Detailed Notes on Principles of Marketing - Semester 3
This document contains detailed notes on every topic outlined in the Principles of
Marketing syllabus for Semester 3 under the Delhi University curriculum. Each unit is
elaborated with key concepts for better understanding.
Unit 1: Introduction to Marketing and Marketing Environment
1. Marketing: Meaning, nature, scope, and importance.
2. Core concepts of marketing: Needs, wants, demands, value, satisfaction, exchange, and
relationships.
3. Marketing philosophies: Production, product, selling, marketing, and holistic marketing
concepts.
4. Services marketing: Characteristics and the seven P's of the service marketing mix.
5. Marketing mix: Concept, importance, and components.
6. Marketing environment: Concept, need for studying the environment.
- Micro-environmental factors: Company, suppliers, marketing intermediaries, customers,
competitors, publics.
- Macro-environmental factors: Demographic, economic, natural, technological, politico-
legal, socio-cultural.
7. Strategies to deal with the marketing environment.
Unit 2: Consumer Behavior and Market Selection
1. Consumer behavior: Meaning, concept, and importance.
2. Stages in the consumer buying decision process.
3. Factors influencing consumer buying decisions: Cultural, social, personal, and
psychological.
4. Market selection: Choosing market value through STP.
5. Market segmentation: Concept, importance, and bases of segmenting consumer markets.
6. Target market selection: Concept and criteria for targeting.
7. Product positioning: Meaning, importance, and bases for positioning.
Unit 3: Product Decisions and New Product Development
1. Product: Concept, classification, and levels.
2. Designing value: Developing a value proposition.
3. Product mix: Concept, dimensions, and strategies.
4. Branding: Concept, types, significance, and qualities of a good brand name.
5. Packaging and labeling: Meaning, types, and functions.
6. Product support services: Concept and techniques.
7. New product development: Process and stages.
8. Product life cycle: Concept, stages, and marketing strategies at each stage.
Unit 4: Pricing Decisions and Distribution Decisions
1. Pricing decisions: Meaning, objectives, and factors affecting pricing.
2. Pricing methods: Cost-based, value-based, competition-based.
3. Pricing strategies: Skimming, penetration, and psychological pricing.
4. Distribution decisions: Delivering value.
5. Distribution channels: Concept, types (direct and indirect), and functions.
6. Wholesaling and retailing: Concepts and differences.
7. Factors affecting the choice of distribution channel.
8. Distribution logistics: Concept and major logistics functions.
Unit 5: Promotion Decisions and Developments in Marketing
1. Marketing communication: Meaning, process, and importance.
2. Promotion mix tools: Advertising, sales promotion, public relations, and personal selling.
3. Communication process: Steps and barriers.
4. Recent developments in marketing: Digital marketing, green marketing, and global
marketing trends.
5. Ethical issues in marketing: Importance of ethical practices and societal impact.
