It is more difficult than it seems to effectively assume the function of marketing manager. Any marketing management professional will confirm that the role is equally divided between strategy, planning, execution and analysis. It is easy to understand why. Marketers who rely on a well-documented strategy are 313% more likely to succeed than their counterparts whose marketing process does not follow such a strategy.
But what is the role of marketing management in a broader business context and how does it help companies prepare for the future, understand their customers, improve internal processes and create valuable products and services? Discover all this and more in our guide to marketing management.
What is Marketing Management?
Marketing management is the creation, planning, and implementation of strategies that help achieve broader business goals, such as increasing brand awareness, increasing profits, and developing untapped markets. . For a better understanding of marketing management, check out two marketing experts, Philip Kotler and Kevin Lane Keller. In their book Marketing Management, they define the standard definition of marketing management as "the development, design, and implementation of marketing programs, processes, and processes." Activities that define the scope and interdependencies of the business environment”.
These marketing management professionals study customers, have an in-depth knowledge of methods and strategies for satisfying customers, and take proactive steps to measure success and optimize internal marketing processes.
Take secondary school teachers, they don't just teach. You need to understand your students, develop methods and strategies for communicating information, and monitor their progress by evaluating and recording their performance. Essentially, a good marketing process should build brand momentum, establish a strategic marketing vision for the entire organization, and align resources to achieve it.
International marketing management
International marketing management includes marketing activities conducted across borders.
Therefore, marketers must have a thorough understanding of the customer base in each country where the product is sold, including cultural nuances and country-specific demographics.
If you sell products in multiple countries, you may need to interact with marketers in the same country, which will increase your marketing management responsibilities. To better reach domestic customers, you may need to hire local staff or hire a third-party marketing agency.
Why is marketing management important?
Marketing management is important because reaching and engaging potential customers is an integral part of your business strategy. You can spend years preparing for a product launch, but without marketing management, you will inevitably run into obstacles.
Marketing management helps you understand what your customers want from the start, right through to colors and packaging. Without them, your product might not even attract customers.
After spending a lot of time preparing for the launch of your product or service, it's important to make the right marketing decisions to reach your ideal prospects through the right channels at the right time. Good marketing management can make the difference between an average business and a successful one. This requires marketing decision-making teams to be able to analyze customer profiles and market share upstream, and ask questions about campaign results, teams, ROI and costs afterwards. the completion of the project.
What are the marketing management processes?
Marketers can use various processes to streamline their marketing efforts. The most common steps are:
- Market and customer analysis: This marketing management process consists of understanding the company's current position in the market and analyzing consumer behavior.
- Development of strategy, goals and objectives: where does the company want to go? How will she get there? The next step after market and customer analysis is to develop a strategy for the future.
- Product development: Marketing managers play a key role in product development. When highlighting the benefits of your product, these experts can help you create a strong message that matches your brand image.
- Marketing program execution: Once promising programs and campaigns have been identified, the next step is to allocate the appropriate resources to launch them.
Monitoring and Control: Analyzing the success of marketing programs and activities is an important process. The planning and implementation of future activities will be based on the results of this analysis.
How do you develop a marketing management strategy?
The development of a marketing management strategy aims to support the overall marketing strategy of the company. While marketing strategy is about the overall business goals of reaching customers and markets, marketing strategy management involves creating marketing plans to achieve those goals and the various strategies to ensure success, including the use of 'tools.
Marketing strategy often begins with a brand audit designed to allow the company to ask and answer a number of questions that can guide future marketing management strategies. Companies should try to understand the following points regarding the current situation:
- How does your current brand strategy work?
- What are your strengths and weaknesses in terms of resources and expertise?
- What dangers should be avoided and what opportunities should be seized?
- How does its price and cost compare to competitors' prices?
- What strategic challenges might your business face?
A brand audit gives companies a complete picture of their competitive advantage in the market and the obstacles they will need to overcome in the future to maximize their profitability. Once relevant team members have answered these questions, you can set goals and make strategic marketing decisions to drive your company's marketing vision. A marketing management strategy represents the set of activities necessary to achieve a company's strategic marketing objectives and includes such things as pricing, product specifications, market locations, and advertising. To develop a marketing management strategy, marketers first need a thorough understanding of data related to market share, customer profiles, and all past marketing campaigns and activities.
A good marketing management strategy should address the basic concepts of marketing management. This includes philosophies and their associated traits.
How to implement a marketing strategy?
The implementation of a marketing strategy relies on several methods, tools and resources.
Marketing management activities
To achieve this goal, a marketing management strategy should consist of a wide range of marketing channel management activities related to pricing, product, placement, and advertising. This is commonly referred to as the marketing mix. The role of the marketing manager is to coordinate each of these elements to maximize sales and return on investment.
Marketing management activities fall into the following categories:
- Price: Price is the monetary value assigned to the product. It depends on production costs, target customer segments and their ability to pay, and product demand.
- Products: The products in the market must be optimized according to the target audience of the rest of the marketing mix in order to achieve the overall objective.
- Location: In marketing management, location refers to the general and specific locations where customers can purchase products, Online or in-store availability and corresponding specific locations.
- Promotion: Finally, various advertising channels, direct marketing, press releases and even incentives can be used to promote the optimized and manufactured products.
What is meant by an extended marketing mix?
marketing management philosophy
There are many marketing management philosophies that determine marketing direction, positioning and activities. We often talk about the "concept of marketing management".
These concepts have evolved over time, but they generally influence the prioritization of marketing efforts.
- Production concept: focus on production efficiency
- Product concept: Top priority to product quality.
- Sales concept: customer satisfaction first
- Marketing concept: focus on sales through customer satisfaction
- Social Concepts: Prioritizing the Social Impact of Marketing Activities
These concepts help marketers strategize and refine their approach. It also determines how they are tracked, as each concept has its own benchmarks and measures of success.
Characteristics of marketing management
The characteristics of marketing management differ from the philosophy of marketing management in that they describe the overall goals that marketing management strategies seek to achieve. Marketing management features include:
- Understanding and responding to customer needs becomes easier
- It contributes to the achievement of the general objectives of the compan
- Icludes all kinds of activities
- Facilitate communication between buyers and sellers
It is important to keep these characteristics in mind when developing a marketing management strategy.
For example, a marketing management strategy should include research and data collection that enables the marketing team to understand customer expectations, needs, and requirements. At the same time, the marketing management strategy should pursue the business goals of the company and ultimately lead to a successful exchange of goods between the company and its customers.
What is the role of a marketing manager?
Depending on the size of the business, marketing manager roles vary in importance and responsibility, from analyzing customer data to managing a brand's social media accounts.
In small and medium-sized businesses, managers may be responsible for:
- Establish goals and objectives for the company's marketing department
- Conduct customer surveys to identify ideal market segments for corporate campaigns
- Coordinate graphic design of materials with third party event vendors or other departments
- Monitor and manage marketing budgets and make changes to ensure products and services are marketed appropriately
What are the different marketing management positions?
- Digital Marketing Manager: A digital marketing manager develops, implements and directs online marketing campaigns aimed at promoting a company's products and services and increasing brand awareness
- Product Marketing Manager: Based on market research, the Product Marketing Manager designs a marketing plan to communicate new product features and benefits to customers. We also reflect the voice of the customer internally to ensure that our products meet the needs of our customers.
- Brand Marketing Manager: The Brand Marketing Manager ensures consistency of brand messages and images across the organization and develops strategies to increase brand awareness in the market.
- Content Marketing Manager: The content marketing manager's primary responsibility is to create effective, valuable, and consistent content that promotes the company's products and services to potential customers.
- Social Media Marketing Manager: The Social Media Marketing Manager is particularly focused on optimizing the company's communications and interactions on social media such as Facebook, Twitter and Instagram.
What are the tasks of marketing management?
- Digital Marketing Manager: The Digital Marketing Manager sets goals and oversees the goals of planned digital campaigns. Often responsible for developing and implementing pay-per-click advertising strategies, social media advertising, and email marketing campaigns
- Product Marketing Manager: The Product Marketing Manager creates messaging that sets your product apart from others in the market and articulates your product's selling point (USP). He also helps plan and launch new products and writes detailed customer success stories to present to potential customers.
- Brand Marketing Manager: The Brand Marketing Manager works closely with the graphic designer to ensure the correct use of the company logo and brand guidelines. His daily duties may include monitoring social media trends and pitching stories to reporters with whom he has developed relationships.
- Content Marketing Manager: A content marketing manager's responsibilities typically include planning content campaigns, writing articles for the press, and working with bloggers to publicize products and services. Content marketers often create materials such as eBooks and blog posts with the goal of maximizing SEO opportunities and streamlining inbound marketing efforts.
- Social Media Marketing Manager: The Social Media Marketing Manager plans campaigns for different channels, creates content with photos and videos, and answers questions and comments from potential or existing customers.
Where can you take training in marketing management
What is the best marketing management software?
- Create and organize documents
- Monitor the progress of the project on a daily basis
- Integrate business intelligence tools like Tableau
- Review and approval of marketing materials and resources (certification and approval)
- Invitation to collaborate for external stakeholders and customers
- Wrike offers all of this and more.