Fundamentals of Marketing
Objective of the course:
On completion of the course students should be able:
- To have an awareness on market , market segments and consumer behaviour
- To know the meaning and importance of product mix.
- To understand pricing policies and the applicability of different pricing strategies
- To know the scope of advertising and sales promotion
- To identify and develop salesmanship in them Course Outline
Unit 01: Introduction: meaning and definition of different marketing concepts; functions of marketing – environmental factors – market segmentation – buying motive and process; consumer and customer – factors affecting consumer behavior – marketing plan.
Unit 02: Marketing mix: Marketing mix, meaning – product, product mix- – product life cycle – importance of branding -packaging and labelling
Unit 03: Pricing: Pricing policies, objectives, factors influencing pricing decisions – different pricing strategies: skimming- penetration Market structure, channel of distribution and its importance
Unit 04: Promotion Advertising, objectives and functions – types of advertising – personal selling and direct marketing – sales promotion
Unit 05: Marketing research, definition, scope and process. Marketing risk and marketing audit
Books for Reference:
- Marketing Management: Philip Kotler, Jha& Koshy Pearson Education, New Delhi
- Marketing-Planning implementation and control Philip Kotler Prentice Hall
- Marketing Management Text and Cases SHH Kazmi Excel Books, New Delhi
- Marketing Management V. S Ramaswami S. Namakumary MacMillan Publishers, New Delhi
- Marketing Management CranfieldAne Books, New Delhi
- Marketing Research D. D Sharma Sultan Chand And Sons
- A Framework for Marketing management Philip Kotler &Kevin Keller Pearson, 5th edition
- Marketing management Biplab S Bose Himalaya Publishing House, Mumbai
Marketing is the process by which manufacturers of goods and services aim to find out where a demand exists for certain services and products and then find solutions to those needs as well as the way to make consumers aware of the solutions. Marketing is the aspect of business which is most consumer focused as all of the principles of marketing relate directly to the consumer.
The principles of marketing follow a logical sequence. First, a target market (group of consumer)of a particular product or service must be identified. Knowing who uses a given product or service is essential to determining what that consumer wants and how to get it to them. This is essential for companies operating in the free market as success depends upon identifying and retaining customers in order to remain profitable and ensure business growth.