Managerial Procedures for Marketing Involves
Before Marketing Involves and planning process that seeks to establish a clear direction and unified purpose for all marketing efforts. Its conclusions are documented in a marketing plan that is regularly updated.
(i) Choosing a target market, say a manufacturer may choose to make readymade garments for children up to the age of 5 years;
(ii) In respect of the target market chosen, the focus of the process of management is on getting, keeping as well as growing the customers. That means the marketer has to create demand for his products so that the target customers purchase the product, keep them satisfied with the firm’s products and also attract more customers to the firm’s products so that the firm can grow; and
(iii) The mechanism for achieving the objective is through creating, developing and communicating superior values for the customers.
Marketing management involves performance of various functions such as analyzing and planning the marketing activities, implementing marketing plans and setting control mechanism. These functions are to be performed in such a way that organization’s objectives are achieved at the minimum cost.