Free Sample: Marketing Management paper example for writing essay

Marketing Management - Essay Example

They are: ; Demographic Forces Economic Forces ; Political Forces ; Technological Forces ; Natural Forces ; Cultural Forces Introduction A significant economic effect of e-commerce is the reduction of transaction costs compared to traditional commerce. Transaction costs are the costs associated with organizing a transaction, starting with searching for a product, then negotiating for a price, and finally making the purchase. E-commerce reduces transaction costs by removing many barriers that were previously faced.

Customers who had to drive to a physical store,manually compare before buying, can now do this for many products inline, anytime, with the help of comparison shopping sites such as Flippant. For information on products which can be both bought and delivered online, e- commerce also reduces the product delivery cost. Across manufacturers, suppliers, warehouses, and stores so that products reach on time and at the right location. E-commerce platforms provide fast, synchronized exchange of supply and demand information between supply chain members thereby reducing costs, as well as increasing customer satisfaction.

E-commerce is also facilitated by technologies that allow easy communication across the world. Technology also has an effect on social issues, such as privacy. Its relatively easy to gather personal information about consumers on the internet. While companies have always looked for information about their customers’ purchasing patterns, the Internet simplifies this process and allows new types of information to be collected. MaJor companies such as Amazon endorse using clearly posted privacy policies on web sites that detail where and how personal information can be used.

On the positive side, companies generally collect customer information to provide more personalized service and to speed up online transactions. Amazon. Coma’s imbibes information about a customer’s past purchases with those of other customers with similar purchases. Since these data detail not only how much was sold, but also where and to which demographic groups, marketing campaigns can use these data to target customers and promote products in the market. While privacy addresses the customers’ control over their transaction information, security considers how such transactions can be protected.

Customers must be confident that credit card numbers will remain secure before providing them on the Internet. While fraud has always been possible, the potential for thieves to steal credit card numbers as been a big concern. To reduce this, companies use digital certificates to authenticate that they are who they claim to be, and not some fraudulent site stealing customer information. Certificate authorities issue digital certificates to companies. These certificates protect the integrity of customer data exchanged online.

Once the transaction data resides on the merchant site, firewalls can be used to restrict Internet access. E-commerce businesses may be completely online enterprises or they may be a mix of online and traditional business, wherein the Internet adds another channel for reaching the consumer. Of late,vast amounts of money is being poured into the rapid creation of web-based businesses and services. The information required by investors before they fund a new enterprise is overlooked during the rush to fund Internet-based companies that offer an appealing idea.

By contrast, traditional grocers, avoiding a purely Internet-based strategy, have more slowly entered the realm of e-commerce by combining traditional grocery stores and Internet order-taking. Other traditional retailers that rely on a solid existing distribution infrastructure, have capitalized on the Internet’s new sales channels while minimizing new distribution costs although most e-commerce start-ups generally start out lacking brand name and existing supplier-buyer relationships, both of which cost time and money to establish, often end up running out of money and the ability to raise more money before they can turn a profit. -businesses do face rigorous competition, and some businesses have become available to connect customers with the products and services they want, the Internet often effectively creates new competition. EBay, which effectively launched the online auction market, is an example of a successful e-commerce enterprise. Finding the right mixture of on-and-offline commerce is always a challenge. As is the case in traditional business ventures, the experience gained by the successes and failures of one generation of entrepreneurs can serve as case studies for the commerce leaders of the future.

Economic Forces In e-Retail The Driving Forces for E-commerce Are: Strong competition: Now competitions the part of any business and companies are implementing new techniques every day to bear their competitors. E-commerce is one of the tools of recent days, which is adopted by the companies. Global Economy: In Present Scenario world becomes a global village and there are standard patters in market for business, so every country must follow these norms. There is huge gap between the growth rate of developed and developing nation, so more and more developed nations are investing in every part of world.

E-commerce is the need of such a scenario. Extremely Low Labor Cost in Some Countries: Now this the common feature of business that companies are having manufacturing units in one are of the world and the same products is marketed in other part of the world. Definitely some medium is required to maintain it and e commerce is providing such medium. Frequent Changes in Market: As we discussed above that the age of technology so any change which takes place in part of the world, rapidly reflects every where so commerce it the tool which is necessary to sustain in present fast changing world.

Awareness Among Consumers: Awareness Among Consumers: Now consumers are well aware. Internet, print media and electronic media keep update the consumers about new products and their rates. Government Regulations: Every country have its own rules and regulations but now a days almost every country have well defined cyber laws which provides a right environment for the e commerce. Reductions in Government Charges: Now world is very open, some countries provides lot of rebate in tax and in other forms to do business. But some other countries reducing the soaps for business. E-commerce provides the opportunity to take these challenges.

Rapid Political Changes: Whenever government changes n any country there are some changes in guidelines and polices towards the business. It is also work as driving force for the e-commerce. Rapid Technological Changes: Technology is the factor, which provides e-commerce an opportunity to become and perfect solution for business. Access To New Technologies: New and secure technology available in the market, which provides an easy, cheap and secure platform for the e-commerce. Cheap Information Access: By using e-commerce we can easily efficiently manage secure medium for managing important information.

Digitization: The digital revolution has made it possible for digital devices to communicate with one another. The Internet’s massive growth during the past decades- a creation of market forces- will continue. Steady increase in computer power and decreasing cost made navigation on the internet. Low Barriers to Entry:The Internet has relatively few barriers to entry. Certainly, companies that operate online must often compete with traditional companies in the same industry. However, launching an e-commerce business operation is very possible for may entrepreneurs.

Many stay-at-home parents have turned handcrafted hobbies into global businesses thanks to their ability to set up a website and ship goods around the world. These low barriers to entry do also make for a more competitive landscape, though, with many companies often fighting for the same customers. Cost Factors:Economics is essentially about how to use limited resources effectively. One of the advantages of operating online is that certain costs re eliminated or reduced. You don’t have to pay for a building and storefront equipment. Additionally, you don’t have to have in-store sales and service workers.

You do have store and distribution center costs, though, assuming you make or resell goods. Having products sent from vendors after sale even allows you to work around this factor. Website maintenance and marketing are often the inherent costs in a successful e-commerce business. Macroeconomic Conditions:Macroeconomic factors are those that affect a society or population as a whole. In general, when economic conditions are weaker, consumers end to price shop and seek out lower-priced alternatives. The competitive nature of the Internet and its economies-of-scale advantages play well with price shoppers.

Many sites allow consumers to directly compare prices from one business to those offered by others. Price shoppers also don’t place as much onus on personalized service, which is a strength often promoted by traditional stores. Other Impacts:underlying economic conditions also contribute to expansion of commerce solutions. When economic conditions are favorable, online operators can often afford to invest in additional product acquisitions and promotion. They can also expand back-end business systems, such as distribution, transportation, logistics and inventory control.

All of these processes also bring with them investments in new labor. Strong economies also contribute to technological advancement, which propels the ability of e-commerce companies to provide top-notch solutions and buying processes for customers. Porter’s Five Force Analysis of e-commerce An analysis of Porter’s Five Force Model in the e-commerce industry can be done as follows: 1) Threats of Entrance of New Enterprises: There are no barriers to entry in this industry because firms have adopted a diversification strategy to sell,ii. The products available to customers are not very differentiated. industry. The industry is growing and the products that are being sold are not very differentiated. Some of the firms try to differentiate themselves by adding competition to make the customer spend more time at the site. 3) Bargaining Power of Buyers:There is a strong prevalence of this because it is easy to find other suppliers in the industry. They have no loyalty to the brand. They look for cheap & better products. They have lots of options in the industry. ) Bargaining Power of Suppliers:let is kind of low because the existing products in this industry are sold by many firms.

Bargaining power of suppliers is low because of existence of many suppliers in the Industry. 5) Threats of Substitutes:Len general, it is very easy to sell on the internet, so, there are threats of substitute products or service in the e-commerce industry. Products sold by one firm could be sold by others firms that are in the industry, for example, if the buyer do not get satisfied with price of a product, they can choose to buy other products that are being sold by another firm at a lower price.

Free Sample: Marketing Management paper example for writing essay

Marketing Management - Essay Example

Purpose of research ; Types of research ; Research findings ; Implementation and evaluation Introduction Each market Is capable of being further sub-divided Into segments. Barclay Is a global bank. It provides a range of financial services shares particular characteristics. These Include such factors as in 56 countries. Barclay provides retail banking services to age, life stages, geography or occupation. Within the market of customers, whether they are individuals or businesses.

It offers a arsenal banking, the segments could include categories such as broad range of financial products and services Including current students, graduates, ‘new to work, mature, and families. By accounts, savings accounts and general insurance. Identifying different market segments, organizations can ensure A market segment is a part of a whole customer group that they are providing products or services to meet the needs of these Within the UK, Barclay communications are designed to help customers. In Dalton to this, appropriate promotional techniques can be used to reach the people in the separate segments. Ere day. Through segmentation, Barclay has been able to devise appropriate banking offers for customers in different segments. Different kinds of customers represent distinct markets for This approach is helping Barclay to improve its market share of Barclay. The market for personal banking services is very the student accounts market. Competitive. Personal customers have a choice of banks on the high street or on the web to assist them in managing their Barclay believes students constitute a very important market finances. For example, they can have their salaries paid into segment for the business.

Students may be choosing a bank for accounts, pay bills through the bank or save money to gain the first time and Barclay hopes to retain these customers. By interest on their savings. Focusing on the specific needs of this segment, Barclay hopes to attract more student customers and keep them in the long term. There is also a competitive market for business banking services. Using market research has enabled Barclay to identify the right Businesses require different services such as credit management, product offer that will meet their needs. Hymens for suppliers or loans and overdrafts to help them to The case study shows how market research enabled Barclay to improve its student account offer. Market: Any medium through which sellers and buyers can negotiate a sale. Market segment: The percentage of sales within a market that is held by one brand or company. Segmentation: Dividing up a marketplace into parts, each comprising a group of consumers with common characteristics. GLOSSARY survive and grow. For example, an expanding business may need Market share: The percentage of sales within a market that is held by one product, brand or company.

EDITION 15 www. Timeless. Co. UK Barclay I Discovering customer needs through research 13 Purpose of market research The purpose of market research is to gather data on customers and potential customers. The collected data aids business decision making. This therefore reduces the risks involved in making these decisions. In order to create a product proposition that would attract new student accounts, Barclay needed to understand fully the needs of this target market. Before engaging on external market research, Barclay began by asking itself a series of key questions.

It did this to ensure the business was Lully aware of all the relevant issues and did not make incorrect assumptions. Programmer of market research. The purpose of this was to establish what students really needed from a bank. In this way it could offer appropriate products and services which 2 would add value to students. Who are our key customers? Types of market research What are their needs? Evaluation 7 In-line management 6 Help customers Take ‘One Small Step’ to managing their money better every day Delivery/ implementation of product or proposition 3 Barclay began a process that involved both primary and secondary research.

Primary research involves finding out new information. It should we offer to meet their needs? Finds the answers to specific questions for a particular purpose. These enquiries may take the form of direct questioning. For example, it may include face-to-face surveys, postal or online 4 How should it be delivered? Questionnaires, telephone interviews or focus groups. This type of direct contact with people is valuable as it gives specific feedback to the questions asked. However, it is important that the questions are clear and that the researcher is trained.

This will ensure that the 5 results are not influenced. Although primary research can be expensive and time- consuming, the up-to-date and relevant data collected can give organizations a competitive advantage. This is In asking itself these key questions at the start and reviewing because their rivals will not have had access to it. Internal customer data, Barclay was able to clarify its rationale for acquiring students. Firstly, students provide an opportunity for Barclay’ primary research process began internally with two key developing a long-term relationship.

As the student market questions: segment increases each year in September/October as the Who should our key customers be? University term starts, Barclay has an annual opportunity to target ; What are their needs? The insights from these questions provided a factual basis to yet have chosen a bank. Work from. Secondly, the use of this data highlighted that in the years after After this an external agency was employed to carry out an opening their accounts, Barclay was able to establish a valuable opinion panel. This took the form of an online questionnaire.

The long term relationship with students. This meant that students results of this delivered data about the market itself, as well as loud now be seen as an extremely important market segment, Barclay’ market share among this target audience. Quantitative and attracting new student customers became a significant research presents information in a numeric way, such as graphs, opportunity. Tables or charts that can be used to analyses the information. Product proposition: The total mix of benefits represented by a product and offered to the customer.

Primary research: Acquisition of new data to meet a specific objective. Quantitative research: Research resulting in numeric data capable of statistical analysis. 14 Secondary research may be quicker to carry out but may give less specific outcomes for the topic in question. This part of Barclay research revealed that student accounts in 2009 amounted to 0. 4 million out of a total market of 5. 4 million new accounts. Research findings Numeric data gives a factual basis for planning – a snapshot of a situation.

On the other hand, qualitative information can find out the For example, Barclay found from the questionnaire that 81% of students surveyed held a savings account and 32% an investment savings account (SIS). Things that really matter to consumers. For example, 80 out of 100 consumers questioned might say they preferred one brand of coffee over another. However, more valuable information comes from understanding what it is they prefer. Is it the smell, the taste, the The opinion panel also provided qualitative feedback on what was packaging or the price?

To meet student needs for a valuable, helpful of interest to students and what they wanted from an account. Financial service, Barclay needed to understand what students really Qualitative research provides information on consumer wanted. By using student focus panels and staff working in branches receptions, such as: with a high proportion of student customers, Barclay was able to ; how they feel about products and services ; what they like or do not like ; what they would want from a new product.

The outcomes of the opinion panel and the sample of student customers showed that: The panel produced valuable insights which Barclay used to help ; students relied heavily on different forms of credit. These re-evaluate its existing student account. It then used the included an easily manageable bank overdraft to finance their information to develop new features and benefits to meet the mime at university established needs. students wanted and often needed to own high-tech gadgets The enhanced student account proposition was then tested ; students wanted to have separate accounts to manage their and electrical goods, such as laptops directly with 100 existing and new Barclay Student Additions account holders. This was carried out through bank branches and an online questionnaire. The sample group provided more student borrowing and spending ; any incentives offered would not alone motivate students to choose that product. They were expected as part of any deal. Alliterative feedback about what motivated students to choose a particular bank.

Although small, the sample allowed Barclay to get This insight was a real help to Barclay when considering the most a feeling for how students would respond to the proposition. For Barclay, it was important to know what motivated a student to student accounts. It also wanted to retain students as customers choose a bank. Using existing students meant the bank was able for life in a profitable relationship that met their financial needs. To assess if the new offer would meet their needs. The expectation was that new and true students would also find it attractive.

Secondary research focuses on existing information. It uses published data that previous research has already discovered. This covers a wide range of materials, such as: ; market research reports ; sales figures ; competitor marketing literature Qualitative research: Research that is concerned with opinions, feelings, perceptions and attitudes. ; government publications, e. G. National statistics. Secondary research: Collection of already existing data, typically from books, Journals or websites. Www. Bank. Barclay. Co. UK encores of the target market.

These concerns were financial security, credit availability, flexible banking and the right sort of incentives. Implementation and evaluation In 2009, Barclay set up a working group to oversee the setting up of the new student proposition. It used the insight from the research to establish the key features and benefits of the student account: ; no monthly fee – to keep costs down for students the account. Previously this started at IEEE in the first year and increased through the years of study. This extension helps students manage their finances mobile banking and a network of local branches – for ease of access to accounts.

Conclusion These features are valid for the life of students’ studies. The Barclay student account proposition shows how it is crucial Of several incentives tested with students, Barclay found that an for a business to listen to its market. To do this effectively means incentive based on a mobile or telecoms offer would have most targeting specific market segments to discover their needs. Appeal. This idea was tested further with students on university Barclay’ new student account proposition was an ‘insight-led’ campus. The students expressed a clear preference for an approach.

Free Sample: Marketing management paper example for writing essay

Marketing management - Essay Example

The hotel has marketing criteria where deferent prices re charged for the different seasonal period In a year. The pricing strategy is to ensure that clients volt the hotel during peak and off peak periods. The different marketing strategies employed by the Hilton hotels are discussed below showing their effectiveness. One of the popular modes of marketing used by the hotels is the selection of agents. The tourism Industry is a business flooded by deferent agent companies that book and reserve hotels on behalf of their clients. These agents receive a percentage of the prices they charge clients on room prices.

The main advantage of using agents Is hat they perform their own marketing on their websites and through other channels (Handlers and Manuel 24). Carrying marketing on their own cuts on cost of marketing the hotels’ services to people from different countries. An agent company established a long time ago has the advantage of having good knowledge of the operational market. The data that these agencies have collected over years can be provided to the hotel to make decisions on what prices and strategies to engage. Selection of the agent has to be done with carefulness.

Agents should have offices inning to reduce chances of appointing fictitious agents who will steal the clients’ money without providing required services (Handlers and Manuel 32). The agents are required to wire the money paid by their clients to the hotels’ accounts together with the details to confirm booking. The online booking system will eliminate chances of double booking a room or over booking of hotel spaces. The agent form of marketing has proved to provide a large number of customers because of trust between customers and their representative agency.

Trust arises in the place where customers meet the agency people face to face. Once the customers reach the offices they are provided with pictures of the hotel rooms and meals as a marketing tool. The pictures will help the client In making decisions on the room they will need to occupy during their travel. Agents have hotness that they call any time they need to clarify an issue. The hotlist ensures that an agent does not give wrong information to customers on pricing or availability of a room. Continuous evaluation of the independent agents’ offices is carried out to determine their compliance to the laid down standards.

Some of the standards are number of customers provided by the agent is done annually to determine their effectiveness. Payment of agents on commission basis ensures return of investment because agents are paid on basis of their effectiveness (Smith 312). The hotel has an online website, which is a marketing tool. The website contains details of the different places the hotel is located and the pricing of the different services. The building of the website is a great marketing technique because of its universality accessibility by clients from different locations of the globe.

The website though written in English can be translated to different languages using tools like Google translate. The Google translate is free, and no extra cost is incurred by the hotel. The website method of marketing proves to be the cheapest among the other form of marketing. The cost effectiveness arises from where the only fee required is the website construction cost and hosting. The hosting prices are charged on an annual basis, which is around 100 US dollars. To ensure correctness of the information on the website; the hotel has an information technology department harder with the task of updating information.

Update is carried on the current price of rooms or any additional services that the hotel has begun to offer. The updating of the website has an advantage in that any error in marketing the website that is made in the initial design of the website can be corrected. Through the ‘contact us page’ on the website, clients can register their grievances without any fear of visualization. The page can be used to obtain enquiries and determine the number of clients who visit the website (Linen and Gary 68).

The enquiries and mails received through the website are forwarded to the concerned department for action to be taken immediately. The website method of marketing provides a marketing tool that is available all the time. The availability is ensured by making sure the website is online for 99. 99% of the 366 days in a year. The website pages are divided according to the hotel’s locations. Pages are provided for the Kenya Hilton hotel and individual pages for the United State Hilton hotels. Use of such criteria in marketing is aimed at ensuring accuracy of the information required y clients.

Clients who are looking for a hotel in Nairobi will not be charged the same amount as that of the hotel situated in New York. Agents and companies providing tour services are allowed to link the website on their pages as a marketing tool. Linking of the website creates traffic to the website by people who are looking for hotels. The optimization of the website has been carried out to improve on accessibility. Optimization eliminates the need of customers memorizing the Universal resource locator (URL) of the hotel to access its home page.

Customers can find the hotel by imply typing its name on any search engine tool like Google and Being. Social media has gained popularity with more than one billion of the world’s population using the service. One of the popular media is Faceable, which marked the point of having more than half a billion users in 2011. Such information on social media makes it an attractive tool for marketing the Hilton hotel and other players in advantage of the media and started marketing through it. Marketing is done by placing adverts through the social media companies.

The adverts provide the link to the hotel website for interested customers. The social media marketing provides the means of restricting where the advert can be seen and the age group of people who can see the advert. The restriction will eliminate wastage of promotion money on people who are not potential customers to the hotel’s services. The social media companies provide data on the number of views an advert has received. The information is used to compute the popularity the hotel is gaining from the advertisement. The hotel has its own twitter account.

The interested customers can see tweets that contain details of the different status of the hotel. The twitter account allows customers to provide feedback on satisfaction of the services received. The hotel has created a Faceable page, which is universal and accessible by those interested in the hotel’s services. The Faceable page allows customers to make comments on updates made by hotel’s information technology department. The Faceable page creates a market because customers tend to trust information provided from fellow independent customers on a product.

Customers who have spent the night at any of the Hilton hotel destination normally provide the assessment information. The two pages, twitter, and Faceable are linked to the organization’s website in the form of icons. On clicking the icons, one is redirected to the company’s Faceable pages and twitter accounts. The use of broadcasting and print media in marketing the products of Hilton hotel has taken deep root. Adverts are booked in independent televisions and radio stations in different countries all over the world.

This form of promotion has problems in the coverage area, which is limited to the region served by either the radio station or television station (Broadcasting and Frances 45). To improve on overage, adverts are placed in companies that offer satellite television and online TV services. The satellite television stations are expensive in hosting adverts and time slots for the adverts should be chosen carefully. The adverts are placed between sessions of popular games, after the news and after popular television programs.

One of the satellite station used is the DUST, which is popular in Africa for providing viewers for sports. Providing adverts in such a station will attract clients who are taking sports tourism as a hobby. The station has channels that are famous for movies. Their customers provide one of the largest markets at the moment. The print media involves placing adverts in newspapers and magazines in different countries. This mode of marketing has challenges in coverage because most newspapers only serve their home nation. The print media is used during the peak tourism period in Africa.

Adverts are placed in newspapers like the New York Times in the United State. Placing of adverts in such papers targets the up market citizens who can afford the hotel’s premium services. This group of people has a high probability of taking holidays leading to the necessity of providing them with information on free hotel spaces. Setting different prices for products in different locations. The hotels in Africa have different prices from those in developed countries like the United State. The pricing separation is done during the peak and off peak tourism periods.

The hotel prices are set high during periods like December. This period sees tourists moving in huge numbers from Europe or the United States headed to Africa. The prices of accommodation of the hotels in Kenya at this time will be set high. The high prices will not discourage customers from making a booking because of the few hotels available and the large number of clients. This decision is made using the forces of demand and supply. The principle states that when the demand of a product is high, prices of the product tend to go high while all other marketing factors are held constant (Smith 27).

The constant factors are supply for hotel spaces available within the market. Use of the economic factors in determining prices has been applied in setting prices for the African and United State markets. In Africa, the factors of production are cheap making it a requirement for the product to be cheap. The actors of production include the huge readily available market to work in the hotel business in Africa. The cheapness in labor and other things like electricity, water bill, and security reduces the cost of operation for the hotel.

The hotel has tried to keep cohesiveness between what is marketed and what it can provide. This is ensured by having readily available information on the individual free hotel rooms and cooking for the customers. The hotel managers monitor the marketing avenues being used to eliminate chances of misuse. The provision of pictures in the website improves on the image because of confidence created among attention customers. The feedback system created through the call center in each hotel location and on the ‘contact us page’ on the website offers critical information.

The data can be used in implementing corrective measures to the problems arising from marketing before they become catastrophic (Rogers and Stuart 212). The affordability of the different modes of marketing used ensures return on investment. The return on investment is enjoyed by having a large number of clients visiting the hotel because of the marketing done through the websites, social media, and the ring media. The data on the number of clicks on adverts provided through the social media allows the hotel to make a decision if the social media mode of advertisement is valid.

In a recap, the modes of marketing employed by Hilton Group have shown success. The tools used for evaluation shows success like the number of clicks on the website are rising with each successful day. The business adapting to the information technology by advertising on Faceable and twitter provide for chances of massive growth in the future. The pricing strategy of charging high prices in estimation like Europe and lower prices in Africa is one of the decisions that has led to occupancy of the different hotels no matter their location.

Free Sample: Marketing Management paper example for writing essay

Marketing Management - Essay Example

Marketing Is the business function that Identifies unfulfilled needs and wants, define and measures their magnitude, determines which target raked the organization can best serve, decides on appropriate products, services and programmer to serve these markets, and calls upon everyone In the organization to think and serve the customer. Marketing Is the force that harnesses a nation’s Industrial capacity to meet the society’s material wants. It uplifts the standard of living of people in society. Marketing must not be seen narrowly as the task of finding clever ways to sell the company’s products.

Many people confuse marketing with some of its sub functions, such as advertising and selling. Authentic marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customers, profit to the producers, and benefits for the stakeholders. Market leadership is gained by creating customer satisfaction through product innovation, product quality, and customer service. If these are absent, no amount of advertising, sales promotion, or salesmanship can compensate.

William David observed: ‘While read devices are invented in the laboratory, great products are invented in the marketing department’. Too many wonderful laboratory products are greeted with yawns or laughs. The Job of marketers is to ‘think customer’ and to guide companies to develop offers that are meaningful and attractive to target customers. Already sea changes have been taking place in the global economy. Old business road maps cannot be trusted. Companies are learning that it is hard to build a reputation and easy to lose it. The companies that best satisfy their customers will be the winners.

It is the special responsibility of marketers to understand the needs and wants of the market place and to help their companies to translate them Into solutions that win customers approval. Today’s smart companies are not merely looking for sales; they are Investing In long term, mutually satisfying customer relationships based on delivering quality, service and value. Marketing Management By churchman’s Marketing is indeed an ancient art; it has been practiced in one form or the other, since the days of Adam and Eve. Today, it has become the most vital function in the oral of business.

Marketing is the business function that identifies unfulfilled and programmer to serve these markets, and calls upon everyone in the organization to think and serve the customer. Marketing is the force that harnesses a nation’s industrial capacity to meet the society’s material wants. It uplifts the company’s products.