The Marketing Management Process

The Marketing Management Process - The Marketing Management...

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The Marketing Management Process:  is the process of: Planning Marketing activities Directing the implementation of the plans Controlling these plans What is Marketing Strategy? Strategic Management planning:  the managerial process of developing and  maintaining a match between an organization’s resources and its market opportunities.  Marketing Strategy  specifies a target market and a related marketing mix Target Market:  a fairly homogenous group of customers to whom a company wishes to  appeal Marketing Mix:  The controllable variables the company puts together to satisfy this  target group.  Selecting a Target Market and deciding upon a marketing mix are interrelated.  Target Marketing Target Marketing:  a marketing mix is tailored to fit some specific target customers. Mass Marketing:  the typical production oriented approach that vaguely aims at  everyone with the same marketing mix. 4 Ps: Product:  This is the good or service that will satisfy your customer’s needs Branding, packaging, and warranties Place:  decisions involved in getting the “right” product to the target market’s place. Reaches the customer through a  Channel of distribution Or through direct selling Promotion:  concerned with telling the target market or others in the channel of 
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The Marketing Management Process - The Marketing Management...

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