other firms, the term ‘marketing manager’ would be used to describe the same thing. Insome organizations, the Vice-President of Marketing may perform the samefunctions. The term Product Manager is often used in high technology industries toassign responsibility to a specific individual or group for the successful supervision of allmarketing activities related to a specific product or service. Sometimes the productmanager’s responsibility is defined in terms of the product s/he is overseeing andsometimes the responsibility is defined in terms of a specific technology. For example,one high-tech firm might use the title of Product Manager-Digital Systems to describethe job of the person who is responsible for digital versus analog customer solutions. This brings up still another consideration.
The use of titles varies acrossindustries of types of organizations
. We will discuss how different firms organize themarketing function in a later chapter.
What is marketing management?
We will use the following definition of marketing management: “
is the process allocating the resources of the organization towardmarketing activities.” Thus, a marketing manager is someone who is responsible for directing expenditures of marketing funds. Related to the term ‘management’ is theterm ‘strategy.’ Many words in the vocabulary of business management were takenfrom the field of military science. For example, the word ‘strategy’ has been used in themilitary for many decades to indicate a long-term commitment of resources towardaccomplishing a certain goal. Thus it is often said that management is responsible for conceptualizing strategies, and other employees are responsible for implementing thosestrategies. Management-by-Objectives programs in which a supervisor will formulatestrategies and other employees will choose the method of reaching those objectives isan example of this relationship in action. As the reader can see, a discussion of ‘strategy, objectives, and goals’ can very quickly develop into a miasma of terms andconfusion. Thus, we will use the following definitions. First, we will consider goals andobjectives to be identical terms. Second, we will use the term ‘objective’ to refer to abroad-based design of where the organization would like to be at some point in thefuture. For example, as an objective, the organization might decide to be the ‘leader inproduct quality as judged by customer surveys of our organization and our five leadingcompetitors.’ We will define the term ‘strategy’ as a method used to reach anobjective. For example, to reach our product quality objective, our organization mightdecide to enroll in a ‘total quality program’ offered by most large consulting firms. Thus,strategy will have two meanings. First, it is the overall orientation an organizationchooses to allocate its resources, and second, strategy is a specific action used toimplement these plans. Thus, there is a two-tiered nature to strategy. One at the top, asa broad guide to preferred action, and one below helping to implement objectives. Use‘strategy’ as a keyword search on the internet and see what you find.In marketing, we often use the ‘four P’s’ to designate the areas of control amarketing manager has at his/her command. The ‘four P’s’ as you probably alreadyknow are: Product, Price, Promotion, and Place. The ‘four P’s’ represents a convenientway to summarize the main factors involved in any ‘marketing strategy.’ However, seen