Danielle Joyce Salik CBET-19-502E

 Definition of Marketing management and Management.

 Management Terry, defines management as a process "consisting of
planning, organizing, actuating and controlling, performed to determine
and accomplish the objectives by the use of people and resources." Firstly
it considers management as a "process" i.e. a systematic way of doing
things.
 Management is a multi-purpose organ that manages a business and
manages managers and manages worker and work. Management
comprises planning, organizing, staffing, leading or directing, and
controlling an organization (a group of one or more people or entities) or
effort for the purpose of accomplishing a goal.Dec 3, 2008
 management can be defined as the process of achieving organizational
goals through planning, organizing, leading, and controlling the human,
physical, financial, and information resources of the organization in an
effective and efficient manner” (Bovée et al.
 Marketing Management Definition
Marketing is the process used to determine what products or
services may be of interest to customers and the strategy to use in sales,
communications and business development (Kotler et al. 1996). The
American Association of Marketing define marketing management as the
process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods and services in order to create, exchange and
satisfy individual and organisational objectives (Grönroos, 1989).
 Definition of marketing concept
 As said by Felton, “Modern marketing concept is a corporate state of
mind that insists on the integration and co-ordination of all marketing
functions which in turn are welded with the other corporate functions for
the basic objective of producing maximum long range corporate profits.”
 Features of marketing management.

1. Managerial Process:

Marketing management is a managerial process involving planning, organising,

decision making, forecasting, directing, coordinating and controlling. Stanley
Vance defines management as the process of decision making and controlling.
Every aspect of marketing, starting with identifying the consumer’s need and
wants, identifying the targeted customer, product planning, development, pricing,
promotion, distribution process requires planning, decision making, coordination
and controlling.
2. Consumer Centric:

All marketing activities are consumer centric. The consumers are the king.
Marketing activities are based on the premise of “make what the market wants”.
The principal objective of marketing is to create new customers and to retain
current customer. Marketing management performs the task of converting the
potential customers into actual customer.

This is possible through satisfaction of customer’s needs and wants by delivering

them, appropriate goods and services according to their needs and wants, at
right time and through convenient channel.

3. Research Analysis:

The basis function of marketing is identification of consumer’s needs and

wants .This requires continuous and systematic collection of data, analysis and
reporting of data relevant to marketing activities. This helps the management to
understand consumer’s needs, wants, preferences and behaviour of the
consumer towards firm’s marketing mix strategies. This helps in forecasting and
planning future course of action.

4. Planning and Development:

Marketing involves planning and development of goods and services.

Organizations make a continuous endeavour towards planning, development and
innovation of product and services so as to meet the changing demand, taste
and preferences of the consumers.

5. Building Marketing Framework:

Marketing activities are not just selling and distribution of ownership of goods and
services from the producer to the ultimate consumer. But it involves a series of
activities like research analysis, production, development and innovation,
advertisement and promotion pricing decision, selling and distribution, customer
relationship and after sales service.

All these functional areas of marketing must be effectively planned, organised

and built effectively to achieve best results. Marketing structure depends upon
the size of the enterprise, geographical coverage of the operation, number of
product lines, nature of product, size of customers.

6. Organizational Objectives:
 All marketing activities are based on overall organisational objectives. The
marketer bridges the gap between overall organisational objectives of achieving
high profit and maximization of sales and consumer’s interest of satisfying needs.

7. Promotional and Communication Process:

The ultimate objective of a firm is to maximise sales volume and profit. This can
be achieved through promotion and communication about the goods and
services. This function of marketing management enables the firm to provide
information about the product to the customers.

8. Controlling of Activities:

Marketing management performs the function of controlling of marketing

activities. Marketing management evaluates the effectiveness of marketing
activities, to judge the efficiency of marketing personnel and the plans. This
process involves measuring the actual performance with the standard and
identifying the deviations and taking corrective actions.

 Importance of marketing management

 Importance of marketing In simpler terms, Marketing Management is
important for any business, because: Understand the customer needs.
Improving the product and/or service to satisfy customer needs. Expand
the technique to reach potential customers.
 Function of Marketing Management

function of marketing management Marketing Objectives

Marketing management determines the marketing objectives. The marketing
objectives may be short term or long term and need a clear approach. They have
to be in coherence with the aims and objectives of the organization.

Planning
After objectively determining the marketing Objectives, the important function of
the marketing Management is to plan how to achieve those objectives. This
includes sales forecast, marketing programmes formulation, marketing
strategies.

Organization
A plan once formulated needs implementation. Organizing functions of marketing
management involves the collection and coordination of required means to
implement a plan and to achieved pre determined objectives. The organization
involves structure of marketing organization, duties, responsibilities and powers
of various members of the marketing organization.
Coordination
Coordination refers to harmonious adjustment of the activities of the marketing
organization. It involves coordination among various activities such as sales
forecasting, product planning, product development, transportation, warehousing
etc.

Direction
Direction in marketing management refers to development of new markets,
leadership of employees, motivation, inspiration, guiding and supervision of the
employees.

Control
Control refers to the effectiveness with which a marketing plan is implemented. It
involves the determination of standards, evaluation of actual performance,
adoption of corrective measures.

Staffing
Employment of right and able employees is very crucial to success of a market
plan. The market manager coordinates with the Human Resource Manager of an
organization to be able to hire the staff with desired capability.

Analysis and Evaluation

The marketing management involves the analysis and evaluation of the
productivity and performs mace of individual employees.

Conclusion
Marketing Management has the responsibility of to perform many functions in the
field of marketing such as planning, organizing, directing, motivating,
coordinating and controlling. All these function aim to achiven the marketing
goals.
  Process of Marketing Management

Ideas: Source, prioritize and implement new ideas for optimizing the marketing mix that
will have the biggest impact on customer value and business growth.
Work: Manage projects that alter the marketing mix either directly within the marketing
department or indirectly through other company functions and industry players.
Results: Deliver marketing results that increase customer value and drive business
growth. Monitor results through a variety of marketing metrics and feed that information
back into the idea mill to start the process all over again.

 Scope of Marketing Management

(1) Products and Services:

Products and Service are the basic element of marketing. If there is no product
there is no marketing. It is concerned with the nature and type of products,
product quality and design, product planning and development, product decisions
relating to branding, labelling, packaging, trademarks etc.
(2) Marketing Research:

Though products and services were the starting point under traditional marketing,
modern marketing starts with an analysis of the various aspects of market and
related areas. It includes an analysis of nature and types of customers, size of
market, customer attitude, buyer behaviour etc. An in-depth analysis of
customers and markets is a prerequisite for every marketer to have a successful
marketing.

(3) Channel of Distribution:

The pathway through which the goods move from producer to consumer is the
channel of distribution. It includes a number of intermediaries like wholesaler,
retailers, jobbers etc. Channels by moving the goods help in transferring the
ownership of goods from seller to buyer
(4) Physical Distribution:

The physical movement of the goods from producer to consumer is physical

distribution. It includes transportation, warehousing, inventory control and
management, order processing etc.

(5) Promotional Decisions:

Howsoever good a product is, it has no value if it is not properly promoted.

Promotion has the basic objective of informing the market about product
availability and creating a demand for it. Different promotional tools are there like
advertising, sales promotion, personal selling, publicity, public relations etc.
(6) Pricing Decisions:

This is the only element of marketing which generates revenue for the firm.
Pricing is concerned with pricing policies and strategies, price determination,
discounts, commissions etc.

(7) Environmental Analysis:

An analysis of the environment in which the business is to be carried out is the

first step for any organisation. The various macro and micro factors should be
studied beforehand only to develop an understanding of the strength,
weaknesses, opportunities and threats, for an organisation.