Marketing Management:

Marketing Management:

Marketing management is “the art and science of choosing target markets and building profitable

relationships with them.” Creating, delivering and communicating superior customer value is key.

Marketing management is the conscious effort to achieve desired exchange outcomes with target

markets. The marketer’s basic skill lies in influencing the level, timing, and composition of demand

for a product, service, organization, place, person, idea, or some form of information.

Marketing Management is defined as the analysis, planning, implementation, and control of

programs designed to create, build, and maintain beneficial exchanges with target buyers for the

purpose of achieving organisational objectives. Which are:

Demand Management - marketing management is concerned with increasing demand, as well as

changing or even reducing demand. Marketing management is concerned not only with finding and

increasing demand, but also with changing or even reducing it.

1). Demarketing: Marketing to reduce demand temporarily or permanently; the aim is not to

destroy demand but only to reduce or shift it. Demarketing’s aim is to reduce demand temporarily

or permanently (move traffic away from a popular tourist attraction during peak demand times).

2). In reality, marketing management is really demand management.

Building Profitable Customer Relationships - Beyond designing strategies to attract new

customers, marketing organizations also go all out to retain current customers and build lasting

customer relationships. (This is our second topic to be discussed today).