Marketing Management

1
Marketing Management

• Lecture Lesson
• By
• Chinmay Das

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Syllabus

• Module I (10 hours)
• Marketing Management Concept, Process, Functions
  and relevance in the current context.
• Marketing Environment Elements of micro and
  macro environment
• Competition Analysis Factors contributing to
  competition, porters five forces model,
  Identifying and analyzing competitors.
• Marketing Planning Exploring Opportunity,
  Product market selection, Marketing Planning
  Process.
• Market Research and Information Systems Research
  Process, The Internet and World Wide Web based
  Information collection and processing, Database,
  Data Warehouses and Data Mining, Global Market
  Research.
• Consumer Behavior Factors influencing consumer
  behavior, consumer decision process.
  Organizational buying behavior.

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Syllabus

• Module II (10 hours)
• Market Segmentation, Targeting and Positioning
  Definition, Bases of segmenting consumer and
  Industrial markets. Target Market strategies
  Market Positioning.
• Market Demand Forecasting Key Terms, Forecasting
  Tools Short term tools Moving average and
  Exponential smoothing methods, Long-term
  forecasting Tools Time series analysis,
  Econometrics methods, Qualitative tools Buying
  Intention Survey, Sales Force Opinion and Delphi
  Techniques.
• Product Planning Product Life Cycle, New
  Product Development Process, Branding
• Strategy, Positioning a Brand, Brand Equity,
  Packaging and Labeling, Product-mix and Product
  Line, Planned Obsolescence.

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Syllabus

• Module III (10 hours)
• Pricing Decision Objectives and Factors
  influencing pricing, Pricing method and
  strategies.
• Integrated Marketing Communication (IMC)- Concept
  of IMC, the marketing communication process,
  Promotion Mix, elements of promotion mix, Direct
  marketing.
• Channels of Distributions Types of
  intermediaries, functions of distribution
  channels,
• channel levels, Designing Distribution Channels,
  Physical Distribution, Supply Chain
• Management (Basic only).
• Trends in Marketing Green Marketing, Customer
  Relationship Management, E-marketing, Rural
  Marketing and Service Marketing (concepts only)

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Study Materials

• Lecture notes of Chinmay Das
• Text Book
• 1. Etzel , Walker ,Stanton and Pandit, Marketing,
  14/e, Tata McGraw Hill.
• 2. Saxena, Marketing Management Tata McGraw
  Hill, 4/e.
• Reference
• 1. Grewal, Levy, Marketing Tata McGraw Hill,
  special Indian edition.
• 2. Karunakaran Marketing Management, Himalaya
  Publishing House, 2010/e.
• 3. Kotler, Keller,Koshy and Jha, Marketing
  Management, 13/e, Pearson Education.
• Online Resources
• Website of Chinmay Das
• Wikipages at mechanical.abit-wikispaces.com

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• What do you mean by
• Marketing?

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Fundamental Concept

• One can obtain product through anyone of below
  mentioned processes
• Self Production
• Beg, Burrow, Steal or Coerce
• Exchange

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Fundamental Concept

• Marketing can occur any time a person or
  organisation strives to exchange something of
  value with another person or organisation.
• The core of marketing is a transaction or
  exchange.
• It consists of activities designed to generate
  and facilitate exchanges intended to satisfy
  human or organisational needs or wants.

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Preconditions

• Two or more people or organisation must be
  involved, and each must have needs or wants to be
  satisfied.
• Each party must have something of value to
  contribute in the exchange, and each must believe
  that it will benefit from the exchange.
• The parties to the exchange must be involved
  voluntarily.
• The parties must communicate with each other
• ( even through third party) for awareness and
  information.

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Some Definitions

• It is a total system of business activities
  designed to plan, price, promote and place want
  satisfying products to target markets in order to
  achieve organisational objectives.
• Etzel, Walker, Stanton, Pandit
• Marketing is the social process by which
  individuals and organizations obtain what they
  need and want through creating and exchanging
  value with others.
• Kotler and Armstrong (2010)

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Some Definitions

• Marketing is the management process for
  identifying, anticipating and satisfying customer
  requirements profitably.
• The Chartered Institute of Marketing (CIM).
• Marketing is 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.
• American Marketing Association

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Evolution of Marketing

• Product Orientation Stage
• Focus on quality and quantity of outputs
• Customers would seek out and buy reasonably
  priced, well made products.
• Demand is more than supply
• Focus is on efficiency and cost control
• No need to worry about customers wants
  (necessity items)

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Evolution of Marketing

• Sales-Orientation Stage
• Customers have limited resources and numerous
  options.
• How to sale output?
• Advertising consumes large share of resource
• Hard selling, Unfair practice.

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Sales-Orientation Stage

• Firms that follow this philosophy focus on
  "pushing" the product using advertising and
  promotion. Marketing is not selling selling is
  similar to pushing, and marketing is more like
  pulling. A firm that promotes a product heavily
  after it is manufactured is in danger of creating
  a dissatisfied customer. People are very likely
  to be disappointed in the products performance.
  A dissatisfied customer is likely to complain to
  ten others about a bad experience with a product.

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Evolution of Marketing

• Market Orientation Stage
• If a firm wants to achieve its goals it has to
  focus on satisfying the needs of its customers.
  These goals do not necessarily have to relate to
  profit earned by the organisation. Libraries,
  politicians, colleges, hospitals, and many other
  kinds of organizations should be
  marketing-oriented. If a firm focuses on
  satisfying the needs of its customers, it does
  not have to "push" its product. The public will
  demand the product and "pull" it through the
  channel of distribution.

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Evolution of Marketing

• The marketing concept is based on three beliefs
• Customer orientation
• Coordinated activities
• Organisational Performance Objectives

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Evolution of Marketing

• Product Concept Stage
• Focusing too much on ones product and trying to
  make it the best-performing product in the market
  via improvements can also be dangerous.
• The public does not want rail transportation, it
  wants fast, inexpensive, and convenient
  transportation.
• Much of their business was taken away by newer
  modes of travel (planes stole much of their
  passenger business planes and trucks took away a
  great deal of their freight shipping business). 

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Evolution of Marketing

• Consumers want energy, not necessarily oil
  education, not necessarily in classrooms
  communication, not necessarily by telephone
  music, not necessarily on cassettes and
  entertainment, not necessarily films or
  television.
• It is dangerous to define one's business too
  narrowly the way the railroads did.

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Product Concept Stage

• Marketing myopia is a term coined by Theodore
  Levitt .

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Evolution of Marketing

• Societal Marketing Concept
• Win-Win situation for all stake holders
• Marketing Strategy compatible with Social
  Responsibility
• This requires more time, technology and skill

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Implementation of Marketing Concepts

• Customer Orientation
• - Relationships
• - Mass customization
• Coordinated Marketing Activities
• -Quality
• - Value creation
• Organisational Objectives
• - Performance objectives

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A Facebook Collection

• A Professor explained Marketing to MBA students
• You see gorgeous girl in party, you go to her
  say I am rich marry me That's Direct Marketing.
• You attend party your friend goes to a girl
  pointing at you tells her. He' is very rich,
  marry him - That's Advertising.
• Girl walks to you says u are rich, ca...n u
  marry me? "That's Brand Recognition"
• You say I m very rich marry me she slaps u
  "That's Customer Feedback"
• You say I m very rich marry me she introduces
  you to her husband "That's Demand Supply Gap"
• Before you say I m rich, marry me, your wife
  arrives That's Restriction from Entering New
  Market.

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• Thank You.