Marketing refers to the process of communicating, creating and delivering the organizational function to their valuable clients. You know Marketing is the soul of the company’s success. A company need to effectively communicate the value and features of their products to customers, unless they may fail to reach their target. Marketing management must take care this critical function.
Marketing management is the organizational discipline, planning, implementation, analysis and control of programs which design to reach on the target markets by applying marketing orientation, techniques and methods.
It is really important to design the organizations offering in terms of the target markets needs and desires and using workable pricing, communication, and distribution to inform, motivate and service the market. So, we can say that Marketing management is concerned with the checking out of a given program, after careful analysis and predict the market situations and the ultimate accomplishment of these plans to achieve the goal of the organization.
Moreover, their sales plan to a greater range rest upon the requirements and desire of the consumers in the market. To gain this goal, the organization has to pay notice to the right pricing, effective advertising and sales promotion, distribution and stimulating the consumers through the best services.
In short word, marketing management may be the process of management the marketing strategy for achieving the organizational goals and objectives.
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Importance of Marketing Management
Marketing management has become the most important function in a commercial and business enterprise and also has more influence over the buyer than ever before. Marketing management has obtained importance to meet and developing competition level and the necessity for improved methods of distribution and also help to minimize cost and to maximize profits. Let’ discuss the importance of marketing management in today’s world:
Where Marketing Mgt Helps?
I know you will agree with me that, the Marketing strategy is helpful to both producers and consumers in transferring, exchanging, and movement of goods. Marketing includes the design of the products and goods and helps to make acceptable to the consumers and dealing with those activities which simplify the changing of ownership between seller and buyer.
Marketing Creates Employment
This enlarged nature of marketing has made numerous employment opportunities for people. An analytics says that about 40% of total population is directly or indirectly connected along with marketing. In the modern age of large-scale production and industrialization, the role of marketing has expanded day by day.
Increase the Source of Income and Revenue
Marketing strategy is providing many opportunities and scope to earn profits in the process of buying and selling the stuff and products, by creating time, place and possession utilities. The execution of marketing activities is all important because it is the only way through which the concern could generate revenue or income and bring in profits.
Nothing will happen in any state until somebody sells something in the market. Marketing is the kingpin that sets the economy rolling. The marketing organization, more scientifically organized, makes the economy strong and stable by providing the source of New Ideas to increase the economy. And day by day the importance of marketing management is increasing.