What is Marketing Management? Introduction, Importance, Scope and Function

28 January,2023  |  By Brainwonders

Introduction

Good marketing leadership is an essential component of success. Without a clear-cut strategy and plan, it can be not easy to execute initiatives properly and measure results. This is why industry research shows that those with documented strategies are four times more successful than their peers who lack one. As a professional marketer, having a well-thought-out approach to your work is key to achieving optimal outcomes. From determining objectives and goals to budgeting and scheduling resources, creating a detailed plan will go a long way in driving performance. By crafting a comprehensive marketing plan, you can ensure that your team is better equipped to handle the challenges ahead.

So, what is the role of marketing management in a wider business context? How can it help organisations plan for the future, understand their customers, improve internal processes, and create valuable products and services? Our marketing management guide has further information on all of this.

Top Careers Option after completing Marketing Mangement

Careers	Average Salary
Marketing Manager	₹25,000-70,000
Brand Manager	₹30,000-200,000
Advertising Manager	₹72,000-108,000
Market Research Analyst	₹25,000-70,000
Sales Manager	₹40,000-65,000
Public Relations Manager	₹40,000-70,000

What is marketing management?

Marketing management is crucial in helping organisations meet their business goals and succeed. Comprehensive market research, analysis, and strategic planning enable companies to gain insight into customer needs and understand the competitive landscape. It also helps businesses plan for the future by helping define objectives and develop effective strategies. Finally, marketing management ensures that the organisation has the resources and plans needed to create valuable products and services and optimise internal processes. Our marketing management guide is an invaluable resource for all professionals looking to expand and hone their knowledge of this critical discipline.

International marketing management

International marketing management is strategically planning, developing, and executing marketing campaigns to reach target markets in multiple countries. This involves researching international markets and understanding cultural nuances to develop effective marketing messages and materials that resonate with a global audience. It also involves assessing different channels - from traditional media to digital and social - to find the most powerful combination for reaching customers and creating successful conversions. By leveraging local insights, international marketing managers can create tailored campaigns for each geographic location, enabling them to maximise ROI and expand their business into new territory.

Why is marketing management important?

Organisations must have a well-planned marketing strategy to compete and succeed in today's ever-changing business landscape. Marketing management allows organisations to identify their target markets and develop campaigns tailored to reach them. It helps guide research and analysis into trends, products, customers, competitors, and market dynamics. By doing so, organisations can better design strategies that will give them an edge over the competition. 

Moreover, marketing management enables organisations to track their strategies' progress, allowing them to make necessary adjustments as needed. Furthermore, it helps organisations build relationships with their customers, thus increasing brand loyalty and driving revenue growth. For all of these reasons, it is clear that marketing management plays an important role in an organisation's success.

What are the different marketing management types?

Marketing management is a comprehensive process involving various methods, strategies, and processes that must be integrated to ensure success. A comprehensive marketing management strategy can raise awareness and generate returns for your brand. Such a strategy comprises several different marketing management types, including traditional, digital, content, and event-based marketing. Each type should be evaluated and implemented in order to maximise the effectiveness of the overall strategy. With careful planning and execution, a well-developed marketing management plan can significantly impact your brand's performance. Here are various types of marketing management. 

• Marketing strategy: Your organisation's plan for reaching prospects and converting them into customers
• Business development: Strategic initiatives such as mergers and acquisitions, business transformation, and entering new markets
• Brand management: This comes up with various techniques to increase the perceived value of a brand over time.
• Product development: The process of bringing a brand-new product to market.
• International marketing: Managing international distribution channels 
• Media Relations: Engages with the media and influencers to spread the word about your organisation.
• Customer marketing: Managing the customer experience to improve satisfaction and reduce churn
• Marketing operations: Managing marketing processes, technology, and data
• Sales: Generating leads, developing opportunities, and closing deals for the business

What are the processes of marketing management?

Managers can use these processes to optimise marketing efforts from all angles. Some common marketing management processes include: 

• Market and customer analysis: This marketing management process is about understanding your organisation's current market position and analysing consumer behaviour.
• Development of strategy, goals, and objectives: Where does a business want to go? How does it plan to get there? Aftermarket and customer analysis strategies will map the way forward.
• Product development: Marketing managers play a crucial role in product development. When articulating a product's benefits, these professionals help craft poignant, on-brand messaging.
• Marketing program implementation: Once promising programs and campaigns have been identified, it's time to deploy the right resources to launch them.
• Monitoring and control: Analysing the success of marketing programs and activities is a crucial process. It informs how future activities will be planned and implemented.

How is a marketing management strategy created?

Creating a successful marketing management strategy requires careful planning, research and attention to detail. It begins with an understanding of the organisation's needs, goals, and objectives. Developing a comprehensive marketing plan involves systematically evaluating the current market conditions, researching potential audiences and customer segments, assessing the effectiveness of competing strategies, and identifying unique opportunities for success. 

Once all of this data is collected, it should be organised into an actionable plan that includes a timeline for completion, a budget for resources, and a clear vision for growth. After the initial strategy document is created, managers must then meet with their teams regularly to ensure the plan remains on track and update the strategy when needed. The entire process requires collaboration between stakeholders, constant monitoring of target markets, and an ability to iteratively refine plans as new information emerges. With proper planning and management, organisations can develop successful marketing strategies that will drive meaningful growth.

How is a marketing strategy implemented?

Implementing an effective marketing strategy requires a holistic approach, focusing on the four Ps: product, price, promotion and placement. 

• The product involves making sure that the right products are available for consumers at the right time and place. 
• Price refers to setting the right price points to attract customers and maximise profit. 
• Promotion includes developing promotional materials and activities to get the word out about your product or service while also building loyalty. 
• Finally, placement includes selecting appropriate distribution channels and ensuring the availability of stock in the right places. By ensuring each of these elements is carefully considered and accurately implemented, a successful marketing strategy can be achieved.

Philosophies of marketing management

Many marketing management philosophies determine the direction, stance, and activities of marketing initiatives. These philosophies, commonly referred to as "marketing management concepts," have been developed over time, and they dictate how marketing efforts should be prioritised. 

• The production concept prioritises production efficiency; 
• The product concept focuses on the quality of the product(s); 
• The selling concept puts customer satisfaction first; 
• The marketing concept encourages profitability through customers satisfaction; and, 
• Finally, the societal concept prioritises looking at the societal impact of marketing activities. 

With these concepts in mind, marketing managers can create effective strategies and fine-tune their approaches, as well as monitor their successes by keeping track of unique key performance indicators related to each concept.

Features of marketing management

Marketing management is the practice of managing the planning, budgeting, executing, and analysis of marketing campaigns. 

• It involves understanding customer behaviour and preferences, identifying target markets, devising efficient strategies to reach them, leveraging available resources, monitoring results and adjusting tactics as needed. 
• It requires establishing a clear organisational vision and using it to guide decisions and develop goals. 
• It also necessitates building strong relationships with external stakeholders such as distributors, suppliers and customers. 
• Finally, it requires utilising technology to automate mundane tasks while still focusing on delivering superior customer service. 

By mastering these key elements of marketing management, businesses can increase their competitive advantage and better position themselves for long-term success.

What does a marketing manager do?

A Marketing Manager is a professional who is responsible for developing, managing and executing marketing strategies to increase an organisation's customer base and improve its brand reputation. 

A successful Marketing Manager is one who can develop innovative methods to market products and services and stay up to date with changing trends in the market. 

The daily duties of a Marketing Manager include managing projects, researching consumer behaviour, identifying new opportunities, creating advertising campaigns, analysing market data, coordinating promotional events, and preparing reports. 

They should also be able to develop relationships with suppliers and vendors to ensure quality products and services are provided to customers. Additionally, they need to evaluate customer feedback and use it as a platform for improvement. 

Overall, the role of a Marketing Manager involves maintaining the image of the organisation and keeping up with changing trends in the field of marketing.

What are the different types of marketing management roles?

In larger companies, marketing management roles can be vastly encompassing and involve comprehensive teams. Specialised marketing management positions are varied and consist of, but are not limited to, digital marketing managers and product marketing managers, both with distinct responsibilities. Here are five common specialised marketing management roles: 

• Digital Marketing Manager: A Digital Marketing Manager designs, implements, and oversees online advertising campaigns to further a company's services and products whilst fortifying its brand identity.
• Product Marketing Manager: Product Marketing Managers generate marketing plans that accurately illustrate the features and advantages of their company's offerings to potential clients, engaging in market research on product developments and functioning as the voice of their clientele within the organisation to guarantee products satiate customer needs.
• Brand Marketing Manager: Brand Marketing Managers guarantee consistent utilisation of branding messaging and visuals across the enterprise, formulating strategies for growing brand acknowledgement in the market.
• Content Marketing Manager: A Content Marketing Manager is responsible for creating and delivering engaging content highlighting a company's products or services for potential customers. This position requires strong written communication skills and the ability to analyse consumer data and track metrics. 
• Social Media Marketing Manager: A Social Media Marketing Manager is focused on optimising the company's social media presence and interactions across platforms such as Facebook, Twitter, and Instagram. They must have experience with digital marketing tools in order to craft effective campaigns. 
• Marketing Campaign Manager: The role of a Marketing Campaign Manager is to plan, develop, and execute marketing campaigns throughout their full life cycle. They will collaborate with other departments, such as sales, to measure performance and make necessary adjustments to ensure success.

What are some examples of marketing management tasks?

Every organisation has specific marketing management requirements, but each role's core tasks remain consistent. 

1. The Digital Marketing Manager is responsible for setting goals and tracking the success of digital campaigns such as pay-per-click advertising, social media marketing, and email campaigns. 
2. The Product Marketing Manager is tasked with determining how to make a product stand out from competitors and developing launch strategies for upcoming products. 
3. The Brand Marketing Manager keeps an eye on social media trends and builds relationships with journalists to ensure the company's brand is being portrayed correctly.
4. The role of the Content Marketing Manager is to develop strategic campaigns for promoting a product or service. This involves creating materials such as eBooks and blog posts, placing articles with news organisations, and collaborating with influencers to amplify information about the product. 
5. Social Media Marketing Managers are tasked with planning campaigns for different channels, producing content through photography or video and responding to customer inquiries. 
6. Additionally, Marketing Campaign Managers are responsible for orchestrating marketing campaigns, overseeing all campaign elements and providing reports on the results of these campaigns. 

In all cases, it is critical that clear and concise communication be used to ensure that all stakeholders have a full understanding of the objectives and progress being made.

Where can I get marketing management training?

Pursuing a degree, diploma, or certification in Marketing Management can provide individuals with the tools needed to excel in the field. Accredited universities and institutions offer comprehensive BA, MSc, and certificate programs that provide a solid foundation for success. Furthermore, those already working in marketing roles can acquire additional qualifications and gain experience that may help them transition into marketing management positions. With relevant education and experience, ambitious marketers can reach new heights within their organisations. There is no substitute for the knowledge and hands-on experience, though, as it will add another dimension to an individual's effectiveness. Ultimately, a career in marketing management may be one of the most rewarding paths for those who are passionate about exploring all the possibilities the field has to offer.

What is the best marketing management software?

When deciding on the best marketing management software for your organisation, it's critical to pinpoint the essential features for your team. A marketing manager likely needs software that enables them to:

• Create and organise documentation
• Track ongoing project progress each day
• Integrate with business intelligence tools like Tableau 
• Proof and approve marketing materials and assets
• Invite external stakeholders and clients to collaborate
• Wrike does all of this and more. 

How do I know if I am a suitable candidate for a marketing manager?

As a potential candidate for the role of marketing manager, it is important to evaluate your skills and qualifications to ensure that you are the best fit for the position. To determine if you are a suitable candidate for this role, consider the following criteria: 

• Knowledge: Do you have a working knowledge of marketing principles and strategies? Are you familiar with digital and social media marketing?
• Skills: Can you demonstrate strong organisational skills and the ability to multitask? Are you comfortable with data analysis, interpreting market trends, and developing plans to respond to those trends?
• Experience: Have you previously worked in marketing or a related field? Do you possess extensive knowledge of customer engagement and loyalty programs?

If you can answer "yes" to these questions, you may be a suitable candidate for the role of marketing manager. To apply, you must submit a resume and cover letter showcasing your qualifications. After that, the hiring manager should contact you for an in-person interview. 

Are you unsure whether a career in marketing management is right for you? Our Brainwonders team can assist your child in assessing their aptitude for this important role. Through a combination of specialised insight, experience, and research, we can help identify the skills and capabilities required to make a successful transition into marketing management. If your child is eager to pursue a career as a marketing manager, contact us today and see how we can help you achieve your dreams.

FAQs about Marketing Manager

Q.1 How long does it take someone to become a marketing manager?

Ans: Becoming a marketing manager typically takes time and dedication. Most successful marketing managers have earned at least a bachelor's degree in marketing or another related field, such as advertising, communications, public relations, business, or management. Additionally, many marketing managers gain experience through internships or entry-level positions in marketing before they are promoted to managerial roles.

The exact amount of time it takes to become a marketing manager varies depending on the individual's educational and work background.

Q.2 What is the difference between a marketing manager and Public relations manager?

Ans:

• A marketing manager is responsible for creating, implementing and measuring the success of an organisation's marketing strategy. This typically includes researching customer preferences and needs, ensuring product availability and quality, and overseeing advertising activities such as planning campaigns, developing promotional materials and tracking results.
• A public relations manager is responsible for managing the public image of an organisation. This includes developing and executing communication strategies that create a positive public perception of the organisation and responding to any negative publicity or rumours. A public relations manager may also be involved in crisis management, media relations, and community outreach.

Q.3 What are the skills required to become a marketing manager?

Ans:

1. a) Becoming a marketing manager requires thinking strategically and creatively while also possessing strong problem-solving skills. 
2. b) A successful marketing manager should be well-organised, detail-oriented, and have excellent communication and presentation skills. 
3. c) Having experience in both traditional and digital marketing will give a prospective candidate a competitive edge when vying for such positions. 
4. d) Additionally, data analytics and consumer research knowledge are paramount for becoming a successful marketing manager. 
5. e) Finally, being a team player is essential for success as a marketing manager since teams often consist of diverse partners from multiple departments and backgrounds.