MARKETING AS A MANAGERIAL FUNCTION

Good Essays
Topics: Marketing
MARKETING AS A MANAGERIAL FUNCTION
Marketing as a managerial activity involves analyzing the market opportunities, planning the marketing activities ,implementing marketing plans and setting control mechanism, in such a way that organizational objectives are accomplished at the minimum cost. In other words, marketing is:
1. Understanding consumer needs.
2. Environmental scanning and market opportunity analysis.
3. Developmental of competitive marketing plan and strategy such that an organization is able to satisfy not only the consumer needs but also achieve its objectives.
4. Implementation of marketing plan and development of tactical plans to overcome problems at the market place ; and
5. Development of control mechanisms.
Marketing is therefore, an important organizational function.
Interestingly, an important aspect of buyers is ignored, i.e that they too use the marketing ,sales and production concept. Buyer and marketer are roles played by individuals and their behavior in exchange relationship determines whether they are adopting the marketing, sales or production concept .For example, the buyer’s side in a marketing exchange gathers information about current and potential exchange partner. Then the buyer’s side tailors offerings like product, price or even point of purchase, mentioned above, but aggressively purchase exchange through other elements of the marketing mix, like word of mouth of publicity ,sales talk, etc. This has been termed as the buying concept, as it is the buyer’s form of the sales concept. Likewise ,when the buyer is passive in his buying behavior, accepting or rejecting whatever that has been offered to him and not actively seeking an exchange ,it has been termed as the offering concept as it corresponds to the production concept. Product
Products are the goods and services that your business provides for sale to your target market. When developing a product you should consider quality, design, features, packaging, customer

You May Also Find These Documents Helpful

  • Powerful Essays

    Managerial Functions

    • 3611 Words
    • 15 Pages

    Bangladesh for discharging managerial functions. To achieve this objective, 151 organizations from manufacturing and service industries have been surveyed with a structured questionnaire by using 5 point Likert scale. By identifying fourteen management accounting techniques, three factors have been identified to determine the variability’s of the usage level in managerial functions. The total variabilities in application of management accounting techniques in managerial functions of manufacturing and service…

    • 3611 Words
    • 15 Pages
    Powerful Essays
  • Better Essays

    Managerial Functions.

    • 929 Words
    • 5 Pages

    staffing, motivating, leading and controlling the resources of the organization. These functions also include counseling and coordinating with subordinates and peers. These resources include people, jobs or positions, technology, facilities and equipment, materials and supplies, information, and money. Managers work in an energetic environment and must foresee and adapt to challenges." Eight Managerial Functions Planning Planning involves selecting missions and objectives and the actions to achieve…

    • 929 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    Managerial Functions

    • 2744 Words
    • 11 Pages

    Managers………………………………………………………… 2 2.3 Low level Managers or first-line Managers…………………………………… 3 3.0 MANAGERIAL FUNCTIONS………………………………………………………. 3 3.1 Planning……………………………………………………………………….. 4 3.2 Organising……………………………………………………………………… 4 3.3 Leading or Directing…………………………………………………………… 5 3.4 Controlling…………………………………………………………………….. 6 3.5 Staffing………………………………………………………………………… 6 4.0 MODERN MANAGEMENT FUNCTIONS…………………………………………. 7 5.0 BENEFITS OF EFFECTIVE MANAGEMENT……………………………………… 7 5.1 Clear Vision………………………………………………………………………

    • 2744 Words
    • 11 Pages
    Powerful Essays
  • Powerful Essays

    Managerial Function

    • 5782 Words
    • 24 Pages

    REPORT ON THE MANAGERIAL FUNCTION OF MARK DALY MANAGER AT MARKS AND SPENCER TERMS OF REFERENCE To investigate, analyse and evaluate the managerial style operated by Mark Daly as part of OCR A2 Applied Business Studies Unit 11 and to present information that clearly demonstrates both integrated and strategic thinking. PROCEDURE An interview with Mark Daly on 13th March 2009. A questionnaire given to Marks and Spencer employees on _____ March 2009. A questionnaire given to Marks and Spencer…

    • 5782 Words
    • 24 Pages
    Powerful Essays
  • Good Essays

    Ten Managerial Functions

    • 685 Words
    • 3 Pages

    guidance and direction to work effort. The role of management in an organization is purely functional. It is not a role any more or less prestigious than any other role in the company. It is similar to the difference between marketing personnel and engineering personnel. The function of management is: Set up a plan (vision) for the company, group, or team being managed. Ensure that the management personnel can do their jobs with the up most efficiency. Resolve any disputes that arise.…

    • 685 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Set -1 1Q.Control (management) Controlling is one of the managerial functions like planning, organizing, staffing and directing. It is an important function because it helps to check the errors and to take the corrective action so that deviation from standards are minimized and stated goals of the organization are achieved in desired manner. According to modern concepts, control is a foreseeing action whereas earlier concept of control was used only when errors were detected. Control in management…

    • 3384 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    Managerial Functions & Roles Case Study “ Goerge Fisher Works to Turnaround Kodak” a. Identify and categorize each of Fisher’s activities according to the four functions of management : planning, organizing, leading(influencing) and controlling. Planning Planning involves identifying tasks that must be performed in order to achieve organization goals, outlining how the task must be executed and the time suitable for the execution of tasks. Planning is important in determining the organizational…

    • 1269 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    The Four Managerial Function

    • 3597 Words
    • 15 Pages

    Planning In simple words, planning is deciding in advance what is to be done, when, where, how and by whom it is to be done. Planning is the primary function of management. According to Koontz and O’Donnell, "Planning bridges the gap from where we are to where we want to go. It makes it possible for things to occur which would not otherwise happen”. The planning process, identifies the goals or objectives to be achieved, formulates strategies to achieve them, arranges or creates the means required…

    • 3597 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    Managerial and Supervisory Positions Knowledge How have you prepared yourself for this kind of position? What have you been doing to keep up to date in your field? How would you rate your level of expertise in [insert major function to be performed] compared with others in similar positions? Why do you rate yourself that way? In which areas do you feel you need to upgrade your knowledge? Why do you feel that way? What improvements did you introduce in your last position? How good is your…

    • 2416 Words
    • 10 Pages
    Good Essays
  • Good Essays

    years of knowledge in marketing, research and development, as well as continuity – consumers relate to this and feel they can trust our products. * High quality and collaboration: Our objectives are to deliver the very best quality in everything we do, from primary produce, choice of suppliers and transport, to recipes and packaging materials. Our operations and collaboration in the Nordic countries gives us greater opportunities to be efficient and strategic and to function well as an organisation…

    • 1036 Words
    • 4 Pages
    Good Essays