The Important Marketing Management

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

.