Marketing By Philip Kotler Pdf

  
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Principles of Marketing 16th edition is another book on marketing. Gary Armstrong and Philip Kotler are the book authors. Marketing an Introduction is also written by both authors jointly. Published under Pearson, the 16th edition is a revised and expanded text. It explains the in-depth procedure of marketing strategy.

Principles of Marketing 16th Edition

The most renowned figure in the world of marketing offers the new rules to the game for marketing professionals and business leaders alike In Marketing Insights from A to Z, Philip Kotler, one of the undisputed fathers of modern marketing, redefines marketing's fundamental concepts from A to Z, highlighting how business has changed and how.

Principles of Marketing consists of four main parts. First part is introductory one. It presents the basics of marketing. Readers get to know the answers of following questions. What is marketing? How much important marketing is? What place does customer relationships hold in marketing?

Similarly, second part of the book covers four important chapters. It is more of a deep study into the market. It enables the readers to understand marketplace around them. Also, it focuses separately on consumer markets and business markets. A chapter is dedicated to obtaining customer insights by the help of marketing information.

Principles of Marketing 16th edition covers almost every aspect of marketing. A bunch of chapters are grouped under customer-driven marketing strategy. These include some of the core concepts as well. Chapters on advertising and sales promotion introduce the students to some proven techniques. Pricing is another important factor in marketing. So, two chapters concentrate solely on pricing strategy.

Last part contains some chapters on extending markets. It inculcates social responsibility and ethical aspects in marketing. Principles of Marketing 16th edition also has many other useful features. The addition of key terms in every chapters appears to be very effective for thorough learning. Similarly, A portion of discussing and applying the concepts is added in the text. Overall, this book on marketing is an excellent text from student’s point of view.

Principles of Marketing 16th edition has the addition of case studies. The challenging case studies spark the thought skills of learners.

  • Ideally, marketing should result in a customer who is ready to buy.”7 The American Marketing Association offers this managerial definition: Marketing (management)is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges.
  • (PDF) Principles of Marketing (17th Edition) by Philip T. Kotler Cohen Elizabethe - Academia.edu In a quick changing, progressively computerized and social commercial center, it's more indispensable than any other time in recent memory for advertisers to create important associations with their clients.
  • (PDF) Philip Kotler, Gary Armstrong Principles of Marketing 14th Edition 2011.pdf Guitar Kamikaze - Academia.edu Academia.edu is a platform for academics to share research papers.

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Successful marketing is increasingly becoming a political exercise, as two recent episodes—one international and the other domestic—illustrate:

  • Pepsi-Cola outwitted its arch rival, Coca-Cola, by striking a deal to gain entry into India’s huge consumer market of 730 million people. Coca-Cola had dominated the Indian soft drink market until it abruptly withdrew from India in 1978 in protest over Indian government policies. Coca-Cola, along with Seven-Up, tried to reenter, but hard work and effective political marketing gave Pepsi the prize.

Pepsi worked with an Indian group to form a joint venture with terms designed to win government approval over the opposition of both domestic soft drink companies and anti-MNC legislators. Pepsi offered to help India export its agro-based products in a volume that would more than cover the cost of importing soft drink concentrate. Furthermore, Pepsi promised to focus considerable selling effort on rural areas as well as major urban markets. Pepsi also offered to bring new food processing, packaging, and water treatment technology to India. Clearly, Pepsi-Cola orchestrated a set of benefits that would win over various interest groups in India.

  • Citicorp, the U.S. banking giant, had been trying for years to start full-service banking in Maryland. It had only credit card and small service operations in the state. Under Maryland law, out-of-state banks could provide only certain services and were barred from advertising, setting up branches, and other types of marketing efforts.

In March 1985, Citicorp offered to build a major credit card center in Maryland that would create 1,000 white-collar jobs and further offered the state $1 million in cash for the property where it would locate. By imaginatively designing a proposal to benefit Maryland, Citicorp will become the first out-of-state bank to provide full banking services there.

These two instances demonstrate the growing need for companies that want to operate in certain markets to master the art of supplying benefits to parties other than target consumers. This need extends beyond the requirements to serve and satisfy normal intermediaries like agents, distributors, and dealers. I am talking about third parties—governments, labor unions, and other interest groups—that, singly or collectively, can block profitable entry into a market. These groups act as gatekeepers, and they are growing in importance.

Markets characterized by high entry barriers can be called blocked or protected markets. In addition to the four Ps of marketing strategy—product, price, place, and promotion—executives must add two more—power and public relations. I call such strategic thinking megamarketing.

Marketing is the task of arranging need-satisfying and profitable offers to target buyers. Sometimes, however, it is necessary to create additional incentives and pressures at the right times and in the right amounts for noncustomers. Megamarketing thus takes an enlarged view of the skills and resources needed to enter and operate in certain markets. In addition to preparing attractive offers for customers, megamarketers may use inducements and sanctions to gain the desired responses from gatekeepers. I define megamarketing as the strategically coordinated application of economic, psychological, political, and public relations skills to gain the cooperation of a number of parties in order to enter and/or operate in a given market. Megamarketing challenges are found in both domestic and international situations.

This article describes marketing situations that call for megamarketing strategies and shows how companies can organize their power and public relations resources to achieve entry and operating success in blocked markets.

Strategies for Entry

As they mature, markets acquire a fixed set of suppliers, competitors, distributors, and customers. These players develop a vested interest in preserving the market’s closed system and seek to protect it against intruders. They are often supported by government regulatory agencies, labor unions, banks, and other institutions. They may erect visible and invisible barriers to entry: taxes, tariffs, quotas, and compliance requirements.

Examples of such closed markets abound. A longstanding complaint against Japan concerns the visible and invisible barriers that protect many of its markets. Besides facing high tariffs, foreign companies encounter difficulty in signing up good Japanese distributors and dealers, even when the non-Japanese companies offer superior products and better margins. Motorola, for example, fought for years to sell its telecommunications equipment in Japan. It succeeded only by influencing Washington to apply pressure on Japan and by redesigning its equipment to comply with Japan’s tough and sometimes arbitrary standards.

Other countries as well are erecting barriers to the free entry of foreign competitors to protect their manufacturers, suppliers, distributors, and dealers. France, for example, has adopted a number of official and unofficial measures to limit the number of Japanese cars and consumer electronics products entering its market. France for a time routed Japanese videocassette recorders into Poitiers, a medium-sized inland town, for record keeping and inspection purposes; only two inspectors were assigned to handle the mounting volume of Japanese goods. The goods sat in customs for so long that Japan’s market share and profits were severely restricted.

The British and French developers of the Concorde airplane encountered obstacles in their efforts to obtain landing rights to serve a number of cities; most prominent among the opposition were entrenched airlines and protesters against noise. The Concorde group, which needed to sell 64 planes to break even, sold only 16; the result was the costliest new product failure in history.

Of course, companies that have trouble breaking into new markets aren’t always victims of blocked markets. The problem may be inferior products, overpricing, financing difficulties, unwillingness to pay taxes or tariffs that other companies pay, or protection of the market by a legitimate patent. By blocked markets, I mean markets in which the established participants or approvers have made it difficult for companies with similar or even better marketing offers to enter or operate. The barriers may include discriminatory legal requirements, political favoritism, cartel agreements, social or cultural biases, unfriendly distribution channels, and refusals to cooperate. These create the challenge that megamarketing has to overcome.

How can companies break into blocked markets? There is usually an easy way and a hard way. The easy way is to offer many concessions, thus making it almost unprofitable to enter the market. Japan recently won a coveted contract in Turkey to build a 3,576-foot suspension bridge spanning the Bosporus Strait. Its bid was so low that both the competitors and the Turks were startled; the rivals were left grumbling about unfair competition. Complained the manager of Cleveland Bridge & Engineering, “It would be cheaper [for Japan] to go to the Turks and say, ‘We’ll give you the bridge.’”

The hard way is to formulate a strategy for entry, a task calling for skills never acquired by most marketers through normal training and experience. Marketers are trained primarily in the use of the four Ps: product, price, place, and promotion. They know how to create a cost-effective marketing mix that appeals to customers and end users. But customers and end users are not always the main problem. When a huge gate blocks the company’s path into the market, it needs to blast the gate open or at least find the key so that its goods can be offered to potential customers.

To further complicate matters, not one but several gates must be opened for the company to reach its goal of selling in the blocked market. The company must identify each gatekeeper and convert it by applying influence or power.

Moreover, the strategic marketing effort does not end with successful entry into the protected market. The company must know how to stay in as well as break in. Indian government regulations forced Coca-Cola and IBM to leave the country after many years of operating there. Today, IBM in France is doing its best to withstand French protectionist sentiment; its program includes political and public opinion strategies.

Megamarketing Skills

The following two examples help illustrate mega-marketing problems and the skills needed to cope successfully.

Freshtaste & the Japanese Market

Freshtaste, a U.S. manufacturer of milk-sterilizing equipment, wants to introduce its equipment into Japan but has encountered numerous problems.1 Sterilized milk is a recent innovation that offers two main advantages over fresh milk: it can be stored at room temperature for up to three months and has twice the refrigerated shelf life of ordinary milk after the package is opened. Freshtaste has developed superior equipment for sterilizing milk that avoids the unpleasant side effects of sterilization—a cooked and slightly burnt taste and a filminess that lingers in the mouth after the milk is swallowed.

In searching for new markets for its equipment, the company sees Japan as a good candidate. Japan has a large population, a low but growing rate of per capita milk consumption, and a limited availability of fresh milk. As Freshtaste sets out to sell its equipment to large Japanese dairies, it encounters the following obstacles:

1. It has to develop an advertising campaign to change Japanese milk consumption habits and convince Japanese consumers of the advantages of buying and drinking sterilized milk.

2. The Consumers’ Union of Japan opposes the product because of concerns about sterilized milk’s safety.

3. Dairy farmers located near large cities oppose the distribution of sterilized milk. They fear competition from faraway dairies, since sterilized milk has a long inventory life and can be shipped long distances.

4. Several large retailers say they will not carry sterilized milk because of interest-group pressure. Milk specialty stores, which thrive on home deliveries, also oppose the introduction of sterilized milk.

5. The Health and Welfare Ministry and the Ministry of Agriculture and Forestry have indicated they will wait and gauge consumer acceptance of sterilized milk before taking action to approve or disapprove general distribution.

Freshtaste must thus undertake campaigns tailored to each barrier, as shown in Exhibit I. It must seek cooperation from the ministry of health; attract support from favorable segments of dairy farmers, wholesalers, and retailers; and educate Japanese consumers. The company faces a formidable megamarketing problem calling for adroit political and public relations skills as well as normal commercial ones. It must be sure that the Japanese market is large enough, and the probability of successful entry high enough, to justify the cost and time involved in trying to enter this market.

Exhibit I Freshtaste’s Megamarketing Challenge

Japanese Consumer Electronics in India

Japanese companies have coped with blocked markets in ingenious ways. India, for example, banned the import of luxury consumer electronics products in a drive to conserve its foreign hard currency and protect its fledgling home consumer electronics industry. Yet Japanese companies like Sony, Panasonic, and Toshiba have taken steps to pry open the Indian market, however slightly, to its brands of televisions, videocassette recorders, and stereos.2

Although many Japanese consumer electronics products are not officially available in India, several Japanese companies advertise their products in Indian newspapers and magazines in order to build preference for them should they become available at a later date. In the meantime, this advertising influences the selection of Japanese products by Indian tourists in Sri Lanka, Singapore, and other free markets as well as by Indian workers laboring in other countries. Furthermore, some Japanese products enter the Indian market unofficially and are immediately purchased by consumers.

In addition, the Japanese government supports Japanese companies by lobbying the Indian government for a relaxation of the ban or for its transformation into quotas or normal tariffs. In return, Japan offers to buy more Indian goods and services.

Thus, although Japanese businesses cannot export certain products to India, they have pursued mega-marketing actions on several fronts to gain access to this vast and fertile market.

Megamarketing vs. Marketing

Although companies face a growing number of blocked markets, they are rarely organized to develop or execute megamarketing strategies. By comparing megamarketing with marketing, Exhibit II suggests why. The comparison means reviewing elementary aspects of marketing, but the review is necessary to evaluate megamarketing effectively.

Exhibit II Marketing and Megamarketing Contrasted

Marketing objective. In normal marketing situations, a market already exists for a given product category. Consumers understand that category and simply choose among a set of brands and suppliers. A company entering the market will define a target need or customer group, design the appropriate product, set up distribution, and establish a marketing communications program. On the other hand, megamarketers face the problem of first gaining market access. If the product is quite new, they must also be skilled in creating or altering demand. This requires more skill and time than simply meeting existing demand.

Parties involved. Marketers routinely deal with several parties: customers, suppliers, distributors, dealers, advertising agencies, market research firms, and others. Megamarketing situations involve even more parties: legislators, government agencies, political parties, public-interest groups, unions, and churches, among others. Each party has an interest in the company’s activity and must be sold on supporting, or at least not blocking, the company. Megamarketing is thus a greater multiparty marketing problem than marketing.

Marketing tools. Megamarketing involves the normal tools of marketing (the four Ps) plus two others: power and public relations.

1. Power. The megamarketer must often win the support of influential industry officials, legislators, and government bureaucrats to enter and operate in the target market. A pharmaceutical company, for example, that is trying to introduce a new birth control pill into a country will have to obtain the approval of the country’s ministry of health. Thus the mega-marketer needs political skills and a political strategy.

The company must identify the people with the power to open the gate. It must determine the right mix of incentives to offer. Under what circumstances will the gatekeepers acquiesce? Is legislator X primarily seeking fame, fortune, or power? How can the company induce this legislator to cooperate? In some countries, the answer may be with a cash payoff (a hidden P). Elsewhere, a payoff in entertainment, travel, or campaign contributions may work. Essentially, the megamarketer must have sophisticated lobbying and negotiating skills in order to achieve the desired response from the other party without giving away the house.

2. Public relations. Whereas power is a push strategy, public relations is a pull strategy. Public opinion takes longer to cultivate, but when energized, it can help pull the company into the market.

Indeed, power alone may not get a company into a market or keep it there. In the late 1960s, for example, Japanese chemical companies received permission to open chemical factories in Korea by exploiting Korea’s desperate need to expand its heavy industry. They played the power game with the Korean government by offering technological assistance, new jobs, and side payments to government officials. In the early 1970s, however, the Korean media accused Japanese factories of exposing young female workers to toxic chemicals; most of them became barren. The Japanese companies tried to pay government officials to quiet the media but they couldn’t silence public opinion. They should have paid more attention to establishing responsible production methods and cultivating the public’s goodwill.

Before entering a market, companies must understand the community’s beliefs, attitudes, and values. After entering, they need to play the role of good citizen by contributing to public causes, sponsoring civic and cultural events, and working effectively with the media. Olivetti, for example, has won a good name in many markets by making large contributions to worthwhile causes in host countries. It has shown skill in the strategic management of its corporate public image.

Kotler

Type of inducement. Marketers are trained primarily in the art of using positive inducements to persuade other parties to cooperate. They believe in the voluntary exchange principle: each party should offer sufficient benefits to the other to motivate voluntary exchanges.

Megamarketers, however, often find that conventional inducements are insufficient. The other party either wants more than is reasonable or refuses to accept any positive inducement at all. Thus the company may have to add unofficial payments to speed the approval process. Or it may threaten to withdraw support or mobilize opposition to the other party. The relationships of auto manufacturers with their franchised dealers and of drugstore chains with some pharmaceutical manufacturers demonstrate how companies use raw power from time to time to gain their ends.3

Although companies occasionally use negative as well as positive inducements, most experts believe that positive inducements are better in the long run.4 Negative inducements are ethically questionable and may produce resentment that can backfire on the marketer.

Time frame. Most product introductions take only a few years. Megamarketing challenges, on the other hand, usually require much more time. Numerous gates have to be opened, and if the product is new to the public, much work has to be done to educate the target market.

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Investment cost. Because the effort must be sustained over a long period and may entail side payments to secure the cooperation of various parties, megamarketing involves higher costs as well as more time.

Personnel involved. Marketing problems are normally handled by a product manager, who draws on the services of advertising specialists, market researchers, and other professionals. Megamarketing problems require additional skilled personnel, both inside and outside the company: top managers, lawyers, public relations and public affairs professionals. Megamarketing planning and implementation teams are large and require much coordination. For example, when KLM, the Dutch airline, sought landing rights in Taiwan, the company’s president participated, its international department exploited its contacts with Taiwan officials, its public relations department put out favorable news stories and arranged news conferences, and its lawyers participated in the negotiations to make sure the contracts were sound.

Although new skills are required to enter blocked markets, marketing professionals need not be specially trained in the additional skills. Rather, they need to broaden their view of what it takes to enter these markets and to coordinate various specialists to achieve the desired goals.

Marketers as Political Strategists

Few marketers are trained in the art of politics and are thus unaccustomed to using power to achieve favorable transactions. Most marketers think that value, not power, wins in the marketplace.

The growth of protected markets, however, requires marketers to incorporate the notion of power into their strategies. Marketing is increasingly becoming the art of managing power. What do they need to know about power? They need to know that power is the ability of one party (A) to get another party (B) to do what it might not otherwise have done. It is A’s ability to increase the probability of B’s taking an action. A can draw on at least five bases of power to influence B:5

Rewards. A offers to reward B for engaging in the desired behavior. The reward might be recognition, entertainment, gifts, or payments. Marketers are expert in the use of rewards.

Coercion. A threatens to harm B in the absence of compliant behavior. A may threaten physical, social, or financial harm. Marketers have been loath to use coercive power because of its doubtful ethical status, because it doesn’t square with the marketing concept, and because it can create hostility that can backfire on the marketer.

Expertise or information. A offers B special expertise, such as technical assistance or access to special information, in exchange for B’s compliance.

Legitimacy. A is seen to have a legitimate right to make certain requests of B. An example would be the Japanese premier asking Nippon Electric Company to put Motorola on its approved supplier list.

Prestige. A has prestige in B’s mind and draws on this to request B’s compliance. An example would be Chrysler president Lee Iacocca requesting a meeting with officials in a foreign country to present arguments for opening a Chrysler plant in that country.

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Power is key to megamarketers. Companies that find themselves blocked from a market must undertake a three-step process for creating an entry strategy: mapping the power structure, forging a grand strategy, and developing a tactical implementation plan. /dev-c-error-lglut32-no-such-file-or-directory.html.

Mapping the Power Structure

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Executives must first understand how power is distributed in the particular target community (city, state, nation). Political scientists identify three types of power structures.6 The first type is a pyramidal power structure in which power is invested in a ruling elite, which may be an individual, a family, a company, an industry, or a clique. The elite carries out its wishes through a layer of lieutenants, who in turn manage a layer of doers. The marketing strategist who wants to operate in such a community can get in only if the ruling elite approves or is neutral.

Philip

The second type is a factional power structure in which two or more factions (power blocs, pressure groups, special-interest groups) compete for power in the community. Political parties are an example. The competing parties represent different constituencies—labor, business, ethnic minorities, or farmers. Here the company’s strategists must decide with which factions they want to work. In allying with certain factions, the company usually loses the goodwill of others.

The third type is a coalitional power structure in which influential parties from various power blocs form temporary coalitions. When power is in the hands of a coalition, however temporarily, the company has to work through the coalition to secure its objectives. Or the company can form a countercoalition to support its cause.

Identifying the power structure as pyramidal, factional, or coalitional is only the first step of the analysis. Executives next have to assess the relative power of various parties. A’s power over B is directly related to B’s dependence on A. B’s dependence on A is directly proportional to B’s interest in goals controlled by A and inversely proportional to B’s chance of achieving the goals without A. In other words, A has power over B to the extent that A can directly affect B’s goal attainment and B has few alternatives.7

Forging a Grand Strategy

In planning entry into a blocked market, the company must identify opponents, allies, and neutral groups. Its aim is to overcome the opposition, and it can choose from three broad strategies.

1. Neutralize opponents by offering to compensate them for any losses. The theory of welfare economics holds that a proposed action will generally be supported if everyone benefits or if those who benefit can satisfactorily compensate those who are hurt. Compensation costs should be included as part of the total cost when determining whether it pays to go forward with the project.

2. Organize allies into a coalition. The company’s potential supporters may be scattered in the community, and their individual power is less than their potential collective power. Thus the company can further its cause by creating a coalition of allies.

3. Turn neutral groups into allies. Most groups in a community will be unaffected by the company’s entry and thus indifferent. The company can use influence and rewards to convert these groups into supporters.

A growing number of companies are forming strategic alliances—licensing arrangements, joint ventures, management contracts, and consortia—to overcome blocked markets. Examples of strategic partnering in the automobile industry include General Motors-Toyota, Ford-Mazda, and Renault-AMC. In other industries, we have such examples as Honeywell-Ericsson in communications, Sharp-Olivetti in office automation equipment, and Philips-Siemens in voice-synthesis technology.8 Intercompany networking offers a superior means for securing entry and operating clout in otherwise blocked markets.

Still another approach is to harness the power of one’s government to aid in opening another country’s market. This calls for effective “at home” lobbying of the sort Motorola did in getting the U.S. government to pressure Japan into opening its telecommunications market. Similarly, American computer companies lobbied in Washington to get President Reagan to threaten banning various Brazilian exports to the United States if Brazil did not rescind its bill banning the sale of foreign-made computers in Brazil.

Developing a Tactical Implementation Plan

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Once a company has chosen a broad strategy, it must create an implementation plan that spells out who does what, when, where, and how. Activities can be sequenced in two broad ways: in linear or multilinear fashion (Exhibit III). Adopting a linear approach, Freshtaste (described earlier) can try first to win the approval of Japan’s minister of health to market its product because, without that approval, the company cannot succeed. If it gets the approval, Freshtaste might then try to convince one or more large retailers to carry sterilized milk. Again, if it cannot accomplish this, it will withdraw. In this way, Freshtaste accumulates successive commitments before entering the market.

Exhibit III Two Ways to Implement a Tactical Plan

Multilinear sequencing will shorten the time required for accomplishing the project. Freshtaste executives could contact the minister and the supermarket chains simultaneously. If some supermarket chains sign up, Freshtaste can then contact some dairies and start a consumer education campaign. If, however, some crucial commitment is not forthcoming, Freshtaste will withdraw. This approach may lose more money but settle the issues earlier.

Implications of Megamarketing

Megamarketing broadens the thinking of marketers in three ways:

1. Enlarging the multiparty marketing concept. Marketers spend much time analyzing how to create preference and satisfaction in target buyers. Because other parties—governments, labor unions, banks, reform groups—can block the path to the target buyers, marketers must also study the obstacles these parties create and develop strategies for attracting their support or at least neutralizing their opposition.

2. Blurring the distinction between environmental and controllable variables. Marketers have traditionally defined the environment as those outside forces that cannot be controlled by the business. But megamarketing argues that some environmental forces can be changed through lobbying, legal action, negotiation, issue advertising, public relations, and strategic partnering.9

3. Broadening the understanding of how markets work. Most market thinkers assume that demand creates its own supply. Ideally, companies discover a market need and rush to satisfy that need. But real markets are often blocked, and the best marketer doesn’t always win. We have seen that foreign competitors with offers comparable or superior to those of local companies can’t always enter the market. The result is a lower level of consumer satisfaction and producer innovation than would otherwise result.

Some may oppose the enlarged view of marketing proposed here. After all, megamarketing impinges on the responsibilities of some nonmarketing executives and argues that marketers should feel comfortable using power to accomplish their purposes. Marketers normally deal with other parties in the most courteous manner; many will suffer image shock in adopting the megamarketing approach. Yet this innocence has led companies to fail in both international and home markets where transactions are marked by tough bargaining, side payments, and various complexities. Megamarketing offers executives an approach to dealing with rising international and domestic competition for large-scale and long-term sales.

1. Philip R. Cateora and John M. Hess, International Marketing (Homewood, Ill.: Richard D. Irwin, 1979), p. 234.

2. P. Rajan Varadarajan, “A Strategy for Penetrating Third World Markets with High Entry Barriers: An Exposition of the Japanese Approach,” unpublished paper, Texas A&M University, 1984.

3. Valentine F. Ridgway, “Administration of Manufacturer-Dealer Systems,” Administrative Science Quarterly, March 1957, p. 464; Joseph C. Palamountain. The Politics of Distribution (Cambridge: Harvard University Press, 1955).

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4. See, for example, B.F. Skinner, Beyond Freedom and Dignity (New York: Alfred A. Knopf, 1971).

5. John R.P. French, Jr. and Bertram Raven, “The Bases of Social Power,” in Studies in Social Power, ed. Dorwin Cartwright (Ann Arbor, Mich.: Institute for Social Research, 1959), p. 118.

6. John B. Mitchell and Sheldon G. Lowry, Power Structure, Community Leadership and Social Action (Columbus: Ohio State University Cooperative Extension Service, 1973).

7. Richard M. Emerson, “Power-Dependence Relations,” American Sociological Review, February 1962, p. 31.

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8. Robert J. Conrads, “Strategic Partnering: A New Formula to Crack New Markets in the 80s,” Electronic Business Management, March 1983, p. 23.

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9. Carl P. Zeithaml and Valarie A. Zeithaml, “Environmental Management: Revising the Marketing Perspective,” Journal of Marketing, Spring 1984, p. 47.