Types of Marketing Decisions
The marketing manager has to take many decisions that affect the day-to-day activities of the business organization. The purpose of these decisions is to achieve the pre-determined marketing objectives of the organization. Marketing decisions define the scope of marketing activities of the enterprise. These also define the duties and responsibilities and power of the employees of the enterprise. Marketing decisions may be of many types as follows:
Major decisions are those decisions which affect the quality of the product or the product line of the business enterprise. The successful marketing manager must have to take these decisions very cautiously because they have direct impact on the marketing objectives of the enterprise.
The decisions which are made for the implementation of major decisions are called minor or supplementary decisions. If a new product or service has to be develop, its form, color, design, packaging, etc. have to be determined only after the major decision regarding the development of a new product has been taken.
The routine decision making is the process in which decision maker makes decisions on daily basis on the purchase of day to day materials, sale at the sale counters, etc.
Important or Vital Decisions
These decisions are necessary for the existence, continuance and well-being of the business enterprise. These are decisions regarding purchase of new plant, developing the capacity of the old plant, etc. that affect marketing efficiency and profitability, etc. of the enterprise.
Recurrent or Rare Decisions
The decisions which are made repeatedly about the usual matters of the enterprise are called recurring decisions viz. decisions regarding sales quota, advertising, personal selling, etc. On the other hand, those decisions which are not taken regularly and repeatedly are called rare decisions such as the change of advertising agency, organizational structure, channels of distribution, sales organization, etc.
The decisions which decide the marketing policy of the enterprise are called policy decisions. The examples of such decisions are selection of channels of distribution, selection of media of advertisement, selection of methods of sales promotion, etc. These decisions play an important role in the success or failure of an enterprise. Thus, these decisions must be taken by the Top Management and based upon sound marketing research.