SYLLABUS: MARKETING MANAGEMENT

Unit I Nature and Scope of Marketing, Selling v/s Marketing, Basic concepts and
approaches. Marketing Management Philosophies. Concepts of Holistic
Marketing.
Unit II Market Segmentation, Targeting and Positioning, Marketing Mix,
Marketing Environment, Marketing System, Marketing Information System and
Marketing Research.
Unit III Product strategy, Product classification and product mix, Branding and
Packaging decision, Integrated marketing communication. Promotion mix:
advertising, publicity, selling, sales promotion and public relations.
Unit IV Pricing decision, Methods of setting prices, Pricing strategies, Product
promotion. Consumer behaviour and decision making.
Unit V Channels of Distribution, Factors affecting choice of channel, Types of
intermediaries and their roles. Types of Retailing. Retail Management, Internet
Marketing, Service and Non Profit Marketing
 REFERENCE BOOKS

 MARKETING MANAGEMENT by Philip Kotler,

 PRINCIPLES OF MARKETING by R L Nolakha,
 MODERN MARKETING by R S N Pillai & Bagavathi,
 MARKETING MANAGEMENT by Dr C N Sontakki,
 PRINCIPLES OF MARKETING by Kazmi S H H & Mahajan J P,
 MARKETING MANAGEMENT by Dutta Bholanath,
 MARKETING MANAGEMENT by Panda Tapan K,
 MARKETING MANAGEMENT by Rajan Saxena
 KEY TERMS

 MARKET, MARKETING, CUSTOMER, CONSUMER,

NEEDS, WANTS, DEMAND, CUSTOMER SATISFACTION,
CONSUMER DELIGHT, PRODUCT, PRICE, PLACE,
PROMOTION, ADVERTISING, SELLING,
SEGMENTATION, TARGETTING, POSITIONING,
INTEGRATED MARKETING, CONSUMERISM,
CONSUMER MOTIVATION, RETAILING
 MARKET SEGMENTATION
 Market segmentation is the process of dividing a market of
potential customers into groups, or segments, based on
different characteristics.
 The segments created are composed of consumers who will
respond similarly to marketing strategies and who share
traits such as similar interests, needs, or locations.
 Market segmentation is the research that determines how
your organization divides its customers or cohort into
smaller groups based on characteristics such as, age,
income, personality traits or behavior.
 These segments can later be used to optimize products and
advertising to different customers.
 WHAT IS GEOGRAPHIC SEGMENTATION?

 Geographic segmentation is when a business divides its

market on the basis of geography. There are several ways that a
market can be geographically segmented. You can divide your
market by geographical areas, such as by city, county, state,
region, (like the West Coast), country, or international region, (like
Asia). You can also divide the market into rural, suburban, and
urban market segments. And, you can segment a market by
climate or total population in each area.
 ADVANTAGES OF GEOGRAPHIC SEGMENTATION

• It's an effective approach for companies with large national or international

markets because different consumers in different regions have different
needs, wants, and cultural characteristics that can be specifically targeted.
• It can also be an effective approach for small businesses with limited
budgets. They can focus on their defined area and not expend needless
marketing dollars on approaches ill-suited for their target geographic
segment.
• It works well in different areas of population density. Consumers in an
urban environment often have different needs and wants than people in
suburban and rural environments. There are even cultural differences
between these three areas.
• It's relatively easy to break your market down to geographic segments.
 WHAT IS DEMOGRAPHIC SEGMENTATION?

 Demographic segmentation is a type of market segmentation that

takes into account basic demographics to group and segment users.
These demographics primarily focus on subjects such as age, sex,
education level, marital status, social status, income, occupation, and
nationality.
 Brands and marketers use demographic segmentation to focus and
streamline their resources effectively, whilst also getting to know their
current and prospective consumers better. Demographic segmentation
tends to be one of the first stops when brands begin to segment their
users. And this is because demographics offer some of the most
common and easy to interpret statistics that can be used to group
entire populations.
 ADVANTAGES OF DEMOGRAPHIC
SEGMENTATION

 Data is easy to obtain

 Straightforward targeting and analysis
 Cost-effective
 Easy to measure
 Ideal for monitoring trends and social shifts
 DISADVANTAGES OF DEMOGRAPHIC SEGMENTATION

Based on assumptions
Demographic data is too vague
Alienates people
Misinterpreting data
Every year there is change in age, income, marital
status, education level etc.
 WHAT IS PSYCHOGRAPHIC SEGMENTATION?

Psychographic segmentation is the process of creating clusters of customers who share

similar characteristics and then grouping them together. These clusters will form subsets
(or segments) of customers based on their:
 Social class
 Lifestyle
 Interests
 Values
 Personality
 Social status
 Religion
 Opinions
 Attitudes
 ADVANTAGES OF PSYCHOGRAPHIC SEGMENTATION

1.Creates better understanding of the consumers: Psychographic

segmentation helps to build a more holistic picture of consumers when
used in conjunction with other forms of market segmentation.
2. Reveals hidden attitudes: It uncovers unseen motivations and
attitudes behind buyer decisions.
3. Allows for more targeted messaging: Creating psychographic
segments enables clearer, more targeted messaging as “fuller” insights
into consumers’ lives are uncovered.
4. Creates opportunity for product repositioning: Consumer
profiles created through psychographic data can allow businesses to
reposition the same product to various audiences.
 LIMITATIONS OF PSYCHOGRAPHIC SEGMENTATION

1. Complex setup process: Psychographic segmentation is harder to perform than

other types of market segmentation, such as behavioural and demographic because
it requires participation in specific psychographic surveys.
2. Requires clearly defined standards: Clear interpretation standards must be in
place for analysis as psychographic segmentation can be ambiguous and
inconsistent.
3. Relies on assumptions: Developing questions for psychographic surveys can be
difficult, as it is common to be assumptive about the target market.
4. Could be misleading: It is commonly believed that psychographics indicate why
customers buy your products, which is not entirely true. It’s a good indicator but not
necessarily a direct cause.
5. Costly to get insights: Meaningful psychographic segmentation usually requires
both quantitative and qualitative market research methods, which can prove quite
costly.
 WHAT IS BEHAVIORAL SEGMENTATION?

Behavioral segmentation is a form of marketing segmentation that divides

people into different groups who have a specific behavioral pattern in
common. It refers to dividing the target market by what they do, not just
who they are. This category of segmentation studies the behavioral traits
of consumers — their knowledge of, attitude towards, use of, likes/dislikes
of, or response to a product, service, promotion, or brand.
Behavioral segmentation enables marketers to study consumer’s
 attitude toward their product, service, or brand in general
 use of their product or service and response to that service
 overall knowledge of their brand and products
 purchasing tendencies
 PROS & CONS OF BEHAVIOURAL SEGMENTATION

PROS:
 Grouping Customers according to Behavior
 Helpful in Planning
 Ease of Advertising
CONS:
 Dynamic Behaviour of Customers
 It cannot be Measured
 Specialist Job requiring additional expenses
 FIRMOGRAPHIC SEGMENTATION

Firmographic segmentation is the classification of business-to-

business customers based on shared company or organization
attributes. This practice can help guide marketing, advertising,
and sales by providing deeper business insights and ultimately
lead to more focused and effective campaign strategies.
Firmographic segmentation is similar to demographic
segmentation. The difference is that demographics look at
individuals while firmographics look at organizations.
Firmographic segmentation would take into consideration things
like company size, number of employees and would illustrate
how addressing a small business would differ from addressing
an enterprise corporation.
 TARGETING TYPES
 Theme-based targeting: Advertising and information messages
demonstration according to a particular topic.
 Contextual targeting: Message demonstrations according to
users’ interests.
 Geotargeting: Advertising demonstration based on the
geographical location of your target audience
 Behavioral targeting: This is one of the most promising types of
targeting. The essence of behavioral targeting is introducing a
mechanism to collect information about users’ actions: routes of
travel, favorite places to visits, shopping behaviors, etc.
 Sociodemographic targeting: This is a concentration based on
age, gender, income, social status, etc.
 MARKET TARGETING
Targeting, also known as multi-segment marketing, is a marketing strategy
that involves identifying specific personas or markets for specific content.
Companies use target marketing to learn more about their consumers and
thus create advertisements for specified groups to maximize response.
This strategy is much more effective than mass marketing, as it targets
the consumers most likely to interact with the brand or product, based on
a buyer persona. There are many key targets, these are the most common:
 Demographic Targeting
 Geographic Targeting
 Psychographic Targeting
 Behavioural Targeting
 POSITIONING STRATEGIES OR APPROACHES
1) Using Product characteristics or Customer Benefits as a
positioning strategy

2) Pricing as a positioning strategy

3) Positioning strategy based on Use or Application

4) Positioning strategy based on Product Process

5) Positioning strategy based on Product Class

6) Positioning strategy based on Cultural Symbols

7) Positioning strategy based on Competitors