MM Mcom I

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MarketingManagement

Master of Commerce [M.Com]

[Semester-I]

TTHHEE

MMAANNAAGGEEMMEENNTT

CCOONNSSOORRTTIIUUMM

1e2012-13

onwards

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[ 2012-13 Onwards: TMC Study Material on MM] Page 2

MarketingManagement

TThhee MMaannaaggeemmeenntt CCoonnssoorrttiiuumm

Marketing Management

Master of Commerce (M.Com) [Semester-I]

First edition: 2012-13 onwards

All Rights reserved with TMC

Published by: TMC, Nagpur

1e2012-13

onwards

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The purpose of this study Material is to present an introduction to

the subject of . The book

contains the syllabus from basics of the subjects going into the

intricacies of the subjects. All the concepts have been explained with

relevant to make it interesting for the

readers.

An attempt is made here by to assist the students

by way of providing Study Material as per the curriculum with

non-commercial considerations. However, it is implicit that these are

exam-oriented Study Material and students are advised to attend

in the Institute and utilize reference book s available

in for In-depth knowledge.

We owe to many websites and their free contents; we would like to

specially acknowledge contents and

whose writings formed the basis for this book. We

acknowledge our thanks to them.

At the end we would like to say th at there is always a room for

improvement in whatever we do. We would appreciate anysuggestions regarding this study material from the readers so that

the contents can be made more interesting and meaningful. Readers

can email their queries and doubts to our authors on

[email protected]. We shall be glad to help you immediatel y.
mailto:[email protected]:[email protected]:[email protected]://www.wikipedia/

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Syllabus and TMC Contents

U.N. Syllabus and TMC Contents P.N.

1 Nature and scope of Marketing, Different philosophies of marketing,

various demand states and marketing tasks, Corporate Orientations

towards the marketplace, The Marketing environment and Environment

scanning.

05

2 Marketing information system and Marketing research, Understanding

consumer and industrial markets, Market segmentation, Targeting and

positioning.

32

3 Product decisions product mix, product life cycle, new product

development, branding and packaging, decisions, Pricing methods and

strategies.

65

4 Promotion decisions promotion mix, advertising, sales promotion, public

relations personal selling, Channel management- selection, emergence of

new channels, Vertical marketing

96

5 Implementation and systems, Organizing and implementing marketing in

the organization; Evaluation and control of marketing efforts; New issues in

marketing- Globalization, Consumerism, Green marketing.

134

Further readings and References Model Question Paper

166

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Unit1:Nature and Scope of MarketingNature of Marketing

Marketingis part of all of our lives and touches us in some way every day. To be successful each company that deals

with customers on a daily basis must not only be customer-driven, but customer-obsessed. The best way to achieve this

objective is to develop a sound marketingfunction within the organization.

Marketingis the process by which companies create customer interest in products or services. It generates the strategy

that underlies sales techniques, business communication, and business development. It is an integrated process

through which companies build strong customer relationships and create value for their customers and for themselves.

Marketingis defined as a social and managerial process by which individuals and groups obtain what they need

and want through creating and exchanging products and

value with others. Marketing is a key factor in business

success. The marketing function not only deals with the

production and distribution of products and services, but it

also is concerned with the ethical and social responsibility

functions found in the domestic and global environment.

Marketers must also be aware of customer value and

customer satisfaction and make these concepts a central part

of the firms strategic plan.

Marketingmust also be aware of and respond to change. Four

of the greatest changes that have had an impact on the way

companies bring value to their customers are the explosive

growth of the computer, the Internet, telecommunications, and information technology.

The term marketinghas been described by different people in different ways. Some people believe that marketingis

same thing as shopping. Whenever they go out for shopping of certain products or services, they describe it as

marketing. There are some other people who confuse marketingwith selling and feel that marketingactivity starts

after a product or service has been produced. Some people describe it to mean merchandising or designing a product.

All these descriptions may be partly correct but marketingis a much broader concept, which is discussed as follows:
http://en.wikipedia.org/wiki/Customer_relationship_managementhttp://en.wikipedia.org/wiki/Customer_relationship_management

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Traditionally marketinghas been described in terms of its functions or activities. In this respect, marketinghas been

referred to as performance of business activities that direct the flow of goods and services from producers to

consumers. We know that mostly manufacturing firms do not produce goods for their own consumption but for the

consumption or use by others. Therefore, to move the goods and services from producers to consumers, number of

activities such as product designing or merchandising, packaging, warehousing, transportation, branding, selling,

advertising and pricing are required. All these activities are referred to as marketingactivities.

Thus, merchandising, selling and shopping are all part of a large number of activities undertaken by a firm, which

are collectively called marketing. It may be noted here that marketing is not merely a post-production activity. It

includes many activities that are performed even before goods are actually produced and continue even after the goods

have been sold. For example, activities such as identification of customer needs, collection of information for

developing the product, designing suitable product package and giving it a brand name are performed before

commencement of the actual production. Similarly, many follow up activities are required for maintaining good

customer relations for procuring repeat sale. In modern times, emphasis is placed on describing marketingas a social

process. It is a process whereby people exchange goods and services for money or for something of value to them.

Taking the social perspective, Phillip Kolter has defined marketingas, a social process by which individual groups

obtain what they need and want through creating offerings and freely exchanging products and services of value with

others.

Thus, marketing is a social process where in people interact with others, in order to persuade them to act in a

particular way, say to purchase a product or a service, rather than forcing them to do so.

There are many different definitions of marketing. To facilitate proper discussion on the subject, we shall consider afew definitions of marketing. A cursory glance through them would reveal that there are varying perception sand

view-points on the meaning are content of marketing.

Definitions of Marketing

1. Much of marketing is concerned with the problem of profitably disposing of what is produced.

2. Marketing is a phenomenon brought about by the pressures of mass production and increased spending power.

3. Marketing is the performance of business activities that direct the flow of goods and services from the producer to

the consumer.

4. Marketing is the economic process by means of which good and services are exchanged between the maker and the

user their values determined in them of money prices.

5. Marketing is designed to bring about desired exchanges with target audiences for the purpose of mutual gain.

6. Marketing activities are concerned with the demand-stimulating and demand fulfilling efforts of the enterprise.

7. Marketing is the function that adjusts the organizations offering to the changing needs of market place.

8. Marketing is a total system of interacting business activities designed to plan, promote and distribute need-satisfying

products and services to existing and potential consumers.

9. Marketing starts with the identification of a specific need on the part of the consumer and ends with the satisfaction

of that need. The consumer if found both at the beginning and the end of the marketing process.

10. Marketing originates with the recognition of a need on the part of a consumer and terminates with the satisfaction

of that need by the delivery of a usable product at the right time, at the right place and at an acceptable price.

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11. Marketing is so basic that it cannot be considered a separate function. It is really the whole business seen from the

point of view of the final result, i.e., from the point of view of the customer.

12. Marketing is a viewpoint which looks at the entire business process as a highly integrated effort to discover, create,

arouse and satisfy consumer needs.

13. Marketing is the delivery of a standard of living.

Which definition is right? In short, they all are. They all try to symbolize the essence of marketing:

Marketing is about meeting the needs and wants of customers;

Marketing is a business-wide function it is not something that operates alone from other business activities;

Marketing is about understanding customers and finding ways to provide products or services which customers

demand.

Almost every marketing textbook has a different definition of the term marketing. The American Marketing

Association (AMA) uses the following:

The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and

services to create exchanges that satisfy individual and organizational objectives. From this definition, we see that:

Marketinginvolves an ongoing process. The environment is dynamic. This means that the market tends to change

what customers want today is not necessarily what they want tomorrow. For example, sales of meat are declining in

the United States because consumers have become health oriented. This process involves both planning and

implementing (executing) the plan.

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Suggested Readings and Bibliography

Agnilar, F.. (1967) Scanning the Business Environment, Macmillan, New York, p.47. Baig, M.M.A., Guidelines for Urban and Rural Marketing in India, Indian Journal of Marketing, 1980,

10(5)

Business World, The Rural Rush, Feb. 13-26, 1991 Coddington, W. 1993. Environmental Marketing: Positive Strategies for Reaching the Green Consumer.

New York: McGraw-Hill, Inc.

Curry, Jay.The Customer Marketing Method. The Customer Marketing Institute BV, 2000. Dhar,N.K.: Rural Marketing in India: A Weakness and a Challenge, Productivity Dr.K.Karunkaran, Marketing Management, Himalaya Publication Fuller, D.A. 1999. Sustainable Marketing: Managerial-Ecological Issues. California. Sage Publications. Gamble, Stone and Woodcock..Up Close and Personal?Kogan Page Limited, 1999. Gopalaswamy,T.P.: Rural Marketing, Wheeler Publishing, New Delhi,1998 Gordon, Ian.Relationship Marketing.John Wiley and Sons, Canada, 1998. Green, P.E., Tull, D.S. and Albaum, G (1993), Research For Marketing Decisions, 5th edition, Prentice-

Hall

Haley, Russel I. (1984), "Benefit Segmentation: Backwards and Forwards," Journal of AdvertisingResearch, 24 (February/March), 19-25.

Keith Blois, Textbook of Marketing, Oxford University Press Kerlinger, FN.(1994) Foundations of Behavioural Research, 1st edition, Holt, Rinehart and Winston, p.

174.

Khanna S.S., Need for Rural Marketing, Kurukshetra, November, 1999 Kotler, P., (1988) Marketing Management: Analysis Planning and Control, Prentice-Hall p. 102. Krishnamacharyulu, C.S.G; Lalitha Ramakrishnan: Rural Marketing, Pearson Education Asia, 2002 Lowenstein, Michael W.Customer Retention.ASQC, 1995. Mark Abraham ([email protected]) 30th November 2001 P. Kotler, Swee Hoon Ang - Marketing Management Philip Kotler & Gary Armstrong Principles of Marketing, 8th Edition (1998) Philips Kotler - Marketing Management 11th Ed. - (Prentice Hall of India) Pingali Venugopal, Marketing Management, Sage Publication Rajan Saxena, Marketing Management, Tata McGraw Hill V.S. Ramaswamy & S Namakumari, Marketing Management, Macmillan
http://www.amazon.com/exec/obidos/ASIN/0139570020/wisdomportalcomhttp://www.amazon.com/exec/obidos/ASIN/0139570020/wisdomportalcom

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Model Question Paper forWinter 2012

First Semester of

Master of Commerce (M.Com)Examination

Marketing Management

Time: Three Hours] [Max. Marks: 80

NB:-

1) All the Five Questions are compulsory.

2) All questions carry equal marks.

Q1. (a) All organizations need

Marketing. Give reasons in support of

the statement. Explain the functional

area of Marketing.

or

(b) Explain the concepts of various

demand states and marketing tasks.

Q2. (a) Elaborate with examples different

variables, which can be used to segment

market. Which of these variables will be

relevant to segment market for branded

P.C.

or

(b) Elaborate the procedure of

conducting a Marketing research.

Q3. (a) Describe different stages involvedin new product development process.

Why a large number of products in India

are failing in spite of following of stages

in new product development process?

or

(b) Describe the pricing strategies and

types of pricing adopted by the present

manufactures.

Q4. (a) What are the objectives of

promotion? What are the basic types of

promotion strategies and plans?

or

(b) Considering present scenario, write

about various types of channels and

importance of retailing and wholesaling.

Q5. a) Explain how new issues like

Globalisation, Green Marketing and

Consumerism, are affecting marketing

plan of an organization in India.

or

b) Conventional Marketing Channel

will stay in spite of growing popularity

of Vertical Marketing System. Explain.

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