Marketing management can be defined as a business discipline which is focused on the practical application of marketing techniques and the management of a firm’s marketing resources and activities. In the present times, globalization has led firms to market beyond the borders of their home country, making international marketing an integral part of a firm’s marketing strategy. Marketing managers have to be wide awake to the level, timing, and composition of customers’ demand. In part, this is because the role of a marketing manager can vary significantly, based on a business’s size, corporate culture, and industry context. In order to create an effective, cost-efficient marketing management strategy, the firms must possess a detailed and objective understanding of their own business as well as of the market in which they operate.
In marketing management, various types of tools from economics and competitive strategy are employed to analyze the industry context in which a firm operates. These include Porter’s five forces, analysis of strategic groups of competitors, and value chain analysis, among others. Depending on the industry, the regulatory context may also be important to examine in detail.
As an area of study, marketing management is very vast and includes many sub-fields, like consumer behaviour, customer orientation, marketing planning, marketing segmentation, pricing, branding, business promotion, supply and distribution of goods and services, etc.
The book covers all these areas of marketing management in simple language and lucid manner for easy understanding by the readers. Definitions and views of experts in the field have been given at appropriate places. Important questions from the examination point of view have been given at the end of each chapter to help the students prepare accordingly. The book will be useful for the students pursuing various courses on management where marketing management is an integral part.
Priyanka, PGDBM, M.Phil., worked as HR Executive in Accent Information Systems (P) Ltd., and as Assistant Professor in Management/HR in Jagan Nath Institute of Management Sciences (JIMS). She also worked as Assistant Professor in SRCC, and Laxmi Bai College, University of Delhi. She cleared UGC NET in 2010. She has participated and presented papers in many national and international conferences. She also chaired two technical sessions at a national conference on HRM in 2013. Her areas of interest are Human Resource Management, Business Organization and Management, Principles of Marketing, and Marketing Management, among others.
