MARKETING MANAGEMENT:
\n\u2022 Marketing management is the organizational discipline which focuses on the practical application of marketing on orientation, techniques and methods inside enterprises and organizations and on the management of a firm’s marketing resources and activities
\nMARKETING HAS TWO APPROACHES: TRADITIONAL & MODERN
\n\u2022 Traditionally, markets were viewed as a place for exchange of goods and services between sellers and buyers to the mutual benefit of both. Today, marketing is exchange of values between the seller and the buyer. Value implies worth related to the goods and services being exchanged. The buyer will be ready to pay for the goods if they have some value for him.
\n\u2022 In Modern Sense, marketing refers to a social process by which individual groups (consumers) obtain what they need and want, through creating offerings and freely exchanging goods and services.<\/p>\n\n\n\n
\u2022 Marketing is the business function that controls the level and composition of demand in the market. It deals with creating and maintaining demand for goods and services of the organization.<\/p>\n\n\n\n
\u2022 Marketing management is \u201cplanning, organising, controlling and implementing of marketing programmes, policies, strategies and tactics designed to create and satisfy the demand for the firms\u2019 product offerings or services as a means of generating an acceptable profit.\u201d<\/p>\n\n\n\n
MARKETING MANAGEMENT UTILITIES:
\n\u2022 Business marketing utilities are the elements needed for an exchange or purchase to take place between your company and your business customers. Utility refers to the value or benefit a customer receives from the exchange.
\n There are 4 types of utilities of marketing:<\/p>\n\n\n\n
Utility of Time:-
\n\u2022 By focusing on the utility of time, you can ensure that products and services are available when customers need them. Logistics plays an important role in improving the time utility. By developing an efficient supply chain, you can ensure that products are delivered on time.<\/p>\n\n\n\n
Utility of Possession:-
\n\u2022 The utility of possession gives your customers ownership of a product or service, enabling them to derive benefits in their own business. <\/p>\n\n\n\n
Utility of Place:-
\n\u2022 Utility of place refers to the availability of the goods and services at the location which is convenient to the targeted customers. This utility is important because you can ensure your customers that they will find the product at the place which is convenient for them to buy.<\/p>\n\n\n\n
Form Utility:-
\u2022 From utility will help you to customize your product or services according to the customer\u2019s needs.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Sakshalm Khanna BBA TIAS New Delhi<\/p>\n","protected":false},"excerpt":{"rendered":"
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