Marketing Management is an essential component of business administration and management. It is a comprehensive approach to the management and the strategy of marketing activities in all the spheres of business activity. The primary goal of marketing management is to achieve organizational goals through the development and management of markets. Marketing managers use a wide range of tools and techniques to facilitate this process. Marketing management is an essential component of business administration and management.
Marketing is a dynamic and ever-changing discipline, concerned with the science of creating and understanding markets. Marketing management is an organizational discipline that focuses on the practical applications of marketing theory, techniques and strategies within organizations and enterprises and on the optimization of a company’s marketing resources and endeavors. In this practice, marketing managers apply the same concepts, strategies and systems to organizational market research, marketing planning, implementation and evaluation.
Marketing is a critical and strategic discipline that is concerned with the creation and analysis of market trends, customers’ buying patterns and preferences, and the allocation of resources in a competitive environment. In addition, it involves the study of target markets, the definition of marketing messages and consumer behavior. These concepts and more are explored in the context of a comprehensive marketing manager’s curriculum. Marketing is an essential element of any business organization and plays a key role in the overall success of the organization.
Marketing as a discipline has been around for decades. The roots of what is marketing can be traced back to the early twentieth century when it was coined by a German academic. However, the field of marketing grew to proportions never seen before and a number of approaches were developed. Some of these approaches include using consumer surveys, focus groups, and field research among others. A marketing manager will usually specialize in a particular aspect of marketing such as advertising, selling products or services, or management and promotion.
Marketing is considered one of the most important elements of a business that can go a long way in helping the company achieve its goals and objectives. Marketing activities should therefore be carried out in a planned, coordinated and controlled manner to have maximum impact on customers. The strategies implemented must therefore be based on scientific principles of marketing such as marketing research, social science, economics and other relevant disciplines. It is very important that a marketing manager clearly communicates the goals and objectives of the organization to the rest of the team members involved.
Marketing is very much related to advertising. They go hand in hand as the two disciplines often work closely together. Marketing research is used in order to understand the target market, target factors influencing the behaviour of this market and the most efficient ways of advertising and promoting the products. The importance of market research cannot be underestimated. It is however not possible to formulate comprehensive marketing plans without the help of a marketing manager. As they are the ones who have to plan and execute the plans, they have to be well trained to understand the needs and requirements of the organization.