Marketing Management is one of the most important aspects of any business. The management of the marketing aspect is a very important part of overall business management. Marketing (marketing) is the process by which a firm establishes its market position in the existing competition. Marketing management therefore is the technical creative management role that promotes employment and trade by evaluating consumer demands and initiates innovative research to address them. As such marketing management is essentially the strategic area of business management that deals primarily with the issues of consumers satisfaction
Marketing activities are multi-faceted and require skilled people to perform the various tasks involved. It, therefore, becomes even more important than the management of marketing is skillful. Thus it becomes necessary to understand the characteristics of marketing management that can help in the determination of an effective manager. This article provides some important characteristics of marketing management that need to be understood in order to develop an effective manager
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Marketing management may have the ability to design and produce advertisements. Designing advertisements is the ability to select the most persuasive images that will build brand awareness. Advertisements are usually produced for mass distribution and thus have to be produced in a manner that will not offend or repress the views of the target group. Thus it is very important that a marketing concept has well-defined and rational goals, objectives, and control mechanisms.
Marketing research is another characteristic of this area that has to be understood by Best Affordable Products. Marketing research is concerned with collecting and interpreting data to support the objectives of a marketing concept. Surveys conducted on customers are one of the primary tools of marketing research. The aim of such a study is to obtain information that helps managers determine the nature, location, sales, and distribution of the goods and services that are produced or offered by the firm. Such information is needed for the development of improved products or services, and for expansion of existing operations.
Advertising is a necessary feature of a marketing manager. It is actually the most essential characteristic of marketing management because advertising enables firms to identify their target consumers. Without advertising, firms would not be able to get to know the preferences of consumers. In this way, advertising becomes an essential characteristic of marketing management. Advertising can be either direct or indirect.
Direct marketing management, as the name implies, is done directly to the customers. For example, a manufacturer produces a consumer product and sets out to market it to a specific target market. Alternatively, the marketing management can be done to a large segment of the population. For example, during the holiday season when people are looking for gifts for their friends, they usually shop at stores that cater to the needs of their friends.
Marketing management is also an important function of management in other contexts as well. For example, managers dealing with public service institutions, teachers, nurses, etc. tend to have a broad understanding of the discipline and are familiar with several different aspects of it.
An additional important function of marketing management in all these contexts is customer satisfaction. For example, the success of a firm is highly dependent upon how satisfied its customers are. A manager who fails to satisfy his or her customers is like a car with no engine. If customers do not buy the product, it will not be able to survive. A manager has to be very aware of the customer satisfaction, both as regards the satisfaction of him as the firm’s leader and as regards satisfying individual customers.
It is a basic requirement for marketing management to come up with fresh ideas. In fact, a marketer must be careful to avoid getting old ideas clumped together under one head. This means that if a marketer sees an existing practice or set up in his firm and wants to change it, he should be prepared to think outside the box in order to find the solution. It is a basic requirement of marketing management to come up with fresh ideas.
The final characteristic of marketing concerns sales. Salesmanship, in simple terms, involves an effort to make more sales. It is a basic requirement of a business concern that its salesmen are successful in their work. Without a high number of sales, a business concern will not be able to survive.