A marketing strategy is important for a company to make a profit.
For marketing to be successful, each process must proceed efficiently and effectively. Management of all marketing activities is also an important point.
Therefore, this time, we will explain in detail the processes that should be held, including the basics of marketing management.
Article content and conclusion
- Marketing management systems and processes
- Marketing management staff job description
- Marketing management is the key to project success
What is Marketing Management?
Marketing management is a mechanism for checking the marketing process.
What is marketing
First, marketing is a general term for activities that build a system that sells. In other words, all related activities such as analysis of customer needs, development of services and products based on the analysis results, advertising, and publicity, and finally making purchases and earning profits can be marketing.
In a nutshell, marketing is the activity of acquiring customers and making a profit.
3 types of management
As a strategy for companies to acquire customers, the following three types of management are necessary.
- Marketing management (market strategy)
- Innovation management (product strategy)
- Program management (corporate strategy)
In order to win customers and increase profits, it is necessary to examine the market and products, and then devise a corporate strategy that maximizes the potential of each.
From here, I will explain “marketing management”, which is the market strategy among the three.
Three systems of marketing management
Marketing management is also called a “marketing management system” and consists of three subsystems.
Each subsystem is described below.
- Marketing planning and budget management
- marketing information system
- marketing organization
Let’s check what they are like one by one.
Marketing planning and budget management
The key to marketing planning is to be as specific as possible. You have to set detailed plans for the short, medium, and long term.
It is not enough to just create a plan, but it is important to set realistic figures. Be aware that an unrealistic plan will lead to a decrease in the motivation of project members.
marketing information system
In marketing planning, it is important to make a concrete plan as much as possible, but in order to do so, it is necessary to quickly and accurately collect information such as the trends of competitors, the sales situation of products, and the market environment.
In order to obtain effective information for marketing, the information system should be properly maintained.
In order to smoothly operate marketing plans and information systems, we need human resources and organizations to carry them out. Set up a system and evaluation method as a marketing organization and reflect it in your marketing strategy.
What is Marketing Management Process?
Marketing management is based on the following six processes.
- Market research
- Market segmentation
- Market selection
- marketing mix
- Marketing execution and evaluation
Let’s take a look at each process below.
The first process is a survey analysis of the current situation. In addition to analyzing your own environment and market environment, it is also essential to analyze the macro environment and competitors.
“PEST analysis”, “3C analysis”, “VRIO analysis”, and “SWOT analysis” are typical methods.
Market segmentation/selection (STP analysis)
In market segmentation and selection, we clarify the market through STP analysis. STP is the following three processes.
In segmentation, the market is subdivided by customer base, customer needs, purchasing process, etc., and analyzed.
Targeting is the process of selecting segments that a company should develop based on the results of segmentation and analysis. Analyze whether you can take advantage of your company’s strengths, etc., and consider whether you should enter.
In positioning, consider whether your company’s products and services meet customer needs and how they differ from other companies’ products, and consider which position you should take within the selected segment.
The marketing mix (4P analysis)
The marketing mix is also called 4P analysis. The 4Ps are the following four words starting with P.
- Product (product)
- Place (distribution)
- price (price)
- promotion (sales promotion)
Let’s take a quick look at each below.
Consider what products and services you want to market. We have to come up with something that satisfies the needs of our customers and also differentiates us from other companies.
It is also necessary to consider the distribution channels through which products and services reach customers. If you actually run a store, sort out what kind of location it is, whether you will create a website, whether you will use existing services, etc.
Consider what price range you will offer your products and services to in the market you are developing. At the same time, consider the sales method and payment methods, such as whether to adopt a one-time purchase type or a subscription type.
promotion (sales promotion)
In sales promotion, we consider methods of sales and advertising operations to get customers to make cognitive purchases. After analyzing the cost-effectiveness, you have to choose the most suitable method to maximize the profit.
Marketing execution and evaluation
After conducting research and analysis using the methods described above, we will carry out marketing.
Marketing is not the end of execution, it is also important to measure and evaluate the results. Let’s use it for various marketing of your company as well as picking up points to be improved and correcting them as continuous marketing of the same product.
8 Challenges of Marketing Management
When it comes to marketing management, the name Philip Kotler is often mentioned. He is known as one of the leading figures in modern marketing, and many of his books are available in Japan.
Kotler has raised the following eight themes as issues for marketing management.
|conversion||Convert the negative demand that exists due to prejudice in the market into a positive one.|
|tuning||Smooth out irregularities in demand, such as seasonal fluctuations.|
|stimulation||Create demand by conveying the appeal of products in a market where there is no demand, to begin with.|
|stubbornness||If your product has a dominant position in the|
market, maintain your position against competitors, and market forecasts.
|development||In a market with latent demand, we will develop it so that demand will materialize.|
|Suppression||If there is a trend of excess demand in the market, suppress the trend and normalize it to an appropriate range.|
|reproduction||Implement regeneration by anticipating declines in demand.|
|oppose||Attempting to reduce or eliminate demand by intentionally rating a product as unsuitable.|
When conducting marketing management, it is important to be aware of the above eight points.
Contents of work of marketing management personnel
In addition to setting goals and managing schedules, marketing management personnel are also required to coordinate with external and internal related businesses.
From here, we will introduce the following four specific tasks for marketing managers.
Cooperation between departments
Cooperation between companies
coordinator and manager
The first thing to do in a marketing project is to clarify goals and objectives. By clarifying what you want to achieve through your project, you can set your goals.
An example of a goal setting would be a specific increase in sales or an increase in market share. On the other hand, goals should be set as milestones to achieve the purpose.
Cooperation between departments
Marketing practices often impact multiple departments, not just within a team. Therefore, collaboration between departments is necessary. Marketing management personnel are responsible for communication between departments.
Whether or not each department can cooperate smoothly is a part that greatly affects the success of the project, so it can be said that it is a place where you can show your skills as a marketing manager.
Cooperation between companies
Marketing managers often need to collaborate not only with departments but also with external companies. If the marketing measures cannot be carried out in-house, it will be necessary to outsource to a third-party organization, which will act as an intermediary.
Taking web marketing as an example, it is not uncommon to outsource a part of the work because it requires various tasks such as website creation, banner/icon creation, and advertisement operation.
Coordinating smoothly with outsourced partners and managing the project so that it can lead to success is also an important role of the marketing manager.
coordinator and manager
Marketing managers manage not only their own work but also the schedules of team members and outsourced companies. If there is a delay, it is the role of the marketing manager to consider how it can be recovered.
Summary: Marketing management is the key to project success
In this article, we have introduced the basic outline of marketing management, the three systems, and processes that makeup marketing management, and the specific work content.
Marketing management is a very important factor for companies to increase sales. A successful project leads to a successful company.
Let’s take a second look at the marketing management of your company based on the content introduced in this article.
If you are looking for talented people to do marketing management, please contact Workshop.
The workshop is a human resource matching service that connects freelancers and companies. There are over 30,000 registered freelancers of various occupations.
Companies can not only post job postings, but also scout candidates. If you want to proactively recruit excellent marketing management personnel.