This book bridges the disciplines of economics and marketing and brings them to bear on the analysis of contemporary business problems. The world has changed dramatically over the last four decades. Sociologically, technologically, economically and politically speaking the world is changing at an increasing pace. The spread of ideas and values are reinforcing the impact of globalization on various business operations and activities. As the late Peter Drucker once remarked: "while you were out the world changed." To make sense of to the world we live in, we are compelled to draw from diverse disciplines and subjects.This book focuses on the contributions of economics and marketing. The basic principles, theories and issues of economics are selected and are integrated with key elements and principles of marketing. Marketers, in conventional as well as in digital markets, are encouraged to integrate marketing with economics in order to make successful and effective business decisions. Marketing and Economics are subjects dealing with business - business of private firms, not-for-profit organisations and that of government. Economics involves allocation of scarce resources. Scarcity in economics is relative scarcity, scarcity in relation to demand. Written in a casual, accessible language and taking very little for granted, this book is for anyone who is curious about economics and marketing. It provides the essential analytical framework necessary for thriving in today's business. In its diverse chapters it covers topics such as offshoring, the circular economy, benchmarking, mergers and acquisitions, knowledge and innovation, services industries, customer relationships, advertising and communication, among others. It is particularly well suited to undergraduates in business or economics and its fresh perspectives on today's challenges would be of interest to business managers and marketing professionals.
Sultan Kermally is an Economist and Chartered Marketer. He holds degrees in Geography, Economics, Sociology and Law, Diploma in Finance & Accounting, Diploma in Marketing, Certificate in Further Education, Certificate in on-line teaching and Certificate in Mentoring. He is a Fellow of the Chartered Institute of Marketing. He has conducted management training for well-known organisations in the UK, the Netherlands, Belgium, France, Italy, Greece, Austria, the Middle East, Hong Kong, Kyrgyzstan and Tajikistan. He has been teaching at undergraduate and MBA level for the Open University Business School, Durham University Business School, Chartered Management Institute, Oxford Brookes University and Laureate/University of Liverpool. For several years he held senior academic positions in Scotland and thereafter senior directorship positions at Management Centre Europe (Brussels), London Business School and the Economist Conferences (The Economist Group) based in London. At Management Centre Europe and again at the Economist, he spent some time working with well-known management gurus including the late Peter Drucker, Michael Porter, Tom Peters, Richard Pascale, Philip Kotler, Don Schultz, Rosabeth Moss Kanter, Tony Buzan and Benjamin Zander to name but a few.
