Marketing Management

BRIEF COURSE DESCRIPTION

The purpose of this course is to provide students an introduction to Marketing.Marketing is the process of performing market research, sellingproducts and/or services to customers and promoting them via advertising to further enhance sales. It generates the strategy that underlies sales techniques, business communication, and business developments.It is an integrated process through which companies build strong customer relationships and creates value for their customers and for themselves.Marketing is used to identify the customer, to satisfy the customer, and to keep the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable.The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.

COURSE OBJECTIVES

  • By the end of the course, students will possess a clear understanding of how the Marketing theory of both micro & micromarketing explains the Marketing problems faced by individual and customers with agents such as consumers, firms and factors of production as well as the situation of an economy. Upon completion of the course it is expected that students should be able to:
  • understand the basic concepts of Marketing and various issues in the theory of Marketing at a level appropriate for a first year business studies at graduate level
  • understand the Holistic Marketing and Segmentation, consumer and firm’s behaviour and market structures
  • understand the basic structure of the Practical Marketing
  • understand the forces determining Marketing Terminologies
  • Current pattern of Marketing in Pakistan
  • Establish a framework of basic marketing theory which can be extended and applied at later stages of the degree program.
  • understand the marketing related news and issues
  • provide an insight into the major policy debates in the field of  business and Marketing

Prerequisite(s): None

Recommended Text Books:

S.No. Title Author(s)
1 Principles of Marketing(Latest Edition) Philip Kotler
2 Principles of Marketing Agarwal
3 Marketing Management Philip Kotler, Kevin Lane Keller

 

Lectures Breakdown:

Week No Topic/Chapter Title Description of Topic Covered
 1 Introduction to Marketing What is marketing, The scope of marketing, The importance of marketing, Exchange and Transactions, What is marketed? Who markets? How business and marketing are changing, The ten rules of radical marketing, 
 2 Company orientation towards market place  The production concept, The product concept, The selling concept, The marketing concept, The holistic marketing concept, Fundamental marketing concept, trends and tasks, core concepts, shifts in marketing management, marketing management tasks 
  

 

3

Customer Value Building customer value, satisfaction, loyalty. Customer perceived value. Total customer satisfaction. Measuring satisfaction. Product and service quality. Maximizing customer lifetime value. Measuring customer lifetime value. Customer equity
  

 

4

Customer Relationship Cultivating customer relationship. Consumer relationship management (CRM). Attracting retaining and growing customer. Building loyalty. Reducing customer defection. Forming strong customer bonds. Customer database and database marketing. Customer database. Data warehouses and data mining. The downside of database marketing and CRM.
5 Consumer Markets What influence customer behavior? Cultural factors. Social factors. Personal factors. Key Psychological processes. Motivation: Freud, Maslow, Herzberg. Perception. Learning. Memory
  6 Consumer decision making The buying decision process: The five stage model. Problem recognition. Information search. Evaluation of alternatives. Purchase decisions. Post purchase behavior. Theories of consumer decision making. Levels of consumer involvement. Decision heuristics and biases. Mental accounting. Profiling the customer buying decision process.
7 Market Segments Levels of market segmentation. Segment marketing. Niche marketing. Loyal marketing. Customerization. Segmenting consumer markets: geographic segmentation, demographic segmentation, psychographic segmentation. Behavioral segmentation.
8 Case studies & presentations ·         K & N’s·         Utility Store Corporation of Pakistan

·         Atlas Honda Limited

9 MID TEST MID TEST
  

 

10

Business Market Segmentation Bases for segmenting business markets. Marketing to small businesses. Sequential segmentation. Market targeting. Effective segmentation criteria. Evaluating and selecting the market segments. Additional Consideration
11 Services Marketing The nature of services. Services industries are every where. Categories of service mix. Distinctive characteristics of services. Marketing strategies for service firms. A shifting customer relationship. Holistic marketing for services. Managing service quality. Customer expectations. Best practice of service quality management.
12 Services Brand Managing Services brands. Differentiating Services. Developing brand strategies for services. Managing product support services. Identifying and satisfying customer needs. Post sale service strategy
13 Pricing strategies Understanding pricing. How companies price. Consumer Psychology and pricing. Setting the price. Step1: Selecting the pricing objective. Step:2 Determining demand. Step3: estimating cost. Step4: Analyzing Competitors costs prices and offers. Step: 5 Selecting a pricing method. Step6: selecting the final price
14 & 15 Price Adaptation Geographical pricing (Clash, Countertrade, Barter). Price Discounts and allowance. Promotional pricing. Differentiated pricing. Initiating and responding to price changes. Initiating price cuts. Initiating price increases. Reaction to price change. Respond to competitors price change.
16 Case studies and presentations ·         Wapda·         Macdonald

·         UBL

17 Case studies and presentations ·         Shakarganj Mills Limited·         Bareeze

·         PTCL

FINAL EXAMINATION FINAL EXAMINATION

 

Teaching & Learning Methods

  1. Classroom presentation by teacher
  2. Classroom discussion lead by teacher
  3. Case studies given in class
  4. Assignment for understanding the management concepts
  5. Presentation by students

Facilities required for teaching and Learning:

Projector, smooth classroom environment.

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