Key Aspects of Marketing Management

Marketing management is associated directly to customers’ needs and what they perceive as valuable.

It consists of many activities such as identifying customer needs and wants, the design and creation of the product, effective pricing of the offering, developing the best mode of communication to inform the targeted market and capturing value in return by building customer relationship.

Kotler and Keller have stated that marketing and management is ‘’ the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value" (Kotler and Keller, 2008: 5).

A Marketer, is an expert in managing the process of building the link between the actual need of a consumer and the act of creating a relationship with the customer. This is thanks to an accurate analysis of the market and the customer needs, wants and demands.

In a fast globalising world, with faster means of communication, marketing management has become a key function of any business aiming to be successful and profitable. Consumers are offered many products and services to choose from. That is why, brand experience, which is conceptualized as sensations, feelings, cognitions, and behavioural responses evoked by brand-related stimuli, has become important to keep the existing and recruiting new customers.

References

- Brakus, J.; Schmitt, B. H. and Zarantonello, L. (2009) ‘Brand Experience: What Is It? How Is It Measured? Does It Affect Loyalty?’ Journal of Marketing. American Marketing Association.

Available at: https://archive.ama.org/Archive/AboutAMA/Pages/AMA%20Publications/AMA%20Journals/Journal%20of%20Marketing/TOCs/SUM_2009.3/Brand_Experience_What_Is_It.aspx

(Assessed: 28 Oct 2016)

- Kotler, P. and Keller, K. (1956) ‘A framework for marketing management’ 4th edn. Indianapolis: Prentice Hall, 2008