This document defines marketing management as the process of planning and executing product pricing, promotion, and distribution to satisfy customers and achieve organizational goals according to Philip Kotler, while Cundiff and Still define it as the branch of management concerned with directing activities toward marketing objectives. The objectives of marketing management are creating new customers, satisfying customer needs, enhancing profitability, determining the marketing mix, and raising living standards. The marketing mix consists of the controllable variables like product, price, place, and promotion that are blended to produce and satisfy target markets. Factors affecting the marketing mix include controllable elements like product planning and personal selling as well as uncontrollable factors like customer behavior, competition, and government regulations.
2. Defination
According to Philip Kotler:
“It is the process of planning and executing the conception,
pricing and promotion, distribution of goods and services
to satisfy customers and achieve organizational goals.”
According to Cundiff and Still:
It is a branch broad area of management which is concerned
with the direction of purposeful activities towards the
attainment of marketing goals.”
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3. Objectives
Creating new Customers.
Satisfying the needs of Customers.
Enhancing the profitability of the
business.
Determining the Marketing Mix.
Raising the standards of living people.
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5. Marketing-Mix
Marketing Mix is a set of controllable marketing
variables that the firm blends to produce and satisfy the
wants of targeted markets.
An effective market program always reflect elements of
marketing mix into designed to achieve the company’s
marketing objectives and goals by delievering value and
satisfaction to customer.
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6. 4 P’s of Marketing-Mix
o PRODUCT
o PRICE
o PLACE
o PROMOTION
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8. Factors affecting Marketing-Mix
Ω Uncontrollable Factors
• Consumer Buying Behaviour
• Competition
• Pattern of Distribution System
• Government Control
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