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The objective of the course is to have the basic concepts of Marketing which is one of the important areas of functional management. This is a pre-requisite for taking up any elective paper in 3rd and 4th semester in the stream of Marketing.
1. Introduction to Marketing: Needs, Wants, Demands, Products, Exchange, Transactions, Market, Marketing, Production Concept, Product Concept, Sales Concept, Marketing Concept, Societal Marketing Concept, Indian Marketing Environment.
2. Demand analysis: The Major Concepts in Demand Measurement, the Components of Modern Marketing Information System, the Marketing Intelligence system, Marketing decision system, Forecasting and Demand Measurement.
3. Market Segmentation and Targeting: Identification of Market Segments, - Consumer and Institutional/corporate Clientele - Segmenting Consumer Markets, Segmentation Basis, Selecting Target Markets, Segmentation and Targeting as a Basis for Strategy Formulation. Developing and Communicating a Positioning Strategy.
4. Product Management: Product Life Cycle, PLC as a tool for Marketing Strategy, Constituents of a Product, , Core Product, Augmented Product, Differentiated Products, Potential Product, Product Line, Product Mix , Product-line decisions, Brand decisions, classification of new products, New Product Development, Idea Generation, Idea Screening, Concept Testing, Business Analysis, Market Testing, Commercialization.
5. Pricing Strategy: Objectives of Pricing, Methods of Pricing, Selecting the final price, Adopting price, initiating the price cuts, imitating price increases, Responding to Competitor’s price changes.
6. Sales and Distribution Management: Sales Techniques for Consumer/Industrial clientele-Channel Function and Flows, Channel Levels, Channel Management Decisions, types of retailers, trends in retailing, The growth and trends in Wholesaling. Sales force and sales Agency- Advantages and disadvantages.
7. Marketing Communication: the communication process , Communication mix, Managing advertising sales promotion , Public relations and Direct Marketing. Sales force Objectives, Sales force structure and size, Sales force Compensation.
8. Marketing Organisation and Control: Evolution of Marketing Department, Organizing the Marketing Department, Marketing Implementation, Control of Marketing Performance, Annual Plan Control, Profitability Control, Efficiency Control, Strategic Control.
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