Principles of Marketing and E-Commerce: For University of Calcutta and West Bengal State University

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Cover Contents Syllabus Preface About the Authors Part I: Principles of Marketing Chapter 1: Marketing: Adding Value to Customers 1.1 Satisfying Customer Needs 1.2 Evolution of Marketing 1.3 Marketing: Concepts 1.3.1 Traditional Concept of Marketing 1.3.2 Modern Concept of Marketing 1.4 Definition of Marketing 1.5 Scope of Marketing 1.6 Nature of Marketing 1.7 Features of Marketing 1.8 Functions of Marketing 1.8.1 Functions Related to Merchandizing 1.8.2 Functions Related to Logistics 1.8.3 Functions Related to Supportive Activities 1.9 Importance of Marketing 1.10 Goals of Marketing 1.11 Tasks of Marketing 1.12 Basic Elements of Marketing 1.12.1 Need, Want and Demand 1.12.2 Exchange 1.12.3 Market 1.12.4 Marketer and Prospect 1.12.5 Offering 1.12.6 Value and Satisfaction 1.12.7 Relationship Marketing 1.12.8 Marketing Channels 1.12.9 Supply Chain 1.12.10 Competition 1.13 Classification of Markets 1.14 Marketing Philosophy 1.14.1 Production Orientation 1.14.2 Product Orientation 1.14.3 Selling Orientation 1.14.4 Marketing Orientation 1.14.5 Societal Orientation 1.15 Difference Between Selling and Marketing 1.16 Online Marketing 1.17 Challenges of Marketing 1.18 Ethical Issues in Marketing 1.19 Growing Relevance of Marketing in India 1.20 Impact of Global Marketing on India 1.21 Marketing Management 1.21.1 Definition of Marketing Management 1.21.2 Scope of Marketing Management 1.21.3 Objectives of Marketing Management 1.21.4 Significance of Marketing Management 1.21.5 Functions of Marketing Managers 1.21.6 Responsibilities of Marketing Managers Summary Key Words Students’ Ready Reckoner Review Questions References Chapter 2: Marketing Environment: An Ever-changing Force 2.1 Converging Forces Favourably 2.2 Marketing Environment: Concept 2.3 Need of Environmental Analysis 2.4 Types of Environments 2.5 Micro Environment 2.6 Proximate Macro Environment 2.6.1 Suppliers 2.6.2 Intermediaries 2.6.3 Public 2.6.4 Competitor 2.7 General Macro Environment 2.7.1 Demographic Environment 2.7.2 Economic Environment 2.7.3 Technological Environment 2.7.4 Socio-Cultural Environment 2.7.5 Political Environment 2.7.6 Legal Environment 2.7.7 Ecological Environment 2.8 Techniques for Environmental Scanning Summary Key Words Students’ Ready Reckoner Review Questions Chapter 3: Segmenting, Targeting and Positioning: Reaching Consumers Efficiently 3.1 Shelving Diversified Customers 3.2 Market Segmentation: Concept 3.3 Rationale for Segmentation 3.4 Level of Market Segmentation 3.4.1 Mass Marketing 3.4.2 Segment Marketing 3.4.3 Niche Marketing 3.4.4 Local Marketing 3.4.5 Individual Marketing 3.5 Factors Influencing Choice of Bases for Segmentation 3.6 Bases for Segmenting Consumer Market 3.6.1 Geographical Variables 3.6.2 Demographic Variables 3.6.3 Psychographic Variables 3.6.4 Behavioural Variables 3.7 Bases for Segmenting Industrial Market 3.7.1 Demographic Variables 3.7.2 Operating Variables 3.7.3 Purchasing Variables 3.7.4 Situational Variables 3.7.5 Personal Characteristics 3.8 Patterns of Segmentation 3.9 Segmentation Procedure 3.10 Factors Determining Effective Segmentation 3.11 Market Targeting 3.11.1 Meaning of Market Targeting 3.11.2 Target Market 3.11.3 Strategies for Selecting Target Market 3.12 Positioning 3.12.1 Concept of Positioning 3.12.2 Steps in Positioning 3.12.3 Positioning Errors 3.12.4 Positioning Strategies 3.13 Market Share Summary Key Words Students’ Ready Reckoner Review Questions Chapter 4: Consumer Behaviour: Knowing the Unknown 4.1 Answering Bunch of ‘Wh’ Questions 4.2 Consumer Behaviour: Meaning 4.3 Factors Influencing Consumer Behaviour 4.3.1 Cultural Factors 4.3.2 Social Factors 4.3.3 Personal Factors 4.3.4 Psychological Factors 4.4 Patterns of Buying Behaviour 4.5 Buying Roles 4.6 Consumers’ Decision-Making Process Summary Key Words Students’ Ready Reckoner Review Questions Chapter 5: Marketing Mix: Blending with Marketing Flavour 5.1 Influencing Consumers’ Demand 5.2 Marketing Mix: Concept 5.3 Elements of Marketing Mix 5.3.1 Product 5.3.2 Price 5.3.3 Place 5.3.4 Promotion 5.4 4Cs of Marketing 5.4.1 Customer Solution 5.4.2 Customer Cost 5.4.3 Convenience 5.4.4 Communication Summary Key Words Students’ Ready Reckoner Review Questions Chapter 6: Product Management: Going Beyond Tangibility 6.1 Selling the Concept, not the Content 6.2 Product: Meaning 6.3 Product Planning 6.3.1 Classification of Products 6.3.2 Product Levels 6.3.3 Product Mix 6.3.4 Product Policy 6.3.5 Product Portfolio 6.4 Product Line Decisions 6.4.1 Product Line Length 6.4.2 Product Line Modernization 6.4.3 Product Line Featuring and Line Pruning 6.5 Product Differentiation 6.5.1 Product Differentiation: Concept 6.5.2 Product Differentiation: Methods 6.5.3 Guidelines for Effective Differentiation 6.5.4 Degree of Differentiation 6.6 Product-Related Strategies 6.6.1 Branding 6.6.2 Packaging 6.6.3 Labelling 6.7 New Product 6.7.1 Meaning of New Product 6.7.2 Stages of New-Product Development 6.7.3 Reasons for Failure of a New Product 6.8 Product Adoption 6.9 Product Life Cycle 6.9.1 Concept of Product Life Cycle 6.9.2 Stages of Product Life Cycle and Strategies Summary Key Words Students’ Ready Reckoner Review Questions Chapter 7: Pricing: Justifying Value of Products 7.1 Evaluating Every Unit of Money 7.2 Price: Concept 7.3 Pricing: Meaning 7.4 Importance of Pricing 7.5 Pricing Objective 7.6 Factors Influencing Pricing 7.7 Procedure of Price Determination 7.8 Pricing Strategies 7.9 Price Change 7.10 Pricing of Services Summary Key Words Students’ Ready Reckoner Review Questions Chapter 8: Promotion: Stimulating Consumers’ Desire 8.1 Shaping Customers’ Demand 8.2 Communication Process 8.3 Promotion: Meaning 8.4 Objectives of Promotion 8.5 Promotion Mix: Concept 8.6 Promotion Mix Strategies 8.7 Advertising 8.7.1 Advertising: Concept 8.7.2 Definition of Advertising 8.7.3 Objectives of Advertising 8.7.4 Role of Advertising 8.7.5 Types of Advertising 8.7.6 Media of Advertising 8.7.7 Factors Influencing Selection of Media 8.7.8 Developing an Advertising Programme 8.7.9 Advertising Effectiveness 8.8 Sales Promotion 8.8.1 Sales Promotion: Concept 8.8.2 Definition of Sales Promotion 8.8.3 Objectives of Sales Promotion 8.8.4 Types of Sales Promotion 8.8.5 Methods of Sales Promotion 8.8.6 Sales Promotion Effectiveness 8.9 Personal Selling 8.9.1 Personal Selling: Concept 8.9.2 Definition of Personal Selling 8.9.3 Objectives of Personal Selling 8.9.4 Process of Personal Selling 8.9.5 Role of Personal Selling 8.9.6 Qualities of a Successful Sales Person 8.9.7 Managing Sales Force in Personal Selling 8.10 Direct Marketing 8.11 Public Relations 8.11.1 Public Relations: Concept 8.11.2 Definition of Public Relations 8.11.3 Objectives of Public Relations 8.11.4 Role of Public Relations 8.11.5 Media Used in Public Relations Summary Key Words Students’ Ready Reckoner Review Questions References Chapter 9: Distribution Management: Fortifying the Network 9.1 Bridging the Gap Between Producers and Consumers 9.2 Distribution Management: Concept 9.3 Distribution Channels 9.3.1 Meaning of Distribution Channel 9.3.2 Importance of Distribution Channels 9.3.3 Role of Distribution Channels 9.3.4 Types of Distribution Channels 9.3.5 Factors Guiding Selection of a Channel 9.3.6 Classification of Intermediaries 9.3.7 Channel Levels 9.3.8 Channel Design Decision 9.3.9 Channel Management Decision 9.3.10 Channel Conflict 9.4 Logistics Management 9.4.1 Meaning of Logistics Management 9.4.2 Objectives of Logistics Management 9.4.3 Major Logistics Functions 9.4.4 Decisions Relating to Logistics Management Summary Key Words Students’ Ready Reckoner Review Questions References Chapter 10: Marketing Information System and Marketing Research: Searching and Shaping 10.1 Devising Business for Tomorrow 10.2 Marketing Information System (MIS) 10.2.1 Marketing Information System (MIS): Concept 10.2.2 Components of MIS 10.2.3 Characteristics of a Good MIS 10.3 Marketing Research 10.3.1 Marketing Research: Meaning 10.3.2 Importance of Marketing Research 10.3.3 Objectives of Marketing Research 10.3.4 Characteristics of Marketing Research 10.3.5 Marketing Research Process 10.3.6 Limitations of Marketing Research Summary Key Words Students’ Ready Reckoner Review Questions Reference Chapter 11: Retail Management: Serving Customers 11.1 Changing Dimension of Shopping 11.2 Retailing: Concept 11.3 Characteristics of Retail Trade 11.4 Functions of Retailers 11.5 Classification of Retailers 11.5.1 Classification on the Basis of Merchandise and Pricing 11.5.2 Classification on the Basis of Operational Structure 11.6 Retail Management: Meaning 11.7 Functions of Retail Management 11.8 Non-Store Retailing 11.9 Identifying Customers 11.10 Developing Merchandise Plan 11.10.1 Objectives of Merchandise Plan 11.10.2 Sales Forecasting 11.10.3 Assortment Plan 11.11 Retail Pricing 11.11.1 Concept of Retail Pricing 11.11.2 Factors Affecting Pricing Decision 11.11.3 Approaches Adopted in Pricing 11.11.4 Pricing Strategies 11.12 Retail Promotion 11.12.1 Concept of Retail Promotion 11.12.2 Elements of Promotional Mix 11.12.3 Promotional Strategies 11.13 Retailing in India 11.14 Global Overview of Retailing Summary Key Words Students’ Ready Reckoner Review Questions Part II: E-commerce Chapter 12: E-commerce: The New Business Paradigm 12.1 Emergence of E-Commerce 12.2 E-Commerce: Concept 12.3 Definition of E-Commerce 12.4 Importance of E-Commerce in the Present Market Scenario 12.5 Popularity of E-Commerce Over Traditional System of Commerce 12.6 Nature of E-Commerce 12.7 Scope of E-Commerce 12.8 Reasons for Development of E-Commerce 12.9 Features of E-Commerce 12.10 Advantages of E-Commerce 12.11 Disadvantages of E-Commerce 12.12 Techniques of E-Commerce 12.12.1 EDI 12.12.2 E-Mail 12.12.3 Internet 12.12.4 World Wide Web 12.13 Barriers to E-Commerce 12.14 Areas of E-Commerce Application 12.15 Relevance of E-Commerce in India 12.16 Challenges for E-Commerce in India 12.17 Laws for E-Commerce in India 12.17.1 It Act, 2000 12.17.2 It Bill 2006 12.17.3 Benefits of Cyber Law for E-Commerce 12.17.4 Limitations of the Indian Cyber Law 12.18 E-Business 12.19 Comparison Between E-Business and E-Commerce 12.20 Internet 12.21 Various Parts of the Internet 12.21.1 Network 12.21.2 World Wide Web 12.21.3 E-Mail 12.21.4 Internet Relay Chat 12.21.5 Usenet 12.21.6 Telnet 12.21.7 Intranet 12.21.8 Extranet 12.21.9 Ethernet 12.22 Necessity of the Internet in E-Commerce and E-Business 12.23 Internet Usage in India Summary Key Words Students’ Ready Reckoner Review Questions Chapter 13: Mobile Commerce (M-commerce): Business at Fingertips 13.1 Entry Into the Wireless World 13.2 M-Commerce: Concept 13.3 Definition of M-Commerce 13.4 Features of M-Commerce 13.5 Techniques of M-Commerce 13.5.1 GSM 13.5.2 CDMA 13.5.3 TDMA 13.5.4 GPRS 13.5.5 3G 13.5.6 CDPD 13.6 Advantages of M-Commerce 13.7 Disadvantages of M-Commerce 13.8 Areas of M-Commerce Application 13.9 Payment System in M-Commerce 13.10 Payment Models in M-Commerce 13.10.1 Acquirer-Centric 13.10.2 Issuer-Centric 13.10.3 Operator-Centric 13.11 Relevance of M-Commerce in India Summary Key Words Students’ Ready Reckoner Review Questions Chapter 14: Forms of E-commerce: Business Models 14.1 Diversified Business Relationships in E-Commerce 14.2 Business Model: Concept 14.3 Elements of a Business Model 14.4 Various Business Models in E-Commerce 14.5 Business-to-Consumer (B2C) Model 14.5.1 the Concept 14.5.2 Major Functional Areas 14.5.3 Models of B2C 14.5.4 Needs for B2C 14.5.5 Challenges for B2C 14.6 Business-to-Business (B2B) Model 14.6.1 Concept 14.6.2 Major Functional Areas 14.6.3 Models of B2B 14.6.4 Need for B2B 14.6.5 Types of B2B Marketplace 14.6.6 Differences Between B2C and B2B 14.6.7 Challenges for B2B 14.7 Consumer-to-Business (C2B) Model 14.8 Consumer-to-Consumer or Peer-to-Peer (C2C or P2P) Model 14.9 Business-to-Employee (B2E) Model 14.10 Government-to-Citizen (G2C) Model Summary Key Words Students’ Ready Reckoner Review Questions Chapter 15: E-CRM: Retaining Customers 15.1 Building Relationship Capital 15.2 Customer Relationship Management 15.3 E-CRM: Winning Customers 15.4 E-CRM: Concept 15.5 Definition of E-CRM 15.6 Features of E-CRM 15.7 Significance of E-CRM 15.8 Benefits of E-CRM 15.9 Goals of E-CRM Business Framework 15.10 Tiers of E-CRM 15.10.1 Sales Force Automation 15.10.2 Marketing Automation 15.10.3 Customer Service 15.11 Architecture of E-CRM 15.11.1 Operational E-CRM 15.11.2 Analytical E-CRM 15.11.3 Collaborative E-CRM 15.12 Functional Components of E-CRM 15.12.1 Vision 15.12.2 Strategy 15.12.3 Valued Customer Experience 15.12.4 Organizational Collaboration 15.12.5 Process 15.12.6 Information 15.12.7 Technology 15.13 Types of E-CRM 15.14 Strategies for E-CRM Solution 15.15 Need of Technology in E-CRM 15.16 Benefits of Using Technology in E-CRM 15.17 Criteria for E-CRM 15.18 Focusing Customer Value 15.19 Creating Loyal Customer 15.20 Need for Customer Retention 15.21 Data-Mining in E-CRM Summary Key Words Students’ Ready Reckoner Review Questions Chapter 16: E-payment System: A Viable Alternative 16.1 Payment Mechanism 16.2 Drawbacks in Physical Payment System 16.3 Electronic Payment System (EPS): Concept 16.4 Benefits of EPS 16.5 Requisites of an Effective EPS 16.6 Different Types of E-Payment 16.6.1 Electronic Token 16.6.2 Electronic or Digital Cash 16.6.3 Electronic Cheque 16.6.4 Electronic Purse/Digital Wallet 16.6.5 Credit Card 16.6.6 Debit Card 16.6.7 Smart Card/Store-Value Card (SVC) 16.6.8 Ikp 16.7 Categories of E-Payment Transactions 16.8 Essentials of a Standard Mode of E-Payment 16.9 Micro Payment System 16.9.1 Visa Card 16.9.2 Micro Mint 16.9.3 Netfare 16.10 Resistance in Implementing EPS 16.11 Security Measures in EPS 16.11.1 Cryptography 16.11.2 Secure Socket Layer (SSL) 16.11.3 Secure Electronic Transaction (SET) 16.11.4 Digital Signature 16.12 Risks in EPS 16.13 Managing Risks in EPS 16.14 E-Payment Scenario in India 16.15 Online Financial Services 16.16 Online or Electronic Banking (E-Banking): Concept 16.17 Core Banking Solutions (CBS) 16.17.1 Function 16.17.2 Benefits 16.18 Electronic Funds Transfer 16.19 Automated Teller Machine (ATM) 16.20 Protecting Customers’ Privacy and Fraud 16.21 Mobile Banking 16.22 E-Banking Scenario in India Summary Key Words Students’ Ready Reckoner Review Questions Reference Chapter 17: Enterprise Resource Planning: The Journey Begins 17.1 Gaining Competitive Edge 17.2 ERP: Concept 17.3 Definition of ERP 17.4 Features of ERP 17.5 Scope of ERP 17.6 Role of ERP 17.7 Benefits of ERP 17.8 Limitation of ERP 17.9 Major Characteristics of ERP 17.10 Levels of ERP 17.11 Prerequisites of a Successful ERP 17.12 Modules (Domains) of ERP 17.12.1 Erp Purchasing Module 17.12.2 Erp Inventory Control Module 17.12.3 Erp Production Planning Module 17.12.4 Erp Finance Module 17.12.5 Erp Marketing Module 17.12.6 Erp Sales and Distribution Module 17.12.7 Erp Human Resource Management Module 17.12.8 Erp Resource Management Module 17.12.9 Erp Maintenance Module 17.12.10 Erp Project Management Module 17.13 Erp Implementation 17.13.1 Guidelines for ERP Implementation 17.13.2 Phases of ERP Implementation 17.13.3 Post-Implementation Activities 17.13.4 Risks in ERP Implementation 17.14 Enterprise Potential of ERP 17.15 ERP Packages 17.15.1 SAP AG 17.15.2 Oracle Corporation 17.15.3 Peoplesoft Inc. 17.15.4 JD Edwards 17.15.5 Qad Inc. 17.15.6 SSA Global 17.15.7 Lawson Software 17.15.8 Epic 17.15.9 Intuitive Manufacturing Systems 17.15.10 Sara Infotech Summary Key Words Students’ Ready Reckoner Review Questions References Chapter 18: E-supply Chain Management: Monitoring Supply Environment 18.1 Organizing Back-End Value Chain 18.2 Supply Chain Management (SCM) 18.3 E-SCM: Concept 18.4 E-SCM: Strategic Collaboration 18.5 Definition of E-SCM 18.6 Importance of E-SCM 18.7 Features of E-SCM 18.8 Objectives of E-SCM 18.9 Advantages of E-SCM 18.10 Disadvantages of E-SCM 18.11 E-SCM Planning (Components) 18.11.1 E-SCM Process 18.11.2 E-SCM Steps 18.12 Four Phases of E-SCM 18.13 Types of E-SCM 18.13.1 Private Industrial Network 18.13.2 Industry Consortia 18.13.3 Exchange 18.13.4 E-Distributor 18.13.5 E-Procurement 18.14 Models of E-SCM 18.14.1 Push-Based Model 18.14.2 Pull-Based Model 18.15 Supplier Relationship Management 18.16 E-SCM Packages Summary Key Words Students’ Ready Reckoner Review Questions References Bibliography Model Question Papers