Credits 2

Pre-requisites – None

Compulsory / Optional - Compulsory for Mechanical Engineering with Business Track of Mechanical Engineering / Optional for Others

To introduce engineering students to basic marketing concepts and their applications.

1. Describe basic marketing terminology and concepts.

2. Explain the characteristics of consumers and businesses buyer behaviour.

3. Explain market segmentation, targeting and positioning for a product or a service.

4. Develop a marketing plan using the elements of marketing mix.

1. Introduction to Marketing:  Scope of marketing; needs; wants and demands; elements of marketing mix; collecting analysing market data.

2. Buyer Behaviour:  Consumer buyer behaviour; business buyer behaviour.

3. Segmentation Targeting and Positioning:  Analysing marketing environment; bases of segmentation; selecting target segments; positioning the product.

4. Products and Services:  Goods and services; differentiating products; product life cycle; branding; building brand equity.

5. Pricing:  Considerations in setting initial price; adapting price.

6. Promotions:  Promotions mix; 5M’s in advertising; sales promotions; public relations; personal selling.

7. Marketing Channels:  Selecting marketing channels; retailing and wholesaling; franchising; managing channel conflict.