Marketing V/s Selling, Customer value, Components of customer value and components of customer cost. Marketing Ethics- green marketing and green economy. Marketing Myopia.Marketing Environment -Components of Environment to be analysed- Micro/ Macro Environment, Technological environment, Socio-cultural environment, Economic Environment, Legal Environment, Consumer/demographic environment, Government policies, Political environment. Techniques used in Environment Analysis. Contemporary Indian Marketing Environment. Cause and Social Marketing alternate concepts like 3V concepts of Nirmalaya Kumar Social Responsibility of marketing- new marketing realities, new responsibilities, new-age marketing, societal marketing concept, Corporate Social Responsibility. Emerging areas- Neuro Marketing , Sensory Marketing- concepts only.
Assignment: Contemporary Indian Marketing Environment
Connecting with consumers and consumer in sighting, Factors influencing Consumer Behaviour, Consumer characteristics influencing buying behaviour- personal factors and cultural factors. Consumer Buying Decision Process, Buying Roles, Buying Motives. The black box model of consumer behaviour. Psychological Processes underlying consumer behaviour.
Market Segmentation: Concept of Market Segmentation, Benefits, Requisites of Effective Segmentation, Bases for Segmenting Consumer Markets, Market Segmentation Strategies. Segmentation method – Geographic segmentation and Demographic segmentation, psychographic segmentation, behavioural segmentation, volume segmentation, deep segmentation. Indian Consumer- Features about consumer India, Classifying Indian consumer by Income B2B marketing Vs Consumer Marketing.
Assignment- Live projects on Consumer Behaviour.
Product Management- fundamentals, primary objective of product management, product hierarchy, product line, product mix, product mix strategies, Appraisal of product lines, products and brands. Managing PLC of product/brand, New Product Development, packing as a marketing tool, Role of labelling in packing. Main tasks in product management. Components of Product personality. Brand- selecting brand name, selecting logo, brand extension- effects. Introducing new product, innovations, new product development, stages in new product development, pricing strategy for new product. Branding - Concept of Branding, Types, Brand Equity, Branding strategies.Services Marketing & its Characteristics- tasks involved in service marketing, differentiating, positioning and brand building in services, premiumisation in service marketing.Market Segmentation, Targeting & Positioning (STP): Targeting - Bases for identifying target Customer target Marketing strategies, Positioning - Meaning, Product Differentiation Strategies, Tasks involved in Positioning. Monitoring brands performance and positioning.
Pricing decisions:
Significance of pricing, factor influencing pricing (Internal factor and External factor), objectives, Pricing Strategies-Value based, Cost based, Market based, Competitor based, Pricing Procedure.
Marketing Channels:
Roles and purpose of Marketing Channels, Factors Affecting Channel Choice, Channel Design, Channel Management Decision, Channel Conflict, Designing a physical Distribution System, Network Marketing. Contemporary Channels and Retailing in India.Product Distribution Logistics: Product distribution Concept. Distinction between distribution logistics and Supply Chain Management..
Concept and scope of direct marketing, concept and components of digital marketing. Digital marketing communications, digital marketing in India.
Promotions- Marketing communications- Integrated Marketing Communications (IMC)-communication objectives, steps in developing effective communication, Stages in designing message. Advertising: Advertising Objectives, Advertising Budget, Advertising Copy, AIDA model, Traditional Vs Modern Media- Online and Mobile Advertising, Social Media for Advertising. Customer Relationship Management- components. Significance of Marketing Research- importance of data.
Sales Promotion:
Tools and Techniques of sales promotion, Push-pull strategies of promotion. Personal selling: Steps/process involved in Personal Selling. Publicity/Public Relation-word of mouth, sponsorships. Database marketing: Basic concepts of e-commerce, e-marketing, m-Commerce, m-marketing, e-networking, CRM, MkIS.
Marketing Planning: Meaning, Steps involved in Marketing planning. Marketing Audit- Meaning, components of Marketing Audit. Market Share analysis, Marketing cost analysis, Marketing Strategic Planning Process.
Concept of Rural Marketing:
Flumist (HBR) and Saffola Journey- Case Studies Classroom Exercise: Brand Communication (create and enact a commercial)
Course outcomes:
At the end of the course the student will be able to:
1. Develop an ability to assess the impact of the environment on marketing function.
2. To formulate marketing strategies that incorporate psychological and sociological factors which influence buying .
3. Understand concept of Branding, development of product and significance of market segmentation , targeting and positioning.
4. Identifying marketing channels and the concept of product distribution.
5. Identifying techniques of sales promotion , significance of marketing research.
6. Synthesize ideas into a viable marketing plan for various modes of marketing
Practical Components:
Question paper pattern:
Textbooks
1 Marketing Management- Indian Context, Global Perspective. Ramaswamy & Namakumari SAGE 6th Edition
2 Marketing Management: A South Asian Perspective. Kotler, Keller, Koshy & Jha Pearson Education Latest edition
3 New Product Management Merle Crawford and Anthony Di Benedetto McGraw-Hill Latest Editon
4 Advertisement Brands & Consumer Behaviour Ramesh Kumar Sage Publications 2020
Reference Books
1 Marketing in India: Text and Cases Neelamegham S Vikas Latest edition
2 Marketing Lamb, Hair, Mc Danniel Cengage Learning Latest edition
3 Fundamentals of Marketing Management, Etzel M J BJ Walker & William J Stanton Tata Macgraw Hill Latest edition