Prof.(Dr.) Arun Bhatia

Scope of Marketing The scope of marketing management encompasses a wide range of activities and functions aimed at creating, communicating, delivering, and exchanging value with customers. It plays a central role in driving business success by aligning organizational objectives with customer needs and market opportunities. Here's an exploration of the scope of marketing management, covering its key components and functions: Product Development: Marketing management plays a crucial role in product development by identifying market needs, conducting market research, and conceptualizing new products or services that meet customer demands. Marketers work closely with product development teams to define product features, specifications, and positioning strategies that differentiate the offering from competitors and appeal to target audiences. Pricing Strategy: Pricing is a fundamental element of marketing management, as it directly impacts profitability, market positioning, and custo...

  Marketing, Sales, and Branding are interconnected components of a company's strategy to promote its products or services, attract customers, and build a strong brand identity. Here's an explanation of each concept with examples: Marketing: Marketing encompasses a broad range of activities aimed at identifying, anticipating, and satisfying customer needs and wants. It involves market research, product development, pricing, distribution, promotion, and customer relationship management. Marketing strategies are designed to create awareness, generate interest, and ultimately drive sales of products or services. Example: Coca-Cola's "Share a Coke" campaign is a notable example of effective marketing. The campaign involved replacing the Coca-Cola logo on bottles and cans with popular names and encouraging consumers to share a Coke with friends and family. This personalized approach resonated with consumers, leading to increased brand engagement, social media buzz, an...