Marketing Management ( Credit 3 )
Course Objectives
This course aims to equip you with necessary skills and capabilities to analyze market situations, formulate marketing management strategies, action programs, and implement them more effectively.
Course Details
Unit I: Introduction
Business strategy and sustainable competitive advantage; strategic business unit; strategic market management development, characteristics, trends, and needs; components of strategic marketing management; and process of strategic marketing management.
Unit II: Strategic Analysis
External analysis: Consumer analysis, competitor analysis, market analysis, and environmental analysis.
Internal analysis: shareholder value analysis, sales and profitability analysis, strategic options, and business portfolio analysis. Tools of analysis: SWOT analysis, Five Forces analysis, and PEST analysis. Development of strategic alternatives.
Unit III: Developing Marketing Strategies
Strategy for sustainable competitive advantage (SCA): synergy, strategic vision, strategic opportunism, and dynamic vision. Differentiation strategies: quality options, building strong brands, low cost strategies, focus strategies and preemptive move. Growth strategic: penetration, product development, market development and vertical integration. Diversification strategies: related and unrelated diversification, entry strategies, strategies in declining and hostile markets. Global marketing strategies: motivations for going global, standardization vs. customization, strategic alliances. Implementing the marketing strategies: product/service, pricing, distribution, and promotion decisions, implementing strategy.
Unit IV: Development of Marketing Planning and Control System
Meaning and importance of marketing plan; components of marketing plan; executing and implementation and control mechanism.
References
Kotler, P. (2003). Marketing Management. (11th ed.) PHl. New Delhi.
Aker, D.A. (1998). Strategic Market Management. (5th ed.). JOHN WILEY & SONS INC: Singapore.
Carvens, D.W. Strategic Marketing. Irwin Inc. New Delhi.