Companies need to pay attention to the management .When a company goes to do that, they need to managing the four marketing management functions; analysis, planning, implementation & control.
Companies first developed a wide strategic plan then translates them into marketing ; also take other plan for each division ,products & brands. Through implementation , companies take the action & through control,companies measure & evaluate the results of marketing activities; also take corrective action.Marketing analysis also helps providing necessary information.
Market Analysis:
Marketing analysis begins with a complete analyze of overall company's situation. For this, marketer needs to analysis SWOT. Through this , company analysis its strength, weakness, opportunities,& threats. Here ,strength define all internal capabilities, resources & positive situational factors that a company have to serve the customers & achieve its objectives.
Weakness define all internal limitations & negatives situation that interrupt a company' s performance.
Opportunities are external favorable factors that helps the company to use its advantage.
Threats are the unfavourable external factors that may create challenges to performance.
Companies analyze the marketing environment to find out segments attractiveness & identify threats. It also analyze strength & weakness for determine which opportunities it can best pursue; also try to eliminate weakness & minimizing threats.
Market analysis provides necessary information to the management functions.
Marketing Planning:
Marketing planning is actually developed a strategic plans that helps to do each business unit what it wants. Also helps company to attain its objectives. Marketing plans consists of specific strategies for target markets ,positioning ,marketing mix & expenditure levels. Define how companies create value for target customers & capute value in return. Planners also plan how companies responds to the threats ,opportunities & critical issues.
Marketing Implementation:
It is a implementation process where turning strategies & plans into actions to accomplish strategic marketing objectives.
It addresses the who ,where ,when & how ; whereas planning addeesses the what & why of marketing activities.
Marketing Control:
After implementing the plan, sometimes companies needs to take corrective actions.Then control hepls to do that through measuring & evacuating the results of marketing strategies & plans ; also helps to take corrective action to ensure ghat the objectives are achieved.
Control ensures that the company achieves its goals making sales & profit
Companies first developed a wide strategic plan then translates them into marketing ; also take other plan for each division ,products & brands. Through implementation , companies take the action & through control,companies measure & evaluate the results of marketing activities; also take corrective action.Marketing analysis also helps providing necessary information.
Market Analysis:
Marketing analysis begins with a complete analyze of overall company's situation. For this, marketer needs to analysis SWOT. Through this , company analysis its strength, weakness, opportunities,& threats. Here ,strength define all internal capabilities, resources & positive situational factors that a company have to serve the customers & achieve its objectives.
Weakness define all internal limitations & negatives situation that interrupt a company' s performance.
Opportunities are external favorable factors that helps the company to use its advantage.
Threats are the unfavourable external factors that may create challenges to performance.
Companies analyze the marketing environment to find out segments attractiveness & identify threats. It also analyze strength & weakness for determine which opportunities it can best pursue; also try to eliminate weakness & minimizing threats.
Market analysis provides necessary information to the management functions.
Marketing Planning:
Marketing planning is actually developed a strategic plans that helps to do each business unit what it wants. Also helps company to attain its objectives. Marketing plans consists of specific strategies for target markets ,positioning ,marketing mix & expenditure levels. Define how companies create value for target customers & capute value in return. Planners also plan how companies responds to the threats ,opportunities & critical issues.
Marketing Implementation:
It is a implementation process where turning strategies & plans into actions to accomplish strategic marketing objectives.
It addresses the who ,where ,when & how ; whereas planning addeesses the what & why of marketing activities.
Marketing Control:
After implementing the plan, sometimes companies needs to take corrective actions.Then control hepls to do that through measuring & evacuating the results of marketing strategies & plans ; also helps to take corrective action to ensure ghat the objectives are achieved.
Control ensures that the company achieves its goals making sales & profit
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