Maharaja Surajmal Institute Affiliated to GGSIPU Delhi Course Bachelor of Business Administration MARKETING MANAGEMENT Subject Module On BBA Semester III Credit 4 The study material notes of this subject have been compiled from various online sources websites books articles and is meant for reference purpose for students only and is not meant for any kind of commercial activity Module Compiled by Dr Rajeshwari Malik Dr Supriya Chaudhary Dr Sumita Kukreja Dr Anupama Sharma Ms Shikha Shokeen Ms Nisha Tokas Dr Anshu Lochab Ms Chetna Grewal Dr Jagbir Ahlawat July 2021 1 Unit No Unit Name I CONTENTS Page Number 5 37 38 42 43 61 of Lesson 1 Introduction to Marketing Nature Scope and Importance of Marketing Concept of Marketing Characteristics Nature Scope Importance Some Basic Concepts Marketing Philosophies Marketing Management Process Lesson 2 Marketing Mix Concept Of Marketing Mix The Marketing Mix From 4 P S TO 7 P S 8th P of The Marketing Mix Lesson 3 Marketing Environment Concept Scanning environment Importance of environmental Analysis Micro Environment Macro Environment Lesson 4 Consumer Behaviour Consumer Decision Making concept and Steps Industrial markets Features Industrial Marketing Differences between Industrial and Consumer Marketing Lesson 5 Market Segmentation Targeting and Positioning Nature and Significance of Market Segmentation Segmentation Criteria Bases for segmenting markets Strategy Market Targeting Target Market Strategies Market Positioning Market Repositioning MCQs Descriptive questions Glossary Key Words References and Further Readings Lesson 6 Product Pricing Introduction of Product Dimensions of Product Classification of Distribution Product Mix Product Mix Decisions Product line Modification Factors Influencing Product Mix Lesson 7 New Product Development The Product Life Cycle Brand Loyalty Packaging and Labelling Lesson 8 Pricing Policies and Strategies Pricing Objectives Pricing Methods Price Strategies Products Channel line Product Segmentation Levels of 2 II III IV Channel Introduction MCQs Descriptive questions Glossary Key Words References and Further Readings to Managing Lesson 9 Place Marketing Channels Role of Distribution Channel Channel of Distribution Designing Managing Marketing Physical Distribution Retail Operations Managing Retailing Lesson 10 Wholesaling Marketing Logistics JIT Logistics and Supply Chain Management MCQs Descriptive questions Glossary Key Words References and Further Readings Lesson 10 Promotion Promotional Objectives Factors Influencing Choice of Promotional Mix Push vs Pull Strategy Lesson 11 Importance Comparison of Advertising Media Lesson 12 Personal Selling Importance and Process Transaction versus Relationship Selling Sales Promotion Purpose Types Limitations Publicity and Public Relations Definition Importance and Tools Direct Marketing Lesson 13 Digital Marketing Types Advantages Challenges MCQs Descriptive questions Glossary Key Words References and Further Readings Advertising Definition and 62 67 68 77 78 82 83 116 117 126 3 Syllabus Marketing Management Unit I Introduction to Marketing Nature Scope and Importance of Marketing Basic Concepts Marketing Philosophies Marketing Management Process An Overview Concept of Marketing Mix Understanding Marketing Environment Steps in Consumer Decision Making Characteristics of Industrial Markets Market Segmentation Targeting and Positioning Unit II Product Pricing Product Levels Product Mix Product Lines Product Strategy Branding Decisions New Product Development Product Lifecycle Pricing Decisions Pricing Objectives Pricing Methods Price Adjustment Strategies Unit III Place Role and Importance of Intermediaries Types of Channels Major Channel Design Decisions Selecting Motivating and Evaluating Channel Intermediaries Physical Distribution Logistics and Supply Chain Management Unit IV Promotion Promotional Objectives Factors Influencing Choice of Promotional Mix Push vs Pull Strategy Advertising Definition and Importance Comparison of Advertising Media Personal Selling Importance and Process Transaction versus Relationship Selling Sales Promotion Purpose Types Limitations Publicity and Public Relations Definition Importance and Tools Direct Marketing Digital Marketing Types Advantages Challenges 4 Unit 1 Introduction to Marketing Nature Scope and Importance of Marketing Basic Concepts Marketing Philosophies Marketing Management Process An Overview Concept of Marketing Mix Understanding Marketing Environment Steps in Consumer Decision Making Characteristics of Industrial Markets Market Segmentation Targeting and Positioning LESSON 1 NATURE SCOPE AND IMPORTANCE OF MARKETING Most of the people define marketing as selling or advertising It is true that these are parts of the marketing But marketing is much more than advertising and selling Infact marketing comprises of a number of activities which are interlinked and the decision in one area affects the decision in other areas The term market originates from the Latin word Marcatus which means a place where business is conducted A layman regards market as a place where buyers and sellers personally interact and finalise deals A market can be defined as the summation of all the buyers and sellers in an area or region under consideration The area may be a country a region a state a village or a city Marketing is the process of identifying needs and wants of target customers and delivering the product and service to customer for earning profit Marketing is the process of developing and exchanging ideas goods and services that satisfy customer and organizational needs with the help of pricing promotion and distribution Marketing includes all those activities which starts before production and continues even after selling goods to customers Marketing is defined as the activity set of institutions and processes for creating communicating delivering and exchanging offerings that have value for customers clients partners and society at large The American Marketing Association Marketing is the process by which companies create value for customers and build strong customer Philip Kotler Marketing is the act of facilitating the exchange of a given commodity for goods services and or money to deliver maximum value to the consumer From a societal point of view marketing is the link between a society s material requirements and its economic patterns of response Marketing satisfies these needs and wants through both the exchange
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