Tips: What is Marketing Management

Tips: What is Marketing Management

Tips: What is Marketing Management

Most people think that marketing management is 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.

Modern marketing management

Demand management means customers 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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