What is Marketing Management and its Scope – Marketing is basically an activity carried out by companies to promote and communicate their products and services to consumers or customers. Marketing within a company generally includes pricing, advertising, selling, and distributing products or services to consumers or customers who need them.
Whereas what is meant by Marketing Management is a series of processes of analysis, planning, implementation, and control of marketing aimed at achieving company goals. With this Marketing Management, the company is expected to be able to know and understand customer demand or needs well so that it can offer products or services that are really needed by customers.
What is Marketing Management according to Experts
To be more clear about Marketing Management or Marketing Management, here are some definitions or understanding of Marketing Management according to the Experts.
- Understanding of Marketing Management according to Sofjan Assauri (2013: 12), Marketing Management is the activity of analysis, planning, implementation, and control of various programs arranged in the formation, development, and maintenance of profit results from transactions / exchanges through market targets to achieve company goals in the long run long.
- Understanding Marketing Management according to Basu Swastha (2008: 5), understanding marketing management is a whole system of various business activities aimed at planning, pricing, promoting, and distributing goods / services that can satisfy the needs of both existing and potential buyers.
- Understanding Marketing Management according to Philip Kotler (2005: 9), Marketing Management is the process of planning and implementing, thinking, fixing promotional prices, and channeling the idea of goods and services to create exchanges that meet individual goals in organizations “.
- Understanding Marketing Management according to Buchori and Djaslim (2010: 5), Marketing Management is the process of planning and implementing conceptions, pricing, promotion, and distribution of ideas, goods, and services to produce exchanges that satisfy individuals and meet organizational goals.
Scope of Marketing Management (Marketing Management Scope)
Marketing has a very broad scope that includes all activities ranging from the concept of ideas to the realization of profits. The following are the elements or scope of Marketing Management in general.
1. Products and Services ( Products and Services )
Products and services are the most basic elements of marketing. If there is no product, there is no marketing. This element is related to the nature and type of product, product quality and design, product planning and development, product decisions related to branding, labeling, packaging to trademarks.
2. Marketing Research ( Marketing Research )
Although products and services are a basic element and starting point of marketing, successful marketing must begin with an analysis of various aspects of the market and related fields. This element includes analysis of the nature and type of customers, market size, customer attitudes, buyer behavior, and other customer and market factors. An in-depth analysis of customers and markets is a prerequisite for every marketer to have successful marketing.
3. Channel Distribution ( Distribution Channel )
What is meant by a Distribution Channel is a transfer path that is passed by a product from producers to consumers. This distribution channel includes a number of intermediaries such as wholesalers, retailers, and others. This Marketing Management helps determine which distribution channels are used to transfer ownership of goods/products from the seller to the buyer.
4. Physical Distribution ( Physical Distribution )
The physical movement of goods from producers to consumers is called Physical Distribution. The physical distribution includes transportation, warehousing, inventory control and management, order processing, and so on.
5. Decision Promotion ( Promotional Decisions )
No matter how good a product will have no meaningful value if it is not accompanied by the right promotion. The promotion has the basic purpose of informing the market about product availability and creating demand for it. There are various promotional tools such as advertising, sales promotion, personal selling, publicity, and also community relations approach.
6. Decisions Pricing ( Pricing Decisions )
This is the only marketing element that generates income for the company. Prices are related to policies and pricing strategies, pricing, discounts, commissions, and so on.
7. Analysis of Marketing Environment ( Environmental Analysis )
Environmental analysis is one of the most important elements of marketing management. Various macro and micro factors must be studied beforehand to understand the strengths, weaknesses, opportunities, and threats to their products and services. An environmental analysis can not only help a company to formulate its strategy but also its marketing strategy. This element includes research on the economic environment, geographical environment, political and legal environment, social and cultural environment, and the natural and technological environment both domestically and abroad.
8. Feedback from customers ( Feedback from Customers )
To be able to market a product or service successfully, it is important for marketers to get the required feedback from customers. Marketers must develop an appropriate feedback mechanism so that customer dissatisfaction can be identified and make improvements to the product produced.