MARKETING
Marketing management is an ever-changing, long-term, and dynamic structure. The stages of the marketing management process can also change constantly in this context. But there are also unchanging criteria. Before moving on to these steps, here are some of the objectives of the strategic marketing management process;
- Increasing the productivity of employees,
- Fostering productive and dynamic cooperation,
- Establish measurable objectives,
- Monitoring results,
- Optimizing the efficiency of the company.
Marketing management can be examined in 5 main steps. These are:
- Research
- Segmentation, Targeting, Positioning – Strategic Marketing
- Marketing Mix (4P) – Tactical Marketing
- Enforcement
- Control
Research
The first stage of the marketing management process is research. A marketing manager analyses the environment and studies to identify marketing opportunities. Then they gather information about the market to estimate target market demand and future potential. Here the marketing team will thoroughly analyze their target customers, their needs, their pain points, and how to offer a product or service as a solution.
Goal Setting – Strategic Marketing
When we come to the strategic marketing step, the company management decides which department will make a breakthrough more predominantly within the scope of the research results. Here, segmentation is applied in the target-setting part of the analysis. It is carefully decided which segment of the market can be addressed. The business determines the prominent features, advantages, superiorities, and differences of the existing service or good.
Tactical Marketing
The 4Ps of Product, Price, Place, Distribution, and Promotion come into play. The product is the exclusive offer and service offered to the market segment. Price is the price paid for the development and service. The place is where the necessary arrangements are made, and the product can be easily accessible to the targeted segment. Promotion is the public relations activities applied to inform the target audience about the product and to convince the target audience about them.
Implementation
Execution is the most crucial step in the marketing management process. It is putting the marketing strategy and plans into action and executing them to achieve all marketing objectives. Planning is determining how and when to initiate the system so that you can start the implementation process. Convincing customers about products and services through various methods such as advertising, sales promotion, and public relations.
Control
The control stage is the last of the marketing management process stages. It is to monitor and track the progress of the campaign. In this step, you can regularly analyze and measure the results of your planning and strategizing. By evaluating the measurements, you can see whether it has achieved the desired result. The control phase is not only observation for your company. The control phase is also necessary to track competitors’ movements and get a good idea of where you are positioned in the industry. It answers questions such as how the product’s success affects the price of similar products on the market.
Once these five steps are completed, the marketing management process is complete. Due to technology’s development, marketing management processes have become much more accessible. But at this point, getting support and relying on marketing professionals is indispensable for the company’s profitability.
Behind all businesses, big or small, there is a correct marketing management process. You can effectively and efficiently execute and realize your goals with proper process management. The concept of marketing is a long-term, constantly evolving, and active part. Every company must be ready to meet customers’ changing needs by ensuring constant satisfaction.
With a merchandising team and direct marketing experts, Operendia has the time savings, workforce, and traceability you need. You can get detailed information about the marketing management process by contacting us now.
