What is marketing management? Let’s know more and complete

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What is marketing management? Let’s know more and complete

What is marketing management Lets know more and complete

Marketing Management or Marketing Management is a type of management that is needed for all businesses. Because this determines the products / services can be known to consumers or vice versa. Therefore, the company must know the complete discourse regarding this marketing management.

On that basis, in the following article it will be explained completely about marketing management. Reviews are related to understanding, function and management concepts. Whereas at the end will be reviewed about the characteristics of management.

Definition of Marketing Management

In general marketing management is planning, action, supervision and evaluation activities related to the process of introducing products / services to vast audiences or consumers.

While the purpose of this management is so that many people know the product. It is hoped that they are interested in buying the product. If this happens, it means that marketing management is made well successful.

Seeing the meaning above, if there is no good management, it means that marketing activities will also not be maximal. Because companies cannot possibly sell one product if there are no consumers who know about the products to be sold.

Understanding of marketing management according to experts

In addition to the general view above, it turns out experts also have a different understanding of marketing management. Here are some of them:

1. Buchari Alma.

According to Buchari Alma Marketing Management is planning activities, directing and overseeing all company product marketing activities. Usually this management is run by work units in the marketing section.

2. Philip Kotler.

According to Philip Kotler Marketing Management is an activity of analyzing planning related to the actualization and control of a planned program to produce good exchanges in a targeted market. The aim is nothing but profit or profit.

Marketing management involves:

1. Setting goals and marketing targets,

2. Develop a marketing plan,

3. Set marketing functions,

4. Implement a marketing plan into action and

5. Control the marketing program.

Marketing management is a science and art. Those responsible for marketing must have a good understanding of various concepts and practices in marketing, communication, and analytical skills and the ability to maintain effective relationships with customers, which will enable them to plan and implement marketing plans.

Continuous practice in the field of sales, sales promotion, advertising, etc. Will allow them to become an artist. The scientific and artistic aspects of marketing will affect each other, which leads to a new generation of marketing managers.

Marketing Management Concept

If you have a business, producers must start their duties with consumer focus, and you have to study consumers and understand needs, desires, requirements and convenience. Manufacturers must design new products or improve existing ones with strict considering needs, desires, etc. From consumers. Products must satisfy consumers.

Therefore, producers must design and produce products that will be accepted by consumers than products that can be easily produced. A consumer is basically fussy and plin-plan. This makes the task of understanding consumers and designing the right products is far more difficult, but this is the only way manufacturer can succeed in a competitive market.

Sales must be preceded by customer study, marketing research, and product development. The whole focus must be on consumers and needs.

“There will always be, it can be assumed, it is needed for several sales. But marketing goals are to make sales better than time to time. Marketing objectives are to know and understand consumers well so that the product or service is suitable for him and sells himself. Ideally marketing must produce customers who are ready to buy. Then what is needed is to make available products or services “- Peter Drucker.

This concept is also called customer orientation.

The marketing concept which is also called the concept of modern marketing as practiced by most companies in the current situation is actually a combination of all other concepts. Modern marketing concepts consist of integrated efforts from marketers to identify the needs of consumers and satisfy them through products designed correctly and for this task using all marketing techniques related to products, sales, market studies, consumer behavior, product design, prices etc.

“The modern marketing concept is the condition of the company’s mind that emphasizes the integration and coordination of all marketing functions which in turn welded with other company functions for basic purposes generate maximum long-term corporate profits.” -Felton.

The following are features of the concept of marketing (modern marketing concepts, integrated marketing concepts, customer orientation):

Focus on customer requirements

Consumer needs are studied and this is the basis of all products related activities such as design, price, distribution, packaging etc.

Provide customer satisfaction

Each organization aims to provide maximum customer satisfaction by understanding their needs and designing appropriate products. The success of an organization is directly related to the customer satisfaction he gives.

Integrated Marketing Management

Marketing management is only part of the total managerial function of organizations such as financial management, production management, human resource management, etc. All of these functions are integrated to provide maximum satisfaction to consumers. Thus all functional areas are integrated organizations.

Achieve organizational goals

Modern marketing states that organizations must aim to maximize customer satisfaction and in the process allow them to achieve its goals such as growth, market share and reasonable amount of profit or return on investment.

Innovation

Innovation is an important tool for providing customer satisfaction. Innovative methods must be used to understand consumers, design appropriate products and offer it to consumers.

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Characteristics of Marketing Management

1. Managerial process

Marketing management is a managerial process involving planning, organizing, decision making, forecasting, direction, coordination and control. Stanley Vance defines management as a decision-making process and control. Every marketing aspect, starting by identifying consumer needs and desires, identifying targeted customers, product planning, development, pricing, promotion, distribution processes require planning, decision-making, coordination, and control.

2. Credit-centric

All marketing activities are consumers. Consumers are kings. Marketing activities are based on the premise “make what the market wants”. The main purpose of marketing is to create new customers and retain customers today. Marketing management does the task of changing potential customers into actual customers.

This is possible through the customer’s satisfaction and desires by sending it, items and services that are appropriate according to their needs and desires, at the right time and through convenient channels.

3. Analysis of research

Basic marketing function is identification of consumer needs and desires. This requires continuous and systematic data collection, analysis, and data reporting relevant to marketing activities. This helps management to understand needs, desires, preferences and consumer behavior towards the company’s marketing mix strategy. This helps in forecasting and planning actions in the future.

4. Planning and Development

Marketing involves planning and development of goods and services. Organizations make continuous efforts on product planning, development, and innovation services to meet demand, tastes, and consumer preferences that are constantly changing.

5. Build a marketing frame

Marketing activities not only sell and distribute ownership of goods and services from producers to end consumers. But it involves a series of activities such as analysis of research, production, development and innovation, decision to determine advertising and promotion, sales and distribution, customer relations and after-sales services.

All of these marketing functional fields must be planned, organized, and effectively built to achieve the best results. The marketing structure depends on the size of the company, geographical coverage of operations, the number of product lines, product properties, customer size.

6. Organizational goals

All marketing activities are based on the original organizational goals. Marketers bridge the gap between the overall objectives of the organization to achieve high profit and maximize sales and interest of consumers will be satisfactory needs.

7. Promotions and communication processes

The company’s main purpose is to maximize sales and profit volume. This can be achieved through promotion and communication about goods and services. This marketing management function allows companies to provide information about products to customers.

8. Control of activity

Marketing management performs the function of controlling marketing activities. Marketing management evaluates the effectiveness of marketing activities, to assess the efficiency of marketing and plan power. This process involves measuring actual performance with standards and identifying irregularities and taking corrective action.

Scope of Marketing Management

1. Marketing research

Marketing research involves identifying needs, tastes and customer preferences. Marketing management continues to carry out consumer behavior towards marketing mix strategies, business environment; Competitor marketing strategies to effectively plan marketing activities in the future.

2. Determination of destination

Marketing management does the task set marketing goals. Marketing objectives are determined according to the overall objectives of the organization to maximize profits. Marketing goals relating to attracting new customers, current customer retention, expansion of customer base, new product introduction, an increase in old products and so on. Marketing management aims to maximize customer value by providing high satisfaction to customers.

3. Planning marketing activities

Planning involves determining the direction of future action. Planning helps in achieving systematic goals. Planning marketing activities relating to determining product lines strategies, product diversification planning, advertising and promotion activities, planning related to the sales and distribution process.

Planning can be done in the short term, medium and long term depending on the requirements. Plans must be flexible so they can adjust to changing business environments.

4. Product planning and development

Products are basic marketing elements. Products are goods or services offered to customers to satisfy their needs and desires. Products oriented to customers and are offered to customers according to their needs and preferences. Product planning involves developing new products, product innovation, product diversification plans.

5. Product prices

Price is a complex function of marketing management. In most cases, prices form decision-making criteria for purchasing decisions. Pricing decisions are based on the cost of making and product distribution, competitor price determination strategies, customer willingness to pay for products, customer perceptions about the product.

6. Promotion

Promotions and advertising are very important to maximize sales. Promotions and advertisements are very important to provide information to customers about products, to attract new customers, to provide reminders to customers about products and to continue purchases, to provide information about increasing products or recognition of new brands. Marketing management develops new techniques and tools for their product promotion.

7. Distribution

The distribution process makes it easy for the availability of goods and services to customers at the right time and in the right and convenient location. Distribution channels depend on product properties, product prices, availability of intermediaries for distribution and costs involved in the distribution process.

8. Evaluation and Control of Marketing Activities

Marketing management conducts evaluation assignments and controls marketing activities. Evaluation allows identification of effectiveness of plans and marketing measures.

Marketing Management Process

1. The managerial marketing process begins with the determination of the mission and the purpose of the entire company and then determines the marketing goals to be achieved.

2. Evaluate the capability of companies based on our strengths and weaknesses.

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3. Determine marketing opportunities that must be capitalized. You must identify and evaluate the needs and desires of customers who are not satisfied and potential. Market segmentation will allow us to choose target markets where we can focus your efforts. Marketing opportunities are influenced by the marketing environment, competition, government policy, mass media, consumerism, public opinion, distribution structure, etc.

4. After the company has complete information about marketing opportunities, they can form a marketing strategy in the form of a dynamic action-oriented plan to achieve missions, targets, and targets. Strategy is a pattern of objectives and policies, planned actions in pursuing goals stated clearly in the face of limited resources, and intelligent competition.

Marketing strategies show levels, mixes, and allocation of marketing efforts in marketing action plans. The company has the right marketing mix for each target market. Marketing mix is ​​expected to sell more than competitors.

5. Marketing action plans or programs must be carried out through proper communication, coordination and motivation of marketing personnel.

6. Performance according to the plan guaranteed by effective marketing control. Effective control system is very important for measuring and evaluating the actual results of marketing strategies. The results are evaluated against the targets we want. Evaluation feedback allows marketing management to revise, adopt, or modify goals and objectives and re-plan based on evaluation feedback.

7. The marketing process is ongoing or dynamic and must adjust to the changing environmental needs.

Notes:

1. Marketing program starts from the concept of products and does not end until the customer’s desire is fulfilled.

2. Profitable sales in the long term and repetitive purchases by customers are very important for success in marketing.

3. Marketing research and information services for marketing themselves can act as an effective tool in all marketing management decisions

4. Marketing Policy includes marketing analysis and research, product analysis, marketing channels, sales, promotions and sales advertising, price competition and non-price.

The importance of marketing management

1. Analyze market opportunities

Marketing management collects and analyzes information relating to consumer needs, desires and demand, competing marketing strategies, changes in trends and market preferences. This helps identify market opportunities.

2. Determination of the target market

Marketing management helps identify the target market that the organization wants to offer its products.

3. Planning and Decision Making

Marketing management helps prepare for future actions. Planning is related to product introduction, diversification. Decision making about prices, promotional mix selection, distribution channel selection is taken by marketing management.

4. Customer acquisition

Consumers determine the future of the market. Therefore it provides the best products to consumers according to their preferences are important marketing tasks. Marketing management helps in creating new customers and retains customers today.

5. Helps increase profits

Marketing serves consumer needs that are varying and unlimited. Marketing management helps increase profit and sales volume. This is achieved by market expansion and increased customers.

6. Improved quality of life

Marketing management aims to provide innovative products and services to customers. Marketers continue to strive to combine new technology and mechanisms in their products to provide more satisfaction to customers than before. This improves quality of life and makes consumer life easier than before.

7. Job opportunities

The marketing process is a combination of various activities such as research work to assess the marketing environment, product planning and development, promotion, product distribution to customers and after-sales services. The marketing process requires researchers, production engineers, intermediaries of different distribution, salespeople also create employment opportunities in the ad section. Thus marketing management opens different work roads so that it creates employment opportunities.

Conclusion

Good marketing management will determine the success of your business in the future. With an optimal marketing process, it will be ascertained you will get maximum profits on the business and members of the organization in it.

The thing you need to pay attention to whether good marketing management is starting from analysis, planning, heating, and controlling all your plans. If all you have done it right, congratulations, your business will develop better than you expect.

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