what are tasks necessary for succesful marketing management- shashank motepalli
TRANSCRIPT
What are tasks necessary
for successful marketing
management?
Marketing Management Tasks include:
• Developing Marketing Strategies and Plans
• Assessing Market Opportunities and Customer Value
• Choosing Value• Designing Value• Delivering Value• Communicating Value• Sustaining Growth and Value
Developing Marketing Strategies and Plans
The first and foremost task is to identify its potential long-run opportunities, given market experience and core competencies.
Assessing Market Opportunities and Customer Value
• The firm must closely monitor its marketing environment by dependable market research system to asses market potential and forecast demand.
• The firm may use sales-response functions that show how the amount of money spent in each application will affect the sales and profits.
• The firm must consider how to create value for its chosen target market, and develop strong, long term relationships with customers.
• To do so, firm needs to understand consumer markets.
Choosing Value
• The firm must divide the market into segments and choose the target market.
• Should pay close attention to competitors.
• Understanding strengths and weakness, should develop strategies for competitive differentiation in long run.
Designing Value
• The heart of marketing, “Product”, which includes product quality, design, features, and packaging.
• May also think of leasing, delivery, repair and major role goes to pricing.
Delivering Value
• The product must be made accessible and available to target customers.
• The firm must deal with various types of retailers, wholesalers and physical distribution firms and make up their decisions.
Communicating Value
• The firm must develop integrated marketing communication program that maximizes the individual and collective contribution of all communication activities.
• Should start advertising, sales promotion events and develop public relations, in formof direct and interactive marketing by trained salesman.
Sustaining Growth and Value
• The firm must also initiate new product development, testing, and launching as part of its long-term view, taking into account global opportunities & challenges.
• Finally firm must build a marketing organisation
capable of implementing marketing plan
Interested to know more, Refer
Available in All Leading Stores,
A South Asian Prospective Marketing Management14th Edition, Philip Kotler
Credits:
• iStockPhoto.com for professional Pics.• Colorlovers.com for Colour Scheming.• Images.Google.com for Advertisements Images and Brand Images
and also Indian local image base.• A South Asian Perspective to Marketing Management 14th Edition
Book by Kotler, Chapter 1: Defining Marketing for 21st Century.
A Shashank Motepalli Presentation
Thanks