Electronic Retailing | Definition, Types, Examples & Advantages

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✏ Table of Content: Electronic Retailing Meaning Definition of Electronic Retailing Features of e-Retailing Types of Electronic Retailing Electronic Retailing Examples Strategy of Electronic Retailing Advantages of Electronic Retailing Disadvantages of Electronic Retailing What is Electronic Retailing ? Electronic retailing (often referred to as e-tailing or online retailing) is the process of selling goods and services to consumers through … Read more

Marketing Strategy | Definition, Types, Examples, Steps, Advantages & Disadvantages

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✏ Table of Content : What is a Marketing Strategy ? Definition of Marketing Strategy Objectives of Marketing Strategy Marketing Strategy Types How to Create a Marketing Strategy ? Advantages of Marketing Strategy Disadvantages of Marketing Strategy What is Marketing Strategy ? Marketing strategy is a comprehensive and well-thought-out plan that outlines an organization’s approach … Read more

Telemarketing | Definition, Types, Techniques, Examples & Advantages

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✏ Table of Content : Telemarketing Meaning Definition of Telemarketing Objectives of Telemarketing Types of Telemarketing Telemarketing Skills Techniques Telemarketing Examples Telemarketing Strategy Regulations in Telemarketing Advantages of Telemarketing Disadvantages of Telemarketing What is Telemarketing ? Telemarketing is a marketing strategy that involves using telephone communication to promote products, services, or ideas to potential customers. It’s … Read more

Go-To-Market Strategy | Definition, Types, Examples, Framework & Advantages

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✏ Table of Content : What is Go-To-Market Strategy ? Definition of Go-To-Market Strategy Objectives of Go-To-Market Strategy Types of Go-To-Market Strategy Go-To-Market Strategy Examples Go-To-Market Strategy Framework or Steps Advantages of Go-To-Market Strategy Disadvantages of Go-To-Market Strategy What is a Go-To-Market Strategy ? A Go-To-Market (GTM) strategy is a comprehensive plan that outlines how a … Read more

Content Marketing | Definition, Types, Examples, 5 C’s & Strategy

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✏ Table of Content : Content Marketing Meaning Definition of Content Marketing Objectives of Content Marketing Types of Content Marketing 5 C’s of Content Marketing Content Marketing Examples Content Marketing Strategy Framework Content Marketing Services Advantages of Content Marketing Disadvantages of Content Marketing What is Content Marketing ? Content marketing is a strategic approach to … Read more

Global Marketing | Meaning, Types, Examples, Strategy, Benefits & Drawbacks

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Imagine your favorite local brand, the one that feels like home, suddenly becoming available on the other side of the world. It’s exciting, right? That’s the magic of global marketing—taking something familiar and beloved and sharing it with a global audience. But, just like planning a trip to a new country, entering a new market … Read more

Cause Marketing | Meaning, Types, Example, Strategy, Benefits & Drawbacks

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Imagine walking into your favorite coffee shop, ordering your usual latte, and learning that part of what you just paid is going to help plant trees in a deforested area. Suddenly, your morning routine feels a little more meaningful, right? That’s the magic of cause marketing—it’s where everyday choices contribute to something bigger, something that … Read more

Guerrilla Marketing | Definition, Types, Examples, Strategy & Objectives

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✏ Table of Content : Guerrilla Marketing Meaning Definition of Guerrilla Marketing Objectives of Guerrilla Marketing Characteristics of Guerrilla Marketing Types of Guerrilla Marketing Examples of Guerrilla Marketing Advantages of Guerrilla Marketing Disadvantages of Guerrilla Marketing Guerrilla Marketing Strategy Guerrilla Marketing Cost What is Guerrilla Marketing ? Guerrilla marketing is a creative and unconventional advertising strategy that aims to … Read more

What is Marketing Management ? | Definition, Process, Objectives & Functions

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Marketing Management

Contents :

  1. Meaning & Definition of Marketing Management.
  2. Objectives of Marketing Management.
  3. Process of Marketing Management.
  4. Functions of Marketing Management.

What is Marketing Management ?


Marketing management is a composition of two terms ‘Marketing’ and ‘Management’. Where, the term ‘marketing’ is a set of actions and processes of a company associated with buying and selling of goods or services. “Management” is a function of coordinating the integrated efforts of people towards a common goal by effective utilization of available resources.

Marketing management is an organizational approach which focuses towards the accomplishment of marketing objectives of the organization such as achieving customer satisfaction, securing high sales and profit, etc.

Therefore, it includes various techniques and processes aimed at fulfilling all the inter-related marketing objectives.

Definition of Marketing Management 


According to the American Marketing Association : 
“Marketing Management is the process of planning and executing the conception, pricing promotion and distribution of ideas, goods and service to create exchanges that satisfy individual and organizational objectives”.

Consequently, marketing management is the most practical aspect of business management which deals with needs and wants of consumers, determines the promotion and pricing strategies to generate demand for goods and services or new product development, then distribute these products or services to final consumers, and lastly to collect customer feedback and other information regarding the customer satisfaction.

Objectives of Marketing Management 


The main objective of all enterprises is to satisfy the customer needs and attain maximum profit. In the similar way, marketing management aims to accomplish these business objectives effectively. Some of the basic objectives of marketing management are as follows:

1) Creating New Customers : 
The prime objective of marketing manager is to build new customers for the company’s product. Managers Use different techniques like advertisement, sales promotion, etc., to attract new customers. This objective helps in increasing sales of the organization.

2) Satisfying Customer’s Needs and Wants :
Marketing managers should carefully determine the needs and demands of the customers in order to satisfy them with its products and services. The process of marketing management is customer-oriented and all its marketing activities revolve around customers.

3) Increasing the Business Profitability :
Marketing department is the main source of income for the organization. The productivity and profitability of marketing department ensures long-term survival and success of the organization. Hence, profit-making is one of the major aims of marketing management which can be guaranteed through high sales volume.

4) Enhancing the Standard of Living : 
Another key objective of marketing management is to enhance the living standards of people. Therefore, marketing involves various innovative techniques and marketing research to introduce wide range of goods and services to the consumers.

5) Managing the Marketing Mix : 
Marketing mix refers to the association of four basic elements of marketing i.e., product, price, place and promotion (4 Ps). Marketing management helps to effectively plan and implement these elements in the most appropriate manner to meet the customer demands.