Join with a free account for more service, or become a member for full access to exclusives and extra support of WorldSupporter >>
Marketing management equips you with the knowledge and skills to oversee an organization's marketing efforts. It encompasses everything from understanding customer needs and developing marketing strategies to creating and executing marketing campaigns that achieve organizational goals.
What are main features of marketing management?
- Customer Focus: Marketing management centers around understanding customer needs, wants, and behaviors to develop marketing strategies that resonate with them.
- Market Analysis: Involves researching and analyzing the competitive landscape, target markets, and broader market trends to inform marketing decisions.
- Marketing Mix (4Ps): A framework for making marketing decisions that considers product, price, place (distribution), and promotion.
- Strategic Planning: Developing a comprehensive marketing plan that aligns with the organization's overall business objectives.
What are important sub-areas of marketing management?
- Product Marketing: Focuses on developing, launching, and managing a product or service portfolio that meets customer needs and achieves business goals.
- Pricing Strategy: Determining the optimal price for products or services to maximize profitability and market competitiveness.
- Brand Management: Creating, managing, and protecting a brand's reputation and image in the marketplace.
- Marketing Communications: Developing and implementing communication strategies to reach target audiences and promote products or services. This includes advertising, public relations, social media marketing, and content marketing.
- Sales Management: Leading and motivating the sales team to achieve sales goals and build customer relationships.
What are key concepts in marketing management?
- Customer Lifetime Value (CLV): The total revenue a customer is expected to generate over their relationship with a business.
- Marketing Segmentation: Dividing a market into distinct groups of customers with similar needs or characteristics.
- Marketing ROI (Return on Investment): The measurement of the return on investment for marketing activities.
- Brand Positioning: The way a brand is perceived by customers relative to its competitors.
Who are influential figures in marketing management?
- Philip Kotler: Considered the "father of modern marketing," Kotler is known for his work on marketing mix, marketing management theory, and social marketing.
- Al Ries and Jack Trout: Pioneers of positioning theory, they emphasized the importance of differentiating a brand's position in the customer's mind.
- Theodore Levitt: Marketing scholar who advocated for a market-oriented approach, focusing on customer needs rather than products.
Why is marketing management important?
- Increased Sales and Profitability: Effective marketing helps businesses attract new customers, retain existing ones, and ultimately drive sales and profitability.
- Brand Awareness and Reputation: Marketing helps build brand awareness, create a positive brand image, and establish brand loyalty.
- Competitive Advantage: A strong marketing strategy can differentiate a business from its competitors and give it a competitive edge.
- Understanding Customer Needs: Marketing research and analysis provide valuable insights into customer needs and preferences, which can inform product development, pricing strategies, and overall business decisions.
What are applications of marketing management in practice?
- Market Research: Conducting surveys, focus groups, and competitor analysis to understand customer needs and market trends.
- Developing Marketing Plans: Creating a roadmap that outlines marketing goals, target audiences, strategies, and tactics.
- Managing Marketing Campaigns: Developing and executing marketing campaigns across various channels, such as social media, email marketing, and content marketing.
- Measuring Marketing Performance: Tracking and analyzing marketing campaign results to assess effectiveness and identify areas for improvement.
- Marketing Budget Allocation: Deciding how to allocate marketing resources across different channels and activities to maximize return on investment.
Summary with Marketing Management with MyMarketingLab: Global Edition by Kotler and Keller
- Chapter 1: Defining marketing for the 21st century
- Chapter 2: Developing marketing strategies and plans
- Chapter 3: Gathering information and scanning the environment
- Chapter 4: Conducting marketing research and forecasting demand
- Chapter 5: Creating customer value, satisfaction, and loyalty
- Chapter 6: Analyzing business markets
- Chapter 7. Analyzing business markets
- Chapter 8: Identifying market segments and targets
- Chapter 9: Creating brand equity
- Chapter 10: Crafting the brand positioning
- Chapter 11: Dealing with competition
- Chapter 12: Setting product strategy
- Chapter 13: Designing and managing services
- Chapter 14: Developing pricing strategies and programs
- Chapter 15: Designing and managing value networks and channels
- Chapter 16: Managing retailing, wholesaling, and logistics
- Chapter 17: Designing and managing integrated marketing communications
- Chapter 18: Managing mass communications
- Chapter 19: Managing personal communications
- Chapter 20: Introducing new market offerings
- Chapter 21: Tapping into international markets
- Chapter 22: Managing a holistic marketing organization
- Year of summary and more summaries and study notes for Marketing by Kotler
Chapter 1: Defining marketing for the 21st century
Nowadays economy is based on the Digital Revolution and information management. It promises more accurate levels of production, more targeted communications, and more relevant pricing, and is therefore characterized by the so-called Information Age.
The new economy differs a lot from the old economy, which was based on the Industrial Revolution, manufacturing industries, and standardization of products to achieve economies of scale. The old economy is characterized by the Industrial Age, which focused on mass-production and mass-consumption with a focus on efficiency.
The new economy has provided more capabilities to both consumers and businesses. Consumers can now:
- Find the lowest prices, caused by their increase in buying power.
- Access a greater variety of available goods and services. (e.g. through Amazon.com)
- Access large amounts of information about anything
- Interact, place and receive orders easily, 24/7 and from any location.
Compare notes on products and services.
Companies can now operate powerful new information and sales channels to inform the consumer and promote their businesses and products.
e.g. Using Web sites:
- Collect fuller and richer information about markets, customers’ needs, prospects, and competitors.
- Businesses can speed up and facilitate internal Communication among employees.
e.g. Intranet:
- Businesses can now communicate with customers and prospects in a “two-way” manner, and have more efficient transactions.
e.g. Extranets with suppliers:
- Send ads, coupons, samples, and information to those customers that requested it.
- Customize offerings and services to the needs and wants of individual customers.
- Improve purchasing, recruiting, training, and internal and external communications.
e.g. Internet, allows organizations for the comparison of prices, improving purchasing, logistics and operations, saving costs and improving accuracy and quality.
These new capabilities of consumers and customers create new.......read more
Communication and marketing: The best concepts summarized
Communication and marketing: The best concepts summarized
Table of content
- Marketing
- Marketing management
- Communication
- Communication sciences
- International communication
- Intercultural communication
- Sales
- Media studies
- Media sciences
Management and leadership: The best concepts summarized
Management and leadership: The best concepts summarized
Table of contents
- Management
- Leadership
- Strategic management
- Operations management
- Inventory management
- Marketing management
- Human Resource Management
- Financial management
Business and Economics - Theme
Summaries, study notes, internships, tips and tools for study and work in business and economics
- 1 of 138
- next ›
JoHo can really use your help! Check out the various student jobs here that match your studies, improve your competencies, strengthen your CV and contribute to a more tolerant world
Online access to all summaries, study notes en practice exams
- Check out: Register with JoHo WorldSupporter: starting page (EN)
- Check out: Aanmelden bij JoHo WorldSupporter - startpagina (NL)
How and why would you use WorldSupporter.org for your summaries and study assistance?
- For free use of many of the summaries and study aids provided or collected by your fellow students.
- For free use of many of the lecture and study group notes, exam questions and practice questions.
- For use of all exclusive summaries and study assistance for those who are member with JoHo WorldSupporter with online access
- For compiling your own materials and contributions with relevant study help
- For sharing and finding relevant and interesting summaries, documents, notes, blogs, tips, videos, discussions, activities, recipes, side jobs and more.
Using and finding summaries, study notes en practice exams on JoHo WorldSupporter
There are several ways to navigate the large amount of summaries, study notes en practice exams on JoHo WorldSupporter.
- Use the menu above every page to go to one of the main starting pages
- Starting pages: for some fields of study and some university curricula editors have created (start) magazines where customised selections of summaries are put together to smoothen navigation. When you have found a magazine of your likings, add that page to your favorites so you can easily go to that starting point directly from your profile during future visits. Below you will find some start magazines per field of study
- Use the topics and taxonomy terms
- The topics and taxonomy of the study and working fields gives you insight in the amount of summaries that are tagged by authors on specific subjects. This type of navigation can help find summaries that you could have missed when just using the search tools. Tags are organised per field of study and per study institution. Note: not all content is tagged thoroughly, so when this approach doesn't give the results you were looking for, please check the search tool as back up
- Check or follow your (study) organizations:
- by checking or using your study organizations you are likely to discover all relevant study materials.
- this option is only available trough partner organizations
- Check or follow authors or other WorldSupporters
- by following individual users, authors you are likely to discover more relevant study materials.
- Use the Search tools
- 'Quick & Easy'- not very elegant but the fastest way to find a specific summary of a book or study assistance with a specific course or subject.
- The search tool is also available at the bottom of most pages
Do you want to share your summaries with JoHo WorldSupporter and its visitors?
- Check out: Why and how to add a WorldSupporter contributions
- JoHo members: JoHo WorldSupporter members can share content directly and have access to all content: Join JoHo and become a JoHo member
- Non-members: When you are not a member you do not have full access, but if you want to share your own content with others you can fill out the contact form
Quicklinks to fields of study for summaries and study assistance
Field of study
- All studies for summaries, study assistance and working fields
- Communication & Media sciences
- Corporate & Organizational Sciences
- Cultural Studies & Humanities
- Economy & Economical sciences
- Education & Pedagogic Sciences
- Health & Medical Sciences
- IT & Exact sciences
- Law & Justice
- Nature & Environmental Sciences
- Psychology & Behavioral Sciences
- Public Administration & Social Sciences
- Science & Research
- Technical Sciences
Add new contribution