Marketing Management

Chapter 1: Introduction to Marketing

1.1.        

Marketing

11

1.1.1.

Meaning and Definition of Marketing

11

1.1.2.

Nature of Marketing

11

1.1.3.

Scope of Marketing

12

1.1.4.

Marketing Tasks/ Functions

13

1.1.5.

Importance of Marketing

14

1.1.6.

Selling versus Marketing

15

1.2.

Evolution of Marketing

16

1.2.1.

Introduction

16

1.2.2.

Production Orientation

17

1.2.3.

Product Orientation

17

1.2.4.

Sales Orientation

18

1.2.5.

Marketing Orientation: Modern Concept of Marketing

18

1.2.6.

Sustainability Orientation: Societal Marketing Orientation

19

1.2.7.

Holistic Marketing Orientation

19

1.2.8.

Relational Marketing Orientation

20

1.2.9.

Traditional Vs. Modern Concept of Marketing

21

1.3.

Marketing Management

22

1.3.1.

Introduction

22

1.3.2.

Objectives of Marketing Management

22

1.3.3.

Functions of Marketing Management

23

1.3.4.

Process of Marketing Management

24

1.4.

Ethics in Marketing

25

1.4.1.

Introduction

25

1.4.2.

Ethical Norms and Values for Marketers

25

1.4.3.

Ethical Issues in Marketing

26

1.5.

Information Technology (IT) in Marketing

28

1.5.1.

Introduction

28

1.5.2.

Role of Information Technology in Marketing

28

1.5.3.

Advantages of IT in Marketing

29

1.5.4.

Disadvantages of IT in Marketing

30

1.6.

Dynamic Marketing Environment

30

1.6.1.

Concept of Marketing Environment

30

1.6.2.

Factors Affecting Marketing Environment

31

1.6.3.

Internal Marketing Environment

31

1.6.4.

External Marketing Environment

32

1.6.5.

Micro Environment

32

1.6.6.

Macro Environment

33

1.6.6.1.

Political Environment

33

1.6.6.2.

Economic Environment

35

1.6.6.3.

Socio-Cultural Environment

35

1.6.6.4.

Technological Environment

37

1.6.6.5.

Demographic Environment

38

1.6.6.6.

Natural Environment

39

1.6.6.7.

Legal Environment

39

1.6.7.

Process of Marketing Environment Analysis

40

1.6.8.

Significance of Marketing Environment Analysis

41

1.7.

Exercise

41

Chapter 2 Understanding Marketing Aspects

2.1.

Marketing Mix

42

2.1.1.

Meaning and Definition of Marketing Mix

42

2.1.2.

Marketing Mix Elements

42

2.1.3.

Importance of Marketing Mix

43

2.1.4.

Factors Affecting Marketing Mix

43

2.2.

Target Marketing: STP Approach

44

2.2.1.

Introduction

44

2.2.2.

Steps in Target Marketing

45

2.3.

Market Segmentation

45

2.3.1.

Meaning and Concept of Market Segmentation

45

2.3.2.

Bases for Market Segmentation

46

2.3.3.

Types/Levels of Market Segmentation

49

2.3.4.

Benefits of Market Segmentation

49

2.4.

Targeting

50

2.4.1.

Meaning and Definition of Targeting

50

2.4.2.

Process of Targeting the Market

50

2.4.3.

Basis for Identifying Target Customers

51

2.4.4.

Selection of Target Markets: Target Market Strategies

51

2.4.4.1.

Limited Market Coverage Targeting

51

2.4.4.2.

Full Market Coverage Targeting

52

2.4.5.

Importance of Targeting

53

2.5.

Positioning

54

2.5.1.

Meaning and Definition of Positioning

54

2.5.2.

Process of Positioning

54

2.5.3.

Positioning Strategies

55

2.5.4.

Importance of Positioning

56

2.6.

Marketing Information System (MkIS)

56

2.6.1.

Concept of MkIS

56

2.6.2.

Components of Marketing Information System

57

2.6.3.