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Monday, 17 September 2018

Features of Marketing Management

 Marketing management has several major features;

(1) A Managerial Orientation; This deals with major decisions that marketing managers face in their efforts to harmonize the objectives, core competence and the resources of the organization with the needs and opportunities in the market.

(2) Analytical approach; This deals with the presentation of a frame work for analyzing recurrent problems in marketing management. Actual company cases are introduced to illustrate the marketing principles,strategies and practices.

(3) A Basic Discipline Prospective; It draws from economies behavioural science,management theory and mathematics. Economics provides fundamental concepts and tools for seeking optimal results in the use of scarce resources. Behavioural science provides fundamental concepts and tools for understanding consumers and organizational buyer behaviour. Management theory provides a frame work for identifying the issues facing management and guideline for their satisfactory resolution. Mathematics provides an exact language for expressing relationships among important variables.

(4) A Universal Approach; This deals with the application of marketing thinking to produce the services,consumer and business markets,profit and non profit organisation,domestic and foreign companies,small and large firms l,manufacturing and middle men business and hi tech industries.