What is meant by marketing management?
What is meant by marketing management? Of course, you often encounter questions like this, especially in marketing management classes.
Broadly speaking, of course, my friend has an idea when you get the question ‘explain what is meant by marketing management’, but maybe to explain it, my friend is still unsure.
So what is meant by marketing and marketing management? To answer this question, please see the following article.
What is Marketing
Marketing is an activity that companies do to introduce and offer their products or services. Marketing can take the form of advertising and a number of other promotions.
The company determines a group of people which we hereinafter refer to as the target market or target market. This market must be the target of research in determining what products the company will market, according to what they like and want.
What is Marketing Management
Philip Kotler expressed his opinion on marketing management, according to him marketing management is a process of analyzing, planning, implementing.
As well as controlling the running of a marketing process according to plan. The goal is to generate exchanges (sales) to the target market in order to achieve organizational goals.
This is related to organizational planning in meeting target market expectations, by maximizing pricing, implementing communication and choosing the right channel in introducing products or services, triggering purchases, and servicing the market.
So that we can also conclude that marketing management is a very important element in creating creativity to satisfy consumer expectations. Which of course the main goal is the company’s profit.
In this case, those who serve as marketing managers must be people who are careful in making strategies, planning, and controlling the ongoing marketing process.
Marketing Management Goals
There are several goals or goals that marketing management wants to achieve, including:
The initial purpose of marketing management is to invite demand or demand for products or services by various steps.
This is done by adjusting the value of the product or service according to the wishes of consumers, both in appearance, quality and price. With the fulfillment of consumer expectations, consumers will make requests for these products or services.
After successfully creating demand, the next thing that becomes the goal of marketing management is that consumers are satisfied with the product or service they pay for.
In modern marketing the orientation is on the consumer, not just on the number of sales. Because satisfied consumers will usually become loyal consumers and make repeat purchases.
Expanding Market Share
Every company certainly wants a broad market share. That is controlling the market they are targeting.
Why is expanding market share to ‘PR’ so difficult? Because in the same market there is always competition with competitors or competitors.
Even to maintain the market that we already have so that competitors do not take it is not an easy matter.
For example, in the field of selling washing machines, LG certainly wants consumers to buy only their washing machines. But consumers have other options such as SHARP. So that LG has to do a number of marketing strategies in order to attract all consumers to the washing machine market.
Of course, by increasing promotions, advertising, product upgrades and so on.
Profit or profit is the main goal of commercial organizations. Surely someone set up a commercial company to make a profit.
The profit that the company earns must be sufficient to drive the company’s economy and maintain the company’s survival. Then profit also serves for the development and growth of the company.
Creating a Good Image
In terms of forming a good brand image in the eyes of consumers, companies must be able to maintain product value, both in terms of innovation and quality.
Even at a certain stage, a company that has a good image of its consumers will stick to it even though the price the company offers becomes more expensive.
For example, the iPhone brand mobile phone product, which has many competitors at a much cheaper price in the same market.
However, certain consumers do not mind this and still choose the brand because of the good image they have.
To build a good product image in the eyes of the public is another marketing management goal. If the marketing department provides quality products to customers at reasonable prices, it will certainly create a good image for customers.
Gaining New Consumers
Acquiring new customers means that the company must pay attention to what makes the target market not yet a consumer.
Is it because they are not familiar with the product? Or something is missing from the product, or maybe even competitors have what consumers want.
By identifying the problem, marketers will be able to come up with a solution. This will increase the opportunity to increase the number of their new customers.
Marketing Management Duties and Functions
There are several stages in the tasks and functions of marketing management, including:
Doing Market Research
The first step in the marketing management function is to conduct market research. Companies conduct market research to determine what kind of product or service will meet consumer expectations.
Creating a Marketing Strategy
The next management function is to create a strategy in accordance with the data obtained by the company from research on the target market. From here the process of determining target consumers, segmentation and brand positioning.
Develop a Market Plan
Designing a marketing plan is the process of developing a strategy that a company has previously made into ideas and a number of other details about what marketing activities the company should undertake.
This the company does so that marketing activities run according to the path, based on the strategy they have planned.
Controlling the Marketing Process
The next stage of marketing management is the function to control the running of marketing activities so that they stay on the path that the company has designed.
Next is the evaluation process. That is to determine whether the strategy can be maintained or must change. Depending on the comments or responses from consumers to the products or services that the company is marketing.
Draft Marketing Management
In modern marketing there are 6 marketing management concepts, including:
Is a concept oriented to the production process. Businesses that adopt this principle usually focus on their product production activities only. Because usually their target marketing is large organizations or not end users.
Of course, in companies that adhere to this concept, the main target is the number of sales. So to make it happen the company must be aggressive in carrying out a number of promotions in order to continue to increase the number of sales.
In the product concept, the company makes the product its main priority. The company will continue to increase product value by continuing to innovate for the sake of innovation in order to maintain product quality.
Of course, the company does this in order to maintain customer loyalty and satisfaction, so that their business can survive continuously in the long term.
In applying this concept the company focuses on disseminating product information as widely as possible continuously. A series of marketing activities must be accepted and liked by the market.
In this concept, as the name implies, the orientation is consumer and satisfaction. Because by creating customer satisfaction it will create loyal customers.
Social Relationship Concept
Several large companies have embraced this concept. That is not only focused on profit but has also grown to pay attention to the welfare of the community, especially around the company’s environment. This will also create a good impression or image of the company.
Strategy Marketing Management
There are several stages of a marketing management strategy, including:
The first step in determining a marketing management strategy is to determine what goals the company wants to achieve. That way the company will not lose direction in carrying out its marketing activities.
Identifying Target Markets
The next step is to read the characteristics of the market that is the target of sales. So that it can create products or services that are in accordance with consumer interests in the market.
All marketing strategy activities must always be based on data. This is important for companies to do so that the marketing activities they do can be right on target, not by guessing what the market likes but based on the data they collect.
Implementing and Developing Strategy
The strategy that the company makes is the foundation of the running of marketing activities. For this reason, it is important to create the right and real marketing strategy so that it can be a guide in the process.
During the process, ideas will usually emerge to make adjustments or develop strategies. This depends on the results of the evaluation of the previous strategy.
The right marketing must always be up-to-date, because there will always be changes in the times which affect changes in consumer tastes. If it is able to continue to follow trends, the company will be able to survive in market competition.
Thus the answer to the question what is meant by marketing management, hopefully it can help my friend in understanding it. Thank you and good bye.