1.

The book refers to the some basic but guiding principles of economics that cross road with
Marketing Management. Going forwards the marketing, having a long term approach, discusses
the strategy making process which thus enables the business to have brand or niche development.
Since, the people are the richest and potentially rich resource so from their psychology, diversity,
management and crisis management is discussed in a comprehensive manner. after giving the
bird eye view to the finance and financial numbers the books goes step further for dealing with
the modern day issues like business ethics, legal compliance, corporate social responsibility and
related regulations which affect not only the legal but also the moral standings and positioning
of the company.

2. The Development of Marketing Management is the chronological account of the emergence

and evolution of marketing management over the time. The Butler`s idea starts with the earlier
concept of marketing which was quite simple and narrowly scoped but was comprehensive
enough in its times. The start of scientific method transformed the every field and marketing is
not exception to it. Then, the merchandising which mainly deals with the trade aspects of business
was also touched with marketing but was considered to be a missing chapter from the book of
marketing. With the passage of time, the compass of marketing broadened and it covered vital
and crucial aspects of business including but no limited to product management and policy. Post
world wars periods were the time of fast transitions in which many new concepts entered into
the field of marketing and they further broadened the scope of marketing.

3. The concept of service emerged not a long ago in the field of marketing which is an intangible
product which has certain distinguishing features than from a tangible product. It was worked
and analyzed, through the book, that many of the prevailing concepts of marketing can be applied
to services. This is very important to understand the consumer behavior in case of services as they
are not tangible, quantified and post-purchase cognitive dissonance can be much more in many
of the cases. The growing competition emerged the concept of competitive advantage which is
the comparative upside a company has while being in business competition with other market
players. Service distribution in different emerged channels while keeping four “P`” of marketing
intact is another a dynamic business challenge. Another important aspect is promotion which is
more crucial in case of services. Other concepts like service environment, service advantage
through managing people and service strategies were also discussed in the book in very an
efficient and persuasive manner.

4. The retailers are one of the important pillars in the business world. Their marketing is different
than from many other businesses. The book negates the traditional mind set of retailers and talks
about new ideas of business like innovation, customer centric approach and entrepreneurship.
The book stresses that the value created by brands and store brands is the main success factor
behind the success of large retailers. They keep the customers engaged and make them loyal
customers which last for longer time periods. They make innovations in stores which keep the
customers attracted and lead the business towards sustainable success.

5. The marketing Challenge was published in 1993. The book has four section; the very first
discusses the topic of time then including globalization, political aspects affecting businesses
across the globe, environmental and ethical concerns, and technological changes reshaping the
businesses in all parts of the world. The book also sheds light on contemporary trend then i.e.
Decentralization vs Centralization in the growing business environment specially in case of
MNC`s. The next section discusses the critical strategic concepts along with the emphasize of
organization for making marketing more worthy for the business. The importance of brand and
its SWOT towards the business also discussed along with international and local example in very
effective manner. The different but emerging trends like corporate marketing, sponsorship, PR`s
and other aspects vital for business fortune like price marketing also explored by the author in
very pragmatic manner. Though the book is very comprehensive read of its times but owing to
the dynamic nature of business world many of the concept have considerably been transformed.
But, the book is good chronological account of marketing evolution in last two decades. .