Marketing management

Marketing Management Meaning and definition Marketing management is a compound word 'marketing plus management’ . Marketing is the total system of business activities while management is the art of getting things done in a coordinated and harmonious way. ‘Management may be regarded as an art of getting things done through and with the people towards the attainment of the objectives of the firm. marketing management is a branch of total management and is concerned with direction of those activities toward the attainment of marketing goals, that is satisfaction of customers’ needs, increase in sales volume, and increase in organisation profits. all activities directed towards attainment of these marketing goals may be characteristics as marketing management. According to Philip Kotler, “Marketing management is a process of planning and executing the conception, pricing and promotion and distribution of goods , services and ideas to create exchange with target groups that satisfying customer and organisational objectives” . Objective of marketing management Creating new customer: The marketing manager should take all necessary steps such as advertising, sale promotion activities, etc., to attract new customers for buying the firm’s product. this will increase the sale . satisfying the needs if customers: The marketing manager should study the customer demand before offering them any product or services as the modern marketing begins and ends with the customers. Enhancing the profitability of the business: Since marketing department is the only department which generate revenue of the firm, the survival of the firm mainly depends on the efficiency of the marketing department to generate profit. Thus marketing management aims at enhancing the profitability of the through the sale of the products. Raising the standard of living of the people: Marketing facilitates the production of wide variety of goods and services for satisfying customers’ differentiated needs. It therefore help to raise the standard of living of the people Determining the marketing mix : Here marketing management aims at proper planning of marketing mix to meet the requirement of different kind of customer . Marketing mix refers to the combination of various elements such as product , price, promotion , and physical distribution. Marketing Departments 1) Research and Development : The company derive for successful new product is often thwarted(dissatisfied) by weak working relation between R&D and marketing. In many ways these groups have different cultures. R&D is staffed with scientists and technicians who pride themselves on scientific curiosity and detachment , like to work on challenging technical problems without much concern for immediate sales payoffs, and prefer to work without much supervision or accountability . the marketing sales department is staffed with business oriented people who pride themselves on a practical understanding of the marketplace, like to see many new products with sales features , and feels compelled to pay attention to product cost. 2) Purchasing: Purchasing executive are responsible for obtaining materials and components in the right quantities and quality at the lowest possible cost. They see marketing executives pushing for several models in a product line . Which require purchasing small quantities of many items rather than large quantity of few items. They think that marketing insists on too high a quality of ordered materials and components. 3)Manufacturing : Manufacturing people are responsible for the smooth running of the factory to produce the right products in the right quantities at the right time cost. they spent their lives in factory , with its attendant problem of machine breakdown , inventory stock - outs, and labour disputes. They see marketers as having little understanding of factory economics or politics .marketers complaint about sufficient capacity delay in production poor quality control and poor customer services. 4) Operation : The term manufacturing is used for industries marketing physical product. The term operation are used for industries that create and provide services. In the case of hotel, For example, the operation department includes front desk people doormen, and waiters and waitresses because marketing markes promises about services levels it is extremely important that marketing and operation work well together. If operation of personnel lake a customer orientation and motivation , negative word of mouth will eventually destroy the business. 5)Human Resource Management: Human resource management is an integrative general management that involves identifying the organisation demand for human resources with particular skills and abilities . As for he introduction to know about it . Once the new products or services are introduces , marketing has the responsibility to inform the HRM department punctually and sufficiently. 6)Accounting : Accounting activities help in preparation of sales report and development of effective marketing information system which tend to affect the overall performance of the organisation . Accountants see marketing people as lax in providing sales reports on time .THey dislikes the special deals of sales that salespeople make with customer because these require special accounting procedures . Marketers dislikes the way accountants allocate fixed cost burdens to different products in the line.