Given below are the points that help in easy understanding of marketing management. An amusement park or a water park represents experiential marketing- customers, by taking different rides in the amusement park or the water park, enjoy the thrill from their own experiences. This is to build goodwill and strengthen brand image. According to this approach, marketing includes all those activities which are involved in the flow of goods and services from producer to consumer in the process of distribution. For example, exchange of securities through online process. For example, school boys may not be interested in craft work and school girls may not be interested in physical training programme. Global events such as the Olympics and the World Cup are promoted aggressively to both companies and fans. Marketing research involves collection, analysis and reporting of data about issues relating to marketing products and services. The marketers should cope up with the fast changing fashions, wishes and desires of consumers and adopt them in their activities. For example- colleges and universities are marketing their institutions for attracting twinning programmes and other foreign universities. as discussed below: These include all the consumer and producer goods, i.e., vegetables, fruits, soft drinks, cloth, bike, T.V., fridge, machinery, etc. Otherwise, nobody will dare to engage in such activities and incur loss. The product or service cannot be marketed successfully till the idea is sold convincingly. This necessitates a compelled change among marketers. Marketing is pervasive in nature as it applies to all organisations. Marketing research involves systematic collection, analysis, and interpretation of data on any problem related to marketing. In this direction, the technological advancements have brought tremendous changes and increased the value and volume of business. Promotion is the process of communication to create awareness among the customers about the product. Similarly, our software technology is used by the U. K., USA and other advanced countries. Marketing involves identifying the target market whose needs and wants are to be satisfied, developing appropriate product, pricing, promotion and distribution of the product and identifying the post purchase behaviour of consumers and identifying the reaction of consumer towards marketing mix strategies. viii. Given below are the points that help in easy understanding of marketing management. With the change in economic situation globally there is a marked shift from marketing of products to marketing of services. For example, a restaurant offers both goods and services. One has to be in the race by incorporating these changes and keep updating and revising their services. Goods are produced to meet the consumer wants and to satisfy consumer with the benefits provided by the product. Promotion includes personal selling, sales promotion, world of mouth advertising etc. Scope of Marketing Create Awareness. also advertise themselves. Many market offerings consist of a mix of goods and services. Consumer satisfaction ensures that the business is moving in the right direction. Marketing activities are influenced by many forces and these have created new kind of consumers, their changed behavior, challenges, opportunities etc. Before uploading and sharing your knowledge on this site, please read the following pages: 1. graduate and want to go in automotive sector, then i think MBA (operations) will be better for you, also you can do your MBA from a specialized branch like logistics, port and shipping management, or oil and gas marketing. Sales department formulates sales policies, ensures adequate quantity of products, maintains sales records, formulates structures for sales department, manages sales force (salesmen), and controls selling efforts. 8. Sales department carry out selling functions. Events- Marketers promote time-based events, such as major trade shows, artistic perform and company anniversaries. Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relation agencies. The production and selling process loses its significance without efficient marketing. A new concept ‘Click Marketing’ – that is performing marketing activities with a click button on computers. Many services may also include some tangible elements. The term 'marketing management' consists of two different words, 'marketing' and 'management'. The adoption of technology has led to the by-pass of many agencies in the distribution channels and resulted into direct linking with the destined consumers. Marketing management, it is said, has to cope with eight different states of demand. For example, cars in air and not on road. This makes marketers to consider the changes in needs and aspirations of consumers. Accordingly, the changes and modifications are made in the goods and services. Services include- airlines, legal services, hotels, education, medical services, transportation, etc. Declining demand where consumers buy lesser quantity than earlier. Because, every product or service will be different in one or other way. In developing nations most of the marketing activities are aimed at physical products. Marketing management, like all other areas of management comprises of the function of planning, organising, directing … Naturally/such trend of convergence provides new opportunities to offer new products and economise their activities. Scope of Marketing – Information, Basic Ideas, Physical Goods, Organisation, Places, Services, Celebrity Persons, Properties, Time-Based Events and Marketing Experiences, Scope of Marketing – Goods, Services, Persons, Experiences, Events, Places, Organizations as a Brand, Information, Ownership of Property and Ideas, Scope of Marketing – Goods, Services, Experiences, Events, Persons, Places and Properties, Scope of Marketing – 10 Main Types of Entities Involved in Marketing, Scope of Marketing – As Suggested by International Marketing Institutions: U. K. Institute of Marketing and American Marketing Association, Scope of Marketing – Establishing, Joint Ventures and Collaborations, Licensing Arrangements, Consultancy Services, Technical and Managerial Know-How, Scope of Marketing – With 10 Important Entities, Marketing people are involved in marketing 10 types of entities, Scope of Marketing – All Pervasive, Identifying Consumer Wants and Needs, Identifying Consumer Behaviour, Production Planning and Development and a Few Others, Essays, Research Papers and Articles on Business Management, Marketing and Selling | Difference | Functions | Marketing Management, 4 Ps of Marketing Mix | Marketing Management, Industrial Marketing Research: Concept and Nature and Scope| Business Marketing. This is the only element of marketing which generates revenue for the firm. Place marketers include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies. This has led to rat-race among the customers who expect high standard services from marketers. Channels of Distribution – Decision regarding selection of most appropriate channel of distribution like wholesaling, distribution and retailing is taken by the marketing manager and sales manager. Most of the product is sold in the market very easily if sold through celebrity marketing. The global trends influence the situations within a nation. But, now retailing is available in big size. Following are scope for marketing which helps an organization to focus on their growth & profit. Places—cities, states, regions, and whole nations—compete actively to attract tourists, factories, company headquarters, and new residents. Finance – Marketing is also concerned about the finance, as for every marketing activity be it packaging, advertising, sales force budget is fixed and all the activities have to be completed within the limit of that budget. Information can be produced and marketed as a product. This has removed the boundaries of operation of industries. Event manages perfectly co-ordinate the work so that the show comes off properly. Decision Making: Definitions, Types, Techniques, Importance and Examples, Nature and Scope of Marketing: Areas, Aspects and Entities Covered in Marketing, Nature and Scope of Marketing – Products and Services, Marketing Research, Channel of Distribution, Physical Distribution, Promotional Decisions and Pricing Decisions, Nature and Scope of Marketing – Covering all the Activities from Conception of Ideas to Realization of Profits. The facilities and services available at such places attract more and more visitors. Negative Demand- Consumer dislikes product and may even pay price to avoid it. Market offering is a combination of goods, services, ideas, persons, places, information, etc. It is not just the products and services of an organization which are marketed, organizations often tend to market themselves as a brand.
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