Definition of Marketing Management, Goals, and Concepts in Business

Definition of Marketing Management

Definition of Marketing Management

Marketing is one of the important activities in a business. In fact, the achievement of a company’s success is influenced by their efforts in managing marketing management. Without good marketing management, it is possible that the marketing process will not run efficiently. In the worst situation, these conditions can cause the company to lose money.

By paying attention to the important role of marketing management, a businessman needs to understand this aspect carefully. This knowledge is also needed not only by large entrepreneurs, but also by micro, small and medium enterprises (MSMEs). Furthermore, you can place the figure and use the right tools to support the good management of the company’s product marketing.

Read also: Definition of Management, Functions, Elements, Style, and Types

Understanding Marketing Management According to Experts

Understanding Marketing Management According to Experts
Understanding Marketing Management According to Experts. Image: pexels.com

In a general sense, marketing management is a set of activities covering the planning, controlling, and analysis processes related to product marketing. Furthermore, the company can implement the right strategy so that products can be distributed to consumers properly and generate profits.

Furthermore, several economists also have an understanding of marketing management separately, including:

  • Prof. Dr. Sofjan Assauri

    Professor of the Faculty of Economics, University of Indonesia, Prof. Dr. Sofjan Assauri, said that marketing management is a process of analysis, planning, controlling, and implementing a company management program. This set of programs is implemented with the aim of obtaining and maintaining profits in an effort to meet the long-term achievements of the company.

  • Philip Kotler

    There is also an explanation of the meaning of marketing management from Philip Kotler, who is a Professor of International Marketing at Northwestern University’s Kellogg School of Management. Kotler revealed that marketing management is a combination of art and science in choosing the right target market so that they can make a profit.

    In its implementation, Kotler said that marketing management involves various activities, including planning, analysis, controlling, and implementing policies related to product marketing. Furthermore, good marketing management can provide satisfaction to the parties involved.

Marketing Management Purpose

Marketing Management Purpose
Marketing Management Purpose. Image: pexels.com

There are five main objectives related to implementing marketing management in business, namely:

1. Opening up new opportunities

The first goal of marketing management is the opportunity to get new opportunities. You can achieve this goal by providing products according to consumer needs or tastes.

2. Encourage customer satisfaction

Marketing management is also closely related to customer satisfaction. Instead of prioritizing sales figures, companies need to focus on customer satisfaction levels.

3. Increase market share

The next goal of marketing management is to increase market share. If you have a large market share, you can be sure that the sales figures are also very high. For this reason, companies need to carry out several strategies such as promotions, packaging innovations, giving discounts, and so on.

4. Get more profit

The existence of the marketing division aims to provide a source of income for the company. Therefore, the management must be able to ensure that each product has a satisfactory sales figure and is able to provide a profit for the company.

Read also: How to Calculate the Selling Price of Your Product to Get Big Profits?

5. Corporate Image

Not to forget, marketing management aims as a means of imaging. A positive image can help the smooth sale of products from the company.

Marketing Management Concepts

Marketing Management Concepts
Marketing Management Concepts. Image: pexels.com

In marketing efforts, companies need to know the concept of marketing. The goal is to analyze the level of consumer needs and a basis for decision making. There are many marketing concepts adopted by modern companies. However, there are three main marketing concepts that you need to know, namely:

1. Production concept

In understanding this concept, companies need to focus on products. Ensure that the production process runs efficiently and gets an affordable supply of raw materials.

2. Sales concept

Meanwhile, the sales concept does not only encourage companies to produce products. However, they also try to convince consumers in various ways, including advertising.

3. Marketing concept

Lastly, there is a market-focused marketing concept. You need to know the market segment, size, and what it takes to start marketing activities there. Simply put, this concept emphasizes the level of customer satisfaction.

Well, that’s the understanding of marketing management you need to know. To help run smoothly in marketing activities, you need the right support for the device. iREAP POS is a powerful software which helps you to marketing management better.

This application is not only useful for recording sales. However, you can also use it to increase customer satisfaction. Isn’t that interesting?

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