Marketing Management : Introduction
Business is omnipresent in our day-to-day life and for a potential growth
in the market, all kinds of organizations depend on the promotion of their
products. For that every firm requires professionals with sales or marketing
background. Marketing is a business discipline which is focused on the
application of marketing techniques and administrating an organizations
marketing resources. In simple words, marketing is the method of convincing
people about a product / concept using different ideas and thus help the
business grow. This field which involves advertising, distributing and
selling of a product is regarded as the most important element in the
growth of any company.
Marketing / Sales Management involves studying the marketability of the
product involved and the measures to enhance sales and implementing the
same. Even though the term marketing has been derived from its initial
word 'market', the place where transactions between buyers and sellers
occur, it is much more than the original meaning. It is a well planned
process of exchange between the customers and the sellers. A marketing
process consists of four major Ps; i.e Product, Pricing, Placement and
Promotion.
Marketing personnel are professionals appointed by the company for convincing
the clients and make them buy a product that the business offers. They
are the people who create brands and promote their products and services.
Sales and Marketing are two of the ever flourishing career sectors in
the world and those having a knack for convincing people can find excellent
job openings in this field. No specific qualification is required to enter
the field, but a managerial position in marketing requires MBA graduates
preferably with marketing as the specialized area. Success in this
profession depends on ones marketing skills, which include communication,
tact, creativity, stress and time management.
According to American Marketing Association (AMA) marketing is "the
activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.” The term marketing applies not only to
private business firms but also to almost all other organizations such
as government, social service institutions, NGO's etc.
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