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Marketing Management

Marketing Management

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Published by Anisa_Rao

For downloading this report and many other assignment, project and reports for marketing, management, human resource management, supply chain management, engineering and medical available absolutely free online please visit


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Published by: Anisa_Rao on Aug 09, 2011
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What is Marketing Management and what do product managers and marketingmanagers do?
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The Meaning of the terms Marketing Manager and Marketing Management 
Traditionally if a person had the title of “manager,” it meant that s/he had theresponsibility to help guide the activities of at least a few employees. While thisterminology has changed over the years, we still consider someone who has the title of ‘manager’ to be responsible for overseeing the allocation of resources for theorganization. For example, as an ‘individual contributor’ I might have the responsibilityof performing certain work (for example, writing marketing literature for the firm’sproducts), but not be responsible for the activities of anyone other than myself. In hightechnology industries, the word manager is often replaced with “Director” to indicate thata person has primary responsibility for a certain organizational function. For example,the ‘marketing director’ may be responsible for all marketing activities in the firm. At
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
in a contemporary sense, the four P’s may mistakenly be limited to downstreammarketing activities only and as Chapter One indicates, there are also upstreammarketing activities that are related to the marketing mix. If this does not make sense toyou, please go back and review the terms used in Chapter One. 
The Marketing Management Cycle
 The planning cycle is composed of four basic steps. First, Planning is theprocess of examining and understanding the surroundings within which the organizationfunctions. For example, “environmental scanning” is the process of studying andmaking sense of all the things that might impact the firm’s operation that are external tothe firm. This would include studying and gaining an understanding of such things as:competition, legislation and regulation, social and cultural trends, and technology. Bothpresent and developing trends in each of these areas must be identified andmonitored. The planning stage also includes creating documents that outline theorganization’s intended response to these environmental (external) variables. Second, Implementation is the process of putting plans that have been made intoaction. It is the transition from expected reality to existing reality.Third, Monitoring is the process of tracking plans and identifying how plans related tochanges that take place during program operation when more information isacquired. Correction is the stage in which we take action to return our plan to thedesired state based on feedback obtained in the monitoring stage. If we find that returnto the planned state is not practicable, we may adjust our planning outcomes. Thus,Monitoring and Correction may be considered two stages because after plans are putinto action, one must continually monitor performance and make adjustments to theplan based on the feedback gathered through these monitoring activities. In summary,the marketing management cycle is composed of planning, implementing, monitoring,and correcting. We use the use the letters ‘
’ as a device to remember the stages.
An example of the marketing management cycle in action:Let’s Get It Together 
Family Organization Services
 The organizational mission of this service firm is: “We provide families withmeans to improve their peace of mind and quality of life.” Representatives of the firmmeet with families, question them to understand how the family operates at present, doan on-site ‘activities audit’ that models patterns of daily life for the family, and then offer suggestions about how the family can be better organized and more efficient in its useof time. Let’s Get It Together is owned and operated by a mother of threechildren. After conducting several informal focus groups, she decided to start thisbusiness because she realized that her family and most other families she observedlived in a state of chaos. After attending a seminar on creativity and innovation, shedecided that there was a real need in the marketplace for a not-for-profit educational

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