Marketing Management South Asian Perspective Philip Kotler Koshy Jha 14th Edition
Marketing Management: A South Asian Perspective
Marketing management is the art and science of choosing target markets and creating, delivering, and communicating superior customer value. It involves analyzing the opportunities and challenges in the marketplace, developing effective strategies and plans, implementing and controlling the marketing programs, and evaluating the results and performance. Marketing management is a dynamic and evolving field that requires constant adaptation and innovation to meet the changing needs and preferences of customers, competitors, and society.
Marketing management is also a context-specific discipline that varies across different regions, cultures, and markets. The South Asian market, comprising of countries such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives, and Afghanistan, is one of the most diverse, complex, and challenging markets in the world. It has a population of over 1.8 billion people, with different languages, religions, ethnicities, income levels, lifestyles, and consumption patterns. It also has a rapidly growing economy, with a GDP of over $3.5 trillion in 2020, making it the third-largest economy in Asia and the sixth-largest in the world. The South Asian market offers immense opportunities for marketers to tap into its large and growing consumer base, as well as its rich and varied cultural heritage.
However, marketing in South Asia also poses many challenges and risks for marketers. Some of the key challenges include:
The high degree of heterogeneity and fragmentation of the market, which requires marketers to adopt a differentiated and customized approach for each segment and sub-segment.
The low level of literacy and awareness among many consumers, especially in rural areas, which limits the effectiveness of mass media and communication channels.
The high level of competition from both local and global players, which requires marketers to constantly innovate and differentiate their offerings.
The regulatory and political environment, which can be unpredictable and unstable, affecting the ease of doing business and the protection of intellectual property rights.
The social and ethical issues, such as poverty, inequality, corruption, environmental degradation, and cultural sensitivity, which require marketers to be responsible and ethical in their practices.
To succeed in the South Asian market, marketers need to have a deep understanding of the local context and culture, as well as a global perspective and vision. They need to adopt a customer-centric approach that focuses on creating value for customers rather than selling products or services. They need to leverage the strengths and opportunities of the market while overcoming or minimizing the weaknesses and threats. They need to develop a long-term relationship with customers based on trust, loyalty, and satisfaction.
One of the most comprehensive and authoritative books on marketing management in the South Asian context is Marketing Management: A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha. This book is based on the global bestseller Marketing Management by Kotlerand Keller, which is widely regarded as the bible of marketing. The book covers all the essential topics and concepts of marketing management from a strategic and analytical perspective. It also incorporates relevant examples, cases, insights, and best practices from the South Asian market to illustrate how marketing theory can be applied in practice. The book is divided into five parts:
Understanding Marketing Management: This part introduces the basic concepts and definitions of marketing management; explains the role of marketing in creating customer value; discusses the importance of marketing research; analyzes the micro- (customers)and macro- (competitors)environments; describes how to segment,target,and position markets;and outlines how to develop a marketing plan.
Developing Marketing Strategies And Plans: This part focuses on how to formulate effective marketing strategies and plans; examines how to conduct a situation analysis; explores how to identify and evaluate opportunities; explains how to choose a competitive advantage; discusses how to set objectives and goals; describes how to design business models;and presents how to organize and implement marketing activities.
Developing Marketing Offerings: This part deals with how to create and deliver superior customer value through product,services,and brand management; explains how to design product strategies; discusses how to manage product life cycles; explores how to develop new products; describes how to manage service quality; examines how to build strong brands;and illustrates how to measure brand equity.
Delivering And Communicating Value: This part covers how to communicate and deliver value to customers through pricing,distribution,and promotion management; explains how to set pricing objectives and strategies; discusses how to design and manage distribution channels; explores how to select and use marketing communication tools; describes how to design and execute advertising,sales promotion,and public relations campaigns;and examines how to manage personal selling and direct marketing.
Managing Marketing Programs: This part focuses on how to monitor and control marketing programs and performance; explains how to evaluate marketing effectiveness and efficiency; discusses how to use marketing metrics and dashboards; explores how to conduct marketing audits; describes how to manage marketing ethics and social responsibility;and examines how to manage marketing in a globalized and digitalized world.
The book is written in a clear and concise style, with a logical and coherent structure. It uses a variety of pedagogical features, such as learning objectives, key terms, summaries, review questions, exercises, case studies, and endnotes, to enhance the learning experience of the readers. The book is also supported by a rich set of online resources, such as instructor's manual, test bank, PowerPoint slides, video cases, and web links, to facilitate the teaching and learning process. The book is suitable for undergraduate and postgraduate students of marketing management, as well as for practitioners and professionals who want to update their knowledge and skills in marketing management.
Marketing Management: A South Asian Perspective is a must-read book for anyone who wants to learn about the art and science of marketing management in one of the most dynamic and diverse markets in the world. It provides a comprehensive and insightful overview of the concepts, tools, and techniques of marketing management from both a global and a local perspective. It also offers practical guidance and inspiration on how to apply marketing management in real-world situations. It is a book that will help you master the art and science of marketing management in the South Asian context.