Basics of Marketing

                                                                                                       Syllabus

BASICS OF MARKETING

Unit 1: Introduction to Marketing

Definition & Functions of Marketing: Scope of Marketing, Evolution of Marketing, Core concepts of marketing – Need, Want, Demand, Customer Value, Exchange, Customer Satisfaction, Customer Delight, Customer loyalty, Concepts of Markets, Marketing V/S Market Competition, Key Customoer Markets, Market places, Market Spaces, Meta-markets, Digital Markets, Brick & Click Model. Implact of Globalisation, Technology and Social Respoensibility on Marketing. New Consumer Capabilities, New Company Capabilities. Functions of Marketing Manager. Linkage of Marketing Functions with all Functions in the Organisation. Company Orientation towards Market Place,

Product-Production-Sales-Marketing-Societal-Relational, Holistic Marketing Orientation. Selling versus Marketing. Concept of Marketing Myopia. Marketing Process, Understanding Marketing as Creating, Communicating and Delivering Value.                                                                                                                                (5+2)

Unit 2: Marketing Environment: Concept of Environment, Macro Environment & Micro Environment – Components and Characteristics, Need & Trends, Major Forces Impacting the Macro Environment & Micro Environment, Need for Analysing the Marketing Environment. Analysing the Political, Economic, Socio-cultural, Technical and Legal Environment. Demographics.                                                                                                              (5+2)

Unit 3: Segmentation, Target Marketing & Positioning: Segmentation-Concept, Need & Benefits. Geographic, Demographic, Psychographic, Behavioural Bases of Segmentation for Consumer Goods and Services. Bases for Segmentation for Business Markets. Levels of Segmentation, Criteria for Effective Segmentation. Market Potential & Market Share. Target Market-Concept of Target Markets and Criteria for Selection. Segment Marketing, Niche & Local Marketing, Mass Marketing, Long Tail Marketing. Positioning-Concept of Differentiation & Positioning, Value Proposition & Unique Selling Proposition                                                                                           (8+2)

Unit 4: Consumer Behavior: Meaning & Importance of Consumer Behavior, Comparison between Organisational Buying Behavior and Consumer Buying Behavior, Buying Roles, Five Steps Consumer Buyer Decision Process-Problem Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, Post Purchase Behavior, Moment of Truth, Zero Moment of Truth, ZMOT, Moderating Effects on Consumer Behavior.        (7+2)

Unit 5: Marketing Mix: Origin & Concept of Marketing Mix, 7P’s – Product, Prize, Place, Promotion, People, Process, Physical Evidence, Product Life Cycle: Concept & Characteristics of Product Life Cycle (PLC), Relevance of PLC, Types of PLC and Strategies across Stages of the PLC.                                                                     (10+2)

Note: Real World Examples/Cases are expected to be analysed in the class as well as included in the examination