Unit 853: Principles of Marketing

1. Introduction to Marketing

• Definition and scope of marketing
• The role of marketing in business success
• Creating value for customers and organizations
• Marketing concepts: Production, Product, Selling, Marketing, and Societal Marketing

2. Marketing Environment Analysis

• Overview of the marketing environment
• External factors influencing marketing:
  • Economic factors (market conditions, consumer income, inflation)
  • Social factors (cultural trends, demographics, lifestyles)
  • Technological factors (innovation, digital transformation)
  • Competitive factors (market competition, substitutes, new entrants)
• Tools for environment analysis: PESTEL Analysis, SWOT Analysis

3. Market Segmentation and Targeting

• Importance of market segmentation
• Bases of segmentation:
  • Demographic (age, gender, income)
  • Psychographic (lifestyle, personality)
  • Behavioral (purchase behavior, usage rate)
  • Geographic
• Criteria for effective segmentation
• Target market selection strategies:
  • Undifferentiated
  • Differentiated
  • Concentrated
  • Micromarketing

4. Consumer Behavior

• Consumer decision-making process:
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Post-purchase behavior
• Factors influencing consumer behavior:
  • Psychological (motivation, perception, learning)
  • Social (family, reference groups)
  • Cultural (culture, subculture)
  • Personal (age, occupation, lifestyle)

5. Product and Brand Management

• Product classification: consumer vs industrial products
• Product life cycle stages
• New product development process
• Branding concepts:
  • Brand equity
  • Brand positioning
  • Brand personality
• Product and brand portfolio management

6. Pricing Strategies

• Objectives of pricing
• Factors affecting pricing decisions
• Pricing methods:
  • Cost-based pricing
  • Value-based pricing
  • Competition-based pricing
• Pricing strategies:
  • Penetration pricing
  • Skimming pricing
  • Psychological pricing
  • Dynamic pricing

7. Promotion and Marketing Communication

• Role of promotion in marketing
• Promotional mix elements:
  • Advertising
  • Sales promotion
  • Public relations
  • Personal selling
  • Direct marketing
• Integrated Marketing Communications (IMC)
• Communication process and message strategies

8. Distribution Channels and Logistics

• Definition and importance of distribution channels
• Types of distribution channels
• Channel functions and intermediaries
• Channel design and management
• Logistics and supply chain management basics
• Role of technology in distribution and logistics

9. Marketing Research and Analytics

• Purpose and importance of marketing research
• Research process:
  • Defining the problem
  • Designing the research
  • Data collection methods (qualitative and quantitative)
  • Data analysis and interpretation
• Marketing analytics tools and techniques
• Measuring marketing campaign effectiveness

10. Ethical and Social Responsibility in Marketing

• Ethical issues in marketing (truth in advertising, privacy, product safety)
• Social responsibility and sustainability in marketing
• Consumer rights and protection
• Ethical frameworks and decision-making in marketing
• Case studies on ethical dilemmas in marketing