importance of marketing management essay

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117 Marketing Management Essay Topic Ideas & Examples

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Marketing management is a crucial component of any business organization, as it involves planning, implementing, and controlling various marketing activities to achieve the company's objectives. As a marketing management student, you may be required to write essays on various marketing topics to demonstrate your understanding of the subject.

To help you get started with your marketing management essays, we have compiled a list of 117 essay topic ideas and examples that you can use for inspiration:

The role of marketing in achieving organizational goals
The impact of digital marketing on consumer behavior
The importance of market segmentation in marketing strategy
The role of social media in marketing communication
The concept of branding and its significance in marketing management
The influence of celebrity endorsements on consumer purchasing decisions
The effectiveness of influencer marketing in reaching target audiences
The role of customer relationship management (CRM) in marketing strategy
The impact of globalization on marketing management practices
The importance of market research in developing marketing strategies
The significance of pricing strategies in marketing management
The role of advertising in creating brand awareness
The impact of e-commerce on traditional marketing channels
The importance of ethical marketing practices in today's business environment
The role of product development in marketing strategy
The effectiveness of guerrilla marketing tactics in reaching consumers
The impact of cultural differences on international marketing campaigns
The role of data analytics in marketing decision-making
The importance of customer loyalty programs in retaining customers
The effectiveness of content marketing in attracting and engaging audiences
The significance of storytelling in marketing communication
The impact of environmental sustainability on marketing strategies
The role of customer feedback in improving marketing campaigns
The importance of personalization in marketing communication
The effectiveness of mobile marketing in reaching on-the-go consumers
The impact of influencer marketing on brand perception
The role of emotional branding in creating brand loyalty
The importance of social responsibility in marketing campaigns
The significance of customer retention strategies in driving long-term growth
The effectiveness of experiential marketing in creating memorable brand experiences
The impact of online reviews on consumer purchasing decisions
The role of customer service in building brand reputation
The importance of market positioning in competitive marketing environments
The significance of strategic partnerships in expanding market reach
The effectiveness of cause marketing in building brand authenticity
The impact of visual branding on consumer perception
The role of influencer partnerships in reaching niche audiences
The importance of market segmentation in personalizing marketing campaigns
The significance of customer lifetime value in marketing strategy
The effectiveness of omnichannel marketing in reaching consumers across multiple touchpoints
The impact of artificial intelligence on marketing automation
The role of chatbots in enhancing customer service experiences
The importance of voice search optimization in digital marketing
The significance of user-generated content in building brand credibility
The effectiveness of gamification in engaging audiences
The impact of virtual reality on immersive brand experiences
The role of augmented reality in enhancing product presentations
The importance of influencer authenticity in building trust with audiences
The significance of social proof in validating brand credibility
The effectiveness of referral marketing in driving customer acquisition
The impact of search engine optimization on website visibility
The role of pay-per-click advertising in driving website traffic
The importance of email marketing in nurturing leads
The significance of content marketing in establishing thought leadership
The effectiveness of social media advertising in reaching target audiences
The impact of video marketing on audience engagement
The role of customer reviews in influencing purchasing decisions
The importance of influencer partnerships in reaching new markets
The significance of affiliate marketing in driving online sales
The effectiveness of retargeting campaigns in converting leads
The impact of mobile marketing on consumer behavior
The role of location-based marketing in reaching local audiences
The importance of personalized recommendations in driving sales
The significance of mobile app marketing in engaging users
The effectiveness of chatbot marketing in automating customer interactions
The impact of social media influencers on brand perception
The role of user-generated content in building brand loyalty
The importance of influencer partnerships in reaching niche audiences
The significance of customer testimonials in building brand credibility
The effectiveness of social proof in validating brand authenticity
The impact of influencer authenticity in driving engagement
The role of influencer partnerships in enhancing brand awareness
The importance of influencer marketing in reaching younger demographics
The significance of influencer partnerships in driving online sales
The effectiveness of influencer collaborations in creating viral campaigns
The impact of influencer partnerships on brand visibility
The role of influencer marketing in creating authentic brand experiences
The importance of influencer endorsements in building brand trust
The significance of influencer partnerships in driving social media engagement
The effectiveness of influencer marketing in boosting brand awareness
The impact of influencer partnerships on audience reach
The role of influencer collaborations in generating user-generated content
The importance of influencer endorsements in building brand credibility
The significance of influencer marketing in driving website traffic
The effectiveness of influencer partnerships in converting leads
The impact of influencer endorsements on consumer purchasing decisions
The role of influencer marketing in creating brand loyalty
The importance of influencer partnerships in building brand authority
The significance of influencer collaborations in creating buzz around new products
The effectiveness of influencer marketing in generating social media buzz
The impact of influencer endorsements on brand sentiment
The role of influencer partnerships in enhancing brand perception
The importance of influencer marketing in creating emotional connections with consumers
The significance of influencer collaborations in driving brand advocacy
The effectiveness of influencer marketing in increasing brand visibility
The impact of influencer partnerships on brand storytelling
The role of influencer endorsements in building brand authenticity
The importance of influencer marketing in shaping consumer perceptions
The significance of influencer collaborations in fostering brand loyalty
The effectiveness of influencer partnerships in driving word-of-mouth marketing
The impact of influencer marketing on brand recall
The role of influencer endorsements in building brand equity
The importance of influencer partnerships in engaging new audiences
The significance of influencer collaborations in building brand trust
The effectiveness of influencer marketing in driving customer loyalty
The impact of influencer endorsements on brand reputation
The role of influencer partnerships in enhancing customer experiences
The importance of influencer marketing in creating memorable brand moments
The effectiveness of influencer endorsements in generating brand buzz
The role of influencer marketing in shaping consumer perceptions
The importance of influencer endorsements in building brand authenticity
The significance of influencer partnerships in driving brand engagement
The effectiveness of influencer marketing in increasing brand awareness
The impact of influencer collaborations on brand sentiment
The role of influencer partnerships in enhancing brand credibility

In conclusion, marketing management essays provide an opportunity for students to explore various marketing topics and demonstrate their understanding of key concepts and theories. By selecting a relevant and engaging essay topic from the list above, you can create a compelling and well-researched essay that showcases your expertise in marketing management. Good luck with your essay writing!

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importance of marketing management essay

Opinion and Features

Why is marketing management important to businesses?

The heart of any brand lies in its marketing efforts.

The revenue or customer engagement efforts of the company are largely dependent on how successful its marketing or advertising campaigns are. Therefore, effective marketing management is key to a brand’s reputation in the global market.

Contact us to know more

Philip Kotler, a renowned marketing guru, defines marketing management as:

“The process of bringing required changes to sales operations through the effective planning, implementation and analysis of marketing techniques.”

Simply put, it is the effective handling of marketing or branding campaigns that result in more sales or a better reputation for the company.

In today’s competitive business landscape, effective marketing management plays a pivotal role in the success and growth of businesses. With ever-increasing globalisation and rapidly evolving consumer behaviour, businesses need to learn the importance of a marketing strategy to stay ahead of the curve.

This blog explores the significance of marketing management, its role in business growth, the marketing management process, career opportunities in marketing management, and highlights the overall importance of marketing for businesses.

What is Marketing Management?

Marketing management is the process of planning, implementing, and controlling marketing activities to achieve organisational goals. Marketing management encompasses a wide range of tasks, including market research, target audience identification, product development, pricing, distribution, advertising, and customer relationship management.

At its core, marketing management aims to understand the needs and wants of customers and develop strategies to satisfy those needs profitably. By effectively managing marketing activities, businesses can create a strong brand presence, attract and retain customers, and generate revenue.

It is a multidimensional discipline that requires a combination of creativity, analytical skills, strategic thinking, and effective communication. It involves developing a marketing plan , setting goals, allocating resources, and monitoring the performance of marketing campaigns.

By employing effective marketing management practices, businesses can gain a competitive edge, expand their market share, and achieve sustainable business growth.

Importance of Marketing Management to a Business

Marketing management holds immense importance for businesses due to several key reasons:

1. Enhanced Customer Understanding

Marketing management enables businesses to gain a deep understanding of their target customers. Through market research and analysis, businesses can identify customer preferences, demographics, and buying behaviour.

This information helps in creating tailored marketing campaigns and delivering products or services that align with customer expectations, ultimately leading to increased customer satisfaction and loyalty.

2. Competitive Advantage

In a saturated market, businesses must differentiate themselves from competitors to gain a competitive edge. Marketing management allows businesses to develop unique value propositions, positioning strategies, and effective branding techniques.

By effectively communicating their unique selling points to the target audience, businesses can stand out in the market and attract more customers, leading to a sustainable competitive advantage.

3. Revenue Generation

Marketing management directly affects revenue generation by driving customer acquisition and sales. Well-executed marketing campaigns help businesses attract potential customers, generate leads, and convert them into paying customers.

Through targeted promotional activities, businesses can increase brand awareness, stimulate demand, and ultimately drive revenue growth.

4. Adaptability to Market Changes

The market landscape is constantly evolving, influenced by factors such as technological advancements, economic conditions, and shifting consumer preferences.

Marketing management enables businesses to stay agile and adapt to these changes. By monitoring market trends, conducting market research, and analysing consumer feedback, businesses can adjust their marketing strategies and stay relevant in the ever-changing market, ensuring long-term sustainability.

What are the processes involved in Marketing Management?

Effective marketing management involves a systematic approach comprising several key steps, such as,

1. Conducting thorough market analysis-

Before developing marketing strategies, businesses need to conduct a comprehensive analysis of the market. This involves studying market trends, competitor analysis, and identifying target customer segments.

Through market analysis, businesses gain insights into market demand, customer needs, and potential opportunities for growth.

2. Setting clear marketing objectives-

Clear and measurable marketing objectives are crucial for guiding marketing activities. Businesses need to define specific goals, such as increasing market share, expanding customer base, or launching new products.

Well-defined objectives provide a roadmap for the marketing team and ensure alignment with the overall business strategy.

3. Developing marketing strategies-

Once the objectives are set, businesses can develop effective marketing strategies. These strategies outline the approach to reach the target audience, position the product or service, and communicate the brand message.

It involves selecting the right marketing channels, pricing strategies, promotional activities, and distribution methods.

4. Implementation of strategies and sincere execution-

With the strategies in place, the marketing team executes the planned activities. This includes designing marketing campaigns, creating compelling content, managing advertising efforts, and coordinating with sales teams.

Effective implementation requires close collaboration between different departments to ensure consistency in messaging and brand representation.

5. Monitoring the implementations and continuous evaluation-

Continuous monitoring and evaluation are crucial to measure the effectiveness of marketing efforts. Key performance indicators (KPIs) such as customer engagement, lead generation, sales conversion rates, and return on investment (ROI) help assess the success of marketing campaigns.

Based on the insights gathered, businesses can make data-driven decisions and refine their marketing strategies for optimal results.

What are the successful careers in Marketing Management?

The field of marketing management offers diverse career opportunities for individuals with strong analytical, creative, and strategic skills. Some prominent career paths in marketing management are,

1. Marketing Manager-

Marketing managers are responsible for developing and implementing marketing strategies to achieve organisational goals. They oversee marketing campaigns, manage budgets, analyse market trends, and coordinate with cross-functional teams to drive business growth.

2. Digital Marketing Specialist-

With the rise of digital platforms, the demand for digital marketing specialists has surged.

These professionals specialise in online marketing channels such as social media, search engine optimisation (SEO), content marketing, and pay-per-click (PPC) advertising. They strategise and execute digital marketing campaigns to enhance brand visibility and drive online customer engagement.

3. Market Research Analyst-

Market research analysts gather and analyse data to help businesses understand market trends, consumer behaviour, and competitive landscapes. They conduct surveys, interviews, and data analysis to provide insights that inform marketing strategies and support business decision-making.

4. Brand Manager-

Brand managers are responsible for managing and maintaining a strong brand image. They develop brand strategies, oversee brand positioning, and ensure consistent brand communication across all marketing channels.

Brand managers work closely with creative teams and marketing specialists to build brand equity and drive customer loyalty.

What is the importance of marketing management for businesses?

Marketing plays a vital role in the success and growth of businesses. It is the bridge that connects businesses with their target customers, enabling them to create awareness, build relationships, and drive sales.

Some of the key benefits of marketing for businesses include,

Increased Brand Awareness- Effective marketing campaigns create brand awareness and recognition. By reaching out to the target audience through various channels, businesses can ensure their brand remains top-of-mind when customers make purchasing decisions.
Customer Acquisition and Retention- Marketing activities such as lead generation, advertising, and customer relationship management help businesses attract new customers and retain existing ones. Through personalised marketing efforts, businesses can build strong customer relationships and foster loyalty.
Business Growth and Expansion- Strategic marketing initiatives contribute to business growth and expansion. By identifying market opportunities, launching new products, and entering new market segments, businesses can tap into untapped potential and increase their market share.
Competitive Edge- Marketing provides businesses with a competitive edge by differentiating their offerings from competitors. Effective branding, unique value propositions, and targeted messaging allow businesses to stand out in crowded markets and attract customers.
Long-Term Sustainability- Marketing ensures the long-term sustainability of businesses by adapting to market changes, meeting customer needs, and staying ahead of the competition. By continuously analysing market trends and consumer behaviour, businesses can stay relevant and thrive in dynamic environments.

Apart from these benefits, learning effective marketing management strategies can allow you to remove the guesswork from your campaigns. You will be able to help your brand leverage the available marketing tools for the best customer engagement as a marketing manager.

In today’s rapid globalisation, marketing management is especially important for smaller businesses because it gives them a footing to compete with larger players in the field. Thorough customer research, creative campaigns and marketing strategies and positive branding can go a long way in providing a brand with an edge over its competition.

Moreover, a successful marketing management approach aligns businesses with market trends, enhances customer engagement, and contributes to overall business success. Embracing marketing management as a core function is essential for businesses to thrive and leave a lasting impact in their respective industries.

Hence, investing your time and efforts in learning marketing management from an international business management course can also brighten your career prospects within the advertising industry.

International business management graduates have become successful product managers, marketing managers, media planners and market researchers and achieved excellence with their skills. And what better place to pursue these skills from, than Gisma University of Applied Sciences!

Experience the captivating realm of international business and corporate global leadership with the MSc International Business Management offered by Gisma University of Applied Sciences.

Embark on a transformative journey that equips you with invaluable skills in cross-cultural leadership, international strategic management, marketing, and CEO decision-making. This comprehensive program encompasses all facets of the business landscape, enabling you to acquire the expertise necessary to secure an exhilarating position within a global organisation.

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This article is written by Sushree Saloni Rath.

Frequently Asked Questions

In the modern business world, marketing management plays a crucial role in achieving organisational goals and maintaining a competitive edge. Its primary objective is to identify and satisfy customer needs profitably through effective planning, implementation, and control of marketing activities.
The main points of marketing management include market research, product development, pricing, distribution, promotion, and customer relationship management.
Marketing is important for businesses as it helps in creating awareness, generating sales, building brand reputation, understanding customer preferences, and adapting to changing market dynamics.
Marketing management in business involves strategising and executing marketing efforts to drive business growth and profitability.
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Marketing Management: What is it, it’s Importance and Process!

Have you ever had sleepless nights thinking about your new product launch, waiting in anticipation, and questioning yourself – Did I make the right choices? Did I do enough? What if my product fails? It is a hellish time for all people in business.

And then you find yourself wondering how other businesses just climb to the top of the ladder so effortlessly! How are they doing it?

That’s where marketing management plays its part. It ensures that no matter what happens, your product will be given the best chance to survive in the market.

Mind you, it’s not an easy process. But like they say “No pain no gain”.

So, let’s find out more about the whole deal with marketing management, so you can start implementing it in your business and reach the top just like the others.

Dive in, folks!

What is Marketing Management? (Definition)

First, let’s look at what marketing management is from the eyes of a famous marketing author and consultant, Philip Kotler . According to him, “Marketing management is the analysis, planning, implementation and control of programs designed to bring about desired exchanges with target markets for the purpose of achieving organizational objectives.”

To understand this in a simpler sense, we can say that marketing management is the process of planning and executing the formulation, pricing, promotion, and distribution of goods and services to achieve organizational goals. It’s basically the practical application of marketing techniques, strategies, and methods .

Marketing management usually starts with understanding the customers or the market and creating a product that will ultimately satisfy their needs. This process covers everything from pricing, advertising, and promotion to sales and distribution.

And today, it is the most important function in a commercial and business enterprise. Why? Let’s find out!

Importance of Marketing Management

Every single thing about marketing management screams development and improvement. Each step in the entire process is beneficial to your business. In this competitive world, your marketing management is extremely important because it will help you float to the top. Here’s how:

1. Introduces New Products

In marketing management, you start by identifying your target market and analyzing your market. This helps you understand the needs of your consumers, based on which you can introduce or launch new products with an effective marketing campaign .

In addition to that, you can study customer interactions and buying patterns to learn more about your ideal customer and how to pique their interest in your products or services. As a result, it helps you create brand awareness and increase visibility for your business.

2. Boost Sales

Good marketing management helps you match your capabilities and resources with the needs of the consumers. With this, you can plan and implement a successful marketing strategy and then reach out to customers.

It will enable you to find new customers and retain the current ones . This will boost your sales and increase revenue. Not just that, with strategic planning and implementation, good marketing management also helps reduce costs and expenses.

3. Builds Reputation

Marketing management ensures that your company’s reputation remains unharmed because, without it, your business will struggle to handle PR blunders or remain updated with the latest trends.

Good marketing management can help identify the best opportunities to pursue and threats to steer clear from. It will help you expand to different audiences based on past experience through advertising and customer engagement. This will help improve the reputation of the company!

4. Aid in Business Decisions

Having proper marketing management means that you will have an excellent marketing team that has insights into consumer behavior, buying patterns, and the latest marketing trends. This helps you make better decisions in the short run and the long run.

Each time you are faced with a dilemma or looking for ways to improve your goods and services or even considering making the next big move in your business, your marketing management plan will always have your back.

5. Helps Compete with Big Companies

If you are a small business in a competitive industry, then good marketing management is all you need to level up to bigger competitor companies.

This is because it analyzes market behaviors and competitor trends and helps your business focus on areas that are being underutilized by other companies or doing something unique and fresh. As a result, your business can stand out and emerge as a solid competitor in your industry , or even surpass them in certain cases.

In addition to all this (and more), good marketing management will guarantee an increase in revenue and expansion of your business.

Enough about why it’s important, now let’s get down to the real stuff – how does marketing management work? What are the processes involved? The answers are below! So, pay close attention, fellow marketers. You are going to need this! Let’s go!

The Process of Marketing Management

1. conduct market research.

The first step in the marketing management process is conducting market research and market analysis. You can do this by gathering consumer data, doing surveys, conducting interviews, assessing the economic patterns, etc.

You can also collect your current consumer data and previous marketing campaigns’ KPIs . If you want, you can even rely on the traditional SWOT analysis of identifying your company’s internal strengths, opportunities, weaknesses, threats, etc.

Based on all the research, you can get a full understanding of your target customer, their needs and pain points, the trends in consumer buying patterns, and how to offer a product or service to meet the market demands.

It also helps you identify areas where your business could succeed, highlights potential challenges that your business needs to address, and forecast the future potential.

2. Set Marketing Objectives

No process can ever continue without setting objectives and goals because they set the very foundation of your entire marketing journey. That’s why the marketing management process also involves setting achievable marketing objectives or goals and creating a benchmark to measure success.

You set your marketing objectives based on different factors that influence customers in your target market such as market demand, buying patterns, social, political, environmental factors, etc. Try to include sales goals, budgeting expectations, brand development plans, etc. while creating your goals.

Setting these marketing objectives and goals provide you with a clear path to follow, and also acts as a roadmap for your marketing plans and strategies. In the end, it also helps you compare and measure your achievements and results.

3. Develop a Marketing Strategy

Now that the market research is done and the marketing objectives are set, the next logical step in a marketing management process is to develop a marketing strategy . The decisions made in the strategy focus on which markets to target and how to position your products for existing and new customers in relation to your competitors.

A marketing strategy usually consists of:

Segmentation – Where you segment or divide the market to identify a similar set of customers who are likely to respond to your marketing program.
Targeting – Where the segments are further divided so that you can focus on a very specific target to produce new products and services.
Positioning – Where your brand’s image is perceived in terms of quality or price or value and is positioned in the minds of the target market.
Marketing mix – Utilizing the elements of the marketing mix – product, price, place (distribution), and promotion to deliver customer satisfaction and achieve organizational goals.

In addition to this, competitor’s strategies, environmental changes, financials, and production should also be analyzed to form a marketing strategy.

A well-developed marketing strategy clearly defines responsibilities, ensures the smooth functioning of the marketing process, makes profits, and helps achieves organizational objectives.

Read more: Go-To-Market Strategy Guide for Businesses

4. Make a Marketing Plan

Once a marketing strategy is developed, the next marketing management process is to make a written marketing plan . This is to analyze where the company is and where it wants to reach in a given period of time.

With a plan on paper, you can refer to it anytime and analyze whether your marketing management process is on the right path or not, and also keep track of your company’s progress.

To make a marketing plan, you have to first focus on the business environment analysis and your company’s internal analysis. Then, you have to form a strategic plan that outlines the pros and cons of your marketing strategy.

After this, you move on to the financials where you forecast sales and expenses and plan the budget for your marketing strategy . Then you plan your implementation process by focusing on product and pricing strategies. Finally, follow-up is done to ensure that your marketing strategy is on track.

5. Implement Marketing Program

The next step is one of the most important steps in the marketing management process – Implementation. You can say that it is putting your marketing strategies and plans into action and executing them in a way that you achieve all your marketing objectives and goals.

Start your implementation process by identifying how and when you will launch your planned strategy. You can do this by persuading customers about your products or services through various methods like advertising, sales promotion , public relations, etc. Then you can allocate your resources such as cash and staffing to market your product, organize people to execute your tasks, and manage all the minor details for each goal.

It is important that you follow your plan meticulously and share an understanding within the organization of your marketing vision.

The final stage of the marketing management process is to monitor and track the progress of your campaigns. This step requires you to regularly measure and evaluate the results of your planning and strategize to make sure that everything is on track.

It includes looking at your revenue, sales, customer satisfaction and feedback, the number of website visitors, etc. This helps answer many questions like: Did your planning and strategy work? Do your goals and results match? What changes have to be made?

Monitoring is not just about introspection, it is also about keeping tabs on the actions of your competitors and making a comparison to get a better insight into where you are standing in the industry. It helps answer questions like: How does the success of your product affect the price of similar items on the market? Are there new products in the market that are providing a greater value?

Good marketing management also makes use of various organizational control systems, such as sales forecasts, sales force management systems, CRM tools , etc. to track the various aspects within your company to see if the marketing objectives set are being achieved.

These steps above complete the marketing management process. It might not seem like a lot, but it involves a heck of a lot of work!

But hey, what if there is a tool out there that can make your marketing management process a seamless and effortless experience? Seems too good to be true? Then wait till you hear more about it! Find out in the next section!

Read more: Marketing Brief: How to Write it? (A Step-By-Step Guide)

Bit.ai : Perfect Tool for Carrying Out Your Marketing Management Process

A process as big and complex as that is bound to create chaos and confusion. Not to mention the endless number of meetings and discussions for each step involved. Truth be told, it’s going to be exhausting.

That’s why we introduce to you Bit.ai ! It is a new-age cloud-based documentation and workplace collaboration tool that makes anything and everything related to workplace collaboration a fun and exciting process!

Not sure what you are getting yourself into? Take a look at some of these awesome features that Bit provides to make your marketing management process hassle-free!

1. Infinite Workspaces

Your marketing management process will involve working with multiple teams across different departments while dealing with loads of information. This can cause complete mayhem.

But, not if Bit can help you out. It lets you create infinite workspaces and folders around projects and teams to keep all your work organized. This lets you store all your information in a neat and orderly manner, making your work more efficient.

2. Real-Time Collaboration

The marketing management process is a team effort and has multiple areas that need attention. In moments like those, Bit’s real-time collaboration feature is truly a blessing. With Bit, you and your team can collaborate and work simultaneously on the same document in real-time. You can suggest edits, ask questions with real-time mentions and comments, and work together.

3. Document Templates

With Bit, your marketing management team can create umpteen number of marketing-related documents. Be it a marketing plan, product requirements plan or a performance report, Bit has templates for everything. Its extensive template gallery offers over 70+ templates for you to choose your favorite one!

It comes with an auto-formatting feature, which automatically formats your entire document uniformly! It even provides you with its own collection of themes and you can change the color of the document with just a click!

4. Interactive Documents

Bit supports over 100++ file formats in its documents, which means that you can add any kind of rich media such as videos, presentations, charts, maps, surveys and so much more to your documents and make them come to life! This will make your marketing-related documents much more interactive and engaging!

5. Live Sharing & Other Features

You can use Bit’s live sharing feature to share any of your marketing-related documents in a live state with anyone that you want. All the changes that you make to the report get updated in real-time as well. This is a great advantage when you are working with multiple teams and departments to carry out tasks that need constant updates. Bit also has features like document tracking, password protection, file access restrictions , etc. which will help you keep your documents safe.

All-in-all, Bit is the dream tool for your entire company as it makes the entire marketing management process much easier and that too in a more modern, fun, and interactive manner! So, what are you waiting for? Do yourself a favor and get Bit right now!

Our team at bit.ai has created a few awesome marketing templates to make your marketing process more efficient. Make sure to check them out before you go, y our marketing team might need them!

Content Calendar Template
Creative Brief Template
Product Launch Marketing Template
Partnership Marketing Plan Template
Marketing LaunchPad
Customer Survey Template
Company Fact Sheet
Brand Style Guide Template

Behind every great business, there is a great marketing management team that follows the right marketing management process.

Because, with the right process, you can execute and achieve your goals effectively and efficiently.

That’s why marketing management forms the heart and soul of your business. It will forever be a living, long-term, and evolving part of it too.

Where would we be without it? We can only shudder at the thought of it.

So here’s to marketing management and business life. Cheers!

Further reads:

Reputation Management: What is it & How to Do it?

Management Report: What is it & How to Create it?

Marketing Resume: How to Write One to Impress Recruiters!

14 Guerrilla Marketing Examples & Ideas You Must Explore!

9 Best Campaign Management Tools & Software in 2022

7 Types of Reports Your Business Certainly Needs!

10 CRM Tools and Software You Should Explore Right Now!

13 business goals you must set in 2023, google’s recommended meta description length, what is change management and how to cope with it, 10 reminder apps & software to help you out, brand assets: what are they & why are they important, 25 insane instagram stats that will shock you.

About Bit.ai

Bit.ai is the essential next-gen workplace and document collaboration platform. that helps teams share knowledge by connecting any type of digital content. With this intuitive, cloud-based solution, anyone can work visually and collaborate in real-time while creating internal notes, team projects, knowledge bases, client-facing content, and more.

The smartest online Google Docs and Word alternative, Bit.ai is used in over 100 countries by professionals everywhere, from IT teams creating internal documentation and knowledge bases, to sales and marketing teams sharing client materials and client portals.

👉👉Click Here to Check out Bit.ai.

Essay on Marketing: Top 9 Essays on Marketing

Essay on‘Marketing’. Find paragraphs, long and short term papers on ‘Marketing’ especially written for school and college students.

Essay on Marketing

Term Paper Contents:

Essay on the Challenges and Opportunities of Marketing

Essay # 1. Introduction to Marketing:

ADVERTISEMENTS:

Marketing is everywhere. Everything from presenting yourself for a job interview to selling your products includes marketing. Main objective of any company is to gain profits which can be achieved only through marketing of the products. Marketing enables the companies to create demand and earn profits. If these two aspects are not taken care of, then the company will not survive in the market.

“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (American Marketing Association)

“Marketing is a social process by which individuals and groups obtain what they need and want through creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.” – (Philip Kotler)

Thus it can be safely said that a company reaches its customer through marketing and communicates to them about the products and services offered by the company.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 2. Evolution of Marketing :

In earlier days, an organization was mainly concerned with production of goods. It used to believe on mass production and paid less or negligible attention on quality of the product and the customer’s demand.

After some time, the focus of organization shifted from production of the product to the sale of the product. The concept of marketing emerged gradually in 1970’s after the production and sales era. It took many years for organizations to realize that a customer is the key for making profits in the long run. The marketing concept is evolved through various stages.

These stages are explained below:

1. Production Era :

The production era began with the Industrial Revolution in the 17th century and continued till 1920s. Say’s law – Supply creates its own demand – was applicable in this era. The demand for products was more than the supply in the market; thus, it was a seller’s market. In the production era, the main aim of an organization was to manufacture products faster and at low prices. In this era, customers were concerned only about the availability of products and no importance was given to features and quality of products.

2. Sales Era :

The sales era came into existence in 1920s and continued till the mid of 1950s. This era was marked by the great depression of 1923. The depression proved that manufacturing products was not everything because the sale of the products was also important for organizations to earn profit.

Thus, the need for developing promotion and distribution strategies emerged to sell products. The organizations started advertising their products to increase their sales. Many organizations created specialized market research departments to collect and analyze the prevailing market data.

3. Marketing Era :

The sales era merely focused on selling the goods and ignored the consumers’ needs and demands. The year 1970 marked the advent of marketing era. In the marketing era, organizations realized the importance of customers and started designing the products as per customers’ needs.

Therefore, the marketing era led to the development of customer-centered activities over the production and selling activities. Organizations came up with different techniques, such as customer survey, to collect and analyze data for understanding the customer’s expectations, needs, and wants.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 3. Approaches to the Study of Marketing:

The meaning of marketing is different to different people. In common parlance, marketing is the process of selling something at a market place. To a salesman it means selling whereas to an advertising manager it means advertising. To some it means the study of individual commodities and their movement in the market place, to some others marketing means the study of institutions and persons who move their products or study of the economic contributions.

Thus, there are different approaches to the study of marketing:

1. Commodity Approach:

The commodity approach focuses a specific commodity and includes the sources and conditions of supply, nature and extent of demand, the distribution channels used and the functions, such as buying, selling, financing, advertising storage etc. various agencies perform. Prof. Paul Mazur defined as “the delivery of a standard of living to society. Prof. Malcolm McNair expanded the definition to “the creation and delivery of a standard of living”.

2. Institutional Approach:

The institutional approach focuses on the study of various middlemen and facilitating agencies.

3. Functional Approach:

The functional approach considers different kinds of functions recognized for their repetitive occurrences and necessarily performed to consummate market transactions. Converse, Huegy and Mitchell define marketing as the “business of buying and selling and as including those business activities involved in the flow of goods and services between producers and consumers.” American Marketing Association, perhaps, gives more factual or descriptive definition. It defined marketing as the performance of business activities that direct the flow of goods and services from producer to consumer or user.

4. Managerial Approach:

The managerial approach concentrates on the decision making process involved in the performance of marketing functions at the level of a firm. Howard, Phelps and Westing and Lazo and Corbin are the pioneers of the managerial approach.

5. Societal Approach:

The societal approach consider the interactions between the various environmental factors (socio-logical, cultural, political, legal) and marketing decisions and their impact on the well- being of society. Kotler, Feldman and Gist, were the main proponents of the societal approach.

6. Systems Approach:

The systems’ approach is based on Von Bartalanffy’s general systems theory. He defined system as a “set of objects together with the relationships among them and their attributes”. This approach recognizes the inter-relations and inter-connections among the components of a marketing system in which products, services, money, and equipment and information flow from marketers to consumers that largely determine the survival and growth capacities of a firm.

7. Modern Concept:

The new managerial awareness and desire reflected in the consumer orientation for all all-out commitment to the market consideration and to connect all marketing operations to the consumer needs has given birth to a new operational concept. Felton views the marketing concept as “a corporate state of mind that insists on the integration and coordination of all marketing functions that, in turn, are welded with all other corporate functions, for the basic objective of producing maximum long-range corporate profits.

According to Kotler, the marketing concept is a customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organizational goals. According to McNamara,” marketing concept is … a philosophy of business management, based upon a company- wide acceptance of the need for customer orientation, profit orientation, and recognition of the important role of marketing in communicating the needs of the market to all major corporate departments”.

Lazo and Cobin describe marketing concept as ” the recognition on the part of management that all business decisions of a firm must be made in the light of customer needs and wants; hence, that all marketing activities must be under one supervision and that all activities of a firm must be coordinated at the top, in the light of market requirements”. King has given one of the most comprehensive descriptions of the marketing concept. He defined it as, “a managerial philosophy concerned with the mobilization, utilization and control of total corporate effort for the purpose of helping consumers solve selected problems in ways compatible with planned enhancement of the profit position of the firm”.

These definitions suggest that marketing is only concerned with the movement of goods and services from the plant to the consumer. This is thus a production-oriented definition more appropriate for a sellers’ market and dangers in case of buyers’ market. In fact, marketing is related with the sophisticated strategy of attempting to offer what the consumer may want and at a profit.

ADVERTISEMENTS: (adsbygoogle = window.adsbygoogle || []).push({}); Essay # 4. Objectives of Marketing:

According to Peter F. Drucker, “Marketing means such a perfect understanding of the customer that the product fits him totally and sells itself. Marketing would result in a customer who is ready to buy all that, what should be needed then is to make the product available.”

Organization’s marketing strategies are designed in tune with various marketing objectives.

The objectives of marketing aim at:

1. Creating demand for the products by identifying the needs and wants of customers. The consumers get familiar with the usage of products through different promotional programs, such as advertising and personal selling. This helps in creating demand for the products by the customers.

2. Increasing the market share of the organization. The marketing efforts, such as promotion, create the product awareness in the market. The product awareness helps in capturing the reasonable share in the market by organization.

3. Building the goodwill of the organization in the market. Every organization tries to earn reputation in the market by providing quality goods to the customers. It builds its goodwill by popularizing products supported by advertising, reasonable prices, and high quality.

4. Increasing profits and achieving long-term goals through customer satisfaction. All the marketing activities revolve around the customer. These activities fulfill the organization’s long-term goal of profitability, growth, and stability by satisfying the customer’s demands. All the departments, such as production, finance, human resource, and marketing, coordinate with each other to fulfill the customer’s expectations keeping the maximization of profit as the focus.

Essay # 5. Marketing Process:

Marketing Process —– The marketing process is one that involves the following chain of business activities:

1. Identification and study of the desires, needs, and requirements of the^ consumers;

2. Testing the validity of the consumers’ reaction in respect of product features, price, distribution outlets, new product concepts, and new product introduction;

3. Matching the consumers’ needs with the firm’s offerings and capabilities;

4. Creating effective marketing communications and programmes with emphasis on lower price, mass distribution channels and mass advertising to reach numerous market segments so that the consumers know about the product’s availability; and

5. Establishment of resource allocation procedures among the various marketing components like sales promotion, advertisement, distribution, product design, etc.

Outline of functions in the Marketing Process : In order to place the goods in the hands of the consumers, an integrated group of activities is involved in marketing. Marketing functions cover all those activities which are required for the journey of goods from the producer to the consumer. Goods require some preparations, undergo many operations and pass several hands before they reach the final consumer.

In consideration of the above factors, Clark has divided the modem marketing process into three broad categories as under:

(i) Concentration

(ii) Dispersion

(iii) Equalisation.

These are explained below.

1. Concentration – In a marketing process, concentration is that business activity in which the goods flow from many manufacturers/producers toward a central point or market. If we think of international trade, we find that the customers of a particular corporation or firm world reputation are scattered in different countries and even located thousands of miles, away, and the products are transhipped to points accessible to than. Similar scene is found even in the case of national trade. With the development of trade and commerce, the efforts in the direction of concentration activity have to place more stress on the functions like collection, storage, transportation and inventory of goods in the central markets, and processing of customer’s orders. In addition, the aspects of financing and risk-bearing are also to be taken into consideration.

In India, the concentration activity is undertaken by the Governments at the Central and State levels. Food example, The Food Corporation of India undertakes this activity in case of grains, rice, sugar, etc.

2. Dispersion – In a marketing process, dispersion is that business activity in which the goods flow from the central locations to the final consumers. The wholesalers and retailers play a great role in this activity. This activity involves many other supporting activities like classification, gradation, storage and transportation of goods. The functional aspects of finance and risk-bearing need important considerations.

In India, the agencies like The State Trading Corporation of India, The Minerals and Metals Trading Corporation of India, and The Food Corporation of India undertake this dispersion or distribution activity in respect of certain specified goods. Sane large scale manufacturing companies have, of late, undertaken this activity as a part of their marketing activities.

3. Equalisation – In a marketing process, equalisation refers to the adjustment of supply to demand on the basis of tint, quality, and quantity. This process helps to maintain the state of equilibrium between the forces of demand and supply. The primary responsibility of a business unit towards the consumers and customers is to make available the right products of right qualities at the right tine, in right quantity, at the right place and at the right price. The equalisation activity can serve these objectives.

Essay # 6. Integrated Marketing Communication Process:

Marketers operate is a very dynamic environment characterised by changing customer needs and wants, severe competition, changing process technology, advancements in information technology, government regulations, etc. That is why, they are adopting Integrated Marketing Communication (IMC).

Integrated Marketing Communication (IMC) involves integration of company’s various communication channels to deliver a clear, consistent and compelling message about the company and its products and brands. Most of the companies communicate with target customers by using promotion tools like advertising, personal selling, sales promotion, public relations and direct marketing. Through each of these tools, some message is transmitted to the target customers. IMC calls for careful blending of these promotional tools to ensure effective communication.

Integrated Marketing Communication (IMC) requires developing a total marketing communication strategy that recognises that all of a firm’s marketing activities (not just promotion) communicate with its customers. Everything a marketer does sends a message to the target market.

The EMC approach is an improvement over the traditional approach of treating various promotional activities as totally separate. It helps to develop the most suitable and effective method to contact customers and other stakeholders.

Often different tools play different roles in attracting, informing and persuading target customers. These tools are carefully coordinated under IMC so that they provide the same clear and consistent information about the company and its products/brands.

IMC leads to a total marketing communication strategy aimed at building strong customer relationships by showing how the company and its products can help customers solve their problems. It ties together all of the company’s messages and images.

The company’s television and print advertisements have the same message, look, and feel as its e-mail and personal selling communications. And its public relations materials project the same image as its Website or social network presence.

Communication Process:

Definition of Communication:

The term ‘communication’ is derived from the Latin word ‘communis’ which means common. That means if a person communicates with another, he establishes a common group of understanding. According to Newman, Summer and Warren, “Communication is an exchange of facts, ideas, opinions or emotions by two or more persons”.

Communication does not mean merely sending or receiving message. It involves understanding also. It is, in fact, a bridge of meaning and understanding between two or more people. Thus, communication is a two- way process.

The salient features of communication are as follows:

(i) Communication involves at least two persons—one who sends the message and the second who receives the message.

(ii) Communication is a two-way traffic. The process of communication is not completed until the message has been understood by the receiver. Understanding is an essential part of communication, but it does not imply agreement.

(iii) The basic purpose of communication is to create an understanding in the mind of the receiver of information.

(iv) Communication may take several forms, e.g., order, instruction, report, suggestion grievance, observation, etc. The message may be conveyed through words spoken or written, or gestures.

Elements of Communication:

Communication is a process involving exchange of facts, viewpoints and ideas between persons placed in different positions in the organisation to achieve mutual understanding as shown in Fig. 11.5. The communication process starts when the sender or communicator has a message communicate to some other person known as receiver. It will be completed when the receiver gets the information and sends feedback to the communicator.

The essential elements of communication are described below:

(i) Sender or Communicator:

The person who conveys the message is known as communicator or sender. By initiating the message, the communicator attempts to achieve understanding and change in the behaviour of the receiver. In case of marketing it is the marketer (sender) who starts the communication process.

(ii) Message:

It is the subject-matter of any communication. It may involve any fact, opinion or information. It must exist in the mind of the communicator if communication process is to be initiated. In marketing, the marketer’s message relates to product, price and place.

(iii) Encoding:

The sender of information organises his idea into a series of symbols (words, signs, etc.) which, he feels, will communicate to the intended receiver or receivers. This is called encoding of message. Communication may take place through physical gestures also.

(iv) Media or Communication Channel:

The communicator has to choose the channel for sending the information. Communication channels are the media through which the message passes. It may be either formal or informal. In marketing, media may be salespersons, advertisement and publicity.

(v) Receiver:

The person who receives the message is called receiver. The communication process is incomplete without the existence of receiver of the message. It is the receiver who receives and tries to understand the message. The receiver in case of marketing is the prospective or present customer.

(vi) Decoding:

After the appropriate channel or channels are selected, the message enters the decoding stage of the communication process. Decoding is done by the receiver. Once the message is received and examined, the stimulus is sent to the brain for interpreting, in order to assign some type of meaning to it. It is this processing stage that constitutes decoding. The receiver begins to interpret the symbols sent by the sender, translating the message to his own set of experiences in order to make the symbols meaningful.

(vii) Response:

Response refers to the set of reactions that the receiver has after being exposed to the message. In case of advertising, a response may mean developing a favourable attitude towards the product as a result of an advertising campaign. However, in many cases, measuring such responses is not easy.

(viii) Feedback:

Communication is completed when the communicator receives feedback information from the receiver. The feedback may reveal that the receiver has understood the message. It may also contain information about the action taken by the receiver on the basis of message sent by the communicator. Thus, feedback is the backbone of effective communication.

(ix) Noise:

Noise is a very common thing we observe in our day-to-day interaction with others. At times it affects adversely the effectiveness of communication. For example, if a person is talking over the phone to another and there is a noise around him, he will feel great difficulty in listening to the person at the other end of the phone. Even the noise can affect the voice of the sender of the message.

Hurdles or Difficulties in Marketing Communication:

There are four factors which might create hurdles or problems in communication between the marketer and the target customer.

These hurdles include noise, selective attention, selective distortion and selective retention as discussed below:

Noise is a sort of interfering sound in the communication process anywhere along the way from the sender to the receiver and vice versa. It can be sound of running bus, two persons talking close at hand or someone shouting around. Noise of any kind has the potential of creating disruption or barrier to effective communication. The sources of noise can be both internal and external. Noise within the office can be controlled, but it is very difficult to control the external noise.

Noise is one of the biggest obstacles in marketing communication. For example, a driver’s need to provide safety to the traffic sidetracks the role of billboards, banners, etc. during disturbed weather conditions —wind, dust storm, rain, etc. Similarly, too much advertisement exposure during the day of purchase of tyre for a car, would disturb the planned purchasing.

These constitute noise in the communication process. The level of noise may not allow a customer to receive the message as intended. The effectiveness of communication depends upon the level of congruity and compatibility between different elements of the communication.

(ii) Selective Attention:

A person may be exposed to hundreds or thousands of ads or brand communications in a day. Because a person cannot possibly attend to all of these, most stimuli will be screened out. This process is called selective attention. Because of this, the marketers have to work hard to attract consumer’s notice. Generally, people are more likely to notice stimuli that relate to a current need.

Thus, a person who is motivated to buy a car is most likely to notice car ads. The process of selective attention explains why advertisers make extra efforts to grab the audience’s attention through fear, music, or bold headlines.

(iii) Selective Distortion:

Selective distortion is the tendency to interpret information in a way that fit one’s perception. Consumers often distort information to be consistent with prior brand and product beliefs. Thus, the target audience will hear what fits into their belief systems.

As a result, receivers often add things to the message that are not there and do not notice other things that are there. The advertiser’s task is to strive for simplicity, clarity, interest and repetition to get the main points across.

(iv) Selective Retention:

People retain in their long-term memory only a small fraction of the messages that reach them. If the receiver’s initial attitude towards the brand is positive and he rehearses support arguments (that is, tells himself things such as the product is in fashion or that it is reasonably priced or that it delivers good value, etc.), the message is likely to be accepted and have high recall.

If the initial attitude towards the brand is negative and the person rehearses counter arguments (that is, tells himself that the product is highly overpriced or that the competing products offer more value to customers or that the brand is not doing well in the market, etc.) the message is likely to be rejected but to stay in long-term memory.

Thus, the advertiser’s task is two-fold here. He not only has to create an initial favourable attitude towards the brands but also through his ads communicate to the audience strong points about the brands so that the customers can rehearse the same and the brand is positively placed in the long-term memory of the customers.

Essay # 7. Role of Marketing in Economic Development :

In today’s era of globalization role of marketing is increasing to fulfill different needs and requirements of people. Due to increase in scale of production and expansions of markets, producers need support of marketing tools to distribute their goods and services to the real customer.

High competition in market and product diversification has increased the marketing activities like advertising, storage, sales promotion, salesmanship etc. Now high profits can be attained by high sales volume and good quality of products and services. Marketing has acquired an important place for the economic development of the whole country. It has also become a necessity for attaining the objective of social welfare and high quality of life.

The importance of marketing can be explained as under:

(a) Importance of Marketing to a Firm:

Marketing is considered to be the prime activity among all the business activities. Success of any business depends on success of marketing. Peter F. Drucker has rightly said that, “Marketing is the business.” Objective and goals of any organization can be achieved through efficient and effective marketing polices. The success of an enterprise depends to a large extent upon the success of its marketing activities.

The importance of marketing to the firm can be explained as under:

1. Marketing in Business Planning and Decision Making:

Marketing research is helpful in searching opportunities and potential in market. It is necessary for an organization to decide what can be sold before deciding that what can be produced. Unless and until these key decisions are taken, it is not practical to take the decisions regarding production, quality of product, type of product and quantity of production etc.

Marketing is very helpful in taking all such decisions therefore its plays an important role in business planning. Marketing provides valuable information regarding production policies, pricing policies, advertisement and sales promotion policies of competitors, so that a suitable policy may be formulated by the top management.

2. Increase in the Profits:

The main objective of every firm is to increase the profitability by successful operations of its activities. Maximization of profits can be possible only through the successful operations of its activities. Marketing department need the help of other departments as well for discharging its duties successfully, marketing department coordinate with other departments like finance, production, to fulfill the needs of customers and regular supply according to market demand.

3. Flow of Marketing Communication:

Integrated marketing communication makes it possible to flow marketing information to intermediaries, publics and customers. Marketing acts as a medium of communication between the society and the firm. Various information regarding trends, needs, attitudes, fashions, taste preferences etc., are collected by marketing department.

(b) Importance of Marketing to the Society:

1. To Uplift Standard of Living:

Ultimate objective of marketing is to produce goods and services for the society according to their needs and tastes at reasonable prices. Marketing discovers the needs and wants of the society, produces the goods and services according to their needs, creates demand for these goods and services encourages consumers to consume them and thus improves the standard of living of the society. By advertising utility and importance of products and services are communicated to the people.

2. To Decreases the Total Marketing Cost:

Next important responsibility of marketing is to control the cost of marketing. Distribution cost and production cost can be decreased by creation of high demand in market. Decrease in cost of production will have two impacts, firstly the high profitability of organization and secondly to increase in the market share of the firm.

3. Increase in the Employment Opportunities:

Marketing provides direct and indirect employment in society. Employment opportunities are directly related with the development of marketing. Successful operation of marketing activities requires the services of different enterprises and organizations such logistics, warehousing, transportation, retailing finance, etc.

4. In controlling Business Fluctuations:

Business fluctuations like recession and depression causes unemployment, and deflation. Marketing helps in protecting society against all these problems. Marketing helps in innovation and discovery of new markets for the goods, modifications and alterations in the quality of the product and development of alternative uses of the product. It reduces the cost of production and protects the business enterprise against the problem of recession.

5. Increase Per Capita Income:

Marketing operations create, maintain and increase the demand for goods and service. Marketing activities flow money from one part of economic system to other. By generation of new employment opportunities it helps to increases income of people.

Marketing plays an important role in the development of a country. Most of developed countries like USA, Japan, and Germany are having strong marketing system, they are moving towards global marketing. Industrial growth and development need support of marketing, large scale of production requires new markets. In these countries, the production exceeds the demand it need marketing system to be much more effective so that the produced goods and services can be sold.

Marketing has a vital role to play in the development of an underdeveloped and developing economy. In developing economies the industrialization and urbanization is increasing at a faster rate and so the importance of marketing is also increasing as it is required for selling the produced goods and services. A rapid development of underdeveloped economy is possible only if the modern techniques of marketing are used in these countries marketing activities are increasing at a fast rate in developing countries.

Essay # 8. Importance of Marketing :

Role of Marketing in a Firm :

Efficient marketing management is a pre-requisite for the successful operation of any business enterprise. A business organisation is differentiated from other organisations by the fact that it produces and sells products.

The importance of marketing in modern business is discussed below:

Marketing is the beating heart of the business organisation. The chief executive of a business cannot plan, the production manager cannot produce, the purchase manager cannot purchase, and the financial controller cannot budget until the basic marketing decisions have been taken. Many departments in a business enterprise are essential for its growth, but marketing is still the sole revenue producing activity. Marketing function is rightly considered the most important function of management.

Marketing gives top priority to the needs of customers. Quality of goods, storage, display, advertisement, packaging, etc. are all directed towards the satisfaction of customer.

Marketing helps in the creation of place, time and possession utilities. Place utility is created by transporting the goods from the place of production to consumption centres. Time utility is created by storing the goods in warehouses until they are demanded by customers. Possession or ownership utility is created through sale of goods. The significance of marketing lies in the creation of these utilities to satisfy the needs of the customers and thereby earn profit. It a firm is able to satisfy its customers, it will have better chances of survival and growth even in the fast changing environment.

Marketing generates revenue for the business firm. Marketing is an important activity these days, particularly in the competitive economies. Marketing generates revenue for the business enterprises. No firm can survive in the long-run unless it is able to market its products. In fact, marketing has become the nerve-centre of all human activities.

Role of Marketing in the Economy :

Marketing plays a significant role in the growth and development of an economy. It acts as a catalyst in the economic development of a country by ensuring better utilisation of the scarce resources of the nation. Since a business firm generates revenues and earns profits by its marketing efforts, it will engage in better utilisation of resources of the nation to earn higher profits.

Marketing determines the needs of the customers and sets out the pattern of production of goods and services necessary to satisfy their needs. Marketing also helps to explore the export markets.

Marketing helps in improving the standards of living of people. It does so by offering a wide variety of goods and services with freedom of choice. Marketing treats the customer as the king around whom all business activities revolve. Besides product development, pricing, promotion, and physical distribution of products are carried out to satisfy the customer.

Marketing generates employment for people. A large number of people are employed by modern business houses to carry out the functions of marketing. Marketing also gives an impetus to further employment facilities. In order to ensure that the finished product reaches the customer, it passes through wholesalers and retailers and in order to perform numerous jobs, many people are employed.

On the whole, marketing leads to economic development of a nation. It increases the national income by bringing about rise in consumption, production and investment. It mobilises unknown and untapped resources and also facilitates full utilisation of production capacity and other assets. It helps in the integration of industry, agriculture and other sectors of the economy. It also contributes to the development of entrepreneurial and managerial talent in the country.

Essay # 9. Challenges and Opportunities of Marketing:

A large number of changes have taken place in the recent years which have influenced the field of marketing as discussed below:

1. Globalisation :

The term ‘globalisation’ means the process of integration of the world economy into one huge market through the removal of all trade barriers or restrictions among countries. In India, restrictions on imports and exports and inflow and outflow of capital and technology have been lifted by the Central Government so that Indian business may become globally competitive.

The broad features of globalisation are as follows:

(i) Free flow of goods and services across national frontiers through removal or reduction of trade barriers.

(ii) Free flow of capital across nations.

(iii) Free flow of technology across nations.

(iv) Free movement of human resources across nations.

(v) Global mechanism for the settlement of economic disputes.

The aim of globalisation is to look upon the world as a ‘global village’ which would allow free flow of goods, capital, technology and labour between different countries. Because of globalisation, there has been a tremendous impact on marketing strategies of business firms, particularly engaged in international marketing. They have to design product, price, promotion, place or distribution strategies to meet the challenges of global marketing.

2. Information Technology (IT) :

Information technology has enabled real-time access and sharing of digital information through digital networks, information database, and computer graphics. It has brought about many changes in the business landscape.

Electronic technology has facilitated purchase and sale of goods and services electronically. E-Commerce can be used not only to market product, but also to build better customer relationships. Thus, marketers are facing new challenges as regards booking of e-orders, e-deliveries of intangible products, receiving e-payments and Customer Relation Management (CRM).

3. Increased Leisure Time :

As a result of shorter working week, vacations, and labour-saving devices available for domestic use, most wage-earners now enjoy more leisure time. So there has grown a market for articles used for recreational purposes to enjoy the leisure time. In the developing countries also, cinema shows, holiday trips, sports and games have come into importance.

4. Changing Role of Women :

Throughout the world more and more women are taking up jobs and have gained economic independence to a large extent. They accept even challenging jobs. They also exert greater influence on buying decisions of their families. It may happen that husband buys a commodity according to the decision of the wife. This has necessitated special study of the buying motives of the working women.

5. Demand for Services :

Over the years, consumers’ demand for services is on the rise as in case of tour and travel, educational, medical, repair and maintenance services, etc. Due to growing complexity, business firms also need expert services like accounting, taxation, advertising, customer care, etc.

6. Increased Competition :

Business has become more competitive these days and this has brought about many changes in the field of marketing, e.g., product differentiation, competitive pricing, competitive advertising, customer support services, etc.

7. Social Emphasis :

Marketing is now concerned with the long-term health and happiness of consumers and well-being of society. Marketers in are getting involved in improving the quality of life of consumers and preventing or minimising the evil effects of environmental pollution on the society by practising green marketing.

Emerging Concepts in Marketing :

1. Social Marketing:

It refers to the design, implementation, and control of programs seeking to increase the acceptability of a social idea, cause, or practice among a target group. For instance, a recent publicity campaign for prohibition of smoking in Delhi explained the place where one can and can’t smoke in Delhi.

2. Relationship Marketing:

It is the process of creating, maintaining, and enhancing strong value-laden relationships with customers and other stakeholders. For example, British Airways offers special lounges with showers at many airports for frequent flyers. Thus, providing special benefits to valuable the customers to strengthen bonds will go a long way in building relationships.

To achieve relationship marketing, a marketer has to keep in touch with the regular customers, identify most loyal customers to provide additional services to them, design special recognition and reward schemes, and use them for building long-term relationships.

3. Direct Marketing:

It means marketing through various advertising media that interact directly with consumers, generally calling for the consumer to make a direct response. Direct marketing includes Catalogue Selling, Mail Order, Tele computing, Electronic Marketing, Selling, and TV Shopping.

4. Service Marketing:

It is applying the concepts, tools, and techniques, of marketing to services. Service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Services may be financial, insurance, transportation, banking, savings, retailing, educational or utilities.

5. Non-Business Marketing:

Marketing is applied not only to business firms but also to non-business organisations. Voluntary institutions are adopting principles and practices of marketing to promote their ideologies, schemes and programs among the target groups.

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Summary and Conclusion

MARKETING IS the most exciting of all business sports. It is the heartbeat of every successful business. It is continually changing in response to the explosion of information, the expansion of technology, and the aggressiveness of competition, at all levels and everywhere.

All business strategy is marketing strategy. Your ability to think clearly and well about the very best marketing strategies, and to continually change and upgrade your activities, is the key to the future of your business.

Fortunately, like all business skills, marketing can be learned by practice, experimentation, and continually making mistakes. The key is to test, test, test. And whatever marketing strategy is working for you today, no matter how ...

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My Career in Marketing Management

Introduction, importance of the marketing management degree.

Marketing is a practice done by individuals, institutions, and managerial entrepreneurs to manufacture and correspond to buyers who might be customers or dealers. The whole process ensures organizations offer and takes commodities and services to and from their partners, clients, customers, or the whole society nationally and internationally. Marketing creates a business environment hence, the main reason why a degree in marketing is an asset in the success of most business enterprises. The whole process serves as the main basis for determining an organization’s market segment (American Marketing Association, 2007, Para. 4).

The success of any business opportunity and enterprise depends solely on the marketing managerial skills used by the company or firm in relinquishing its products to customers who are the main consumers. Marketing management is a module that has all potential dynamics including modalities, techniques, and customs of a firm. This helps in the application of correct and available wealth and tricks for the success of the business venture. The role of the marketing managers is to ensure that, there is a wider influence on customers’ expertise, proper instance schedule, and defining and predicting the demand geared to produced commodities. As a marketing student, these are the modules to grasp which find wide application in the field of marketing management. My degree in marketing management is a theory focusing on practicality and reality in the business environment. The skills acquired range from commercial norms, type of engagement industry, and the business magnitude. If the business enterprise is bigger, then marketers require higher skills to manage it well (Conley & Friedenwald, 2006, pp.7-9).

A degree in marketing management creates an insight thought to the learners who will make pragmatic business and marketing pronouncements in a vastly growing market full of demands and liquidities. Companies need brand design, media residencies, proper distribution of goods, and clear management that will succeed in vending the products. This is what I learn in my marketing degree. Wide and extensive knowledge of customer needs and their feedback achieved in class is a reckoning force that is instrumental in determining the demands of customers through brands created and marketing strategies employed for the welfare of the firm. A degree in marketing gives one an insight on how to develop a modality that will enable one to calculate the profitability of a brand or product. On the other hand, such calculations will help an organization to ensure there is a unified success both in sales and production (Jenkinson, 2006, pp.248-252).

Some people may argue that everybody is a marketer whether with a degree or not. However, a degree in marketing exposes one to marketing researches, which somebody who has no knowledge in marketing research cannot undertake. There should be a mutual understanding of strategic marketing, which is the main source of consumer behavior and characteristics. To learn strategic marketing, one requires skills taught in class by researchers who have experienced market trends. Strategic marketing involves modules that create a business environment, which tolerates the concentration of a firm’s resources. This helps to realize a competitive market with increased sales, through the application of appropriate marketing strategies. The central role of a marketer is to ensure that there is customer satisfaction, hence the main importance of marketing degrees. A marketing degree encompasses strategic models, different types of methodologies, plans and steps to undertake, and most important, strategic corporate ideologies. A marketing degree helps an individual to dedicate and focus modalities that will create higher sales and perhaps reach the targeted market forte.

As a marketer, the skills learned in-class work are instrumental in making promotions of products produced by a firm. If firms need to sell their produces effectively and make a higher percentage profit, then all must start with excellent product promotions. On the other hand, making good judgments on product costs, first-class distribution environments, and outstanding relations with other stakeholders can propel a business up the economic ladder. Conducting correct sale procedures determine the amount of revenue generated by organizations, and they sorely depend on marketing strategies. If poor marketing strategies are applied, then all organizations expect is poor business transactions caused by meager demands from customers, who are consumers of products produced by different firms. Marketing strategy as a module of marketing management enables a marketer to manage the targets of a firm. This is because they help to determine a viable market, where demand is high, when and where to carry out market promotions. In addition, they help to determine how a firm can distribute resources to all departments to achieve success in its business.

Through learning, marketers are able to learn how to handle customers who are the main backbone of a firm’s revenue. Individuals who prospect to be marketers must know how to use customer knowledge effectively in realizing their wants and rejections. In addition, the knowledge helps to know how to search for a viable environment where demand is lofty and competition is at the brim. A marketing career requires a marketer to have enormous skills in terms of corporate targets, operations, and policies, which establish the success of the firm in terms of demands and sales. Moreover, a degree in marketing is rich in useful skills concerning market trends from capitalization to supremacy (Bush, Shannahan & Dupuis, 2007, pp.40-45). One is able to distinguish between different types of market trends like who is a follower, a niche, a challenger and a market leader hence make a sound judgment on what to add to a market. This in turn will increase competition and create profound sales of commodities produced. Penetration into market dominance is not in-born but rather acquired through learning and acquiring experience from the arena of marketing.

New product development and a good strategy framework form an integral part of a marketing professional. Product differentiation and market segmentation are leadership strategies acquired through learning whereby, communication skills play an important role in ensuring the success of a firm’s strategic marketing policies. Marketers are able to develop marketing plans for their companies later in their profession because they have extensive knowledge of the same. On the other hand, demand realization requires convincing customers to buy expensive and cheap products through proper sensitization of such products. The majority of actions by marketers sway Customers, which include making research proposals, determining the price of the products (in an aggressive market environment), proper promotional services, and superb distribution of products to potential customers. These market segmentation strategies help in solving multifaceted situations facing marketing strategies of a specific firm’s market segmentation.

Any business enterprise whether small or big demands business ethics and adherence to business law. Strategies used by marketers during the overall process of strategy internalization will depend on the amount of knowledge acquired through learning. A firm’s reputation and its business environment are fostered by research and consumerist projects, hence consideration of many marketing factors (Maignan & Ferrel, 2005, pp.3-5). Strategic marketing plans originating from professional marketers try to answer complex situations, which determine the viability of the business. Through research, marketers realize the strengths and weaknesses of a firm, achievements, and customer demand. In addition, researchers can learn methods of increasing an organization’s promotions in order to attract more and more customers. Marketers and organization’s management realize business behavior by the conceptual analysis of the demands from market feasibility. This induces a signal to the firm and marketers on whether to adopt different measures or employ new mechanisms to deal with the problems that may tend to jeopardize the entrepreneurial setting of an organization.

In conclusion, Marketers are the driving forces of firms and all business organizations, if the product sale and customer demand are under question, then the potentiality of organizations should question the potential of marketers. Good marketers are those who can transform their knowledge into finished products. In a marketing language, both the organization and consumers see products produced as clarifications, whereas promotions constitute a demanding portfolio from customers. Fixation of the price on services and products gives worth to a company, which must generate enough revenue to cater for expansion and business fitness. If an organization or a business unit distributes services and products according to the knowledge of the marketers then, there will be easier accessibility of such goods by customers hence a higher demand. Generally, a marketing degree is good for a business to thrive as one can apply it in ensuring proper marketing strategies, increased demand from customers, making research proposals, and determining a viable market environment.

American Marketing Association, 2007. Definition of Marketing. Web.

Bush, V.D., Bush, A.J., Shannahan, K.L.J., and Dupuis, R.J., 2007. Segmenting markets based on sports orientation: An investigation of gender, race and behavioral intentions. The Marketing Management Journal , 17(1), 39-50.

Conley, C., and Friedenwald, F., 2006. Marketing that Matters . San Francisco. Koehler Publishers. Web.

Jenkinson, A., 2006. Do organizations now understand the importance of information in Providing excellent customer experience? Journal of Database Marketing & Customer Strategy Management , 13(4), pp.248-260.

Maignan, I. and Ferrell, O.C., 2004. Corporate social responsibility and Marketing: An Integrative framework. Journal of the Academy of Marketing Science , 32(1), pp. 3-19.

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Home — Essay Samples — Business — Marketing Management — Importance of Marketing for a Successful Business

Importance of Marketing for a Successful Business

Categories: Business Success Marketing Management Marketing Plan

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Words: 1596 |

Published: Nov 16, 2018

Words: 1596 | Pages: 4 | 8 min read

Marketing plan and its importance, why customer will going to buy your product, best marketing tools/strategies for automotive dealers, social media management platforms, works cited, situation analysis, target market, marketing strategy, objectives & tactics, sales and budget, reputation of concerning brand.

To identify all positive and negative aspects of business over the year
Maintain consistency and accuracy in business activities
Assessing where in business or marketing activates you are not going on track
Reviewing and understanding your competitor’s business and marketing strategy
Monitoring for brand mentions and sentiment
Working on recommendations to maintain your worth
Improving your work plan and strategies.

Marketing Automation Software

23% of automotive patrons use social media to debate or communicate a recent purchase expertise.
38% of shoppers report they’ll consult social media successive time they purchase an automotive.
84% of all automotive shoppers square measure on Facebook, with pure gold mistreatment the platform as a resource for the acquisition of their last vehicle. Facebook permits you torealize your datum with targeted promotions and therefore the capability to find supporters from your membership info on the stage. To stay up engagement consistency is vital. Systematically arrange substance and supply recordings, and specially, react to inquiries and remarks after they emerge.

Website Chat

Pay per click advertising.

Doney, P. M., & Cannon, J. P. (1997). An examination of the nature of trust in buyer-seller relationships. Journal of marketing, 61(2), 35-51.
Kotler, P., & Armstrong, G. (2010). Principles of marketing. Pearson education.
Morgan, R. M., & Hunt, S. D. (1994). The commitment-trust theory of relationship marketing. Journal of marketing, 58(3), 20-38.
Nair, S. K., & White, D. (2013). The role of marketing in the success of a business. Journal of business and management, 12(3), 54-62.
Phillips, R., & Bagozzi, R. P. (1986). A critical review of construct indicators and measurement model misspecification in marketing and consumer research. Journal of consumer research, 13(2), 159-178.
Pride, W. M., & Ferrell, O. C. (2011). Marketing. Cengage Learning.
Ranjbarian, B., Vafaei, S., & Alipour, H. (2013). The effect of marketing mix on customer satisfaction: A case study deriving consensus rankings from benchmarking. International Journal of Business and Management, 8(14), 126.
Sheth, J. N., & Sisodia, R. S. (2015). Does marketing need reform?: Fresh perspectives on the future. Routledge.
Wang, C., & Zhang, J. (2012). The effects of marketing mix elements on brand equity. Journal of Business and Management, 1(1), 23-28.
Webb, D. J. (2018). Automotive Marketing: How to use the Web to Sell More Cars. CRC Press.

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Samford University's College of Health Sciences (CHS) held its spring pinning, hooding and commencement ceremonies from April 25-27. The four schools in the college—McWhorter School of Pharmacy, the School of Health Professions, Moffett & Sanders School of Nursing and the School of Public Health — awarded 278 graduates with a bachelor's degree and 309 with a master or doctoral degree.

Throughout the ceremonies, a central theme emerged: the resilience and determination exhibited by the class of 2024. Despite encountering unprecedented challenges during their college journey, these graduates demonstrated remarkable strength in navigating the uncertainties imposed by a global pandemic while transitioning into university life or graduate school. Each speaker emphasized the importance of perseverance and encouraged the graduates to carry forward this tenacity into their future endeavors, assuring them of their potential for success.

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Jno-Finn is a 1999 graduate of Samford University and founded M3 Endeavors, a physical therapy practice with three locations in the Birmingham area.

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Marketing as the Most Important Function of Management Essay

Introduction.

There are different functions of business management. The functions of business include controlling, leading, organizing and marketing among others. These functions are essential in successful operation of the respective business entity. The management functions should be effectively coordinated to achieve goals and objectives of a company or organization.

Each function plays an important role in the development and success of the respective business. However, marketing is considered among the most important functions of management because it is concurrent through the management process of an organization.

Marketing involves searching of market for the products of an organization and determination of the customers’ preferences and appropriate product to produce in the market.

It also involves informing the public of new products of a company, how to use the respective product, close competitors and how to compete fairly and effectively in the respective market, and any other change that has been made on respective products. There are different tools that can be used for marketing, for instance, events. This paper highlights how events can be used as a marketing tool.

There are different categories of events that companies or organizations may participate in; they include, leisure events, organizational events, personal and cultural events. Choice of an event to use as a marketing tool wholly depends with the respective product that a company intends to market and the expected target group or consumers.

Generally, most companies use product launch as a marketing strategy because it is the most common form of organizational event organized by all companies irrespective of size or nature of products produced. Basically, events are categorized with reference to their objective and purpose (Bowdin ‘et al’ 56). However, organizations and companies may use different events as a marketing tool irrespective of their objective or purpose provided the company achieves its goal and the event also achieves its objective and purpose (Goldblatt 79).

Consumers’ tastes and preferences are dynamic and therefore require organizations to closely monitor the market and adapt to respective changes that may affect their survival and operation in the respective industry. To effectively operate and compete in an industry and meet needs and demands of consumers, companies need to establish an effective strategic marketing tool.

The tool should also be considered an effective communication tool, for instance, events. Events are considered one of the most effective communication and marketing tool that are from launching of a product to organizing of press conferences (Goldblatt 84). Basically, promotional events are created by companies to enable them effectively communicate with both the potential clients and existing customers of the company or organization (Bowdin ‘et al’ 64).

Consumers are evenly distributed and reaching them at once may be difficult and tricky. However, use of events as a strategic marketing tool may enable easy reach to consumers from different geographical areas. Though organized promotional events may not be attended by all consumers or customers, they can be reached through Medias such as radios, magazines and television among others.

These medias can be accessed by different people hence enable easy reach to different consumers (Bowdin ‘et al’ 71). Furthermore, these Medias enable reach to thousands and millions of people and from different geographical areas. Similarly, companies or organizations may organize events and invite target audience to the actual event, but this might not be effective in reaching a large number of the target group (Goldblatt 93).

Though most companies and organizations rely on organizational events for marketing, this cannot be effective in reaching large number of people especially potential consumers; therefore, use of other events such as personal, leisure and cultural events may be effective in reaching different groups of people, for instance, leisure events such as sports and music may be effective in marketing a product and reaching a large number of people leading to profit increment.

Companies especially beverage and alcohol producing companies are at a better position in using leisure events in marketing because the products are mainly used during leisure periods or occasions (Bowdin ‘et al’ 83).

A company producing energy drink, alcoholic or beverages may decide to sponsor a sporting or music auditions event. Sponsorship is the main method how companies use leisure events such as music and sporting activities in marketing their products and increasing their market share.

During such events, companies are able to expose different people attending the events to both their existing and new products, it also gives the company an opportunity to personally interact with both the existing and potential customers hence maintain the existing clients while win over potential customers.

Leisure events are effective in marketing products because organizations or companies have the opportunity to teach clients how to use their products, inform them of changes made on the product give both existing and potential clients opportunity to use their products at no cost. Moreover, such events enable a company to understand demands of different consumers, expected changes they ought to make to their products to effectively compete in the market with other products (Goldblatt 112).

Choice of event to use as a marketing tool wholly depends with the type of product produced by a company or organization. Event to use in marketing also may determine the outcome of the marketing process with reference to the product the respective company or organization produces (Goldblatt 121).

There are different categories of events that can be used by different companies or organizations, for instance, cake and flower producing companies or organizations may use personal events such as weddings, anniversaries and birthdays in marketing their products.

Such events may also expose potential clients to the products of the company because such products are mostly used in such events, for instance, anniversary of the 9/11 bomb blast victims among others. Furthermore, such companies may also participate in sponsorship of cultural events such as art, heritage and ceremonial among others (Bowdin ‘et al’ 89).

Marketing involves boost of sales, informing of consumers how to use products of a company, changes made on a product, new products produced by a company, discount on prices and improvement on respective products. There are different marketing tools that can be used by companies; however, events are among the best tools that can be used by companies in producing different products.

Events can be used by different companies and organizations producing different products as marketing tool because it can be used in reaching large number o people and at a reasonable cost. Therefore, event can be considered one of the universal and best marketing tools that can be used by any organization irrespective of the products it produces or group it targets.

Works Cited

Bowdin, Glenn; Johnny Allen, William O’Toole, Rob Harris, Ian McDonnell. “ Marketing tools.” New York: Springer, 2009. Print.

Goldblatt, Joe. “ Marketing tools: Event Management.” Cambridge: Cambridge UP, 2010. Print.

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IvyPanda. (2022, December 3). Marketing as the Most Important Function of Management. https://ivypanda.com/essays/events-as-a-marketing-tool/

"Marketing as the Most Important Function of Management." IvyPanda , 3 Dec. 2022, ivypanda.com/essays/events-as-a-marketing-tool/.

IvyPanda . (2022) 'Marketing as the Most Important Function of Management'. 3 December.

IvyPanda . 2022. "Marketing as the Most Important Function of Management." December 3, 2022. https://ivypanda.com/essays/events-as-a-marketing-tool/.

1. IvyPanda . "Marketing as the Most Important Function of Management." December 3, 2022. https://ivypanda.com/essays/events-as-a-marketing-tool/.