Managing Marketing Activity

Study Notes

Marketing Activities

Marketing functions help move goods and services into the hands of consumers by creating utility and facilitating the exchange process.
Participants in an exchange include wholesalers, retailers, facilitating intermediaries (middlemen), and final consumers.

Task of Marketing Management

Determine and influence consumer needs.
Coordinate product design to provide a competitive edge.
Provide adequate product availability.
Create a proper company image through actions, advertising, and promotions.
Establish sales objectives and create plans to achieve them.
Create commercial policies and an effective pricing policy.
Minimize commercial risks.

Role of Marketing Manager

Sets the tone for marketing thinking and its execution in the company.
Coordinates all marketing activities in line with chosen goals and objectives.
Improves company products, enables low-cost production, and produces products of wider or greater utility.

Roles of Marketing Manager

Establishing marketing objectives that are complete, realistic, and supported by top management.
Converting objectives into a marketing plan with actual steps and a budget.
Frequently reviewing objectives and progress evaluation.
Converting objectives into company action through market planning.

Characteristics of Objectives

Complete and realistic.
Lead to formation of broad plans and programs.
Have the support and approval of top management.

Factors to Consider in Establishing Objectives

Past and present marketing costs allocated to each division of product, territory, and organization.
Capabilities of existing production facilities and their degree of utilization.
Profitability of the product line and volume affects on profitability.
Degree of utilization of existing personnel.
Past and present position of the company in the market, and its probable growth or decline.
Marketing difficulties or weaknesses.
The spread of the corporate base or stability offered by the existing sales pattern and its probable trend.
The corporate image of the company.

Description

Explore the spectrum of marketing functions that facilitate the exchange process between participants such as wholesalers, retailers, and final consumers. Learn about the tasks of marketing management and the role of facilitating intermediaries in moving goods and services to consumers.