MARKETING MANAGEMENT

Course Objectives

On completion of this course the participants are expected

  • To introduce the student to the building blocks of marketing.
  • To understand consumer behavior through market research and estimate demand.
  • To segment markets, design products and services, strategize competition, through packaging and labeling product options.
  • To select right pricing strategies across intermediaries catering different markets through wholesaling and retailing.
  • To integrate different promotional strategies across the spectrum of marketing platforms offered online and offline.

UNIT I

Introduction to Marketing- Scope-Marketing Concepts-Marketing philosophies- changing Marketplace- role of Marketing in the Organization- Company Orientation towards the Marketplace- Marketing mix- strategic perspective of organizations- value delivery process- Value chain- Marketing Plan.

UNIT II

Components of a Modern Marketing Information System- Marketing Intelligence System- Analyzing the marketing environment- Macro & micro environment- Demand Forecasting- Conducting Marketing Research- Scope- The Marketing Research Process- Marketing Metrics- Building Customer Value, Satisfaction, and Loyalty- Maximizing Customer Lifetime Value-Customer Relationship Management- Consumer Behavior- influencing Factors- The Buying Decision Process- Business Markets- Differentiating factors- Institutional and Government Markets.

UNIT III

Marketing Segmentation- Bases for consumer markets and business markets- Targeting- selection of strategies- Positioning for competitive advantage -Competitive Strategies for Market Leaders- Market-Challenger Strategies- Market-Follower Strategies- Market-Nicher Strategies -Product Life-Cycle stages- Strategies for different stages- Product Characteristics and Classifications- Differentiation- Product and Brand Relationships- The Product Hierarchy-Packaging, Labeling, Warranties, and Guarantees- The Nature of Services-Distinctive Characteristics of Services-Differentiating Services-managing Service Quality- Challenges in New-Product Development process-The Consumer-Adoption Process.

UNIT IV

Understanding Pricing- concepts-determinants-types-Strategies-Consumer Psychology and Pricing- Setting the Price- Pricing Methods- Marketing Channels-Importance-Value Networks- Role- Functions –Levels-Channel-Design Decisions-Channel-Management Decisions-Conflict, Cooperation, and Competition- Managing Retailing-Types- Wholesaling-Market Logistics.

UNIT V

Integrated Marketing Communications-Role-Environment- Mix- Process Models- Channels-Advertising- Sales Promotions-Events and Experiences-Public Relations-Online, Social Media, and Mobile marketing- Word of Mouth- Direct and Database Marketing and Personal Selling-Catalog Marketing- Telemarketing- Designing the Sales Force-objectives and Strategy-Structure Size-Compensation- Relationship Marketing-Internal Marketing- Cause-Related Marketing-Social Marketing -The Future of Marketing.

Learning Resources

  • Philip Kotler, Kevin Lane Keller, “Marketing Management”,15th Edition, Pearson Publications Limited, 2017.
  • RajanSaxena, “Marketing Management”, 5th Edition, Tata McGraw Hill Publishing Co. Ltd., 2017.
  • Ramasamy and Namakumari, “ Marketing Management- Global Perspective- Indian Context”, 5th Edition, Macmillan Publishers India Ltd., 2014.
  • Arun Kumar and Meenakshi, “Marketing Management”, Vikas Publishing House, 2015.

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