Marketing Management Definition, Purpose and Functions

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Marketing Management Definition, Purpose and Functions

Marketing management is a term that is currently popular, especially among business people even though this term has been known for a long time.

This began with the emergence of the first trading system adopted from the barter system and then money became the basis of all existing transactions.

Then the increase in human population and its needs make the trading system enter the industrial phase.

This is where many factories are established to produce goods and are expected to buy the goods produced.

At that time there were no strategies such as segmentation, differentiation, etc. because when it was trade and industry were only based on market needs.

With so many people seeing that being a producer can make more money, many people start to become producers.

This is what makes the industrial revolution because of the increasingly intense competition between producers to capture the market.

Here comes the concept of marketing management that is used by producers to attract customers of their products.

Understanding marketing management according to experts

marketing management functions

Philip Kotler (2001: 14)

Understanding of marketing management according to Philip Kotler (2001: 14) is a process of planning and implementing ideas, pricing, promotion, distribution of goods and services to obtain exchanges to achieve individual and corporate goals.

An exchange is the basis of marketing principles because marketing is very relevant to the problems and challenges of individuals or companies.

Based on this, it can be understood that marketing management is very important for the success of any business or organization.

Machfoedz (2005)

Understanding management according to Machfoedz (2005) is an analysis of marketing management, planning, implementation, and control programs that are patterned to make, build, and maintain the benefits of exchanges to buyers with the intention of achieving company goals.

Peter Drucker

Marketing is not only broader than sales or not a special activity at all. This covers the entire business from the point of view of the end result, that is, from the customer’s point of view.

Therefore, care and responsibility for marketing must penetrate all areas of the company.

Bartless

Marketing is the process by which a society, to supply its consumption needs, develop a distributive system consisting of participants, who, interacting under technical (economic) and ethical (social) constraints, create transactions or flows that complete market separation and produce exchange and consumption.

Marketing management objectives

importance of marketing management

Marketing management is a part of the management system to carry out marketing operations.

This can include planning and all forms of marketing application by using several marketing techniques that are relevant to the product.

Some marketing management objectives:

1. Creating requests

The first objective of marketing management is to create a demand for products or services owned by a company or organization.

What happens if you sell a product that does not have a number of requests at all or a little.

Of course, your product or service will be difficult to sell and make a profit.

Therefore we need a way to make the market become interested and buy the products you have.

With a sense of interest from the community can provoke them to try your product and convert it into sales.

2. Build customer or customer satisfaction

After your product or service can be accepted by the market, marketing management will analyze how products sold can satisfy consumers.

Therefore management must be able to understand the needs and desires of consumers.

3. Obtain market share

The thing that is impossible to avoid in the business world is competition between business people of the same type.

Therefore every business must compete for the strategy to market the product or service they have.

This competition can come from old players or new players, so business people must be able to get positive sales progress.

This is the goal of marketing management to compete with competitors and market share.

4. Get profit

It is undeniable that almost all companies that exist today are always aiming for profit.

Income or profits obtained by a business are always used as a benchmark for success.

This is one of the goals of marketing management that is to sell products with a large margin value and obtain maximum sales.

5. Building a brand or image

One of the goals of marketing is to build a good company image or product in the market.

By having a positive image, your company or product can get market attention both from the viewpoint of the consumer and the views of the investors on employment.

The thing that is often forgotten by novice businessmen is building a business that is not only looking for profit but also maintaining the image of their product or brand.

6. Maintain business or organizational continuity

Marketing is the most powerful weapon for companies to maintain business or organizational sustainability.

This is because marketing has an important role for companies to earn income or profits.

A business without profit and income certainly cannot run a business operation to its full potential.

Using good marketing management will help the company to achieve sales targets and achieve profit targets.

Marketing management functions

7 Factors Why People Succeed an Investment

A newly developed business must be able to understand the marketing management function because at this time business competition is to market its products to the market.

Marketing is one of the terms we hear most often but not many people understand it

Here are some marketing management functions:

  1. Marketing objectives – Marketing management determines marketing goals. Marketing goals may be a short or long term and require a clear approach. They must focus on the goals and objectives of the organization.
  2. Planning – After the formulation of marketing objectives, an important function of marketing management is to plan how to achieve these goals. This includes sales forecasts, marketing program formulations, marketing strategies.
  3. Organization – A plan that has been formulated needs to be implemented. Organizing. The marketing management function involves the collection and coordination of the facilities needed to implement the plan and to achieve the intended goals. The organization involves the marketing organization structure, duties, responsibilities, and authority of various members of the marketing organization.
  4. Coordination – Coordination refers to the harmonious adjustment of the activities of the marketing organization. This involves coordination among various activities such as sales forecasts, product planning, product development, production, transportation, and warehousing, etc. The direction in marketing management refers to the development of new markets, employee leadership, inspiration, motivation, guiding and supervising employees.
  5. Control – Control refers to the effectiveness of the marketing plan applied. This involves setting standards, evaluating actual performance, and adopting corrective actions etc.
  6. Employment – Appropriate and capable employee work is very important for the success of the market plan. The organization must have a marketing force with the desired ability.
  7. Analysis and evaluation – Marketing management involve the analysis and evaluation of target marketing areas and the productivity and performance of employees who carry out marketing activities.

Factors that influence marketing strategy.

The factors that influence the organization’s marketing strategy are as follows

  1. Target customers
  2. Products, places, promotions, and prices
  3. Information on marketing, planning, organization, implementation and control systems
  4. Marketing, public, competitors, and suppliers
  5. Demographic and economic environment, technological and physical environment, social and cultural environment, and the political and legal environment.

Conclusion

Based on the above opinion it can be concluded that the notion of marketing management is the process of analysis, planning, implementation, pricing, promotion, and distribution as well as control programs that are patterned to create, build, and maintain the benefits of exchanges to buyers to achieve company goals.

Such is the discussion about the Definition of Marketing Management, Its Purpose, and Functions

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