Marketing Management

Study Notes

Marketing management: the process of planning, organizing, and controlling marketing activities to achieve business objectives.
Involves analyzing market opportunities, selecting target markets, developing marketing mix strategies, and managing marketing performance.

Marketing Mix: also known as the 4 Ps, consists of:
1. Product: goods or services offered to meet customer needs.
2. Price: amount charged for the product or service.
3. Promotion: communication and persuasion to sell the product or service.
4. Place: channels and logistics for delivering the product or service to customers.
Target Market: a specific group of customers with similar needs and characteristics.
Competitive Advantage: a unique benefit that sets a company apart from competitors.
Customer Lifetime Value (CLV): the total value a customer brings to a company over their lifetime.

Marketing Research: gathering and analyzing data to understand customer needs and market trends.
Marketing Segmentation: dividing a market into distinct groups based on customer characteristics.
Marketing Positioning: creating a unique image and identity for a product or service in the customer's mind.
Marketing Mix Strategy: developing a tailored marketing mix for each target market.
Performance Measurement: tracking and evaluating marketing performance using metrics such as sales, market share, and customer satisfaction.

Marketing Planning: developing marketing strategies and tactics to achieve business objectives.
Market Intelligence: gathering and analyzing data to stay informed about market trends and competitors.
Product Management: overseeing the development, maintenance, and improvement of products or services.
Brand Management: building and maintaining a brand's reputation and image.
Sales Management: leading and managing sales teams to achieve sales objectives.

Marketing management involves planning, organizing, and controlling marketing activities to achieve business objectives.
It includes analyzing market opportunities, selecting target markets, developing marketing mix strategies, and managing marketing performance.

Marketing mix, also known as the 4 Ps, consists of product, price, promotion, and place.
Product refers to goods or services offered to meet customer needs.
Price is the amount charged for the product or service.
Promotion involves communication and persuasion to sell the product or service.
Place refers to channels and logistics for delivering the product or service to customers.
Target market is a specific group of customers with similar needs and characteristics.
Competitive advantage is a unique benefit that sets a company apart from competitors.
Customer lifetime value (CLV) is the total value a customer brings to a company over their lifetime.

Marketing research involves gathering and analyzing data to understand customer needs and market trends.
Marketing segmentation divides a market into distinct groups based on customer characteristics.
Marketing positioning creates a unique image and identity for a product or service in the customer's mind.
Marketing mix strategy involves developing a tailored marketing mix for each target market.
Performance measurement tracks and evaluates marketing performance using metrics such as sales, market share, and customer satisfaction.

Marketing planning develops marketing strategies and tactics to achieve business objectives.
Market intelligence gathers and analyzes data to stay informed about market trends and competitors.
Product management oversees the development, maintenance, and improvement of products or services.
Brand management builds and maintains a brand's reputation and image.
Sales management leads and manages sales teams to achieve sales objectives.

The assignment is for BBA 5th semester students, with a course code of BBA 3733.
The instructor's name is Mrs. Pinky Sharma.

The assignment is to create a report on the marketing plan of a selected product.
The report must be in APA format, with the following mandatory components:
Title page
Acknowledgement
Abbreviation
Executive Summary
Table of Contents
Reference

The assignment must be submitted electronically to the instructor before the hard copy is submitted.
The hard copy must be submitted to the front office after approval from the tutor.
Direct submission to the faculty will not be entertained for internal marks.
All assignments will be tested for plagiarism using software.