Teaching and learning at Xcellon

Program Course

Some terms in teaching and Learning

Curriculum Curriculum Document Program Objectives Learning Outcomes Essential, critical and need to know concepts Textbooks, reference books, journals Quizzes, assignments., projects etc

PO for PGP GM
After the PGP GM program students Would be able to have an understanding of management as a discipline Will be able to comprehend theories in Management Should be able to understand personal experiences in a work organisation in terms of management theory Under supervision, Be Able to as individual and as a group member collect, tabulate, organise and present data for aiding management decisions Should be able to do managerial tasks as delegated Should be able to identify, interact, categorize, and recommend for operational decisions Learn from experience and ready oneself to take up next level of work responsibility Understanding organization structure and comprehend implication for one's own work role Should be able to state the implication of larger social, economic, political events to business of organization

PO for Marketing Elective

After the successful completion of Marketing as an elective, Participants will be able to : 1) Will be able to make a sense of & cite the current practices in marketing and will be able to classify them as good and not so good practices 2) Will be able to relate concepts of marketing to other operations & management functions 3) Under supervision, a) As a individual and as a group member collect, tabulate, organise and present data for aiding marketing decisions & support problem solving. b) Should be able to do marketing tasks as delegated c) Should be able to identify, interact, categorise, and recommend for marketing decisions 4) Learn from experience in the field of marketing and ready oneself to take up next level of work responsibility

Learning Outcomes for Marketing Management 1 Course

After the course, the participants will be able to Will be able to define, understand and list frequently used terms and concepts associated with marketing as a function Should be able to describe relation between different marketing concepts (to assist construction of Marketing Plans) Will be able to cite examples of Marketing practices followed by firms in select industries Should be able to make sense of/ paraphrase good and not so good present and past marketing practices used by firms Will be able to categorise information to component parts and should be able to classify elements to help to craft marketing strategy To be able to make sense of marketing concepts to real life business solutions falling in the work domain

Session Plan
1 Introduction to Marketing Definition of Marketing Management, Marketing Concepts, Marketing Mix and Marketing Challenges for 21st Century 2 - 3 Customer Value and Customer Satisfaction Concept of Customer Value and Customer Satisfaction, delivering customer value and satisfaction 4 -5 Marketing Environment Macro environment, Micro Environment and Global Environment 6 - 7 Strategic Planning Process in Marketing Scope and Importance of Strategic Planning, Definition of Strategic Market Planning, Corporate and Divisional Strategic Planning, Establishment of SBUs and resource allocation, The BCG Competitive Advantage Matrix, General Electric Model, Integrative and Diversification Growth, Strategic Business Planning, SWOT Analysis, Marketing Process

Chapter 1 Introduction to Marketing

Why is marketing important? What is the scope of marketing? What are some fundamental marketing concepts? How has marketing management changed? What are the tasks necessary for successful marketing management?

What is Business after all??

Good Marketing is No Accident

The roaring success of four-wheeler Tata Ace, in a market earlier dominated by threewheeler load carriers, was due to a deep understanding of the market needs and customer requirements.

What is Marketing?
Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

What is Marketing Management?

Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Selling is only the tip of the iceberg

There will always be a need for some selling. But the aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy. All that should be needed is to make the product or service available. Peter Drucker

What is Marketed?
Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas

Successful New Product Launches Require Careful Planning

Marketing Can Promote Ideas

Figure 1.1 Structure of Flows in a Modern Exchange Economy

Figure 1.2 A Simple Marketing System

Demand States
Negative Nonexistent Latent

Declining

Irregular

Full

Overfull

Unwholesome

Key Customer Markets

Consumer Markets Global Markets

Business Markets

Nonprofit/ Government Markets

www.marutitruevalue.com

Functions of CMOs
Strengthening the brands Measuring marketing effectiveness Driving new product development based on customer needs Gathering meaningful customer insights Utilizing new marketing technology

Figure 1.3 Improving CMO Success

Make the mission and responsibilities clear Fit the role to the marketing culture and structure Ensure the CMO is compatible with the CEO Remember that show people dont succeed Match the personality with the CMO type Make line managers marketing heroes Infiltrate the line organization Require right-brain and left-brain skills

Core Marketing Concepts

Needs, wants, and demands Target markets, positioning, segmentation Offerings and brands Value and satisfaction Marketing channels Supply chain Competition Marketing environment

Positioning

Press ads of the Scorpio focused on the functional features of the vehicle and the television ads focused on emotional benefits.

The marketplace isnt what it used to be

Information technology Globalization Deregulation Privatization Competition Convergence Consumer resistance Retail transformation

New Consumer Capabilities

A substantial increase in buying power A greater variety of available goods and services A great amount of information about practically anything Greater ease in interacting and placing and receiving orders An ability to compare notes on products and services An amplified voice to influence public opinion

Company Orientations

Production

Product

Selling

Marketing

Figure 1.4 Holistic Marketing Dimensions

RBC emphasizes a relationship marketing approach

Figure 1.5 The Four Ps

Internal Marketing
Internal marketing is the task of hiring, training, and motivating able employees who want to serve customers well.

Performance Marketing
Financial Accountability Social Responsibility Marketing Social Initiatives Corporate social marketing Cause marketing Cause-related marketing Corporate philanthropy Corporate community involvement Socially responsible business practices

Marketing Management Tasks

Develop market strategies and plans Capture marketing insights Connect with customers Build strong brands Shape market offerings Deliver value Communicate value Create long-term growth

Marketing Debate: Take a Position!

Does marketing shape consumer needs? or Does marketing merely reflect the needs and wants of consumers?

Marketing Discussion
Consider the societal forces noted in the chapter (e.g., information technology, globalization, deregulation, consumer resistance, retail transformation). How have marketing practices shifted to accommodate and even leverage these forces?