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About this document
- Pages
- 28 pages
- Price
- $28 one-time, yours to keep
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- Format
- Subject
- Business Management, Marketing
This document covers the basics of marketing, including definitions, concepts, and management guidelines. It also discusses the marketing budget and other related topics. It is useful for understanding the fundamentals of marketing management.
What's inside
- Definition of marketing
- Basic marketing concepts
- Basic marketing management guidelines
- Connection between marketing and sales management
- Steps in the marketing management process
Who it is for: For students studying marketing management. (Undergraduate)
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Summary
Marketing management covers the principles and processes of marketing. Students learn about marketing concepts, strategies and budgeting.
Marketing Defined
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Marketing management involves analysis, planning, implementation, and control of activities to meet personal and corporate goals.
Marketing and Sales Management
Marketing management and sales management are related but differ in purpose. Marketing focuses on the needs of the buyer. Sales focuses on the need of the seller.
Strategic Marketing Factors
Strategic marketing factors include internal and external marketing variables. These factors are related to the company's overall business activities in the marketplace.
Marketing Strategies
A company can choose from five basic marketing strategies. These include the new venture strategy, the growth strategy, the market development strategy, the market retention strategy, and the market penetration strategy.
Key terms
- Marketing
- The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services.
- Marketing Management
- The analysis, planning, implementation, and control of activities designed to develop and maintain a beneficial exchange of ideas, products, and services.
- Marketing Strategy
- A plan chosen to bring in customers and achieve marketing goals.
- Marketing Budget
- The money allocated for marketing activities and sales.
- Marketing Plan
- A document that outlines the marketing and sales strategy.
- Marketing Information And Research
- The process of gathering and collating marketing information and conducting appropriate market research.
Questions this document helps with
- What is the difference between marketing and sales management?
- How do strategic marketing factors affect a company's business activities?
- Which marketing strategy should a company choose for new products?
Summary written with AI from the document's text.
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