Maharishi School of Business Management

Department of Commerce

Programme: B. Com Semester: III

Course Name: Marketing Management Course Code:
Session: 2024-25 Unit: -1

1. Introduction to Marketing Management

Marketing management is a crucial discipline that guides the marketing activities of an
organization by planning, analysis, implementation, and control. It is the art and
science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value.
2. Definitions of Marketing Management
Several prominent figures in the field of marketing have defined marketing
management. Here are few:
1. Philip Kotler - "Marketing management is the art and science of choosing
target markets and getting, keeping, and growing customers through creating,
delivering, and communicating superior customer value".
2. Peter Drucker - "Marketing management is looking at the business from the
customer's point of view".
3. American Marketing Association (AMA) - "Marketing management is the
process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods, and services to create exchanges that satisfy
individual and organizational goals".
What is Marketing?
Marketing is the process by which companies create value for customers and build
strong customer relationships in order to capture value from customers in return. It
involves understanding the marketplace, customer needs and wants, designing a
customer-driven marketing strategy, constructing an integrated marketing program,
building profitable relationships and creating customer delight, and capturing value
from customers to create profits and customer equity.
Nature of Marketing:

In popular conception, marketing, the term is used interchangeably with promotion.

However, marketing is a lot more than just endorsing your product or services. The
nature of marketing defines the various purposes it serves in a lifetime. It includes the
following elements –
1. It is a Process of Communication
Marketing is the process of communicating with consumers and stakeholders with the
objective of earning profit, maintaining customer relationships, and managing
stakeholder expectations. It also directs the flow of services and products to the end-
user.
2. Marketing is a Managerial Function
The particular marketing approach of an organisation is influenced by the management
policy. It is the management policy that dictates the kind of marketing campaigns to
run and sets its tonality.
3. Marketing is a Social Process
Marketing to the end consumer plays a crucial social role. Through different marketing
channels, the consumer is introduced to a standard of living. To create an optimised
marketing strategy, you must have a thorough idea about the consumer’s changing
needs and expenditure patterns.
4. Marketing is a Philosophy
It is the key guiding principle that defines the commercial operations of a company or
organisation. As a policy, marketing requires you to establish certain ground rules on
the kind of messaging and the overall ideology of a brand.
You must ask yourself questions like – what kind of experience do I want to deliver
with my product or service? Whose aspirations am I serving? How my business will
ease the pain points of my consumer? And what kind of role will my product/service
play in the life of the consumers?
5. Marketing is a Legal Process
In its essence, marketing is an elaborate legal process through which the ownership of
a product is transferred to the consumer. It is the way an enterprise discovers and
identifies the needs of the market and transforms them into marketable products and
services.
6. It is an Economic Function
Marketing, at its roots, is an economical function. Through different marketing
strategies, the consumer is encouraged to take economic action. This action is
transactional in nature and underpins the availing or procuring a product/service in
exchange for money.
7. Objectives: Consumer Satisfaction & Profit Making
After all, marketing is an objective-driven action that requires a methodical approach.
The ultimate goal of marketing is to satisfy consumer needs and expectations and by
this means generate profit for an organisation.

Scopes of Marketing:
The scope of marketing involves both science and an art that needs a dynamic
approach to solve real-world problems and crises in society. In modern business, the
marketing department uses key strategies to guide a product from conceptualisation,
development, and execution to promotion and distribution.
1. Study of Consumer Behaviour
The first and foremost role of marketing professionals is to be familiar with the
expectations and expenditure patterns of the consumer in general. A thorough
understanding of what they like to purchase? When do they do that? How much
expense they are prepared to make for a novel item, what is their usual budget for the
category of your product and so on.
It helps to determine the time and approach for your product launches. It lies in the
nature of marketing management to gauge your consumer behaviour and strategize
accordingly.
2. Identify Their Wants and Requirements
To ensure a streamlined product launch and satisfy the user demand, marketers first
need to identify the pain points of the audience. A strategic approach to marketing
requires a complete understanding of the consumer lifestyle. Only this allows you to
place a product or service that amplifies or complements their life.
3. Planning & Product Development
In this phase, the idea of the product is conceptualised. With the ideation of the
product, it lies in the scope of marketing channels to determine the correct branding
strategy that addresses consumer demands and desires.
4. Pricing and Policy Determination
Marketing professionals may leverage various factors in the product development
cycle to identify the correct pricing. It takes into consideration existing competition in
the market and the expenditure pattern of the target audience. The strategy should help
marketers determine attractive packaging and prices that encourage buyers.
5. Distribution
Identifying the proper distribution channel for the product is vital to optimise your
ROI. To ensure the desired amount of sales, the distribution line must ensure wider
target group outreach at the minimum cost.

6. Promotion
In this step, marketers can use a mix of online and offline marketing channels to
promote the product or service. Based on the type of product/service, and its target
group – a particular marketing channel might be more suitable than others.
7. Consumer Satisfaction
Every product or service is created and distributed in the market with the end goal of
satisfying the user’s demand or making their life easier. Therefore, after market
distribution, it is essential to get feedback from the clients on how the product is being
received. Depending on the kind of response, a future iteration of the same product or
service can be improved to target the maximum number of potential customers.
8. Marketing Control
It befalls the marketing department to ensure that the strategies implemented are able
to produce the desired amount of results. After the product distribution and launch,
marketers perform an in-depth audit to determine the utility of the approach and
optimise it accordingly.

Essential Purpose of Marketing:

The modern role of marketing goes way beyond the simple promotions of a product
and/or service. It is an influential tool that helps in establishing and fostering long-
term relationships with clients and the entire target group at large.
In this way, the purpose of marketing operations can be categorised into the following
–
1. Recognising the needs and expectations of the consumer
Understanding the pulse of the market lies at the core of your marketing operations. It
includes identifying the pain points of the consumer and coming up with innovative
solutions that address the problems of the consumer.
2. Develop products and services that contribute value to the end-user
The second phase of the marketing operation requires you to translate raw data and
subjective preferences into quantifiable user-oriented products and services. The
primary goal in this phase is to conceptualise a product that users can instantly identify
with and are encouraged to interact with it.
3. Effectively communicate with the audience to increase profitability
Now this is the final and most vital purpose of a marketing operation – the promotion.
Once the product or service is ideated, it requires an elaborate marketing plan to create
awareness among the target group. It may be through targeted ads, local SEO, or social
media marketing campaigns – marketers need to choose the ideal tool that may
provide streamlined results against the campaign.
For example, if you are selling comic book merchandise that targets teens and young
adults – social media and influencer marketing may be the more ROI-driven choice
out there.
What is the Key Importance of Marketing?
Marketing is directed at consumer satisfaction. In its natural form, marketing
operations fulfil the needs of the market to help an enterprise earn profits and boost its
sales. Here is a thorough breakdown of the various significance of marketing:
1. Creates Awareness
The scope of marketing enables an enterprise to run campaigns that generate
awareness in the market about a product or a service. This is also the preliminary step
of marketing and helps lay the groundwork during product launch.
2. Guides Buyer’s Journey
Marketing campaigns allow an enterprise or organisation to guide the consumer –
offering knowledge and the relevant guidance that ultimately leads to purchase.
Let us take 3D printers as an example. When a company sells 3D printers, it may
produce customised web blogs, articles and videos that educate and inform people.
Different genres of web based content work as marketing tools that illustrate the
benefits of 3D printers and create the necessary knowledge crucial to operate one.
3. Builds Brand Identity
One of the crucial ways that marketing helps a business is by building a unique
identity. It takes creativity of thought and expression to crack an exclusive message
that works for your company.
So, it falls upon the marketing department to conjure up a distinctive message that
fosters better communication between the company and the target audience. And
thereby establishing a brand identity that creates a unique position among the
competition.
4. Boosts Sales
By adopting a robust marketing channel, businesses can adopt a continuous messaging
model. It may include targeted advertisements or Search Engine Marketing (SEM) to
get maximum visibility to the target group of audience. And thereby increase the sales
of your products.
5. Helps Scale Up the Business
Marketing is a powerful tool for when you want to take your business to the next level.
Whether you are targeting a new demographic of audience or trying to offer a variety
of services – let your existing reputation guide your new journey.
It reduces the obstacles of capturing a new market or penetrating a segment different
from your core products and services. Thus, utilising marketing tools effectively can
help you avert multiple roadblocks to a flourishing business.

Different Types of Marketing:

In this digital age, marketing has gone through a severe transition to introduce several
new strategies. This helps target consumers in different phases of their buying journey
along the marketing funnel. Some of the prevalent marketing methods include –
1. Content Marketing
Content marketing is a crucial tool in the scope of marketing. It helps an enterprise
target consumer across the spectrum by promoting useful content in search engines.
Mostly such content would contain thorough information about a product or service
and help middle of the funnel users to make an informed decision.
By the way, we, at Das Writing Services, are the content marketing specialists. Get in
touch to know more!
2. Digital Marketing
This is an umbrella term referring to a wide set of tools and strategies used to promote
a business. Digital marketing includes PPC (pay-per-click), targeted ads, sponsored
links and a variety of other methods to connect with the audience and influence their
buying patterns.
3. Search Engine Marketing
It is a part of digital marketing whereby search engines like Google, Bing, and Yahoo
are leveraged to endorse a business. Marketers strive to target intent specific keywords
with Search Engine Optimised (SEO) content that ranks high on the SERP and draws
an increased amount of traffic to the website.
4. Social Media Marketing
Social media marketing is among the popular methods leveraging different social
media channels like Facebook, Instagram, Snapchat, TikTok and X (formerly Twitter)
to recommend a product or service. It may include sponsored posts, videos or micro
content like Reels to create awareness about a product and draw relevant audience to
the website.
5. Email Marketing
We can further categorise email marketing into two sections – cold emails and email
newsletters. While newsletters are a prevalent practice to grow enthusiasm and
awareness among the dormant audience, cold email can be good to draw relevant
traffic to your website. Needless to say, newsletter audiences are more likely to
convert than cold email recipients.
6. Influencer Marketing
Influencer marketing is a new age marketing strategy where brands use social media
influencers and their established audience base to reach a potential target group. It
mainly relies on the influencer’s audience and brand image to create a reputation for a
new product. It is mainly useful for new products or brands to create a niche audience
base and kick-start their marketing campaign.
7. Affiliate Marketing
Affiliate marketing is a great way to draw traffic from around the internet. This is also
a potent tool for SEO as affiliate marketing helps to get backlinks from relevant
websites with higher domain authority and helps send trust signals to your site.
 What are the 4P’s of Marketing?
As discussed already beforehand, marketing is not only about promoting a new
product or service. By establishing communication between consumers and
enterprises, marketing plays a crucial social role in bridging the gap between
businesses and the market. The 4 principles of marketing define its crucial role –
 Product: the actual commodity. It considers the usage of the product and how it
may affect the pain points of the audience.
 Price: How much will the company charge for the offering? It determines the
target group of the product.
 Place: It identifies where the product will be sold. In a physical store or online
store.
 Promotion: Finally, here the approach for promoting the product is determined
by the company.
The scope of marketing a product depends on these four pillars that go on to identify
the correct approach.
What is the Difference Between Marketing and Advertising?
Although in layman’s terms, marketing and advertising these two terms are
interchangeable, they are naturally separate and serve quite different but associated
functions. Let us have a look at how marketing is different from advertising:

Topic Marketing Advertising

Identifies customer needs and It involves continuous communication through

Approach determines the strategy to meet
the needs. channels to promote a product or service.

Strengthening customer
Focus Encouraging users to complete a transaction.
relationships.

It is long-lasting and can promote The duration is shorter and usually

Scope
a brand as a whole. promotes a single product or service.
Understanding Needs, Wants and Demands in Marketing world
Needs, wants and demands are 3 important terms in marketing. No matter how similar
they might seem, there are more differences in these terms that you might think. There
are many layers within them and they play a vital role in arriving at segmenting the
TG, targeting a particular target group and most importantly defining a sharp
positioning for a brand.
Needs
“Needs” is the basic human requirements like shelter, clothes, food, water, etc. which
are essential for human beings to survive. If we extend this further, other needs are
education, healthcare or even a social thing, for example, belonging to a certain
society or self-expression. One can say that the products which fall under the needs
category of products do not require a push. Instead the customer buys it themselves.
But it’s actually not true. in today’s world with thousands of brands competing in the
same categories with identical offerings satisfying the same needs, even the “needs
category product” has to be pushed in the consumers’ mind. Example
of needs category products / sectors – Agriculture sector, Real Estate, Healthcare etc.
We all know about Maslow’s hierarchy of needs which categorizes needs into 5 levels
starting from physiological needs at the bottom and going up to self-actualization
needs. But what’s important as a marketer to know which level of need is your brand
targeted to. Let’s look at some of the examples of brands which are targeting different
levels of needs
1. Physiological Needs – Food companies (Nestle, Pepsi, Coca Cola)
2. Safety Needs – Insurance companies (ICICI Prudential, Tata AIG, HDFC Life)
3. Social Needs – Social networking sites (Facebook, Twitter, Instagram)
4. Esteem Needs – Luxury brands (iPhone, Mercedes, Estee Lauder)
5. Self-actualization needs – Non-Profit organizations and NGOs (UNICEF, Teach
for India)
In marketing, there is another way to categorize needs. There are basically five types
of consumers’ needs:
1. Stated Needs – As the name suggests, in this case, the consumer explicitly states
what he wants. For eg. “I need a phone”.
2. Real needs – This is more specific. So when the consumer wants a phone to
remain connected to his friends, family and colleagues, the actual need be a phone
with high battery backup and not high camera resolution.
3. Unstated needs – The consumer also expects warranty and other sorts of after
sales service when buying a phone which he might not say explicitly.
4. Delight needs – The consumer would like the phone manufacturer or the dealer
to give him some free gift or a promotional item (phone case, tempered glass, free SIM
etc.), but he doesn’t clearly express that he wants something with the phone.
5. Secret Needs – These are the needs which the consumer feels reluctant to admit;
for example the consumer wants the phone for his status symbol but he feels
uncomfortable to admit that status is important to him.
In the above example, responding to only stated need ie., “I need a phone” doesn’t
help in arriving at a right product proposition. As a marketer, it is important to dig
deeper and uncover not only the real, but also his other needs: unstated need, delight
need and secret needs.
Wants
"Wants" are a step ahead of needs Wants aren’t essential for humans to survive, but it’s
associated with needsSimply put, A want is a product desired by a customer that
is not required for us to survive. So, want is the complete opposite of need, which is
essential for our survival. Wants aren’t permanent and it regularly changes. As time
passes, people and location change, wants change accordingly.
Wants are directed by our surrounding towards reaching certain needs. Therefore,
human’s wants can be varied depending on each individual’s perception, environment,
culture, and society. For example, an Indian needs food but he may want a Dosa or
Paratha while an American may want Burger or Sandwich. Example of wants category
products / sectors – Hospitality industry, Electronics, FMCG, Consumer Durables etc.

Demands
Wants turn to be Demands when a customer is willing and having the ability to buy
that needs or wants. The basic difference between wants and demands is desire. A
customer may desire something but he may not be able to fulfil his desire.
Consequently, for people, who can afford a desirable product are transforming their
wants into demands. In other words, if a customer is willing and able to buy a need or
a want, it means that they have a demand for that need or a want. You might want
a BMW for a car or an iPhone for a phone. But can you actually buy a BMW or an
Iphone? You can, provided you have the ability to buy them. Example of demands –
Luxury cars, 5 star hotels etc.
Many people want a BMW, but only a few can buy one. So, it’s very crucial that one
must measure not only how many people want their product, but also how many are
willing and have the ability to buy it.
So, its not only important to discover different consumer needs, but also to figure out
what consumer actually wants and how much is he able to pay ie. how much demand
can be created for the product or service.
Lastly, let’s try to answer “Can marketing create a need?”. I believe that marketers do
not create needs. They might promote some specific products or services, and make
people want those products or services for their needs. For example, Marketers might
promote the idea that an insurance can satisfy a person’s need for safety; they do not
create the need for safety.

SELLING VS MARKETING:
In every business today, we often come across the concept of marketing and selling, a
number of times. The concept of marketing focuses firstly on the customer’s
requirements, and then the means to fulfil that need is identified.
In marketing, the customer creates market demand. On the other hand, the concept of
selling emphasises only the requirements of the seller; therefore, in this process, the
seller rules the market.
Though the terms marketing and selling sound familiar, however, there is a fine line
that differentiates between these two concepts, which includes activities, process,
outlook, and management etc.
In simple words, selling transforms the goods into money, but marketing is the method
of serving and satisfying customer needs.
The marketing process includes the planning of a product’s and service’s
price, promotion and distribution. This article will help you understand all the
important points that distinguish the two words.
What is Selling?

The selling theory believes that if companies and customers are dropped and detached,
then the customers are not going to purchase enough commodities produced by the
enterprise.
The notion can be employed argumentatively, in the case of commodities that are not
solicited, i.e. the commodities which the consumer doesn’t think of buying and when
the enterprise is functioning at more than 100% capacity, the company intends at
selling what they manufacture, but not what the market .

Selling Marketing

Definition

The selling theory believes that if companies The marketing theory is a business
and customers are dropped detached, then plan, which affirms that the
the customers are not going to purchase enterprise’s profit lies in growing
enough commodities produced by the more efficient than the opponents, in
enterprise. The notion can be employed manufacturing, producing and
argumentatively, in the case of commodities imparting exceptional consumer value
that are not solicited. to the target marketplace.

Related to

Constraining customer’s perception of Leading commodities and services

commodities and services. towards the consumer’s perception.

Beginning point

Factory Marketplace

Concentrates on

Product Consumer needs

Perspective
 Inside out Outside in

Business Planning

Short term Long term

Orientation

Volume Profit

Cost Price

Cost of Production Market ascertained

requires.
In the sales process, a salesperson sells whatever products the production department
has produced. The sales method is aggressive, and customer’s genuine needs and
satisfaction is taken for granted.

What is Marketing?

The marketing theory is a business plan, which affirms that the enterprise’s profit lies
in growing more efficient than the opponents, in manufacturing, producing and
imparting exceptional consumer value to the target marketplace.
Marketing is a comprehensive and important activity of a company. The task generally
comprises recognising consumer needs, meeting that need and ends in customer’s
feedback.
In between, activities such as production, packaging, pricing, promotion, distribution
and then the selling will take place. Consumer needs are of high priority and act as a
driving force behind all these actions. Their main focus is a long run of business
ending up with profits.
It depends upon 4 elements, i.e. integrated marketing, target market, profitability
customer and needs. The idea starts with the particular market, emphasises consumer
requirements, regulates activities that impact consumers and draws gain by serving
consumers.
5 Different Types of Selling
The five top types of selling are:
Aggressive Selling- In this type, the only intention of a salesperson is to sell the
product in one shot.
Consultative Selling-This type of selling believes in building trust with their
customers. A sales representative’s main object is not selling the product but building a
relationship with their client.
Need Oriented Selling-Here, a seller has to perform a smart job by observing the
movements and words of a customer. Under this form, a sales representative notices
the customer accurately by asking different questions and assessing the customer
needs.
Product-Oriented Selling-This method of selling is based on product features and
benefits; the salesperson explains everything about the product until the customer is
completely satisfied. Providing demos are part of this selling process.
Competition Oriented Selling-Under this form, the sales representative believes in
staying one step ahead of the competition. They believe in convincing the customers to
purchase the product and never accept a no for an answer.
5 Different Types of Marketing
The five top types of marketing are:
Relationship Marketing-This kind of marketing focuses on building a relationship
with the customer, improving existing relationships, and enhancing customer loyalty.
Word of Mouth-It is the most powerful type of marketing approach. It completely
depends on what impact you leave on the customers with the quality of product and
services.
The customers who have opted for the service or bought a product will promote it on
behalf of the company to their friends, colleagues, and neighbours, etc., only if they
are satisfied. If they are not impressed, then that can result in negative publicity.
Digital Marketing-It normally appears over the internet. All the marketing details are
given on the internet and promoted on multiple platforms via various approaches.
Paid Advertising-It incorporates traditional marketing approaches like TV ads, radio,
and print media advertising.
Cause Marketing-This approach associates the products and services of a firm to a
social cause or issue. Therefore, It is known as cause-related marketing.
Examples of Selling
A few examples of selling are:
 Business-to-Business Sales
 Door-to-Door Sales
 Cold Calling
 Personal selling
Examples of Marketing
A few examples of marketing are:
 Cold Calling
 Newsletters
 Search Engine Marketing
 Meeting customers at Trade shows
 Product placement in Entertainment platforms (video games)
4 Reasons Why Selling is Important
In any organisation, selling is important as it has the capacity to strengthen
relationships with customers, influence them to buy the commodity and create repeat
business. A sale is a part of a firm’s marketing and promotions. Five top reasons to
describe the importance of selling are mentioned below:
Personal Meeting-It is one of the most effective forms of promotion for a business.
Here, sellers can make eye contact, make conversation, and demonstrate the
advantages of the product or services.
Make direct conversation-This impacts a sale by listening to the seller as it can more
efficiently communicate a value proposition.
Get direct Feedback- Great salespeople and companies can utilise the opportunity to
obtain feedback on their company, goods, and service.
Gain Customers Loyalty-Selling helps in managing ongoing customer relations. The
salesperson connects with the customers and maintains conversations about customer
needs.
Why Is Marketing Important?
Marketing is a significant part of any company. Marketing is essential for creating
brand awareness, strengthening sales, and retaining customers. Most of the businesses
today are adopting digital marketing for promoting their goods and services. They
offer their goods on online platforms. Marketing is one sector which is expanding
rapidly. There are many purposes of core marketing, such as purchase, sale, finance,
transport, etc.
Provide Effective Information-It is the most efficient way of interaction with your
potential buyers.
The backbone of Business –Marketing is like fuel for a business, without it, a
company cannot sustain itself for long. It is used to fulfil every business requirement.
Increase Sales-It is important to boost sales and revenue.
Save Cost & Time-With this tool; a business can quickly reach a large audience. It
helps in creating brands awareness, improves sales and extends customer services.

MARKETING ENVIRONMENT: CONCEPT-IMPORTANCE-MICRO AND

MACRO ENVIRONMENT.

Micro Environment Factors

 Suppliers: Suppliers can control the success of the organisation when they hold
power. The supplier holds the power when they are the only or the largest
supplier of their goods; the buyer is not vital to the supplier’s business; the
supplier’s product is a core part of the buyer’s finished product and/or business.
Imagine they are the link in the value delivery processes and what impact this
may have.
 Resellers: If the organisation’s product or service is taken to market by third-
party resellers or market intermediaries such as retailers, wholesalers, etc. then
the marketing success is impacted by those third-party resellers. For example, if
a retail seller is a reputable name then this reputation can be leveraged in the
marketing of the product. They are the link between the organisation and the
customer, so are important due to factors such as promotion and distribution.
 Customers: Who the customers are (B2B or B2C, local or international, etc.)
and their reasons for buying the product will play a large role in how the
 organisation approaches the marketing of its products and services to them. It is
also important to note the stability of demand and how this can impact the
outcomes of any marketing efforts.
 The competition: Those who sell the same or similar products and services as
the organisation is the market competition, and the way they sell needs to be
taken into account. In reality, every organisation that sells something similar is
classed as competition. What impact do their prices and product differentiation
have? How can the organisation leverage this to reap better results and get ahead
of the competition?
 The general public: The organisation has a duty to be a good corporate citizen.
Any actions the company takes must be considered from the angle of the
general public and how they are affected. The public has the power to help the
organisation reach its goals; just as they can also prevent the organisation from
achieving them. The opinion of the public can play a key part in the success of
any marketing efforts.
Macro Environment Factors
 Economic factors: The economic environment can impact both the
organisation’s production and the consumer’s decision-making process. These
can include interest rates, recession, demand and supply for example.
 Natural/physical forces: The Earth’s renewal of its natural resources such as
forests, agricultural products, marine products, etc. must be taken into account.
There are also natural non-renewable resources such as oil, coal, minerals, etc.
that may also impact the organisation’s production. In the broader picture, these
can be linked to climate change, pollution and new law and regulations that
regulate the environment.
 Technological factors: The skills and knowledge applied to the production, and
the technology and materials needed for the production of products and services
can also impact the smooth running of the business and must be considered.
Automation, connectivity, speed and performance are all necessary
considerations.
 Political and legal forces: Sound marketing decisions should always take into
account political and/or legal developments relating to the organisation and its
markets.

 Social and cultural forces: marketing must consider changing in culture and
society when creating successful marketing activities. These include aspects
such as demographics, consumer attitudes, buying patterns, changes in
population and employment patterns as well as changes in living standards.
MARKETING MANAGEMENT

What Is Marketing Management?

Marketing management is the customer-centric execution of marketing tools to
promote a business. Marketing managers use tools and strategies to analyse an
approach to satisfy the organization’s objectives and boost customer satisfaction. It is
a crucial function for the organization’s growth as their extensive planning and
strategizing manifests in this execution process.

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The marketing management process also analyses the past performance of previous
campaigns. It uses data points to curate a better basis for improvement in the current
and future projects or marketing plans. It is both a science and art of retaining
existing customers and creating new leads while providing an environment conducive
to high levels of customer satisfaction and a better brand image.