Tips: What is Marketing Management

Most people think that marketing management a search for the number of consumers sufficient for the company or the agency to work well, be able to pay salaries for its employees and get good profits as well. But does a company or an agency like Adrenaline Studios which has a very good base of clients need marketing management? Of course, it does. It makes the work more efficient.

Marketing management – the philosophy of managing a company on the principles of marketing. Marketing management as a function should be considered not only in conjunction with the tasks within the marketing process but also with the tasks of managing people and the team responsible for achieving the goals of the enterprise. Marketing management involves the targeted coordination and formation of all activities of the company, at the market level and at the level of society as a whole.

The purpose of marketing management is the formation of a complex of long-term and short-term (operational) managerial influences, decisions in the field of marketing for all departments and persons interacting in the field of marketing. The concept of marketing management is defined as a system of basic ideas, tools and analysis of entrepreneurial activity and the environment, the formation of strategies and control.

The main elements of the concept of marketing management:

  • marketing planning;
  • organization of the marketing process,
  • coordination of various departments for marketing purposes;
  • activity control and audit;
  • stimulation of all departments of the enterprise.

Marketing Management Tasks in Digital Agency London

  • development of promising and tactical marketing policies of the enterprise;
  • organization of marketing program management;
  • organization of labor-management;
  • organization of relationship management in the field of marketing.

Marketing management – a set of principles, methods, tools, and forms of marketing management in order to intensify the process of formation and reproduction of demand for goods and services, increase profits.

Thus, the marketing management process consists of the steps:

  • analysis of market opportunities;
  • selection of target markets;
  • development of a marketing mix;
  • implementation of marketing activities.

Managerial influences in the marketing management system can be directed to objects, processes, and functions.
The impact of marketing management: buyer, manufacturer, product, intermediary, competitor.
Processes affected by marketing management: formation of company policies (financial, investment, trading, commodity); forming relationships (with suppliers, customers, intermediaries); the process of developing, creating a product, etc.
Functions affected by marketing management: planning; control; control and accounting; analysis.

Current priorities of marketing management:

  • from marketing in the marketing department to marketing throughout the organization;
  • from the organization by commodity units to a customer-oriented company structure;
  • outsourcing and intercompany interaction;
  • a variety of forms of intercompany interaction: strategic groups, alliances, network companies, partnerships;
  • from maintaining old market positions to finding new ones;
  • from orientation to tangible assets to the accumulation of intangible assets;
  • acceleration of the process of presentation and sale of goods through online trading;
  • from financial indicators to marketing estimates.

Modern marketing management

Demand management means customer management. The demand for the company’s products comes from two groups of consumers: new and regular clients. The theory and practice of traditional marketing have focused on attracting new customers and selling their products and services to them. Today, the situation has changed. Modern marketing is aimed not only at attracting new people but also at maintaining good relationships with existing customers.

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Therefore, marketing management includes the following activities:

  • Market opportunity analysis;
  • Marketing research;
  • Marketing environment research;
  • Work with individual consumer markets;
  • Work with enterprise markets;
  • Selection of target markets;
  • Determination of demand;
  • Market segmentation;
  • The positioning of the product on the market;
  • Development of marketing in the complex;
  • Product development;
  • Determining the price of goods;
  • Product distribution methods
  • Promotion of products and services;
  • Marketing activities;
  • Planning and control of marketing activities.

Two levels of marketing management

There are two levels of it: strategic marketing and tactical marketing.

Strategic Marketing

It is the long-term coordination of the company’s capabilities with the market current situation, coordinating the internal and external environments of the company. This marketing strategy is often confused with the company’s business development goals. However, unlike goals, it is a plan for achieving these goals, which should reflect all elements of marketing, financial resources, and production capabilities. The most common strategies of this marketing are:

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  • The improvement of the organizational structure of the company;
  • The organization of the process of new products penetration on the market;
  • The development and introduction to the market of a new product;
  • Active cooperation with the companies that have a successful experience in the market that is an interest to your agency or a company.

Tactical Marketing

It is focused on the formation of market demand for existing products and services of the company. The possible ways to organize and realize marketing activities at this level of management may be the following ones:

  • The study of markets in order to generate demand and sales promotion;
  • The detailed analysis of goods in order to maximize the satisfaction of market requirements;
  • The direct contact with consumers;
  • Hiring of the hew good specialists and training them;
  • Active participation in exhibitions;
  • Diversification of the goods produced;
  • Creating and improving the efficiency of the service;
  • Adaptation of the products to the specific requirements of the buyer;
  • Different promotional activities;
  • Professional price management.

When improving the organization of marketing management, it is advisable to consider the basic laws of the rebuilding of organizational structures which the most successful companies use. The world practice suggests that it is good to start this work by strengthening the role of the sales department and expanding the number of functions performed by their employees. Sales departments, in addition to the sales of products and services, may also engage in the promotion of goods and individual marketing research.

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