Fundamentals Of Marketing (MGT-210) Mr. Abid Saeed (Assistant Professor)

 Students understand the basic concepts, theories, processes and terminology of contemporary marketing.  Analyze marketing problems and suggest workable solutions.  Understand the effects of the marketing concept on consumers and society.  Develop a consciousness about the importance of ethics in the marketing discipline. Course Objectives

 Understand the importance of marketing in business practices.  Understand the various marketing mix tools: product, pricing, promotion, and distribution.  Recommend and justify an appropriate mix of such strategies to form a cohesive overall strategy for a given marketing task or situation. Learning Outcomes

 Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall  Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc.  Principles and Practices of Marketing by Jobber, D. 4th edition, McGraw Hill International.  Principles of Advertising & IMC by Tom Duncan 2 nd Edition, Published by McGraw-Hill Irwin. Recommended Books

My basic teaching philosophy for this course is to blend the theory and practice of Marketing in a comfortable, supportive & easy language that promotes active learning. Teaching Methodology

Assessment Criteria Your assessment & final grades will be based as per University existing rules. ITEMASSESSMENT TASKTOTAL MARKS 1Assignments (4)10% 2Quizzes (4)10% 3 Graded Discussion Topics (4) 05% 41st Sessional10% 52 nd Sessional15% 6Final Examination50%

Course Outline  Marketing: Creating and Capturing Customer Value.  Company and Marketing Strategy: Partnering to Build Customer Relationships.  Analyzing the Marketing Environment.  Managing Marketing Information to Gain Customer Insights.  Consumer Markets and Consumer Buyer Behavior.  Business Markets and Business Buying Behavior.  Customer-Driven Marketing Strategy: Creating Value for Target Customers.  Product, Services, and Brands: Building Customer Value.  New-Product Development and Product Life-Cycle Strategies.  Understanding and Capturing Customer Value.

Course Outline...  Pricing Strategies.  Marketing Channels: Delivering Customer Value.  Retailing and Wholesaling.  Communicating Customer Value: Integrated Marketing Communications Strategy.  Advertising and Public Relations.  Personal Selling and Sales Promotion.  Direct and Online Marketing: Building Direct Customer Relationships.  Creating Competitive Advantage.  The Global Marketplace.  Sustainable Marketing Social Responsibility and Ethics.

Marketing: Creating and Capturing Customer Value LECTURE-1

 What Is Marketing?  Marketing process  Understanding the Marketplace and Customer Needs Topic Outline

What Is Marketing? Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return.

Marketing Process

States of deprivation Physical—food, clothing, warmth, safety Social—belonging and affection Individual—knowledge and self-expression Needs Form that needs take as they are shaped by culture and individual personality Wants Wants backed by buying power Demands Customer Needs, Wants, and Demands Understanding the Marketplace and Customer Needs

 Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want  Marketing myopia is focusing only on existing wants and losing sight of underlying consumer needs

Understanding the Marketplace and Customer Needs Customer Value and Satisfaction Expectations Customers Value and satisfaction Marketers Set the right level of expectations Not too high or low

Understanding the Marketplace and Customer Needs Exchange the act of obtaining a desired object from someone by offering something in return Marketing actions try to create, maintain, grow exchange relationships.

Understanding the Marketplace and Customer Needs Markets are the set of actual and potential buyers of a product

Bibliography  Principles of Marketing by Philip Kotler & Gary Armstrong Fifteenth Edition, Published by Prentice Hall  Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13th Edition, Published by Pearson Education, Inc.  Principles and Practices of Marketing by Jobber, D. 4th edition, McGraw Hill International.  Principles of Advertising & IMC by Tom Duncan 2 nd Edition, Published by McGraw-Hill Irwin.

The End "Unless you try to do something beyond what you have already mastered, you will never grow." Ronald E. Osborn