Essay Chantale and Clinton Call for Service

6213 Words Dec 27th, 2012 25 Pages
C H A P T E R

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The Nature of Marketing Management

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he term marketing management describes two separate but related topics. First, it is a common name for the capstone course taken by marketing majors as they prepare to graduate. In that context, integrating management and marketing concepts to help prepare individuals for careers constitutes the primary goal. Second, marketing management is a business process. It includes managing marketing activities in profit-seeking and nonprofit organizations at the supervisory, middle-management, and executive levels. Success in these endeavors will be based on a strong knowledge of a variety of marketing functions combined with a clear understanding and application of supervisory and
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Market segments are made up of groups of buyers in consumer markets and business-to-business markets. Products are the physical goods sold to customers and services rendered to them. Physical goods include both durable goods that last longer than 1 year and nondurable goods with shorter uses. Nondurable goods include convenience items, shopping goods, and specialty products. Services consist of the intangible items sold to others, including banking, financial, insurance, transportation, credit, and personal services. Prices are based on costs, demand/supply, competition, and profit goals. Pricing activities include setting base prices, offering discounts, and amending or changing them when needed. Place or distribution involves deciding where, how, and when products are made available to potential customers. The first decision is often the choice between exclusive, selective, or intensive distribution. Then physical distribution methods are chosen, including methods of storage and inventory, modes of transportation, forms of inventory control, and billing and payment processes. Promotional activities include creating the advertising programs, consumer and trade promotions efforts, personal selling tactics, and supporting public relations activities. The term integrated marketing communications has often been applied to promotions. Promotional programs are strongly influenced by changing preferences for media. The people involved

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