Meaning & Functions of Marketing Management

Management is the processes of planning, organizing directing motivating and coordinating and controlling of various activities of a firm. Marketing is the process of satisfying the needs and wants of the consumers. Management of marketing activities is Marketing Management.
Management Guru Philip Kotler defines marketing as “Marketing Management is the analysis, planning, implementation anc control of programmes designed to bring about the desired exchanges with target audiences for the purpose of personal and mutual gain. It relies heavily on adoption and coordination of the product, price, promotion and place for achieving response”:
In other words, a business discipline, which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities, is Marketing Management.
Marketing Management focuses upon the psychological and physical factors of Marketing. The Marketing managers are responsible for influencing the level, timing, and composition of customer demand accepted definition of the term. While the psychological factors focus upon discovering the needs and wants of the consumer and the changing patterns of buying behavior, habit etc. the physical factors focus upon fulfilling those needs and demands buy better product design, channel of distribution and other functions.
In summary, Marketing in action is marketing Management.

Following is a brief summary of functions of Marketing

Marketing Objectives

Marketing management determines the marketing objectives. The marketing objectives may be short term or long term and need a clear approach. They have to be in coherence with the aims and objectives of the organization.

Planning

After objectively determining the marketing Objectives, the important function of the marketing Management is to plan how to achieve those objectives. This includes sales forecast, marketing programmes formulation, marketing strategies.

Organization

A plan once formulated needs implementation. Organizing functions of marketing management involves the collection and coordination of required means to implement a plan and to achieved pre determined objectives. The organization involves structure of marketing organization, duties, responsibilities and powers of various members of the marketing organization.

Coordination

Coordination refers to harmonious adjustment of the activities of the marketing organization. It involves coordination among various activities such as sales forecasting, product planning, product development, transportation, warehousing etc.

Direction

Direction in marketing management refers to development of new markets, leadership of employees, motivation, inspiration, guiding and supervision of the employees.

Control

Control refers to the effectiveness with which a marketing plan is implemented. It involves the determination of standards, evaluation of actual performance, adoption of corrective measures.

Staffing

Employment of right and able employees is very crucial to success of a market plan. The market manager coordinates with the Human Resource Manager of an organization to be able to hire the staff with desired capability.

Analysis and Evaluation

The marketing management involves the analysis and evaluation of the productivity and performs mace of individual employees.

Conclusion

Marketing Management has the responsibility of to perform many functions in the field of marketing such as planning, organizing, directing, motivating, coordinating and controlling. All these function aim to achiven the marketing goals.


50 Comments

  1. Anonymous

    February 8, 2011 at 4:33 am

    vry gud…itz really usefull

    • Belcy

      April 19, 2018 at 11:24 am

      Yeah it’s easy to understand

  2. Jogendra Gupta

    January 25, 2012 at 10:54 pm

    my choice in business managment

  3. paras thakur

    February 27, 2012 at 1:09 pm

    vast n easy material to learn

  4. mahawali

    August 11, 2012 at 5:31 pm

    This topic is very intrested.
    I live this subject.
    Becoush i purrsing this topic

  5. MUTHUKUMAR

    July 10, 2013 at 3:05 pm

    IT IS REALY VERY WELL TOPIKES

  6. MUTHUKUMAR

    July 10, 2013 at 3:07 pm

    MARKETING MANAGEMENT STUDIES STUDENTS USEFUL & MEANINGFUL LINES.

  7. aslam shaikh

    August 24, 2013 at 10:26 am

    awesome men …..

  8. Nishant

    November 18, 2013 at 7:14 pm

    Simple , useful & productive :)

  9. priyanka

    February 8, 2014 at 11:29 am

    nice 1 nd interesting

  10. TK Viswanathan

    February 10, 2014 at 7:52 pm

    useful and rewarding

  11. sudha

    February 11, 2014 at 7:45 pm

    very much useful but too vast

  12. BIGEZO POLLY

    March 11, 2014 at 10:57 pm

    vry nice,i would lyk to knw problems faced by companies without marketing management.thx

  13. heshma sulthana

    March 14, 2014 at 2:59 pm

    easy to learn……

  14. gokul parthiban

    April 1, 2014 at 11:40 am

    tnks and was very helpful.

  15. mahi ishfaq

    April 14, 2014 at 8:58 pm

    it is very useful for every student

  16. ashok chowdary

    April 30, 2014 at 11:08 am

    Relly vry wel useful to my exams

  17. mathankumar

    May 28, 2014 at 7:04 am

    different answer but accurate answers

  18. Amitkumar Parmar

    July 4, 2014 at 10:36 pm

    Easy to get education with better understanding

  19. Amitkumar Parmar

    July 4, 2014 at 10:38 pm

    To get education with better understanding

  20. ABHISHEK PRIYADARSHI

    July 10, 2014 at 1:12 pm

    simple but point is clear

  21. NARAYAN.K

    August 20, 2014 at 10:08 pm

    Easy to get education with better understanding

  22. Ratish uikey

    September 3, 2014 at 7:57 am

    nice to lern…………….!

  23. Ratish uikey

    September 3, 2014 at 7:59 am

    this is easy….

  24. Ratish uikey

    September 3, 2014 at 8:02 am

    so good nd good letter

  25. Rajeev hazarika

    November 14, 2014 at 8:09 pm

    Very easy to learn and too simple but correct one.

  26. Nikki bawri

    December 8, 2014 at 10:10 pm

    Its vry easy to learn in a simple language.

  27. mittal shah

    January 5, 2015 at 6:57 pm

    Its so good for us…. like simply way

  28. deepika

    March 2, 2015 at 6:16 pm

    It is easily i can understandable

  29. KUTTY

    March 11, 2015 at 10:55 am

    It’s very useful &easy understandable

  30. Rohit Kumar

    March 16, 2015 at 11:32 am

    It is Very easy Language and Understandable.

  31. reddemsaikiranreddy

    March 31, 2015 at 7:40 am

    its true and useful to the mba students

  32. Sandeep Kulkarni

    April 7, 2015 at 4:31 pm

    Very informative write up, useful for mba’s.

  33. Ritu Bahety

    April 19, 2015 at 9:50 pm

    Very nice…easy to understand

  34. Settu Prasanth

    April 21, 2015 at 2:51 pm

    its more helpful to all MBA dudes..we expecting more from you..

  35. pushpa

    April 29, 2015 at 8:20 pm

    thank u it’s good

  36. sumit katkar

    June 10, 2015 at 8:35 pm

    it is very important & interested topic.

  37. N. Bhagya Sree

    July 10, 2015 at 12:36 pm

    This information mostly present in Phillip Kotler and L.M. Prasad text books. Not new for me

  38. praveen

    July 15, 2015 at 7:05 pm

    it’ s very useful for studends

  39. naveen

    July 18, 2015 at 9:22 pm

    it`s very use to my profession

  40. ravikiran

    August 15, 2015 at 2:03 pm

    It’s help my pg cource .. Thanks

  41. machar John

    September 7, 2015 at 8:23 am

    so clear and helpful.

  42. Affu@sam

    January 20, 2018 at 7:57 pm

    It’s really good and easy…. anyone can understand very easily

  43. roseann

    January 27, 2018 at 7:31 am

    Thank u its easy to understand..

  44. Krishna kunar mishra

    April 4, 2018 at 10:55 pm

    Very very nice toping it’s my subject so I like it

  45. Ratnadeep

    April 11, 2018 at 2:23 am

    Its very useful to the study…thank you so much..

  46. onyeabor uchechi catherine

    May 2, 2018 at 12:58 pm

    I like the topic its good and easy to understand thank you

  47. Sne

    July 31, 2019 at 4:39 pm

    I am new student in MM please assist me

  48. Ramothepane

    May 9, 2020 at 12:15 am

    marketing efficiency and concepts of integrated and diversification in agricultural marketing

Leave a Reply to MUTHUKUMAR Cancel reply