Marketing Management: Definition, Functions, Objectives, Tasks and Concepts

Marketing Management Definition, Functions, Objectives, Tasks and Concepts

Nikereact.orgor what is often called marketing management is one type of management that is needed for all businesses. This marketing management concerns products or services so that they are better known to consumers. Therefore, the company must understand the complete discourse regarding this marketing management.

Marketing management must be considered by an organization or company because it contributes many things to the smooth process of product marketing.

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Marketing management is also tasked with measuring and analyzing the strategic marketing process of a company or organization. Marketing management is very important in a company or organization because with marketing management the company can reach the desired target market and get more consumers.

1. Understanding Marketing Management

Marketing Management Definition, Functions, Objectives, Tasks and Concepts

Marketing management is the analysis of planning, implementing, and controlling programs designed to create, build and maintain profitable exchanges with target buyers to achieve organizational goals or company goals.

According to Kottler and Keller (2012), marketing management as the art and science of choosing target market and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

Marketing management comes from two words, namely management and marketing. Marketing is the analysis, planning, implementation, and control of programs designed to create, build, and maintain profitable exchanges with target buyers to achieve company goals.

While management is the process of planning (planning), organizing (organizing), actuating, directing, and controlling.

Marketing management is an effort to plan, implement which consists of organizing, directing and supervising or controlling marketing activities within a company in order to achieve company goals efficiently and effectively.

According to Sofyan Assauri (2013) marketing management is an activity of analyzing, planning, implementing, and controlling programs designed to establish, build, and maintain profits from exchanges through target markets in order to achieve company goals in the long term.

Philip (2005) also explains that marketing management is the process of planning and executing, thinking, pricing promotion, and distributing goods and services to create exchanges that meet individual goals within the organization.

Marketing management involves setting marketing goals and objectives, developing marketing plans, managing marketing functions, implementing marketing plans into action, and controlling marketing programs.

The existence of marketing management itself is because marketing a brand is an important thing for the company. Therefore, all decisions taken must be designed. You can learn this in the Marketing Management book below.

2. Marketing Management Function

The marketing management functions include analyzing activities, namely analysis carried out to find out the market and its marketing environment so that it can be obtained how much opportunity to seize the market and how big a threat it must have.

Explanation of integrated and mutually supportive marketing functions, among others:

a. Market analysis

Not all companies have a formal marketing and sales department, but every company must have and implement various important elements contained in marketing and sales activities whose main aim is to make new and old consumers interested in using the products and facilities offered on an ongoing basis. continuously.

To find out opportunities and threats as well as consumer needs and desires, there are several things that must be considered in the process of market analysis activities, namely: analysis of opportunities and threats, and analysis of consumer behavior.

b. Market segmentation

Market segmentation is the activity of dividing a market into different groups, where each group has almost the same characteristics.

By segmenting the market, marketing activities can be carried out more directed and resources in the marketing sector can be used more effectively and efficiently.

Market segmentation must meet the following requirements: measurable in terms of size and breadth as well as the purchasing power of the market segment, accessible so that it can be served effectively, substantially so that it can be profitable if served, and can be implemented (actionable) and all programs which has been designed to attract and serve market segmentation effectively and efficiently.

c. Define target market

Establishing a target market means assessing the liveliness of each section and then selecting one or more market segments to serve.

Activities to determine the target market include: evaluation of the market share (size and growth of sections such as data on customer age, income, gender of each segment), attractive structures from a profitability perspective, and targets and resources owned.

d. Market placement

The new company must be able to identify the existing competitor’s position before determining its own placement. Kotler (1992) explains that there are two options, namely:

1) Put yourself next to one of the existing competitors and fight for a share of the market. Leaders can do this if they feel the company can make a superior product, has a broad market, and has more resources.

2) Develop a product that has never been offered to the market today. Before making this decision, management must be sure that technically a product can be made quickly, economically it can be made a superior product at the planned price level, and the number of consumers who like the product is sufficient.

e. Marketing planning

Marketing activities (marketing) carried out by a company are important to be coordinated and directed to achieve the goals of the company in general and the objectives of the marketing sector in particular.

The marketing coordination and direction tool is marketing planning. Regardless of the type of management style adopted by a company, planning must carry out the following four stages:
1) Define the company’s mission
2) Identify the company’s strategic business units, analyze and evaluate the existing business portfolio
3) Identify the new business arena to be entered.

Thus it can be concluded that marketing planning aims to provide a systematic and neat approach for the company by:

1) Balancing and aligning marketing activities to ensure the achievement of goals and objectives.
2) Using business methods in the field of marketing in an incentive and optimal manner.
3) Quick, precise and orderly control over records, ideas or thoughts as well as marketing efforts or activities within the company.

Philip Kotler as one of the leaders of marketing management released the book Marketing Management Edition 13 Volume 1 which you can get only at Nikereact.org

3. Objectives of Marketing Management

a. Create a demand or request

One of the goals of marketing management is to create demand through various means. Create a related way to find out consumer tastes and consumer preferences for goods or services produced to meet consumer needs.

b. Increase profits

The marketing team is the only team that generates revenue for the company. Sufficient profit must be earned as a result of the sale of goods or services that one wants to satisfy. If the company does not make a profit, then the company will not be able to survive. In addition, profits are also necessary for the growth and diversification of the company.

c. Creating new customers

Companies are established to sell products or services to customers. Therefore, consumers are the basis of a company’s business. It is consumers who provide income to the company and determine what the company will sell.

Creating new customers means exploring and identifying customer needs more broadly. If a company wants to thrive and stay in business, creating new customers is crucial. So it is necessary to analyze and understand consumer desires.

d. Satisfy customers

Creating new customers is not enough. Companies must develop and distribute products (goods or services) that meet customer expectations to provide satisfaction. If consumers are not satisfied, then the business will not be able to generate revenue to meet costs and to earn a reasonable return on capital.

Satisfied consumers or customers do not mean only buying goods or services according to consumer needs. They will also make recommendations to the people closest to them and can make the goods or services marketed more known by many people.

e. Image a good product in the eyes of the public

Building a good product image in the community is another marketing management goal. If the marketing team provides quality goods and services to consumers at reasonable prices, it will certainly create a good image for consumers.

In its application, can read the book Application of Marketing Management Tools in the Product Development Process (BP) which can help you better understand the relationship between product image and marketing management.

4. Main Duties of Marketing Management

The main task of marketing management is to market the company’s products so that the company’s long-term profit level is achieved, to ensure the survival and development of the company. The task of marketing management is also inseparable from demand. So, the task of marketing management is not only to seek and develop the demand for the company’s products but also includes setting the quantity, timing, and nature of demand in accordance with company goals.

In general, the amount of demand for goods or services can be greater or less than or equal to the number of requests expected by a company. There are eight properties of demand that give rise to different marketing tasks. The eight requests include:

a. Negative request

Negative demand is when all or part of a significant segment of the potential market does not want the good or service and in fact it is conceivable that people may avoid paying the price.

b. No demand

No demand means a situation where all or part of an important segment of the potential market is not or less interested in certain goods or services.

c. Latent demand (hidden requests)
Latent demand means where many people feel the need for goods or services that have not yet been produced.

d. Faltering demand

Faltering demand is a condition where the demand for certain goods or services tends to decrease if it is not followed by improvement efforts.

e. Irregular demand (irregular demand)

Irregular demand is a condition in which there is a time pattern of demand characterized by seasonal fluctuations.

f. Full demand (full demand)

Full demand is a condition where the amount and time of demand are in accordance with the amount planned by the company. Thus, all requests can be satisfied and there is no unfulfilled demand or no unsolicited supply.

g. Overfull demand (excessive demand)

Overfull demand is a condition where the existing demand for certain goods or services exceeds the company’s level of willingness to fulfill them.

h. Unwholesome demand

Unwholesome demand is an atmosphere where a request is felt to be a violation or outside the limits of the legislation and is not wanted to be offered or contains elements that are less desirable.

Basu Swasta also gives the view that the main tasks of marketing management include:

  • Develop concepts aimed at satisfying and serving unfulfilled consumers.
  • Study consumer needs and wants.
  • Create product designs.
  • Conduct testing of the validity of the product concept.
  • Develop packaging and branding.
  • Set a price to get a decent return on investment.
  • Manage distribution.
  • Creating effective marketing communications with various media.
  • Pay attention to customer satisfaction.
  • Evaluate and continue to develop marketing plans based on results.

The concept of Marketing Management has also developed, which at first was often used to monopolize the marketing department, now it has become an activity of all departments in a company. You can understand this better in the Marketing Management book by Prof. Dr. Thamrin Abdullah, Dr. Francis Tantri.

5. Marketing Management Concept

Kottler (1997) describes five alternative concepts in marketing management, namely:

a. Production concept

The production concept is the concept that consumers or customers will like products that are available and affordable and management must strive to improve production and distribution efficiency. This concept is the oldest philosophy used in sales.

This concept still applies to situations, when the demand for a product is greater than the supply, and occurs when product costs are higher and productivity improvements are needed to reduce them.

b. Product concept

The concept that consumers will favor the best quality products and the most innovative nature that companies must devote energy to continuously make product improvements.

c. Sales concept

The concept that consumers will not buy sufficient quantities of the firm’s products unless the firm undertakes a large-scale sales and promotion effort.

This concept is usually applied to goods that consumers may not think of buying, for example: insurance. This industry must be adept at tracking potential customers and selling product benefits to consumers with the aim of selling goods or services that companies make, not what products consumers need.

d. Marketing concept

This marketing concept believes that the achievement of organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors.
The marketing concept came into effect because sales began to fall, product growth slowed, buying patterns changed, competition increased, and selling costs increased.

e. Social marketing concept

The concept of socially-oriented marketing means the concept that companies must determine the needs, wants and interests of the market and deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the welfare of consumers and society.

This concept invites marketers to build social and ethical considerations in their marketing practices. This is in order to balance and align the three main factors that are important, namely corporate profits, satisfying consumer desires and public interest.

To better understand the concepts in it, can study them through the book Marketing Management Basic Concepts of Strategy to develop their insights and knowledge.

6. Marketing Management Books

7. Conclusion

Good marketing management will determine the success of a company in the future. With optimal marketing steps and concepts, it is certain that the company will get maximum profits and also benefit the parties involved.

To build good marketing management, of course, there must be analysis, planning, implementation, and controlling of all plans. If everything is done correctly, then the company can develop better.

Marketing managers are expected to be able to generate the right imagination and be creative in planning to master changing market conditions and also require skills to coordinate and control the activities of a dynamic company that is widespread.

Good marketing management also has the aim of knowing consumers well so that companies can offer goods or services and services so that consumers remain loyal and new consumers continue to increase.

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