Fundamentals of Business Studies 2023

Unit I Introduction
Nature, Scope and importance of marketing, Core marketing
concepts, Company orientation – Production concept, Product
concept, Selling concept, Marketing concept, Holistic marketing
concept. Overview of consumer buying process and factors
influencing consumer behavior
Unit II Segmentation, Targeting , Positioning
Market Segmentation: Levels of Market segmentation, basis for
segmenting consumer markets and Industrial markets. Market
Targeting: Evaluating and Selecting Market Segments.Positioning:
Positioning Statement, determining which positioning to promote.
Unit III Product
Product –definition – levels of product- classification of products –
Product Mix: Levels,Hierarchy, Classifications, Mix. Product life
cycle: The Concept and its Strategic Implications, Significance of
branding, New Product development Process.
Unit IV Pricing and Physical Distribution
Significance of pricing, factors influencing pricing, pricing objectives,
and Pricing Strategies Channels: Channel Functions and Flows,
Channel Levels, Whole Saling : Functions and typesof wholesalers.
Retailing – Retail functions -Types of retailers- retail decisions.
Unit V Promotion
Eight elements of the Promotion Mix: basics of Advertising (5M‘s),
Sales Promotion, Events & Experiences, Public Relations & Publicity,
Direct Marketing, Interactive Marketing, Word of Mouth Marketing
and Personal Selling. Factors affecting the promotion mix.