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Why Do We Need To Study Marketing Management?

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Connor Sephton Profile
Connor Sephton answered
Studying marketing management is an important factor when trying to grasp the concept of business disciplines. Marketing management focuses on the practical application of marketing techniques as well as the management's marketing resources and activities.

Studying these practical applications, alongside work experience, can help give an individual some of the essential knowledge required for running a business. Marketing management is an important part of making sure that a business can run on a global scale. International marketing needs to be an essential part of a business' marketing strategy in order for them to keep up with the growing forces of globalization. A marketing manager will be responsible for influencing the timing, level and consumption of customer demand.

  • Marketing strategy
Marketing managers are requires to study their customer base and competitive position in the industry in order to make key strategic decisions and develop a marketing strategy. This marketing strategy should be designed to maximize the profits and revenues of the firm.

• Organizational management and leadership

Within marketing management, some time needs to be spent on the orientation of the business. A marketing orientation needs a consensus at senior executive level and then drives customer focus into the firm. A successful marketing manager can make the internal sale of marketing programs as much as the external customer reacts to it.

• Implementation planning

When the firm's strategic objectives have been decided alongside the target market being selected and the desired position of the company chosen, marketing managers need to focus on how to implement this strategy. Implementation planning needs to be considered across product management, pricing, place and people - the '4P's of marketing.

Studying marketing management and its subdivisions is an essential part of understanding how to make a business successful on a national, international and global scale.
Jyotsna Sonavane Profile

Marketing Management is the backbone of business..no business can develop with Marketing..since it is the pulse of business..

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