Marketing Management II
Module 1:
You will discover what the term distribution means and how important it is to organisations
in this lesson. We will examine the various channel strategies and channel decisions which
marketers have to take on the basis of their product or service. Various producers utilise
various techniques to bring their goods to the end customer. In this session, we start by
studying the various channels used to provide end users with their products. This gives us a
good knowledge of distribution channels and why they are used by corporations. The varied
roles of distribution channels are also being considered. We will then examine push-to-pull
strategic decisions made by marketers to monitor how their items move through the
channel and how these methods perform. In this session, we will also examine another
marketing decision, the length of the channel which firms must decide. Before that I am
going to present you to a channel-level notion which is important for channel length
determination. We will also look at the selections on channel width in addition to channel
length. The product or service categorization is determined which is appropriate for various
sorts of channel width. In the present module, the merits and limitations of vertical
marketing channels are also compared to traditional distribution channels. Finally, we will
examine change in the organisation of channels and learn about new trends in channel
strategies that firms employ.
Module 2:
Pricing is an essential part of the four Ps. While all other firms focus on value creation,
pricing helps companies extract the value that has been generated. You will learn about
marketing prices and the many factors and procedures involved in the pricing process in this
lesson. Not only is the price charged a figure or an amount of money. It has a wider
connotation and a great deal of strategy is used for determining the price of a product or
service to clients. Let us start with some instances and evaluate their value to us and then
compare it to their real pricing. This activity helps us to define more widely the idea of
prices. We will also examine the different pricing features and the main aspects during
pricing, such as price flooring and price limit. What is more, we are learning the relevance of
customer value perception and how it influences product prices The different internal and
external variables impacting price decisions will also be examined. One of these external
influences, namely markets, we shall dive into deeper. We will begin to identify the many
sorts of marketplaces and study how prices in these various markets are formed. We will
also explore in this subject the effect of consumer psychology on price. We will examine
many psychological aspects, including benchmarks, price quality inferences and pricing
indicators, in which the customer decision will be affected. In this session, we will also
describe the many phases in the pricing process.
Module 3:
A strong brand may distinguish firms in their target market from their competition.
Marketers must make sure their message to customers is clear and consistent in order to
establish a successful brand. In this session, we will discover how IMC helps organisations to
attain this aim. We study Integrated Marketing Communications in this module (IMC). The
'Promotion' aspect in the 4P process mentioned above is covered in integrated marketing
communication. It includes the integrated use of several marketing communication
technologies to connect with customers in order to create or promote a brand. We will
begin by examining the fundamental communications model and the factors involved in the
communication process. We will examine the notion of encoding messages and how noise
may influence the process of communication. To determine the message delivered by these
businesses we will look at some examples of marketing communications. We also define
marketing communications in this module. Some communication vehicles will next be
examined. We will also analyse the changing environment of communications, particularly
the emergence of specialised communication channels, and identify the necessity for
integrated marketing communications to communicate consistently and clearly. We will
then analyse the 6M model to build a communication plan. We will also learn how to
employ IMC components to create brands in this lesson. Online advertising in today's
marketplaces is important to us. We look at the advantages and disadvantages of internet
advertising.
Module 4:
We will explore the meaning and variables influencing consumer behaviour in this session.
The many elements affecting the perception of a product by consumers and those that
effect the adoption of a new product will be investigated. We will also understand the many
elements which impact the purchasing behaviour of consumers. A basic description of
consumer behaviour is included to start the lesson. The social, cultural and personal
variables that impact the perception of the customer of a product are varied – both good
and negative. In the customer impression of a product we explain how reference groups
have a significant influence. Consumer requirements are established on the basis of several
variables and prioritised. The hierarchy of necessities of Maslow is defined and discussed,
and the many limits of this framework are outlined. We then discuss different descriptive
theories and how they explain the behaviour of consumers. The asymmetric dominance
effect (decoy effect) and the framework effect contain these effects. These effects are based
on the idea of prospects, a behavioural economic theory that outlines how individuals select
from the prospective worth of loss and gains rather than the end results. The framework
effect is a cognitive distortion in which consumers behave differently depending on whether
the circumstance is good or negative. Finally, the module discusses why new product
problems have arisen. This encompasses related ideas such as the stages of the new
product's adoption, its impact on the endowment effect and its impact on the adoption
process.
