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Management is the art of managing, handling and controlling. The term manage is derived from the Italian word “maneggiare” which means “to handle”. Marketing is the study of relationship between buying and selling of products and services. Hence, marketing management is defined as the management of various marketing activities and functions. An example of marketing management was Barter System (a thing for a thing) – the first trading system adopted by humanity. The main objective of marketing management is to satisfy needs of customers. Marketing management, in few words, initiates objectives, develops plans, puts various functions and marketing strategies in action and monitors the final output. In order to attract new customers, the marketing management of the firm must be effective i.e. the firm must be able to understand and fulfil needs of customers. The physical and psychological factors of marketing are acknowledged.Clients looking for various topics regarding marketing management shall refer Marketing Management Assignment Help.
Objectives and Functions of Marketing Management
The main objectives of marketing management given in Marketing Management Assignment Help are
• Creating Demand.
• Satisfying customers’ needs.
• Generating profits.
• Increasing market share.
If a company wants to have a successful marketing system, then it should be obliged to follow certain functions. The different functions of Marketing Management explained in Marketing Management Assignment Help are
• Creation of value- Michael Porter introduced the value chain concept in the year 1985. According to this concept, value could be added to different points within a company’s processes. The role of marketing management is to add value to a company and to a product. A satisfactory value is created for the customers.
• Development of Strategies and Plans- To sell a product, there must be strategies and plans established. Hence, marketing management handles all the strategies and plans required to manage a firm.
• Standardization of products- It is a process in which uniformity of shape, size, color, physical properties and design of a product is ensured. Grading is a process of storing products and is a part of standardization. In this process, products are stored in different classes according to their quality and size. Both the customers and sellers are benefited by this type of categorization.
• Advertisement and Promotion- Advertisement plays a major role to increase the sale of products. The role of marketing management is to select an effective and economical medium, plan the advertisement program and also to establish the advertisement budget. Many top brands of the world, Coca Cola, P&G, etc. use different media to promote their products. The other function of marketing management is given in Marketing Management Assignment Help.
Features of Marketing Management Assignment Help are
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• Global language to be used.
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