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    Scope of Marketing Management 1

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    hysbeslem02
    Marketing management involves planning, organizing, and controlling various marketing activities including marketing research, determining objectives, planning activities, pricing products, and other areas of management. The key functions of marketing management are to conduct marketing research to understand customer needs, set objectives to maximize profits, plan marketing strategies and tactics, determine pricing based on costs and competitors, and promote and distribute products to customers. Marketing management also evaluates the effectiveness of its marketing plans and controls marketing activities.

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    Scope of Marketing Management 1

    Uploaded by

    hysbeslem02
    1K views9 pages
    Marketing management involves planning, organizing, and controlling various marketing activities including marketing research, determining objectives, planning activities, pricing products, and other areas of management. The key functions of marketing management are to conduct marketing research to understand customer needs, set objectives to maximize profits, plan marketing strategies and tactics, determine pricing based on costs and competitors, and promote and distribute products to customers. Marketing management also evaluates the effectiveness of its marketing plans and controls marketing activities.

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    Marketing management involves planning, organizing, and controlling various marketing activities including marketing research, determining objectives, planning activities, pricing products, and other areas of management. The key functions of marketing management are to conduct marketing research to understand customer needs, set objectives to maximize profits, plan marketing strategies and tactics, determine pricing based on costs and competitors, and promote and distribute products to customers. Marketing management also evaluates the effectiveness of its marketing plans and controls marketing activities.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1K views9 pages

    Scope of Marketing Management 1

    Uploaded by

    hysbeslem02
    Marketing management involves planning, organizing, and controlling various marketing activities including marketing research, determining objectives, planning activities, pricing products, and other areas of management. The key functions of marketing management are to conduct marketing research to understand customer needs, set objectives to maximize profits, plan marketing strategies and tactics, determine pricing based on costs and competitors, and promote and distribute products to customers. Marketing management also evaluates the effectiveness of its marketing plans and controls marketing activities.

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    What is Marketing Management – Scope:

    • Marketing Research,
    • Determination of Objectives,
    • Planning Marketing Activities,
    • Pricing of Product
    • Other areas of Management comprises
    of the function of planning, organizing,
    directing coordinating and controlling.
    1. MARKETING RESEARCH:

    Marketing research involves


    identification of needs, wants taste and
    preferences of the targeted customer.
    Marketing management conducts a
    continuous analysis of consumer’s behavior
    towards firm’s marketing mix strategies,
    business environment; competitor’s marketing
    strategies in order to plan effectively the
    marketing activities of future.
    2. DETERMINATION OF OBJECTIVES:

    Marketing management performs the task


    of setting marketing objectives. The marketing
    objectives are set in accordance with the overall
    organizational objectives of profit maximization.
    3. PLANNING MARKETING ACTIVITIES:

    Planning involves determining the


    future course of action. Planning helps in
    accomplishment of objectives in a systematic
    manner. Planning of marketing activities
    relates to determining product line strategies,
    planning for product diversification,
    advertisement and promotional activities,
    planning related to selling and distribution
    process.
    4. PRODUCT PLANNING AND DEVELOPMENT:

    Product is the basic element of


    marketing. Products are goods or services
    that are offered to the customer for satisfying
    their needs and wants. Products are customer
    oriented and offered to the customer’s as per
    their requirement and preferences. Product
    planning involves new product development,
    product innovation, product diversification
    plan.
    5. PRICING OF PRODUCT:

    Pricing is a complex function of marketing


    management. In most of the cases prices form
    the decision making criterion for purchase
    decision. Pricing decisions are based on cost of
    the manufacturing and distribution of product,
    competitor’s pricing strategies, customer’s
    willingness to pay for the product, customer’s
    perception about the product.
    6. PROMOTION:

    Promotion and advertisement are


    essential in order to maximize sales.
    Promotion and advertisement is essential to
    provide information to the customers about
    the product, to attract new customers, to
    provide reminder to customers about the
    product and to continue purchase, to provide
    information about product improvement or
    introduction of new brand. Marketing
    management develops new techniques and
    tools for promotion of their product.
    7. DISTRIBUTION:

    Distribution process facilitates easy


    availability of goods and services to the
    customers at right time and at right and
    convenient location. Selection of distribution
    channel depends upon the nature of the
    product, price of the product, availability of
    intermediaries for distribution and cost
    involved in the distribution process.
    8. EVALUATION AND CONTROLLING OF
    MARKETING ACTIVITIES:

    Marketing management performs the


    task of evaluation and controlling of the
    marketing activities. Evaluation enables
    identification of effectiveness of marketing
    plans and actions.

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