The marketing manager is involved in managing the firm’s marketing activities. What is marketing marketing then? This refers to the use of marketing techniques and their practical application in market-oriented activities such as marketing resources. Determining customer demand is one of the most important tasks of a marketing manager.
The marketing manager is able to influence the composition, timing and level of customer demand. The role of the marketing manager will vary depending on the size, corporate culture and industrial context present there. For example, at a large company, the marketing director may assign him the role of general manager for his products.
A marketing manager must go through five important steps. These steps begin with market research and end with market control.
In order to have a proper idea of the contemporary market environment in which a product will be introduced, a marketing manager must do a market analysis. This happens by collecting information about the current situation, assessing potential customers and analyzing market competition.
There are many ways in which market research can be conducted. Some of the more popular techniques include statistical research, focus groups, test markets, and ethnographic observations.
Determining the goal
There are fixed target customers. An estimate is made of customers who will want to use the product. The business estimates the number of customers it wants in a given time frame. It uses market research data to determine this goal. The third step in this process is called marketing strategy.
In order to replace this step, the company needs to have a firm idea of its competitors & # 39; location and user base. Then the marketing manager can use different methods to maximize business profits. A strategy can have different purposes. This could aim to grow revenue or optimize short-term unit margins. It may also bear in mind the long-term profitability of the business or its market share.
This includes four marketplaces, including, product, price, location and promotion. The right combination of four Ps can lead to successful marketing of the company.
A variety of tools such as market shares, premium pricing achieved along with customer loyalty measures are used to determine the success or failure of a brand. It looks like the combination of the four Ps in the marketing mix is made right or not.
A person does not become a marketing manager in a day. It takes experience that usually starts with a low level job and builds up.
by Pepik Smith