The functions of marketing management

It is a common misconception that marketing and selling are the one and same thing and that marketing management involves just these two aspects. On the contrary, marketing management involves much more, and it also incorporates evaluating the requirements of the customer, securing information that is critical to the design, as well as to produce products and/or services that match the potential customers’ expectations. At the same time, marketing management also involves creating and developing long lasting relationships with both the consumers and suppliers. In fact, the modified concept of marketing management, that we know of today, permeates all of the functions of the company.  The basic concept of marketing management recognizes that fact that marketing variables such as product, price, place and promotion together combine to offer consumer satisfaction.

The meaning and various functions of marketing management

The concept of marketing management focuses on the psychological and physical aspects of marketing. To be precise, the psychological facts focus on discovering and finding out the wants and requirements of the customers in the market, and their patterns of purchasing behavior, habits, preferences, etc. On the other hand, the physical aspect of marketing management focuses on fulfilling these demands and needs to the customer and target audience. This involves purchasing better product design, finding out the best channel of distribution, etc.

The objectives of marketing marketing

The main functions of marketing management thus involve numerous activities, right from creating marketing objectives to analyzing and evaluation marketing operations. Thus, marketing management determines the organizational marketing objective of any firm. These objectives may either be long term or short term, depending on the needs of the organization.

1.     Planning

A significant function of marketing management is planning in accordance with the operations or functions so that the firm is able to achieve all its objectives. Thus, the planning process includes sales forecasting, marketing programmes formulation and marketing strategic analysis.

2.     Organization

After the policies have been formulated and plans have been made, what follows next is the implementation process. In the organization stage, the marketing manager collects and coordinates the various means that are needed to implement a plan and achieve the pre-defined organizational objectives. Thus, this also involves the structure of marketing, allocation of responsibilities to different members, etc.

3.     Coordination

Coordination basically means managing activities related to marketing, such as the forecasting of sales, planning the production process, determining supply chain, warehousing, etc.

4.     Direction

The next function to follow in the marketing management series is that of direction, and it also has a significant role to play in helping the organization achieve its goals. The marketing manager basically has to develop prospects for new markets, lead the workers, motivate them, guide and supervise them, and also boost the morale of all the employees who are involved in the process.

5.     Control

The next stage is that of controlling, which means to determine the organization standards, examine the actual performance, and then adapt suitable reforms of strategies so that corrective steps can be undertaken in case the actual performance does not match the standards that are expected.

6.     Staffing

The next stage in the marketing management function that follows control is staffing. In the staffing function, the marketing manager has to take part in staffing new employees for the organization, who have an expertise level that matches the needs of the organization. At the same time, staffing also involves providing training to their existing employees, so as to develop their skills and hone their talent. This not only keeps the employees happy but also helps the organization to meet its goals.

7.     Analysis and evaluation

The last stage in marketing management is to analyze and evaluate the entire planning process. In this stage, the marketing manager has to take an active part in the analysis and examination of the productivity of the firm, and also try to improve the performance of the workers. In this way, the entire process gets checked for a second time, and the marketing manager has the chance to rectify or modify the strategies, if necessary.

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Online marketing assignment help: dealing with marketing strategies

Marketing strategies refer to the plans that are made by a company with respect to the division and allocation of its valuable resources in different ways, so as to bring maximum profits for the company. This is done by positioning products or services that are offered by the company in such a manner that the explicit consumer groups are effectively targeted.

Basically, marketing strategies of a firm deal with and concentrate on the long terms objectives of a company, and thus they also take into consideration the planning of different marketing programmes so that the company can realize its long-term goals. It is no doubt then that marketing strategies form an important component of any business, and thus they find an important place for themselves in marketing assignments too. Students are often asked to prepare marketing assignments on the above topic, and thus understanding the basic elements of a marketing strategy plan is crucial. Online marketing assignment help providers can go a long way in helping students achieve their objective.

In simple words, a marketing strategy enables a firm to appropriate its funds in such a manner that the limited resources can be used to avail maximum opportunities related to increasing sales and attaining a sustainable competitive advantage at the same time. A marketing strategy involves strategies, tactics, and tasks that are required to help an organization move towards its goals.

1.     Product: A product also involves the decisions that a company makes about not just what the product is, but also about its name, characteristics, benefits offered, its possible variations, etc. When all these aspects are considered together to make a decision, it forms an important component of the marketing strategy.

2.     Price: This element of marketing is related to the price at which the product will be sold in the market, and also its comparison with the prices of other products that are available in the market. Since pricing is the most important factor which will contribute directly to the success of a firm, marketing strategies involve planning the price at which the product will be sold, possible discounts, offers, etc.

3.     Place: Place, or the channels of distribution that will be used to distribute the product to the customers, is yet another important and substantial aspect of marketing strategies. It is only with the help of marketing strategy plans that one can correctly determine the most appropriate channel of distribution of a product.

4.     Promotion: The last element of the marketing strategy plan is the promotion part. It includes making decisions about how the product or service will be promoted to the target market, the decision about the promotional schemes and events that should take place, selecting different channels of media like print, television, etc, for promotions, etc.

These marketing strategies are a field of study in itself, and not all students possess the required expertise to be able to deal with this concept in their assignments. Thus, students should feel free to seek online marketing assignment help in order to be able to complete their assignment error-free and in time.

Marketing assignment help: The role of advertisement in marketing

 Agree or not, advertisements do play an important role in our lives. Even though we might not consciously realize it, we are affected by advertisements in more ways than one, and seeing new things in these ads creates a need in our mind to possess these things, even when we might not actually need it. This is how companies achieve their objectives by successful advertising, and thus every marketing and MBA student should be well aware of advertising, what makes it effective, its role in marketing, etc. 

This is also why teachers demand students to conduct studies and surveys related to advertisements and include it in their marketing assignment. With the growing popularity of online assignment help providers, online marketing assignment help is also easily available now.

Television is an effective means that companies heavily rely on in order to promote their goods and services. A lot of companies give their ads on the television in order to increase awareness about their products among the audience and thereby targeting increased sales.  Depending on the company, and the product or service that it wants to advertise, the message that is advertised will obviously vary. Cases of effective advertisements that we see around us include those of Coco-Cola for instance, where each and every campaign that is started by the company not only helps it to increase the volume of its sales but also leaves an everlasting impact on the mind of the viewer.

Not every advertisement, however, can be said to be an effective one. In the marketplace, there are as many cases of ineffective advertisements as there are of effective ones. Consider the advertisements of Zungui Haixi Corp, a footwear manufacturing company, for instance.  The advertisements of this company are really ineffective because they do not provide the customers with significant and vital details about the product.

 Another excellent example of an ineffective advertisement is that of Dole. Even though Dole is a really large food based company, its advertisements are also ineffective because the advertisement often uses irrelevant tools and messages. 

The advertisement campaign of Marcus has not been very effective either. This food company does not provide much information about its products in it's advertisements. 

In conclusion, one can rightly state that even though from the possible means of promotion, such as advertisements in televisions, putting up of banners, distribution of free samples, etc., advertisements continue to be the mode that have the largest impact. This is precisely because they are able to reach a really large audience at the same time, and because visuals and audios also have a better impact than mere written matter. However, this being said, providing less information, ineffective presentation of matter, poor content, irrelevant messages, use of incorrect tools, etc. can all hamper the quality of the assignment, and lead to the advertisement turning ineffective instead. 

And when advertisements fail to leave an impact on the mind of the audience, the entire purpose of advertising the product goes into waste and the company only ends up wasting its valuable instead of using it to increase revenues.