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DBA 1652 Marketing ManagementUNIT -- I

UnitNo.Unit Title Page No.

1 Marketing management – an introduction2 Marketing environment3 Marketing with other functional areas of management4 Market segmentation5 Market targeting and positioning6 Product management7 Brand management8 Pricing9 Channel design and management10 Retailing and Wholesaling11 Integrated Marketing Communication12 Advertising management13 Sales promotion14 Personal selling15 Public relations16 Understanding individual consumer behaviour17 Understanding industrial consumer behaviour18 Customer satisfaction19 Customer relationship management20 Marketing of services21 Rural marketing22 Types of marketing research23 Process of marketing research24 Tools and Techniques of marketing research25 Applications of marketing research26 Preparation of marketing research report27 Online marketing28 E-commerce29 Trends in marketing

Marketing management – an introduction

Unit structure:1. Introduction

2. Learning Objectives3. Marketing Management

Evolution of marketing management 3.2. The Role of Marketing

3.3. Marketing concepts 3.4. The Marketing Mix (The 4 P's Of Marketing)

3.5. Corporate Social Responsibility (CSR) and Ethics in Marketing

4. Have you understood type questions5. Summary6. Exercises7. References

1. INTRODUCTION:

The apex body in United States of America for the Marketing functions,American Marketing Association(AMA) defines marketing as “Marketing consists of those activities involved in the flow of goods and services from the point of production tothe point of consumption". The AMA has since amended its definition to read as:“Marketing is an organizational function and a set of processes for creating,communicating, and delivering value to customers and for managing customerrelationships in ways that benefit the organization and its stakeholders."

Hence it can be surmised that marketing is basically meeting unmet needsfor target markets, identifying those unmet needs and planning how to meet themthrough products, services, and ideas. Communicating the value to them alongwith pricing which is affordable and profitable and also distributing the productsso that customers have appropriate accessibility and have quick and easydelivery. Marketing is thus the process of planning and executing the conception,pricing, promotion, and distribution of ideas, goods and services to createexchanges (with customers) that satisfy individual and organizational objectives.

2. LEARNING OBJECTIVES:

After reading the unit, you will understand how:

•

To learn the evolution of marketing as a discipline

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To understand the reasons why marketing is considered important in this era

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To assess the various marketing approaches and principles

3. MARKETING MANAGEMENT:

Marketing has evolved into a very important functional area in managementbasically due to the increasing supply and lower demand over the years. This is primarilythrough the competitive intensity in every sphere of the market. When competitionincreases, as you know, every firm wants to be heard in the market. This will make the

firms to be different than the competitors. Hence marketing becomes a very importantfunctional area for every firm where the competition is very high.

In a business firm, marketing generates the revenues that are managed byfinancial people and used by the productions people in creating products orservices. The challenge of marketing is to generate that revenue by satisfyingconsumers wants at a profit and in a socially responsible manner. Marketing isnot limited to business. Whenever you try to persuade somebody to dosomething you are engaging in marketing. Thus marketing has a broad societalmeaning. In fact, the societal view is more truly descriptive of marketing today.Moreover, modern business marketing activities are to a large extent, aconsequence of the societal view of marketing.The essence of marketing is a transaction, an exchange intended to satisfyhuman needs or wants. Consequently, marketing occurs any time on societallimit strive to exchange something of value with another social unit. Marketingconsists of all the activities to facilitate the exchange.Within this societal perspective, then (1) the makers (2) what they are marketingand (3) their potential markets all assume broad dimensions. The category ofmarketers might include, in addition to business firms, such diverse social unitsas (a) a political party trying to market its candidate to the public (b) the directorof an art museum providing new exhibits to generate greater attendance andfinancial support (c) a labor union marketing its idea to members and to companymanagement; and (d) professors trying to make their courses interesting forstudents.In addition to the range of items normally considered as products and services,what is being marketed might include (a) ideas such as reducing air pollution orcontributing to the red cross (b) people, such as new football coach or a politicalcandidate and (c) places, such as industrial plant sites or a place to for avocation.In a broad sense markets include more than the direct consumers of productsservices and ideas. Thus a state university’s market includes the legislators whoprovide funds, the citizens living near the university who may be affected byuniversity activities and the alumni. A business firms market may includegovernment regulatory agencies, environmentalists, and local tax assessors.

Definition of Marketing

As you already know there are many definitions for marketing. Some definitions focus onmarketing as the process involved in satisfying the needs of a particular market, whileother definitions lean more toward defining marketing in terms of its most visiblefunctional areas, such as advertising and product development. There probably is no onebest way to define marketing, though whatever definition is used should have an