Course- Marketing Management – MBA I Semester
Marketing Management is a course that examines the role and importance of marketing in the firm and other organizations. The course cover topics such as marketing plans/strategies, product decisions, marketing research, market segmentation, retailing, advertising, pricing, distribution and Internet marketing, etc. This course enables a student to understand the ‘Marketing mix’ elements and the strategies and principles underlying the modern marketing practices. The students will find the course interesting and informative.
The students will be able to identify the scope and significance of Marketing in present settings. The course offers the students an opportunity to coordinate the various marketing environment variables and interpret them for designing marketing strategy for business firms. The course will also provide an insight into various marketing strategies embraced by different industries. Some major learnings also include:
Basic knowledge of marketing, logical thinking.
Who this course is for:
This course is for anyone interested in pursuing career in the field of Sales and Marketing. The organizations may use the learnings from the module to train its employees in sales and marketing domain.
Introduction to Marketing: Introduction to fundamentals of marketing, marketing as a value creation domain, evolution of marketing concept- How Marketing as a discipline has evolved over a period of time- Production Concept, Product Concept, Sales Concept, Marketing Concept & Societal Marketing Concept. Why marketing is about delivering value proposition to customers. Marketing is about satisfying 100% needs of 10% customers than satisfying 10% needs of 100% customers.
Marketing Objectives, Scope: Objectives, Scope and Importance of marketing with reference to current scenario. Deep understanding of needs, customer satisfaction and customer delight, Major highlights of marketing. Functions of marketing. Product Management, Pricing, Selling, Marketing Information System, Distribution as a carrier of value with relevant examples.
Relationship between Sales & Marketing: Marketing and Sales relationship. Distinction between Sales & Marketing, Do Sales and Marketing complement each other? Sales as an inducement and Marketing as a medium to identify gaps and filling them, Product, Price, Place and Promotion and their roles in a company’s strategy. Extended Marketing Mix and its role in overall organizational plan. Marketing Plan and its significance, Marketing Plan as a blueprint of a company. The role of marketing from concept till execution.
Marketing Management Process: Analyzing Marketing Opportunities, STP and its role in organizations, Product Life Cycle stages and its characteristics, PLC Strategies, Marketing plan implementation and control.