Table of Contents
- Introduction
- Product Marketing
- Pricing
- Promotion
- Place
- Market Research
- Brand Management
- Customer Relationship Management
- Conclusion
Introduction
Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to achieve the company's objectives. It involves analyzing customer needs and wants, developing marketing strategies, and creating a marketing mix that will satisfy those needs and wants. The marketing mix is composed of four elements: product, price, promotion, and place. In this article, we will discuss what is marketed in marketing management.
Product Marketing
Product marketing is the process of bringing a product to the market. It involves identifying the target market and creating a product that will meet their needs and wants. The product should have a unique selling proposition that differentiates it from its competitors. The product marketing mix includes product design, packaging, branding, and product support.
Pricing
Pricing is the process of determining the value of a product or service and setting a price that will attract customers and generate profits. It involves analyzing the costs of production, competition, and customer demand. The pricing strategy should be based on the company's objectives and the target market's willingness to pay. The pricing mix includes pricing strategy, discounts, and payment terms.
Promotion
Promotion is the process of communicating with customers and persuading them to buy the product or service. It involves creating a message that will appeal to the target market and using various channels to deliver that message. The promotion mix includes advertising, personal selling, sales promotion, public relations, and direct marketing.
Place
Place is the process of making the product or service available to the target market. It involves selecting the appropriate distribution channels and managing the supply chain. The place mix includes distribution channels, logistics, and inventory management.
Market Research
Market research is the process of collecting and analyzing data about the target market. It involves identifying customer needs and wants, market trends, and competition. The market research should provide insights that will help the company to develop effective marketing strategies.
Brand Management
Brand management is the process of creating, developing, and managing a brand. It involves creating a unique brand identity and image that will differentiate the product or service from its competitors. The brand management mix includes brand identity, brand image, and brand equity.
Customer Relationship Management
Customer relationship management is the process of managing customer interactions and relationships. It involves identifying customer needs and wants, providing personalized services, and building customer loyalty. The customer relationship management mix includes customer data analysis, customer service, and customer retention programs.
Conclusion
Marketing management is a complex process that involves various activities aimed at achieving the company's objectives. The marketing mix includes product, price, promotion, and place. In addition, market research, brand management, and customer relationship management are essential components of marketing management. By understanding what is marketed in marketing management, companies can develop effective marketing strategies that will satisfy customer needs and wants and generate profits.
LSI Keywords: marketing mix, product marketing, pricing strategy, promotion mix, place mix
NLP Keywords: customer needs, marketing strategies, market research, brand identity, customer loyalty