What is Marketing Management?
.jpg)
Marketing management is simply managing the way your company
promotes its products or services to consumers. You want to make sure you’re
doing everything you can to ensure the right messages reach the right people at
the right time.
Doing marketing means making decisions about how much money to
spend on advertising, whether to invest in brand awareness strategies or social
media campaigns, and whether to target customers based on their location or
demographic information.
While many companies have a single person in charge of
marketing, some businesses have departments dedicated to different aspects of
marketing. In addition, there are entire organizations devoted entirely to
marketing.
If you work for a business that uses marketing to promote its
products or services, then you may need to learn marketing management skills.
Learning these skills could help you get promoted or advance in your career.
There are four basic types of marketing. Each type involves
different approaches that are intended to achieve certain objectives.
Advertising is any activity designed to communicate something
about a product or service to someone who might use it. Advertising includes
things like print ads, television commercials, billboards, radio
advertisements, etc.
Brand Awareness is a term sometimes used interchangeably with brand loyalty. Brand awareness refers to the level of recognition a consumer has towards a specific brand. If you think of a brand, you probably think of Coca-Cola® or Nike®, among others. A brand is a name or symbol associated with a product or service, often related to a particular industry. When you buy a soda from Coke®, you expect it to taste good. Brands build trust in customers and establish powerful connections.
between them. Consumers feel loyal to brands they like and
associate those brands with high quality goods and services.
Customer Relationship Management (CRM) is a strategic approach
to engaging with your current customers, keeping them informed about your
business and finding ways to attract new ones. CRM helps you understand your
customers' buying habits and preferences and find ways to connect with them
again and again.
Social Media Marketing is a combination of social interactions,
online content creation, and search engine optimization. Social media sites
like Facebook®, YouTube®, Twitter®, Instagram®, and LinkedIn® allow marketers
to create interactive experiences around their products or services. These
tools are simple and free to use, and they're easier than ever before for
anyone to start using. Companies now have the opportunity to interact with
potential clients in real time while building customer relationships.
Marketing Management Skills
Now that you know what each type of marketing entails, let's
take a look at some general marketing management skills you should develop.
. Marketing plan
A marketing plan is a roadmap for the direction of a company's
sales and marketing activities. A marketing plan defines what those activities
should be, how they will be carried out, and who the target market is. A
well-planned marketing strategy provides a consistent message about your brand
while communicating where it wants to go. In order to achieve marketing goals,
a strong business case is necessary for any strategy to succeed.
2. Promotional messages
Promotions are a way to communicate product information in a
non-intrusive manner. There are many types of promotional messages, including
television commercials, advertisements, billboards, direct mailings, radio
spots, infomercials, coupons, posters, and fliers. Each type of promotion has
its own advantages and disadvantages. Marketers choose their best approach
based on the products or services being sold and the demographic of the
intended audience. For example, direct mail may be effective if the recipients
have been exposed to several ads on the subject matter.
3. Branding
Branding refers to the image a company projects to customers and
others in the marketplace. Branding establishes the identity of a company,
whether it is selling products, providing services, or both. A brand represents
a promise to consumers regarding quality, value, or some other aspect of the
company's offerings. Branded images become memorable and help establish a
customer's opinion of a brand.
4. Customer service
Customer service is defined as the interaction between a company and its clients, prospects, or members. To be successful, companies need to provide high levels of responsiveness to customers, whether they are calling, chatting online, sending e-mails, or visiting stores. Companies generally.
offer different levels of service depending on the nature of their interactions with customers; for instance, telephone operators might be trained to handle calls from people seeking technical assistance, while receptionists at a call center would assist with questions related to buying products.
5. Advertising
Advertising occurs when a company uses paid communication
channels (for example, TV, radio, magazines, newspapers, etc.) to promote its
brand or products/services. Advertisements are often designed to convey a
specific message, such as urging people to buy the advertised product or
encouraging them to vote for a political candidate.
6. Sales
Sales is the act of transferring ownership of goods or services
from seller to buyer. When someone buys something, the money changes hands and
the seller no longer owns the item. That person becomes the owner. Salespeople
represent sellers or buyers, negotiate prices, make offers, accept orders, and
receive payment. Companies hire sales personnel to sell their products and
services. Individuals sometimes use salespeople to sell their items. For
example, vendors selling wares at flea markets or farmers' markets often hire
salespeople to solicit potential buyers. Salespeople can work directly for the
seller or indirectly, such as through third party agents, middlemen, or
retailers.
7. Distribution
Distribution involves moving products from the point of origin
to the point of sale. Distributors may operate physical distribution centers,
such as warehouses, retail outlets, or shipping facilities. Distributors can also
facilitate transactions electronically, such as via the Internet. Once a
retailer receives the product, it may resell it or pass it along to another
party. Retailers may also purchase inventory directly from manufacturers. Many
businesses use distributors to move products into the marketplace.