What is Marketing Management? Definition, Roles & Jobs
What is Marketing Management? Analyze the role of the marketing manager. List of tasks and jobs of Marketing management. Overview of the marketing management process.
Marketing is a complex activity that takes a lot of time and effort. Especially in businesses, marketing activities take place with a huge amount of work, abundant budget and human resources. Therefore, marketing management in these cases is extremely necessary for marketing activities to take place in a systematic, methodical and highly effective manner. So, what is Marketing management? Let's explore that concept through the content below.
What is Marketing Management?
Marketing Management is a collection of tasks related to planning, strategy, resource allocation, implementation, evaluation, adjustment and decision making in marketing activities of an enterprise for maximum efficiency and productivity.
The marketing management process includes many sequential and rotating stages like a cycle, including:
- Marketing Auditing
- Marketing strategy development
- Marketing planning
- Marketing implementation
- Marketing performance evaluation
- Marketing best patterns
The role of marketing management
The common link in all marketing activities of the business
Like Marketing, the ultimate goal of Marketing management is still to help businesses gain beneficial values through building and bringing values to customers. However, to do that, businesses need a standardized process with clear steps, appropriate plans and strategies, reasonable resource allocation, timely decisions. , thereby helping the links in the business operate and cooperate more smoothly and effectively. This is the primary goal of marketing management.
Acting as a bridge between businesses and customers and consumers
Marketing managers are people with sharp eyes to observe the market, customer and consumer behavior. Because they are not dominated by small marketing operations, Marketing managers have enough time to monitor and understand what is going on in the psychology of consumers, thereby acting as a bridge between consumers and businesses.
Helping businesses balance marketing budgets
Not all businesses have an abundant Marketing budget to comfortably pay for advertising campaigns, PR or market research and product development. Any "overstretching" in Marketing can cause businesses to waste a valuable financial resource. The presence of a Marketing manager will help businesses balance their marketing budgets, help their apparatus operate effectively and in accordance with the strategies and plans set out.
Helping businesses have the right product development directions
Product development is not simply about price, feature, or technology races. The main core element in product development is to meet the needs and desires of consumers, as well as give them the best user experience that only your business can bring. Therefore, businesses always need the guidance of marketing managers in product research and development activities.
Communication control
The effects of communication always have certain impacts on businesses in many aspects such as production efficiency, sales, reputation... Those effects are sometimes large enough to cause a business to drop in sales. significantly over a long period of time. Therefore, communication control is one of the great roles of marketing management to ensure stable operation of businesses against information storms.
Controlling the Marketing Environment
Factors present in the microenvironment and the macro environment of an enterprise, together with its changes, always have certain effects on the performance of the enterprise. Therefore, regular monitoring and observation will help businesses avoid negative impacts from changes in those environments, as well as take advantage of advantages to help businesses achieve higher efficiency in operations. marketing action.
Helping the business increase market share
Market share is the basic foundation for a business to generate revenue and profit. In addition, market share also reflects the size of a business in a market. Therefore, businesses are always trying to increase the market to get the best foothold in the market. However, increasing market share is not easy, much less the story of day 1, day 2. It is a whole process of efforts of an enterprise, with invested, researched and invested marketing strategies and plans. carefully studied. Of course, to be able to do that, businesses need the contribution of talented Marketing managers.
Helping the business increase profits
In Marketing, sometimes the factors that affect profit include not only costs and revenue. Profit is also affected by other factors such as customer lifetime value (CLV), market share, customer loyalty... Based on that, The presence of a Marketing Manager will help businesses increase profits during their operations and business.
Marketing management jobs
It is difficult to list exactly all Marketing management jobs because they are many and depend on each market, industry, and business. However, the common marketing management jobs that can be mentioned in most businesses include:
Planning a Marketing Strategy for a Business
To achieve the long-term marketing goals of the business, in the most effective way, in the shortest time, businesses need to have appropriate strategies and plans.
Develop a marketing plan for the department
Based on the proposed Marketing strategy, the Marketing Manager builds a Marketing plan for the year, month, and quarter, applied to departments and teams. The Marketing plan includes the main goals to be achieved, the budget to be spent, the tools and equipment to be purchased, the Marketing campaigns to be implemented...
Building & training Marketing staff
Human resource management is one of the important tasks of marketing management. Any department or department needs a leader to be able to lead, illuminate and guide the team. Marketing managers combine business resources with marketing strategies and plans to plan positions to recruit, train and lead them to accomplish the set goals.
Marketing budget allocation
From the general budget for Marketing activities, the Marketing Manager will allocate it into small budgets for each specific Marketing activity such as market research, product development, sales, customer care, etc. Promotion & communication, branding...
Building a corporate brand
In the long run, the brand is an important factor for businesses to survive and thrive in the market. To do that, businesses need to clearly define who they are aiming to serve. In addition, understanding the feelings and experiences of customers throughout the purchasing process will help businesses provide effective directions in improving product/service quality.
Frequently Asked Questions (FAQ)
Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to reach organizational objectives.
The roles of marketing management include analyzing market trends, identifying customer needs, developing marketing strategies, managing product development, setting prices, promoting products, and measuring success.
Jobs in marketing management include marketing manager, product manager, brand manager, advertising manager, public relations manager, and sales manager.
Skills required for marketing management include strategic thinking, creativity, communication, analytical skills, leadership, and project management.
Marketing management is important because it helps organizations reach their target market, increase sales, build brand awareness, and achieve their overall business objectives.
