Marketing is the concept of satisfying the people needs by offering the right product.Management is the utilization of the resources in best possible way.When these two concepts come together, we get management of markets.A company utilizes its marketing resources in the best possible way and employs the technical concepts of marketing. Soon after the globalization, capturing international marketing with limited resources has become a tough challenge for the companies. Hence, there has been a good investment in managing the resources.
Economics and concept of competitive strategy plays a vital role in analyzing the industry context in which firm wants to operate. Industry analysis is done using the concept of potter five analysis, value chain analysis and the analysis of the competitors using strategic group analysis. These are the basic concepts of marketing that are utilized by the companies to find the right way to pitch in the international markets. It is all about the concept of managing markets.Our Marketing management assignment help service clarifies such concepts with the help of various cases and examples.
Functions of Marketing Management
There are various functions associated with marketing management.Below is the brief description of few of them that one should be aware of before proceeding with thei Marketing assignment help.
Marketing Objectives: All the marketing objectives are laid out in the first place to ensure that company resources work on the right things in right places.These objectives should be aligned with the organization goals.
Planning and Organization : It is the next function of marketing management under which a plan for sales, forecast and strategies is formulated. Soon after creating the plan, managers and other entities start working towards the plan implementation by organizing the resources.
Coordination and Direction In this phase coordination among the different locations is managed by the managers and other stakeholders. Moreover, managers on the top guide the people engaged in marketing activities about the new markets, opportunities and ideas to use them. It is more about supervision and leadership.
Control, Staffing and Evaluation These are the last few functions of marketing management. Company needs to ensure that whatever plan is being implemented is aligned with the initial expectations. Hence, corrective measures and standard evaluation is done in this phase. The Last, but not the least is the productivity analysis. Managers evaluate the targets and goals and unaccomplished goals.
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