1.What is the role of Marketing Management in Organizations?
2.What is the role of the Marketing Manager? 3.What is Marketing Mix?
Successful businesses focus on getting the basics of marketing right.
THE ROLE OF MARKETING MANAGEMENT IN AN ORGANIZATION IS -- based on identifying, anticipating and satisfying customer needs effectively and profitably. It encompasses market research, pricing, promotion, distribution, customer care, your brand image and much more.
This also include
*Market research to determine consumer needs. [MR to determine needs]
*Prototype product development
*Product testing [MR to determine consumer taste]
*Product development
*Product planning
*Test Marketing [MR to determine the right marketing mix ]
*Development of Market Planning
*Sales Planning [MR to determine sales methods ]
*Distribution Planning [MR to determine the distribution needs]
*Advertising planning [MR to determine -theme,message,media etc]
*Sales Promotions Planning [MR to determine the success]
*Merchandising Planning [MR to determine the success]
*Retail marketing [MR to determine the retail impact]
*Marketing Research. [Consumer satisfaction]
The marketing research is applied at all stages of marketing to test / fine tune the marketing. This is highlighted in the above list. [In brackets]
ALSO THE RESPONSIBILITIES INCLUDE
*Review brand, its image and what it stands for
*Consider the consistent use of a strap line in your advertisements
*Launch a website and think about e-marketing and interactive website pages to add value
*Adopt the correct pricing strategy for your market sector, competitors, customers & profit
*Create a database of all your customers so that you can market to them again
*Know your customers - find out where they are spending their time and money
*Employ specialists for website creation or use external experts in the field
*Use external professionals for press releases
*Support anyone wanting to train in marketing
*Have a consistent brand message on all literature, websites, business cards & letter heads
*Create a mission statement
*Always plan properly, there are packages such as Microsoft Project which can help
*Use market research to understand your competitors, spot opportunities and lessen risks
*Use the database to market either by postal campaigns, e-mail or even mobile marketing
*Advertise in the correct places, and analyse and learn from each campaign
*Enlist professional designers for your literature, business cards and logos
THE ROLE OF A MARKETING MANAGER IN AN ORGANIZATION The Primary Objective is to -
Develop, direct and control the sales and marketing business strategies and activities of the organization to achieve revenues, sales and profit targets.
Specific accountabilities
Direct the activities of sales and marketing for the achievement of short and long term business objectives, increased profit, and market control. And co ordinate the sales and marketing objectives, policies and programmes within the context of the overall corporate plan and, where appropriate, recommend standards and set targets and quotas.
Prepare, or arrange for preparation of the budgets, reports and forecasts and ensure they are presented in a timely manner to the Chief Executive.
Appraise the activities of the staff according to overall sales and marketing strategies. Monitor and evaluate the performance, and the efficiency of staff and procedures.
Co ordinate subordinate staff to optimize the use of human and material resources to achieve goals. Consult with subordinate staff and review recommendations and reports.
Direct the preparation of operational matters including market research, advertising, promotion, distribution, pricing and selling.
Direct sales activities by setting product mix, geographical sales areas and customer service standards.
Control and monitor sales methods, key customer strategies and arrangements by recommending prices and credit arrangements.
Direct and control marketing by planning and running advertising campaigns and promotional activities, product management and market analysis and research.
Monitor customer service, invoicing, payments and administration costs.
Direct the development of initiatives such as new products, new marketing techniques, new advertising campaigns, incentive bonus schemes and the dropping of unprofitable products.
Maintain necessary contact with major suppliers, key customers, industry associations and government representatives to achieve the objectives of the division.
Select, or approve the selection and training of senior staff. Establish lines of control and delegate responsibilities to staff.
Ensure all the activities of the sales and marketing group comply with relevant Acts, legal demands and ethical standards.
MARKETING MIX
The Marketing Mix model (also known as the 4 P's) can be used by marketers as a tool to assist in implementing the marketing strategy. Marketing managers use this method to attempt to generate the optimal response in the target market by blending 4 (or 5, or 7) variables in an optimal way. It is important to understand that the Marketing Mix principles are controllable variables. The Marketing Mix can be adjusted on a frequent basis to meet the changing needs of the target group and the other dynamics of the marketing environment.
P 1 --- ProductHistorically, the thinking was: a good product will sell itself. However there are no bad products anymore in today's highly competitive markets. Plus there are many laws giving customers the right to send back products that he perceives as bad. Therefore the question on product has become: does the organization create what its intended customers want? Define the characteristics of your product or service that meets the needs of your customers.
Functionality; Quality; Appearance; Packaging; Brand; Service; Support; Warranty.
P 2 --- PriceHow much are the intended customers willing to pay? Here we decide on a pricing strategy - do not let it just happen! Even if you decide not to ask (enough) money for a product or service, you must realize that this is a conscious decision and forms part of the pricing strategy. Although competing on price is as old as mankind, the consumer is often still sensitive for price discounts and special offers. Price has also an irrational side: something that is expensive must be good. Permanently competing on price is for many companies not a very sensible approach.
List Price; Discounts; Financing; Leasing Options; Allowances.
P 3 --- Place Available at the right place, at the right time, in the right quantities? Some of the recent major changes in business have come about by changing Place. Think of the Internet and mobile telephones.
Locations; Logistics; Channel members; Channel Motivation; Market Coverage; Service Levels; Internet; Mobile.
P 4 --- Promotion (How) are the chosen target groups informed or educated about the organization and its products? This includes all the weapons in the marketing armory - advertising, selling, sales promotions, Direct Marketing, Public Relations, etc. While the other three P's have lost much of their meanings in today's markets, Promotion has become the most important P to focus on.
Advertising; Public Relations; Message; Direct Sales; Sales; Media; Budget.
The function of the Marketing Mix is to help develop a package (mix) that will not only satisfy the needs of the customers within the target markets, but simultaneously to maximize the performance of the organization. There have been many attempts to increase the number of P's from 4 to 5P's in the Marketing Mix model.
ON THE JOB - KEY RESPONSIBILITIES AND DUTIES OF MARKETING AND BRAND MANAGER
Marketing and brand managers set the strategic direction of their brand and work with many departments to make sure that the strategy is executed. As a marketing or brand manager below are some of your responsibilities:
Product development: Brand managers work extensively with research and development (R&D) to develop new products - the beloved babies of the brand. Managers must sift through extensive marketing data. Brand managers work with R&D and market research departments to determine what functional benefits a product offers. As a marketing or brand manager, you must always have a detailed knowledge of your products' ingredients, what your product is currently capable of performing, and what future developments can make your product even more desirable to your target consumer.
Marketers interpret data about every aspect of a prospective product - its color, texture, smell, and packaging - in order to make the product as appealing to consumers as possible. During product launches, brand managers meet often with R&D scientists to ensure the scientists are moving in the right direction. (Even at high-tech firms, product development is sometimes led by marketers. Usually known as product managers, these marketers find out what the customers want, and then give specifications to engineers on what to make.)
The extension: More common than the new product is the brand extension, which builds on pre-existing products: a new flavor of granola bar; a smaller-sized bottle of ketchup. Brand extensions serve two main functions. They can expand market share into a new market (Frosted Cheerios goes after those who want sweet cereal), and they can help invigorate a sluggish brand. The promise of something new splashed across packages and TV screens opens marketing avenues for the original brand. Then there are product changes. These can be small additions, can serve to revitalize a brand (purple horseshoes in your Lucky Charms), but can also involve a complete overhaul of a product. The latter change is a risky one: Even Mountains of market research can't prevent egregious misinterpretations of brand identity. While consumers may have preferred New Coke in a blind taste test, they shunned it when it arrived on the scene in 1985 - and Coke was forced into an embarrassing withdrawal of the newfangled drink just a year before its 100th anniversary.
Strategy development: Once you understand how your product works and to whom it appeals, you (and your brand management team) must develop a communications strategy that conveys the benefits to appropriate consumers. This requires working extensively with market research to understand your consumer needs and how your product can deliver on them. Once you have created the strategy, you will need to work with your ad agency and PR firm to help communicate this plan.
Package design: It is crucial that the packaging on your product reflects the product strategy you have developed. The packaging must be simple to read, but also stand out amongst the competition on the shelf. What color should the packaging be? Should it be bilingual? Will the package withstand wear and tear? Is the size and location of the handle convenient? Not only is package design concerned with function, but aesthetics can be ultra-important as well, and can be a strong part of a brand's identity (Coke's contour bottle and the Hershey's aluminum wrapper with inserted paper strip are classic examples of packages that have become synonymous with the product). A particularly appealing package design can often drive product sales. The process of package design is identical to that followed during product launches: research and more research, meetings with R&D scientists, and test trials.
Market research: As a marketing manager, you must understand what consumer studies and tracking devices can be used to glean the most information about your product. Whether you conduct focus groups to test the latest product concept, track trial and satisfaction rates for your latest launch, measure market share in a certain market, or assess competitive activity, understanding and executing market research will be a huge part of your job.
Sales Force management: Because you know your product's functional and emotional attributes better than anyone else does, it makes sense that you should be the one to educate the sales force. Attending meetings to explain what your sales goals are, and helping to design promotions that will motivate your sales force to hit the pavement are also part of the job.
Business forecasts: Brand managers determine how much of a product you will sell over a certain time period. By doing extensive research on the state of the market, the intensity of competition and how seasonality affects product sales, you will be able to effectively predict market share and profitability.
Financial analysis: Chances are that as a brand manager, you will be given profit and loss responsibility. You will have to create a budget with your team and get it approved by senior management. From this budget, you will determine just how extensive your communications campaign and product development pipeline can be.
Promotions: So, you want to encourage kids to eat twice as much Lucky Charms? Or, you want to get more people to buy bottles of Sprite, not cans. Promotions may be the best way to accomplish your goal. For example, you may want to have a coupon made or have a direct mail piece sent to individual consumers' homes. As a brand or marketing manager, you will work with your PR agency and your promotions department to develop a strategy and execute such an event.
Advertising: Whether it's print, TV, radio, Internet, or outdoor advertising, the marketers work with advertisers to create a strategy, execute a commercial, and put it on the air. Advertising may be done in-house or through an outside agency.
Media: You have an advertising strategy and $15 million to spend on it. What media vehicles do you use and what are your communication goals? You'll work with the internal media department as well as the media planning and buying departments at the ad agency to make sure that you develop a media plan that reaches exactly who you want to reach.
Pricing: If we decide to take a 5 percent price cut on Lysol disinfectant spray to celebrate the spring cleaning season, how will that affect our overall sales and profitability? You have a crucial role in determining the price sensitivity of your consumer target and what price point reinforces your brand's positioning in relation to the competition.
Manufacturing: How many boxes of Pampers can you get out the door in a month? How many cases need to be shipped to what parts of the country? If you wanted to switch to a new plastic bottle, how long would that take manufacturing to implement? As a brand manager, you will handle lots of operational questions like these.
