MARKETING FOR CUSTOMER VALUE

Definition Of Market

A market is where buyers and sellers can meet to

facilitate the exchange or transaction of goods and
services.

Definition Of Marketing

The activity or business of promoting and selling

products or services, including market research
and advertising.

Nature Of Marketing

1. Human Activity: Originally, the term marketing is

a human activity under which human needs are
satisfied by human efforts. It’s a human action for
human satisfaction.
2. Consumer-Oriented: A business exists to
satisfy human needs; hence business must find out
what the desire of customer (or consumer) and thereby
produce goods & services as per the needs of the
customer.
3. Art As Well As Science: In the technological
arena, marketing is the art and science of choosing
target markets and satisfying customers through
creating, delivering, and communicating
superior customer value.
4. Exchange Process: All marketing activities
revolve around commercial exchange process. The
exchange process implies transactions between
buyer and seller.
5. Starts And Ends with Customers: Marketing is
consumer oriented and it is crucial to know what
the actual demand of consumer is. This is possible
only when required information related to the goods
and services is collected from the customer.

Scope Of Marketing

1. Products and Services: Products and Service are

the basic element of marketing. If there is no
product there is no marketing.
Marketing Research: Though products and services
were the starting point under traditional marketing,
modern marketing starts with an analysis of the
various aspects of market and related areas.
2. Channel of Distribution: The pathway through
which the goods move from producer to
consumer is the channel of distribution. It includes
a number of intermediaries like wholesaler, retailers,
jobbers etc.
3. Physical Distribution: The physical movement of
the goods from producer to consumer is physical
distribution.
4. Promotional Decisions: Promotion has the basic
objective of informing the market about product
availability and creating a demand for it.
5. Pricing Decisions: This is the only element of
marketing which generates revenue for the firm.

MARKETING CONCEPT/ELEMENTS OF MARKETING

CONCEPT

The Product Concept

 In the product concept, marketers do not give

any importance to the requirements and wants of
the customers. Their central focus is to produce
more and more goods, quantity matters, not
quality.
 The core purpose of the product concept is to
manufacture cheaper products because the
consumers won’t pay much price for the products
or services.

The Production Concept

 It is one of the earliest marketing concepts where
the organization concentrates on the ability of its
production processes. It is to manufacture the
products cheaper to make them ready for the mass
population. The centre of the production concept
is on the quantity, not the quality of the
products.

The Selling Concept

 As the name suggests, the idea of selling is to sell

the company’s product through large-scale
marketing and promotional activities. It doesn’t
matter whether they satisfy customers’ needs or
not.
 The centre of the management in this method is to
finish the transaction of sale; they believe
that their job is done once they market their
product. Therefore, rather than establishing and
maintaining a long-term connection with the
customer, the customer would come back again.

The Marketing Concept

 When it comes to the marketing concept, it is

customer-oriented. It places customers in the
middle of the marketing process, discovering
 customers’ demands and wants, then meeting
those needs better than the competitors.

The Societal Marketing Concept

 The idea behind the societal marketing concept is

based on the welfare of the entire society
because it examines the strategy of the
marketing concept. What consumers need
doesn’t mean that it would be useful for them in the
long term. What you need and what is suitable for
you and society as a whole are two entirely different
things.

EVOLUTION OF MARKETING/APPROACHES OF
MARKETING

Barter System

The goods are exchanged against goods, without any

other medium of exchange, like money.

Production Orientation

This was a stage where producers, instead of being

concerned with the consumer preferences,
concentrated on the mass production of goods for the
purpose of profit. They cared very little about the
customers.

Sales Orientation
The stage witnessed major changes in all the spheres
of economic life. The selling activity becomes the
dominant factor, without any efforts for the satisfaction
of the consumer needs.

Marketing Orientation

Customers’ importance was realized but only as a

means of disposing of goods produced. Competition
became stiffer. Aggressive advertising, personal selling,
large scale sales promotion etc., are used as tools to
boost sales.

Consumer Orientation

Under this stage only such products are brought

forward to the market which are capable of satisfying
the tastes, preferences and expectations of the
consumers.

Management Orientation

The marketing function assumes a managerial role to

coordinate all interacting business activities with the
objective of planning, promoting and distributing want-
satisfying products and services to the present and
potential customers.

MARKETING MIX
Marketing Mix refers to the set of tactical tools and
strategies that a company uses to promote its
products or services to its target customers. It
consists of four main elements, also known as the "4
Ps" of marketing: Product, Price, Promotion, and
Place.

1. Product: This refers to the physical or intangible

goods or services offered by a company. It
includes the features, design, quality, packaging,
branding, and other attributes of the product.

2. Price: This refers to the amount that a customer

pays for the product. It includes factors such as the
cost of production, competition, target market, and
perceived value.

3. Promotion: This refers to the activities that a

company uses to communicate and promote its
products to its target market. It includes
advertising, public relations, sales promotions, personal
selling, and direct marketing.

4. Place: This refers to the distribution channels

through which a company makes its products
available to its customers. It includes factors such
as location, logistics, transportation, and the overall
convenience of the distribution channels.
PRODUCT LINE, PRODUCT DEPTH, AND PRODUCT
WIDTH

In marketing management, product line, product depth,

and product width are important concepts that relate to
the breadth and depth of a company's product
offerings.

1. Product Line: A product line refers to a group or

set of related products that are marketed and
sold under the same brand or product
category. These products may share similar
characteristics, target the same customer segment,
and serve similar purposes.
2. Product Depth: Product depth refers to the
number of variations or different options
available within a specific product line. It
represents the range of choices or models offered
for a particular product category.
3. Product Width: Product width, also known as
product mix, refers to the total number of product
lines a company offers. It represents the breadth or
variety of different product lines within a company's
portfolio.

BOSTON CONSULTING GROUP MATRIX

The B.C.G matrix, also known as the Boston Consulting
Group matrix, is a strategic management tool used
to analyse a company's portfolio of products or
services.

The matrix is based on two factors: market growth

rate and relative market share.

The matrix helps businesses to identify which

products or services are generating the most
revenue and which ones are not performing well.
It also helps companies to allocate resources to their
products or services more effectively.

The B.C.G matrix consists of four categories: -

1. Stars: -
Products or services that have a high market
share in a rapidly growing market. These
products or services are usually profitable and
have the potential to become cash cows in the
future. Companies should invest in these products or
services to maintain or increase their market share.
2. Cash Cows: -
Products or services that have a high market
share in a low-growth market. These products or
services generate a lot of revenue and profit, but
they have limited growth potential. Companies
should maintain their investment in cash cows to
continue generating profits, but they should not invest
heavily in them.
3. Question Marks: -
Products or services that have a low market
share in a rapidly growing market. These
products or services have the potential to
become stars, but they require a lot of
investment to achieve that potential. Companies
should carefully consider whether to invest in question
marks or to discontinue them.
4. DOGS: -
Products or services that have a low market
share in a low-growth market. These products or
services are not profitable and have limited growth
potential. Companies should either discontinue or
divest from dogs.

MARKET SEGMENTATION & BASIS OF

SEGMENTATION

Market segmentation is the process of dividing a

market into smaller groups of consumers with
similar needs or characteristics.

The purpose of segmentation is to identify specific

groups of consumers that a company can target
with a marketing strategy that meets their
unique needs and preferences.

Market Segmentation can help companies to: -

 Identify customer needs and preferences

 Develop targeted marketing strategies
 Improve customer satisfaction and loyalty
 Optimize product development and pricing
 Increase market share and profitability

BASIS OF SEGMENTATION

1. Demographic Segmentation: This segmentation

is based on characteristics such as age, gender,
income, education, family size, and occupation.
2. Geographic Segmentation: This segmentation is
based on factors such as location, climate, and
culture.
3. Psychographic Segmentation: This
segmentation is based on consumers' attitudes,
values, and lifestyles.
4. Behavioural Segmentation: This segmentation
is based on consumers' behaviour patterns, such
as their buying habits, product usage, and brand
loyalty.
5. Occasion Segmentation: This segmentation is
based on specific occasions, such as holidays or
events.
6. Benefit Segmentation: This segmentation is
based on the benefits that consumers seek from a
product or service.

MICRO AND MACRO ENVIRONMENT OF

MARKETING

The marketing environment is the set of external

and internal factors that affect a company's
ability to create and maintain successful
relationships with its customers. These factors can
be divided into two categories: -

 Micro-Environment
  Macro-Environment

MICRO-ENVIRONMENT: -

The micro-environment includes the factors that are

directly related to the company and its
customers. These factors include: -

1. Company: The company itself is a major factor in

the micro-environment. Its mission, vision, values,
and culture all influence the marketing strategy
and customer relationships.
2. Customers: Customers are the most important
factor in the micro-environment. Understanding their
needs, preferences, and behaviour patterns is
essential for creating successful marketing
campaigns.
3. Competitors: Competitors are another important
factor in the micro-environment. Understanding their
strengths and weaknesses can help a company
develop a competitive advantage.
4. Suppliers: Suppliers are the companies that
provide raw materials, components, and other
inputs that a company needs to produce its
products or services.
5. Intermediaries: Intermediaries are the
companies that help a company sell its products
or services to its customers. These can include
retailers, wholesalers, and distributors.

MACRO-ENVIRONMENT: -

The macro-environment includes the factors that are

external to the company and beyond its control. These
factors include: -

1. Political and Legal Factors: Laws,

regulations, and government policies can have a
significant impact on a company's marketing strategy.
2. Economic Factors: Economic conditions, such as
inflation, recession, and unemployment, can affect
consumer spending patterns and the demand for a
company's products or services.
3. Technological Factors: Advances in
technology can create new opportunities for
companies to create and sell products, but they can
also create new challenges and disrupt existing
business models.
4. Socio-cultural Factors: Changes in societal
values, beliefs, and attitudes can affect
consumer behaviour and the demand for certain
products or services.
5. Environmental Factors: Environmental concerns,
such as climate change and sustainability, are
increasingly important factors that companies must
consider in their marketing strategies.

PRICING DECISION IN MARKETING

Pricing is a crucial element in marketing strategy

as it directly impacts the profitability of a
business. Pricing decisions need to be made in a way
that balances the needs of the customers, competition,
and the organization's financial goals.

1. Cost: Pricing decisions should take into account the

cost of producing the product or service, including
the cost of raw materials, manufacturing, labour, and
overheads.
2. Competition: Businesses need to consider the
prices charged by their competitors. Pricing higher
than the competition may be possible if the product or
service is perceived to be of higher value, but pricing
too high may drive customers away.
3. Customer Perception: Customers perceive the
value of a product or service based on a variety
of factors such as quality, convenience, and
status.
4. Target market: Pricing should also consider the
characteristics of the target market, such as their
income level, purchasing power, and willingness
to pay.
5. Profitability: Pricing decisions should be based on
achieving the organization's financial goals, such
as profitability, revenue growth, and market share.
6. Pricing strategy: Businesses can adopt various
pricing strategies such as cost-plus pricing, value-
based pricing, penetration pricing, and skimming
pricing.

PRICING STRATEGIES

Pricing strategies can be implemented to determine the

price of a product or service. The choice of pricing
strategy depends on factors such as the company's
objectives, market conditions, competition, and
customer preferences. Here are some common
pricing strategies:

1. Penetration Pricing: This strategy involves setting

a relatively low price for a product or service to
quickly gain market share.
2. Skimming Pricing: Skimming pricing involves
setting a high initial price for a product or service
when it is introduced to the market.
3. Cost-Based Pricing: Cost-based pricing involves
setting prices based on the costs associated with
producing, distributing, and selling a product or
service.
4. Value-Based Pricing: Value-based pricing focuses
on setting prices based on the perceived value of a
product or service to customers.
5. Competitive Pricing: Competitive pricing involves
setting prices based on the prices charged by
competitors.
6. Bundle Pricing: Bundle pricing involves offering
multiple products or services as a package at a
discounted price compared to purchasing them
individually.
7. Psychological Pricing: Psychological pricing takes
advantage of consumer perceptions and
behavioural biases.
8. Dynamic Pricing: Dynamic pricing involves
adjusting prices in real-time based on factors such
as demand, market conditions, or customer
segmentation.
9. Premium Pricing: Premium pricing involves
setting higher prices to position a product or service
as high-end, exclusive, or of superior quality.
PRODUCT LIFE CYCLE

The product life cycle is a concept in marketing that

describes the stages a product goes through from its
introduction to its eventual decline. The product life
cycle has four stages:

1. Introduction: This is the stage where the product

is first introduced to the market. Sales are typically
low during this stage, as customers are not yet
familiar with the product. The focus of marketing
during this stage is to create awareness and generate
interest in the product.

2. Growth: This is the stage where sales of the

product start to increase rapidly as the product
gains acceptance in the market. Marketing during
this stage focuses on building brand loyalty and gaining
market share.
3. Maturity: This is the stage where sales growth
slows down as the product reaches its peak in
terms of market penetration. During this stage,
marketing efforts focus on maintaining market share
and maximizing profits by differentiating the product
from competitors.

4. Decline: This is the stage where sales of the

product start to decline as the product becomes
obsolete or is replaced by newer products. During
this stage, marketing efforts focus on reducing costs
and phasing out the product.

STEPS IN MARKETING RESEARCH PROCESS

The marketing research process typically involves

several steps to gather, analyse, and interpret
information relevant to making informed
marketing decisions. Here are the general steps in
the marketing research process:

1. Identify The Research Problem: Clearly define

the objective of the research and identify the
specific problem or question that needs to be
addressed. This step helps provide direction and
focus for the entire research process.
2. Conduct A Literature Review: Review existing
literature, studies, and reports related to the
research problem. This step helps gain insights
into previous research, understand relevant theories
and concepts, and identify any existing gaps or
opportunities.

3. Determine The Research Design: Select an

appropriate research design that aligns with
the research objectives and addresses the
research problem. Common research designs
include surveys, experiments, observations,
interviews, and focus groups.

4. Define The Target Audience: Identify the

specific population or segment that needs to
be studied to obtain the desired information.
Define the target audience based on relevant
demographics, characteristics, behaviours, or other
relevant factors.

5. Develop Research Instruments: Create the

tools or instruments necessary to collect data.
This may include questionnaires, interview
guides, observation checklists, or other
measurement tools. Ensure that the instruments
 are reliable, valid, and appropriate for the research
objectives.

6. Collect Data: Implement the research plan and

collect data from the identified target
audience. This may involve conducting surveys,
interviews, observations, or other data
collection methods. Ensure that the data
collection process is properly managed and
executed.

7. Analyse Data: Once the data is collected, it needs

to be organized, cleaned, and analysed. Use
statistical techniques and tools to interpret
the data and draw meaningful conclusions.
This step may involve quantitative analysis,
qualitative analysis, or a combination of both.

8. Interpret and Report Findings: Analyse the

results of the data analysis and interpret the
findings in the context of the research objectives.
Draw conclusions, identify patterns or trends,
and provide actionable insights. Prepare a
comprehensive report or presentation
summarizing the research findings and
recommendations.
9. Implement Findings: Use the research findings
to inform marketing strategies, decision-
making, and other relevant activities. Apply
the insights gained from the research to improve
products, target audiences, promotional campaigns,
pricing strategies, or other marketing elements.

10. Monitor and Evaluate: Continuously monitor

and evaluate the effectiveness and impact of
the implemented strategies or decisions.
Assess whether the research findings are producing
the desired results and make adjustments as
necessary.

TECHNIQUES OF MARKETING CONTROL

Marketing control involves monitoring and

evaluating marketing activities to ensure they are
effectively contributing to the achievement of
marketing objectives. Here are some common
techniques used in marketing control: -

1. Sales Analysis: Sales analysis involves monitoring

sales performance by analysing sales volume,
revenue, market share, and profitability. It
helps identify trends, patterns, and deviations
from expected sales levels, allowing marketers to
make necessary adjustments.
2. Market Share Analysis: Market share analysis
compares a company's sales or market share to
that of its competitors. It provides insights into the
company's competitive position and helps evaluate
the effectiveness of marketing strategies in gaining
or maintaining market share.

3. Customer Satisfaction Surveys: Customer

satisfaction surveys collect feedback from
customers to measure their satisfaction levels
with products, services, or overall brand
experience. This technique helps identify areas for
improvement and gauge the effectiveness of
marketing efforts in meeting customer
expectations.

4. Marketing R.O.I (Return on Investment):

Marketing R.O.I measures the financial return
generated by marketing activities relative to
the investment made. It assesses the profitability
and effectiveness of marketing campaigns, allowing
marketers to allocate resources to the most
productive initiatives.

5. Marketing Dashboards: Marketing dashboards

provide real-time or regular updates on key
marketing metrics and performance indicators.
 They consolidate data from various sources, such as
sales, customer engagement, website analytics, and
social media metrics, to provide a comprehensive
view of marketing performance.

6. Marketing Budget Control: Marketing budget

control involves monitoring and managing
marketing expenditures to ensure they align with
the allocated budget. This technique helps prevent
overspending, track the cost-effectiveness of
marketing initiatives, and make adjustments as
needed.

7. Marketing Performance Metrics: Establishing

and tracking specific marketing performance
metrics enables marketers to assess the
effectiveness of their strategies. Examples of
performance metrics include customer acquisition
cost, conversion rate, customer lifetime value, and
website traffic.

8. Competitive Analysis: Competitive analysis

involves monitoring and evaluating the
activities and strategies of competitors. By
understanding competitors' strengths, weaknesses,
and market positioning, marketers can identify
 opportunities and potential threats to their own
marketing efforts.

9. Marketing Research: Continuous marketing

research provides valuable insights into
consumer behaviour, market trends, and
competitive landscape. It helps marketers stay
updated with market changes, consumer
preferences, and emerging opportunities.

10. Marketing Audits: Marketing audits are

comprehensive evaluations of an
organization's marketing activities,
strategies, and performance. They assess the
alignment of marketing efforts with overall business
objectives, evaluate the effectiveness of marketing
plans, and identify areas for improvement.

TYPES OF RETAILERS

Retailers are businesses that sell products or

services directly to consumers for personal use
or consumption. There are various types of retailers
that cater to different customer needs and preferences.
Here are some common types of retailers: -

1. Department Stores: Department stores are large

retail establishments that offer a wide range
 of products across multiple categories, such
as clothing, accessories, home goods,
electronics, and cosmetics. They typically have
different departments or sections within the store,
each specializing in specific product categories.

2. Supermarkets and Hypermarkets: Supermarkets

are large self-service stores that primarily sell
groceries and household essentials.
Hypermarkets are larger versions of supermarkets
that also include non-food items, such as
electronics, clothing, and home goods.

3. Specialty Stores: Specialty stores focus on a

specific product category or niche market.
They offer a curated selection of merchandise within
their specialized area, catering to customers with
specific interests or needs. Examples include
electronics stores, sporting goods stores,
bookstores, and pet stores.

4. Convenience Stores: Convenience stores, also

known as corner stores or mini-marts, are
small retail outlets that offer a limited range
of everyday items, often with extended
operating hours. They are typically located in
residential areas or high-traffic locations and
 provide convenience and quick access to essential
products.

5. Discount Stores: Discount stores offer products

at lower prices compared to traditional
retailers. They typically sell a variety of
merchandise, including clothing, household goods,
electronics, and groceries.

6. E-commerce Retailers: E-commerce retailers

operate online platforms where customers can
browse and purchase products or services. E-
commerce retailers provide the convenience of
online shopping and often offer home delivery or
pick-up options.

7. Outlet Stores: Outlet stores sell branded

products directly from the manufacturer or a
licensed distributor at discounted prices. They
typically offer merchandise from previous seasons,
overstock items, or factory seconds. Outlet stores
are popular for offering brand-name products at
lower prices.

8. Specialty Chains: Specialty chains are retail

stores that operate multiple locations,
offering a focused range of products within a
specific category or market segment. They
 provide a consistent brand experience across their
stores and cater to customers with specialized
needs or interests. Examples include clothing
chains, electronics chains, and home improvement
chains.

9. Pop-up Stores: Pop-up stores are temporary

retail spaces that open for a short period,
often to promote a product launch, seasonal
sale, or special event. They can be found in
vacant storefronts, shopping malls, or other
temporary spaces. Pop-up stores create a sense of
urgency and exclusivity for customers.

10. Franchise Retailers: Franchise retailers

operate under a franchisor's established
brand and business model. Franchisees run
their own retail outlets while adhering to the
guidelines, processes, and standards set by
the franchisor. This allows for consistent brand
experiences across multiple locations.

TOOLS AND TECHNIQUES FOR SALES PROMOTION

Sales promotion refers to the use of marketing

activities or incentives that aim to stimulate
immediate sales or attract customers to make a
purchase. Here are some common tools and techniques
used in sales promotion: -

1. Coupons: Coupons are vouchers or codes that

provide discounts or special offers to
customers. They can be distributed through
various channels such as print media, online
platforms, mobile apps, or direct mail.

2. Discounts: Discounts involve reducing the

regular price of a product or service for a
specific period. This can be in the form of
percentage discounts, buy-one-get-one-free offers,
seasonal sales, or limited-time promotions.
Discounts create a sense of urgency and incentivize
customers to take advantage of the reduced price.

3. Rebates: Rebates offer a partial refund or

cashback to customers who purchase a
specific product or meet certain criteria.
Customers are required to submit proof of purchase
or fulfil certain conditions to claim the rebate.
Rebates provide an incentive for customers to make
a purchase and can help build customer loyalty.
4. Samples: Providing free samples of a product
allows customers to try it before making a
purchase. They allow customers to experience the
product's quality and benefits, increasing the
likelihood of future purchases.

5. Contests and Sweepstakes: Contests and

sweepstakes engage customers by offering
them a chance to win prizes. These promotions
generate excitement and encourage customers to
engage with the brand.

6. Loyalty Programs: Loyalty programs reward

customers for repeat purchases or brand
loyalty. Customers earn points or rewards based on
their purchases, which can be redeemed for
discounts, free products, exclusive offers, or other
benefits. Loyalty programs encourage customers to
continue buying from the brand and foster long-
term relationships.

7. Bundling: Bundling involves offering two or

more products or services together at a
discounted price. This encourages customers to
purchase more items and can increase the overall
value of their purchase. Bundling can be particularly
 effective when complementary products or services
are combined.

8. Point-of-Purchase Displays: Point-of-purchase

(POP) displays are attractive and eye-catching
displays placed at the point of sale, such as
checkout counters or store aisles. These
displays highlight specific products, promote special
offers, or provide additional information to
encourage impulse purchases.

9. Referral Programs: Referral programs

incentivize customers to refer others to the
business. Customers are rewarded when their
referrals make a purchase or become customers
themselves. This leverages word-of-mouth
marketing and harnesses the power of existing
customers to expand the customer base.

10. Gift with Purchase: Gift with purchase

promotions involve offering customers a free
gift or bonus item when they make a
qualifying purchase. This encourages customers
to spend more or choose specific products to
receive the bonus gift. It can also help introduce
customers to new products.

LEVLES OF CHANNELS
This indicates the number of intermediaries between
the manufactures and consumers.

1. Zero Level Channel: -

Here the goods move directly from producer to

consumer. That is, no intermediary is involved.

This channel is preferred by manufactures of industrial

and consumer durable goods.

2. One Level Channel: -

In this case there will be one sales intermediary i.e.,

retailer.

This is the most common channel in case of consumer

durables such as textiles, shoes, ready-made garments
etc.

3. Two Level Channel: -

This channel option has two intermediaries, namely

wholesaler and retailer.

The companies producing consumer non-durable items

use this level.

4. Three Level Channel: -

This contains three intermediaries. Here goods move

from manufacture to agent to wholesalers to
retailers to consumers.
It is the longest indirect channel option that a company
has.

Marketing channel conflicts refer to

disagreements, disputes, or tensions that arise
among different entities or members within a
marketing channel. Conflicts can occur between
manufacturers, wholesalers, retailers, and other
intermediaries within the channel. These conflicts can
have negative effects on the efficiency, effectiveness,
and profitability of the channel. Here are some common
types of marketing channel conflicts:

1. Vertical Conflicts: Vertical conflicts occur

between different levels of the marketing
channel, such as manufacturers and
wholesalers or wholesalers and retailers.
These conflicts often arise from issues related to
pricing, distribution, territorial rights, or channel
control.
2. Horizontal Conflicts: Horizontal conflicts occur
among entities at the same level within the
marketing channel, such as competing
retailers or competing wholesalers. These
 conflicts typically arise from competition for
customers, market share, or exclusive supplier
relationships.

TYPES OF MARKETING ORGANISATIONAL

STRUCTURE

There are 7 types of marketing organization structures

in the market, they are the following: -

 Functional Structure
 Geographical Structure
 Network Structure
 Linear Structure
 Market-Based Structure
 Product-Based Structure
 Matrix Structure

FUNCTIONAL STRUCTURE

1. Functional structures organize employees into

groups based on their job positions and
skillsets.
2. A specialized team or function group is an
assortment of employees with similar job
aspects.
3. Team leaders may manage function groups and
report to senior executives when necessary.
4. Specialized functional groups can promote
consistent work and speed up work
performance since they don't involve
employees outside of their function.
5. This structure is easier to manage on a larger
scale because it can easily adjust to changes
in the business as it grows.

GEOGRAPHICAL STRUCTURE

1. International companies usually are on a much

larger scale since they work in multiple countries
and languages.
2. Using a geographical marketing structure can be
helpful for these companies because it divides
employees into teams based on geographical
regions or districts.

3. Having teams dedicated to certain

geographical regions can assist employees in
designing local marketing strategies based on
their target audience.
4. This structure also could allow employees in each
division to become familiar with their regions, giving
them the ability to connect with their audience on a
deeper level.
NETWORK STRUCTURE

1. A business that intends to work with another,

separate business to share resources may use
a network structure, which is helpful for
organizations that want to maintain control and
expedite their internal operations.
2. A business that provides one or two specified goods
or services might want to outsource tasks that are
not performed internally, since the business is most
familiar with its internal tasks.
3. For example, a restaurant might want to sell custom
merchandise, but outsourcing the job to a graphic
designer could allow the restaurant to focus on its
core operations while expanding its network with
new partnerships.

LINEAR STRUCTURE

1. This type of structure refers to the chain of

command hierarchy as its organizational
structure.
2. The top employee in the chain of command
oversees the entire business, and the other
employees in the chain of command only
oversee one part of the business and refer
 directly to the employee above them in the
hierarchy.
3. This structure can be best for small businesses with
few job positions.

MARKET-BASED STRUCTURE

1. Some businesses focus on certain industries,

markets or types of consumers while creating
a marketing organization structure.
2. Industries, markets and consumer types are division
segments that outline an organizational structure.
3. Focusing on individual segments gives employees
the opportunity to create marketing strategies that
appeal to different consumers.
4. These structures are best for a business that aims
to provide services to particular parts of a market or
industry.

PRODUCT-BASED STRUCTURE

1. A product-based structure is mostly ideal for a

business selling multiple products or services.
2. This structure separates employees into groups or
divisions that focus on each individual product line.
3. Each division can have employees from every
specialized function, whereas a functional structure
 has employees divided into separate groups that
focus on one specialized function.
4. A product-based structure can give each division
independence from one another, which allows
employees to focus on their own division-related
tasks since they do not have to communicate with
outside groups or departments.

MATRIX STRUCTURE

1. A matrix structure is a combination of a product-

based structure and a functional structure.
2. This is best for arranging employee
departments or teams based on their job roles
and the products they are working with
because each department handles one
specific product.
3. A marketing organization structure like this can
provide more information at a faster rate since
multiple specialty teams oversee one project.
4. Having a variety of specialty teams responsible for
one project can help employees openly
communicate and provide more resources for other
employees to use while working toward their goals.
STEPS IN DEVELOPING EFFECTIVE
COMMUNICATION

1. Identify Target Audience

2. Determine Communication Objectives
3. Design The Message
4. Select Channels
5. Establish Budget
6. Decide Media Mix
7. Measure Result
8. Manage Integrated Marketing Communication

 Identify The Target Audience: –

1. The communicator starts with a clear target
audience in mind.
2. The audience may be an individual, a group, special
public or general public.
3. The target audience will tremendously affect the
communicator's decision like what will be said,
how it will be said, when it will be said and
who will say it.
4. A major part of audience analysis is assessing the
current image of the company, its products, and its
competitors.

Determining the Communication Objectives: -

1. When the target audience is identified, the
communicator must decide what response is
asked for.
2. In a market where the product is at other stages of
the life cycle, the communication objectives would
be different.

The marketer could be seeking: -

 Cognitive Response: The advertiser might want to

put something in the consumer s’ mind.
 Affective Response: Change consumer’s attitude.
 Behavioural Response: Get the consumer to act.
3. Communication objectives should be the guiding
force for development of the overall marketing
communications strategy and of objectives for each
promotional mix area.

 Design The Message: -

1. The communicator now moves next to developing
an effective message.
2. Ideally, the message should gain attention,
hold interest, arouse desire, and elicit action.
3. A.I.D.A (Attention-Interest-Desire-Action)
framework suggests the desirable qualities of any
communication.
4. Formulating the message involves decisions about
message content, structure, format, and source.
 Selection of Channels: -

The communicator must select the channels of

communication which may be:

1. Personal communication channels: e.g.,

Telephone, Mails, Emails etc. where message is sent
through personal contact and feedback.
2. Non-personal communication channels: e.g.,
Newspapers, Magazines, Radio, Television,
Signboards, Posters etc. where the media carry
messages without personal contact or feedback.
 Establish the Budget: -
1. Industries and companies vary considerably in how
much they spend on promotion.
2. Two common methods of deciding on a budget
include:
I. Affordable Method: Many companies set the
promotion budget at what management thinks the
firm can afford.
II. Percentage-of-the-sales method: Many firms set
promotion expenditure as a specified percentage of
sales or of the sales price.
 Decide on the Media Mix i.e., Marketing
Communication Mix: -
1. Companies must decide how to allocate the
budget over the five promotional tools.
2. Even in the same industry, companies differ
considerably in their media and channel choices.
3. Advertising can reach geographically
dispersed buyers efficiently. Certain forms of
advertising require a large budget, while others do
not.
4. Sales promotion tools coupons, contests, premiums
and the like offer three key benefits:
communication, incentive and invitation.
5. The appeal of public relations and publicity is based
on three qualities: High credibility, Ability to
catch buyers off guard and Dramatization.
6. Direct marketing can be in the form of direct mail,
telemarketing and Internet Marketing.
7. Qualities of personal selling include Personal
Confrontation, Cultivation and Response.

Measure the Results: -

1. After implementing the promotional plan, the

company must measure its impact.
2. Members of the target audience are asked
whether they recognize or recall the message,
how many times they saw it, what points they
recall, how they felt about the message, and
their previous and current attitude towards
the product and company.
3. The communicator should also collect behavioural
measures of audience response, such as how many
people bought the product, like it, and talked to
others about it.
 Manage The Integrated Marketing
Communication Process: -
1. Integrated marketing communications (I.M.C)
is a concept of marketing communications planning
that recognizes the added value of a
comprehensive plan evaluating the strategic
roles of a variety of communications
disciplines such as advertising, direct
response, sales promotion and public
relations and combine these disciplines to provide
clarity, consistence and maximum
communications impact through the seamless
integration of discrete messages.
2. Properly implemented, I.M.C improves the firm’s
ability to reach the right customers with the right
messages at the right time and in the right place.

ADVERTISING BUDGET

An advertising budget is estimate of a company's

promotional expenditures over a certain period of time.

METHODS/TYPES OF ADVERTISING BUDGET: -

1. Percentage Of Sales Method

2. Objective And Task Method
3. Competitive Parity Method
4. Affordable Method
5. Market Share Method
6. Top-Up Approach
7. Bottom-Up Approach
8. Expert Opinion Method
 Percentage of Sales Method: -
1. When using this method an advertiser takes a
percentage of either past or anticipated sales and
allocates that percentage of the overall budget to
advertising.
2. Due to its simplicity, the percentage of sales
method is the most commonly used by small
businesses.
 Objective and Task Method: -
1. Under this method, the company first sets concrete
advertising goals. Then, they determine the specific
resources and activities needed to achieve these
goals. The company then determines how much it
costs for each activity and adds them up to get the
total cost.
2. The objective and task method are considered the
most sensible. Therefore, some larger companies
prefer to use this approach.
 Competitive Parity Method: -
1. Under the competitive parity method, firms
calculate budgets according to competitors’
advertising spending or industry averages. The aim
is to at least offset the effects of competitor
advertising spending.
 Affordable Method: -
1. Under the affordable method, the advertising
budget depends on the company’s capacity to
spend on advertising.
2. In other words, the budget depends on how much
money the company has.
3. The stronger the company’s financial position, the
bigger the advertising budget.
 Market Share Method: -
1. This method sets the advertising budget based on a
company’s market share.
2. For a higher market share, less marketing budget is
set.
 Top-Up Approach: -
1. This method sets the advertising budget by top
management based on their judgment and
experience.
2. In this method, only the top manager has the right
to decide on one promotional activity fund, after
allocating the budget he passes it to his
subordinates for implementation.
 Bottom-Up Approach: -
1. This method sets the advertising budget by
involving lower-level managers and employees in
the decision-making process.
2. Since the lower-level managers have real event
information about the organization, the manager
can get, analyse, be profit from the real-time data
provided by his subordinates.

Expert Opinion Method: -

1. In this method of adverting budget, the marketer

usually asks experts in advertising fields to take
necessary steps in his advertising processes.
2. The marketer can get suggestions from both
external and internal experts.
3. The internal experts are the senior members of the
organization and externals are the outside of the
organization.

FACTORS AFFECTING ADVERTING BUDGET

Advertising is one of the variables which affect

sales and hence the profit earned. It is therefore
difficult to calculate the amount to be allocated for
advertisement budget.

Also, the budgeting depends on various other factors

like: -

1. Degree Of Competitiveness in Market.

2. Market Share: Market Leader/Market Follower.
3. Product Life-Cycle Stage.
4. Advertising Frequency.
5. The Competitors Strategies.
6. Types Of Products.
7. Marketing Goals.
8. Target Audience.
 Degree Of Competitiveness in Market: -
1. It can be in terms of Monopoly/Duopoly/ Oligopoly.
2. A monopoly firm does not have to worry about the
promotional spends as it is the only player in the
market.
3. For duopoly, where market is dominated by two
dominant players, the promotional budgets would
be high to outperform each other.
4. In an Oligopolistic market, where the market is
cluttered and there are many players, promotional
spends has to be higher as the frequency of
advertisements has to be increased to get noticed
among so many players.
5. Thus, depending upon the competition, the
advertising budget is set.
 Market Share: Market leader/Market
Follower:
1. The advertising budget for a market follower will be
decided by the tactics of the market leader.
2. To improve market share one of the investments is
to increase promotional spent. Thus, where a
company stand is a deciding factor in advertising
budget.

Product Life-Cycle Stage: -

1. The advertisement budget would be higher at the

introduction and growth stages as it has to
 introduce the product in the market and establish
itself among the competitors so the frequency of
advertisements would be high and so would be the
budget.
2. As the product reaches maturity and decline stages
the promotional spent would be lower.
 Advertising Frequency: -
1. An ad can be played only once or can be multiple
times.
2. Also, it can be daily, weekly, fortnightly, monthly
etc.
3. Depending upon the requirement, the advertising
budget is altered.
 The Competitors Strategies: -
1. Product categories, which have stiff competition,
witness a greater expenditure on advertising.
2. When competitors increase their advertising
expenditure others are forced to follow them.
 Types of Products: -
1. The advertising budget should reflect the nature
and characteristics of the products being
advertised.
2. For example, products that are new, complex,
expensive or have a high perceived risk may require
 more advertising than products that are familiar,
simple, cheap or have a low perceived risk.
 Marketing Goals: -
1. The advertising budget should align with the overall
marketing goals of the company.
2. For example, if the goal is to increase market
penetration, the company may need a larger
advertising budget to increase consumer awareness
and reach a wider market.
 Target Audience: -
1. The advertising budget should consider the profile
of the target audience, such as their demographics,
preferences, media habits and buying behaviour.
2. For example, if the target audience is millennials,
online advertising may be more effective and
cheaper than print advertising.

NEW PRODUCT DEVELOPMENT (N.P.D)

New product development (N.P.D) is the process of
bringing a new product or service to the market.
It involves identifying opportunities, generating
ideas, conducting market research, designing
and testing prototypes, and launching the
product. Effective new product development is
essential for companies to stay competitive, meet
customer needs, and drive growth. Here are the key
stages involved in the new product development
process: -
1. Idea Generation: The first stage involves
generating ideas for new products or services.
Ideas can come from various sources, such as
customer feedback, market research, internal
brainstorming sessions, or collaborations with
external partners.
2. Idea Screening: In this stage, the generated
ideas are evaluated and screened based on
predetermined criteria. Ideas that do not meet
the criteria or are not feasible are eliminated, and
the most promising ideas are selected for further
development.
3. Concept Development and Testing: The selected
ideas are further developed into product
concepts. Product concepts outline the key
features, benefits, and target market for the
new product.
4. Business Analysis: In the business analysis stage,
a detailed assessment is conducted to
evaluate the financial viability and
profitability of the new product.
5. Product Development: Once the business
analysis is positive, the product development stage
begins. This involves designing and
engineering the product, creating prototypes,
and conducting rigorous testing to ensure
functionality, quality, and safety.
6. Market Testing: In this stage, the new product is
introduced to a limited market to gather
feedback and assess its performance.
7. Commercialization: After successful market
testing, the new product is ready for
commercialization. This stage involves full-scale
production, distribution, and marketing
activities to launch the product in the market.
8. Post-Launch Evaluation: Once the product is
launched, it is important to monitor its
performance and gather feedback from
customers, sales data, and market trends.

THE FIVE STAGE MODEL/PURCHASE DECISION

PROCESS

The Five-Stage Model of the consumer buying process,

also known as the Purchase Decision Process,
outlines the steps that consumers typically go through
when making a purchase. These stages are as follows:
1. Problem Recognition: The consumer recognizes a
need or a problem that requires a solution.
2. Information Search: After recognizing a need,
consumers engage in information search to gather
information about possible solutions.
3. Evaluation of Alternatives: In this stage,
consumers evaluate the available alternatives
based on various criteria, such as price, quality,
features, brand reputation, and personal
preferences.
4. Purchase Decision: After evaluating the
alternatives, consumers make a purchase decision.
They decide on the specific brand, product, or
service that best meets their needs and
preferences.
5. Post-Purchase Evaluation: After the purchase,
consumers evaluate their satisfaction with the
chosen product or service. They compare their
expectations with the actual performance and value
derived from the purchase.

S.W.O.T ANALYSIS

Conducting a S.W.O.T analysis can indeed aid in the

growth of an organization under marketing
management. S.W.O.T stands for Strengths,
Weaknesses, Opportunities, and Threats. It is a
strategic planning tool that helps businesses
identify internal strengths and weaknesses, as
well as external opportunities and threats. Here's
how a SWOT analysis contributes to organizational
growth:

1. Identifying Strengths: The S.W.O.T analysis helps

in identifying the internal strengths of the
organization.
2. Addressing Weaknesses: The S.W.O.T analysis
also helps in identifying internal weaknesses or
areas of improvement within the organization.
3. Exploring Opportunities: The S.W.O.T analysis
examines external factors and identifies
opportunities that can be leveraged to drive growth.
4. Mitigating Threats: The S.W.O.T analysis helps
organizations identify external threats that could
potentially hinder their growth.
5. Strategy Formulation and Decision Making:
The insights gained from a S.W.O.T analysis help in
formulating effective marketing strategies and
making informed business decisions.
6. Risk Assessment and Management: The
S.W.O.T analysis assists in assessing and managing
risks associated with marketing initiatives.

FIVE LEVELS OF PRODUCT

In marketing management, the concept of the "five

levels of product" refers to a framework that
categorizes a product into different levels based on the
value it delivers to customers. This framework, often
referred to as the "product hierarchy," was developed
by Philip Kotler. The five levels of product are:

1. Core Product: The core product represents the

fundamental benefit or value that customers
seek when purchasing a product.
2. Actual Product: The actual product is the
tangible and physical form of the product that
customers can see, touch, and experience.
3. Augmented Product: The augmented product
encompasses additional features, services, or
support that enhance the value and customer
experience beyond the core and actual
product. These may include warranties, after-sales
service, customer support, installation assistance,
product customization, or add-on accessories.
4. Expected Product: The expected product refers to
the set of attributes and features that
customers expect as a minimum standard for
the product category.
5. Potential Product: The potential product
represents future enhancements, innovations,
or extensions that can further enhance the
product's value and meet evolving customer
needs.

MARKETING PLAN

A marketing plan is a comprehensive document

that outlines the marketing objectives,
strategies, tactics, and activities to be
implemented by an organization to achieve its
marketing goals. It serves as a roadmap for the
marketing team, providing a clear direction and
guidelines for the marketing efforts. Here are the key
components typically included in a marketing plan:

1. Executive Summary: This section provides an

overview of the marketing plan, summarizing
the key objectives, strategies, and expected
outcomes.
2. Situation Analysis: It involves conducting a
thorough analysis of the internal and external
factors that may impact the organization's
marketing efforts.
3. Marketing Objectives: Clear and measurable
marketing objectives are established to guide
the plan. These objectives should align with the
overall business goals and be specific, realistic, and
time-bound.
4. Target Market: This section defines the specific
segments of the market that the organization
aims to target. Understanding the target market
helps in tailoring marketing strategies and
messages to resonate with the intended audience.
5. Marketing Strategies: The marketing strategies
outline the broad approaches to be used to
achieve the marketing objectives.
6. Marketing Tactics: This section outlines the
specific marketing tactics and activities to be
implemented to execute the marketing
strategies. Each tactic should be specific,
measurable, achievable, relevant, and time-bound
(SMART).
7. Budget and Resource Allocation: This section
outlines the budget required to execute the
 marketing plan and the allocation of
resources across different marketing
activities.
8. Implementation and Timeline: A detailed
timeline is created, specifying when each
marketing activity will be executed.
9. Evaluation and Metrics: This section defines the
key performance indicators (KPIs) that will be used
to assess the effectiveness of the marketing plan.
10. Contingency Plans: Contingency plans anticipate
potential challenges or changes in the
marketing landscape and outline alternative
strategies or actions to be taken if needed.
This ensures flexibility and adaptability in response
to unforeseen circumstances.

MICHAEL PORTER'S VALUE

Michael Porter's value concept is a fundamental

framework in marketing management that focuses on
creating and delivering value to customers.

According to Porter, value is the combination of

benefits that customers receive from a product
or service relative to its cost.

Porter proposed two types of value: -

1. Cost Value: Cost value refers to the benefits
customers receive by obtaining a product or
service at a lower cost than the competition.
By offering products or services at a lower price
while maintaining acceptable quality, companies
can attract price-sensitive customers and gain
market share.
2. Differentiation Value: Differentiation value
focuses on creating unique and distinctive
benefits that set a company's products or
services apart from competitors. By offering
differentiated value, companies can target specific
customer segments, command premium prices, and
build customer loyalty.

S.E.R.V.Q.U.A.L MODEL

The S.E.R.V.Q.U.A.L model is a popular framework in

marketing management that is used to assess and
measure the quality-of-service delivery from the
perspective of customers. It helps organizations
understand the gaps between customer
expectations and their actual experience of
service quality. The name S.E.R.V.Q.U.A.L is an
acronym derived from the five dimensions of service
quality: Reliability, Assurance, Tangibles,
Empathy, and Responsiveness.

1. Reliability: Reliability refers to the ability of a

company to provide consistent and accurate
service delivery. Reliability is about avoiding
service failures, delays, and errors, and it builds
trust and confidence in customers.
2. Assurance: Assurance relates to the knowledge,
competence, and courtesy of employees and
their ability to convey trust and confidence to
customers. Assurance includes the perception of
security and credibility that customers have
towards the company.
3. Tangibles: Tangibles refer to the physical and
tangible aspects of the service environment
that customers interact with. Tangibles
contribute to the overall impression of service
quality and can influence customer perceptions and
expectations.
4. Empathy: Empathy relates to the level of care,
individual attention, and understanding that a
company provides to its customers. Empathy is
about demonstrating sensitivity and responsiveness
 to customer concerns and tailoring the service
experience to meet individual needs.
5. Responsiveness: Responsiveness refers to the
willingness and promptness of the company
to provide a quick and efficient service
response to customer inquiries, requests, and
complaints. Responsiveness demonstrates a
company's commitment to customer satisfaction
and the ability to provide timely solutions.

The SERVQUAL model provides a framework for

organizations to deliver superior service quality, meet
customer expectations, and enhance customer
satisfaction and loyalty.

MICHAEL PORTER'S FIVE FORCES MODEL

Michael Porter's Five Forces model is a framework that

helps analyse the competitive environment in
which a business operates. It identifies five key
forces that shape an industry's competitive intensity
and attractiveness. Here are the five forces in Porter's
model:

1. Threat of New Entrants: This force assesses the

barriers to entry for new companies in an industry.
2. Bargaining Power of Suppliers: This force
examines the power suppliers have over the
industry. Suppliers with strong negotiating power
can influence prices, terms, and availability of
inputs.
3. Bargaining Power of Buyers: This force considers
the power customers have over the industry. Buyers
with strong bargaining power can demand lower
prices, better quality, or additional services.
4. Threat of Substitutes: This force assesses the
likelihood of customers switching to alternative
products or services.
5. Intensity of Competitive Rivalry: This force
measures the level of competition among existing
firms in an industry. Factors such as the number of
competitors, industry growth rate, product
differentiation, and exit barriers influence
competitive intensity.

SERVICE & PRODUCT DIFFERENCE

Service and product are two distinct concepts in

marketing management. While both involve offerings
that fulfil customer needs or desires, there are several
key differences between them. Here's a comparison to
differentiate between services and products:
1. Intangibility: Products are tangible objects that
can be seen, touched, or held. Services are
intangible and cannot be touched or possessed.
2. Perishability: Products are generally non-
perishable, meaning they can be stored for future
use or consumption. Services are often perishable
and cannot be stored for future use.
3. Production and Delivery: Products are typically
manufactured or produced before they are sold.
Services are often produced and delivered at the
same time and location as they are consumed.
4. Ownership and Transfer: Products are typically
owned by the customer after purchase, and they
can be resold or transferred to others. Services,
being intangible, do not involve transfer of
ownership.
5. Evaluation and Quality: Products can be
evaluated based on their physical attributes,
features, and performance. Services are evaluated
based on the customer's perception of the service
experience, which can be subjective and influenced
by factors such as customer interactions, reliability,
responsiveness, and overall satisfaction.
6. Customer Involvement: Products often require
minimal customer involvement beyond the
 purchase and usage stages. Services often require a
higher level of customer involvement and
interaction throughout the service delivery process.
7. Marketing Approach: The marketing strategies
and tactics used for products and services can
differ. Product marketing often focuses on physical
attributes, features, and packaging. Service
marketing emphasizes the intangible benefits,
expertise, customer experience, and customer
satisfaction.

P.O.D & P.O.P

The terms "P.O.D" and "P.O.P" are often used in

marketing to refer to specific elements related to a
brand's positioning and point of purchase. Here's what
each term stands for:

1. P.O.D - Point of Differentiation or Point of

Distinction: Refers to the unique and
compelling aspect of a brand that sets it apart
from its competitors in the market. It
represents the specific attribute, feature, benefit, or
value proposition that makes the brand distinctive
and offers a competitive advantage.
2. P.O.P - Point of Purchase or Point of Sale:
Refers to the physical or digital location
where a customer makes a purchase decision
and completes the transaction. It can be a retail
store, an e-commerce website, a mobile app, or any
other platform where the brand's products or
services are available for sale.

BRAND PERSONIFICATION & BRAND

VISUALIZATION

Brand Personification and Brand Visualization are two

concepts in marketing management that aim to create
a strong and favourable brand image in the
minds of consumers. Let's explore each concept in
detail:

1. Brand Personification: Brand personification

involves attributing human characteristics,
traits, and personality to a brand. It is the
process of giving a brand human-like qualities to
make it more relatable and create a deeper
emotional connection with consumers. By
personifying a brand, marketers can shape the
brand's identity and differentiate it from
competitors.
The goal of brand personification is to create a brand
personality that consumers can relate to and
form a relationship with. By humanizing the brand,
marketers can evoke emotions, build trust, and foster
brand loyalty among consumers.

2. Brand Visualization: Brand visualization refers to

the process of creating visual representations
or images that encapsulate the essence of a
brand. It involves using visual elements, such as
colours, logos, typography, imagery, and design, to
communicate the brand's identity, values, and
positioning.

Brand visualization goes beyond creating a visually

appealing logo or design. It involves the strategic
use of visuals to convey the brand's personality,
values, and positioning.

CORE COMPETENCY & COMPETITIVE ADVANTAGE

Core competency and competitive advantage are two

key concepts in marketing management that
contribute to a company's success and market
position. Let's explore each concept:
1. Core Competency: Core competency refers to a
company's unique strengths, capabilities, and
resources that differentiate it from
competitors and enable it to deliver superior
value to customers. It represents the collective
knowledge, skills, and expertise within an
organization that are difficult for competitors to
replicate.

Identifying and leveraging core competencies is crucial

for strategic decision-making and resource allocation.
By focusing on areas where the company excels and
has a competitive advantage, it can differentiate itself,
achieve higher performance, and create sustainable
growth.

2. Competitive Advantage: Competitive advantage

refers to the unique attributes or strengths that
enable a company to outperform competitors
in the marketplace. It is the superior position a
company holds, allowing it to attract and retain
customers and achieve higher profitability.

By effectively leveraging its core competencies, a

company can establish a sustainable competitive
advantage in the market. This advantage allows the
company to achieve higher market share, profitability,
and long-term success.

POSITIONING

Positioning refers to the process of creating a

distinctive image and perception of a product,
brand, or company in the minds of target
customers. It involves defining and communicating
the unique value and benefits that a product or brand
offers, and how it is different or superior to competitors
in the marketplace.

Here are some key aspects of positioning in marketing

management:

1. Target Market: Positioning begins by identifying

the target market or specific segment of customers
that a company wants to serve.
2. Differentiation: Positioning aims to differentiate a
product or brand from competitors in the minds of
customers.
3. Value Proposition: The value proposition
communicates the key benefits or value that a
product or brand offers to customers.
4. Positioning Statement: A positioning statement
is a concise and clear statement that conveys the
unique positioning of a product or brand.
5. Brand Image and Perception: Positioning
influences how customers perceive a brand or
product.
6. Competitive Analysis: Positioning requires
understanding the competitive landscape and how
competitors are positioning themselves.

IMPORTANCE OF PACKAGING & LABELLING

Packaging and labelling play a crucial role in marketing

management as they contribute to a product's overall
success and impact on consumers. Here are the key
reasons why packaging and labelling are important:

1. Product Differentiation: Packaging and labelling

help differentiate a product from its competitors.
2. Branding and Brand Recognition: Packaging and
labelling are important elements of a brand's
identity. They carry the brand's logo, colours, and
visual elements, helping to create brand recognition
and recall.
3. Communication of Information: Packaging and
labelling provide important information about the
 product to consumers. This includes details such as
the product name, ingredients, usage instructions,
nutritional facts, warnings, and legal requirements.
4. Consumer Appeal and Convenience: Packaging
can enhance the user experience by making the
product easy to handle, open, and store.
5. Protection and Preservation: Packaging serves
the essential function of protecting the product
during transportation, storage, and handling.
6. Marketing and Promotion: Packaging is an
effective marketing tool that communicates the
product's benefits, features, and value to
consumers.
7. Legal and Regulatory Compliance: Packaging
and labelling must adhere to various legal and
regulatory requirements.

BRAND

A brand is more than just a logo or a product. It

encompasses the overall perception, reputation,
and unique identity of a company, product, or
service in the minds of consumers. Here are some
of the essential elements of a brand: -
1. Brand Name: The brand name is the primary
identifier of a company or product. It should be
memorable, distinctive, and reflect the
essence of the brand.
2. Logo and Visual Identity: The logo is a visual
symbol that represents the brand. It should be
unique, easily recognizable, and visually appealing.
3. Brand Positioning: Brand positioning refers to the
unique space a brand occupies in the minds of
consumers relative to its competitors.
4. Brand Personality: Brand personality defines the
human-like traits and characteristics
associated with a brand.
5. Brand Values: Brand values are the guiding
principles and beliefs that shape the brand's
behaviour and decision-making.
6. Brand Messaging: Brand messaging encompasses
the core messages and narratives that the
brand communicates to its target audience. It
includes the brand's mission, vision, tagline, and
key value propositions.
7. Brand Experience: Brand experience refers to the
overall customer experience and perception of the
brand at every touchpoint.
8. Brand Associations: Brand associations are the
mental connections and associations that
consumers make with a brand.
9. Brand Equity: Brand equity is the commercial
value and goodwill associated with a brand.
10. Brand Extension: Brand extension refers to
leveraging an existing brand to introduce new
products or enter new markets.

STAGES OF PERSONAL COMMUNICATION

Personal communication involves direct interaction and

communication between individuals. It typically occurs
in face-to-face or one-on-one settings and plays a
crucial role in marketing and relationship building. The
stages of personal communication can be broadly
classified as follows: -

1. Introduction: The introduction stage sets the

tone for personal communication. It involves
initial greetings, establishing rapport, and
creating a comfortable and welcoming
environment.
2. Information Exchange: Once the introduction is
made, the stage of information exchange begins.
This involves sharing and gathering relevant
 information between the individuals involved
in the communication.
3. Active Listening: Active listening is a crucial stage
in personal communication. It involves attentively
and empathetically listening to the other
person's words, tone, and non-verbal cues.
4. Two-Way Communication: Two-way
communication involves an exchange of ideas,
opinions, and feedback between the
individuals engaged in personal
communication.
5. Building Relationships: Personal communication
often aims to build and strengthen relationships.
This stage focuses on developing trust, rapport,
and connection with the other person.
6. Closing and Follow-up: The closing stage involves
concluding the personal communication on a
positive note.

SUPPLY CHAIN MANAGEMENT (S.C.M)

Supply chain management (S.C.M) refers to the

coordination and management of all activities
involved in the flow of goods, services,
information, and finances from the raw material
stage to the final delivery of products or services
to customers. It encompasses the planning, sourcing,
manufacturing, logistics, and distribution processes to
ensure the efficient and effective movement of goods
and services through the supply chain. Effective
supply chain management is crucial for
optimizing operational efficiency, reducing costs,
improving customer satisfaction, and gaining a
competitive advantage.

Supply chain management is a complex and dynamic

discipline that requires collaboration, coordination, and
integration among various stakeholders, including
suppliers, manufacturers, distributors, retailers, and
customers. Effective supply chain management enables
organizations to streamline operations, reduce costs,
enhance customer satisfaction, and gain a competitive
advantage in the marketplace.

CUSTOMER LIFETIME VALUE (C.L.V)

Customer Lifetime Value (C.L.V), also known as

Lifetime Customer Value (L.C.V), is a crucial
concept in marketing management that refers to the
total value a customer generates for a business
over the entire duration of their relationship with
the company. It quantifies the long-term revenue and
profit potential associated with acquiring and retaining
customers. C.L.V helps businesses understand the
financial worth of their customers and enables
them to make informed decisions regarding
customer acquisition, retention, and marketing
strategies.

SOCIAL, ETHICAL, AND LEGAL ASPECTS OF

MARKETING

In marketing management, it is essential to consider

the social, ethical, and legal aspects of marketing
practices. These aspects help guide businesses in
conducting marketing activities responsibly and in
alignment with societal values.

1. Social Aspect: The social aspect of marketing

involves considering the impact of marketing
activities on society as a whole and on
specific stakeholder groups. Social responsibility
in marketing involves engaging in activities that
contribute positively to society, such as supporting
community initiatives, promoting environmental
sustainability, and respecting cultural diversity.
2. Ethical Aspect: The ethical aspect of marketing
refers to conducting marketing activities in an
 ethical and morally responsible manner. This
includes adhering to principles of honesty, fairness,
transparency, and respect for consumer rights.
3. Legal Aspect: The legal aspect of marketing
pertains to compliance with laws and regulations
governing marketing activities.

NICHE MARKET

A niche market refers to a specific segment of a

larger market that has distinct and specialized
needs, preferences, or characteristics. It
represents a subset of customers within a broader
market who share unique interests or requirements
that may not be adequately addressed by mainstream
products or services. Niche markets are typically
smaller in size and are characterized by a more focused
and specialized customer base.

Here are some key characteristics of niche markets:

1. Specific Demographics or Preferences: Niche

markets often cater to a specific demographic group
or target audience with particular preferences or
interests.
2. Unique Needs or Problems: Niche markets
typically arise when a group of customers has
specialized needs or faces specific challenges that
are not adequately met by mainstream offerings.
3. Limited Competition: Niche markets often have
fewer competitors compared to broader markets.
4. Higher Price Tolerance: Customers in niche
markets are often willing to pay a premium price for
products or services that cater to their specific
needs.
5. Relationship and Community Building: Niche
markets foster a sense of community among
customers who share common interests or needs.

HOLISTIC MARKETING

Holistic marketing is an approach to marketing

management that considers the entire business and
its various components as interconnected and
integrated parts of a larger system. It takes into
account not only the traditional marketing aspects such
as product, price, promotion, and place, but also
broader considerations such as the company's
values, ethics, culture, and long-term
sustainability. Here are the key components of
holistic marketing:
1. Internal Marketing: Internal marketing focuses on
engaging and aligning employees with the
company's values, vision, and goals.
2. Integrated Marketing: Integrated marketing
emphasizes the consistency and coordination of
marketing efforts across different channels and
touchpoints.
3. Relationship Marketing: Relationship marketing
focuses on building long-term relationships and
loyalty with customers.
4. Socially Responsible Marketing: Socially
responsible marketing considers the ethical and
social implications of marketing decisions.
5. Performance Marketing: Performance marketing
focuses on measuring and optimizing marketing
activities to achieve desired outcomes.
6. Customer Experience Management: Customer
experience management involves designing and
managing every touchpoint and interaction that a
customer has with the brand.

GREEN MARKETING

Green marketing, also known as sustainable marketing

or eco-marketing, refers to the practice of promoting
products or services that are environmentally friendly,
socially responsible, and sustainable. In India, green
marketing has gained significance due to growing
environmental concerns, increasing consumer
awareness, and government initiatives promoting
sustainable development. Here are some key aspects
of green marketing in India:

1. Consumer Awareness and Demand: Indian

consumers are becoming more conscious of
environmental issues and are increasingly
demanding products that are environmentally
friendly.
2. Government Initiatives and Regulations: The
Indian government has implemented various
initiatives and policies to encourage green practices
and sustainable development.
3. Corporate Sustainability: Indian companies are
increasingly recognizing the importance of
sustainability and incorporating green practices into
their operations.
4. Green Product Innovation: Indian businesses are
actively developing and promoting green products
to meet the growing demand for sustainable
alternatives.
5. Communication and Marketing Strategies:
Green marketing in India involves effectively
communicating the environmental benefits and
sustainability aspects of products and services to
consumers.

MOBILE MARKETING

Mobile marketing refers to the practice of reaching and

engaging target audiences through mobile devices
such as smartphones and tablets. It is an essential
component of marketing management in today's digital
age, considering the widespread use of mobile devices
and the increasing dependency of consumers on mobile
technology. Mobile marketing encompasses various
strategies and tactics to connect with consumers on
their mobile devices. Here are some key aspects of
mobile marketing under marketing management:

 Mobile Advertising
 Mobile Apps
 Mobile-Optimized Websites
 SMS and MMS Marketing- Short Message
Service (SMS) and Multimedia Message
Service (MMS).
 Location-Based Marketing.
 Mobile Payment Solutions.
 Mobile Analytics.

E-COMMERCE - ELECTRONIC COMMERCE

E-commerce, short for electronic commerce, refers to

the buying and selling of goods and services over the
internet. It involves online transactions and the
exchange of products, services, or information between
businesses, consumers, or both. Here are some key
aspects of e-commerce under marketing management:

1. Online Presence and Website Development: E-

commerce requires establishing a strong online
presence through a dedicated website or an online
store.
2. Digital Marketing Strategies: E-commerce
businesses heavily rely on digital marketing to drive
traffic to their websites and increase sales.
3. Customer Relationship Management (CRM): E-
commerce marketing management involves
implementing effective customer relationship
management systems to understand and engage
with customers.
4. Conversion Optimization: Marketing managers
focus on optimizing the e-commerce website's
conversion rate, which refers to the percentage of
visitors who make a purchase.
5. Online Advertising and Promotion: E-commerce
businesses utilize various online advertising and
promotional strategies to reach their target
audience.

PURE-CLICK COMPANIES

Pure-click companies, also known as pure-play

companies, are businesses that operate solely
through online channels without a physical
presence or traditional brick-and-mortar stores.
These companies conduct all their business activities,
including sales, marketing, and customer interactions,
exclusively through digital platforms. Here are some
key characteristics of pure-click companies:

 Online Operations.
 Digital Marketing.
 Inventory Management.
 Customer Engagement.