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Marketing Management Essay
The general increase in the world market competition and globalization has literally seen the merging of organizations and companies under the same industry or plying the same trade across the continents.
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It is therefore not strange to find uniformity in worldwide trends within the same industry, especially due to technological advancement.
This has also led to high level of concentration on companies’ Total Quality Management of their products or services in an attempt to maintain a competitive advantage against their business rivals.
This has therefore led to full embrace of marketing management to work hand-in-hand with the business management aspect.
Business management is the control and administration of personnel and procedures within an organization with overall focus being on productivity of targeted output against predicted or budgeted capacity.
Marketing management is the analysis, evaluation and implementation of effective sales and advertisement strategies within the business marketing functions all driven by external environment which mainly consists of consumers and regulators or government authorities.
Looking For Someone to Do My Essay It is worth noting that marketing management is focused on moving the sales volume.
How marketing management affects modern day business management
In order to stay relevant within the competitive market environment, businesses have to effectively merge the marketing management aspect with the business management function.
Traditionally, the two were isolated but with the appreciation of the ever-changing consumers’ needs companies have had to seriously focus on marketing management. Looking For Someone to Do My Essay
This is the only way business management can focus on customization of products or services to satisfy the constantly informed consumer base by frequent and aggressive advertisements by competitors.
Through marketing management extensive research and analysis is done that is aimed at breaking down the entire market segment into small divisions which the company can comprehend in a much better way, thus getting every bit of preference or particular needs of the smaller target groups.
In business management, analysis of the client can only be thorough through marketing management. Each market strategy effectively chooses a business operation strategy of division basing on; demography, physical location of consumers, business needs or consumer behavior among other preferred reasons for prevailing market circumstances. Looking For Someone to Do My Essay
This procedure can only be efficient if applied business management procedures fully take into consideration information that is available from marketing management endeavors.
How an organization can apply marketing management for positive results
Looking For Someone to Do My Essay An organization can utilize marketing management positively through its marketing department taking time to comprehensively evaluate and understand each individual organization’s abilities and capabilities in terms of manpower and material resources.
This is especially with regards to direct resources at the disposal of the marketing function to substantially compete with existing business rivals and those that are perceived or passive.
The passive or perceived rivals are those that do not directly compete in the same industry but can alter the decisions of players within an industry. It therefore, boils down to existing brands for the target market to be audited by the business management units so as to maintain specific brand equity.
Challenging traditional strategic thinking
Strategic thinking aims at looking for opportunities that are rare and building on them in order to maintain a profitable business development and expansion. Looking For Someone to Do My Essay This has to involve the creativity and proactive nature of all the employees and related people who participate in the daily operations of a company.
Excellent strategic thinking creates a competitive edge for a business in form of created and added value.
The current business and market environment is volatile and has a consumer base that is very knowledgeable in terms of their needs. This is further complicated by globalization and high level of communication through the recent technological advancement, especially the Internet.
This requires a company to employ effective thinking in order to achieve and surpass its targets in productivity or sales. A preferred strategic method should thoroughly employ SWOT analysis which entails scrutiny of its strengths, weaknesses, opportunities and threats within its scope of operation.
All these should be done while focus is on likeminded competitors so as to pick up current trends in the same industry of operation. Looking For Someone to Do My Essay
Current marketing management effectiveness and success is fully dependent on how flexible the organization can make its strategies to suit the versatile competitive market.
Traditional strategic thinking is based on sticking to a pre-determined and planned mode of operation whereby any alteration could not be made midway or once the process is started.
Reviews and analysis were by then considered only after a full cycle in order not to cause more confusion and also so that the extent of variances and their respective causes could be quantified confidently and more accurately.
Therefore, modern strategic thinking involves active change management which involves both pro active and reactive responses to possible changes within the business or market environment with regards to the current competition.
The ability for a firm to adapt to changes in the market environment at an equal pace determines the level of success with regard to prevailing competition within a certain market segment. This has a lot of say in long term viability of any business.
Competitive strategy as a learning process
Competitive strategy as a learning process is purely engraved in the ability of the organization to establish and adjust procedures and practices in such a way that there is knowledge development that is used for generating or sustaining competitive advantage.
Looking For Someone to Do My Essay The strategy is able to come up with an elaborate orientation of the market which is able to generate individual marketers’ entrepreneurial aspirations in realizing the organization’s objectives.
This is what determines the learning culture within an organization with regard to competition and moving the sales volumes. It is however the responsibility of the business management functions to support and encourage this learning atmosphere within the organization.
Every serious marketing function or department within an organization should work towards generating fresh knowledge to constantly improve on previous output.
