Marketing Management represents the marketing concept
Marketing Management represents the marketing concept in action i.e. customer-oriented demand management under marketing philosophy. Marketing Management can be defined as the process of managing marketing programs to meet organizational goals and objectives. It is managing important and creative functions of giving consumer satisfaction and thus making profits through consumer demand.
The definition given by the American Marketing Association (AMA) in 1985 is: marketing (management) is the process of planning and executing concepts, pricing, promotion and distribution of goods, services and ideas that meets and organizational objectives. It definition recognises that marketing management is a process that includes, analysis, planning, implementation and control, that it incorporates objects, services and ideas that depend on the perception of exchange and to produce satisfaction for goods involved sides.
Marketing management is directly in charge.
● Establish marketing goals,
● Development of marketing plans,
● Organizing marketing functions,
● Marketing plan in action and.
● Controlling marketing programs.
the purpose of marketing management
Marketing Management mainly belongs to activities that lead and wants to achieve long-term profits by meeting customer needs. However, the main objectives of marketing management are:
2. Each marketing activities revolve around consumers’ priorities in modern marketing. Therefore, selling goods and services are not only sufficient, but consumers’ satisfaction is more important.
3. Marketing-mix i.e., 4P of marketing
This way should be planned so that various requirements of all customers can be met.
4. Generate enough profit for business development and to survive in the market.
5. Building business goodwill by starting image building activities like sales promotion, promotion and advertising, high quality products, reasonable prices etc. It also helps to increase people’s lives.
the nature of marketing.
Important features of marketing management are as follows:
Marketing is a special business function. In the early days, the sales function didn’t call for any special skills as sales could have been affected on production-base. But now the business environment has made tremendous change in social, economic, political and cultural aspects. Therefore, the management of a firm must develop a special organisation to absorb new ideas, new perspectives and new market demands.
● Marketing is a social task. This requires constant conversation with various levels of society. It is important in manipulating factors of production, distribution, promotion and price, and also in affecting the consumption and pattern of consumer approach.
● Marketing is an integrated function. This intention
combines other business functions such as production, finance, personnel, research and development etc to meet organizational purposes.
● Marketing represents the business mission of a firm before the public and society.
It’s said that change is the only original law.
Economics. Marketing, which is the art of distributing products and services among various claimants, has only a basic law, change.
● Marketing is a universal task. It has a universality that it can be implemented on both beneficial and nonprofit motive organizations. A profit demand depends on business unit marketing. Institutions like hospital, school, university or political union also practice marketing in popularizing the services they offer.
● Marketing is a management task such as producing, finance, managing other tasks such as personnel, etc. Business policies, strategies and programs related to marketing are of mostly managerial tasks.
● Through research and development determines the marketing, engineer, designer and manufacturer of what the customer wants in a given product, what pricing he is ready to pay, and when and when it wants to.
● Marketing product innovation and planning, production scheduling as well as a right on the sales, distribution and servicing of the product.
Marketing is an art as well as an science. It’s a complex event as a human nature. Both apply to marketing rules as well as to get the best results for science.
Marketing is a system in which comprises of multiple inter-dependent and inter-acting sub-systems. It includes many functions that are inter-related. It receives input from the environment and turns them into outputs in profits size through customer satisfaction.
