What Is Marketing Management?
Marketing Management is a leading marketing text because its content and
organization consistently reflect Changes in marketing theory and
practice.Marketing Management continues to reflect changes in the marketing
discipline over the years Passed nearly 50 years.Companies now sell goods and
services through a variety of direct and indirect channels. Mass ad-Ing is not
nearly as effective as before, so marketers are exploring new forms of
communication, such as Experiences, entertainment, and viral marketing. The
customer tells the company what kind of product.Or services they want and
when, where, and how they want to buy them. They are increasingly reporting
Other consumers what they think about certain companies and products---
using email, blogs, podcasts, and Other digital media to do so. Corporate
messages become a smaller part of the total "conversation"About products
and services.In response, companies have moved from managing product
portfolios to managing customers Portfolio, compile a database on individual
customers so they can understand it better and build on Individual offers and
messages.
They do less product and service standardization and more Niche and
customization. They replace monologues with customer dialogue. They're
improving Their method for measuring customer profitability and customer
lifetime value. They intend to measure Return on their marketing investment
and its impact on shareholder value. They are also concerned With the ethical
and social implications of their marketing decisions.
Marketing includes decisions such as who the company wants Its customers,
which needs must be met, what products and services to offer, what price to
charge, what Communications to send and receive, what distribution channels
to use, and what partnerships to develop. Marketing is successful only when all
departments work together to achieve a goal: when it is engineering design
The right product; finance provides the necessary funds; purchase buy highquality materials; production Tion of making high quality products on time; and
accounting measures the profitability of different customers,Products and regions.To cope with all these different changes, good marketers practice
holistic marketing. Holistic marketing Is the development, design, and
implementation of recognized marketing programs, processes, and activities
Identify the breadth and interdependence of the current marketing
environment. The four key holistic dimensions
Marketing is:
1. Internal marketing---ensures everyone in the organization adheres to
sound marketing principles,
Especially senior management.
2. Integrated marketing---ensure multiple ways to create, deliver, and
communicate value
Used and combined in the best way.
3. Relationship marketing---having a rich and varied relationship with
customers, channel members, and
Other marketing partners.
4. Performance marketing---understand the business return from
marketing activities and programs,
And addressing broader issues and their legal, ethical, social, and
environmental impacts
.
