Definition of Marketing Management: -
Marketing management is a branch of business studies which deals with the practical usages of certain marketing techniques and managing the resources and marketing activities of a business firm.
With the globalization and introduction of electronic commerce, it became mandatory to introduce international marketing strategies for a business firm or organization. The marketing managers are thus employed by an organization for manipulating the timing, level or even composing the demands of the customers based on the dimension of the business and industry.
Marketing management members, employ several economic tools and competitive strategies for examining the market in which the business firm operates. Some of the major techniques of qualitative market research and analysis are qualitative and quantitative research of the market, experimental as well as observational tools.
Textbooks on Marketing Management: -
Some of the basic textbooks on marketing management are as follows:
- Marketing Management, Czinkota, Michael R., and Kotabe Masaaki, 2001.
- Marketing Management Casebook, Boyd, Harper W., and Massy, William F. 1972.
Examples of Marketing Management: -
In huge consumer product companies, the marketing manager needs to understand and supervise the cost effective marketing strategies by the aid of a detailed analysis of their own business, as well as the market. Marketing management often protrudes with strategic planning disciplines.
Examining the cost structures, profit sources, competencies and resources and similar factors of the competitors, also form crucial part of marketing management. This is why, the job of marketing manager often combines even the job of general manager.
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