vvickina

26.10.2021 23:14

Английский язык

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1. What is marketing management?
2. What is the Product Life Cycle and why it is considered one of the key
concepts in marketing?
3. What is the strategic phase in a marketing process?
4. What is the tactical phase a marketing process?
Текст
MARKETING MANAGEMENT
1. Management is a function of planning, organizing, coordinating, directing
and controlling. Any managerial system, at any managerial level is characterized in
terms of these general functions.
2. Management is a variety of specific activities. Marketing management refers
to a broad concept covering organization of production and sales of products, which
is based on consumer requirements research. All companies try to look beyond their
present situation and develop a longterm strategy to meet changing conditions in their
industry. Marketing management, therefore, consists of evaluating market
opportunities, selecting markets, developing market strategies, planning marketing
tactics and controlling marketing results.
3. Strategic planning includes defining the company‘s long-term objectives as
well as specific objectives, such as sales volume, market share, profitability and
innovation, and deciding on financial, material and other resources necessary to
achieve those objectives.
4. In problems of market selection and product planning one of the key
concepts is that of the Product Life Cycle. That products pass through various stages
between life and death (introduction – growth – maturity – decline), is hard to deny.
Equally accepted is the understanding that a company should have products mix with
representation in each of these stages. Companies can make far more effective
marketing decisions if they take time to find out where each of their products stands
in its life cycle.
5. As a managerial process, marketing is the way in which an organization
determines its best opportunities in the marketplace. The marketing process is divided
into a strategic and a tactical phase. The strategic phase has three components –
segmentation, targeting, and positioning (STP). Segmentation is determining different
groups of customers in the market. Targeting is choosing which groups of customers
can be served effectively. Positioning is placing the company or brand in relation to
competitors.
6. The marketing process includes designing and implementing various tactics,
commonly referred to as the "4 Ps" : product, price, place (or distribution), and
promotion.