Marketing Management (Part - 1

National Institute of Business Management

Chennai - 020

EMBA/ MBA

Elective: Marketing Management (Part - 1)

Attend any 4 questions. Each question carries 25 marks

(Each answer should be of minimum 2 pages / of 300 words)

1. Marketing management is a business discipline focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities. Explain.

Management is the processes of planning, organizing directing motivating and coordinating and controlling of various activities of a firm. Marketing is the process of satisfying the needs and wants of the consumers. Management of marketing activities is Marketing Management. Management Guru Philip Kotler defines marketing as “Marketing Management is the analysis, planning, implementation anc control of programmes designed to bring about the desired exchanges with target audiences for the purpose of personal and mutual gain. It relies heavily on adoption and coordination of the product, price, promotion and place for achieving response”:

In other words, a business discipline, which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities, is Marketing Management. Marketing Management focuses upon the psychological and physical factors of Marketing. The Marketing managers are responsible for influencing the level, timing, and composition of customer demand accepted definition of the term.

While the psychological factors focus upon discovering the needs and wants of the consumer and the changing patterns of buying behavior, habit etc. the physical factors focus upon fulfilling those needs and demands buy better product design, channel of distribution and other functions. In summary, Marketing in action is marketing Management. Marketing Management has the responsibility of to perform many functions in the field of marketing such as planning, organizing,...