Marketing Management:-Meaning and definition explained in detail

What is marketing management?

Marketing management has direct responsibility to check out where the company's product and services lacking to serve their consumers and to vigorously work on programs to explicitly reach the satisfaction level of all customers. Now-a-days marketing management is more customer oriented than product/corporation oriented,but than product/corporation oriented, but ultimately it benefits the corporation.

Definition

Marketing management is the process of planning and executing the conception,pricing,promotion,and distribution of ideas,goods,and services to create exchange that satisfy individual and organizational goals.

Further explaining the definition, we can see that marketing management includes analysis,planning,implementation and control over goods,services and ideas. Marketing management process is based on the concept of exchange.

The goal of such a process is to provide satisfaction to everyone involved in the process including company, customers, suppliers and channel members.

What is the role of marketing manager in the process of marketing management?

His job in the process is to find prospects and to influence them to buy his products. In addition to influencing the demand for his products, he undertakes various different activities. He has to influencing the the level, timing and composition of demand to help his organization achieve his goals.

Marketing management philosophies:-

You understand that what marketing managers do to achieve desired exchange outcomes with target markets for their sustenance. As a practicing manager, you should know which philosophy will guide you to perform outstanding as a marketing manager.

You should also know how to look at your own interest, the interest in your firm, customers and the society where you work. But, you should bear in mind that there could be conflicts in the interests of the parties concerned.

In carrying out marketing activities, a marketing manager must be well aware about all the alternative philosophies.

Thereafter, he can select one based on his goal and the nature of the market that he serves.

The 5 alternative marketing management philosophies are mentioned below:-

1) production concept,

2) product concept,

3) selling concept, 

4) marketing concept, and

5) societal marketing concept

 To get detailed information about all the philosophies click here:-Marketing management philosophies

Marketing management tasks:-

1) Developing marketing insights

2) Capturing marketing insights

3) Connecting with customers

4) Building strong brands

5) Shaping market offerings

6) Delivering value

7) Communicating value

8) Creating long term growth

In Non-Profit sector:- 

Numerous private and public non profit organizations during the 1970s introduced marketing in their operations for the first time.

Non profit private organization, side by side public, non profit organizations, ventured into the marketing field including:-

- advocates of social causes (equal right groups, environmental groups, peace groups and consumerism group);

- religious services;

- cultural organizations (museums, theatrical groups); educational groups (private schools, colleges and universities); and

- philanthropic groups (foundations, charity hospitals and private welfare groups).

They now have marketing departments (often called outreach team/department) engaged in researching and developing outstanding ads to attract customers. 

Various factors were responsible for these developments, including the gradual recognition that every organization can benefit by applying effective marketing principles.

To know more click here:-Further details about marketing management