We provide complete marketing management notes. Nature and Scope of ManagementManagement has many aspects and today, we'll talk about the nature and scope of management. Kushagra Ranjan. Marketing management is the process of developing strategies and planning for the business such as the advertisement, promotions, sales and etc. Learning Objectives. To develop a better understanding of the marketing practices, let us know about its nature: Managerial Function: Marketing is all about successfully managing the product, place, price and promotion of business to generate revenue. The marketing environment is dynamic in nature. Read this article to learn the (i) Nature of Marketing, (ii) Scope of Marketing, (iii) Functions of Marketing, and (iv) Importance of Marketing…. 1 Session - 1: Nature Of Marketing Marketing is Customer-focused. These markets exist for products/services that are daily necessities like fruits, vegetables, fish, garments, electronic goods, etc. Market is a place where buyers and sellers come together and exchange products and services. Planning precedes all the functions. In that context, integrating management and marketing concepts to help prepare individuals for careers constitutes the primary goal. Nature of Management Information System. That is, effective It coordinates the resources of production and distribution of goods and services, determines and directs the nature of efforts required to sell profitably by maximum . This route is also known as Distribution Channel, Channel of Distribution or Trade Channel. This study empir­ . Managers are responsible for the processes of getting activities completed efficiently with and through other people and setting and achieving the firm's goals through the execution of four basic management functions: planning, organizing, leading, and controlling. Marketing: Distribution . Chapter 1 - 2 - Strategy: Concepts, Developments, and Prac tices. Nature of Marketing. nature and scope of marketing Marketing is typically seen as the task of creating , promoting , and delivering goods and services to consumers and business. Managing life implies getting everything done to accomplish life's aspirations and maintaining an establishment means getting everything done wh and by other people to deliver its objectives. Scope of Marketing. Email. What is the nature and function of distribution (place)? Strategic planning can be viewed as a stream of decisions and actions that lead to effective strategies and which, in turn, help the firm achieve its growth objectives. So far, much of what has been said could be equally applicable to either a product or a service. ; Economic Function: The crucial second marketing objective is to earn a profit. Introduction • Main objective of any business organization is to satisfy the needs and wants of the society • Production or purchase is of no meaning if a firm is unable to market its goods and services • Marketing is the focal point of all business activities Nature and Scope of the Marketing-Information Management Function This function centers around different companies trying to get information about their products from their target market. Marketing management's nature and objectives will have become vastly . Four P's of marketing: Once the product goals are set, the four P's of marketing; price, place, product and promotion strategy, come into the picture. Creative Process: -Event Management is a creative process. 'Marketing is Meeting needs Profitably' Definition: Marketing is the activity, Set of Institutions and process for creating, communicating , delivering and exchanging offerings that have value for customers, clients, partners and society at large. The following are the other factors showing importance of the marketing management: First, it is a common name for the capstone course taken by marketing majors as they prepare to graduate. "Marketing management is the creative management function which promotes trade and employment by assessing consumer needs and initiates research development to meet them. 3. Planning is the first and the foremost function of management. Marketing is Consumer-oriented: 3. The skill in managing the marketing function is to take a broader view than simply designing products and services for sale to target consumers. Remember me on this computer. Can . Where the research is more qualitative in nature . Marketing Management is thus a science as well as an art. Marketing Management - Introduction Notes. It must come up with new ideas to manage and deal with the event. Set product and marketing goals: Setting product goals is one of the best methods for obtaining success with new products.The product should be marketed in such a way that it becomes indispensable for the consumers. NATURE AND SCOPE OF MARKETING 1. PHILIP KOTLER MARKETING MANAGEMENT SUMMARY PREPARED BY. a . A model of competitive strategies will then be presented in a circular perspective, considering the shifting nature of movement, imitation, and position . new model of the scope of marketing help resolve the "nature of marketing" and "marketing science" controversies? While word-of-mouth is an effective way to let people . Marketing Research and Analytics. What is the Scope of Marketing, What is Marketing? 1. It includes many facets, such as location, hours, website presence, logistics . The Nature and Scope of Marketing Can a new model of the scope of marketing help resolve the "nature of marketing" and "marketing science" controversies? The Following are the characteristic of Event Management: 1. DURING the past three decades, two con-troversies have overshadowed all others in the marketing literature. This article will explain both aspects of management briefly. Technological. Marketing is the performance of activities that seek to accomplish an or ganization™ s objectives by anticipating customer or client needs and directing the flow of need satisfying goods and services from producer to customer or client. Marketing is the process of satisfying the needs of a consumer. Ethics can be viewed in terms of the needs of' the individual and the needs of Logistics management is concerned with the integration and co-ordination of marketing activities in a way that end markets are served in the most effective way. You will also understand the current nature, structure, key players, and future of trade marketing. Therefore, management must design its channels carefully, with an eye on both tomorrow's likely selling environment and today's." (Kotler & Armstrong, 2012: p.341-2) Second, why are Marketing Channels important? Nature and Scope of Sales and Marketing Meaning of marketing The marketing process Goals of marketing Marketing philosophies Historical development of marketing Role of marketing in economic development (Visited 951 times, 1 visits today)

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