Marketing Management in Brief

Marketing management is that the goals should be accomplished. This concept consists certainly of marketing and management. The former part is any campaign like product planning, price strategy, advertising promotion, public affairs, sales organisation, on-site design, service, customer relationship management (CRM), corporate social responsibility (CSR), E-marketing, media procurement, market investigation, research, brand, horizontal alliance (business alliance / strategic partnership), technological development, etc. The latter part is that all marketing activities should be correct, effective and efficient; management work/circulation should follow P-D-C-A method.

Plan: project marketing affairs

Do: implement those works

Check: track, review and evaluate the items

Action: Change and react those things

Target Market:

Introduction

Identification

Lauching a product

Modifying a product/band

Changing elements of the marketing mix

Identifying different trends in consumer behaviour

Evaluating a marketing problem/issue that may have occurred as a result of changing consumer attitudes and use of a product

Implication

1. Simplifies finding a relevant positioning since you have knowledge of the target consumers' needs and desires

2. Increases the efficiency of the plan as the content and creative effort are more relevant

3. Reduce the cost of marketing (media schedules and distribution efforts are concentrated on reaching the people who are most likely to consume your brand)

4. Simplifies the communication message as you are directing the message to like-minded people who are more likely to understand what the company is saying about the brand and product.

Implementation

C * Fcy * Av spend = total market turn over in period

C = total number of product users

Fcy = average number of times that they buy per period

Av spend = average amount spent per perchase

Quellenachweis

Strong, Helen. (2014). Marketing and Management Models: A Guide to Understanding and Using Business Models; Marketing Strategy Collection. Business Expert Press LLC.