“Concepts of Marketing Management”

Introduction4

Marketing Channels4

Traditional Television5

Radio5

Newspapers5

Magazines5

Letters6

Search Engine Optimization6

Pay per click (PPC)6

Niche Marketing Strategies6

Product Positioning7

Functionality of Positioning8

Product Differentiation8

Creating Differentiation9

Packaging Information9

Media Planning11

Media GRPs12

Psychographic Segmentation12

Lifestyle13

Opinions, interests and hobbies13

Degree of Loyalty13

Value Pricing14

Integrated Marketing Communication14

The Connection of Business Activities15

Public Relations in Marketing15

Marketing Communications Planning16

Concept of Multi-Cultural Marketing17

Consumer and Business Marketing Difference18

Organizational Buying19

Conclusion20

Concepts of Marketing Management

Introduction

This paper is formulated to elucidate my understanding of the Concepts of Marketing Management as appealed by the PLA. Based upon my extensive experience of more than 15 years, I have learned various conceptions of marketing management. Despite of it, I have also well-read various literary work and books related to this particular subject. This paper will provide an in-depth understanding of the notion and perceptions in which I was declared as inadequately competent from appeal committee.

In my past working experience, I have thoroughly pursued various marketing management tasks successfully. And this is merely the reason that I am quite confident on my marketing management proficiency. However, I agree the fact that my knowledge is rather based upon practicality than contextuality. Thus, to sparkle my contextual understanding, I have well-read a number of marketing management books, and this is for the second time that I am attempting to attest my knowledge in the field of marketing management.

This paper will elucidate upon 15 different concepts of marketing management, which are discussed in detail.

Marketing Management is principally the practical application of the marketing concepts and models. This includes the administration of the organization's marketing activities in relation to the resources available to the organization. This activity of marketing is to supervise and coordinate virtually all procedures, from the production, intended to assist the sale of a specific product. The product manager participates in various areas of marketing (market research, product planning, pricing, advertising, sales promotion and distribution), as responsible for a specific product.

Marketing Channels

There are various marketing channels, which a company can adopt to market, promote or advertise its product. However, the below mentioned channels are considerably some of the most frequently used marketing channels in today's business world.

Traditional Television

TV advertising is still one of the best medium to get spread out the population and have drawn attention to it, when TV covers the vast majority population. TV advertising has in recent years become more and more entertaining, to discourage people to change the channel (Rosenbloom, 2011). TV is a very expensive business and therefore, reserved for the largest firms, such as telecom, automobile and large FMCGs etc. For us, TV is less good because we still cannot get much back in relation to the investment as banner ads etc. gives a much better Return on investment (ROI).

Radio

Radio can be a great way to reach its target audience, especially commuters and generally people who run much in the car, for although there are CD player, etc. But still being listened the most; radio is actually not so expensive channel(Rosenbloom, 2011). Using radio, it is recommended to create a special - easy to remember - jingle for the ...