MARKETING MANAGEMENT
WHAT IS MARKETING Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. As per Philip Kottler.
LET'S LOOK AT THE DEFINITION OF MARKETING Marketing management is a process of controlling the marketing aspects, setting the goals of a company, organizing the plans step -by - step, decision -making on behalf of the firm, and executing them to get the maximum turn over by meeting the consumers’ demands
Goal
Manufacture
Retailer
Profit
There are 5 marketing concepts that organizations adopt and execute.
1. Production concept
MARKETING CONCEPT
2. Product concept
3. Selling concept 4. Marketing concept,
5. Societal marketing concept
PRODUCTION CONCEPT The production concept is a subset of the marketing concept. The production concept is a marketing philosophy where your business focuses on producing more goods in such a way to drive prices down. The idea is that the more your products are available and affordable, the more people will buy your goods
PRODUCT CONCEPT Product concept is the understanding of the dynamics of the product in order to showcase the best qualities and maximum features of the product. Marketers spend a lot of time and research in order to target their attended audience.
SELLING CONCEPT
The Selling Concept proposes that customers, be individual or organizations will not buy enough of the organization's products unless they are persuaded to do so through selling effort. So organizations should undertake selling and promotion of their products for marketing success.
MARKETING CONCEPT The Marketing Concept is preoccupied with the idea of satisfying the needs of the customer by means of the product as a solution to the customer's problem (needs). The Marketing Concept represents the major change in today's company orientation that provides the foundation to achieve competitive advantage.
SOCIETAL MARKETING CONCEPT Social marketing is an approach used to develop activities aimed at changing or maintaining people's behaviour for the benefit of individuals and society as a whole.
SOCIETAL MARKETING CONCEPT Social marketing is an approach used to develop activities aimed at changing or maintaining people's behaviour for the benefit of individuals and society as a whole.
A sound strategic Managerial Process
Is concentratedly Consumer Centric
Required the element of market Research and Analysis
Requires careful planning and product development
MARKETING INVOLVES
DECISION MAKING
Assessing theMarketing Opportunities
Planning the Marketing Activities
FUNCTIONS OF MARKETING MANAGEMENT
Organizing the Marketing Activities
Co-Ordinating Different Activities
Evaluating and Controlling Marketing Efforts
PROCESS OF MARKETING Market Analysis
Marketing Planning
Segmentation
Targeting
Implementation
Controlling and continuous assessment
MARKETING IS MADE UP OF
Marketing mix and activities
Market segmentation
Product planning and development
Promotional mix
KEY MARKETING ACTIVITIES
THANK YOU Shaldene Lisa Moore
Get that marketing vibe on !!!