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What is Marketing Management? A Complete Guide

06 August,2022  |  By Brainwonders

marketing management

What is Marketing Management?

Marketing Management is the process of controlling the essential marketing aspects, setting the organisation's goals, organising the plans, taking decisions of the firm and executing them to achieve both the customer's demand and organisational goals. A person who is a marketing manager must do a research study to have an idea of what marketing management is and how it can help your organisation. Marketing management entirely depends on product, price, promotion and place to attract customers. 

The company's management decides these 4Ps as per the customers' demand for what they want to buy, with suitable market prices and easy to find in stores or online. For the successful survival of the business, marketing management has to deal with the inflow of these elements. 

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Importance of Marketing Management

Build and Maintain the company's brand

A company is recognised for its brand as well as its reputation in the market. This will include selling, buying, exchanging, and transporting goods, which will help build the company's reputation. 

If a good reputation is established, it will benefit the company's growth development and promotion. When it comes to reputation, excellent and respected organisations make no compromises and make every effort. Companies with a high reputation have more opportunities to expand and receive more contracts, making them more market competent and economically powerful.

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Increase sales (revenue)

Effectively taking marketing management steps can create a competitive advantage in the market along with good sales. Marketing managers frame strategies in order to effectively advertise the product. Advertisements help to spread the product description to a great level, and thus it leads to brand identity, and if the targeted customers are satisfied with the product, it will certainly lead to brand loyalty. 

A chance/platform to launch new items along with its promotion

Marketing management assists in the promotion of fresh ideas that rely on the advantages and offers for the public to be swiftly seized. These concepts continue to nurture and diversify the firms by distinguishing them from the presence of other companies in the market. These suggestions will help the organisation understand the current market need and avoid taking the wrong route.

Source of advertising new products

New items released by a corporation that the general public is unfamiliar with must be marketed. Marketing management enables better and more successful product marketing, attracting many people to a new product. Marketing management informs the audience if they are selecting a decent product or not.

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Careers in Marketing Management

Digital Marketing Manager

Digital Marketing Managers are responsible for planning, developing, implementing and managing digital marketing campaigns across all digital networks. Their duties and responsibilities include market research, analysing metrics, planning campaigns, and looking after recent digital marketing trends to create brand awareness and positioning. 

Product Marketing Manager

Product Marketing Managers are the ones who are responsible for developing the stimulative marketing strategies and plans to communicate the vision, value and essential aspects of new products to customers. They are the ‘voice of the product’ at every organisation and coordinate with the technical and sales team.

Content Marketing Manager

Content Marketing Managers are responsible for developing captivating and engaging content that emphasises the organisation's product/service. They concentrate not just on creative material but also on SEO. Their tasks and responsibilities include effective content strategy design and implementation, managing online and offline material, and SEO optimisation.

Brand Marketing Manager

Brand Marketing Managers look after brand strategy and positioning. They focus on building the brands and ways to amplify the brand in the market. Their roles and responsibilities include examining competitors, market research, developing brand strategies, budgeting, etc. They work coordinately with the graphic designing team. 

Social Media Marketing Manager

Social Media Managers are often in charge of direct audience contact on social media platforms. As a long-term aim, they focus on developing social media content, optimising social media handles, and generating prospective leads.

Growth Marketing Manager

Growth Marketing Managers focus on getting the attention of the customers. They plan, design and execute marketing strategies to scale the target audience or potential customers. Paid Advertising, Paid Search, Email Marketing, and SEO are some of the responsibilities of the Growth Marketing Managers. 

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How to make a career in Marketing Management?

  1. Complete your 12th or High School Diploma

The additional criteria vary from business to business or even from institution to institution. However, one need for verification of high school graduation hasn't changed: a high school diploma.

Although the applicant may have no courses in marketing at all in high school, having strong English and maths test results is crucial. Additionally, you should have some solid English grades and the results of an English Proficiency Test on hand if you go out to study.

  1. Obtain a Bachelor's degree

Some students simply pursue their bachelor's degree and then pursue other skill-based courses, while others pursue an MBA and even an Executive MBA. However, students who have merely completed their bachelor's degree and wish to pursue a career in marketing management need to have a suitable bachelor's degree. 

All others must have a bachelor's degree in any discipline with a minimum stated cut-off of 50%.

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  1. Complete an internship in marketing

An internship in the Marketing area improves one's chances of being admitted to a good university for postgraduate studies. Internships foster networking, which is always beneficial in marketing since you learn about other cultures and practices before starting a career.

  1. Consider getting a postgraduate degree.

This is more needed, although obtaining a postgraduate degree in either MBA or MA continuously improves the job path. Students prefer MBA above any other postgraduate study and subsequently specialise in marketing.

Want to make a career in Marketing Management but are unsure about it? Visit Brainwonders, and get guidance from expert career counsellors. 

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