PRINCIPLES OF MARKETING (For 2nd Semester Students under Gauhati University)

Marketing is an essential function of any business bridging the gap between products and consumers. In today’s dynamic business environment understanding the principles of marketing is crucial for students aspiring to build careers in commerce and management. The National Education Policy (NEP) 2020 emphasizes a multidisciplinary and practical approach to learning encouraging students to develop analytical and decision-making skills in real-world business scenarios. Keeping this in mind Principles of Marketing has been designed to cater to the academic needs of B.Com 2nd Semester students of Gauhati University while aligning with the latest developments in marketing strategies and practices.This book provides a comprehensive yet simplified approach to the fundamental concepts of marketing ensuring clarity and application-oriented learning. The content is structured into five well-defined units covering key aspects of marketing:Unit I: IntroductionThis unit lays the foundation for marketing by exploring its nature scope and importance. It traces the evolution of marketing and differentiates it from selling. Additionally it introduces the marketing mix and examines the marketing environment discussing its various components including economic demographic technological natural socio-cultural and legal factors.Unit II: Consumer BehaviourA marketer’s success largely depends on understanding consumer behavior. This unit explains the nature and importance of consumer behavior the buying decision process and the various factors that influence consumer choices. It further explores market segmentation targeting and positioning (STP) and distinguishes between product differentiation and market segmentation.Unit III: ProductThis unit focuses on product concepts and classifications along with the importance of product mix branding packaging and labeling. It also discusses product-support services the product life cycle and the new product development process. The consumer adoption process is explained to provide insights into how consumers accept and use new products.Unit IV: Pricing and DistributionPricing is a crucial aspect of marketing strategy. This unit delves into the significance of pricing factors affecting price determination and various pricing policies and strategies. It also covers distribution channels their types functions and factors affecting their selection. Special attention is given to wholesaling retailing e-tailing and physical distribution.Unit V: Promotion and Recent Developments in MarketingThis unit discusses the nature and importance of promotion the communication process and the different types of promotion including advertising personal selling public relations and sales promotion. It also examines the promotion mix and the factors affecting promotional decisions. Additionally this unit introduces students to emerging trends in marketing such as social marketing online marketing direct marketing services marketing green marketing rural marketing and consumerism.Throughout the book efforts have been made to present the concepts in a structured and student-friendly manner. The book includes real-life examples case studies and self-assessment questions to encourage critical thinking and practical application of marketing concepts.This book is expected to serve as a valuable resource for students educators and aspiring marketers. We hope it fosters a deeper understanding of marketing principles and equips students with the knowledge required to navigate the ever-evolving marketing landscape.