Introduction to Marketing Management, Meaning, Definition, Functions and Objectives

1. K. KALAI SELVI
Assistant Professor of Commerce
Bon Secours College for Women
THANJAVUR

2. INTRODUCTION
TO
MARKETING
MANAGEMENT

3. Meaning
“Marketing management is the creative
management function which promotes trade
and employment by assessing consumer needs
and initiates research development to meet
them. It coordinates the resources of
production and distribution of goods and
services, determines and directs the nature of
efforts required to sell profitably by
maximum production to the ultimate user”.

4. .promotes trade and
employment

5. . Initiates research development

6. Definition
Philip Kotler has defined “Marketing Management is
the analysis, planning, implementation and control of
programmes designed to bring about desired
exchanges with target audiences for the purpose of
mutual or personal gain. It relies heavily on the
adaptation and co-ordination of product, price,
promotion and place of achieving effective response.”

7. . Analysis

8. . Planning

9. . Implementation

10. . Control

11. . Gain

12. Functions of Marketing Management
. Determination of marketing goals to be achieved
. Market analysis to improve sales
. Formulation of marketing plans, procedures, policies etc.
. Evaluation of unsatisfied and potential customers needs and
desire
. Organising the marketing functions and marketing mix
. Develop detailed sales plans and budgets
. Encouraging good employee relation within the organisation
. Exercises effective marketing communication
. Participation in the product planning to match with demand
. Periodical review of over-all marketing programmes to
increase the sales volume and net profits
. Proper control and co-ordination of all marketing functions.
. Evaluation of actual performance with the standard
performance
. A plan “to do right things and not to do things rightly” that is
importance is given to demand side

13. Objectives of Marketing Management
. To satisfy customers
. To increase profits for the growth of the business
. To generate more and more customer base for the business
. To increase the quality of life of the people
. To determine marketing-mix that will satisfy the needs of
customers
. To create good image of the organisation

14. Distinction between Marketing and
Sales Management
Marketing Management Sales Management
1. It is a modern concept
2. Its object is to satisfy
consumer wants/needs
and then maximise
profitability
3. It deals with problems
of buyers
4. Its scope is wider
. Discovering needs
. Obtaining demand
. Customer satisfaction
. Aims repetition of
orders
5. It includes sales
management
1. It is a old concept
2. Its object is to maximise
sales
3. It deals with the
problems of sellers
4. Its scope is narrow:
. Selling
. Sales promotion
5. It is a part of Marketing
Management