Marketing: Principles and practice: A management-oriented approach (4th ed)

Abstract

Synopsis and Evaluation Marketing: Principles and Practice: A Management-Oriented Approach (2020) provides a comprehensive introduction to marketing and strategic marketing management. Structured according to the marketing planning process, the chapters are divided into four "phases," in which phase 1 is the analysis, phase 2 is strategy formulation, phase 3 is tactical decisions, and phase 4 is implementation and control. "Peter Drucker, an Austrian-born American management consultant, educator, and author...once stated: 'A business has two, and only two, basic functions: marketing and innovation.

Book Details

Hollensen, S., & Opresnik, O. M. (2020). Marketing: Principles and practice: A managementoriented approach (4th ed). Columbia, SC: Opresnik Management Consulting, 477 pages, $26.51, softcover, ISBN: 979-8554161223.

Reviewer

Hagai Gringarten, Ph.D.

Synopsis and Evaluation

Marketing: Principles and Practice: A Management-Oriented Approach (2020) provides a comprehensive introduction to marketing and strategic marketing management. The book, coauthored by leading academic marketing experts, offers a clear and easy-to-understand overview of the latest developments in marketing.

Marc Opresnik is a distinguished professor of marketing at the Technische Hochschule Lübeck as well as a member of the Board of Directors at SGMI Management Institute St. Gallen in Switzerland. He is Chief Research Officer at Kotler Impact, Inc., and a global co-author of marketing legend Philip Kotler. Svend Hollensen is a distinguish professor of international marketing at the University of Southern Denmark, with extensive global consulting experience, and author of globally published textbooks.

Marketing: Principles and Practice: A Management-Oriented Approach (2020) presents a complete and holistic overview of the latest in contemporary marketing, without unnecessary photos or text. It concentrates on the essential marketing know-how for both practitioners and students (Preface). The book provides a comprehensive introduction to the latest developments in marketing, including Blockchain, Internet of Things, and Artificial Intelligence as well as revisiting focal subjects such as ethical issues in marketing and societal marketing.

This updated and extended fourth edition is divided into six major sections and many subchapters:

* Fundamentals of Marketing and Marketing Management.

* Situational Analysis in the Marketing Planning Process.

* Strategy Formulation in the Marketing Planning Process.

* Marketing Mix in the Marketing Planning Process.

* Implementation and Controlling in the Marketing Planning Process.

* Conclusion.

Structured according to the marketing planning process, the chapters are divided into four "phases," in which phase 1 is the analysis, phase 2 is strategy formulation, phase 3 is tactical decisions, and phase 4 is implementation and control. Throughout the book, Professors Hollensen and Opresnik incorporate current "Marketing Highlight" segments, presenting recent global marketing cases that put in perspective marketing applications and strategies. The book provides an easy to understand and solid insight of modern marketing.

A concise introduction to the theory and practice of Marketing in the 21st century, Opresnik and Hollensen's Marketing: Principles and Practice: A Management-Oriented Approach (2020) provides excellent coverage of marketing fundamentals to a brand new world of intertwined, highspeed, globally competitive marketplace. Targeting advanced undergraduate students, practitioners, and MBA students, the book provides a clear, lively, and smart overview of the latest developments in marketing. Updated, timely, and priced right, this marketing book is indispensable to professors and students alike. I highly recommend it.

In the Author's Own Words

"This marketing text not only integrates all relevant aspects of marketing but also structures them in such a way, that both practitioners and students acquire a comprehensive and holistic overview, how it all fits together. This is achieved by the structure of the book, which follows the marketing planning and decision making process inside the company" (Preface).

"Peter Drucker, an Austrian-born American management consultant, educator, and author...once stated: 'A business has two, and only two, basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs'" (p. 1).

Reviewer's Details

Hagai Gringarten, Ph.D. ([email protected]), is a branding expert and Marketing Professor at St. Thomas University, and was a Visiting Professor at several Chinese universities. He has served as President of the American Marketing Association South Florida chapter and co-authored a bestselling book about coffee. Dr. Gringarten is Publisher and Editor-in-Chief of the Journal of Multidisciplinary Research (http://www.jmrpublication.org) and served on the review board of the Journal of International & Interdisciplinary Business Research, a California State University publication. He currently serves on Governmental and Academic boards. His latest book Ethical Branding andMarketing: Cases and Lessons (Routledge, 2019) was published in the U.K. and the U.S.A.

To Cite this Book Review

Gringarten, H. (2021, Spring). [Review of the book Marketing: Principles and practice: A management-oriented approach, by S. Hollensen & O. M. Opresnik]. Journal of Multidisciplinary Research, 13(1), 119-120.