Marketing management is the organizational discipline that focuses on the practical application of marketing orientation, techniques and methods within companies and organizations and in the management of a company's marketing resources and activities. Marketing management employs the tools of economics and competitive strategy to analyze the context of the industry in which the company operates. These include Porter's five forces, strategic competitor group analysis, value chain analysis, and others. Depending on the industry, the regulatory context may also be important to examine in detail.
In competition analysis, vendors build detailed profiles of each competitor in the market, focusing on their relative competitive strengths and weaknesses through the SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of benefits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry developments, and other factors.
It draws heavily on the design of the organizations they offer in terms of the needs of target markets and the desires and use of effective pricing, communication and distribution to inform, motivate and serve the market. "Marketing management refers to the limelight of a definitive program, analysis and forecasting of market situations and the final implementation of these plans to achieve the objectives of the organization.
In addition, their sales plans to a greater extent rest on the requirements and motives of the consumers in the market. To achieve this goal, the organization has to pay attention to the appropriate prices, effective advertising and promotion of sales, distribution and stimulate consumers through the best services.
