Master of Management Studies (M.M.S) Application of Marketing Theory and Practice Syllabus - Mumbai University 2026

Course objectives

• 1 To introduce students to advanced positioning strategies and consumer behavior theories relevant to dynamic market environments.
• 2 To equip students with tools to apply consumer psychology, buying metrics, and brand evaluation in real-world marketing contexts.
• 3 To develop analytical capabilities to assess pricing, promotion, and communication strategies across consumer and B2B markets.
• 4 To foster critical thinking in evaluating integrated marketing decisions and optimizing the marketing mix.
• 5 To enable students in applying marketing frameworks through field-based projects and developing actionable marketing plans.

Course outcomes

• CO1: Understand the various types of positioning, as well as the frameworks and models of Consumer Behaviour.
• CO2: Apply the concepts of consumer psychology and behaviour to business situations
• CO3: Analyze marketing decisions based on the frameworks and consistency among various elements of the marketing mix
• CO4: Evaluate marketing decisions and identify the optimal solution in a given context
• CO5: Formulate a situations audit, and draw a Marketing plan covering all concepts and theories learnt

Unit 1 CO1, CO2, CO3 · 3 hours

Positioning: Reverse Positioning, Breakaway Positioning and Stealth positioning; Branding: Concept, Definition, Commodity Vs Brand, Product Vs Brand, Brand Culture and Brand Extensions. Brand Value – Reputation, Relationship, Experiential, Symbolic. Brand Evaluation - Behaviour, attitude, relationships, Brand equity.

Unit 2 CO2 · 1.5 hours

Customer Satisfaction and Loyalty: Success/ Failure of Loyalty Programs, Customer Lifetime Value.

Unit 3 CO2, CO3 · 3 hours

Consumer Behaviour: The framework of Consumer Behaviour – Cognitive vs. Emotional, High vs. Low Involvement, Optimising vs. Satisficing, Compensatory vs. Non-Compensatory Decisions.

Unit 4 CO2, CO3, CO4 · 1.5 hours

Consumer Decision-Making Process: Pre-Purchase – Purchase – Post Purchase; Return Policy, Warranty, Impact of Social Media; Psychology in Consumer Behaviour – Consumer Benefits Ladder, Prospect theory, Thales’ Endowment effect.

Unit 5 CO2, CO3, CO4 · 1.5 hours

Ehrenberg’s Law of Buying Frequency, Double Jeopardy Effect, Consumer Purchase as a Journey, Consumer and Product Metrics.

Unit 6 CO2, CO3 · 1.5 hours

Pricing Policy: Types of Pricing, Willingness to Pay; Steps in Pricing, Price Elasticity of Demand, List and Transaction Prices

Unit 7 CO2, CO3, CO4 · 3 hours

Price band – Reason for the Band, Category Expandability and Promotion, Constructing a Price Band through Price Differentials and Threshold Price, Pricing Strategies and Tactics, Promotion and Price bands

Unit 8 CO2, CO3 · 3 hours

Business to Business Marketing: Definition, Types of Products, Differences from Consumer Marketing; Nested Hierarchy Segmentation, Role of Decision-Making Units in Buying Decisions.

Unit 9 CO2, CO3 · 1.5 hours

B2B Purchases: Influence of Types of Purchases, Stages in the Buying Process; Types of Benefits – Combination of Economic, Tangible, Non-Economic and Intangible Benefits.

Unit 10 CO2, CO3 · 1.5 hours

Promotion and Marketing Communication: Role of Promotion in Pricing, Initiating Price Changes and Response to Competitor Changes; Role of Incentives, Setting Communication Objectives and Drafting Communication Messages; Deciding on Communication Media

Unit 11 CO3, CO4 · 1.5 hours

Integrated Marketing: Advertising in Print, Online, Radio, Social Media Platforms etc.; Managing Events and Public Relations; role of AI in marketing communications

Unit 12 CO2 , CO3 · 3 hours

Personal Selling: Designing the Sales Force, Managing the Sales Force, Evaluating the Sales Force; Direct Marketing

Unit 13 CO2, CO3 · 3 hours

Distribution Decisions – Logistics & Channel Decisions, Designing and Managing Distribution Channels (Retail, E- commerce, etc.)

Unit 14 CO3, CO4, CO5 · 1.5 hours

Field Based Live Projects and Presentations by capturing insights from Markets, and Cases

Text Books

• 1 Marketing Management, 15/16e by Kotler, Keller, Chernev, Sheth, Shainesh, Pearson Education
• 2 Marketing: Theory, Evidence, Practice: Byron Sharp, Oxford University Press.
• 3 Industrial Marketing, Robert R. Reeder, Briety & Betty H. Reeder, Prentice Hall India

Reference Books

• 1 Why we Buy? The Science of Shopping – Paco Underhill
• 2 How Brands Become Icons – The Principles of Cultural Branding – Douglas Holt
• 3 How Customers Think – Essential Insights into the minds of the Market – Gerald Zaltman
• 4 Marketing Metaphoria: What Deep Metaphors Reveal About the Minds of Consumers – Gerald Zaltman
• 5 Marketing as Strategy: Understanding CEO’s agenda for Driving growth and Innovation – Nirmalya Kumar