Functions of Marketing Management in an Organization - Distacne MBA in Marketing - MITSDE

Functions of Marketing Management in an Organization 1

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Functions of Marketing Management in an Organization 2 ďƒ˜ Management is the art of getting the requisite work done efficaciously. It

includes planning, organizing, staffing, directing, and controlling to ensure proper functioning of an organization. ďƒ˜ Whereas, marketing refers to ascertaining and transmuting consumer

needs into goods and services. Hence, Marketing Management is the process of managing the marketing activities of any firm. ďƒ˜ Managing various aspects of the market such as branding, labeling,

advertising and other promotional activities comes under Marketing Management.

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1. Setting the objectives of marketing 3

 Every organization has its goals and objectives. Marketing objectives

include the goals that a company wishes to achieve through its marketing.  These objectives should be in coherence with the overall objectives of the

organization. The objectives can be long-term or short-term depending upon the type of marketing. 

Through proper management of marketing, the marketing objectives of the organization can be achieved easily.

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2. Planning 4 ďƒ˜ Once the marketing objectives are set, the next step is to formulate a

roadmap that would be followed to achieve these objectives. ďƒ˜ The organization plans the ways and formulates strategies, and devices

policies and procedures to achieve the set of goals.

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3. Organizing 5  Organizing refers to the process of implementation of the plan. It includes

identifying and grouping the activities that contribute to the achievement of the organization’s marketing goal.  In marketing management, organizing refers to the way the functions of

management are organized so that every function when performed contributes fully to achieve the objective.  It includes all the obligations, supremacy and responsibilities of those

working in the marketing team.

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4. Staffing 6 ďƒ˜ Staffing is the process of hiring the required and skilled personnel to pack

the positions in the organizations. ďƒ˜ For managing the market, skilled workers are selected and placed in

those positions in which they best fit in. ďƒ˜ The HR and the market manager together select the personnel and they

are then trained so that the company can gain maximum benefit from them.

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5. Directing 7

ďƒ˜ It is obligatory to supervise as it ensures that the workers are working

efficiently towards the achievement of the goals. ďƒ˜ Hence, through directing the personnel, new markets can be developed and

employees are motivated to work with their best efforts.

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6. Controlling 8

ďƒ˜ The process of comparison of the planned activities of marketing with

the results and then rectification is referred as controlling. ďƒ˜ Hence, for controlling, the standards must be set and the actual performance

should be compared to find defects or flaws. ďƒ˜ Then, the corrective action can be taken.

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7. Evaluation 9

ďƒ˜ t involves analyzing and evaluating the productivity of marketing campaigns

as well as evaluating the performance of the employees.

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Summary 10 ďƒ˜

These were the functions of marketing management. Every company nowadays seeks for marketing managers. Thus, candidates who undergo marketing management courses have a promising career. But, apart from theoretical know-how, a case study based approach and skill-oriented study is also required to excel as a marketing manager. This is provided

by MITSDE’s PGDBA in Marketing Management. This value-added course has the study material prepared by the industries experts so along with the theoretical knowledge; students also get a chance to learn different case studies and know-how.

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