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Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Marketing Management Process for Marketing Management MCOM Sem 2 Delhi University : The Department of Commerce was established in 1967 with the renowned flagship post-graduate programmeMasters in Commerce (M.Com). Apart from the other post-graduate and research courses M.Com is the most exalted two year full time post-graduate programme in commerce. The course provides an extreme and rigorous base for teaching, research and allied business administration. The programme is well received in the industry and for years had been serving the needs of managerial cadre in Indian Inc.

The course serves the needs of academics and prepares students for research and teaching. The Alumni of this course are well placed in business, academics and administration in the country as well as abroad. In the year 2009, this course was changed from annualized to semester mode dividing the whole course into 4 semesters. During the semesterization of the course, the then existing curriculum (annual mode) was adopted for semester mode, without any change. Moreover, in the light of augmentation in the field of commerce and business, the syllabi have not been updated since long. Thus, in view of widening the scope and depth of the course and inclusion of research paradigms of commerce stream, the overall structure of the course has been changed. Further, the overall structure has been improved to provide an insight of research in commerce and interdisciplinary areas and to facilitate those students aspiring for direct Ph.D. admissions.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

M.Com. Programme Structure

The programme shall be governed by the Department of Commerce, Faculty of Commerce and Business, University of Delhi, Delhi – 110007

Programme Structure

The M.Com. Programme is divided into two parts as under. Each Part will consist of two semesters.

SemesterSemester
Part – I First Year Semester ISemester II
Part – II Second YearSemester III Semester IV

* There will be 4 lecture hours of teaching per week for each paper

* Duration of examination of each paper shall be 3 hours.

* Each paper will be of 100 marks out of which 70 marks shall be allocated for semester examination and 30 marks for internal assessment.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Part I: Semester II

PAPERSMarksTotal Marks Duration (Hrs.) Credit (Hrs.)
Paper No. TitleWritten Internal Assessment
4201Quantitative Techniques for Business70   301004
4202Financial management and Policy70  3010034
4203Marketing Management70  3010034
4204Legal Aspects of Business70  3010034
4205International Business70  3010034
TOTAL50020

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Master of Commerce Semester II Course 4203: MARKETING MANAGEMENT

Marks: 100 (Theory = 70, Internal Assessment = 30)

Objective:

To familiarize the students with the basic concepts and principles of marketing and to develop their conceptual and analytical skills to be able to manage marketing operations of a business firm.

Contents:

Unit I-Introduction:

  • Nature and Scope of Marketing; Core Marketing Concepts; Evolution of modern marketing concept; Modern marketing concepts; Marketing Mix; Marketing management process-a strategic perspective; Customer quality, value and satisfaction; Planning and control.
  • Marketing Environment: Significance of scanning marketing environment; Analyzing macro environment of marketing-economic, demographic, socio-cultural, technological, political and legal segments; Impact of micro and macro environment on marketing decisions.
  • Buyer behaviour: Need for studying buyer behaviour; Consumer vs. business buying behaviour; Consumer buying decision process and influences; Industrial buying process.Market Segmentation,
  • Targeting and Positioning: Bases for segmenting a consumer market; Levels of market segmentation; Factors influencing selection of market segments; Criteria for effective market segmentation; Target market selection and strategies;
  • Positioning – concept, bases and process.

Unit II-Product and Pricing Decisions:

  • Product – concept and classification; Major product decisions; New product development; Packaging and labelling; Product support services; Branding decisions;
  • Product life cycle – concept and appropriate strategies adopted at different stages. Pricing- Objectives, Factors affecting price of a product, Pricing policies and strategies. Ethical issues in product and pricing decisions.

Unit III-Distribution Decisions:

  • Channels of distribution – concept and importance; Different types of distribution middlemen and their functions; Channel management, selection, motivation and performance appraisal of distribution middlemen;
  • Distribution logistics – concept, importance and major logistics decisions; Channel integration and systems. Ethical issues in distribution decisions.
  • Retailing and Wholesaling: Types of retail formats; Retail theories; Retailing strategies; Non-Store retailing; Wholesaling-nature and importance, types of wholesalers; Developments in retailing and wholesaling in Indian perspective.

Unit IV-Promotion Decisions:

  • Role of promotion in marketing; Promotion methods;
  • Integrated Marketing Communication – Concept; Communication process and promotion; Determining promotion mix; Factors influencing promotion mix; Developing advertising campaigns. Ethical issues in promotion decisions.

Unit V- Marketing Planning, Organising and Control:

Marketing planning process; Different ways of organising marketing department; Sales, cost and profit analysis.

Unit VI-Trends in Marketing:

Service Marketing, Social Media Marketing, Green Marketing, Customer Relationship Management, Rural marketing, other emerging trends. Department of Commerce, University of Delhi

Note: Class discussions to be supported by relevant case studies.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Suggested Readings:

1. Kotler, Philip; Keller, Kevin Lane; Koshy, Abraham, and Mithileshwar Jha, Marketing Management: A South Asian Perspective, Pearson.

2. Lamb, Charles W.; Hair, Joseph F., and Carl McDaniel, Mktg, Cengage Learning.

3. Etzel, Michael J., Walker, Bruce J., Staton, William J., and Ajay Pandit, Marketing Concepts and Cases, Tata McGraw Hill (Special Indian Edition).

4. Czinkota, Miachel, Marketing Management, Cengage Learning.

5. Kazmi, SHH, Marketing Management Text and Cases, Excel Books.

6. Kumar, Arun and N. Meenakshi, Marketing Management, Vikas Publishing House.

7. Zikmund, William G. and Michael D’Amico, Marketing: Creating and Keeping Customers in an ECommerce World, South-Western College Pub.

Note: Latest edition of the readings may be used.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

MARKETING MANAGEMENT—NATURE, IMPORTANCE AND CONCEPT

According to American Marketing Association, “marketing is the performance of Business activities  that direct the flow of goods and services from producer to consumer/user”. Hence, Marketing is the managerial process by which products are matched with markets and through which transfers of ownership are effected.

Institute of Marketing of U.K. has defined Marketing as “the creative management function which  promotes trade and employment by assessing consumer needs and initiating research development to meet them. It co-ordinates the resources of production and distribution of goods and services, determines and directs the nature and scale of the total efforts required to sell profitably, the maximum production to the ultimate user”. Sometimes, selling and marketing are considered as same things. But selling is normally considered with the plans and ideas of trying to make consumer exchange what he has (money) for what  we  have as producers (goods or services).

Whereas, Marketing is related to the needs of the buyer and is limited to the ideas of satisfying a consumer’s requirements by means of the products as well as by giving the customer with value satisfaction which ultimately ensures the profitability of activities of the concern. Hence, Marketing thinking must precede the production activities. Even when the product reaches the customer, it must satisfy the customer with after-sales service also.

Hence, we can also define the Marketing Management as “the process of ascertaining consumer needs, converting them into products or services and then moving the products or services to the final consumer/user to satisfy such needs and wants of specific customers segments with emphasis on profitability while ensuring the optimum use of the resources available to the organisation”. This definition includes these 3 important features

(a)   consumer study/orientation,

(b)   profitability for the concern and

(c)   the Optimum use of available limited resources.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Marketing Process

Objectives:

In this lesson, we will introduce you to the activities that makeup the marketing process. After you work out this lesson, you should be able to:

  • Identify the parts of the marketing process  Understand the relationships among the parts of the marketing process

Explain how the marketing process creates, captures and sustains value for the customer In this lesson, we will discuss the following:

  • Formulation of marketing strategy
  • Marketing planning
  • Marketing programming, allocating and budgeting
  • Marketing implementation
  • Monitoring and auditing
  • Analysis and research
  • Schematic of marketing process

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Introduction

While there is lot of focus on the substance of marketing, particularly the marketing mix, an equally important aspect of marketing is the marketing process – how marketers do their job. The process is equal in importance to the substance because the process determines the nature and quality of the decisions made. A good process is likely to lead to a good decision. On the other hand, a faulty process will produce a good decision only on a random or accidental basis. The marketing process can be divided in several different ways. One popular conceptualization of marketing tasks is:

1. Strategy formulation – the development of the broadest marketing/business strategies with the longest term impact

2. Marketing planning – the development of longer-term plans which have generally stronger impact than the short-term programs

3. Marketing programming, allocating and budgeting – the development of short-term programs which generally focus on integrated approaches for a given product and on the allocation of scarce resources such as sales effort or product development time across various products and functions

4. Marketing implementation – the actual task of getting the marketing job done

5. Monitoring and auditing – the review and analysis of programs, plans and strategies to assess their success and to determine what changes must be made

6. Analysis and research – the deliberate and careful acquisition and examination of qualitative and quantitative data to improve decision making

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

Though implied and considered as part of the overall corporate planning, the importance of situation analysis can never be undermined during marketing strategy formulation. Especially under product policies, but throughout the marketing mix elements, the company, customer and competitive scanning is so essential to marketing success. Situation analysis describes the process by which environmental assessment, marketing research and market size/growth estimates get done.

It pays particular attention to environment scanning skills useful in forecasting and modeling consumer behaviour. It is important to note that each part of the process is intimately related to the other parts of the process. Figure 1.3.1 is an attempt to capture the more important relationships. The dividing lines between any two parts of the process are vague and unclear. This is particularly true of those elements of the processes which are clearly connected.

 Each element can be divided into smaller subelements. For example, marketing planning includes market assessment which is the evaluation and selection to serve specific customer markets. Product line planning is another subelement of marketing planning.

Marketing Management Process for Marketing Management Mcom Sem 2 Delhi University

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