You need to know everything about Marketing Management. Marketing Department carries out all strategic marketing activities.
Marketing management identifies market opportunities and sets out appropriate strategies to profitably explore those opportunities.
It has to implement marketing program and continuously evaluate marketing-mix effectiveness. It has to remove the flaws found in the actual implementation of marketing strategies, policies , and procedures. It looks after the enterprise marketing system.
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1. Formulating Suitable Marketing Organisation:
A suitable organizational framework is necessary to execute marketing strategy. Appropriate organization must be built on the basis of product type analysis, size of industry, regional market concentration and many other related factors. There are various alternative structures available, such as product organization, geographic organization, functional organization, organization of matrixes, etc. The appropriate structure should be prepared and modified according to needs, based on requirements.
2. Establishing and Maintaining Profitable Relations with Outside Parties:
External relations are also extremely necessary as is internal support. Marketers must establish and maintain healthy relations with various parties, such as suppliers , service providers, government agencies, dealers, consultants, and so on, in order to carry out marketing activities effectively. Marketing manager can’t carry out functions successfully without their support. Contemporary marketing strategies may be described as partnership marketing, owing to the essential role of interpersonal relationships.
3. Marketing Research Activities:
One of the key functions of modern marketing is marketing research. Marketing research involves systematic data collection , analysis, and interpretation on any marketing-related problem. It gives the manager valuable information about what marketing decisions can be made. Marketing research is vital if consumers and the market situation are to be adequately known. Satisfying consumers is a core function. Marketing efforts are based on information from the marketing research.
7. Sales Management:
Sales management is one of the significant marketing management functions. Sales management includes preparing, implementing , and managing sales activities. It carries out all tasks which are directly related to sales execution.
Sales department perform sales functions. Sales department formulates sales policies, ensures an adequate product quantity, maintains sales records, formulates sales department structures, manages sales force (salespeople) and controls sales efforts.
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