Fundamental of Marketing

Meaning of marketing. Core concepts of marketing. Marketing process. Marketing managementorientation - production, product, selling, marketing, and societal marketing concepts. Meaningand components of the marketing mix for products and services.

Meaning of marketing environment; Micro environment: The company, suppliers, competitors, marketing intermediaries, publics, customers. Macro environment: demographic, economic, natural, technological, political, social, cultural environment; Responding to the marketing environment: Reactive and proactive marketing. Marketing environment in Nepal.

Concept of marketing information system. Components of the marketing information system.Marketing research process and areas of marketing research

Meaning of buying behavior, model of consumer behavior, consumer buying process, factorsinfluencing consumer behavior. Business buyer behavior: major types of buying situation, businessbuyer decision process, factors influencing business buyer behavior.

Concept, process, requirements of market segmentation. Bases for segmenting consumer andorganizational markets. Segment evaluation, and selection. Concept and types of positioning; product positioning process.

Concept and levels of the product. Product classifications and marketing considerations. Productlife cycle stages: features and strategies. New product development process. Branding strategies –branding objectives, types of brand, and concept of brand equity. Packaging: functions and levelsof packaging; essentials of a good package. Product line and mix strategies. Service productstrategies

Concept of price and pricing. Factors affecting pricing decisions: Internal and external price factors.Pricing approaches-cost-based, value-based and competition- based approaches. New productpricing decisions. Initiating and responding to price changes. Pricing practices in Nepal.

Concept and objectives of distribution, channel designs for consumer and industrial products. Channel selection factors. Concept and components of marketing logistics: transportation, warehousing, inventory management, order processing, and customer services decisions. Distribution practices in Nepal.

Concept and objectives of promotion. Promotion mix components. Factors affecting determinationof promotion mix. Advertising: Nature and objectives. Nature and process of personal selling.Nature and objectives of sales promotions. Sales promotion tools and techniques. Nature, and toolsof public relations. Concept , and methods of direct marketing. Promotion practices in Nepal.