Where to Find PDF of Marketing Management: Indian Context, Global Perspective - The Ultimate Resource for Marketers
Marketing Management: Global Perspective, Indian Context
Marketing management is one of the most important and dynamic disciplines in business. It deals with creating value for customers and stakeholders by understanding their needs, wants and preferences, designing and delivering products and services that satisfy them, communicating effectively with them, building long-term relationships with them, and measuring and improving their satisfaction. Marketing management is also a strategic function that helps organizations achieve their goals by aligning their resources and capabilities with their market opportunities.
marketing management global perspective indian context pdf download
However, marketing management is not a one-size-fits-all concept. It varies depending on the context in which it is applied. Different markets have different characteristics, challenges and opportunities that require different approaches to marketing management. For example, marketing management in India is different from marketing management in other countries because India has a unique socio-cultural, economic, political and legal environment that influences consumer behavior, market structure, competition, regulation and innovation.
Therefore, it is essential for students, teachers, researchers and practitioners of marketing management to have a clear understanding of how marketing management works in the Indian context and how it relates to the global perspective. One of the best sources of such understanding is the book Marketing Management: Indian Context, Global Perspective by V.S. Ramaswamy and S. Namakumari. This book is a comprehensive, updated and engaging text that presents an India-centric approach to marketing management while also incorporating the latest developments and trends in the global marketing scenario.
In this article, we will review this book and its main features, discuss its impact and implications, and guide you on how to download its PDF version from various sources. We hope that this article will help you appreciate and learn from this book and enhance your knowledge and skills in marketing management.
What is Marketing Management?
Before we dive into the book, let us first define and explain what marketing management is. According to Ramaswamy and Namakumari, marketing management is "the process of planning, organizing, implementing and controlling marketing activities to facilitate exchanges effectively and efficiently" (p. 3). Marketing management is based on the philosophy of marketing, which is "a value-based approach to managing exchange relationships" (p. 4). Marketing management is also a practice, which involves applying the concepts and tools of marketing to solve real-world problems and create value for customers and stakeholders.
Marketing management has four main objectives: (1) to create customer value, which is the difference between the benefits that customers perceive from a product or service and the costs that they incur in acquiring and using it; (2) to build customer satisfaction, which is the extent to which customers' expectations are met or exceeded by a product or service; (3) to foster customer loyalty, which is the degree to which customers repeat their purchases or recommend a product or service to others; and (4) to enhance customer equity, which is the total lifetime value of all customers for an organization.
To achieve these objectives, marketing management involves four main tasks: (1) analyzing the market environment, which includes identifying and evaluating the opportunities and threats in the external environment and the strengths and weaknesses in the internal environment; (2) segmenting the market, which involves dividing the market into homogeneous groups of customers who have similar needs, wants and preferences; (3) targeting the market, which involves selecting one or more segments that are attractive and profitable for an organization; and (4) positioning the product or service, which involves creating a distinctive image and identity for a product or service in the minds of customers relative to competitors.
Marketing management also involves four main decisions: (1) product decisions, which include designing, developing, branding, packaging and managing the product or service portfolio; (2) price decisions, which include setting, modifying, communicating and implementing the price strategy; (3) place decisions, which include selecting, managing and evaluating the channels of distribution; and (4) promotion decisions, which include choosing, integrating and executing the communication mix.
Marketing management also requires four main processes: (1) marketing research, which involves collecting, analyzing and interpreting data about customers, markets, competitors and other relevant factors; (2) marketing strategy, which involves formulating, implementing and evaluating the overall direction and goals of marketing activities; (3) marketing planning, which involves developing, documenting and allocating the resources and actions for marketing activities; and (4) marketing control, which involves monitoring, measuring and correcting the performance of marketing activities.
Why is Marketing Management Important?
Marketing management is important for several reasons. First, marketing management helps organizations create value for customers and stakeholders by satisfying their needs, wants and preferences. By creating value, organizations can attract more customers, retain existing customers, increase customer loyalty, enhance customer equity, improve profitability and gain competitive advantage.
Second, marketing management helps organizations adapt to the changing market environment by identifying and exploiting new opportunities and coping with new challenges. The market environment is constantly evolving due to factors such as globalization, digitization, innovation, sustainability, social responsibility and diversity. Marketing management enables organizations to respond to these changes by developing new products or services, entering new markets or segments, adopting new technologies or platforms, pursuing new business models or partnerships or adopting new practices or standards.
Third, marketing management helps organizations develop their capabilities and competencies by learning from their experiences and feedback. Marketing management involves continuous experimentation, evaluation and improvement of marketing activities based on data-driven insights and customer-centric perspectives. Marketing management enables organizations to enhance their skills, knowledge and resources in areas such as product development, customer relationship management, marketing analytics, digital marketing, green marketing, social marketing and rural marketing.
How to Apply Marketing Management Concepts and Tools?
To apply marketing management concepts and tools effectively and efficiently one needs to follow a systematic and logical approach. The following steps can be used as a general guide for applying marketing management concepts and tools: - Step 1: Define the marketing problem or opportunity. This involves identifying the gap between the current and desired situation, the causes and consequences of the problem or opportunity, and the objectives and criteria for evaluating the solution. - Step 2: Conduct marketing research. This involves collecting, analyzing and interpreting data about the problem or opportunity, the market environment, the customers, the competitors and other relevant factors. Marketing research can be primary or secondary, qualitative or quantitative, exploratory or conclusive. - Step 3: Generate and evaluate alternative solutions. This involves brainstorming, screening and ranking possible solutions based on their feasibility, acceptability and suitability. Marketing tools such as SWOT analysis, Porter's five forces analysis, BCG matrix, Ansoff matrix and product life cycle can be used to assess the strengths, weaknesses, opportunities and threats of each solution. - Step 4: Choose and implement the best solution. This involves selecting the solution that best meets the objectives and criteria, developing an action plan for implementing it, allocating the resources and responsibilities for executing it, and communicating it to the relevant stakeholders. Marketing tools such as marketing mix, marketing strategy, marketing plan and marketing budget can be used to design and deliver the solution. - Step 5: Monitor and control the results. This involves measuring and evaluating the performance of the solution against the objectives and criteria, identifying and correcting any deviations or problems, and making any necessary adjustments or improvements. Marketing tools such as marketing metrics, marketing dashboard, marketing audit and marketing control can be used to track and improve the results. Marketing Management: Indian Context, Global Perspective by Ramaswamy and Namakumari
Now that we have a basic understanding of what marketing management is and how to apply it, let us review one of the most comprehensive and authoritative books on this subject: Marketing Management: Indian Context, Global Perspective by V.S. Ramaswamy and S. Namakumari. This book is a pioneer in presenting an India-centric approach to marketing management while also incorporating the global perspective. It is widely used by students, teachers, researchers and practitioners of marketing management in India and abroad.
The book was first published in 1987 by Macmillan India Ltd. Since then, it has gone through six editions, with the latest one published in 2018 by SAGE Publications India Pvt Ltd. The book has been revised and updated regularly to reflect the changes and developments in the marketing environment, both in India and globally. The book has also received several awards and recognitions for its excellence and contribution to the field of marketing.
The book covers all aspects of marketing management in a comprehensive, rigorous and engaging manner. It provides a balanced blend of theory and practice, concepts and cases, facts and insights. It also offers a variety of features that enhance its readability, usability and value. Let us look at some of these features in more detail.
The Structure and Content of the Book
The book is divided into nine parts and 31 chapters that cover all the essential topics of marketing management in a logical and sequential order. The nine parts are: - Part I: Introduction to Marketing Management - Part II: Understanding Markets - Part III: Market Segmentation - Part IV: Market Targeting - Part V: Market Positioning - Part VI: Product Decisions - Part VII: Price Decisions - Part VIII: Place Decisions - Part IX: Promotion Decisions Each part consists of three or four chapters that delve into the specific aspects of each topic. Each chapter begins with a chapter outline that gives an overview of what will be covered in that chapter. Each chapter also ends with a summary that highlights the key points of that chapter. The book also provides several appendices that provide additional information on topics such as market research methods, marketing ethics, marketing laws, marketing organizations, marketing glossary, and references. The book also includes an index that helps readers find specific terms or topics easily.
The Highlights and Innovations of the Book
The book is not just a textbook but a treasure trove of marketing knowledge and wisdom. The book contains many features that make it stand out from other books on marketing management. Some of these features are: - Marketing Insight Exhibit: This is a new feature introduced in the sixth edition of the book. It consists of 140 exhibits that explain how high-performing Indian and global companies keep excelling in their marketing efforts. These exhibits showcase the best practices, strategies, tactics and innovations of these companies in various domains of marketing such as digital marketing, green marketing, social marketing and rural marketing. - Mini Cases: The book contains 31 mini cases that illustrate the real-life experiences of companies, both Indian and global, in dealing with various marketing challenges and opportunities. These mini cases are based on actual events and data and are designed to stimulate critical thinking and problem-solving skills among readers. - Digital Marketing: The book gives due importance to the role and impact of digital marketing in the contemporary marketing scenario. The book covers topics such as online marketing, social media marketing, mobile marketing, e-commerce, digital analytics, search engine optimization, content marketing and email marketing. The book also provides examples and cases of how companies use digital marketing to create value for customers and stakeholders. - Green Marketing: The book recognizes the need and importance of green marketing in the context of environmental sustainability and social responsibility. The book covers topics such as green products, green pricing, green distribution, green promotion and green branding. The book also provides examples and cases of how companies adopt green marketing to reduce their environmental impact and enhance their social image. - Social Marketing: The book acknowledges the role and significance of social marketing in the context of social change and development. The book covers topics such as social products, social pricing, social distribution, social promotion and social branding. The book also provides examples and cases of how organizations use social marketing to address social issues and causes such as health, education, sanitation, safety and empowerment. - Rural Marketing: The book appreciates the potential and challenges of rural marketing in the context of India's large and diverse rural market. The book covers topics such as rural consumers, rural markets, rural segmentation, rural targeting, rural positioning, rural product decisions, rural price decisions, rural place decisions and rural promotion decisions. The book also provides examples and cases of how companies succeed in rural marketing by understanding and satisfying the needs, wants and preferences of rural customers.
The Strengths and Limitations of the Book
The book has many strengths that make it a valuable and reliable source of learning and reference for anyone interested or involved in marketing management. Some of these strengths are: - Relevance: The book is relevant to the Indian context and the global perspective of marketing management. It captures the unique characteristics, challenges and opportunities of the Indian market and the global market and how they influence and shape the marketing management practices and outcomes of organizations operating in these markets. - Readability: The book is readable and enjoyable to read. It uses simple, clear and concise language and style to explain complex, abstract and technical concepts and terms. It also uses examples, stories, anecdotes, quotes, diagrams, tables, charts, graphs, pictures, and illustrations to make the content more interesting, engaging, and memorable. - Rigor: The book is rigorous and comprehensive in its coverage and treatment of marketing management topics. It provides a balanced blend of theory and practice, concepts and cases, facts and insights. It also uses data-driven, evidence-based, and research-based approaches to support its arguments, claims, and recommendations. - Richness: The book is rich and diverse in its content and features. It covers all aspects of marketing management in depth and breadth. It also offers a variety of features that enhance its readability, usability, and value. These features include marketing insight exhibits, mini cases, digital marketing, green marketing, social marketing, rural marketing, appendices, index, etc. The book also has some limitations that may affect its suitability or applicability for some readers or situations. Some of these limitations are: - Length: The book is long and voluminous. It contains 912 pages that cover 31 chapters and nine parts. It may be difficult or tedious for some readers to read or finish the whole book in a short time or limited space. It may also be challenging or impractical for some teachers or instructors to cover or teach the whole book in a single course or semester. - Complexity: The book is complex and detailed. It covers many topics that involve multiple concepts, tools, processes, analyses, models, frameworks, methods, techniques, etc. It may be confusing or overwhelming for some readers to grasp or remember all these elements or how they relate to each other. It may also be demanding or cumbersome for some teachers or instructors to explain or demonstrate all these elements or how they apply to different situations or problems. - Scope: The book is broad and general. It covers all aspects of marketing management in a comprehensive manner. However, it may not cover some specific aspects of marketing management that are relevant or important for some readers or situations. For example, it may not cover some specialized or emerging domains of marketing such as experiential marketing such as experiential marketing, content marketing, influencer marketing, etc. For example, it may not cover some specific techniques or platforms such as live-streaming, podcasting, TikTok, etc. It may also not cover some specific industries or sectors such as healthcare, education, tourism, etc. Therefore, readers may need to supplement their learning with other sources or materials that cover these aspects in more depth or detail.
The Impact and Implications of the Book
The book has had a significant impact and implications on the teaching and learning of marketing management in India and abroad. It has influenced and shaped the knowledge and practice of marketing management among students, teachers, researchers and practitioners. It has also contributed and recognized the development and dissemination of marketing knowledge and practice in India and globally.
The Contribution and Recognition of the Book
The book has made a valuable contribution to the field of marketing by presenting an India-centric approach to marketing management that is relevant, rigorous and rich. The book has filled a gap in the literature by addressing the specific characteristics, challenges and opportunities of the Indian market and the global market. The book has also provided a comprehensive, updated and engaging coverage of all aspects of marketing management in theory and practice.
The book has also received wide recognition and appreciation from various stakeholders for its excellence and contribution. The book has been adopted by many prestigious institutions and universities in India and abroad as a textbook or reference for their courses or programs on marketing management. The book has also been reviewed and praised by many experts and authorities in the field of marketing for its quality and value. The book has also won several awards and honors for its innovation and impact.
The Challenges and Opportunities for the Book
The book also faces some challenges and opportunities for its future development and improvement. The book needs to keep pace with the changing market environment and customer expectations by incorporating the latest developments and trends in marketing management. The book also needs to address the emerging challenges and opportunities in marketing management such as digital transformation, sustainability, social responsibility, innovation and diversity.
The book can leverage its strengths and overcome its limitations by adopting some strategies such as: -