Marketing management involves the strategic and planned creation and implementation of an organization’s marketing efforts. People who work in marketing management act as liaisons between a company and its target consumer.
Marketing management is important because it allows companies to create target marketing efforts and measure outcomes to gain new customers and retain loyal ones. Individuals in marketing management work closely with companies to align goals with marketing efforts and use metrics and other tools to adjust as needed.
What is marketing management?
Marketing management uses marketing tools, strategies, processes, and analyses as part of an organization’s strategic approach to developing and implementing marketing efforts.
The meaning of marketing management can vary based on an organization’s industry and marketing goals. As the name suggests, marketing management takes on managerial functions in marketing, which may entail oversight of marketing campaigns, outcomes, and planning and decision-making before, during, and after marketing plans are executed.
Importance of marketing management to a business
Marketing management is vital to a business’s ability to generate revenue, create a brand, and better understand its customer base. Marketing management works to ensure a company is profitable by gaining new customers, expanding a customer base, building a company’s reputation, and improving customer interactions. Some essential marketing functions of marketing management include managing, analyzing, and aligning with a company’s goals.
Marketing management aims to provide cohesion and direction for campaigns or other marketing efforts. It’s a data-driven, strategically planned system supervised by professionals working in marketing management.
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