Marketing Management 3(2+1)

Lesson 03 : Marketing Management

Process of management

Basic process
Marketing managers are concerned with marketing organization, products, brands, channels, physical distribution, pricing, advertising and personal selling. The management process consists basically of: (i) developing a plan or programme; (ii) executing it; and (iii) evaluating the results.

Determining Objectives:

The main objectives are

• To obtain certain profit in the long run and also good sales.
• Setting goals in this direction and communicating with the concerned persons.
• Goals set should be realistic and relevant.
• Planning operation decisions should be in line with the goals.

Planning:

• Planning is a manner of achieving goals.
• The period of setting goals can be short or long; may cover product or products.
• The method of adopting an overall plan of action for achieving the pre-determined objective is termed as strategy.
• The detailed methods and techniques used in implementing the strategy is –Tactics.

Organizing:

• Process of arranging activities and the people to achieve the maximum output with highest degree of efficiency.
• Organizational policies and practices should be compatible with marketing plans.
• Should have the necessary capabilities for achieving the marketing goals.
• A draft of promotional programmes and campaigns are planned for taking actions in executing the policies and implementing the marketing plans.

Coordination

• There should be a coordination of all activities that are carried out by the company to sustain the customer.
• Effective coordination between sales, advertising, marketing research, customer service is required.
• Production department should coordinate with manufacturing department for proper quantity and quality of products at the right time and for giving information about the product for sales training.

Controlling

• This is required for proper decision and action.
• The four phases of the controlling function are
• Establishment of performance standards
• Measurement and feedback of performance results
• Evaluation of actual performance against standards, and
• Action is indicated by the evaluation

Staffing

• Important function is to assess the human resources for proper selection of personnel.
• To eliminate or reduce management problems.

Operating

• Implementation of the programme.
• Important as success depends upon the way the business is operated.
• Includes operating sales force and directing an advertising programme.

Evaluating:

• The results of the company's activities are analyzed and evaluated.
• Determines if they have been successful in goal setting and implementation.
• It comprises of four areas
  • Analysing marketing costs by territories, products or customer groups.
  • Evaluation of performance of the individual salesmen.
  • Evaluation of the effectiveness of advertising programmes by both manufacturers and middlemen.
  • Performance evaluation of middlemen by individual manufacturers.