Marketing management is an area that companies really need to boost sales figures.
Of course, my friend already knows what marketing management is in general. But to understand more fully about what marketing management is, take a look at the following article.
Definition of Marketing Management
Marketing management is the activity of planning, directing, monitoring and evaluating matters relating to the activity of offering products to the general public or consumers.
This process the company does to confirm that its products can be recognized by consumers, by setting effective and efficient marketing targets so as to achieve company goals.
The marketing process runs by implying marketing elements such as advertising, promotion, and public relations.
Marketing Management According to Experts
According to Buchari Alma, marketing management is the process of planning, directing and supervising the overall marketing activities of a product that the company has.
In general, a company management operates with the help of a division in the marketing field of a company.
Kotler Marketing Management
According to Philip Kotler, marketing is an activity to analyze plans related to the realization and control of marketing strategies.
Which is structured in order to get maximum results in a market segmentation with the main goal of getting a profit or company profit.
The Importance of Marketing Management
The following are the functions and reasons for the importance of marketing management in a company or business.
Analyzing the Market
Conducting market research or market analysis is necessary for companies to do in determining product characteristics that are in accordance with consumer interests or ongoing trends.
Analysis or market research that the company conducts will produce data, which will then be processed in such a way as to produce marketing strategies and plans.
In addition, conducting market analysis is also important to know about opportunities and threats that come from the same market.
Doing Market Segmentation
Market division is also known as market segmentation. Market segmentation is the activity of dividing the existing market into different groups or groups.
This grouping is based on the characteristics or characteristics of the existing consumers in each of these groups.
The function of segmenting this market is to obtain a more focused strategy for only one or more groups.
In addition, with market segmentation, management can maximize existing marketing resources more effectively and efficiently.
Determining the Target Market
The target market or target market is the market that the company targets or chooses to be the focus of marketing.
Determining the target market is one of the functions of marketing management which is also a continuation of dividing the market or market segmentation.
That is, after dividing the market or market segmentation, then the company determines a market segmentation that becomes the target market which will then become the target of marketing the products that the company creates.
Creating a Marketing Strategy
Marketing strategy is a set of marketing plans that are systematically arranged with the aim of making the marketing steps taken run effectively and efficiently and stay on track.
The marketing strategy that the company creates then leads to the creation of a marketing plan.
The marketing plan is in the form of ideas that the company creates in detail on the steps the company will take to introduce its products or remind the public of its products.
Creating a Marketing Plan
As explained in the previous point, a marketing plan is a manifestation of a marketing strategy.
The marketing plan is a precise step in marketing the product with detailed implementation of the plan.
In general, a marketing plan describes who does what, when and where and how.
In a sense the marketing plan describes everything the company will do in detail.
Presenting New Products
In a company that produces a new product, of course there needs to be someone who introduces the product to its target consumers.
Marketing management is important in this case to bring together a new product with potential buyers, because consumers will not be able to buy without first knowing about the new product.
Of course, marketing management is a tool that companies need to carry out this task. This we can call brand awareness or product awareness.
Marketing Management Goals
There are several things that are the goals of marketing management, including:
Bringing Request (demand)
Demand or demand is the goal of creating marketing management. In order to realize an increase in the number of requests or demands, companies must adjust their products to consumer expectations.
That is adjusting to consumer tastes or current trends in the market.
The next marketing goal is to increase the amount of profit or profit in the company.
Marketing management has the responsibility to achieve profits in accordance with the sales success benchmarks that the company has made.
Because in general, every company has a profit target that they make in such a way as an indicator of the success of selling the products they market.
The product that the company sells must have an advantage, because if the product does not have a profit, the product will not be able to help the company in maintaining its sustainability.
This advantage is generally material or in the form of profits in nominal money, but in some situations where profits can be in other forms.
For example, at the promotion stage, the profits the company gets can take the form of consumer attention or an increase in product image and so on, but usually it is only for a certain period and does not last forever.
Gaining New Consumers
Apart from pursuing profit, the next goal of marketing management is to get or attract new customers.
The steps that management needs to take are none other than developing product values and conducting searches related to consumer desires and expectations more broadly.
The purpose of acquiring new customers is of course to increase sales figures and obtain greater profits for the survival of the company.
Meeting Consumer Expectations
In short, a product must be able to satisfy customers. The goal of marketing management is to ensure that this happens.
Because even though all marketing activities the company does in the end it is consumer expectations that will determine whether a product will survive in the market or not.
Because if consumers do not like the product, then gradually the number of purchases will decrease so that it does not bring profit anymore for the company.
Build Product Image
Creating a good image, the company needs to show a good impression to consumers regarding the product.
This of course can be done by increasing the value or quality of the product. So that the previous marketing management goals are achieved, namely meeting consumer expectations.
In marketing management the company must pay attention to the marketing mix which consists of:
Product or product is something that plays a major role in business exchanges. The product is what makes the transaction between the seller and the buyer. In the sense of the word marketing is very product-oriented.
The company can be said to be successful if the product being marketed can survive in a market, this can happen of course because the product is a product that can meet consumer expectations in terms of quality and is feasible for consumers to buy.
Price is an element of the marketing mix which is a nominal amount that consumers need to sacrifice to be able to obtain a product. Price is considered as the value of a product that the company markets.
In determining pricing, companies must be able to measure the value of their products. Is the price that consumers want to buy the product?
Because price is one of the variables that consumers will consider in choosing a product.
In addition to determining prices that are relevant to the value of their products, companies must also be able to measure whether the prices they have set can bring profits to the company.
Because if not, then the company should review the decision to market the product or re-determine the price that can bring benefits to the company.
Promotion is all the efforts the company makes in order to attract consumers to make purchases of the products they market.
The company’s purpose of promotion is to introduce new products, gain consumer attention, increase sales, and remind the market of existing products (not new products).
Place or place is the location where the sale and purchase of products is carried out. Determination of this location is also important because it is one of the determining variables of the number of purchases that the company will get.
In short, a place with lots of people will certainly bring in more sales than a quiet place.
However, in its development, the location variable can have a broader meaning, because nowadays many businesses have switched from conventional to online businesses.
People or people are the movers who market a product. This means that people are the subject of this marketing activity.
People or people in the marketing mix do not mean only the seller, but all humans who have a role or share in the running of marketing activities, for example management, other human resources such as workers, even consumers are included in it.
However, what needs to be the most attention is people who have a direct role to serve consumers in buying and selling products, both in the form of goods and in the form of services.
This is important because service human resources have the responsibility to build an image that will be attached to the product and will provide an experience or leave an impression on consumers.
Of course, the company hopes that the impression that consumers catch is a good impression, so that the product has a good image and consumers are willing to make repeat purchases.
The process is a way of completing all activities in marketing that are arranged systematically and completely from stage to stage.
During the process, the management must ensure that marketing activities are on the right track, so that the entire process can run optimally and produce effective marketing activities.
Physical evidence is all tangible or physical tools that companies use to support marketing activities. In short, it is a facility that helps marketing activities run.
Types of Marketing
There are several types of marketing that companies can do, including:
Public Relations (PR)
Public relations is a marketing activity that the company does by establishing good relations with the public so that the company can have a good image.
By having a positive image in the surrounding community, it will benefit the company in carrying out various marketing and other operational activities.
Because the positive image will create a lot of support as well as attract people’s attention in a positive way as well.
This is very effective for companies to do in building brand awareness or product awareness from the surrounding community.
Digital marketing is marketing by utilizing internet access to make it easier for companies to connect with their consumers.
The trick is to utilize all available online resources as much as possible to be able to market products and reach their target market.
The advantage is that the costs the company needs are quite low and very fast in reaching the target market.
Moreover, there are many platforms that provide advertising services that allow companies to market their products right to the targeted target.
The drawback is the high competition in the online market so that many choices of money appear in the same market, and raises the character of consumers who are more critical and picky.
An example of marketing management that utilizes digital marketing is the use of advertising services on the Facebook platform called Facebook ads.
Word of Mouth Marketing (WoMM)
Word of mouth marketing is a form of disseminating information related to a product by word of mouth, both verbally and non-verbally.
Usually this is done unconsciously by consumers by recommending a product that they have used and proven they like to their closest people.
At this level indirectly product quality has turned consumers into marketing agents.
Relationship marketing is the process of building and maintaining a relationship between a product or brand and consumers.
In addition to innovating and creating new ideas to attract new consumers, companies must also not ignore old customers.
The company and its management must use marketing techniques as much as possible to maintain good relationships with existing customers in order to gain their loyalty.
One of the broadcast advertisements that had become a mainstay of its time was the use of radio media. The broadcaster will play a recorded conversation that mentions a certain product, or mentions the product on the sidelines of the segment he brings.
Of course, the company that produces the product needs to pay for this advertisement, because the radio broadcasting the advertisement for the product is a third party.
Today there are still advertisements that run on radio stations, but not as much as before. Usually advertisements that still use radio broadcast media at this time are in the form of public service advertisements or advertisements for local products whose producers are in the local area.
In addition to using radio media, the company also broadcasts by utilizing television media. Which as we know to be able to put products into television broadcasts will cost a lot of money.
Because there are many companies scrambling to air their product advertisements on these television stations, while the slots for broadcasting are very limited.
So that the advertisements that appear on television stations are advertisements from companies that are able to pay fantastic amounts.
Thus an explanation of marketing management, hopefully my friend can understand the material. Thank you and good bye.