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Punjab College of Commerce

Course Code: Program: M.com Credit Hours: 3

Course Title: Principles of Marketing First Semester Total Sessions: 32

Course Description: The Marketing provides the interface between the customer and the firm in which the customer has become pivotal to the success of business activities. The marketers role is to develop an understanding of the customer and then use a variety of tools to design, promote and deliver attractive value packages. New media is influencing, determining and reflecting structural changes in the way a business conducts its marketing activities. Customized one-to-one marketing has displaced mass standardization and relationship building has become a major commitment for many organizations.

This course explores how traditional marketing concepts are converging in the digital economy to create and retain customer loyalties. An opportunity to study several situations in which effective electronic marketing strategies can be developed is provided through group discussion and case studies.. Learning Objectives: After studying this course the students should be able: a. To provide an understanding of and appreciation for the role of marketing in managing a business. b. To share his/her experience of the concepts and skills utilized by today's marketing managers. c. To describe the major elements of marketing process, including the influence of external environments on marketing, marketing research, consumer

behavior, market segmentation, product strategy, distribution strategy, promotion strategy, pricing strategy, and positioning strategy. d. To understand the advances in information technology that is shaping new marketing opportunities and strategies. e. To understand the increasingly intense competition that is affecting the global markets. Recommended Text Book: Principles of Marketing By: Supplementary Text Books: Philip Kotler & Kevin Lane Keller

Course Contents: Introduction to Marketing Management Marketing defined, needs, wants, exchange, transactions and relationships, markets, 4Ps of marketing; Market Segmentation; levels of market segmentation; evaluating and selecting market segment; market targeting; positioning product in the market. Product and Service Strategy What is a product and product life cycle. The product service continuum; levels of product; product classifications: consumer products, industrial products, organisations, persons, places and ideas; individual product decision; product attributes: branding, packaging, labeling, product support services; product line decisions; product mix decisions; services marketing; nature and characteristics of aservice. Pricing Product: Pricing Considerations approaches and Pricing Strategies General pricing approaches: cost-based pricing, value-based pricing, and competition-based pricing; new-product pricing strategies; market-skimming pricing, market-penetration pricing; product mix pricing strategies: product-line pricing,

optional-product pricing, captive-product pricing, by-product pricing, product bundle pricing; price-adjustment strategies: discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing, geographical pricing, international pricing; price changes; initiating price changes, responding to the price changes. Advertising, Sales Promotion and Public Relations Major decisions in advertising: organising for advertising; setting objectives; setting the advertising budget; advertising strategy; advertising evaluation; international advertising decisions; sales promotion: rapid growth of sales promotion; setting salespromotion objectives; selecting salespromotion tools; developing the salespromotion programme, public relations; major public relations tools. Distribution Channels and Logistic Management The nature of distribution channels; why are marketing intermediaries used? Distribution channel functions, number of channel levels; channel behaviour and organisation; vertical marketing systems, horizontal marketing systems, hybrid marketing systems; physical distribution and logistics management: nature and importance of physical distribution and marketing logistics; goals of the logistic functions; integrated logistics management. Other Topics in Marketing Management Marketing research; Marketing in the Digital Age; major Forces shaping the digital age; marketing strategy in the digital age; Emarketing domains; conducting e-commerce, consumer and business buyer behavior