He co-chaired the 1993 Academy of Marketing Science Conference, the 1998 Winter American Marketing Association Conference, the 2001 AMA doctoral consortium, and the American Marketing Association 2006 Summer Educators Conference. He was co-editor of Journal of Retailing from 2001 to 2007. He has served as VP, research and conferences, American Marketing Association Academic Council (1999–2001), and as VP, development for the Academy of Marketing Science (2000–2002). He was ranked first in the marketing field in terms of publications in the top-six marketing journals during the 1991–1998 period and again for the 2000–2007 period. He is a Distinguished Fellow of the Academy of Marketing Science. He was awarded the 2012 Lifetime Achievement Award in Pricing (AMA Retailing & Pricing SIG), the 2010 AMS Cutco/Vector Distinguished Educator Award, the 2010 Lifetime Achievement Award in Retailing (AMA Retailing SIG), and in 2005 the Lifetime Achievement in Behavioral Pricing Award (Fordham University, November 2005). (Virginia Tech) is the Toyota Chair in Commerce and Electronic Business and a professor of marketing at Babson College. Michael Levy Authors Michael Levy (left) and Dhruv Grewal (right).ĭhruv Grewal Dhruv Grewal Ph.D. He has taught seminars in the United States, Europe, and Asia. He has taught executive seminars and courses and worked on research projects with numerous firms, such as ExxonMobil, Dell, IRI, TJX, Radio Shack, Telcordia, Khimetriks, Profit-Logic, Monsanto, McKinsey, Ericsson, Council of Insurance Agents & Brokers (CIAB), Met-Life, AT&T, Motorola, Nextel, FP&L, Lucent, Sabre, Goodyear Tire & Rubber Company, Sherwin Williams, Esso International, Asahi, and numerous law firms. –Michael LevyĪbout the authors and Virginia Tech Certificate of Recognition for Outstanding Teaching (1989). –Dhruv Grewal To my wife Marcia and daughter Eva. To my wife Diana and my children, Lauren and Alex.
To our families for their never-ending support. The inclusion of a website does not indicate an endorsement by the authors or McGraw-Hill, and McGraw-Hill does not guarantee the accuracy of the information presented at these sites. HF5415.G6753 2014 658.8-dc23 2012044583 The Internet addresses listed in the text were accurate at the time of publication. Marketing / Dhruv Grewal, Ph.D., Babson College, Michael Levy, Ph.D., Babson College.-Fourth Edition. Library of Congress Cataloging-in-Publication Data Grewal, Dhruv. Donnelley All credits appearing on page or at the end of the book are considered to be an extension of the copyright page. Chappetto Typeface: 10/12 Palatino Compositor: Aptara, Inc. Bielski Senior Designer: Matt Diamond Interior Designer: Cara Hawthorne Cover Designer: Pam Verros Lead Content Licensing Specialist: Keri Johnson Photo Researcher: Mike Hruby Senior Media Project Manager: Susan Lombardi Media Project Manager: Joyce J. Delso Marketing Manager: Donielle Xu Lead Project Manager: Christine A. Strand Vice President, General Manager, Products & Markets: Brent Gordon Vice President, Content Production & Technology Services: Kimberly Meriwether David Managing Director: Paul Ducham Executive Brand Manager: Sankha Basu Executive Director of Development: Ann Torbert Senior Development Editor: Kelly L. Senior Vice President, Products & Markets: Kurt L. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Copyright © 2014 by The McGraw-Hill Companies, Inc. MARKETING, FOURTH EDITION Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Marketing Fourth Edition Dhruv Grewal, Ph.D. The definition of marketing, established by the American Marketing Association, October 2007. Marketing Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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