Marketing Management: The Core of Business Operations
Marketing management stands at the core of business operations, focusing on the formulation, planning, and application of strategies that propel the pursuit of broader business goals. These objectives could encompass enhancing brand visibility, increasing profitability, or penetrating unexplored markets.
Insights from Marketing Gurus: Philip Kotler and Kevin Lane Keller
As we delve deeper into the realm of marketing management, it is crucial to consider the insights of marketing gurus, Philip Kotler and Kevin Lane Keller. They define marketing management in their book, ‘Marketing Management,’ as the ‘creation, design, and execution of marketing initiatives, methods, and activities that acknowledge the vastness and mutual dependencies of the business environment.’
The Importance of Understanding Customers
Managers must thoroughly comprehend their customers, their tastes, preferences, and needs. They must master the tactics and techniques that engage and charm them, while actively gauging success and refining internal operations.
The Role of Marketing Management in Business Success
Marketing management is pivotal for businesses as it guarantees effective customer engagement, appealing products, and targeted campaigns that multiply profits and fulfill business objectives. Without effective management, businesses are bound to encounter numerous obstacles.
International Marketing Management
Broadening our understanding to international marketing management, it covers marketing activities beyond national borders. This mandates the marketing manager to acquire an in-depth understanding of the customer base in every country where the product is marketed, including cultural subtleties and nation-specific demographics.
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