Marketing management: understanding, function, concept, and characteristics
Every entrepreneur must want the product to sell on the market so that it produces a profit. That’s a normal thing in the business world. Then how can your product be in demand by consumers? The key to success is that you have to market the product effectively and efficiently and on target by implementing marketing management that will be the main capital so that your product is searched and received by the buyer.
Definition of Marketing Management
Prof. Gather Sofjan Asauri, M.B.A., Professor of the Faculty of Economics, University of Indonesia, explained that marketing management is an activity of a analysis, planning, implementation, and controlling in a company management program. The programs are intended to create and maintain profits so that the company’s long-term goals can be achieved.
Simple, marketing is a series of processes (planning, analysis, and implementation) about marketing that produce marketing strategies so that a product can reach the buyer.
Marketing Management Function
After understanding the definition of marketing management, there are five marketing management functions such as the following discussion.
The distribution function is very important because it plays a role in introducing your product to the community. The hope is that people are interested and buy the product. Without that function, as good as any of your products becomes worthless if the community does not know your product.
SELL BUY (Trading)
Indeed, buying and selling functions are the nature of marketing management. The reason is because the company benefits from buying and selling products. Buy and Sell Functions provide benefits for producers and consumers. Advantages for companies in the form of profit from product commercial products. While the benefits for consumers can meet their needs.
Provision of facilities (facilitating)
This function is related to various aspects to achieve smooth production such as warehousing, communication, and self-sorting products.
The company must research about the products needed by the market. Thus the company knows the right marketing management to sell the product.
The processing function is to provide added value to a product so that the price is higher.
Marketing Management Concept
You must know and understand the core concept of marketing management to be able to interpret marketing functions properly. There are at least five marketing concepts like the following.
1. Production concept
This means that the product must be cheap, it can be made when and anywhere so that the sale runs smoothly.
2. Product concept
This concept is very concerned about product quality.
3. Sales concept
The concept of sales educates customers so that the company’s products are sold
4. Marketing concept
This concept emphasizes that products must meet consumer needs
5. Social Marketing Concept
This concept states that products can meet consumer needs and have a good impact on other communities and the environment.
Marketing management characteristics
Some people consider the same between marketing and sales. Even though both are clearly different. The scope of marketing is wider and dynamic than sales. Besides that sales are part of marketing. Caracterical marketing includes the following eight things.
- Focusing on consumer desires.
- Prioritizing customer satisfaction.
- Identify consumer needs, determine products, and sell products and get profits.
- Oriented to the external market.
- The main motivation is consumer needs.
- The market segment affects prices and prices determine costs.
- The main purpose of the company is consumers.
- Changing consumer needs to be a product.
After reading the description above, you must have understood the importance of marketing management or marketing for a company or business. The goal is of course so that the products produced in the market. In the end the company gets a profit, while consumers are fulfilled their needs. That is the proof of the success of implementing marketing in business, both in terms of producers and consumers benefit.
Another thing that needs to be considered in business is a matter of bookkeeping in your business. Good bookkeeping will make business financial management more closely monitored efficiently and planned. Unfortunately, there are still many companies or businesses that have just started a business not too much about the importance of bookkeeping to their company. This is a big mistake.
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