Marketing Management Objectives of Marketing Management

The American Association of Marketing define  Creating New Customers.

marketing management as the process of  Satisfying the Needs of Customers.
planning and executing the conception, pricing,  Enhancing the Profitability of Business.
promotion and distribution of ideas, goods and  Raising the standards of living People.
services in order to create, exchange and satisfy
 Determining the Marketing Mix.
individual and organizational objectives
(Grönroos, 1989). Steps in Marketing Management Process
 Setting the Marketing Objectives.
 Analyzing Marketing Opportunities.
Marketing concepts  Researching and selecting Targets
relate to the philosophy a business use to Markets.
identify and fulfill the needs of its customers,  Designing Marketing Strategies.
benefiting both the customer and the  Planning Marketing Programmes.
company. Same philosophy cannot result in a  Organizing, Implementing and
gain to every business, hence different
Controlling the Marketing Efforts.
businesses use different marketing concepts
(also called marketing management
philosophies).
Marketing Mix
 To collect and mix the resources of
The five marketing concepts are: marketing in the manner that objects of
the enterprise may be achieved and
1. Production concept
maximum satisfaction may be provided
2. Product
to the customers.
3. Selling concept
4. Marketing concept
 According to Stanton, “Marketing mix is
the term used to describe the
5. Societal marketing concept
combination of the four inputs which
The Seven P’s: constitute the core of companies
1. Product marketing system- the product the price
2. Price structure, the promotional activities and
3. Promotion the distribution system.”
4. Place
5. Packaging 4p’s In Marketing Mix
6. Positioning  Product
7. People  Place
Marketing objectives  Price
are goals set by a business when  Promotion
promoting its products or services to potential Extended/Augmented Service Mix:
consumers that should be achieved within a  People
given time frame. In other words  Physical Evidences
Marketing objectives  Process
are the marketing strategy set in order to
achieve the overall organizational objectives.
According to Cundiff and Still “3 types of
goals”
1. Satisfaction of Customer Needs
2. Increase in Sales Volume
3. Increase in Organizational Profit