MARKETING MANAGEMENT AND ITS OBJECTIVES
MARKETING MANAGEMENTMarketing management is an important function of management. marketing management can be defined as an art as well as the science of choosing the various target market and attracting, attaining, serving retaining of customers. It is an important business discipline, which focused on offering the right product to the right customer. It manages the all marketing of the products in a business.
According to E.W Cundiff and R.R Still-“Marketing management is concerned with the direction of purposeful activities towards the attainment of marketing goal”.
OBJECTIVES OF MARKETING MANAGEMENT:-
Few objectives of marketing management are:
GENERATE CUSTOMERS: The main aim of marketing management is to generate the customers through various promotional activities such as free distribution of samples, discounts for existing customers and it may attract the new customers.
SATISFYING THE NEEDS OF CUSTOMERS: Marketing management starts with the demand and needs of the customers& ends with the satisfaction of those all needs. If customer`s needs are not satisfied they may shift to some other brand.
AWARENESS ABOUT PRODUCTS: The main objective of the marketing management is to promote or aware of a product to customers. Various kinds of marketing approaches can be used by a business or an enterprise to aware of their product.
INCREASE LIVING STANDARDS: Marketing management provide the good quality of products and services to its customers which is helpful for increasing the standard of living of people.
CO-ORDINATION OF 7 P`s: All the 7 P`s (Place, price, promotion, product, people, process and physical evidence) are coordinating each other. The coordination among all these elements should not possible without the proper marketing.
MORE PROFIT WITH SALES: Marketing management is helpful for aware about a particular product or service to all customers when customers are aware of the product of company they will purchase that particular product which is helpful for a company to increase their sales and earned more profit.
GENERATE GOODWILL: advertisements, publicities, sales promotion and publications are very helpful tools for generating the goodwill of a company. Good image of a product and sell a product at a reasonable price make the goodwill for a company.