“What is Marketing Management?”
Most people think of marketing management as finding enough customers for the company’s current output, but this is too limited a view. The organization has a desired level of demand for its products.
At any point in time, there may be no demand, adequate demand, irregular demand, or too much demand, and marketing management must find ways to deal with these different demand states (Managing Demands Effectively). Marketing management is concerned not only with finding and increasing demand, but also with changing or even reducing it. Thus, marketing management seeds to affect the level, timing, and nature of demand in a way that helps the organization achieve its objectives. Simply put, marketing management is demand management.
We define marketing management as the analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Marketing managers include sales managers and salespeople, advertising executives, sales-promotion people, marketing researchers, product managers, pricing specialists, and others. We will discuss these marketing jobs more in other articles.