MARKETING MANAGEMENT
MARKETING MANAGEMENT NI
Marketing management involves developing and implementing strategic marketing programs, processes, and activities that align with wider business objectives, while utilizing customer insights, tracking metrics, and optimizing internal processes to achieve success.
Marketing management involves developing and implementing strategic marketing programs, processes, and activities that align with wider business objectives, while utilizing customer insights, tracking metrics, and optimizing internal processes to achieve success.
Being an effective marketing leader is more complex than it sounds. Speak to any marketing management professional and they’ll tell you that their work is equal parts strategy, planning, execution, and analysis. It’s easy to see why. Marketing professionals with a documented strategy are 313% more likely to succeed when compared to their peers who do not have a documented strategy.
To help you succeed, we will take a close look at marketing management in this article. Read on to learn more about what marketing management is, the benefits of marketing management, different processes, and tips.
If you are looking for a 360-degree marketing tool to manage all the components of your marketing strategy, Wrike has the solution for you.
Marketing management is centered on creating, planning, and implementing strategies that will help achieve wider business objectives. These business objectives can involve increasing brand awareness, boosting profits, or entering previously untapped markets. When we begin to consider the field of marketing management, it’s important to look to marketing experts Philip Kotler and Kevin Lane Keller, who, in their book “Marketing Management," offer a standard marketing management definition as “the development, design, and implementation of marketing programs, processes, and activities that recognize the breadth and interdependencies of the business environment.”
Managers need to study their customers, have a deep understanding of the methods and strategies that retain and delight them, and be active in measuring achievements and optimizing internal processes.
Think of it this way: a high school teacher does not simply teach. They have to understand their students, create methods and strategies for passing on information, and track student progress through metrics and achievements.
In marketing, the right processes should elevate a brand, establish a strategically planned vision for an organization, and coordinate resources to get it all done.
Why is marketing management important?
Marketing management is important for businesses because it ensures effective customer engagement, product appeal, and targeted campaigns that can increase profits and achieve business objectives. You could spend years getting a product ready to launch but without proper management, you would inevitably hit several stumbling blocks.
At the outset, marketing management ensures you understand what your customer desires, down to colorways and packaging. Without it, you might find your product doesn’t even appeal to customers.
International marketing management
International marketing management encompasses marketing activities that take place across national borders. This requires the marketing manager to achieve a deep understanding of the customer base in any country where the product is marketed, including cultural nuances and demographics particular to that nation.
When you are marketing products in various other countries, you might need to engage with marketers in those localities, which will further expand your management remit. This could involve hiring employees in that country or a third-party marketing agency to better reach customers there.
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An Introduction to Marketing Management
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What is marketing management?
Marketing management involves developing and implementing strategic marketing programs, processes, and activities that align with wider business objectives, while utilizing customer insights, tracking metrics, and optimizing internal processes to achieve success.
Being an effective marketing leader is more complex than it sounds. Speak to any marketing management professional and they’ll tell you that their work is equal parts strategy, planning, execution, and analysis. It’s easy to see why. Marketing professionals with a documented strategy are 313% more likely to succeed when compared to their peers who do not have a documented strategy.
To help you succeed, we will take a close look at marketing management in this article. Read on to learn more about what marketing management is, the benefits of marketing management, different processes, and tips.
If you are looking for a 360-degree marketing tool to manage all the components of your marketing strategy, Wrike has the solution for you.
Try Wrike for Marketing
Marketing management is centered on creating, planning, and implementing strategies that will help achieve wider business objectives. These business objectives can involve increasing brand awareness, boosting profits, or entering previously untapped markets. When we begin to consider the field of marketing management, it’s important to look to marketing experts Philip Kotler and Kevin Lane Keller, who, in their book “Marketing Management," offer a standard marketing management definition as “the development, design, and implementation of marketing programs, processes, and activities that recognize the breadth and interdependencies of the business environment.”
Managers need to study their customers, have a deep understanding of the methods and strategies that retain and delight them, and be active in measuring achievements and optimizing internal processes.
Think of it this way: a high school teacher does not simply teach. They have to understand their students, create methods and strategies for passing on information, and track student progress through metrics and achievements.
In marketing, the right processes should elevate a brand, establish a strategically planned vision for an organization, and coordinate resources to get it all done.
Why is marketing management important?
Marketing management is important for businesses because it ensures effective customer engagement, product appeal, and targeted campaigns that can increase profits and achieve business objectives. You could spend years getting a product ready to launch but without proper management, you would inevitably hit several stumbling blocks.
At the outset, marketing management ensures you understand what your customer desires, down to colorways and packaging. Without it, you might find your product doesn’t even appeal to customers.
After spending considerable time preparing your product or service to be released, the right processes ensure it reaches your target market via the right channels at the right time. Marketing management can take your business from average to profitable. This can be accomplished when a team is able to analyze customer profiles and market share ahead of time, as well as scrutinize campaign outcomes, team performance, ROI, and costs once the project is completed.
International marketing management
International marketing management encompasses marketing activities that take place across national borders. This requires the marketing manager to achieve a deep understanding of the customer base in any country where the product is marketed, including cultural nuances and demographics particular to that nation.
When you are marketing products in various other countries, you might need to engage with marketers in those localities, which will further expand your management remit. This could involve hiring employees in that country or a third-party marketing agency to better reach customers there.
What are the 9 types of marketing management?
Marketing management spans a wide range of methods, strategies, and processes, which need to be coordinated effectively to ensure success. When weaved together, these elements will raise awareness of and generate ROI for your brand:
- Marketing strategy: Your organization’s plan for reaching prospects and converting them into customers
- Business development: Strategic initiatives such as mergers and acquisitions, business transformation, and entering new markets
- Brand management: Techniques to increase the perceived value of a brand over time
- Product development: The process of bringing a new product to market
- International marketing: Managing international distribution channels
- Media relations: Engaging with media and influencers to spread the word about your organization
- Customer marketing: Managing the customer experience to improve satisfaction and reduce churn
- Marketing operations: Managing marketing processes, technology, and data
- Sales: Generating leads, developing opportunities, and closing deals