Functions and Importance of Marketing Management

What is Marketing Management?

Marketing management is the process of developing strategies and planning for the business such as the advertisement, promotions, sales and etc. Marketing management is also an art and sciences. it helps in choosing the right target markets and audiences.

Functions of Marketing Management

Combination of Marketing and Management

Marketing management is a combination of management and marketing. Because marketing helps to acquire new customers and management helps to retain old customers in the business.

Business Process

Marketing management is a business process. Marketing management decisions are knowledge-based decisions. Because when the manager takes this decision it affects sales of the products directly. So, the manager needs logical terms to take decisions.

Managerial function

Marketing is the combination of activities designed to produce profit through ascertaining, creating, stimulating, and satisfying the needs of a selected market.

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What is Marketing?
Types of Marketing
Scope of Marketing