consulting and management education. These companies include General Electric, Dow Chemical, Dow Corning, DuPont, Eastman Kodak, MediaOne, Lucas Industries, Tektronix, ESCO, Pacific Western Pipe, James Hardie industries, Sprint, and US West. Dr. Best has also taught many executive management education programs at INSEAD, in Fontainebleau, France.
Excerpt. © Reprinted by permission. All rights reserved.
Based on positive feedback from students, professors, and those working in the field of marketing, I was encouraged to pursue a third edition of Market-Based Management. The strength of the book remains its focus on market orientation and the processes and tools for building marketing strategies that deliver superior levels of customer value and profitability. A differentiating feature of this book is its focus on marketing profitability, and the role marketing strategies play in building the profits of a business. The best way to accomplish this is with a market-driven strategy that attracts, satisfies, and retains target customers with a value that is superior to competing products or services. The third edition builds on this theme in several ways. A special effort was made to include more coverage of Customer Relationship Management, E-Marketing Strategies, and Brand Management Strategies. In addition, Application Problems at the end of each chapter have been revised. However, the feature that will greatly enhance the third edition the most is the online, interactive spreadsheets that can be used to analyze the application problems. This will give students the opportunity to solve real-world marketing problems online as well as experiment with the interactive spreadsheets to further develop marketing insights. For instructors, the application problems and interactive spreadsheets can be used to create additional assignments. Market-based management is intuitively easy but deceptively difficult. The reason students and professionals like this book is because it is readable, and because it presents the tools and processes needed to actually build a market-driven strategy. The concepts, by themselves, are important and are the backbone of market-based management. However, they are of limited value if they cannot be applied in a way that delivers superior customer value and profitability. Those in marketing need to take a greater level of responsibility for managing profits and the external performance metrics of a business. This is an important benefit of this book. It is my hope that this book will help you in your understanding of, commitment to, and practice of market-based management. Roger J. Best Emeritus Professor of Marketing University of Oregon
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