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Marketing Management

Meaning

Marketing management is an operative function which fills the gap between production and consumption.  It is the basic function of all business enterprises. The very existence of business depends upon its marketing management.

Marketing management is combined application of the functions of management – planning, staffing, directing and controlling. And the functions of the marketing management –marketing research, product planning and development, pricing, advertising, selling etc to facilitate an exchange of want satisfying goods/ services in order to achieve organization objectives.

In the nutshell, marketing management is the functional area of management which ascertains the marketing objectives, formulates marketing plans, organized marketing function and put these plans into actions and controlling them.

Acc. To Stanton, “Marketing management is a total of business activities designed to plan, price, promote and distribute want-satisfying goods and services to present and potential customers.”
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