kerlo duniya mutthi me.....
Hello my dear friends...
Once again all of you are most welcomed in the world of "Management Under Atom". "Marketing Management" is next part of this blog. I am sure this will be appreciated by all of you. Before proceeding, I would like to share some thing. Yesterday I was reading an article " Marketing vs. Finance" based on a debate that which one is most Important to run a company successfully.
One had stated -
"That Marketing is one of the most important tools than finance because today it is more important to attract costumers towards the product and to persuade them to buy product then a good customer relationship is again equally important task to retain customers".
Other person was saying -
"That Finance is most important tool for a company. Without a good financial management company cannot even move a head." After reading this article I think a lot on aforesaid debate that is that important to classify the thing like above? After analysing both statements finally I got my answer. That is both are equally responsible to move the company ahead. If one is Heart(Market) than another is Brain(Finance). Improper co-rdination between both is the main reason of liquidation of a company.
Once you use finane which deals with financing of funds and their applications while investing in different avenues, you have to be very careful about your obligations and all those avenues where the funds are going to be invested because return from those avenues will help you to pay off your obligations. So, if you have invested your funds to make a product then it is compulsory to sell product because that return will provide you an edge to take pay off decisions, and here, marketing comes in. Marketing starts playing role to get back your invested money. Other factors are also important like after sale services, employee relationship, ethics, good governance and all.
Therefore, improper co-ordination between both will lead towards liquidation, bankruptcy or failure of any business.
Let us switch over the Marketing Management. From the very beginning let us see what is marketing?[/b] In very simple words marketing is "Meeting needs profitably." Now the other question arises what is the need of Marketing or Marketing management?[/b] if we look 60 years back seldom we found marketing management. So, what is going to change in today's world?.
[*]Customer's perception towards products and company.
[*]Giant market of same kind product.
[*]A huge competition among competitors.
[*]A greater Variety of product for a single user.
[*]Large supply vs. less demand.
[*]A greater Variety of offers in same product.
[*]Customer taste.
[*]The New Economy.
[*]A substantial Increase in buying power.
[*]A greater use of Information Technology.
[*] A greater ease in interacting, representing their offers, and placing their orders.
[*]Customer ability to compare products, qualities, offers, and services.
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All these factors are responsible for Marketing Management.
Marketing Task:-[/b] Marketing task is to provide best quality, goods, offering and services to customers within a certain amount of time period. In today's scenario, if one is capable to provide quality product with excellent services, one will always alive in the heart of customer. Apart from the product; Quality and Best services play important role to win the marketing task.
"Marketing task is to develop the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value."
As well atom can not live alone.
"Atom task is to develop the art and science of choosing target homogeneous or heterogeneous atom and getting, keeping and growing atoms through creating new bonds, delivering it's own electron, and exchanging properties and values."
By delivering good quality product with extraordinary services, the soul purpose of company is to make a emotional bonds with its customers. This process creates Brand Image of product. Every company is looking for long term relationship with its customers. This is the way to keep in touch with the customers, and this long term relationship philosophy helps company at the time of recessions.
How Marketing can be done...??[/b]
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Advertising strategy, promotion strategy, pricing strategy, offering strategy, customer relationship, Total customer satisfaction, Building a Revenue and Profit Model, selling concepts, social networking concepts all are required for a good marketing and for a good business process, but the most important thing which has totally changed the marketing concept is fast Information Exchange, Communication among consumers, fast Internet access, Chatting rooms, Telecommunication, telephonic services, and many more. Business is booming after adopting these marketing concepts (Internet Marketing). As Industries are growing up, cut throat competition is growing as well.
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Marketing beyond limits....