Principles of Marketing

Unit 02: The Marketing Environment

Introduction / Definition

• Marketing environment includes all internal and external forces affecting marketing decisions.
• Internal forces: Employees, customers, suppliers, distributors.
• External forces: Political, economic, social, technological, legal, cultural factors.
• Internal factors are controllable.
• External factors are uncontrollable.

2.2 Types of Marketing Environment

• Micro Environment: Close to the company.
• Macro Environment: External uncontrollable forces.

Micro Environment

Components

• Company: Coordination among departments.
• Suppliers: Provide raw materials and ensure reliability.
• Marketing Intermediaries: Agents, transporters, warehouses.
• Competitors: Rivals in the market.
• Publics: Media, government, local community, financial groups.
• Customers: Consumer, business, government, reseller, international buyers.

Macro Environment

Meaning

• Larger uncontrollable forces.
• Dynamic in nature and must be monitored continuously.

Elements of Macro Environment

Demographic

• Population size
• Age distribution
• Income level
• Education

Economic

• Income level
• Inflation
• Interest rates
• GDP
• Unemployment

Technological

• Innovation affects product demand.
• New technology changes consumer behavior.

Natural

• Natural resources
• Pollution
• Sustainability laws

Political

• Government policies
• Tax structure
• Political stability

Cultural

• Beliefs
• Language
• Customs
• Religion

---

Customer

• Buyer of goods or services.
• Main revenue source for firms.
• Customer ≠ Consumer
• Customer buys the product.
• Consumer uses the product.

Customer Value

Customers look for:

• Personal fit
• Status / esteem
• Utility
• Social needs
• Price
• Quality

Value in Purchase

• Convenience
• Ease of payment
• Delivery speed
• Sales interaction

Value in Consumption

• Experience
• Performance
• Satisfaction

Strategies to Increase Customer Value

• Improve buying experience.
• Strong branding.
• Customer feedback system.
• Differentiation strategy.
• High-quality service.
• Fair pricing.

Customer Value & Loyalty

• Higher value leads to higher loyalty.
• Loyal customers boost revenue and growth.

Customer Types

• Prospect: Potential buyer.
• First-time Buyer: Trial stage.
• Repeat Buyer: Satisfied but not loyal.
• Core Buyer: Loyal and profitable.
• Defector: Customer who left the company.

Customer Lifecycle Stages

1. Awareness
2. Consideration
3. Purchase
4. Retention
5. Advocacy

Customer Acquisition

• Gaining new customers.
• Converting prospects into buyers.
• Reducing acquisition cost.

Purpose:

• Identify buyer types.
• Use CRM and marketing tools.
• Recover abandoned carts.

Acquisition Funnel

• Awareness
• Conversion
• Engagement

Blockage Points:

• Low leads
• Poor conversion
• Drop-offs
• Weak repeat purchase

Customer Retention

• Keeping customers loyal.
• Cheaper than acquisition.

Retention Strategies:

• Loyalty programs
• Relationship building
• Data mining
• Automation
• Personalized offers

Unit 03: Market Planning and Research

Introduction / Meaning

• Marketing planning involves analysing data, forecasting demand, selecting targets, and setting objectives and strategies.
• Explains why, what, and when marketing actions are performed.
• Helps acquire, grow, and retain customers.

3.1 Definition of Marketing Planning

• Organising marketing goals and strategies.
• Setting objectives and scheduling actions.

3.2 Relevance & Benefits

• Guides resource allocation.
• Improves coordination between departments.
• Encourages strategic thinking.
• Identifies risks and opportunities.
• Helps in performance review.
• Supports long-term success.

3.3 Marketing Planning Systems

• Strategic Planning: Long-term direction of the organisation.
• Marketing Strategy: Roadmap to achieve marketing goals.

3.4 Marketing Plan Components

• Target customers
• Positioning
• Promotion
• Distribution
• Financial planning
• SWOT analysis
• Clear objectives and controls

3.5 Structure of a Marketing Plan

Objectives

• Sales targets
• Market share
• Market penetration
• Customer acquisition

Market / Consumer Analysis

• Demographics and psychographics
• Market size and competitors

Target Market

Clearly defined group of customers to focus marketing efforts on.

SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

Marketing Strategy

• 7Ps (Product, Price, Place, Promotion, People, Process, Physical Evidence)
• Value proposition

Marketing Budget

• Expected costs
• Projected revenues

Performance Analysis

• Revenue variance
• Market share
• Expense control

Administration

• Regular review
• Plan updating

3.6 Marketing Planning Process

• Scan external environment.
• Internal analysis.
• Set SMART objectives.
• Formulate strategy.
• Develop functional plans.

3.7 Approaches to Marketing Planning

PIMS (Profit Impact of Marketing Strategy)

• Uses ROI and cash flow analysis.
• Identifies strengths and weaknesses.

Portfolio Methods

• BCG Matrix
• GE Matrix

Strategic Business Unit (SBU)

• Independent profit centre.
• Has own competitors.
• Separate planning system.
• Dedicated manager.

3.8 BCG Matrix

Developed by: Bruce Henderson (Boston Consulting Group)

• Stars: High growth, high market share.
• Cash Cows: Low growth, high market share.
• Question Marks: High growth, low market share.
• Dogs: Low growth, low market share.

Steps:

• Identify SBUs.
• Plot on matrix.
• Classify business units.
• Decide appropriate strategy.

3.9 GE Matrix

Developed by: General Electric & McKinsey & Company

Axes:

• Industry attractiveness.
• Competitive strength.

Strategies:

• Grow / Invest
• Hold / Protect
• Harvest / Divest

3.10 Marketing Research

• Collecting and analysing market information.
• Identifies problems and opportunities.
• Improves decision-making.

3.11 Marketing Research Process

1. Define problem
2. Literature review
3. Form hypothesis
4. Research design
5. Sampling
6. Data collection
7. Data analysis
8. Interpretation
9. Report writing

Sampling

• Probability sampling
• Non-probability sampling

Data Types

• Primary Data: Surveys, interviews.
• Secondary Data: Books, websites, journals.

3.12 Marketing Information System (MIS)

• Collects and analyses market data regularly.
• Supports managerial decision-making.

Components of MIS

• Internal records
• Customer and product databases
• Marketing intelligence
• Research agencies
• Government data
• Feedback system

Unit 04: Buying Behaviour

• Consumer buying behaviour refers to how individuals or organisations choose, buy, use, and dispose of products.
• Helps marketers understand why and how people purchase.
• Studying lifestyle changes, technology, and income levels is crucial.

As discussed by Philip Kotler & Kevin Lane Keller

4.1 Definition of Consumer Behaviour

• Buying behaviour of final users.
• Includes searching → purchasing → using → evaluating → disposing.
• Decision-making process to satisfy needs.

Defined by Leon G. Schiffman, Leslie Lazar Kanuk, James F. Engel, Roger D. Blackwell, Paul W. Miniard, Michael Solomon

4.2 Importance of Studying Consumer Behaviour

• Predicts buying behaviour.
• Helps in product launch decisions.
• Assists in designing marketing mix.
• Reduces chances of product failure.
• Tracks changing trends.
• Guides advertising and media planning.

4.3 Buyer and User

• Buyer is not always the User.
• Example: Parents buy shampoo → child uses it.

Buying Roles

• Initiator: Suggests buying.
• Influencer: Affects decision.
• Decider: Makes final choice.
• Buyer: Purchases product.
• User: Consumes the product.

4.4 Consumer vs Customer

• Consumer: Uses the product.
• Customer: Buys the product.
• Sometimes both are the same person.

4.5 Five Stages of Consumer Decision Process

1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Post-Purchase Review

4.6 Market Strategy & Applications

• Helps build strong marketing strategies.
• Prevents product failures.
• Guides regulation and social marketing.
• Educates customers.

Case Study: LEGO

• Research helped launch the “Friends” range.
• Targeted young girls.
• Resulted in higher sales.

4.7 Types of Consumer

• Personal Consumer: Buys for household use.
• Organisational Consumer: Firms or government buyers.

Case Study: Walmart

• Low cost + high volume strategy.
• Strong supply chain management.

Buying Centre (Decision Making Unit - DMU Roles)

• Actual User
• Influencer
• Decider
• Buyer
• Gatekeeper

Organisational Buying Process

1. Need recognition
2. Product specifications
3. Vendor criteria
4. Invite bids
5. Evaluate proposals
6. Select supplier
7. Order placement
8. Review and feedback

4.8 Buying Situations

• Straight Rebuy: Repeat order without changes.
• Modified Rebuy: Order with changed specifications.
• New Task: First-time purchase.

4.9 Value Maximization in Organisational Buying

Hierarchy of Values

• Unanticipated Value: Hidden needs discovered later.
• Desired Value: Extra benefits beyond expectations.
• Anticipated Value: Expected basic value.

Unit 05: Segmentation and Targeting

Meaning of Market Segmentation

• Market ko similar customers ke groups me divide karna = Segmentation.
• Purpose → Right customer ko right message & product dena.

Stages of Segmentation

• Whole market identify karo.
• Segmentation variables choose karo.
• Segments form karo.
• Attractive segment select karo.
• Marketing strategy design karo.

Bases of Segmentation

Demographic

• Age, gender, income, family size, religion.
• Example → Airlines: economy class / business class.

Psychographic (VALS Model)

• Lifestyle & values based segmentation.
• Types → Achievers, Experiencers, Makers, Survivors etc.

Behavioral

• Usage rate, loyalty, benefits sought.
• Example → Hotels: corporate / group / tourist customers.

Targeting (STP Model)

• STP = Segmentation → Targeting → Positioning.
• Targeting = Best segment select karna.

Steps in Targeting

• Customer base identify karo.
• Competitors analyze karo.
• Demographics & psychographics study karo.
• Final decision making karo.

Criteria for Effective Targeting

• Niche define karo.
• Existing customers study karo.
• Competitors explore karo.
• Customer benefits samjho.

Positioning

• Consumer ke mind me product ki place banana.
• Competitive advantage highlight karna.

Types of Positioning

• Functional: Problem solving focus.
• Symbolic: Status & image focus.
• Experiential: Feelings & experience focus.

POP vs POD

• POP (Points of Parity): Competitors jaisa basic feature.
• POD (Points of Difference): Unique competitive advantage.

Re-Positioning

• Brand image change karna.
• Reasons → Low sales, PLC decline, new competitor entry.
• Example → Domino’s brand revamp strategy.

Unit 06: Product Management

Meaning of Product

• Product = Anything offered to satisfy a need or want.
• Includes goods, services and ideas.

Levels of a Product

• Core Product: Main benefit received by customer.
• Actual Product: Design, brand, quality, features.
• Augmented Product: Warranty, service, support.

Product Line

• Related products under one brand.
• Example → Coca-Cola offers multiple beverage brands.

Product Line Decisions

• Line Filling: Add new item in existing line.
• Line Pruning: Remove weak or unprofitable item.

Product Mix

• Total products offered by a firm.
• Includes:
• Width: Number of product lines.
• Length: Total items in all lines.
• Depth: Variations of each product.
• Consistency: Relationship among product lines.

Product Life Cycle (PLC)

Stages of PLC

• Introduction: High cost, low sales.
• Growth: Rising sales and increasing competition.
• Maturity: Market saturation.
• Decline: Falling sales.

Marketing Strategies at PLC Stages

Introduction Stage

• Rapid Skimming Strategy
• Slow Penetration Strategy

Growth Stage

• Market Penetration
• Market Development
• Product Development
• Diversification

Maturity Stage

• Improve product features.
• Enter new market segments.
• Win competitors’ customers.

New Product Development (NPD)

Steps in NPD

1. Idea Generation
2. Idea Screening
3. Concept Development
4. Business Analysis
5. Product Development
6. Test Marketing
7. Commercialisation

GE Model (Product Portfolio)

• Based on two dimensions:
• Industry Attractiveness
• Competitive Strength

GE Model Strategies

• Grow / Invest
• Hold / Protect
• Harvest / Divest

Unit 07: Brand Management

Meaning of Brand

• A name, symbol, sign, or design that identifies a product.
• Creates image, trust, and recognition in customers’ minds.

Importance of Branding

• Product differentiation.
• Builds customer loyalty.
• Allows premium pricing.
• Creates competitive advantage.
• Easy recall in customer’s mind.

Brand Equity

Value of a brand based on customer perception.

Main Elements of Brand Equity

• Brand awareness.
• Brand associations.
• Perceived quality.
• Brand loyalty.

Types of Brands

• Manufacturer Brand: Owned by producer.
• Private / Store Brand: Owned by retailer.
• Generic Brand: No strong branding, low price.
• Individual Brand: Separate brand for each product.
• Family Brand: Same brand name for multiple products.

Brand Extension

Using an existing brand name for new products.

Types of Brand Extension

• Line Extension: New variant in same product category.
• Category Extension: Brand enters new product class.

Brand Positioning

• Creating a unique place in the consumer’s mind.
• Can be based on quality, price, usage, benefits, or user type.

Brand Personality

• Human traits associated with a brand.
• Examples: sincere, exciting, reliable, sophisticated.

Brand Life Cycle

• Introduction
• Growth
• Maturity
• Decline / Revitalisation

Brand Communication

• Advertising
• Sales promotion
• Digital marketing
• Public relations
• Influencer marketing

Brand Loyalty

• Repeat buying behaviour.
• Emotional attachment with brand.
• Resistance to competitors.

Unit 08: Pricing Decisions

Meaning of Price

• Price is the amount paid for a product or service.
• It is the only marketing-mix element that generates revenue.
• Directly affects demand, profit, and brand image.

Objectives of Pricing

• Survival in competitive market.
• Profit maximization.
• Market share growth.
• Quality leadership.
• Customer value creation.

Factors Affecting Pricing

Internal Factors

• Cost of production.
• Company objectives.
• Marketing mix strategy.
• Product life-cycle stage.

External Factors

• Demand and price elasticity.
• Competition.
• Government regulations.
• Economic conditions.
• Customer perception.

Cost-Based Pricing

• Add margin on total cost.

Types

• Markup Pricing: Fixed percentage added to cost.
• Cost-Plus Pricing: Cost + desired profit margin.

Demand-Based Pricing

• Based on customer willingness to pay.
• Higher demand allows higher pricing.
• Common in premium brands.

Competition-Based Pricing

• Price set relative to competitors.
• May be equal, higher, or lower than rivals.

Pricing Strategies

New Product Pricing

• Skimming Pricing: High initial price, gradually reduced.
• Penetration Pricing: Low price to gain market share quickly.

Product Mix Pricing

• Product-line pricing.
• Optional product pricing.
• By-product pricing.
• Bundle pricing.

Discount & Allowance Pricing

• Cash discount.
• Quantity discount.
• Seasonal discount.
• Trade allowance.

Psychological Pricing

• ₹999 instead of ₹1000 (odd pricing).
• Premium pricing to show quality.

Promotional Pricing

• Temporary price cuts.
• Festive offers.
• EMI schemes.

Price Adjustment Strategies

• Geographic pricing.
• Segmented pricing.
• Dynamic pricing.
• International pricing.

Legal & Ethical Issues in Pricing

• Price Fixing: Illegal coordination between competitors.
• Predatory Pricing: Selling below cost to eliminate competition.
• Price discrimination rules.
• Consumer protection laws.

Unit 09: Distribution / Place Decisions

Meaning of Distribution

• Distribution means making products available to customers.
• Includes movement, storage, and delivery of goods.
• Goal → Right product, right place, right time.

Objectives of Distribution

• Wide market coverage.
• Fast delivery.
• Lower logistics cost.
• Customer convenience.
• Competitive advantage.

Functions of Distribution Channels

• Physical movement (Transportation).
• Warehousing and storage.
• Financing.
• Risk bearing.
• Promotion support.
• Order processing.

Types of Distribution Channels

Direct Channel

• Producer → Consumer.
• Example: Factory outlet, online brand store.

Indirect Channel

• Producer → Wholesaler → Retailer → Consumer.

Middlemen / Intermediaries

• Wholesalers: Bulk buying and selling.
• Retailers: Sell to final consumers.
• Agents / Brokers: Work on commission basis.

Types of Distribution Intensity

• Intensive Distribution: Available everywhere (e.g., FMCG products).
• Selective Distribution: Limited outlets.
• Exclusive Distribution: Single dealer in a specific area.

Factors Affecting Channel Choice

• Nature of product.
• Market size and location.
• Company resources.
• Consumer buying habits.
• Competition level.
• Legal environment.

Physical Distribution / Logistics

Includes:

• Transportation.
• Warehousing.
• Inventory control.
• Packaging.
• Order processing.

Channel Management Decisions

• Selecting intermediaries.
• Training and motivating channel partners.
• Evaluating performance.
• Resolving conflicts.

Channel Conflict

Occurs when:

• Members compete with each other.
• Goals differ.
• Pricing disputes arise.

Types of Channel Conflict

• Horizontal Conflict.
• Vertical Conflict.
• Multi-channel Conflict.

Modern Distribution Trends

• E-commerce.
• Omnichannel retailing.
• Quick commerce.
• Drop-shipping model.

Unit 10: Promotion & Marketing Communication

Meaning of Promotion

• Promotion means communicating product value to customers.
• Objective → Inform, persuade and remind customers.
• It is part of marketing mix along with product, price and place.

Objectives of Promotion

• Create awareness.
• Generate interest.
• Stimulate demand.
• Build brand image.
• Encourage repeat purchase.

Promotion Mix (Tools)

Advertising

• Paid, non-personal communication.
• Media: TV, radio, newspapers, digital ads.

Sales Promotion

• Short-term incentives.
• Examples: Discounts, coupons, contests, free samples.

Personal Selling

• Face-to-face selling.
• Used in industrial and high-value goods.

Public Relations (PR)

• Builds goodwill and reputation.
• Press releases, events, CSR activities.

Direct & Digital Marketing

• Email, SMS, websites, social media.
• Personalized communication.

Communication Process

• Sender → Message → Medium → Receiver.
• Feedback checks effectiveness.
• Noise may distort the message.

Steps in Promotion Strategy

• Identify target audience.
• Set objectives.
• Design message.
• Select media.
• Fix budget.
• Evaluate results.

Promotion Budget Methods

• Percentage of Sales Method
• Objective & Task Method
• Affordable Method
• Competitive Parity Method

Push vs Pull Strategy

Push Strategy

• Focus on intermediaries.
• Trade discounts and dealer incentives.

Pull Strategy

• Focus on final consumers.
• Heavy advertising and promotional offers.

Integrated Marketing Communication (IMC)

• All promotion tools deliver consistent message.
• Advertising + PR + Digital + Personal selling aligned.

Ethical & Legal Issues in Promotion

• No misleading advertisements.
• Truthful claims only.
• Follow consumer protection laws.
• Ensure fair competition.

Unit 11: Services Marketing

Meaning of Services

• Service is an intangible activity offered for sale.
• It does not result in ownership.
• Examples → Banking, education, transport, healthcare.

Characteristics of Services

• Intangibility: Cannot be seen or touched before purchase.
• Inseparability: Produced and consumed together.
• Variability: Quality differs by provider or time.
• Perishability: Cannot be stored for future use.

Importance of Services Marketing

• Growing sector in the economy.
• Creates employment opportunities.
• Supports goods marketing.
• Improves customer satisfaction.

Service Marketing Mix – 7Ps

Besides Product, Price, Place and Promotion:

• People: Employees and customers involved in service delivery.
• Process: Steps involved in service delivery.
• Physical Evidence: Ambience, bills, uniforms, service environment.

Role of Employees

• Direct contact with customers.
• Affects satisfaction and loyalty.
• Proper training is critical.

Service Delivery Process

1. Customer entry.
2. Interaction with service provider.
3. Service execution.
4. Exit and feedback.

Service Quality

Measured by the gap between:

• Customer expectations.
• Actual service delivered.

Customer Satisfaction

• Comes from good service experience.
• Leads to repeat purchase.
• Builds loyalty and goodwill.

Relationship Marketing

• Focus on long-term customer relationships.
• Retention is more valuable than acquisition.
• Uses CRM systems.

Service Recovery

• Handling customer complaints effectively.
• Apology + practical solution.
• Compensation when necessary.
• Quick response improves trust.

Unit 12: Creating Sustainable Competitive Value and Growth

Core Idea

This unit focuses on how companies build long-term competitive advantage by creating superior customer value, acquiring and retaining customers, and designing growth-oriented marketing strategies.

Market Expansion

• Entering new segments with existing products.
• Targeting non-buyers in current segments.
• Reaching new geographic or demographic markets.

Customer Acquisition

Process of gaining new customers or converting prospects.

Key Tools

• Segmentation
• Customization
• Customer value creation
• Data mining

Customer Value

• What customer receives vs. what they sacrifice.
• Higher value → Satisfaction → Loyalty.
• Improves acquisition and retention.

Data Mining

• Turning raw data into meaningful insights.
• Helps in understanding customers.
• Designing targeted offers.
• Reducing cost.
• Increasing sales.

Customer Retention

Turning existing customers into repeat buyers.

Retention Strategies

• Build trust and long-term relationships.
• Loyalty programs.
• Use customer data effectively.
• Marketing automation.
• Measure customer lifetime value (CLV).
• Personalised promotions.

Customer Loyalty

• Long-term relationship with the brand.
• Based on trust and satisfaction.
• Leads to repeat purchase and brand advocacy.

Example

Starbucks loyalty program with “Stars” and mobile app rewards system.

Developing Competitive Strategies

• Analyse competitors’ strengths and weaknesses.
• Create sustainable competitive advantage.
• Position the firm better than rivals.

Marketing Mix for Value Creation (7Ps)

• Product: Benefits and features.
• Price: Value-based pricing.
• Place: Effective distribution.
• Promotion: Communication strategy.
• People: Staff and customers.
• Process: Service delivery flow.
• Physical Evidence: Environment and visuals.

Unit 13: Broadening Horizons

Focus of Unit 13

Unit 13 covers Services Marketing, Rural Marketing, and Retailing concepts, including service characteristics, service marketing mix, and retail strategies.

Services Marketing – Basics

What is a Service?

• Intangible activity offered to customers.
• Produced and consumed together (Inseparability).
• Cannot be stored (Perishability).

Characteristics of Services

• Intangibility: Cannot be touched or seen before purchase.
• Variability / Heterogeneity: Service differs every time.
• Perishability: Cannot be stored for future use.
• Inseparability: Production and consumption happen together.

Types of Services

• Core Service: Main service offered (e.g., doctor treatment).
• Supplementary Service: Additional benefit (e.g., home delivery with food).

Goods vs Services

• Goods: Tangible, storable, standardized.
• Services: Intangible, perishable, variable.

7Ps of Services Marketing

• Product – Intangible offering.
• Price.
• Place.
• Promotion.
• People.
• Process.
• Physical Evidence.

Rural Marketing – Key Idea

Deals with marketing goods and services in rural areas.

Importance of Rural Marketing

• Large population base.
• Rising income levels.
• Government schemes.
• Infrastructure growth.

Retailing – Basics

• Selling goods or services to final consumers.
• Involves store location, layout, and assortment planning.

Wheel of Retailing Theory

• New retailers enter with low price and low service.
• Gradually upgrade services and increase prices.
• Become vulnerable to new low-price entrants.

Unit 14: Contemporary Issues in Marketing

Focus of Unit 14

This unit discusses modern marketing challenges and trends such as changing consumer behaviour, technology-driven marketing, relationship and value-based marketing, innovation, and competitive strategies.

Changing Market Environment

• Indian market is rapidly evolving.
• Growth of urbanisation and digital usage.
• Rising smartphones, internet and e-commerce penetration.
• Global and local brands competing together.

Need for Continuous Innovation

• Customers constantly seek new products.
• Firms must innovate or risk losing to competitors.
• Examples: Smart devices and AI-based assistants.

Relationship Marketing Orientation

• Focus on customer retention and lifetime value.
• Builds long-term relationships rather than only new sales.

Tools of Relationship Marketing

• Loyalty programs.
• Personalised messages.
• Feedback systems.
• Omnichannel communication.

Internal Marketing (Employees as Customers)

• Employees are considered internal customers.
• Firms should train staff.
• Set service standards.
• Improve internal processes.
• Monitor performance regularly.

Inverted Organisational Pyramid

• Employees directly support customers.
• Leaders serve and support employees.
• Improves service quality and retention.

Market-Driven Organisations

• Strategy based on customer needs and market trends.
• Goal → Deliver maximum customer value.
• Examples include global tech and logistics firms.

Customer Acquisition & Retention

• Acquisition: Gaining new customers.
• Retention: Keeping existing customers.

Retention Strategies

• Loyalty programs.
• Data mining.
• Personalised offers.
• Automation tools.

Customer Loyalty

• Repeat buying behaviour.
• Built on trust and satisfaction.
• Reward programs strengthen loyalty.

Developing Competitive Strategies

• Analyse competitors.
• Identify strengths and weaknesses.
• Create sustainable competitive advantage.

Marketing Mix in Modern Context (7Ps)

• Product.
• Price.
• Place.
• Promotion.
• People.
• Process.
• Physical Evidence.

Stages of Marketing Practices

• Entrepreneurial Marketing: Startup-focused approach.
• Expeditionary Marketing: Entering new markets.
• Intrapreneurial Marketing: Innovation within the firm.