DISCIPLINE SPECIFIC COURSE: 3.3(DSC-3.3): PRINCIPLES OF MARKETING B.COM(HONS.) Unit 1: Introduction to Marketing and Marketing Environment (9 hours) Introduction to Marke ting: Scope and Importance; Core concepts of marketing; Marketing Philosophies; Services Marketing, Marketing Mix. Marketing Environment: Need for studying marketing environment; Micro environmental factors- company, suppliers, marketing intermediaries, customers, competitors, publics; Macro environmental factors - demographic, economic, natural, technological, politico-legal and socio- cultural. Unit 2: Consumer Behaviour and Market Selection (9 hours) Consumer Behaviour: Need for studying consumer Behaviour; Stages in Consumer buying decision process; Factors influencing consumer buying decisions. Market Selection: Choosing market value through STP. Market Segmentation- bases of. segmenting consumer markets. Market Targeting, Product Positioning - concept and bases Unit 3: Product Decisions and New Product Development (9 hours) Product Decisions: Concept and classification; Levels of Product. Designing value: Product- mix, Branding- types, significance, and qualities of good brand name; Packaging and Labelling- types and functions; Product support services. New Product Development: New product development process; Product life cycle - concept and marketing strategies. Unit 4: Pricing Decisions and Distribution Decisions (9 hours) Pricing Decisions: Objectives, Factors affecting price of a product, Pricing methods, Pricing strategies. Distribution Decisior Delivering Value: Channels of distribution- types and functions; Wholesaling and retailing; Factors affecting choice of distribution cl hannel; Logistics decisions. (9 hours) Unit 5: Promotion Decisions and Developments in Marketing Promotion Decisions: Communicating Value: Communication process: Importance of nn lic Promotion, Promotion-mix tools advertising: personal selling, sales promotion, publ telations, publicity and direct marketing; Integrated Marketing Communication.Developments in Marketing: Sustainable Marketing- concept and issues. Rural marketing. characteristics and rural marketing mix. Social marketing- concept and issues. Digital marketing: concepts and tools. Brerclees: The learners are required to: 1. Analyse the marketing environment of any. firm of your choice. 2. Prepare a marketing mix for a product of your choice to be targeted 10 8 rural market. 13. Selectany product and analyse it segmentation strategy in comparison tots immediate competitive product. 44. Baamine the marketing strategles followed by companies to prolong the maturity stage and deer Its decline. ‘5. Suggest an appropriate distribution strategy of « product of your choice. 6 Draft promotion mix strategy for « hypothetical e-commerce firCONTENTS . Antroduction to Marketing + Terms Used « Nature/Features of Marketing «Scope of Marketing (Functions of Marketing) + Importance of Marketing * Marketing Philosophies/Marketing Concepts + Difference between Marketing and Selling Concept « Ethical Issues in Marketing « Concluding Note * Questions for Discussion . Marketing Mix ¢ Meaning * Elements of Marketing Mix « Determining the Marketing Mix * Marketing Mix is a Dynamic Concept * Packaging: The 5th P of Marketing * Marketing Mix in Case of Service Industries: 7ps * Services Marketing * Meaning of Services * Characteristics of Services * Concluding Note * Questions for Discussion Marketing Environment ¢ Micro Environment ¢ Company ¢ Suppliers * Marketing Intermediaries * Customers 3.1 - 3.27 2 Awww« Competition ) « Publics | « Macro Environment I « Demographic Environment q « Economic Environment n « Technological Environment B « Politico-Legal Environment 16 ¢ Socio-Cultural Environment 1 « Natural Environment 2 * Need and Importance of Environmental Scanning B « Concluding Note % * Questions for Discussion 6 4./ Consumer Behaviour 41-426 ¢ Definitions of Consumer Behaviour 2 + Need for Studying Consumer Behaviour + Buying Roles of Consumers : 5 * Stages in Consumer Buying Decision Process § * Cognitive Dissonance 16 + Factors Influencing Consumer's Buying Decisions 7 * Concluding Note 6 * Questions for Discussion ra 5. ? Market Segmentation 5.1 - 5.33 Meaning of Market Segmentation 2 * Need for Market Segmentation 3 + Requirements of Effective Segmentation f « Bases for Segmenting Consumer Markets : © Geographic Segmentation * Demographic Segmentation i * Psychographic Segmentation ‘ * Behavioural Bases of Segmentation : + Benefit Segmentation : * Occasion Segmentation : * Usage Rate Segmentation+ Loyalty Segmentation 19 + Market Segmentation Strategies 20 + Factors Affecting the Choice of Segmentation Strategy 24 + The Concept of STP - Segmentation, Targeting, and Positioning 25 + Targeting ~ Identifying Target Markets 26 + Positioning 2B + Bases of Product Positioning 29 + Concluding Note 31 + Questions for Discussion 32 6. Product Decisions 6.1 - 6.39 ‘+ Product - The Concept 2 + Levels of a Product 5 ‘+ Classification of Products a + Product Decisions u + Basic Product Decisions n + Product Mix 12 + Branding 7 + Characteristics of a Good Brand Name 19 «Individual Brand Name Vs. Family Brand Name Strategy 21 «Advantages of Branding 23 «© Packaging 26 + Role and Importance of Packaging in Marketing 27 + Labelling 32 + Functions of Labelling 33 «Types of Labels 35. + Product Support Services 36 + Concluding Note 39 + Questions for Discussion 39 7. Product Life Cycle and New Product Development 7.1 - 7.18 + Product Life Cycle 2 + Factors Affecting PLC 9 + Limitations of the PLC Concept 9 + New Product Development 13+ Why Do New Products Fail? + Concluding Note + Questions for Discussion Pricing Decisions + Importance of Pricing Decision + Pricing Objectives + Factors Affecting Price of a Product + Price Setting In Actual Practice + Cost-Based Pricing Vs. Value-Based Pricing + Pricing Strategies + Cost-Plus Pricing (Mark-Up Pricing) + Break-Even Analysis «Differential Pricing/Price Discrimination + Perceived Value Pricing, + Going Rate Pricing + Tender Pricing + Psychological Pricing Strategy + Loss Leader Pricing + Product Line Pricing + Geographical Pricing + Pricing a New Product + Resale Price Maintenance + Discounts and Allowances + Concluding Note + Questions for Discussion Channels of Distribution and Distribution Logistics «Factors Affecting the Choice of Distribution Channels ‘+ Functions of Middlemen in a Distribution Channel + Types of Middlemen «Wholesalers + Retailers + Elimination of Middlemen ry W i" 81-825 10.3 12,Intensity of Distribution Channel Conflicts Channel Integration Distribution Logistics/Market Logistics Distribution Logistics Decisions Order Processing Warehousing Inventory Management Transportation Significance of Distribution Logistics Decisions ‘Concluding Note Questions for Discussion 10. Retailing 11, Promotion Decisions and Integrated Marketing Communications Store Based Retailing Non-Store Based Retailing Changing Scenario of Retailing in India Retailing in the Evolving Digital Era Concluding Note Questions for Discussion Communication Process Integrated Marketing Communications (IMC) Factors that have Led to the Growth of Integrated Marketing Communications Promotion - An Important Element of the Marketing Mix Push and Pull Strategy of Promotion Factors Affecting Promotion Mix Concluding Note Questions for Discussion 12. Tools of Promotion Advertising Significance of Advertising Criticism of Advertising 18 BSSRURRARLB 33 33 10.1 - 10.23 3 9 2 18 2 23 1-11.19 2 6 10 2 16 7 18 19 12.1 - 12.28 2 2 613. Advertising Objectives Advertising Media Personal Selling Advantages of Personal Selling Qualities of a Good Salesperson What Knowledge Should a Salesperson Possess Buying Motives Personal Selling Process Differences between Advertising and Personal Selling Sales Promotion. Tools of Sales Promotion Publicity Public Relations Direct Marketing Concluding Note Questions for Discussion Developments in Marketing Digital Marketing Sustainable Marketing Rural Marketing Social Marketing Relationship Marketing’ Concluding Note Questions for Discussion