Marketing Management Notes
Unit I: Marketing Management (10 Hours)
1. Nature and Scope of Marketing Management:
• Nature: Marketing management involves planning, organizing, directing, and
controlling activities related to the marketing of goods and services. It focuses on
satisfying customer needs while achieving organizational goals.
• Scope: It includes market research, product development, pricing, distribution,
promotion, and customer service.
2. Evolution of Marketing:
• Marketing has evolved from a product-centric approach to a customer-centric
approach. Key stages include:
o Production Era: Focus on mass production and efficiency.
o Sales Era: Emphasis on selling and promotion.
o Marketing Era: Focus on customer needs and satisfaction.
o Relationship Era: Building long-term relationships with customers.
3. Selling vs. Marketing:
• Selling: Focuses on pushing products to customers through aggressive sales
techniques.
• Marketing: Focuses on understanding customer needs and creating value
through products and services.
4. Marketing Mix for Products and Services:
• The 4Ps of Marketing (for products):
o Product: Design, features, quality, branding.
o Price: Pricing strategies, discounts, payment terms.
o Place: Distribution channels, logistics.
o Promotion: Advertising, sales promotion, public relations.
• The 7Ps of Marketing (for services):
o Adds People, Process, and Physical Evidence to the 4Ps.
5. Marketing Environment:
• Concept: The external and internal factors that influence marketing decisions.
• Need for Study: Understanding the environment helps in adapting to changes
and making informed decisions.
• Major Elements:
o Micro Environment: Customers, competitors, suppliers, intermediaries.
o Macro Environment: Economic, social, technological, political, and legal
factors.
• Impact on Marketing Decisions: Changes in the environment can affect product
demand, pricing, distribution, and promotional strategies.
Unit II: Consumer Behavior (14 Hours)
1. Concept and Nature of Consumer Behavior:
• Concept: Consumer behavior refers to the study of how individuals, groups, or
organizations select, buy, use, and dispose of goods, services, or ideas to satisfy
their needs.
• Nature: It is influenced by psychological, social, cultural, and personal factors.
2. Importance of Understanding Consumer Behavior:
• Helps in designing products and services that meet customer needs.
• Enables effective targeting and positioning.
• Improves customer satisfaction and loyalty.
3. Determinants of Consumer Behavior:
• Psychological Factors: Motivation, perception, learning, attitudes, beliefs.
• Social Factors: Family, reference groups, roles, status.
• Cultural Factors: Culture, subculture, social class.
• Personal Factors: Age, occupation, lifestyle, personality.
4. Types of Consumer Buying Behavior:
• Routine Buying: Low involvement, frequent purchases (e.g., groceries).
• Limited Decision-Making: Moderate involvement (e.g., clothing).
• Extensive Decision-Making: High involvement, expensive purchases (e.g., cars,
houses).
• Impulse Buying: Unplanned purchases driven by emotions.
5. Consumer vs. Organizational Buyer:
• Consumer Buyer: Individuals buying for personal use.
• Organizational Buyer: Businesses buying for production, resale, or operational
use.
6. Family Buying Behavior:
• Roles in family decision-making:
o Initiator: Suggests the idea of buying.
o Influencer: Affects the decision.
o Decider: Makes the final decision.
o Buyer: Makes the purchase.
o User: Uses the product.
7. Consumer Decision-Making Process:
• Steps:
1. Problem Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Post-Purchase Behavior
8. Market Segmentation:
• Nature: Dividing a market into distinct groups of buyers with similar needs,
characteristics, or behaviors.
• Importance: Helps in targeting specific customer groups effectively.
• Prerequisites for Effective Segmentation:
o Measurability
o Accessibility
o Substantiality
o Actionability
• Bases of Segmenting Consumer Markets:
o Demographic (age, gender, income)
o Geographic (region, city)
o Psychographic (lifestyle, personality)
o Behavioral (usage rate, loyalty)
9. Market Selection Strategies:
• Undifferentiated Marketing: Targeting the entire market with one offer.
• Differentiated Marketing: Targeting multiple segments with different offers.
• Concentrated Marketing: Focusing on one or a few segments.
10. Positioning:
• Concept: Creating a distinct image of the product in the minds of the target
audience.
• Strategies:
o Attribute Positioning: Based on product features.
o Benefit Positioning: Based on customer benefits.
o Usage Positioning: Based on usage occasions.
o Competitor Positioning: Comparing with competitors.
11. Case Study:
• Application of theoretical concepts to real-world scenarios to understand
consumer behavior and marketing strategies.
Paper Pattern (30 Marks)
Total Marks: 30
Duration: 2 Hours
Section 1 (Q1):
• 5 Questions, 1 mark each (5 x 1 = 5 Marks)
• Type: Very short answer questions (one-liners or definitions).
Section 2 (Q2):
• 2 Questions, 4 marks each (2 x 4 = 8 Marks)
• Type: Short answer questions (explain concepts briefly).
Section 3 (Q3):
• 1 Question, 7 marks (1 x 7 = 7 Marks)
• Type: Short descriptive answer (170 words).
Section 4 (Q4):
• 1 Question, 10 marks (1 x 10 = 10 Marks)
• Type: Long descriptive answer (300 words).
Important Questions
Section 1 (Q1): 1 Mark Each
1. Define marketing management.
2. What is the difference between selling and marketing?
3. Name the 4Ps of the marketing mix.
4. What is consumer behavior?
5. Define market segmentation.
6. What is positioning in marketing?
7. Name two psychological factors affecting consumer behavior.
8. What is the role of family in consumer buying behavior?
9. Define the marketing environment.
10. What is the importance of understanding consumer behavior?
Section 2 (Q2): 4 Marks Each
1. Explain the nature and scope of marketing management.
2. Differentiate between the marketing mix for products and services.
3. Explain the concept of the marketing environment and its major elements.
4. Describe the types of consumer buying behavior.
5. What are the prerequisites for effective market segmentation?
6. Explain the concept of positioning and its strategies.
7. Discuss the role of cultural factors in consumer behavior.
8. What is the consumer decision-making process?
Section 3 (Q3): 7 Marks (170 Words)
1. Explain the evolution of marketing from the production era to the relationship
era.
2. Discuss the determinants of consumer behavior in detail.
3. Analyze the impact of the marketing environment on marketing decisions.
4. Explain the concept of market segmentation and its importance.
5. Describe the steps involved in the consumer decision-making process.
Section 4 (Q4): 10 Marks (300 Words)
1. Discuss the marketing mix (4Ps) for products and how it differs from the
marketing mix for services (7Ps).
2. Explain the concept of consumer behavior and its importance in designing
marketing strategies.
3. Analyze the role of family and social factors in influencing consumer buying
behavior.
4. Discuss the bases of market segmentation and how they can be used to target
specific customer groups.
5. Explain the concept of positioning and discuss its strategies with examples.
Tips for Exam Preparation:
1. Section 1 (Q1): Focus on definitions and one-liners. Memorize key terms and
concepts.
2. Section 2 (Q2): Practice concise explanations of concepts. Use bullet points or
short paragraphs.
3. Section 3 (Q3): Write structured answers in 170 words. Focus on clarity and
relevance.
4. Section 4 (Q4): Write detailed answers in 300 words. Use examples, diagrams,
and case studies to support your points.
