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Advertising Management NotesIntroduction to AdvertisementDefinition and Objectives of AdvertisingFunctions & Classifications of Advertising Advertising Agency and its FunctionsTypes and Structure of modern Ad-agencySelection of Advertising AgencyThe Communication MixBuilding of Advertising ProgramAdvertising AppealsAIDA ConceptAdvertising Media CharacteristicsMedia Planning and SchedulingDAGMAR ApproachAdvertisement Evaluation and TestingRecall Recognition & PersuasionAdvertising BudgetAdministration & Control of BudgetRegulation of AdvertisingEthics in Advertising Marketing Management NotesNature & Scope of MarketingDefinition & Meaning of MarketingNature & Scope of Marketing ManagementMarketing ProcessMarketing Envi…

MBA Notes - Nature and Scope of Marketing Management

Question - What do you mean by marketing management? Explain nature and scope of marketing management.

Answer

Definition of Marketing, Definition of Management, Nature and Scope of Marketing Management

Definition of Marketing

According to American Marketing Association, "Marketing is an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders."

Definition of Management

According to Harold Koontz, "Management is the art of getting things done through and with people in formally organised groups."

Management consists of the interlocking functions of creating corporate policy and organising, planning, controlling, directing an organisation's resources in order to achieve the objectives of the policy.

Definition of Marketing Management


According to Philip Kotler, "Marketing Management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target audiences for the purpose of personal and of mutual gain. It relies heavily on the adoption and coordination of product, price, promotion and place for achieving responses.".

Marketing management is a business process, to manage marketing activities in profit seeking and non profit organisations at different levels of management. Marketing management decisions are based on strong knowledge of marketing functions and clear understanding and application of supervisory and managerial techniques.

Nature of Marketing Management


It Combines the Fields of Marketing and Management
As the name implies, marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas - markets, products, prices, places, promotion, and people.

Management is getting things done through other people. Managers engage in five key activities - planning, organising, staffing, directing, and controlling. Marketing management implies the integration of these concepts.

Marketing Management is a Business Process
Marketing management is a business process, to manage marketing activities in profit seeking and non profit organisations at different levels of management, i.e. supervisory, middle-management, and executive levels. Marketing management decisions are based on strong knowledge of marketing functions and clear understanding and application of supervisory and managerial techniques. Marketing managers and product managers are there to execute the processes of marketing management. We, as customers, see the results of such process in the form of products, prices, advertisements, promotions, etc.

Marketing Management is Both Science and Art
“Marketing management is art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.” (Kotler, 2006). Marketing management is a science because it follows general principles that guides the marketing managers in decision making. The Art of Marketing management consists in tackling every situation in an creative and effective manner. Marketing Management is thus a science as well as an art.

Comments

  1. This is good information about marketing management,for who want join in mba, in india we have lots of business schools, select one best b school.

    ReplyDelete
  2. Anonymous12/20/2012

    well, thank you for the great effort

    ReplyDelete
  3. This comment has been removed by a blog administrator.

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  4. AMA defined about marketing............and sir kotler defined about marketing management i see a small diffrence in both the defination.....am i correct?

    ReplyDelete
    Replies
    1. You are right Krishna, both the definitions are different, one is about marketing and other is about marketing management.

      we have made little change in this post to make it more clear and understanding.

      Delete
  5. Anonymous10/27/2015

    Marketing is the process of planing

    ReplyDelete
  6. Makting is the organzition prosess of planing

    ReplyDelete
  7. Sir i am recently take admission for 1st year MBA. So i want notes for it. can you please share all notes on my mail id.

    mahendrakothawade79@gmail.com

    ReplyDelete
  8. Marketing management is the art and science of choosing target markets and building a profitable relationships with them. it involves analysis, planning, implementing and control,
    Phlip Kotler
    Another definition of marketing management by phlip kotler

    ReplyDelete
  9. Marketing management is the art and science of choosing target markets and building a profitable relationships with them. it involves analysis, planning, implementing and control,
    Phlip Kotler
    Another definition of marketing management by phlip kotler

    ReplyDelete
  10. Please send Marketing management all book notes in my mail id - surajsharma450@gmail.com
    Is This books related to Amity university of Kolkata.

    ReplyDelete
  11. Sir i am recently take admission for 1st year MBA. So i want notes for all semester . can you please share all notes on my mail id.

    surajsharma450@gmail.com

    ReplyDelete

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