MARKETING

MANAGEMENT
-Pragati Pawar
2014507037
Introduction
Marketing management is the organizational discipline which
focuses on the practical application of marketing orientation,
techniques and methods inside enterprises and organizations
and on the management of a firm's marketing resources and
activities. Marketing management employs tools from economics
and competitive strategy to analyze the industry context in
which the firm operates. These include Porter's five forces,
analysis of strategic groups of competitors, value chain analysis
and others.[1] Depending on the industry, the regulatory context
may also be important to examine in detail.
Functions
Distribution
Distribution is about deciding how you'll get the goods or services you want to sell
to the people who want to buy them. Having an idea for a product is great, but if
you aren't able to get that product to the customers you aren't going to make
money. Distribution can be as easy as setting up shop in the part of a city where
your target customers are -- but in an increasingly interconnected world,
distribution more often than not now means that you'll need to take your products
or services to the customers.
Financing
It takes money to make money. As a business owner, an important function of
marketing a product is finding the money through investments, loans, or your
personal capital to finance the creation and advertising of your goods or services.
 Market Research
Market research is about gathering information concerning your
target customers. Who are the people you want to sell to? Why
should they buy from you as opposed to a rival business?
Answering these questions requires that you do some on-the-
ground observation of the market trends and competing products.
Pricing
Setting the correct price for your product or service can be a
challenge. If you price it too high, you might lose customers -- but
if you price it too low you might be robbing yourself of profits. The
"right" price normally comes through trial and error and doing
some market research.
Product and Service Management
Once you've determined the target market and set the price of
your product or service, the goal becomes to effectively manage
 Promotion
Most business owners are familiar with the idea of promotion.
Advertising your products and services is essential to attracting new
customers and keeping existing customers coming back. As the
marketplace changes, you'll want to respond appropriately by
tailoring your promotion messages to new media (such as Facebook
or Twitter), by sticking with more conventional outlets -- or by using
a mix of the old and new.
Selling
While we tend to think of selling and marketing as being closely
linked, selling is last on the list of the seven functions of marketing.
This is because selling can happen only after you've determined the
wants and needs of your customer base and are able to respond
with the right products at the right price point and time frame.
Sales Promotion
Sales promotion is the process of persuading a potential customer
to buy the product.Sales promotion is designed to be used as a
short-term tactic to boost sales it is not really designed to build
long-term customer loyalty.
When undertaking a sales promotion, there are several factors
that a business must take into account:
What does the promotion cost will the resulting sales
boost justify the investment?
Is the sales promotion consistent with the brand
image?A promotion that heavily discounts a product with a
premium price might do some long-term damage to a brand
Will the sales promotion attract customers who will
continue to buy the product ? Once the promotion ends, or
Methods of Sales
Promotion
Money off coupons customers receive coupons, or cut coupons out of
newspapers or a products packaging that enables them to buy the
product next time at a reduced price
Competitions buying the product will allow the customer to take part in
a chance to win a prize
Discount vouchers a voucher (like a money off coupon)
Free gifts a free product when buy another product
Point of sale materials e.g. posters, display stands ways of presenting
the product in its best way or show the customer that the product is
there.
Loyalty cards e.g. Nectar and Air Miles; where customers earn points for
buying certain goods or shopping at certain retailers that can later be
exchanged for money, goods or other offers
Advantages of sales promotion:
Effective at achieving a quick boost to sales
Encourages customers to trial a product or switch brands

Disadvantages of sales promotion:

Sales effect may only be short-term
Customers may come to expect or anticipate further promotions
May damage brand image
THANKYOU!