BOOK REVIEW
MARKETING MANAGEMENT
Prof. Dr RAJAN SAXENA
[ISBN NO:0-07-463362-7]
Submitted To
University Of Calicut
SCHOOL OF DISTENCE EDUCATION
In partial fulfilment of requirement for the award of the post graduation Degree of
Masters of Commerce
Submitted
by
AISWARYA T U
Reg No : THAUDCM023
Enrollment No : 2088022
2020-2022
ABOUT THE AUTHOR
Marketing Management is the book written by Rajan saxena . Rajan
Saxena is an Indian management expert ,academic and writer. He is a former vice
Chancellor of the SVKM’s NMIMS, a deemed university in Mumbai , former director
of Indian institute of management Indore, S.P Jain Institue of management and ICFAI
business school ,Gurgon . He also held the position of Thums Up Chair in marketing Dean
(Academic and management Development ) when he was at Nasree Monjee Institute of
Management studies (NMIMS) Mumbai between 1984 and 1999 . Saxena did his college
of commerce of Delhi University and secured a doctoral degree (phD) from the Delhi
school of economics to start his career as a member of facility at XLRI-Xavier school of
management . He has served as the senior vice president of education promotion society of
India . Saxena is an elected fellow and life member of the Indian for training and
development Institute of Management Consultants of India (IMCI) .
Rajan Saxena , he has also worked as management
consultant to several firms including Reliance Energy , Larsen and Toubro ,Parle Eport ,
Jintal Steels , among others . Besides publishing 60 Articles in national and international
journals ,he has authored “Marketing Management’’ ,which is a prescribed text on the
subject in many Indian universities. He is a recipient of many honours such as Dr .Suresh
Ghai Memorial Award (2013) , DNA hall of fame Award and ET Now vistionary
Leadership award (2013). And he received the BERG Education Award in 2014. Dr.
Saxena also contributed to making NMIMS degree more contemporary and industry
relevant . During his previous tenure as VC , he was instrumental in transforming
students’ experience by focusing on the holistic development of graduates through both
Class Room and Non-Class Room processes including field projects & soft skills, etc. He
focused on enhancing the quality of programs and their delivery . Faculty development
assumed high significance in his leadership. Making the admission process transparent by
introducing computer-based tests, which were psychometrically validated, helped change
the quality and profile of the incoming student batches across all schools and programs
especially at the School of Business
Management. Dr. Saxena ensured significant improvement in the competitive
position of each school of NMIMS. On his re-appointment, Dr. Saxena shared his vision
for the next tenure and said, “Completing the unfinished agenda of last Strategic Plan
would be top on my priority list. It includes Research Output
Enhancement, Internationalization of students & faculty community and getting
Global Accreditations.”. He also shared his plans to introduce new schools for
Entrepreneurship, Public Policy & Social Change, Media & Mass Communication,
Liberal Arts and Leadership & Faculty Development.
INDTRODUCTION OF BOOK
This is the book on marketing contemporary and the
future India . To many it may appear just another book and perhaps may even wonder at
need for get another text . This book provide the context for modern marketing concepts
practices in decision making in Indian firms . It deals with changing profile of Indian
buyers and helps understanding the perception and motivation of buyers as also the factors
that influence the decision making . This book is helps to understand the evolution of
marketing organisation on Indian firms and the issue that confront the management in
designing a customer focused organisation and tactics, and policies useful in the Indian
markets . It include separate chapters on global marketing customer service and rural
marketing .
This book helps to understand the concepts of marketing in the new
millennium and appreciate the evolution of the contemporary marketing process . It also
discuss difference between the type of orientations prevalent in organizations and it helps
to know about the dynamics of market leaders . Customer value and loyalty is the main
content in the market , Because customers are the king in the market . It give a clear
picture about the strategies for customer loyalty creation . In this book Marketing
Management discuss marketing environmental forces ,competition in market , marketing
planning , marketing research and information systems, consumer behaviour ,segmenting
and targeting of the market ,market measurement ,product management and new product
development etc. Marketing is also a managerial functions it involves analysis, planning
and control of marketing activities in an organisation . The role of marketing is also
perceived by non-profit organisations like the government , police , armed forces and
educational institutions . The essence of marketing is a transaction an exchange . It is
costumer and competition oriented and focuses on customer satisfaction .The success of
marketing strategy to a large extent is linked to marketing organisation.
CONTENT OF THE BOOK
This book is divided in to five sections:
Section 1 : Sections 1 focuses on marketing ,structure and forces there in and what a
marketer needs to do in order to understand them . This section contains 8 chapters .
Chapter 1: Chapter 1 introduces the concepts of marketing and differentiate it from
selling, manufacturing and technology orientation . It also introduce the reader to other
key concepts like marketing mix and explain how marketing orientation helps a firm
succeed .
Chapter 2 : Here it devoted to understand the marketing environment of the firm and
provides tools and techniques for it. In this chapter we can understand the behaviour of
key environmental forces that have an implication on marketing decision and understand
and get grasp of techniques available for environmental scanning.
Chapter 3: Chapter 3 is mainly focus on marketing planning and address issue in
marketing opportunities. It helps to understand how to identify market opportunity and
also understand how to evolve a marketing plan in an organisation.
Chapter 4: is on marketing research and information system and helps the reader
understand the marketing research and how to design an effective marketing research and
intelligence system. Marketing is the key to evolution of marketing strategies ,but the
researcher has to consider the problem in its totality and the emerging trends in the
marketer’s environment .marketing has to be linked with the business strategy . All
marketing research ,marketing intelligence and marketing information systems are critical
for a firms survival in a highly competitive environment .
Chapter 5: It deals with the changing profile of the Indian buyer as also the influence that
works on their decision making. Buyers behaviour differs across product groups and
hence it is necessary to know that consumer product can be categorised into high
involvement and low involvement product depending upon the time spent by the buyer in
considering the alternatives . Thus the time factor depends on whether a product represent
to the consumer high cost risk situations and whether the product reflects the customers
life-style and personality.
Chapter 6: It take a look at the organizational buyers decision making Organisational
buyers decisions are very complex and rational and several individuals with diverse .
background and expectations .
Chapter 7 and chapter 8 are focused on marketing segmentation and demand forecasting.
Market measurement and estimation of current and future demand is important as a
number of marketing decision are based on it . It is important to understand key terms
used in demand estimation and also the different techniques or tools for estimation .
Section 2 : Section 2 deals with the marketing mix and it contains Indian market.
Chapter 9 is on product decision in the contemporary Indian Market . Product mix refers
to product line and product items carried by a firm at a given point of time .Product line
consists of products that are closely related to each other inn the sense that they satisfy a
particular class of needs , or are used together ,or are distributed through the same
channels ,or possess common physical or technical characteristics .
Chapter 10 is on new product decision .
Chapter 11 is denoted to a growing concern in marketing viz, brand loyalty and through
Indian examples illustrates key concept in brand equity. This chapter focused on one of
the critical inputs in marketing strategy . Faced with intensive competition and a growing
clan of informal customers , firms find that they need to focus on strategies and
programmes that will enhance customer loyalty . Hence it is necessary to understand the
dynamic of customer loyalty .
Chapter12 is on pricing decision and introduces the reader to pricing strategies and tactics
and policies useful in the Indian market.
Chapter 13,14,15 and 16 are devoted to promotion decision and the different element of
promotion mix.
Chapter 17 is on sales forces management in Indian context.
Chapter18 is on distribution management and addresses key issue in effective distribution
planning for Indian markets.
Section 3 : Deals with marketing strategy and organizational issues in design,
implementation and control. It contains 3chapter.
Chapter 19 is focused on marketing strategy and helps the reader to understand linkage
between marketing strategy and also the strategy formulation process.
Chapter 20 is in marketing organization. This chapter helps the reader to understand the
evolution of marketing organisation in Indian firm and also the issue that confront
management in designing customer focussed organization.
Chapter 21 is focused on marketing performance and control.
Section 4 : Here it mainly focuse on the contemporary issue in marketing, customer,
services and rural marketing.
Section 5 : Here is introduces the reader to case methodology and instrumentation in
marketing, it enables the reader to link theory to business realities. The section contains
eight cases drawn from consumer goods industrial products and services and instruments
like marketing effectiveness measurement , marketing audit and other instruments in
marketing planning and product management.
Marketing orientation is a philosophy , which has to
pervade the organization structure . Marketing orientation is also is involves an integrated
and futuristic approach to exploit marketing opportunities . Marketing is also a
managerial function involving analysis ,planning and control of marketing activities in an
organization .
PRESENT RELEVANCE OF MARKETING
Marketing is the activity set of institutions and processes for
creating delivering and exchanging offers that have values for customers , clients ,
partners and society at large . Marketing is one of the way to give information to
consumers. This way the consumers will have the basic idea of what is your product all
about . Marketing educates many people about a certain product .In order to appreciate
the role of marketing , it is important to examine this term closely and its impact on
organisational functioning . Marketing can be understood as a concepts , a process and as
a managerial function.
Marketing management is defined as the process of over seeing and planning new
product , development , advertising , promotion and sales . Marketing management
performs the task of converting the potential customers into actual customers . The
importance of marketing management is to helps to stand competent in highly thriving
market . This also helps to develop strategies to improve profits and reduce the cost of
product marketing management has become the major source of exchange and transfer of
goods . Marketing is important because it helps you to sell your products or services . The
bottom line of any business to make money and marketing is an essential channel to reach
that end goal .Experts explains that without marketing many business wouldn’t exist
because marketing is ultimately what drives sales .
Marketing management is especially important for smaller
businesses because it gives them a level footing to compete with larger players in the field
. thorough customer research , creating campaigns and marketing strategies and positive
branding can go a long way in providing a brand with an edge over its competition. There
are mainly three benefits of marketing that are given below .
• New and improved product . marketing generate competition ,which leads to better
product ,marketing satisfy customers evolution of products
• Lower prices . Marketing activities increase demand ,which could result in a lowe
price
• Economic utility . The functions of marketing add value to a product
HIGHLIGHTING OF PARTICULAR CHAPTER : THE
MARKETING EVIORNMENT
Chapter 2 The marketing environment should be highlighting here. A marketer has to
understand how various external environment forces impact organisations decisions the
responds of the marketer to changes in the market place depend on this understanding.
Successful marketer and the organizations are the one’s who anticipate plan and execute
strategies to meet these environment changes. We saw in this chapter how some of the
industry leaders toss their competitive advantage because they failed to perceive these
changes. Several techniques -from verbal and informal to the more systematic and written
are available to the market opportunities. Sensitivity of an organization to its external
environment is extremely important in an competitive market place analysis of the
externalenvironment consist of identification of opportunities and threats and training it to
an particular source.
Following are the important point of marketing environment.
Environment analysis and diagnosis involves understanding the five forces namely
socio economic competition, technology, government policies, suppliers Andrew grove
added the sixth forces to about five the complimentors which are firms worse product are
bought by the customers as complimentary to the main product.
Understand the socio economic forces is important they determine the demand for
the product or service at any given time. This involves an analysis of Structural
changes in population economic changes in the society
Structural changes in population refers to changes in the age composition, sex structure,
role of women in the society, occupation and literacy profile of the population as also the
geographic spread of people. Changes in population profiles here implies the following.
Demographic changes and geographical location.
Economic factors are Gross National Product (GNP), per capital income, balance of
payments position of the country. Inflationary and deflationary pressure in the economy.
Each the factors can be an opportunity or threat to a firm.
While analysis competition, afirm needs to understand its nature and intensity factors
the term, competition has to necessary include indirect competition or competition from
substitute as well.
The technological factors involves understanding technological changes effecting the
firms, product process and system and its capacity to respond faster to the customer.
It is necessary to understand that the relationship with supplier and the firm is
influenced by their position size respective industries.
Knowledge of environment factors is important as also the ability of the marketer to
forecast these changes.
Here it devoted to understand the marketing environment of the firm and provides tools
and techniques for it. In this chapter we can understand the behaviour of key
environmental forces that have an implication on marketing decision and understand and
get grasp of techniques available for environmental scanning . In this chapter we saw
how important it is for the marketer to monitor the environment forces and take necessary
steps to negate/take a advantage of them even before competition . This chapter is devoted
to study of the market environment . Section I of the chapter deals with the environment
forces and the changes there in and section II outlines the techniques used for
environmental forces that have an implication on marketing decisions . And also grasp
the techniques available for environmental scanning .
The marketing environment refers to all internal and external factors ,
Which directly or indirectly influence the organizations decisions related to marketing
activities . Internal factors are within the control of an organization ,where as external
environment factors do not fall with in its control . A marketer should understand how
various environmental forces impact organization’s
decision .A successful marketer and organization are the one who anticipate , plan and
execute strategies to meet these environmental change.
SUMMARY OF THE BOOK
This book provides the context of modern marketing concepts practices and decision
making in Indian firms. It deals with the change profile of the Indian buyers and helps to
understand the perception and the motivation of buyers as also the factors that influence
their decision making It helps to understand the evolution of making organization in
Indian firms and the issues at confront the management in designing customer focused
organization introduces the readers to primary strategy tactics and policies useful in the
indian market. This book include separate chapters on global making customer service and
rural marketing. It enable the reader to link theory to business realities with the help of
care studies. Marketing management is the organizational discipline which focuses on the
practical application of marketing orientation, techniques and methods inside enterprises
and organizations and on the management of a firm's marketing resources and activities.
This book helps to understand the concepts of marketing in the new millennium and
appreciate the evolution of the contemporary marketing process . It also discuss difference
between the type of orientations prevalent in organizations and it helps to know about the
dynamics of market leaders . Customer value and loyalty is the main content in the market
, Because customers are the king in the market . It give a clear picture about the strategies
for customer loyalty creation
Marketing in a destination management is a way to
created and maintained profitable customer, stakeholders satisfaction leading to profit is
the central goal of tourism planning and marketing . Marketing is not simply about
advertising and selling . Marketing is about identifying a need and fulfilling that need .
Effective marketing researches the intended population to figure out what they want and
need , once that is done the marketing department decided the action to them . As stated
in this paper ,the success of a product depends on effective marketing to not only promote
a great product or services but also to provide the customer with great services.
CONCLUSION
The book is not only comprehensive in the concept and the framework a good or better than
best selling foreign management text book. It also provides numerous examples care history
and relevance to Indian context indeed it make the reader produce of marketing initiative
practices and success of Indian companies both in domestic and more recently in the global
market. This book discuss the various marketing instruments used in india for planning and
product management. Marketing is the most exciting of all business sports .It is the
heartbeat of every successful business . It is continually changing in response to the
explosion of information, the expansion of technology, and the aggressiveness of
competition, at all levels and everywhere. the marketing concept is the philosophy where
each and every firms should analyze the needs of their customers and makes good decisions
in order to satisfy their needs. This also can enhance a good relationship between the
customers.
