Well, when talking about Marketing management is the organizational discipline that focuses on the practical application of marketing guidance, techniques and methods within companies and organizations and the management of the marketing resources and activities of a company.
Now we are going to explain about marketing management. Check them out below;
Marketing Management Definition
Marketing is the process used to determine which products or services may be of customer interest and the strategy to be used in sales, communications and business development (Kotler et al . 1996). The American Marketing Association describes marketing management as the process of planning and implementing the design, pricing , promotion, and delivery of concepts, products , and services to develop, share, and achieve individual and organizational objectives (Grönroos, 1989).
“Marketing management is the research, preparation, execution and control of initiatives designed to bring about desirable exchanges with target markets in order to achieve organizational objectives,” according to Philip Kotler.
It relies heavily on the design of the organizations offering the needs and desires of the target markets and the use of effective pricing, communication and distribution to inform, motivate and serve the market. “Marketing management is concerned with chalking out a specific program after careful analysis and forecasting of market situations and the ultimate implementation of these plans.
Why is Marketing Management Important in Business?
The core of any commercial success lies in its marketing techniques. Your business most perspective depends on successful marketing. Marketing administration simplifies the activities and functions involved in the distribution of goods and services. “Marketing management is the research, preparation, execution and control of initiatives designed to bring about desirable exchanges with target markets in order to achieve organizational objectives,” according to Philip Kotler.
In short, marketing management is a process which introduces a product or service to potential customers and promotes it to them. The process includes advertising , public relations, promotional activities, and sales. It represents the “road map” to achieve greater results, such as growth in sales, brand recognition, higher percolation in the market, and much more.
In a company to thrive, potential customers must be knowledgeable of the product or service it offers. If your business is unknown to potential customers and you have no relationship whatsoever with your customers then marketing techniques can help you build brand awareness for your product or service.
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