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PRINCIPLES OF MARKETING

BS (BBA) – V
Course Title : PRINCIPLES OF MARKETING
 Course Number : BA (BS) – 541
Credit Hours: 03

Objective

Marketing is all around us and we all need to understand its importance. The study of marketing is essential not only for manufacturing companies, wholesalers, and retailers but also for all kinds of individuals and organizations. This course will emphasize on learning the basic marketing concepts which revolve around ‘Building and managing profitable customer relationships’. Here students will learn how to analyze consumer needs and wants and to design products for them keeping in mind the major marketing decisions i.e. about product features, price, distribution and promotional strategies. The need to segment markets and building strongly positioned brands will be discussed. Moreover because of technological advancements the importance of marketing in a global scenario will also be discussed.

Course Contents

    1. Marketing: Managing Profitable Customer Relationships
      1.1. Concept of Marketing
      1.2. Marketing Management Philosophies
    2. Company and Marketing Strategy
      2.1. Strategic Planning
      2.2. Marketing Process
    3. The Marketing Environment
      3.1. Micro Environment
      3.2. Macro Environment
    4. Managing Marketing Information
      4.1. Assessing Marketing Information Needs
      4.2. Developing Marketing Information
    5. Consumer Markets and Consumer Buying Behavior
      5.1. Characteristics Affecting Consumer Behavior
      5.2. Types of Buying – Decision Behavior
      5.3. Buyer Decision Process
    6. Business Markets and Business Buyer Behavior
      6.1. Characteristics of Business Markets
      6.2. Types of Buying Situations
      6.3. Participants in the Business Buying Process
    7. Market Segmentation, Target Marketing and Positioning for Competitive Advantage
      7.1. Segmenting Consumer, Business and International Markets
      7.2. Evaluating Market Segments
      7.3. Selecting Target Market Segments
      7.4. Choosing, Communicating and Delivering Positioning Strategies
    8. Product, Services and Branding Strategies
      8.1. Product and Service Decisions
      8.2. Branding Strategies
      8.3. Services Marketing
    9. New Product Development and Product Life Cycle Strategies
      9.1. Steps for Developing a New Product
      9.2. Stages and Strategies of Product Life Cycle
    10. Pricing Considerations, Approaches and Strategies
      10.1. Factors to Consider when Setting Price
      10.2. General Approaches to Pricing
      10.3. New Product Pricing Strategies
      10.4. Product Mix Pricing Strategies
      10.5. Price Adjustment Strategies
    11. Designing Marketing Channels
      11.1. Nature and Importance of Marketing Channels
      11.2. Channel Design and Management Decisions
      11.3. Retailing
      11.4. Wholesaling
      11.5. Transportation
    12. Integrated Marketing Communication
      12.1. Marketing Communication Mix
      12.2. Steps in Developing Effective Communication
      12.3. Setting Total Promotion Budget and Mix

Recommended Books

  1. Brassingtan, F. & Stephen, P. (2006). Principles of Marketing. (4th Edition), Pearson.
  2. Kotler, P. & Armstrong, G. (2008). Principles of Marketing. McGraw–Hill.
  3. McCarthy, E. J. (2001). Basic Marketing. McGraw–Hill.
  4. Stanton, W. J. & Etzel, M. (2002). Fundamental of Marketing. Prentice Hall Inc.