It requires a detailed investigation and examination of various markets and selection of an attractive target. To be successful, all marketing functions must be coordinated among themselves, and second, marketing itself must be well-coordinated with other departments. Promotional and Communication Process: The ultimate objective of a firm is to maximise sales volume and profit. One interesting point to mention here is that emphasis is given on marketing research, not on market research. Managerial marketing process starts with the determination of mission and goals of the entire enterprise and then defines the marketing objectives to be accomplished. The concept of marketing is the rationality that urges association to concentrate on their clients’ necessities. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others.. In considering how the individual selling unit in the marketing system operates, we will investigate the question- What is marketing management? It reposes great faith in the power of salesmanship and advertising. Achievement is straightforwardly related to what the client needs. The Societal Marketing Concept. It is the process of organizing, directing and controlling the activities related to the marketing of goods and services to satisfy customers’ needs & achieve organizational goals. Content Guidelines 2. Marketing activities are based on the premise of “make what the market wants”. Some readers will be students who intend to be in marketing management, others already are marketing managers, and still others may be in related activities that bear on marketing management in either a managerial or a regulative capacity. Rather attempt to understand it so you can adapt the controllable to the uncontrollable in such a way as to satisfy your company’s needs as effectively as possible. 05- Societal Marketing Concept: It is the most advanced form of the marketing concept that is recently becoming popular throughout the world. Scope 8. During the first three decades of the twentieth century, more and more industries were adopting mass production techniques. The customers victimized by the power of seller aggression become dissatisfied and vent their anger by spreading negative word- of-mouth publicity. Right from production and design of the goods to its transportation, every process has the customer in mind. In moving goods from producers to consumers, the function of personal selling is to push, and advertising plays a pull function. Lets understand the definition and characteristics of services in detail. Companies may adopt the societal marketing concept if it does not result in competitive disadvantage or loss in the company profits. Their phones are available in almost every corner of the Asian market. This can be discerned by studying the consumption basket of consumers situated at different locations. It has to implement marketing programme and evaluate continuously the effectiveness of marketing-mix. The status of marketing people also changes, and marketing comes in the foreground of the company operation. Meaning and concept of Marketing Management. Every aspect of marketing, starting with identifying the consumer’s need and wants, identifying the targeted customer, product planning, development, pricing, promotion, distribution process requires planning, decision making, coordination and controlling. On the other hand, societal concept introduces the concept of what economists call ‘externality’. In very general terms, what does he decide? v. Innovation – Innovation is an important tool to provide consumer satisfaction. Marketing Management Definition Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development (Kotler et al. Ford in its early times practised production concept where the company sought to bring down car prices so that it could attract a large number of customers. Marketing concept takes an individualistic perspective to business with a complete disregard for society. Marketing Concept 3. This is usually a very poor and costly assumption. The manager makes decisions about things he can control—the controllable. Chapter 1 Marketing: Definition & Importance All activities involved in creation of time, place and possession utilities. Management is the process of getting things done in an organised and efficient manner. All marketing activities are consumer centric. Production Concept 2. 7. Here. With Figure 6 for perspective, we will first examine each of the controllables. In an organisation, marketing concept is used to examine the customer’s needs and make powerful decisions to satisfy those needs, increase the sales, make profits and stand among the opponents. Marketing, in its true sense, still does not get a strategic position in this concept. Consumers can be geographically located at different places, which can create differences in their needs and wants. This helps in forecasting and planning future course of action. Almost all soft drinks and soda drinks follow the selling concept. For instance, air conditioner and refrigerator sellers’ market their products in tropical locations with ‘tropicalized’ compressors that are equipped to work in hot weather. Some decisions are concerned with change of an existing product to conform more nearly to the demands of the market. The belief that a better product is always bought by consumers actually turned out to be wrong. Marketing Management identifies market opportunities and comes out with appropriate strategies for exploring those opportunities profitably. Thus, producers will be interested in increasing their outputs. All companies must choose the set of channels they think will be most effective. But it involves a series of activities like research analysis, production, development and innovation, advertisement and promotion pricing decision, selling and distribution, customer relationship and after sales service. All these functions are integrated in order to provide maximum satisfaction to the consumer. Marketing management aims at efficient operation of marketing activities. It involves planning effective strategies to achieve the desired marketing objectives. The Selling Concept is suitable with unsought goods—those that buyers do not normally think of buying, such as insurance or blood donations. 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