Marketing Management Explained

Marketing Management Explained

The term “Marketing” refers to the procedure by which an organisation undertakes to interact with its target market, develop strong professional relationships so as to obtain valuable in return, and build brand awareness to make the company’s products or services known and appreciated by consumers. Marketing is therefore not a one time investment but a process that evolve with the changing marketplace. However, a marketing consultant can be of immense help in shaping a company’s marketing strategy. He can help an enterprise to develop a comprehensive marketing plan that takes into consideration current market conditions, anticipated changes, and what kind of marketing will be most useful for the company.

A firm should have a clear marketing concept before commencing the actual selling process. The marketing concept should include five key marketing functions, namely identifying the customer, providing information about the product or service, defining the market, distributing the product or service and maintaining a connection between the product or service and the customer. Once these activities have been established, the firm can proceed with the other four functions of developing a product, building consumer awareness, selling the product or service and maintaining customer loyalty. A firm should also take care to ensure that all of the marketing function are managed in tandem with each other so as to achieve maximum results.

Marketing and selling go hand in hand. In today’s world, selling has become more important than ever. Sales agents have to be well versed in all the marketing concepts in order to serve the customers well. Apart from selling, marketing management also involves ensuring that the company gets its money’s worth by taking advantage of market conditions and social marketing trends. By so doing, a company can be sure that its investment on marketing will yield optimum returns.