Essay About Nairobi College Of Humanities And University Of Nairobi

Principles of Marketing
UNIVERSITY OF NAIROBI COLLEGE OF HUMANITIES AND SOCIAL SCIENCES SCHOOL OF BUSINESS In collaboration with CENTRE FOR OPEN AND DISTANCE LEARNING DMA 202: PRINCIPLES OF MARKETING AUTHOR MARY W. KINOTI REVIEWERMARGRET A. OMBOK Lecture series: DMA -Principles of Marketing Published by University of Nairobi, P. O. Box 30197, Nairobi, Kenya Printed by College of Education and External Studies, University of Nairobi, P. O. Box 30197, Nairobi, 2006 © University of Nairobi, 2006, all rights reserved. No part of this Module may be reproduced in any form or by any means without permission in writing from the Publisher. TABLE OF CONTENTSLecture One Overview of Marketing………………………………………….. 1.1 Introduction …………………………………………………………………… 1.2 Objectives…………………………………………………………………… 1.3 Definitions of Marketing…………………………………………………… 1.4 Marketing and Selling……………………………………………………… 1.5 Core Concepts of Marketing……………………………………………….. 1.6 Marketing Management Philosophies……………………………………… 1.6.1 The Production Concept………………………………………………. 1.6.2 The Product Concept…………………………………………………… 1.6.3 The Selling Concept……………………………………………………… 1.6.4 The Marketing Concept……………………………………………….. 1.6.5 The Societal Marketing Concept……………………………………….. 1.6.6 Importance of Marketing to the Society 1.7 Summary…………………………………………………………………… 1.8 Reference…………………………………………………………………….. Lecture Two: Marketing Environment…………………………………………. 2.1 Introduction………………………………………………………………….. 2.2 Objectives…………………………………………………………………… 2.3 Definition of Marketing Environment………………………………………… 2.3.1 The companys Micro-Environment 2.3.2 Macro Environment Forces 2.4 Responding to the Marketing Environment………………………………….. 2.5 Summary………………………………………………………………………… 2.6 References…………………………………………………………………… Lecture Three: Marketing Research, Marketing Information Systems and Marketing Intelligence…………………………………………… 3.1 Introduction………………………………………………………………….. 3.2 Objectives……………………………………………………………………. 3.3 Importance of Marketing Research…………………………………………… 3.4 Definitions of Key Concepts………………………………………………… 3.4.1 Marketing Research…………………………………………………… 3.4.2 Marketing Information System (MIS)……………………………….. 3.4.3 Marketing Intelligence………………………………………………… 3.4.4 Market Research…………………………………………………….. 3.5 Types of Marketing Research……………………………………………….. 3.6 Marketing Research Process…………………………………………………. 3.7 Summary…………………………………………………………………….. 3.8 References…………………………………………………………………… Lecture Four: Consumer Behaviour……………………………………… 4.1 Introduction………………………………………………………………….. 4.2 Objectives……………………………………………………………………. 4.3 Definition of Consumer Behaviour………………………………………….. 4.4 Importance of Analyzing Consumer Behaviour of Marketers………………. 4.5 The Model of Consumer Behaviour…………………………………………. 4.6 Factors Influencing Consumer Behaviour…………………………………… 4.6.1 Factors Influencing Consumer Behaviour……………………………. 4.6.2 Social Factors…………………………………………………………. 4.6.3 Personal Factors………………………………………………………. 4.6.4 Psychological Factors………………………………………………… 4.7 The Buyer Decision Process………………………………………………… 4.7.1 Problem Recognition………………………………………………… 4.7.2 Information Search………………………………………………….. 4.7.3 Evaluation of Alternatives…………………………………………… 4.7.4 Purchase Decision…………………………………………………… 4.7.5 Post Purchase Behaviour…………………………………………….. 4.8 Types of Buying Decision Behaviour………………………………………. 4.8.1 Complex Buying Behaviour………………………………………… 4.8.2 Dissonance – Reducing Buying Behaviour…………………………. 4.8.3 Habitat Buying Behaviour…………………………………………… 4.8.4 Variety-seeking Buying Behaviour………………………………… 4.9 Summary…………………………………………………………………….. 4.10 References…………………………………………………………………… Lecture Five: Market Segmentation, Targeting and Positioning for Competitive Advantage…………………………………………… 5.1 Introduction………………………………………………………………….. 5.2 Objectives …………………………………………………………………… 5.3 Definitions of Key Words or Concepts……………………………………… 5.4 Levels of Market Segmentation…………………………………………….. 5.5 Bases for Segmenting Consumer Markets…………………………………… 5.6 Requirements for Effective Segmentation…………………………………… 5.7 Market Targeting……………………………………………………………. 5.7.1 Selecting Market Segments…………………………………………… 5.7.2 Choosing a Market Coverage Strategy……………………………….. 5.7.3 Choosing a Market Coverage Strategy………………………………… 5.8 Positioning for Competitive Advantage…………………………………….. 5.8.1 Choosing a Positioning Strategy……………………………………… 5.8.2 Identifying Possible Competitive Advantage………………………… 5.8.3 Choosing the Right Competitive Advantage…………………………. 5.8.4 Selecting an Overall Positioning Strategy…………………………… 5.8.5 Communicating and Delivering the Chosen Position……………….. 5.9 Summary…………………………………………………………………….. 5.10 Reference…………………………………………………………………….. Lecture Six Product Decisions…………………………………………………….. 6.1 Introduction………………………………………………………………….. 6.2 Objectives……………………………………………………………………. 6.3 Definition of a Product……………………………………………………… 6.4 Levels of a Product…………………………………………………………… 6.5 Unique Characteristics of Services………………………………………….. 6.6 Product Classifications………………………………………………………. 6.6.1 Consumer Goods Classification……………………………………… 6.5.2 Industrial Goods Classification……………………………………… 6.6.3 Consumer Goods Classification……………………………………… 6.6.4 Industrial Goods Classification……………………………………… 6.7 Individual Products Decisions……………………………………………….. 6.7.1 Consumer Goods Classification……………………………………… 6.7.2 Branding……………………………………………………………… 6.7.3 Brand Equity…………………………………………………………. 6.7.4 Major Branding Decisions…………………………………………… 6.7.5 Brand Strategy……………………………………………………….. 6.7.6 Packaging……………………………………………………………. 6.7.7 Labeling……………………………………………………………… 6.7.8 Product Support Services……………………………………………. 6.7.9 Product Support Services 6.8 Product Mix or Assortment…………………………………………………… 6.8.1 Dimensions of Product Mix……………………………………………. 6.8.3 Product Line Lengthening Decision…………………………………… 6.9 Product Life Cycle…………………………………………………………… 6.9.1 Introducing Stage……………………………………………………… 6.9.2 Growth Stage………………………………………………………….. 6.9.3 Maturity Stage………………………………………………………… 6.9.4 Decline Stage………………………………………………………….. 6.10 Benefits and Weakness of PLC……………………………………………… 6.11 New Products and New Product Development Process……………………… 6.11.1 What is a New Product?…………………………………………………………….. 6.11.2 New Product Development Process…………………………………. 6.12 The Consumer Adoption Process……………………………………………. 6.13 Adopter Categories………………………………………………………….. 6.14 Summary…………………………………………………………………… 6.15 References…………………………………………………………………… Lecture Seven : Distribution Decisions…………………………………………. 7.1 Introduction………………………………………………………………….. 7.2 Objectives……………………………………………………………………. 7.3 Meaning of Channel of Distribution…………………………………………. 7.4 Types of Channel of Distribution…………………………………………….7.5 Functions Performed by Market Intermediaries or Middlemen……………… 7.6 Intensity of Distribution Decision…………………………………………… 7.7 Summary……………………………………………………………………… 7.8 References…………………………………………………………………… Lecture Eight: Promotion Decisions…………………………………………….. 8.1 Introduction………………………………………………………………….. 8.2 Objectives……………………………………………………………………. 8.3 Meaning of Promotion……………………………………………………….. 8.4 Promotion Methods………………………………………………………….. 8.4.1 Personal Selling……………………………………………………… 8.4.2 Advertising…………………………………………………………… 8.4.3 Sales Promotion……………………………………………………… 8.4.4 Public Relation………………………………………………………. 8.4.5 Publicity……………………………………………………………… 8.5 Communication Process and Promotion…………………………………….. 8.6 Purposes of Promotion………………………………………………………. 8.7 Determining and Managing the Promotion Mix…………………………….. 8.7.1 Setting Objectives for Communication……………………………….. 8.7.2 Factors Influencing the Choice of the Promotion Mix………………… 8.7.3 Setting the Total Promotion Budget…………………………………… 8.7.4 Evaluating and Controlling Promotion Program……………………… 8.8 Advertising, Personal Selling, Sales Promotion Public Relations and Publicity……………………………………………………………………… 8.8.1 Advertising……………………………………………………………. 8.8.2 Personal Selling……………………………………………………….. 8.8.3 Sales Promotion……………………………………………………….. 8.8.3.1 Consumer-Oriented Sales Promotion Techniques…………………… 8.8.4 Publicity………………………………………………………………. 8.9 Summary……………………………………………………………………… 8.10 References…………………………………………………………………… Lecture Nine: Pricing Products/Decisions………………………………………. Introduction …………………………………………………………………. Objectives……………………………………………………………………. Meaning of Pricing………………………………………………………….. Importance of Pricing……………………………………………………….. 9.4.1 In the Economic……………………………………………………… 9.4.2 To the Individual Firm……………………………………………….. 9.4.3 To the Individual Consumer…………………………………………. 9.5 Pricing Objectives…………………………………………………………… 9.5.1 Status Quo Objectives……………………………………………….. 9.5.2 Profit Objectives……………………………………………………… 9.5.3 Sales Objectives……………………………………………………… 9.6 Factors to Consider in Price Determination…………………………………. 9.6.1 Marketing Objectives………………………………………………… 9.6.2 Marketing Mix Variables……………………………………………. 9.6.3 Cost…………………………………………………………………… 9.6.4 The Market and The Demand………………………………………… 9.6.5 Consumer Perceptions of Price and Value…………………………… 9.6.6 Competitors…………………………………………………………… 9.6.7 Ethical Considerations………………………………………………. 9.6.8 Government………………………………………………………….. 9.7 Product Mix Pricing Strategies……………………………………………… 9.7.1 Product Line Pricing………………………………………………….. 9.7.2 Optional – Product Pricing……………………………………………. 9.7.3 Captive – Product Pricing……………………………………………… 9.7.4 By-Product Pricing……………………………………………………. 9.7.5 Product Bundle Changes……………………………………………… 9.8 Initiating Price Changes……………………………………………………… 9.8.1 Initiating Price Cuts…………………………………………………… 9.8.2 Initiating Price Increases……………………………………………… 9.9 Responding to Price Changes………………………………………………… 9.10 Psychological Pricing………………………………………………………… 9.10.1 Reference Price……………………………………………………….. 9.10.2 Odd-Even Pricing…………………………………………………….. 9.11 Promotional Pricing………………………………………………………….. 9.11.1 Weakness of Promotional Pricing…………………………………… 9.12 Price Discrimination/Segmented Pricing……………………………………. 9.13 Geographical Pricing………………………………………………………… 9.13.1 Uniform……………………………………………………………… 9.13.2 Zone Pricing…………………………………………………………. 9.13.3 Basing-Point Pricing………………………………………………….. 9.13.4 Freight-Absorption Pricing…………………………………………… 9.13.5 International Pricing…………………………………………………. 9.14 Summary……………………………………………………………………… 9.15 References……………………………………………………………………