This textbook offers an effective and easy way to approach the study of fundamentals of marketing. It covers the syllabus of most of the universities with MBA, PGDBM, M.Com., BBA and B.Com. disciplines offering a course on marketing and advertising. It comprehensively deals with marketing concepts, principles and practices and presents real-life case examples and applications of successes and failures of products and services in the market place. One may learn various marketing terms, concepts, jargon and applications from this textbook which help readers to understand the subject. Text and images show why some products have greater customer appeal and are successful than others in the market place. Apart from the aforesaid students, the book will also prove an asset to the research scholars, teachers and those students who are preparing for UGC NET and SLET examinations. Each chapter provides an overview of key points and application scenarios. Chapter 1 introduces the basic concepts of marketing, nature, scope and importance of marketing. Chapters 2 to 5 introduces marketing environment, marketing mix and marketing plan, market segmentation, targeting, positioning and consumer behaviour. Chapters 6 to 10 includes product concepts and product life cycle, product planning, development and product identification, pricing, marketing communication and marketing research. Chapters 11 to 14 discuss concepts of promotion activities like advertising, advertising budget, media and public relations, personal selling and management of sales force, sales forecasting, sales promotion and publicity. Chapters 15 to 18 we study about physical distribution, channels of distribution, strategic marketing planning and competitive marketing strategies, marketing organizations and control of marketing operations. Chapters 19 to 21 introduces rural marketing, marketing of services, banking, transport and insurance, e-commerce and CRM. Chapter 22 closes our discussion with new issues in marketing globalization, green marketing, consumerism and neuro-marketing.
Additional Info
  • Publisher: Laxmi Publications
  • Language: English
  • ISBN : 978-93-83828-30-2
  • Chapter 1

    Marketing Nature Scope and Importance Price 2.99  |  2.99 Rewards Points

    Marketing management is a broad scope of the study of marketing focusing on the practical application of the techniques and marketing activities of a certain company or business. This business discipline encompasses marketing planning and strategy, orientations, and processes needed in attaining company goals by providing values to clients. Since it has a wide coverage involving all factors required to satisfy customers, marketing management must be all-pervasive and a part of every employee’s scope of work, from subordinates to those in the higher management.
  • Chapter 2

    Marketing Environment Price 2.99  |  2.99 Rewards Points

    A marketing-oriented company always keeps tab on its external environment carefully to analyze opportunities and threats. This external environment influences the company’s strategies at two levels i.e., external macro-environment level and external micro-environment level. The macro-environment level involves political and legal, economic and natural, social and cultural and technology environment. The micro-environment level consists of supply chain, customer and competitor. These factors are uncontrollable by the organization. Marketing environment comprises the combination of two words ‘marketing’ and ‘environment’. Marketing means responding to the needs and demands of the consumers to provide optimum satisfaction level. Similarly environment refers to external factors influences and organizational power which is related to the aim and effective working of a firm. Thus, marketing environment refers to external or macro factors and forces which not only influence a company but also the components which affect the consumers analyzing its trend and impact on the operations and performance of the company.
  • Chapter 3

    Marketing Mix and Marketing Plan Price 2.99  |  2.99 Rewards Points

    The basic task of marketing is the delivery of product(s) to consumers so that their needs are fulfilled and organizational objectives are also achieved. This involves several important decisions, e.g., deciding about the product or products which should be offered for sale, price of the product, markets where products may be sold and the means of communication with the consumer for the sale of the product. All these decisions form part of marketing-mix. In this lesson we shall study about the concept of marketing mix, its components and the relationship among various components of marketing mix
  • Chapter 4

    Market Segmentation Targeting and Positioning Price 2.99  |  2.99 Rewards Points

    In today’s world of globalization, marketing has become a very important medium for running and maintaining business at national as well as international level. If you are into some business or a consultant of business, you must be aware of what marketing is and what the importance of market is. A market is basically a place where business persons exchange goods with capital or some other goods.
  • Chapter 5

    Consumer Behaviour Price 2.99  |  2.99 Rewards Points

    Consumers are individuals, households or businesses who use the products. Most products eventually end up in private households even though they will pass through a number of steps on their way from producer to end user. Producers and traders form vertical chains or networks, called value chains, at the end of which are the consumers. Understanding consumer behaviour is not only important for the producer but for all the other players in the chain. The value that the consumer puts on the goods or services limits what everyone else can get from the value chain
  • Chapter 6

    Product Concepts and Product Life Cycle Price 2.99  |  2.99 Rewards Points

    Many entrepreneurs start their businesses because they have an idea for a product that is unique and they think people will buy it. The two considerations are based on interest in the product in the marketplace, called marketability, and the product not being available elsewhere. Unfortunately, a unique idea is not always a business opportunity. The product development process helps to weed out ideas that are unique but not likely to sell in the marketplace. It also perfects an idea so that it can be profitable.
  • Chapter 7

    Product Planning Development and Product Identification Price 2.99  |  2.99 Rewards Points

    Developing ideas for a new product and introducing them in the market from time to time is an essential and challenging job of the marketing management of a company. The existing products become old and out-dated due to the changes in the technology and the customers’ needs, tastes and preferences. Therefore, a company has to replace them with new products.
  • Chapter 8

    Pricing Price 2.99  |  2.99 Rewards Points

    Price is all around us. We pay rent for our apartment, tuition for our education, airline, railways, buses charge us a fare, local banks charge interest for the money, you pay a fee to your doctor, advocate etc. Thus price is not just a number on a tag or an item. Every marketer and organization, whether a profit seeking organization or non-profit organization, has to set a price for its products or services. Price is the value of a product or service expressed in monetary terms. It is the consideration which the buyer has to give to the seller for purchasing a product or utilizing a service.
  • Chapter 9

    Marketing Communication and Marketing Research Price 2.99  |  2.99 Rewards Points

    Marketing communication poses a special challenge to the marketing strategists for some unique reasons. First, it is the most visible clue next to the product itself of marketers’ intentions and commitment to consumers. Secondly, it receives a relatively close scrutiny from the policymakers and other consumer interest groups. Thirdly, there has been a significant change in viewing marketing communication.
  • Chapter 10

    Promotion Mix Price 2.99  |  2.99 Rewards Points

    Promotion refers to using methods of communication with two objectives: (i) to inform the existing and potential consumers about a product, and (ii) to persuade consumers to buy the product. It is an important element of marketing mix. In the absence of communication, consumers may not be aware of the product and its potential to satisfy their needs and desires. Various tools of communication form part of promotion mix. Companies must decide which tools should be used for larger sales and in what proportion. The promotional tools should be used in combination. These decisions are known as promotion mix decisions. There are five components of promotion mix, i.e., advertising, sales promotion, personal selling, publicity and public relations. Thus, promotion mix is a company’s total communication programme which consists of different blends of its components and which are used to achieve the company’s marketing objectives.
  • Chapter 11

    Advertising Price 2.99  |  2.99 Rewards Points

    Advertising is multidimensional. It is an important tool of sales promotion. Advertising consists of all the activities involved in presenting a non-personal, oral or visual, sponsored message regarding a product, service or idea. This message is called advertisement which is disseminated through one or more media and paid for by an identified sponsor. Advertising is used for communicating business information to the present and prospective customers. It usually provides information about the advertising firm, its product qualities, place of availability of its products, etc. Advertisement is indispensable for both sellers and buyers.
  • Chapter 12

    Advertising Budget Media and Public Relations Price 2.99  |  2.99 Rewards Points

    The advertising budget of a business is typically a subset of the larger sales budget and, within that, the marketing budget. Advertising is a part of the sales and marketing effort. Money spent on advertising can also be seen as an investment in building up the business. In order to keep the advertising budget in-line with promotional and marketing goals, a business owner s
  • Chapter 13

    Personal Selling and Management of Sales Force Price 2.99  |  2.99 Rewards Points

    Personal selling or salesmanship is one of the most important methods to contact the prospective buyer personally and to persuade him or her to buy the products. The objective is not only to sell the product to a buyer but to make him or her a permanent customer. Consumer satisfaction is the core of marketing. Goods and services are produced after studying the requirements of the consumers. Once these are produced, the consumers are informed and convinced that the products in question can satisfy their needs. Advertisement serves the purpose of keeping the customers informed about the products available in the market. Besides this, consumers also need to be informed about the new products likely to be introduced.
  • Chapter 14

    Sales Forecasting Sales Promotion and Publicity Price 2.99  |  2.99 Rewards Points

    Forecasting is the process of making statements about events whose actual outcomes have not yet been observed. A commonplace example might be estimation of some variable of interest at some specified future date
  • Chapter 15

    Physical Distribution Price 2.99  |  2.99 Rewards Points

    ‘Place’ has always been thought of as being the least dynamic of the ‘4Ps’. Marketing practitioners and academics have tended to concentrate on the more conspicuous aspects of marketing. It is now recognized that physical distribution is a critical area of overall marketing management. Physical distribution activities have recently received increasing attention from business managers, including small business owners. This is due in large part to the fact that these functions often represent almost half of the total marketing costs of a product.
  • Chapter 16

    Channels of Distribution Price 2.99  |  2.99 Rewards Points

    Distribution of products constitutes an important element of marketing mix of a firm. After development of the product, the entrepreneur has to decide channels or routes through which the product will flow from the factory to the potential customers. He has a number of alternatives available to him. The entrepreneur may choose to distribute the product directly to customers without using any intermediaries. Alternatively, he may use one or more middlemen including wholesalers, selling agents, and retailers.
  • Chapter 17

    Strategic Marketing Planning and Competitive Marketing Strategies Price 2.99  |  2.99 Rewards Points

    The challenge is faced by marketing management in a multinational business, with hundreds of business units located around the globe, producing a wide range of products. How can such management keep control of marketing decision-making in such a complex situation? This calls for well-organized marketing planning. A marketing strategy is a way to give marketing orientation to your business by deciding to position your product or service in terms of buyer needs and wants. Inexperienced business people often make decisions based on what they like or want, leaving the customer out of the picture and suffer from marketing myopia. A marketing orientation brings the customer into the centre of the picture and enjoy lifetime profit.
  • Chapter 18

    Marketing Organizations and Control of Marketing Operations Price 2.99  |  2.99 Rewards Points

    An organization is nothing but a common platform where individuals from different backgrounds come together and work as a collective unit to achieve certain objectives and targets. An organization consists of individuals with different specializations, educational qualifications and work experiences all working towards a common goal. Marketing organization provides a vehicle for making decisions on products, marketing channels, physical distributions, promotions and prices
  • Chapter 19

    Rural Marketing Price 2.99  |  2.99 Rewards Points

    Rural marketing involves the process of developing, pricing, promoting, distributing rural specific product and a service leading to exchange between rural and urban market which satisfies consumer demand and also achieves organizational objectives.
  • Chapter 20

    Marketing of Services Banking Transport and Insurance Price 2.99  |  2.99 Rewards Points

    Prior to the time of the Industrial Revolution, virtually all trade and exchange processes involved some personal contact between suppliers and their customers.
  • Chapter 21

    E-Commerce and CRM Price 2.99  |  2.99 Rewards Points

    Electronic commerce is also known as e-commerce or e-business. Trade and commerce between individuals is as old as the existence of mankind. The latest to join the list is Electronic Commerce, which is popularly known as e-commerce. Electronic commerce is defined as the actual buying and selling of goods or services electronically online. Products are displayed in an online store and potential customers can read information about the products, see them on the website and have the option to purchase them online. Any product can be sold online and all the principles of business apply to this also.
  • Chapter 22

    New Issues in Marketing Globalization and Green Marketing Price 2.99  |  2.99 Rewards Points

    The name for the process of increasing the connectivity and interdependence of the world’s markets and businesses. This process has speeded up dramatically in the last two decades as technological advances make it easier for people to travel, communicate, and do business internationally. Two major recent driving forces are advances in telecommunications infrastructure and the rise of the internet. In general, as economies become more connected to other economies, they have increased opportunity but also increased competition.