Principles of Marketing

Lecture One Overview of Marketing..................................................... 

1.1 

Introduction .............................................................................. 

1.2 

Objectives.............................................................................. 

1.3 

Definitions of Marketing............................................................ 

1.4 

Marketing and Selling............................................................... 

1.5 

Core Concepts of Marketing........................................................ 

1.6 

Marketing Management Philosophies............................................. 

1.6.1 The Production Concept....................................................... 

1.6.2 The Product Concept............................................................ 

1.6.3 The Selling Concept............................................................... 

1.6.4 The Marketing Concept........................................................ 

1.6.5 The Societal Marketing Concept............................................... 

1.6.6 Importance of Marketing to the Society 

1.7 

Summary.............................................................................. 

1.8 

Reference................................................................................ 

Lecture Two: Marketing Environment................................................. 

2.1 

Introduction............................................................................. 

2.2 

Objectives.............................................................................. 

2.3 

Definition of Marketing Environment................................................ 

2.3.1 The company's Micro-Environment 

2.3.2 Macro Environment Forces 

2.4 

Responding to the Marketing Environment......................................... 

2.5 

Summary.................................................................................... 

2.6 

References.............................................................................. 

Lecture Three: Marketing Research, Marketing Information Systems and Marketing Intelligence................................................... 

3.1 

Introduction............................................................................. 

3.2 

Objectives............................................................................... 

3.3 

Importance of Marketing Research................................................... 

3.4 

Definitions of Key Concepts......................................................... 

3.4.1 Marketing Research............................................................ 

3.4.2 Marketing Information System (MIS)...................................... 

3.4.3 Marketing Intelligence......................................................... 

3.4.4 Market Research.............................................................. 

3.5 

Types of Marketing Research........................................................ 

3.6 

Marketing Research Process.......................................................... 

3.7 

Summary................................................................................ 

3.8 

References.............................................................................. 

Lecture Four: Consumer Behaviour............................................. 

4.1 

Introduction............................................................................. 

4.2 

Objectives............................................................................... 

4.3 

Definition of Consumer Behaviour.................................................. 

4.4 

Importance of Analyzing Consumer Behaviour of Marketers................... 

4.5 

The Model of Consumer Behaviour................................................. 

4.6 

Factors Influencing Consumer Behaviour.......................................... 

4.6.1 Factors Influencing Consumer Behaviour.................................. 

4.6.2 Social Factors................................................................... 

4.6.3 Personal Factors................................................................ 

4.6.4 Psychological Factors......................................................... 

4.7 

The Buyer Decision Process......................................................... 

4.7.1 Problem Recognition......................................................... 

4.7.2 Information Search........................................................... 

4.7.3 Evaluation of Alternatives................................................... 

4.7.4 Purchase Decision............................................................ 

4.7.5 Post Purchase Behaviour..................................................... 

4.8 

Types of Buying Decision Behaviour.............................................. 

4.8.1 Complex Buying Behaviour................................................ 

4.8.2 Dissonance - Reducing Buying Behaviour............................... 

4.8.3 Habitat Buying Behaviour................................................... 

4.8.4 Variety-seeking Buying Behaviour....................................... 

4.9 

Summary................................................................................ 

4.10 

References.............................................................................. 

Lecture Five: Market Segmentation, Targeting and Positioning for Competitive Advantage................................................... 

5.1 

Introduction............................................................................. 

5.2 

Objectives .............................................................................. 

5.3 

Definitions of Key Words or Concepts............................................. 

5.4 

Levels of Market Segmentation..................................................... 

5.5 

Bases for Segmenting Consumer Markets.......................................... 

5.6 

Requirements for Effective Segmentation.......................................... 

5.7 

Market Targeting...................................................................... 

5.7.1 Selecting Market Segments................................................... 

5.7.2 Choosing a Market Coverage Strategy...................................... 

5.7.3 Choosing a Market Coverage Strategy....................................... 

5.8 

Positioning for Competitive Advantage............................................ 

5.8.1 Choosing a Positioning Strategy............................................. 

5.8.2 Identifying Possible Competitive Advantage.............................. 

5.8.3 Choosing the Right Competitive Advantage............................... 

5.8.4 Selecting an Overall Positioning Strategy................................. 

5.8.5 Communicating and Delivering the Chosen Position.................... 

5.9

Summary................................................................................ 

5.10 

Reference................................................................................ 

Lecture Six Product Decisions.............................................................. 

6.1 

Introduction............................................................................. 

6.2 

Objectives............................................................................... 

6.3 

Definition of a Product............................................................... 

6.4 

Levels of a Product..................................................................... 

6.5 

Unique Characteristics of Services.................................................. 

6.6 

Product Classifications................................................................ 

6.6.1 Consumer Goods Classification............................................. 

6.5.2 Industrial Goods Classification............................................. 

6.6.3 Consumer Goods Classification............................................. 

6.6.4 Industrial Goods Classification............................................. 

6.7 

Individual Products Decisions........................................................ 

6.7.1 Consumer Goods Classification............................................. 

6.7.2 Branding........................................................................ 

6.7.3 Brand Equity................................................................... 

6.7.4 Major Branding Decisions................................................... 

6.7.5 Brand Strategy................................................................. 

6.7.6 Packaging...................................................................... 

6.7.7 Labeling........................................................................ 

6.7.8 Product Support Services.................................................... 

6.7.9 Product Support Services 

6.8 

Product Mix or Assortment............................................................ 

6.8.1 Dimensions of Product Mix.................................................... 

6.8.3 Product Line Lengthening Decision.......................................... 

6.9 

Product Life Cycle..................................................................... 

6.9.1 Introducing Stage............................................................... 

6.9.2 Growth Stage.................................................................... 

6.9.3 Maturity Stage.................................................................. 

6.9.4 Decline Stage.................................................................... 

6.10 

Benefits and Weakness of PLC...................................................... 

6.11 

New Products and New Product Development Process........................... 

6.11.1 What is a New Product?....................................................................... 

6.11.2 New Product Development Process........................................ 

6.12 

The Consumer Adoption Process.................................................... 

6.13 

Adopter Categories.................................................................... 

6.14 

Summary.............................................................................. 

6.15 

References.............................................................................. 

Lecture Seven : Distribution Decisions................................................. 

7.1 

Introduction............................................................................. 

7.2 

Objectives............................................................................... 

7.3 

Meaning of Channel of Distribution................................................. 

7.4 

Types of Channel of Distribution....................................................

7.5 

Functions Performed by Market Intermediaries or Middlemen.................. 

7.6 

Intensity of Distribution Decision................................................... 

7.7 

Summary................................................................................. 

7.8 

References.............................................................................. 

Lecture Eight: Promotion Decisions..................................................... 

8.1 

Introduction............................................................................. 

8.2 

Objectives............................................................................... 

8.3 

Meaning of Promotion................................................................. 

8.4 

Promotion Methods.................................................................... 

8.4.1 Personal Selling............................................................... 

8.4.2 Advertising..................................................................... 

8.4.3 Sales Promotion............................................................... 

8.4.4 Public Relation................................................................ 

8.4.5 Publicity........................................................................ 

8.5 

Communication Process and Promotion............................................ 

8.6 

Purposes of Promotion................................................................ 

8.7 

Determining and Managing the Promotion Mix................................... 

8.7.1 Setting Objectives for Communication...................................... 

8.7.2 Factors Influencing the Choice of the Promotion Mix..................... 

8.7.3 Setting the Total Promotion Budget.......................................... 

8.7.4 Evaluating and Controlling Promotion Program........................... 

8.8 

Advertising, Personal Selling, Sales Promotion Public Relations and Publicity................................................................................. 

8.8.1 Advertising...................................................................... 

8.8.2 Personal Selling................................................................. 

8.8.3 Sales Promotion................................................................. 

8.8.3.1 Consumer-Oriented Sales Promotion Techniques........................ 

8.8.4 Publicity......................................................................... 

8.9 

Summary................................................................................. 

8.10 

References.............................................................................. 

Lecture Nine: Pricing Products/Decisions.............................................. 

Introduction ............................................................................ 

Objectives............................................................................... 

Meaning of Pricing.................................................................... 

Importance of Pricing................................................................. 

9.4.1 In the Economic............................................................... 

9.4.2 To the Individual Firm........................................................ 

9.4.3 To the Individual Consumer................................................. 

9.5 

Pricing Objectives..................................................................... 

9.5.1 Status Quo Objectives........................................................ 

9.5.2 Profit Objectives............................................................... 

9.5.3 Sales Objectives............................................................... 

9.6 

Factors to Consider in Price Determination........................................ 

9.6.1 Marketing Objectives......................................................... 

9.6.2 Marketing Mix Variables.................................................... 

9.6.3 Cost.............................................................................. 

9.6.4 The Market and The Demand................................................ 

9.6.5 Consumer Perceptions of Price and Value................................. 

9.6.6 Competitors..................................................................... 

9.6.7 Ethical Considerations....................................................... 

9.6.8 Government.................................................................... 

9.7 

Product Mix Pricing Strategies...................................................... 

9.7.1 Product Line Pricing........................................................... 

9.7.2 Optional - Product Pricing.................................................... 

9.7.3 Captive - Product Pricing...................................................... 

9.7.4 By-Product Pricing............................................................. 

9.7.5 Product Bundle Changes...................................................... 

9.8 

Initiating Price Changes............................................................... 

9.8.1 Initiating Price Cuts............................................................ 

9.8.2 Initiating Price Increases...................................................... 

9.9 

Responding to Price Changes......................................................... 

9.10 

Psychological Pricing.................................................................. 

9.10.1 Reference Price................................................................. 

9.10.2 Odd-Even Pricing.............................................................. 

9.11 

Promotional Pricing.................................................................... 

9.11.1 Weakness of Promotional Pricing.......................................... 

9.12 

Price Discrimination/Segmented Pricing........................................... 

9.13 

Geographical Pricing.................................................................. 

9.13.1 Uniform........................................................................ 

9.13.2 Zone Pricing................................................................... 

9.13.3 Basing-Point Pricing........................................................... 

9.13.4 Freight-Absorption Pricing................................................... 

9.13.5 International Pricing.......................................................... 

9.14 

Summary................................................................................. 

9.15 

References..............................................................................