About Marketing management

[arif]

About Marketing management

Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities.

Marketing management employs various tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others.[1] Depending on the industry, the regulatory context may also be important to examine in detail.

In competitor analysis, marketers build detailed profiles of each competitor in the market, focusing especially on their relative competitive strengths and weaknesses using SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of profits, resources and competencies, competitive positioning and product differentiation, degree of vertical integration, historical responses to industry developments, and other factors.

Marketing management often finds it necessary to invest in research to collect the data required to perform accurate marketing analysis. As such, they often conduct market research and marketing research to obtain this information. Marketers employ a variety of techniques to conduct market research, but some of the more common include:
-Qualitative marketing research, such as focus groups and various types of interviews
-Quantitative marketing research, such as statistical surveys
-Experimental techniques such as test markets
-Observational techniques such as ethnographic (on-site) observation



Source: https://en.wikipedia.org/wiki/Marketing_management