Marketing Management is an organisation discipline which is concentrated on the useful application of marketing strategies and the management of a company’s marketing resources and activities. Quickly emerging forces of globalization have compelled firms to market beyond the borders of their home nation making International marketing extremely substantial and an important part of a company’s marketing technique. Marketing managers are typically responsible for affecting the level, timing, and structure of customer need accepted definition of the term
Different Management Viewpoints
Production Principle: The production idea holds that customers will prefer products that are readily available and extremely cost effective and that management should for that reason focus on enhancing production and circulation performance.
Item Principle: The production principle holds that customers will favor items that are offered and highly budget-friendly and that management should for that reason focus on enhancing production and distribution efficiency.
Offering Principle: Many companies follow the selling concept. The selling concept is the idea that consumers will not buy enough of the organization’s items unless the company carries out a massive selling and promo effort.
Marketing Idea: The marketing concept holds that attaining organizational objectives depends upon identifying the needs and desires of target markets and providing the wanted fulfillments better and effectively than competitors do.
Societal Marketing Concept: The societal marketing principle holds that the company should determine the needs, wants, and interests of target markets. It should then deliver the preferred satisfactions better and efficiently than competitors in a method that maintains or improves the consumer’s and the society’s well-being.
Contrast between Marketing Concept and Selling Concept
The Selling Concept and the Marketing Concept are two different concepts of Marketing that related to the evolution of marketing in the world. The Selling Concept holds that in order for the firm to be profitable, it must focus on sales of the product regardless of the orientation of the product itself. This concept became popular after World War 2
demands of the consumer.
Explains The Societal Marketing Concept 1) The societal marketing concept is the newest of the marketing philosophies. 2) It questions whether the pure marketing concept is adequate given the wide variety of societal problems and ills. 3) According to the societal marketing concept, the pure marketing concept overlooks possible conflicts between short-run consumer wants and long-run consumer welfare. 4) The societal concept calls upon marketers to balance three considerations in setting their marketing policies: a) Company profits. b) Customer wants. c) Society’s interests.
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