1.

An Introduction to Marketing

13

1.1

Definition on Marketing

13

1.2

Evolution of Marketing

15

1.3

Concepts of Marketing

17

1.4

Functions of Marketing

20

1.5

Difference Between Marketing and Selling

25

1.6

Creating a Customer

27

1.7

Scope of Marketing

30

2.

Marketing Environment

35

2.1

Introduction

35

2.2

Nature and Characteristics of Marketing Environment

36

2.3

Structure of the Marketing Environment

37

2.4

Environmental Scanning and Market Intelligence

42

2.5

Impact of Digital Transformation on Marketing Environment

43

2.6

Marketing Environment in the Indian Context

45

2.7

Challenges in Managing the Marketing Environment

46

2.8

Future Trends in the Marketing Environment

47

3.

Marketing Mix

51

3.1

Introduction to the Marketing Mix

3.2

Objectives and Importance of the Marketing Mix

52

3.3

Characteristics of the Marketing Mix

55

3.4

Elements of the Marketing Mix: The 4Ps Framework

56

3.5

Product Decisions in Marketing Management

61

3.6

Meaning of Product

62

3.7

Key Product Decisions

63

3.8

Production Classification

64

3.9

Product Mix, Product Line and Product Depth

69

3.10

Introduction to Pricing

74

3.11

Objectives of Pricing Decisions

74

3.12

Factors Influencing Pricing Decisions

75

3.13

Common Pricing Strategies

78

3.14

Pricing Adjustments and Tactics

82

3.15

Importance of Pricing Decisions in Marketing Management

84

3.16

Meaning and Significance of Promotion

85

3.17

Objectives of Promotion Mix

86

3.18

Elements of the Promotion Mix

87

3.19

Contemporary Enhancements to Promotion Mix

91

3.20

Factors Governing Promotion Mix Decisions

94

3.21

Meaning and Significance of Place

98

3.22

Objectives of Distribution Decisions

99

3.23

Importance of Place in Marketing

100

3.24

Introduction to Distribution Channels and Types of Distribution Channels

101

3.25

Types of Distribution Intensity Strategies

103

3.26

Place Strategy for Services

104

3.27

Types of Market Intermediaries

105

3.28

Components of Physical Distribution and Logistics

108

3.29

The Channel Management Process and its Components

111

3.30

Factors Influencing Distribution Decisions

114

3.31

Strategic Role of the Marketing Mix in Competitive Positioning

116

3.32

Marketing Mix Across Industries

117

3.33

Marketing Mix in the Digital Era

120

3.34

Marketing Mix Integration with Consumer Behaviour

121

3.35

Ethical and Legal Considerations in Marketing Mix Decisions

123

3.36

Challenges in Managing the Marketing Mix

124

3.37

Future Trends in Marketing Mix Strategy

127

4.

Service Marketing

129

4.1

Introduction to Service Marketing

129

4.2

Characteristics of Services

130

4.3

Service Marketing Mix (7Ps of Services)

131

4.4

Consumer Behaviour in Service Marketing

134

4.5

Service Quality and Customer Satisfaction

135

4.6

Service Branding and Relationship Marketing

136

4.7

Digital Transformation in Service Marketing

137

4.8

Challenges and Future Trends in Service Marketing

139

4.9

Service Marketing in Action: Industry-Based Business Examples

140

5.

Product Life Cycle

143

5.1

Introduction to Product Life Cycle (PLC)

143

5.2

Concept and Characteristics of Product Life Cycle

144

5.3

Stages of Product Life Cycle

145

5.4

Marketing Strategies in Introduction Stage

148

5.5

Marketing Strategies in Growth Stage

149

5.6

Marketing Strategies in Maturity Stage

151

5.7

Marketing Strategies in Decline Stage

152

5.8

Product Life Cycle and Branding Decisions

154

5.9

Product Life Cycle and Portfolio Management

154

5.10

Factors Influencing Product Life Cycle

156

5.11

Digital Transformation and Product Life Cycle

157

5.12

Challenges and Limitations of the PLC Model

158

5.13

Product Life Cycle in Practice: Industry-Based Applications

160

6.

Consumer Behaviour

163

6.1

Introduction to Consumer Behaviour

163

6.2

Nature and Scope of Consumer Behaviour

164

6.3

Consumer Decision-Making Process

167

6.4

Factor Influencing Consumer Behaviour

168

6.5

Psychological Factors Influencing Consumer Behaviour

172

6.6

Social and Cultural Influences on Consumer Behaviour

174

6.7

Personal Factors Affecting Consumer Decisions

176

6.8

Consumer Buying Behaviour Types

178

6.9

Consumer Involvement and Engagement

180

6.10

Digital Consumer Behaviour

181

6.11

Consumer Perception of Brands and Products

182

6.12

Consumer Research and Analytics

183

6.13

Ethical Issues in Consumer Behaviour

184

6.14

Emerging Trends in Consumer Behaviour

186

6.15

Consumer Behaviour in Action: Industry Examples and Insights

187

7.

Segmentation, Targeting and Positioning (STP) in Modern Marketing Management

189

7.1

Introduction to STP Strategy

189

7.2

Understanding Market Segmentation

190

7.3

Segmentation Variables and Criteria

192

7.4

Target Market Selection

194

7.5

Targeting Strategies

198

7.6

Positioning Strategy and Brand Perception

201

7.7

Positioning Process and Implementation

206

7.8

Repositioning and Market Adaptation

208

7.9

Role of Digital Transformation in STP

213

7.10

Ethical and Legal Considerations in STP

215

7.11

Challenges in Implementing STP

216

7.12

Future Trends in Segmentation, Targeting and Positioning

218

7.13

Industry Examples of STP

219

8.

Marketing Intermediaries and Channel Partners in Distribution Management

223

8.1

Introduction to Middlemen in Marketing

223

8.2

Nature and Importance of Marketing Intermediaries

224

8.3

Types of Middlemen in Marketing Channels

226

8.4

Types of Retail Trade

246

8.5

Functions Performed by Middlemen

249

8.6

Channel Structure and Levels of Distribution

251

8.7

Role of Middlemen in Value Creation

256

8.8

Selection and Management of Channel Partners

259

8.9

Channel Conflict and Relationship Management

265

8.10

Technology and Digital Transformation of Middlemen

270

8.11

Ethical Issues and Legal Aspects in Channel Management

271

8.12

Challenges Faced by Middlemen in Modern Markets

274

8.13

Future Trends in Marketing Intermediaries

276

8.14

Industry Examples of Marketing Intermediaries and Channel Partners in Distribution Management

277

9.

Sales Promotion

281

9.1

Introduction to Sales Promotion

281

9.2

Nature and Characteristics of Sales Promotion

282

9.3

Objectives of Sales Promotion

283

9.4

Importance of Sales Promotion in Marketing Management

284

9.5

Types of Sales Promotion

285

9.6

Sales Promotion Tools and Techniques

288

9.7

Sales Promotion Planning Process

291

9.8

Sales Promotion Strategies in B2C and B2B Markets

293

9.9

Integration of Sales Promotion with Advertising and Personal Selling

295

9.10

Role of Technology in Sales Promotion

297

9.11

Ethical Issues and Regulations in Sales Promotion

298

9.12

Measuring Effectiveness of Sales Promotion

299

9.13

Challenges in Sales Promotion

301

9.14

Future Trends in Sales Promotion

303

9.15

Industry Examples of Sales Promotion

305

10.

Advertising

309

10.1

Introduction to Advertising

309

10.2

Nature and Characteristics of Advertising

310

10.3

Objectives of Advertising

311

10.4

Importance of Advertising in Marketing Management

313

10.5

Components of Advertising Department

314

10.6

Types of Advertising

315

10.7

Advertising Media and Media Planning

317

10.8

Advertising Process and Campaign Planning

319

10.9

Creative Strategy in Advertising

321

10.10

Advertising Budgeting Methods

324

10.11

Role of Technology and Digital Advertising

326

10.12

Advertising Ethics and Regulations

327

10.13

Measuring Advertising Effectiveness

329

10.14

Advertising vs Personal Selling and Sales Promotion

330

10.15

Challenges in Advertising

332

10.16

Future Trends in Advertising

334

11.

Personal Selling

337

11.1

Introduction to Personal Selling

337

11.2

Nature and Characteristics of Personal Selling

338

11.3

Objectives of Personal Selling

338

11.4

Importance of Personal Selling in Marketing Management

340

11.5

Benefits of Personal Selling

340

11.6

Terminologies in Personal Selling

342

11.7

Types of Personal Selling

344

11.8

Personal Selling Process

346

11.9

Roles and Responsibilities of a Salesperson

347

11.10

Qualities of a Good Salesperson

349

11.11

Personal Selling vs Advertising and Sales Promotion

350

11.12

Communication Skills in Personal Selling

352

11.13

Personal Selling Strategies

353

11.14

Personal Selling in Different Industries

355

11.15

Ethical Issues in Personal Selling

356

11.16

Technology and Digital Tools in Personal Selling

357

11.17

Challenges in Personal Selling

358

11.18

Future Trends in Personal Selling

360

12.

Brand Strategy, Identity and Packaging Management

363

12.1

Introduction to Branding and Packaging

363

12.2

Brand and Commodity: Concept and Distinction

364

12.3

Brand Elements

364

12.4

Importance of Branding in Marketing Management

366

12.5

Types of Branding

368

12.6

Types of Brands

370

12.7

Brand Equity and Brand Value

372

12.8

Brand Positioning and Brand Identity

374

12.9

Brand Management Strategies

375

12.10

Advantages of Brand Names

377

12.11

Characteristics of a Good Brand Name

379

12.12

Introduction to Packaging

380

12.13

Levels and Types of Packaging

380

12.14

Role of Packaging in Branding

382

12.15

Packaging Design and Development

384

12.16

Legal and Ethical Aspects of Branding and Packaging

385

12.17

Functions of Packaging

386

12.18

Sustainable and Eco-Friendly Packaging

388

12.19

Digital Branding and Smart Packaging

388

12.20

Challenges in Branding and Packaging

389

12.21

Future Trends in Branding and Packaging

390

12.22

Labelling

391

13.

Sales Forecasting

393

13.1

Introduction to Sales Forecasting

393

13.2

Objectives of Sales Forecasting

394

13.3

Importance of Sales Forecasting in Marketing Management

395

13.4

Types of Sales Forecasts

396

13.5

Sales Forecasting Process

397

13.6

Factors Affecting Sales Forecasting

398

13.7

Sales Forecasting Methods

400

13.8

Role of Technology in Sales Forecasting

403

13.9

Sales Forecasting Across Industries

404

13.10

Challenges in Sales Forecasting

405

13.11

Ethical Issues and Forecasting Bias

407

13.12

Future Trends in Sales Forecasting

408

14.

Consumer Protection

409

14.1

Introduction to Consumer Protection

409

14.2

Need for Consumer Protection in India

410

14.3

Consumer Rights in India

411

14.4

Consumer Responsibilities in India

413

14.5

Consumer Protection Act, 2019

414

14.6

Consumer Dispute Redressal Mechanism in India

417

14.7

Role of Government in Consumer Protection

419

14.8

Role of Consumer Organisations in India

421

14.9

Ways and Means of Consumer Protection

422

14.10

Consumer Protection in the Digital Era

425

14.11

Challenges of Consumer Protection in India

426

15.

Marketing Planning

429

15.1

Introduction to Marketing Planning

429

15.2

The Marketing Planning Process

431

15.3

Elements of Marketing Planning

434

15.4

Importance of Marketing Planning

437

15.5

Factors Affecting Marketing Planning

439

15.6

Challenges in Marketing Planning

445

15.7

Future Trends in Marketing Planning

447

15.8

Best-Practice Marketing Planning: Case Examples from India and Global Markets

448

16.

Marketing Analytics

451

16.1

Introduction to Marketing Analytics

451

16.2

Meaning and Definition of Marketing Analytics

452

16.3

Evolution of Marketing Analytics in India

453

16.4

Objectives of Marketing Analytics

454

16.5

Types of Marketing Analytics

455

16.6

Sources of Marketing Data in India

457

16.7

Marketing Analytics Tools and Techniques

459

16.8

Marketing Analytics Across the Marketing Mix

463

16.9

Marketing Analytics in Service Marketing

465

16.10

Marketing Analytics in Digital Marketing

467

16.11

Role of Marketing Analytics in Strategic Decision-Making

469

16.12

Challenges in Implementing Marketing Analytics in India

470

16.13

Ethical and Legal Considerations in Marketing Analytics

472

Index

477