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Marketing management is “planning, organising, controlling and implementing of marketing programmes, policies, strategies and tactics designed to create and satisfy the demand for the firms' product offerings or services as a means of generating an acceptable profit.”
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From Marketing Management
Pricing objectives differ by business goals. Any three are:
Thus, objectives guide the choice of method and strategy.
Positioning is designing the offering and image so that the brand occupies a distinct place in the mind of the target customer compared to competitors.
Positioning statement format:
"For (target customer), (brand) is the (frame of reference) that (key benefit) because (reason to believe)."
Example: For busy students, Brand X is the instant snack that is tasty and affordable because it is ready in 2 minutes.
Marketing management process is a systematic approach to analyse the market, choose target customers and design strategies to achieve objectives.
Steps (exam-style):
Simple flow:
Thus, marketing management converts customer needs into a practical plan and ensures continuous improvement.