Concept of Marketing Management - Learn Something New Each Day

 Marketing management is an important operative function of management. It performs all managerial functions in the field of marketing. It is responsible for planning, organizing, directing and controlling the marketing activities. It is required to build up appropriate marketing mix to achieve the objectives of the business.

Planning, production and control of entire marketing activity of a firm or a division of a firm, including the formulation of marketing objectives, policies, programmes, strategies and reappraising product development organization to carry out the plans, professional working operations and controlling performance”                         American Marketing Association

It is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with larger audiences for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product-price-promotion and place for achieving effective response”                                  Philip Kotler

As per the above definitions, marketing management is concerned with the direction of purposeful activities towards the attainment of marketing goals. The basic goals of marketing are satisfaction of needs of customers and generation of revenue for the business. Most of the big business enterprises organize the marketing activities separately under the charge of a marketing manager. The marketing manager looks after various aspects of marketing to achieve the objectives of marketing, viz., creation of customers and satisfaction of their wants and earning of profits. Marketing management attempts to contribute to the organizational objectives. It deals with planning, organizing, directing and controlling the activities related to the marketing of goods, ideas and services to satisfy the customers needs and contribute to organizational objectives.