MARKETING MANAGEMENT

UNIT 1

MARCH 30, 2023

AHSAN AHAMD
 MM
UNIT 1
New Product Development: Need for new product development

New product development is critical for the success and growth of any
business. There are several reasons why businesses need to engage in new
product development:
➢ Meeting customer needs: Customers are always looking for new and improved
products that meet their changing needs and preferences. By developing new
products, businesses can stay ahead of their competitors and provide their
customers with the products they want.
➢ Expanding market share: Developing new products can help businesses to expand
their market share by reaching out to new customer segments or by offering a
wider range of products to existing customers.
➢ Staying relevant: Markets are constantly evolving, and businesses need to adapt to
these changes to stay relevant. By developing new products, businesses can keep
up with changing market trends and stay ahead of their competitors.
➢ Generating revenue: New products can provide businesses with additional revenue
streams, which can be critical for long-term growth and profitability.
➢ Enhancing brand image: Developing innovative products can enhance a business's
brand image and reputation, making it more attractive to customers and investors.
➢ Addressing technological advancements: New products may incorporate the latest
technological advancements, which can help businesses to remain competitive in
their industries.
Overall, new product development is essential for businesses that want to stay
competitive, relevant, and profitable in today's dynamic markets.

EXAMPLE- APPLE
Booz Allen &Hamilton Classification Scheme for New Products New Product Development
Process: Idea Generation to commercialization.

Booz Allen & Hamilton is a consulting firm that developed a classification

scheme for new products, which is still widely used today. The scheme
categorizes new products based on the degree of innovation and the extent
of market familiarity. The four categories are:

➢ New-to-the-world products: These are products that are completely new to the
market, and consumers have never seen or heard of them before. Examples include
the first personal computers, the first electric cars, or the first smartphones.
➢ New product lines: These are products that are new to a company but not to the
market. Examples include a new flavor of soda or a new model of car from an
existing brand. Tata Motors EV
➢ Product line extensions: These are products that are variations of existing products,
such as a new flavor of chips or a new color of lipstick.
➢ Product improvements: These are products that are updated or improved versions
of existing products, such as a faster computer or a lighter vacuum cleaner.
The new product development process typically involves the following stages:
➢ Idea generation: This is the stage where new product ideas are generated. Ideas can
come from various sources such as customers, employees, market research, or
brainstorming sessions.
➢ Idea screening: This stage involves evaluating the feasibility and potential of the new
product ideas. Some ideas may be discarded, while others may be further
developed.
➢ Concept development: This is the stage where the new product idea is developed
into a concept. This includes creating a detailed description of the product, defining
its features and benefits, and identifying its target market.
➢ Business analysis: This stage involves analyzing the financial viability of the new
product, including the estimated costs, sales projections, and profit margins.
➢ Product development: This is the stage where the new product is designed,
developed, and tested. This includes creating prototypes, conducting product
testing, and making necessary adjustments.
➢ Test marketing: This stage involves launching the new product in a limited market to
test its performance and gather feedback from customers.
➢ Commercialization: This is the final stage where the new product is launched in the
market on a larger scale, with a full marketing and advertising campaign to support
it. BOAT Earphone and Speaker

Overall, the new product development process is a complex and iterative process that
involves multiple stages and requires careful planning, research, and execution.
Branding: Introduction to Branding, Product Vs. Brand, Meaning of a brand, brand
equity & brand elements

Branding refers to the process of creating a unique name, design, symbol, or

other visual or non-visual elements that differentiate a product or service from
its competitors in the market. Branding is a critical component of marketing
strategy, as it helps to build brand awareness, loyalty, and equity.
Product versus Brand: A product refers to a physical item or service that is
being sold to customers, while a brand encompasses the emotional and
psychological associations that consumers have with a product. While a
product is tangible, a brand is intangible, representing the reputation and
overall perception of the product or service.
Meaning of a brand: A brand is a set of associations that consumers have with
a product or service, including its name, logo, design, packaging, and other
visual and non-visual elements. A strong brand can communicate quality,
reliability, and trust, which can help to build customer loyalty and drive sales.
Brand equity: Brand equity refers to the value that a brand adds to a product
or service. This value can come from several sources, such as the brand's
reputation, perceived quality, customer loyalty, and brand awareness. Strong
brand equity can help to increase a company's market share, improve its
financial performance, and create a competitive advantage.
Brand elements: Brand elements are the visual and non-visual components
that make up a brand's identity, such as its name, logo, packaging, colors,
slogans, and other distinguishing features. These elements help to create a
consistent and recognizable image for the brand, which can enhance brand
awareness and equity over time.
In conclusion, branding is an essential aspect of marketing that can help to
differentiate a product or service from its competitors, build customer loyalty,
and drive sales. A strong brand can add significant value to a product or
service, and brand elements play a critical role in creating a consistent and
recognizable brand identity.
Packaging & Labeling: Meaning & role of Packaging & Labelling,
Primary, and Secondary & Shipment packages

Packaging and labelling are important components of a product's marketing

and distribution strategy.
Packaging refers to the process of designing and creating a container or wrapping
for a product that protects it during transportation, storage, and handling.
Packaging also serves as a means of communication, providing information about
the product, such as its features, ingredients, and instructions for use.
Labelling refers to the process of attaching a label or tag to a product or its
packaging. Labels contain important information such as the product name,
ingredients, nutritional information, and safety warnings.
The primary role of packaging and labelling is to protect the product from damage
and contamination during transportation, storage, and handling. Packaging and
labelling also serve as a means of communication, providing important information
about the product to consumers and retailers.
Primary packaging refers to the container or wrapping that comes into direct
contact with the product, such as a bottle, can, or box. The primary packaging is
designed to protect the product from damage and contamination, as well as to
provide convenience and ease of use for the consumer.
Secondary packaging refers to the packaging that holds the primary packaging
together, such as a box or carton. Secondary packaging serves as an additional
layer of protection for the product during transportation and storage, as well as a
means of branding and communication.
Shipment packaging refers to the packaging that is used to transport the product
from the manufacturer to the retailer or end-user. Shipment packaging is designed
to protect the product from damage and contamination during transportation and
handling, and it also serves as a means of branding and communication.
In conclusion, packaging and labelling play an important role in the marketing and
distribution of products. They serve as a means of protection, communication, and
branding, and can significantly impact a product's success in the market.
Product Life Cycle: Concept & characteristics of Product Life Cycle,
Relevance of PLC, Types of PLC and Strategies across stages of the PLC

Product life cycle (PLC) refers to the stages that a product goes through from
its introduction to its decline in the market. The concept of PLC is important
in marketing as it helps companies understand the changes in sales and
profitability that occur over the product's life span.
Characteristics of Product Life Cycle:
1. Introduction: This is the stage when the product is launched into the market, and
sales are low as the product is unfamiliar to consumers.
2. Growth: In this stage, sales increase rapidly, and the product gains acceptance
among consumers.
3. Maturity: Sales growth slows down, and the product reaches its peak in terms of
market penetration and sales.
4. Decline: In this stage, sales begin to decline, and the product is replaced by newer,
more innovative products.

Relevance of PLC: Understanding the product life cycle is important as it

helps companies to make strategic decisions about their products.
Companies can use the product life cycle to identify the stage their product is
in, anticipate changes in the market, and plan marketing strategies
accordingly.
Types of PLC:
1. Standard PLC: This refers to the typical life cycle of a product, with a predictable
pattern of growth, maturity, and decline.
2. High-Low PLC: This refers to a product with a short life span that experiences rapid
growth and decline, such as fashion trends or seasonal products.
3. Reverse PLC: This refers to a product that experiences slow growth at first, but gains
popularity and sales over time, such as organic foods or eco-friendly products.
Strategies across stages of the PLC:
1. Introduction: Companies should focus on creating awareness and generating interest
in the product through advertising and promotional activities.
2. Growth: Companies should focus on building brand loyalty and increasing market
share by improving product quality and expanding distribution channels.
3. Maturity: Companies should focus on maintaining market share and profitability by
differentiating the product, reducing costs, and entering new markets.
4. Decline: Companies should consider phasing out the product or repositioning it in
the market by making changes to the product or changing the target market.

In conclusion, understanding the product life cycle is critical in making

strategic decisions about a product. Companies can use the different stages
of the product life cycle to plan marketing strategies, anticipate changes in
the market, and make decisions about the future of the product
MARKETING MANAGEMENT
UNIT 2 & 3

[DATE]
30-03-2023
AHSAN AHAMD
 MM
UNIT – 2

PRICE: Pricing Basics meaning, Importance and Factors influencing pricing decisions

Pricing refers to the process of determining the monetary value of a product or service. It is
a critical aspect of marketing as it directly affects a company's revenue and profitability.
Pricing Basics: Pricing involves setting the right price for a product or service that balances
the needs of the customer and the company's profitability. It requires consideration of
various factors such as production costs, competition, target market, and consumer
behaviour.
Importance of Pricing: Pricing is important for several reasons:
1. Revenue and profitability: The price of a product or service directly affects the
revenue and profitability of a company.
2. Competitive advantage: Pricing can be used to create a competitive advantage by
offering better value for money than competitors.
3. Brand image: Pricing can affect the brand image of a product or service. A higher
price can create the perception of quality and exclusivity, while a lower price can
create the perception of value and affordability.
Factors Influencing Pricing Decisions: Several factors influence pricing decisions, including:
1. Production costs: The cost of producing a product or service is a critical factor in setting the
price.
2. Competition: The pricing strategy of competitors can affect the pricing decisions of a
company.
3. Consumer behavior: Understanding consumer behavior, such as their willingness to pay and
price sensitivity, is essential in setting the right price.
4. Market demand: The level of demand for a product or service can affect pricing decisions.
5. Marketing objectives: Pricing decisions should align with the marketing objectives of a
company, such as maximizing revenue or market share.

In conclusion, pricing is an important aspect of marketing that requires consideration of

various factors such as production costs, competition, target market, and consumer
behavior. The right pricing strategy can help a company achieve its marketing objectives
and create a competitive advantage.
Setting the Price: Setting pricing objectives, determining demand, estimating costs,
analyzing competitors’ pricing, selecting pricing method, Selecting final price.

Setting the price of a product or service can be a complex process that involves several
steps. Here are some steps to consider when setting the price:
1. Setting Pricing Objectives: The first step in setting a price is to determine the pricing
objectives. Pricing objectives could be maximizing profits, increasing market share, meeting
competitors' prices, etc.
2. Determining Demand: The next step is to determine the demand for the product or service.
This can be done by conducting market research, analyzing historical sales data, or surveying
potential customers. The demand for the product or service will help determine the price
sensitivity of customers.
3. Estimating Costs: It is important to estimate the costs associated with producing and selling
the product or service. This includes the cost of materials, labor, overhead, and other
expenses. This information is essential for determining the minimum price at which the
product or service can be sold while still making a profit.
4. Analyzing Competitors’ Pricing: The next step is to analyze the pricing strategies of
competitors. This will help determine the market positioning of the product or service and
inform decisions about pricing.
5. Selecting Pricing Method: There are several pricing methods to choose from, including cost-
plus pricing, value-based pricing, skimming pricing, penetration pricing, etc. The pricing
method should align with the pricing objectives and the market positioning of the product or
service.
6. Selecting Final Price: Once all of the above steps have been completed, the final step is to
select the price. This should be based on a balance between the pricing objectives, demand,
costs, competitors' pricing, and the selected pricing method.

It is important to note that pricing is not a one-time decision and may need to be adjusted
over time based on changes in the market or business conditions.
Adapting the Price: Geographical pricing, Price discounts & allowances,
Promotional pricing, differentiated pricing.
Adapting the price is a crucial aspect of pricing strategy, and there are several ways to do
it. Here are some common approaches:
1. Geographical pricing: This involves setting different prices for the same product or
service in different geographic locations. The rationale behind this approach is that
different regions have different demand levels, market conditions, and competitive
environments. As such, businesses may adjust their pricing to reflect these
differences.
For example, a company may charge a higher price for its products in areas with higher
income levels, while lowering the price in regions with lower income levels.
2. Price discounts and allowances: This approach involves offering price reductions to
customers for various reasons. For instance, a business may offer a discount to
customers who buy in bulk, make early payments, or have a long-standing
relationship with the company.
Price allowances, on the other hand, involve giving customers a discount for performing a
specific action, such as returning an old product, trading in an old item, or promoting the
product on social media.
3. Promotional pricing: This involves offering temporary price reductions to customers
to encourage them to buy a product or service. This approach is commonly used
during special events, holidays, or other occasions when consumers are likely to buy
more.
Examples of promotional pricing include buy-one-get-one-free deals, price matching, and
limited-time discounts.

4. Differentiated pricing: This approach involves setting different prices for

different segments of customers based on factors such as their
willingness to pay, their perceived value of the product or service, or
their level of loyalty to the brand. This approach aims to maximize
revenue by charging higher prices to those customers who are willing
and able to pay more.
Examples of differentiated pricing include tiered pricing (offering different pricing plans for
different levels of service), dynamic pricing (adjusting prices in real-time based on demand
levels), and personalized pricing (offering unique prices to individual customers based on
their buying history, preferences, or behavior).
In summary, adapting the price is an essential aspect of pricing strategy, and businesses can
use various approaches, including geographical pricing, price discounts and allowances,
promotional pricing, and differentiated pricing, to achieve their objectives.
 Price Change: Initiating & responding to price changes.
Price changes are a common part of marketing strategies and can be initiated by businesses for
various reasons, such as to increase sales, respond to market changes, or maintain profitability.
Here's an overview of how businesses can initiate and respond to price changes:

Initiating Price Changes:

1. Set clear objectives: Before initiating any price changes, businesses need to set
clear objectives for what they hope to achieve. This could be to increase sales
volume, improve profit margins, or respond to competitive pressures.
2. Conduct market research: Businesses should conduct market research to
gather information on consumer demand, competitor pricing, and overall
market conditions. This information can help businesses determine the
optimal price point for their products or services.
3. Determine the impact: Before making any price changes, businesses should
consider the potential impact on their revenue, profit margins, and customer
base. Price changes can have both positive and negative effects, and
businesses should weigh the potential risks and benefits.
4. Communicate the change: Once a decision has been made to change prices,
businesses should communicate the change to their customers and
stakeholders. This can be done through marketing campaigns, email
notifications, or in-store signage.

Responding to Price Changes:

1. Monitor the market: Businesses should continuously monitor the market and
their competitors' pricing to stay aware of any changes that could impact their
own pricing strategies.
2. Evaluate the impact: If a competitor changes their pricing, businesses should
evaluate the impact on their own sales and profit margins. Depending on the
impact, businesses may need to respond with their own price changes.
3. Determine the appropriate response: If a response is necessary, businesses
should determine the appropriate action to take. This could include matching
the competitor's price, offering a discount or promotion, or emphasizing the
unique value proposition of their products or services.
4. Communicate the change: As with initiating price changes, businesses should
communicate any changes in pricing to their customers and stakeholders to
ensure transparency and maintain customer trust.
In conclusion, initiating and responding to price changes requires careful consideration of
market conditions, customer demand, and competitive pressures. By setting clear
objectives, conducting market research, and communicating changes effectively,
businesses can effectively manage price changes and maintain profitability.
 UNIT – 3

PLACE: The Role of Marketing Channels: Channel functions & flows, channel levels.

Marketing channels, also known as distribution channels, play a crucial role in

getting a product or service to its intended customers. A marketing channel
consists of various intermediaries that help to move the product or service from
the manufacturer to the end consumer. Here are some important aspects of
marketing channels:
1. Channel functions: Marketing channels perform various functions that help to
facilitate the flow of goods and services from producers to consumers. These
functions include:
• Physical distribution: The movement and storage of products, including
transportation, warehousing, and inventory management.
• Financing: The provision of credit and payment terms to customers and the financing
of channel intermediaries.
• Risk-taking: The assumption of financial risks associated with holding inventory or
extending credit to customers.
• Information: The collection and dissemination of market research, customer
feedback, and other relevant data to inform marketing decisions.
• Promotion: The creation and execution of promotional campaigns and other
marketing communications to support the sale of products.
2. Channel flows: Marketing channels involve the flow of products, services, and
information between different channel intermediaries. There are three main
types of channel flows:
• Forward flow: The movement of goods and services from the manufacturer to the
end customer.
• Backward flow: The movement of information, feedback, and returns from the end
customer to the manufacturer.
• Lateral flow: The movement of goods and services between different intermediaries
within the same marketing channel.
3. Channel levels: Marketing channels can be classified into different levels based
on the number of intermediaries between the manufacturer and the end
customer. The main channel levels are:
• Direct marketing channels: Channels that involve no intermediaries between the
manufacturer and the end customer. Examples include online sales and direct mail.
• Indirect marketing channels: Channels that involve one or more intermediaries
between the manufacturer and the end customer. Examples include wholesalers,
retailers, and distributors.
 • Multichannel marketing: A strategy that involves using multiple channels to reach
customers, such as a combination of direct and indirect channels.
In summary, marketing channels play a crucial role in getting a product or service to its
intended customers. They perform various functions, including physical distribution,
financing, risk-taking, information, and promotion. There are different types of channel
flows, including forward, backward, and lateral flows, and marketing channels can be
classified into different levels based on the number of intermediaries involved.

Channel Design Decisions: Analyzing customers’ desired service output levels,

establishing objectives &constraints, Identifying & evaluating major channel
alternatives Channel Options

Channel design decisions refer to the process of selecting the appropriate channels of distribution
for a product or service. The process involves analyzing customers' desired service output levels,
establishing objectives and constraints, identifying and evaluating major channel alternatives, and
selecting the appropriate channel options.

Analyzing customers' desired service output levels: The first step in channel design is to identify
customers' desired service output levels. This involves analyzing customers' needs and expectations
and determining the level of service they require. This information is critical in selecting the
appropriate channels of distribution that will meet customers' needs.

Establishing objectives and constraints: The next step is to establish the objectives and constraints
of the channel design. Objectives may include maximizing profitability, increasing market share, or
expanding distribution. Constraints may include budgetary constraints, legal constraints, or logistical
constraints.

Identifying and evaluating major channel alternatives: The third step is to identify and evaluate
major channel alternatives. This involves considering various channel options, such as direct sales,
indirect sales through intermediaries, or a combination of both. The evaluation process involves
considering factors such as the cost of each channel option, the level of control required, and the
level of service output required.

Channel options: The final step is to select the appropriate channel options. This involves selecting
the channels of distribution that will meet customers' needs and achieve the company's objectives
within the established constraints. The selected channels should be efficient, cost-effective, and able
to provide the desired level of service output to customers.

In conclusion, channel design decisions are critical in marketing as they determine the channels of
distribution that will be used to deliver products or services to customers. The process involves
analyzing customers' desired service output levels, establishing objectives and constraints,
identifying and evaluating major channel alternatives, and selecting the appropriate channel
options. The selected channels should be able to meet customers' needs and achieve the company's
objectives within the established constraints.
Introduction to Wholesaling, Retailing, Franchising, Direct marketing, E-
Commerce Marketing Practices

Wholesaling, Retailing, Franchising, Direct Marketing, and E-Commerce Marketing are all
important marketing practices used by businesses to reach their target market and sell
their products or services. Here is an introduction to each:
1. Wholesaling: Wholesaling involves selling products or services in bulk to retailers,
industrial, commercial, institutional, or professional users. Wholesalers act as
intermediaries between manufacturers or producers and retailers or other
customers. They buy products in large quantities at a discount and then sell them to
retailers or other customers at a higher price, making a profit on the markup.
2. Retailing: Retailing involves selling products or services directly to individual
consumers. Retailers purchase products from wholesalers or manufacturers and
then sell them to consumers at a markup. Retailers can be brick-and-mortar stores,
online retailers, or a combination of both.
3. Franchising: Franchising is a business model in which a company allows an individual
or group to use its business name, products, and processes in exchange for a fee.
The franchisee operates their own business using the franchisor's brand and support
system. Franchising allows for the expansion of a business without the capital
investment required for opening new locations.
4. Direct Marketing: Direct marketing involves selling products or services directly to
customers without the use of an intermediary such as a retailer or wholesaler. Direct
marketing can be done through mail, email, telemarketing, or direct sales. Direct
marketing allows businesses to target specific customers and measure the
effectiveness of their marketing efforts.
5. E-Commerce Marketing: E-commerce marketing involves selling products or services
online through a website, social media, or other online platforms. E-commerce
allows businesses to reach a global market and provide customers with a convenient
way to shop from anywhere. E-commerce marketing requires businesses to optimize
their online presence through search engine optimization, online advertising, and
social media marketing.
In conclusion, Wholesaling, Retailing, Franchising, Direct Marketing, and E-Commerce
Marketing are all important marketing practices that businesses can use to reach their
target market and sell their products or services. Each practice has its advantages and
disadvantages, and businesses should carefully consider which practice will work best for
their business model and target market.
Market Logistics Decisions: Order processing, Warehousing, Inventory, and
Transportation.

Market logistics decisions involve the management of the physical flow of goods from the
manufacturer to the end customer. The four key areas of market logistics are order
processing, warehousing, inventory management, and transportation. Here is an overview
of each:

1. Order Processing: Order processing involves the activities that take place
from the time an order is received to the time it is fulfilled. This includes
activities such as order entry, order confirmation, order picking, and
order packing. Efficient order processing can reduce lead times and
improve customer satisfaction.
2. Warehousing: Warehousing involves the storage of goods before they
are shipped to the customer. Warehouses are used to store inventory
and provide a central location for distribution activities. The design of a
warehouse can affect the speed and efficiency of order fulfillment, as
well as the cost of storage.
3. Inventory Management: Inventory management involves the
management of the stock of goods that are stored in a warehouse or
other storage facility. The goal of inventory management is to ensure
that enough stock is available to meet customer demand, while
minimizing the cost of inventory holding. Inventory management
techniques include just-in-time inventory management, safety stock
management, and inventory tracking.
4. Transportation: Transportation involves the movement of goods from
the warehouse to the customer. Transportation can include air, rail,
road, or sea transportation. The choice of transportation mode depends
on factors such as the distance to be traveled, the cost of transportation,
the speed of transportation, and the nature of the goods being
transported.
Effective market logistics management requires careful coordination of all four areas of
logistics. By optimizing order processing, warehousing, inventory management, and
transportation, businesses can improve the speed and efficiency of their supply chain,
reduce costs, and improve customer satisfaction.
MARKETING MANAGEMENT

UNIT - 4 & 5

MARCH 30, 2023

AHSAN AHAMD
 UNIT – 4

PROMOTION
PROMOTION: Introduction: The role of marketing communications in marketing
effort.
Marketing communication plays a critical role in the overall marketing effort of any
business. The primary goal of marketing communication is to create a relationship
between the business and its customers by communicating key messages about the
business's products or services.
Marketing communication includes a range of tactics and strategies that businesses can
use to connect with their target audience. These tactics can include advertising, public
relations, personal selling, sales promotion, direct marketing, and digital marketing.
Marketing communication serves several important functions in the marketing effort.
First, it helps businesses to build brand awareness and brand equity by communicating
the unique value proposition of their products or services to potential customers. This can
help businesses to differentiate themselves from competitors and establish a strong
position in the marketplace.
Second, marketing communication can be used to generate leads and sales by targeting
specific segments of the market with personalized messages and offers. This can include
tactics such as targeted advertising, email marketing, and social media marketing.
Third, marketing communication can help businesses to build and maintain relationships
with existing customers by providing them with relevant and useful information about the
business's products or services. This can include tactics such as loyalty programs, customer
newsletters, and social media engagement.
Finally, marketing communication can be used to manage the business's reputation and
respond to negative feedback or criticism. This can include tactics such as public relations,
crisis communication, and social media monitoring.
In summary, marketing communication plays a critical role in the overall marketing effort
of any business. By communicating key messages about the business's products or
services to potential and existing customers, businesses can build brand awareness,
generate leads and sales, build and maintain customer relationships, and manage their
reputation
Communication Mix Elements: Introduction to Advertising, Sales Promotion, Personal
Selling, Public Relations, Direct Marketing. Concept of Integrated Marketing
Communications (IMC).

The communication mix refers to the various elements of marketing communication that
businesses can use to connect with their target audience. These elements include
advertising, sales promotion, personal selling, public relations, and direct marketing.
1. Advertising: Advertising is a paid form of communication that businesses use to
promote their products or services to a wider audience. Advertising can take many
forms, including print ads, television commercials, radio ads, billboards, and digital
ads.
2. Sales Promotion: Sales promotion is a marketing tactic that businesses use to
incentivize customers to make a purchase. This can include tactics such as
discounts, coupons, free samples, and contests.
3. Personal Selling: Personal selling is a one-on-one interaction between a
salesperson and a potential customer. This can involve a salesperson providing
product demonstrations, answering questions, and negotiating prices.
4. Public Relations: Public relations involves managing the reputation and image of a
business through various channels, such as media relations, social media, and
community outreach. The goal of public relations is to build a positive image for
the business and maintain strong relationships with stakeholders.
5. Direct Marketing: Direct marketing involves targeting specific individuals with
personalized messages and offers. This can include tactics such as email marketing,
direct mail, and telemarketing.
Integrated Marketing Communications (IMC) is a strategic approach that businesses can
use to coordinate all of these communication mix elements into a cohesive and effective
marketing communication strategy. The goal of IMC is to ensure that all marketing
communication tactics are working together towards a common goal, rather than
operating in silos. By integrating these tactics, businesses can create a more effective and
efficient marketing communication strategy that delivers a consistent message to their
target audience.
Developing Effective Communication: Identifying target audience, determining
communication objectives, designing the communications, selecting communication
channels
Developing effective communication is essential for businesses to connect with their
target audience and achieve their marketing goals. Here are four key steps for developing
effective communication:
1. Identify the target audience: The first step in developing effective communication is
to identify the target audience. This involves understanding who the business is
trying to reach, their needs, and their preferences. By understanding the target
audience, businesses can develop messages and communication strategies that are
relevant and resonant with the target audience.
2. Determine communication objectives: Once the target audience has been
identified, the next step is to determine the communication objectives. These
objectives should be specific and measurable and should outline what the business
hopes to achieve through its communication efforts. For example, the
communication objectives may be to increase brand awareness, generate leads, or
drive sales.
3. Design the communication: The next step is to design the communication. This
involves developing messages and creative assets that are consistent with the
communication objectives and resonate with the target audience. The
communication should be designed to convey a clear and compelling message that is
easy for the target audience to understand.
4. Select communication channels: The final step in developing effective
communication is to select the communication channels. This involves determining
which channels are most effective for reaching the target audience and achieving the
communication objectives. For example, the business may choose to use social
media, email marketing, or television advertising to reach the target audience.
In summary, developing effective communication involves identifying the target audience,
determining communication objectives, designing the communication, and selecting
communication channels. By following these steps, businesses can develop
communication strategies that are effective in reaching their target audience and
achieving their marketing goals.
Deciding Marketing Communications Mix: Factors in setting marketing communication mix,
measuring communication results
Deciding on the marketing communication mix involves selecting the appropriate mix of
communication elements such as advertising, sales promotion, personal selling, public
relations, and direct marketing, to achieve the desired communication objectives.
Here are some factors to consider when setting the marketing communication mix:
1. Target audience: The communication mix should be tailored to the target audience.
Different communication elements may resonate better with different segments of
the target audience.
2. Communication objectives: The communication mix should be designed to achieve
specific communication objectives. For example, if the objective is to create brand
awareness, advertising and public relations may be more effective.
3. Budget: The budget available for marketing communication will determine which
communication elements can be included in the mix.
4. Competition: The communication mix should consider what the competitors are
doing and how to differentiate the brand from them.
5. Product life cycle: The communication mix should be adjusted according to the stage
of the product life cycle. For example, in the introduction stage, advertising may be
more effective in creating awareness, while personal selling may be more effective in
the growth stage.
Measuring communication results is essential to determine the effectiveness of the
marketing communication mix. Here are some metrics to consider:
1. Reach: The number of people who have seen or heard the communication.
2. Frequency: The number of times the communication has been seen or heard.
3. Awareness: The level of awareness of the brand or product before and after the
communication.
4. Engagement: The level of interaction with the communication, such as likes, shares,
and comments.
5. Conversion: The number of people who took the desired action after seeing or
hearing the communication, such as making a purchase or signing up for a
newsletter.
By measuring these metrics, businesses can determine the effectiveness of their
marketing communication mix and make adjustments to improve their results.
 UNIT – 5
PRODUCT LEVEL PLANNING

PRODUCT LEVEL PLANNING: Preparation & evaluation of a product level marketing

plan.
Preparation and evaluation of a product level marketing plan involves the following steps :
1. Situation Analysis: The first step is to conduct a situation analysis to understand the
current market conditions, customer needs, and competition. This includes a SWOT
analysis (strengths, weaknesses, opportunities, and threats) and a market analysis
(target market, size, trends, and growth potential).
2. Objectives: The next step is to set marketing objectives that align with the overall
business objectives. These objectives should be specific, measurable, achievable,
relevant, and time-bound.
3. Target Market: Define the target market based on demographics, psychographics,
and behavior. This includes understanding the customer's needs, preferences, and
purchase behavior.
4. Marketing Mix: Develop a marketing mix strategy that includes the four Ps (product,
price, promotion, and place). This involves developing a product that meets the
customer's needs, setting a price that is competitive, developing a promotional
strategy that effectively communicates the product's benefits to the target market,
and determining the best distribution channels to reach the target market.
5. Budget: Determine the budget required to implement the marketing plan. This
includes estimating the cost of developing the product, advertising, promotions, and
distribution.
6. Implementation: Develop an action plan that includes timelines, responsibilities, and
resources required to implement the marketing plan. This involves creating a
detailed plan for each element of the marketing mix.
7. Evaluation and Control: Establish metrics to evaluate the effectiveness of the
marketing plan. This includes monitoring sales, market share, customer feedback,
and other performance indicators. If necessary, make adjustments to the marketing
plan to improve performance.
In summary, preparation and evaluation of a product level marketing plan involves
conducting a situation analysis, setting marketing objectives, defining the target market,
developing a marketing mix strategy, determining the budget, implementing the plan, and
evaluating and controlling performance. By following these steps, businesses can develop
effective marketing plans that meet the needs of their target market and achieve their
marketing objectives.
Nature & contents of Marketing Plans - Executive Summary, Situation Analysis, Marketing
Strategy, Financials, Control

A marketing plan is a written document that outlines an organization's overall

marketing strategy for a specific time period. The marketing plan includes an
analysis of the current marketing situation, the goals and objectives of the
organization, and the specific actions that will be taken to achieve those goals.
The following are the main components of a marketing plan:
1. Executive Summary: This is a brief overview of the entire marketing plan, including the main
goals and objectives, target market, and key strategies. It is usually the first section of the
plan and should be concise and easy to read.
2. Situation Analysis: This section includes an analysis of the current market environment,
including a review of industry trends, market size, and competition. It also includes an
analysis of the organization's strengths, weaknesses, opportunities, and threats (SWOT
analysis).
3. Marketing Strategy: This section outlines the specific marketing strategies that will be used
to achieve the organization's goals and objectives. This includes a description of the target
market, product positioning, pricing strategy, promotional strategy, and distribution
channels.
4. Financials: This section includes a detailed budget and financial forecast for the marketing
plan. It includes projected revenue, expenses, and profit margins.
5. Control: This section outlines how the success of the marketing plan will be measured and
monitored. It includes specific metrics and targets for key performance indicators (KPIs), as
well as a plan for ongoing monitoring and evaluation.

Other potential sections of a marketing plan may include a company overview, a review of
past marketing efforts, and a timeline for implementation.
In summary, the nature and contents of a marketing plan include an executive summary, a
situation analysis, a marketing strategy, financial projections, and a plan for ongoing
monitoring and control. By developing a comprehensive marketing plan, organizations can
align their marketing efforts with their overall business objectives and achieve greater
success in the marketplace.
Marketing Evaluation & Control - Concept, Process & types of control - Annual Plan
Control, Profitability Control, Efficiency Control, Strategic Control, Marketing audit.
Marketing evaluation and control refers to the process of monitoring and measuring the
performance of marketing strategies and activities, and making adjustments to ensure
that marketing objectives are being achieved effectively and efficiently. The following are
the key concepts, processes, and types of control involved in marketing evaluation and
control:
1. Concept: Marketing evaluation and control involves measuring and analyzing the
effectiveness of marketing strategies and tactics in achieving the organization's marketing
objectives. It helps to identify strengths, weaknesses, opportunities, and threats (SWOT) and
make necessary adjustments to improve performance.
2. Process: The process of marketing evaluation and control involves setting performance
targets, monitoring performance, comparing actual performance against targets, and taking
corrective action where necessary.
3. Types of Control:

➢ Annual Plan Control: This involves comparing actual performance to the annual marketing
plan to identify any deviations from the plan and taking corrective action where necessary.
➢ Profitability Control: This involves monitoring profitability and comparing actual profits to
projected profits to identify any deviations and taking corrective action.
➢ Efficiency Control: This involves monitoring the efficiency of marketing activities, such as
sales calls, advertising, and promotions, to identify any inefficiencies and taking corrective
action to improve performance.
➢ Strategic Control: This involves monitoring and adjusting marketing strategies to ensure that
they are aligned with the organization's overall business strategy and objectives.
➢ Marketing Audit: This is a comprehensive review of the entire marketing function, including
the marketing environment, marketing strategy, marketing organization, and marketing
systems and processes.

In summary, marketing evaluation and control is an essential process for ensuring the
effectiveness and efficiency of marketing strategies and tactics. By setting performance
targets, monitoring performance, and taking corrective action where necessary,
organizations can optimize their marketing efforts and achieve greater success in the
marketplace.