Essay About Marketing ManagementEssay on Marketing Management - Essays, Research Papers and ...
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Essay About Marketing Management
But it is felt that the factors of high technology, rigid product-quality standards, and the future generation of skilled craftsmen and technicians having cost consciousness will greatly contribute to the attainment of consumer satisfaction with the advent of twenty-first century. The future development of business firm in the background of these environmental factors largely depends on the importance and seriousness attached to the marketing functions. Selling the goods or services is not that important as the satisfaction of the customers needs is.
It is one function of the equation of exchange. The environment within which the marketing organisation functions is frequently changing on account of changes in technology, economy, etc. Goodwill, as we know, is nothing but profits enjoyed by firm or organisation due to its reputation.
Brech, marketing is the process of determining consumer demand for a product or service, motivating its sales, and distributing it into ultimate consumption at a profit. According to the social scientists, marketing possesses the potentialities of furthering population control dictum, secular ideas, anti-pollution drive and brotherhood among citizens of all castes, creed, and languages. These are external to and beyond the control of the firm, but which the marketing management of a firm may seek to influence to its advantage through, research and promotional activities.
Marketing activities may be organised product-wise, area-wise or customer-wise according to specific requirements. It is believed that this approach helps in increasing the profitability of the firm through betterment of the markets and marketing institutions (like wholesalers, retailers, etc. The approach does not take care of the less-profitable products which may have problems of the same type.
The concepts on marketing have undergone significant changes as we witness in the real world. Increased production of goods and services leads to higher national income. It may be regarded as the initial beginning of the concept and approach of marketing in the evolution process.
This way, it leads to production of socially useful goods and services. As marketing conditions are dynamic and they affect industry in any way and to any degree, marketers are interested in knowing trends in market demand, supply, prices and related market information. In this essay we will discuss about marketing management. It has a universality in the sense that it can be applied to both profit-motive and non-profit motive organisations. That is why, the approach of modern marketing is consumer-oriented, instead of solely product-oriented.
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Find paragraphs, long and short essays on 'Marketing' especially written for ... “ Marketing is the primary management function which organises and directs the ...
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Essay About Marketing Management Research and planning activities form the basis of effective distribution particularly in mass markets. In a formal exchange, buyer has to negotiate terms of purchase and enter into a contract of purchase. The traditional concept of marketing explained above refers to the physical activities involved in the process of distribution of goods. Resources of men, money, materials and management are employed in the marketing system to perform marketing functions in order to satisfy customer demand (the purpose of marketing). Active participation in the product planning and development to establish best correlation between the product attributes and customer demands. They view that different problems and opportunities call for different treatments and organisational structures.
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The marketing function generates revenue for the business. This approach, thus, aims at consumer satisfaction by means of production of the right kind and quality of products, in the right qualities, at the right price and in the right market, the matching of products and services with the markets and consumers becomes the motto of the consumer-oriented approach to marketing. Hence, more emphasis is given to research and innovation. According to barwell, marketing consists of identifying, anticipating and satisfying customer needs and desires. But, its modern concept is more than a mere physical process.
The marketing management which is in charge of planning, directing and controlling the marketing of goods and accomplish the primary marketing objective, viz satisfaction of market demand. All the basic activities of a business organisation like production, finance, marketing, etc. The twin aspects of quality and price, which are essential elements of a total marketing concept, are vital and necessary for the fullest satisfaction of consumers. It relies heavily on the adaptation and coordination of project, price, promotion and place of achieving effective response. Its scope extends to the marketing process and involves the planning, organising, staffing, motivating, coordinating and controlling the marketing factors to achieve the organisational goals.
This approach to the study of marketing emphasises the necessity of the marketing function far the good of society. Brech, marketing is the process of determining consumer demand for a product or service, motivating its sales, and distributing it into ultimate consumption at a profit. Finally, marketing management is naturally an integral part of the marketing process as it is directly responsible for taking decisions on various marketing problems, formulate marketing plans and policies and execute marketing campaigns through marketing agencies. A company adopting the marketing concept has three distinguishing elements around its marketing function 2. It requires constant interaction with the various strata of society. Marketing system based on the marketing concept assures integrated view of business operations and indicates interdependence of different departments of a business organisation. Marketing, therefore, is nothing but performance of business activities that direct the flow of goods and services from producer to the consumer. This approach is concerned with single- product strategies holding share in growth markets, increasing share in growth markets, and increasing share in mature markets. This approach to marketing is concerned with the formulation of policies and practices around the institution as a whole and involves considerations of the manufacturing and distribution systems. It integrates and combines the other business functions like production, finance, personnel, r&d, etc.Marketing management is an important career. Professionals in any career need to sell their product or service, they need to know how to introduce it to the ...