Bal Bharati’s MJP College MARKETING (SEM-V) Dr. Vinod H.

Kamble

MODULE-1 INTRODUCTION TO MARKETING

Definition of Marketing Importance of Marketing Functions of Marketing

“Marketing management as the (B3 C3, E3, O2) 1) Marketing Research
art and science of choosing target 1) Brand Image 2) Product Design
markets and getting, keeping and 2) Brand Loyalty 3) Branding
growing customers through 3) Benefit to stakeholders 4) Pricing
creating, delivering and 4) Customer satisfaction 5) Promotion
communicating superior customer 5) Corporate Image  Advertising
value.” – Philip Kotler 6) Competitive Advantage  Sales Promotion
7) Economies of Scale  Salesmanship
Features of Marketing 8) Efficiency 6) Physical Distribution
1) Systematic Process 9) Expansion of Business 7) After-Sales-Service
2) Ideas, Goods and Services 10) Organizational Objectives 8) Customer Relationship
3) Target Market 11) Optimum use of Resources Management (CRM)
4) All Pervasive 9) Marketing Information
System (MIS)
Evolution of Marketing Concept Traditional Marketing Strategic Marketing
1) The Exchange Concept: Customers will accept 1. Meaning: SM believes in maximizing
products of any quality available in the market. TM focused on maximizing profit of the marketer by
2) The Production Concept: Customer will prefer profit at any cost for the satisfying customers.
those products that are widely available and are of market.
lower price 2. Marketing Research:
3) The Product Concept: Customers will prefer Hardly invest Lot of emphasis
those products that offer higher quality and
performance. 3. Product Quality :
Hardly emphasis on R&D to Lot of emphasis on R&D to
4) The Selling Concept: Customers will prefer
improve product quality improve product quality
those products which are aggressively promoted.
5) The Marketing Concept: The success of 4. Pricing Methods : Market oriented methods
organization largely depends on customer Cost oriented methods like like going-rate pricing,
satisfaction cost-plus, mark-up pricing etc. differential pricing etc.
6) The Societal Concept: Society’s Welfare +
5. Promotion mix : Integrated promotion-mix like
Customer Satisfaction + Company’s Profits. publicity, advertising, sales
Few elements like advertising,
7) The Relationship Marketing Concept: It sales promotion, salesmanship promotion, salesmanship,
involves creating, maintaining and enhancing etc. public relations etc.
profitable and long term relationship with all
stakeholders. 6. After-sales-service:
8) The Holistic Concept of Marketing: It consists Ineffective Effective
of four elements 7. Customer Relationship
 Integrated Marketing Management (CRM):
 Internal Marketing May not be maintained Maintained
 Relationship Marketing
8. Marketing Information
 Performance Marketing
System (MIS):
Not undertaken Undertaken

9. Objectives:
Economic Objectives Economic as well as social
objectives
MARKETING RESEARCH MARKETINGMARKETING
INFORMATION
RESEARCH
DATA MINING
The American Marketing Association SYSTEM (MIS) “The systematic gathering,It recording
refers to the process used to
defines “The systematic gathering, and analyzing of data about problems
extract usable data from a large
“Marketing information system consists
recording and analyzing of data about relating to marketing of set
goods anddata. It is used to turn
of raw
of people, equipment, and procedures to
problems relating to marketing of goods services.” - American raw Marketing
data into useful information.
gather, sort, analyse, evaluate and
and services.” Association
distribute needed, timely and accurate
Features information to marketing decision Features
Features
1) Systematic Process makers.” - Philip Kotler
1) Systematic Process 1) Customer Loyalty
2) Specific in Nature 2) Corporate Image
2) Specific in nature
Components 3) Competitive Advantage
3) Scope 3) Scope 4) Customer Relationship
4) Applied Research 1) Internal Company Records
4) Applied research 5) Introduce Product
5) Continuous in Nature 2) Marketing Intelligence System
5) Continuous in nature 6) Pricing of product
6) Company Objectives 3) Marketing Research
6) Company objectives 7) Promotion-Mix
7) Cost-Effective 4) Marketing Decision Support System 8) Distribution Strategies

CONSUMER BEHAVIOUR MARKET SEGMENTATION CUSTOMER

“Consumer behaviour as the actions and “Market segmentation is a process of RELATIONSHIP
decisions processes of people who identifying groups of buyers with MANAGEMENT (CRM)
purchase goods and services for person different desires or requirements.” –
consumption.” – Engle, Blackwell and Philip Kotler “CRM is concerned with
Mansard managing detailed information
about individual customers and all
Importance of Market Segmentation
Factors Influencing customer ‘touch point’ to
1) Product Development
1) Marketing Factors maximize customer loyalty. –
2) Pricing of Products
●Product Philip Kotler & Gary
3) Promotional-Mix
●Price Armstrong
4) Distribution Strategies
●Promotion
●Place 5) Market Opportunities Techniques of CRM
2) Personal Factors 6) Media Selection
1) Data Warehousing and
●Age 7) Timing of Marketing Efforts
Data Mining
●Gender 8) Better Services to customer 2) Loyalty Programmes
●Education
3) Priority Customer
●Income
BASES OF MARKET SEGMENTATION Programmes
3) Psychological Factors 4) One-to-one Marketing
●Learning 1) Geographic Segmentation 5) After-Sales Service
●Attitude ●Locality ●Urban/Rural 6) Customer Service Agents
●Motive ●Region ●Nations 7) Satisfaction Survey
●Purpose 2) Demographic Segmentation 8) Suggestion Scheme
4) Situational Influences ●Age ● Gender
● Physical Surrounding ●Income ● Education MARKET TARGETING
●Social Surrounding 3) Sociographic Segmentation Market targeting is a process of
●Time Factor ●Culture selecting the target market from
●Momentary Conditions ●Reference Groups the entire market area.
5) Social Factors 4) Psychographic Segmentation
1) Single Segment
●Family ●Life Style ● Attitude
●Personality Concentration
●Reference Group
● Roles and Status 5) Behavioural Segmentation 2) Selective Specialization
6) Cultural Factors ●Usage Rate ● User Status 3) Product Specialization
●Buying Motives 4) Market Specialization
● Religion
●Sub-cultures 5) Full Market Coverage
 MODULE-2 MARKETING DECISIONS-I

Marketing Mix Product Decision Area Branding

“The basis of marketing 1) Product Quality Components BRAND EQUITY
operations is the co- 2) Product Name (Brand) 1) Brand Association Brand equity means the
ordination of four key 3) Product Shape 2) Brand Benefits value of brand in the market.
variables, namely: product,
4) Product Size It is the value and strength of
3) Brand Equity
price, place and promotion.” the brand that decides its
5) Product Colour 4) Brand Features
– E. Jerome McCarthy worth. It is a qualitative
6) Number of Products 5) Brand Functions
measure of the brand’s
Components / Elements of 7) Product Warranty 6) Brand Image
positive recognition or
Marketing Mix 8) Allied Services 7) Brand Logo goodwill in the minds of the
1) Product 9) Product Pricing 8) Brand Name consumers.
2) Price 10) Product Labeling 9) Brand Personality
3) Promotion
11) Product Packaging 10) Brand Packaging
4) Place
12) Product Positioning

Brand Equity – Factors Influencing Essentials of a Good Package Product Positioning Strategy
1) Brand Name Awareness 1) Attractive 1) Benefits of Product
2) Brand Association 2) Buyer’s Specification 2) Corporate Image
3) Brand Ambassadors 3) Convenience to Customers 3) Competitors
4) After-Sales-Service 4) Convenience to Dealers 4) Emotions
5) Brand Logo 5) Conform to Standards 5) Features of Product
6) Brand Loyalty 6) Dependable 6) Highlighting Social Issues
7) Brand Patent 7) Ease in Identification 7) Use of Product
8) Perceived quality of brand 8) Ease in Displaying 8) Price and Quality
9) Economy
10) Re-Use Value
Management of Product Life Cycle Stages

I- AT THE II-AT THE III-AT THE IV-AT THE

INTRODUCTION STAGE GROWTH STAGE MATURITY STAGE DECLINE STAGE

Sales Low Increase rapidly Slowdown growth 

Profits Low or at times negative Higher profits drops 
Product Firm Concentrate on Single Product Improvement Product Modification Withdrawal of Weaker
Strategy product and invest more in and Introduction of in features, quality, Brand, Introduction of
R&D New products design etc. New Product and Wait
& Watch Strategy
Pricing Skimming or Penetration Reduce the price due to Penetration Pricing Maintain same price
Strategy Pricing economies of scale
Promotion High Promotional Push & Pull Promotion Push & Pull Reduce promotional
Strategy expenses Promotion expenditures
Distribution Concentrated or Mass New Market Focus on Profitable Focus on Profitable
Strategy Distribution strategy Segmentation and Segments and Segments and
Increase in Distribution important channel of important channel of
Coverage distribution distribution
Pricing Objectives Pricing – Factors Influencing Pricing Strategies
1) Survival 1) Skimming Pricing
2) Sales Objectives 2) Penetration Pricing
3) Profit Objectives INTERNAL FACTORS EXTERNAL 3) Probe Pricing
4) Customer Satisfaction FACTORS 4) Trial Pricing
5) Social Responsibility 5) Differential Pricing for
6) Competitive-Effect - Costs - Competition Different Markets
7) Image Differentiation - Corporate Image - Consumer 6) Flexible Price
8) Early Cash Recovery - Objective of Firm - Demand 7) Standard Pricing
9) Market Entry Barrier - Product - Economic Conditions 8) Differential Trade
- Product Life Cycle - Financial Incentives Margins Pricing
9) Transfer Pricing
10) Follow the Leader
Pricing

MODULE-3 MARKETING DECISIONS-II

Promotion Elements of Promotion- Integrated Marketing

“as the element in an organization’s marketing Mix Communication (IMC)
mix that is used to inform, persuade and remind 1) Advertising “as the element in an organization’s
the market regarding the organization and/or its marketing mix that is used to inform,
products.” – William Stanton 2) Publicity
persuade and remind the market
3) Sales Promotion / regarding the organization and/or its
Importance of Promotion Personal Selling products.”– William Stanton
1) Awareness 4) Salesmanship
2) Attitude 5) Sponsorship Elements/Components of IMC
3) Brand Loyalty 6) Packaging Answer same as “Elements of
4) Brand Image Promotion-Mix”
7) Public Relations
5) Corporate Image
6) Counter Competitor’s Claims 8) Direct Marketing
7) Educating the Customers 9) Trade Fairs & Importance of IMC
8) Expansion of Markets Exhibitions Answer same as “Importance of
9) Provides Information promotion mix”
10) Persuasion
Sales Management Emerging Trends in Personal Selling Skills for Effective
Sales management refers to Selling Personal selling is also Selling
the management of a firm’s 1) Technology savvy known as face-to-face selling 1) Communication
sales operations. The in which a salesperson
ultimate goal of sales sales people 2) Interpersonal
2) Social selling convinces the buying in a 3) Mental Qualities
management is to attain sales
objectives of a company. 3) Team selling product. 4) Knowledge of
approach Process of PS product and company
Components of SM
4) Managing multi- 1) Prospecting 5) Physical Qualities
1) Sales Planning
channels 2) Qualifying a Prospect 6) Patience
2) Sales Team Structure 5) Sales Force Diversity
3) Recruitment & Selection 3) Pre-Approach 7) Determination
6) Sales robots and 8) Hardworking
4) Training of Sales people 4) Approach
artificial intelligence 5) Presentation & Demonstration 9)
5) Compensating sales people
7) Outsourcing sales 6) Overcoming Objections
6) Motivating Sales people
function
7) Evaluating sales 7) Closing the Sales
8) Video prospecting
operations 8) Follow-up
8) Control
Physical Distribution Distribution Channels Contemporary Distribution Channels
It is a process of effectively “A channel of distribution is the 1) Horizontal Marketing Channel (HMS)
delivering the product to the route taken by the title to the 2) Vertical Marketing Channel (VMS)
customers in proper condition product as it moves from the 3) Third Party Delivery Channel
and on time. producer to the ultimate customer 4) Multi-Channel Marketing
or industrial user.” -William Stanton 5) Multi-level Marketing
Factors Influencing Physical
Distribution Types of Distribution Channels
1) Customer Characteristics 1) M – C (Direct COD)
2) Product Characteristics 2) M – A – W – R – C
3) Company Profile 3) M – A – R – C
4) Competitors’ Strategy
4) M – W – R – C
5) Area Coverage
5) M – W – C
6) Economic Conditions
6) M – R – C
7) Technological Factors
8) Size of order 7) M – Canalising Agency – C
9) Channel objectives 8) M – Cooperatives – Dealers - C

MODULE-4 KEY MARKETING DECISIONS

Unethical Practices in General Roles of Consumer Marketing strategies for Market

Marketing Organization Leader
1) Targeting Children 1) Creating Consumer Awareness 1) Expand Total Market Strategy
2) Unhealthy Products 2) Quality tests 2) Defending Market share Strategy
3) Unethical pricing 3) Legal Assistance a) Position Defense
4) Unethical Promotion 4) Organizing protests b) Flank Defense
5) Recommendations to Govt. c) Pre-Emptive/Preventive Defense
5) Celebrity Endorsement
6) Resolve Customer Complaints d) Counter Offensive Defense
6) Artificial Shortage
7) Publishing Information e) Mobile Defense
7) Product counterfeiting
8) Assisting Educational Institutions f) Contraction Defense
8) Privacy concern
3) Expanding Market Share Strategy
9) Degrade rival products
Marketing strategies for Marketing strategies for Market Marketing strategies for Niche
Market Challenger Follower Marketer
1) Frontal Attack 1) Counterfeiter or Fraudster 1) Geographic Specialist
2) Flank Attack 2) Cloner or Emulator 2) Product Specialist
3) Service Specialist
3) Encircled Attach 3) Imitator
4) Channel Specialist
4) Bypass Attack 4) Adaptor
5) Quality/Price Specialist
5) Guerrilla Warfare 6) End-user specialist
7) Job-Shop Specialist
Features of Indian Rural Strategies for Effective Rural Trends in Digital Marketing
Market Marketing 1) Social Media Marketing
1) Huge and Scattered Market 1) Product Strategy 2) Search Engine Optimization
2) Size of Rural Demand 2) Packaging Strategy 3) Pay-Per-Click (PPC)
3) Consumer behaviour in Rural 3) Pricing Strategy 4) Affiliated Marketing
Areas 4) Promotion Strategy 5) Mobile Marketing
4) Mode of Payment
5) Distribution Strategy 6) Artificial Intelligence (AI)
5) Awareness
6) Sales-force Management 7) Chat Boxes
6) Rural Income
7) Lifestyles 8) Live Video
8) Literacy Rate
Green Marketing – Challenges faced by Marketing Careers in Marketing
Importance Managers in 21st century 1) Advertising Manager
1) Protection of Environment 1) Challenges of global market 2) Public Relations
2) Public Health 2) Compressed Product Life Cycle 3) Marketing Research
3) Corporate Image 3) Competition 4) Sales Promotion Managers
4) Competitive Advantage 4) Increasing customer awareness 5) Brand Managers
5) Less Govt. Control 5) Technology boom 6) CRM Managers
6) Social Responsibility 6) Social media 7) Product Development Manager
7) Social and ethical issues in marketing 8) Sales Managers
7) Benefit to Consumers
8) New marketing skills 9) After-sales-service managers
Skill sets required for Effective Factors contributing to the success of Reasons for failure of brands in
Marketing Brands in India with examples India
1) Communication 1) Quality 1) Poor Product
2) Creativity 2) Wide range of products 2) High Price
3) Stress Management 3) Innovativeness 3) Increase in competition
4) IT skills 4) Reasonable Price 4) Irrelevancy
5) Interpersonal skills 5) Creative advertising campaigns 5) Imitation brands
6) Problem solving skills 6) Uniqueness 6) Management issues
7) Decision making 7) First mover advantage 7) Wrong Target Audience
8) Consistency 8) Lack of customer response