Introduction to Marketing Management - 1

Marketing management is ‘the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value’. It relies heavily on designing the organizations offering in terms of the target markets needs and desires and using effective pricing, communication and distribution to inform, motivate and service the market. Marketing management is concerned with the chalking out of a definite programme, after careful analysis and forecasting of the market situations and the ultimate execution of these plans to achieve the objectives of the organisation.

With the rise in incomes of the people in general, the overall demand for all types of goods has gone up. This has led to an increase in production of various types of consumer goods. With the relaxation of licensing regulations and import controls and the entry of multinationals in many fields, there has been a sea change in the competitive environment among the firms. A marketing manager has to formulate marketing strategic plans in order to sustain in such a competitive market. Thus, the success or failure of a business now depends upon how effectively the marketing functions are performed.

The course will focus on the working knowledge of different concepts of Marketing and their use in managerial decisions so as to enable to formulate an effective marketing programme as mentioned below:

1. Marketing: Concept, Nature, Functions & Importance. Selling Vs. Marketing. Marketing Environment: Nature, Types & Strategies to deal with Internal and External (Micro and Macro) Marketing Environment. Ethical and Social Responsibilities of Marketing Manager.

2. Marketing System: Types of Marketing, Marketing Information System; Definition and Components. Marketing Research; Definition Objective, Process & Significance

3. Consumer Behavior: Factors Influencing the Consumer Behavior, Consumer Buying Process, Buying Motives, Consumer Market in India.

Market Segmentation: Concept, Importance, and Basis. Target Market Selection, Market Positioning: Concept & Importance. Market Repositioning. Product Differentiation Vs Market Segmentation. Contemporary Issues In Marketing.

COURSE LAYOUT

WEEK 1:

1. Evolution, Nature and definitions of marketing
2. Core Concepts of Marketing,Functions and Importance of Marketing
3. Marketing concepts/philosophies, Selling Vs. Marketing
4. Need for environmental analysis; nature of marketing environment.

WEEK 2:
1. Types of marketing environment; macro and micro; economic, demographic environment and strategies to deal with these different environments.
2. Types of marketing environment; social cultural and technical; Political, legal and E-Business environment and strategies to deal with these different environments.
3. Micro environments: suppliers, distributors consumers and competitors and strategies to deal with these different environments.
4. Importance of environmental analysis and Indian Marketing environment, Ethical issues in terms of product, pricing, promotional strategies and distribution system, Roles & responsibility and social responsibilities of a marketing manager.

WEEK 3:

1. Types of marketing I: Digital; Internet, Affiliate; multi-level marketing.
2. Types of marketing II: Global and other types of marketing, Evolution of marketing information system.
3. Marketing and information, The dimensions of marketing information systems.
4. Marketing information system design and steps in MIS design, Role and importance of MIS

WEEK 4:

1. Importance of marketing research; scope, role and objectives of marketing research; Types of marketing research: exploratory, descriptive and causal.
2. Process of marketing research-problem identification; definition and characteristics of marketing problems.
3. Developing a market research plan, research design.
4. Collection of data: sources of data, methods of data collection.

WEEK 5:

1. Analysis of collected data.
2. Preparation of research report, Types of scales.
3. Consumer behaviour defined; why study consumer behaviour.
4. 7O’s framework; kotler’s consumer buying behaviour model, Factors influencing consumer behaviour.

WEEK 6:

1.Stages of consumer buying process
2.Participants in the buying process and various groups interested in consumer behavior, Organisational buyer behaviour and its nature; difference between personal consumer and industrial consumer
3.Stages of industrial buying process, Factors influencing industrial buying behaviour
4.Consumerism and public issues, Types of buying behaviour, Different types of buying motives, Consumer market in India

WEEK 7:

1.Market segmentation concept and importance, Criteria and bases for market segmentation.
2.Segmentation of markets for industrial goods, segmentation bases for institutional markets.
3.Guidelines for selecting Target market, approaches to target market.
4.Positioning of product and services; importance and effective positioning.

WEEK 8:

1.Positioning process, Market Repositioning.
2.Product Differentiation Vs Market Segmentation, Contemporary Issues In Marketing.