The Science of Marketing Management

The Science of Marketing Management

Marketing is essentially the act of consciously stimulating demand for products and services; including analysis of market structures; selection of a target market; identification of certain characteristics or styles of communication that will be appealing to potential customers; and the utilization of marketing tools and media to exploit this attraction. Marketing, therefore, is not merely “the sale of advertising space.” It is also the utilization of various marketing tools and media in combination with market study and evaluation. Market study is the study of consumer behavior and preference, especially as it relates to product and/or service choices.

marketing

This article focuses on the concept of coordinated marketing communications and marketing tools. In the broadest sense, marketing is any method by which organizations develop, produce, and deliver a product or service that has a significant probability of satisfying customer needs. The elements of marketing are diverse and complex, and marketing can take many forms and rely upon many underlying principles and concepts. However, the overall goal of marketing is to satisfy customer needs and obtain profit.

Organizational Marketing is intimately connected with all other aspects of corporate strategy. Marketing is basically a communication process between a selling organization and their customers, designed to inform and sell. It is the art of selling to the general public. The essence of marketing lies in creating a targeted communication with potential buyers and sellers. Therefore, all marketing management efforts should seek to achieve an increase in customer satisfaction. The ultimate objective of marketing management is to maximize profits through a coordinated effort among the various selling elements within an organization.

One of the primary objectives of marketing myopia is to avoid repeating the same messages to the same people over. For example, when Nike releases a new running shoe model, its marketing concept should be distinct from that of other manufacturers. In essence, Nike’s marketing concept should be unique and not the same old rehashed message from another company. The company should be able to distinguish itself from competitors by coming up with new ideas, marketing campaigns, product concept, advertisement, packaging, and other factors.

All marketing strategies have an effect on consumers. For example, marketing concepts like the consumer recall, or “word of mouth”, will always remain relevant because consumers are the key to success. Therefore, a company should always keep in mind that if consumers perceive a certain service or product to be good, they will talk about it. This type of marketing can be used for brand building and product positioning. It can also be utilized to provide consumers with the information they need when it comes to a product concept or advertising campaign.

A primary objective of marketing management is to satisfy the customer. If a company fails to satisfy the customer, they are not doing business correctly. The goal of marketing is to gain profit and convince the customer that they need the product. A firm should never forget this basic principle of pleasing the customer. The internet is one of the easiest ways today to satisfy the customer; therefore, companies should use it extensively to ensure satisfaction.