What are tasks necessary

for successful marketing

management?

Marketing Management Tasks include:

• Developing Marketing Strategies and Plans

• Assessing Market Opportunities and Customer Value

• Choosing Value• Designing Value• Delivering Value• Communicating Value• Sustaining Growth and Value

Developing Marketing Strategies and Plans

The first and foremost task is to identify its potential long-run opportunities, given market experience and core competencies.

Assessing Market Opportunities and Customer Value

• The firm must closely monitor its marketing environment by dependable market research system to asses market potential and forecast demand.

• The firm may use sales-response functions that show how the amount of money spent in each application will affect the sales and profits.

• The firm must consider how to create value for its chosen target market, and develop strong, long term relationships with customers.

• To do so, firm needs to understand consumer markets.

Choosing Value

• The firm must divide the market into segments and choose the target market.

• Should pay close attention to competitors.

• Understanding strengths and weakness, should develop strategies for competitive differentiation in long run.

Designing Value

• The heart of marketing, “Product”, which includes product quality, design, features, and packaging.

• May also think of leasing, delivery, repair and major role goes to pricing.

Delivering Value

• The product must be made accessible and available to target customers.

• The firm must deal with various types of retailers, wholesalers and physical distribution firms and make up their decisions.

Communicating Value

• The firm must develop integrated marketing communication program that maximizes the individual and collective contribution of all communication activities.

• Should start advertising, sales promotion events and develop public relations, in formof direct and interactive marketing by trained salesman.

Sustaining Growth and Value

• The firm must also initiate new product development, testing, and launching as part of its long-term view, taking into account global opportunities & challenges.

• Finally firm must build a marketing organisation

capable of implementing marketing plan

Interested to know more, Refer

Available in All Leading Stores,

A South Asian Prospective Marketing Management14th Edition, Philip Kotler

Credits:

• iStockPhoto.com for professional Pics.• Colorlovers.com for Colour Scheming.• Images.Google.com for Advertisements Images and Brand Images

and also Indian local image base.• A South Asian Perspective to Marketing Management 14th Edition

Book by Kotler, Chapter 1: Defining Marketing for 21st Century.

A Shashank Motepalli Presentation

Thanks