Marketing Management Module I

Unit 1 – Fundamentals of Marketing Marketing Concept and Orientation, Marketing Tasks, Marketing in
the Modern Context and Strategic Planning.

Unit 2 – Marketing Environment and Marketing System Economic Forces, Technological Factors, Social-
Cultural Factors, Demographic Factors, Political Legal Environment, Competitive Environment, Country
Analysis and marketing systems.

Module II

Unit 3 – Marketing Planning and Control Marketing Planning, Marketing Process and Implementation
and Control.

Unit 4 – Organizing for Marketing Organization of Marketing Activities.

Module III

Unit 5 – Marketing Information An Overview of Marketing Information, Marketing Research Approaches,

Types of Marketing Research and Stages in the Marketing Research Process

Unit 6 – Consumer Behaviour The Buyer, The Buying Process, The Buying Situation, Determinants of
Consumer Behaviour, Customer Loyalty and Profitability, Emotional Engagement with Customers,
Customer Relationship Management and Relationship Marketing.

Module IV

Unit 7 – Segmentation and Targeting Segmentation, Segmentation and Market Entry, Evaluating Market
Segments and Target Market Selection, Target Marketing and Target Market Strategies.

Unit 8 – Overview of Product Management Classification of Products, Product Mix, Positioning,

Differentiation, New Product Development, Adoption Process, Product Life Cycles (PLC) and Strategies,
Branding, Pricing Objectives, Pricing Methods, Pricing Strategies, Channel Design and Channel
Management Decisions, Promotion Mix, Advertising, Public Relations, Sales Promotion and Sales Force
Marketing.

Fundamentals of Marketing:

1. Marketing Concept and Orientation:

 Marketing Concept: Focuses on identifying and satisfying customer needs and wants more
effectively than competitors, thereby achieving organizational goals.
 Customer Orientation: Recognizes the importance of understanding and meeting the needs
of target customers to create value and build long-term relationships.
 Market Orientation: Involves continuously gathering and analyzing market information to
adapt products, services, and strategies to changing customer needs and competitive
dynamics.

2. Marketing Tasks:

 Market Research: Gathering, analyzing, and interpreting information about market trends,
customer preferences, and competitor strategies to make informed decisions.
 Product Development: Creating and enhancing products or services that meet customer
needs and differentiate the offering from competitors.
 Pricing Strategy: Determining the appropriate pricing strategy based on factors such as cost,
competition, and perceived value to customers.
 Promotion and Communication: Developing and implementing promotional campaigns to
raise awareness, generate interest, and persuade customers to purchase.
  Distribution and Channel Management: Designing and managing distribution channels to
ensure products reach customers efficiently and effectively.
 Customer Relationship Management (CRM): Building and maintaining strong relationships
with customers through personalized interactions and value-added services.

3. Marketing in the Modern Context:

 Digital Marketing: Leveraging digital channels such as websites, social media, email, and
search engines to reach and engage target audiences.
 Content Marketing: Creating and distributing valuable, relevant content to attract and retain
a clearly defined audience and drive profitable customer action.
 Social Responsibility and Sustainability: Incorporating ethical and sustainable practices
into marketing strategies to address social and environmental concerns and build trust with
stakeholders.
 Globalization: Adapting marketing strategies to diverse cultural, economic, and regulatory
environments to succeed in international markets.
 Data Analytics: Using data-driven insights to optimize marketing performance, improve
decision-making, and enhance customer experiences.

4. Strategic Planning:

 Mission and Vision: Defining the organization's purpose, values, and long-term aspirations to
guide strategic decision-making.
 SWOT Analysis: Assessing internal strengths and weaknesses, as well as external
opportunities and threats, to identify strategic priorities and challenges.
 Market Segmentation and Targeting: Dividing the market into distinct segments based on
characteristics such as demographics, behavior, and needs, and selecting the most attractive
segments to focus on.
 Positioning Strategy: Developing a clear and distinctive positioning in the minds of target
customers relative to competitors, based on factors such as product attributes, price, and
brand image.
 Marketing Mix (4Ps or 7Ps): Crafting a coordinated mix of product, price, place, and
promotion (and people, process, physical evidence for services) to deliver value to target
customers and achieve marketing objectives.
 Implementation and Control: Executing marketing plans effectively and monitoring
performance against objectives, adjusting strategies as needed to achieve desired outcomes.

Marketing Environment:

1. Economic Forces:

 Economic Conditions: Factors such as GDP growth, inflation, unemployment, and interest
rates influence consumer spending patterns, business investment, and market demand.

 Income Distribution: Disparities in income distribution affect purchasing power and market
segmentation, influencing demand for different products and services.

 Global Economic Trends: Globalization, trade policies, and economic integration impact
market access, competition, and business opportunities across borders.

2. Technological Factors:

 Innovation and Disruption: Advances in technology drive innovation and disrupt traditional
business models, creating opportunities for new products, services, and markets.

 Digital Transformation: Adoption of digital technologies such as AI, IoT, and blockchain
revolutionize marketing strategies, customer engagement, and supply chain management.

 E-commerce and Online Platforms: Growth of e-commerce platforms and online

marketplaces reshape consumer behavior, distribution channels, and marketing channels.
3. Social-Cultural Factors:

 Cultural Values and Norms: Cultural differences influence consumer preferences, attitudes,
and buying behavior, requiring marketers to adapt products and messages to local cultures.

 Social Trends and Lifestyle Changes: Shifts in demographics, lifestyles, and values impact
consumer needs, preferences, and demand for products and services.

 Social Responsibility and Ethics: Increasing awareness of social and environmental issues
shapes consumer perceptions and brand reputation, driving demand for sustainable and
ethical products.

4. Demographic Factors:

 Population Trends: Aging populations, urbanization, and migration patterns influence market
size, demographics, and demand for specific products and services.

 Generational Differences: Understanding generational cohorts such as Baby Boomers, Gen

X, Millennials, and Gen Z helps marketers tailor products and messages to different age
groups.

5. Political-Legal Environment:

 Regulatory Compliance: Laws and regulations governing product safety, advertising,

consumer protection, and competition impact marketing practices and industry standards.

 Political Stability: Political stability and government policies affect business confidence,
investment decisions, and market entry strategies in domestic and international markets.

 Trade Policies and Tariffs: Changes in trade policies, tariffs, and international agreements
influence market access, supply chains, and competitive dynamics.

6. Competitive Environment:

 Industry Analysis: Assessing competitive rivalry, threat of new entrants, bargaining power of
buyers and suppliers, and threat of substitutes helps marketers identify strategic opportunities
and challenges.

 Competitive Intelligence: Gathering information about competitors' strengths, weaknesses,

strategies, and market positions informs marketing strategies and supports decision-making.

7. Country Analysis:

 Market Assessment: Evaluating market size, growth potential, customer segments, and
distribution channels helps identify attractive market opportunities and prioritize market entry
strategies.

 Cultural and Regulatory Differences: Understanding cultural norms, language barriers, and
legal requirements in foreign markets informs adaptation of marketing strategies and
operations.

 Risk Analysis: Assessing political, economic, legal, and social risks helps mitigate
uncertainties and develop contingency plans for international expansion.

8. Marketing Systems:

 Distribution Channels: Mapping distribution channels and understanding intermediaries'

roles and functions optimize product availability and reach in target markets.

 Supply Chain Management: Managing the flow of goods, information, and finances across
the supply chain ensures efficient operations and customer satisfaction.
 Marketing Communications: Integrated marketing communications (IMC) coordinate various
promotional activities to deliver consistent and compelling messages to target audiences
across multiple channels.