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MARKETING MANAGEMENT ? The analysis, planning, implementation, and control of programs designed to create, build, and maintain beneficial exchanges with target buyers for the purpose of achieving anizational objectives. ? Involves: ? Demand Management ? Demarketing Marketing to reduce demand temporarily or permanently – the aim is not to destroy demand, but only to reduce or shift it. ? Customer Relationship Management Marketing Management Process ? Situation Analysis ? Economic environment ? State of macroeconomy and changes in it also bring marketing opportunities and constraints ? Examples ? Factors of high inflation and unemployment levels ? Changes in technology Marketing Management Process ? Situation Analysis ? Social environment ? Includes general cultural and social traditions, norms and attitudes ? As values change, change brings the need for new products and services ? Public demand for a cleaner environment Marketing Management Process ? Situation Analysis ? Political environment ? Includes attitudes and reactions of the general public, social and business critics ? Legal environment ? Includes federal, state and local legislation directed at protecting both business petition and consumer rights. ? Deregulation Marketing Management Process ? Marketing planning ? Establishing objectives ? Provides the framework for the marketing plan ? Selecting the target market ? What do customers want? ? What must be done to satisfy these wants or needs? ? What is the size of the market? ? What is its growth profile? ? Developing the marketing mix ? Controllable variables: product, price, promotion and place (channels of distribution), must be managed to satisfy target market and achieve objectives Marke