Introduction to Marketing Management
Marketing Management is the branch of Management studies which specializes in dealing with marketing and understanding it better. In simple words, marketing means publicity of a product or a brand and to make it known to the public so that they purchase it or so that the reputation of the brand goes up.
Marketing is a broad concept which includes several things. Marketing management involves studying about the marketing mix which can be time taking. Marketing Management is a function of taking us tasks and programmers in such a way that organizational objective can be achieved. For example, if the company sells 200 units a day on average and it wants to sell 300 units, they would have to take up some form of marketing to market their project and achieve their target. This is what forms the base of the marketing management. Marketing management is dynamic and needs to be adapted per organization in a different manner as every organization has separate goal. For some organizations, sales matter the most and for some brand creation is the primary agenda.
Due to the increasing competition in the markets, marketing management has become extremely relevant and important for every business organization, big or small. In order to get the maximum market share, even the best quality of goods requires marketing strategies and campaigns. To organize and manage all of this, marketing management plays an important role. It is an important subject in any curriculum and is now taught universally.
Difficulties encountered in writing Marketing Management assignment/assessments?
Marketing Management is a subject which requires a lot of practical knowledge along with theoretical knowledge. Students are mostly asked to do research and make campaigns and analyze them. They are given numerous assignments for Marketing Management so that they get hands on experience. Marketing Management as a subject requires a lot of research. It requires students to know about marketing strategies used throughout the world for different products and brands. Students are given case studies for which they might have to do surveys and primary research. All this makes Marketing Management an extremely tough subject and especially with extremely tough and time-taking assignments. These assignments require focus and also creativity and innovation.
Marketing Management is all about thinking ahead and thinking out of the box. Students are pushed to think of new ideas and analyze the feasibility of those ideas.
It involves quantitative analysis to be able to analyze the data from the consumers and make meaning out of it. It is extremely important as without analyzing data, making marketing strategies would be useless and not fruitful. Marketing Management also involves merchandising and brand auditing to make the best out of the brand.
It is a difficult subject as it includes various processes like introducing a new product to the market, increasing market share of business, export of the products, and development of the brand name for the product as well.
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