Marketing management is a business discipline which is focused on the practical application of techniques and the management of a firm’s marketing resources and activities. The marketing manager of a company plays an important role as far as marketing of the firm’s products and services are concerned. Apart from this, marketing managers are often responsible for influencing the level, timing and composition of customer demand accepted definition of term. It is worth noting that the roles of a marketing manager can vary significantly based on a business’ size, corporate culture and industry concept.
However, we will discuss about the general roles that all marketing manager independent of any business performs. These key roles of a marketing manager will be analyzed in depth below: 1. Carrying out of marketing research The first and most important role of a marketing manager is to carry out marketing research and analysis. The marketing manager should do a thorough marketing research and analysis in order to possess a detailed understanding of their own business and the market in which they are operating so as to make fact-based decisions regarding, marketing strategy and design effective, cost-efficient implementation programs.
The latter has to know whether his company is operating in a monopolistic market which is characterized by a large number of buyers and only one seller, in a perfectly competitive market which is characterize by a large number of buyers and a large number of sellers selling homogenous or partially differentiated product or in an oligopolistic market which is characterized by few suppliers for the same product. The marketing manager should be able to determine the market in which his company is operating in order to adopt marketing strategies that will prove to be effective and profitable for the company.
The marketing manager should also know the microenvironment and macro environment factors that can influence the company sales. Examples of microenvironment factors are direct and indirectcompetition, influence of suppliers and influence of customers; and examples of macroenvironment factors are economic forces, political forces, natural/physical factors, legaland regulatory forces, technological forces and socio-cultural factors. 2. Develop marketing strategies and plan.
The marketing manager should develop marketing strategies and plan. He needs to identify the company potential long-run opportunities given its market experience and core competencies. After the company’s strengths and weaknesses have been analyzed in order to determine which opportunities it can best pursue, that marketing manager should develop a marketing strategy that will help the company attain its overall strategic objectives.
If the product is facing difficulty inthe product life cycle, the marketing manager should be able to design a product with better features so that the product does not sink on the market but rather regenerate on the market. IN addition to this, a marketing manager can also use the company core competencies to design a line of the product. To better explain this, let’s take for example a company making camera, the marketing manager can use the company core competency in optics to design a line of binoculars and telescopes.
Moreover, a marketing manager can develop a concrete marketing plan that specifies the marketing strategy and tactics. 3. Capturing marketing insights A marketing manager is also responsible for capturing marketing insights. To understand what is happening inside and outside the company, the marketing manager needs a reliable marketingInformation System. The Marketing Information System is a framework for day-to-daymanagement and structuring of information gathered regularly from sources both inside and outside an organization.
MIS provide a continuous flow of information considered relevant to marketing managers. An MIS has got three components namely an internal records system,which includes information on the order-to-payment cycle and sales reporting systems; amarketing intelligence system, a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the marketing environment; a marketing research system that allows for the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation.
The marketing manager needs to be able to monitor the six major environmental forces: demographic, economic, social-cultural, natural, technological and political- legal. In thedemographic environment, the marketing manager must be aware of worldwide populationgrowth; changing mixes of age, ethnic composition and educational levels; the rise of non-traditional families; large geographic shifts in population and the move to micromarketing and way from mass marketing.
In the economic environment, marketing managers need to focus on the distribution of income within the society and the levels of savings, debt and credit availability and finally inflation within the economy. In the socio-cultural environment, the marketing manager must understand what people think of themselves, of others, of the organizations, of the society and of the world. The marketing manager should market a product that correspond to the society’s core and secondary values and satisfy the needs of the different subcultures that may exists within the society.
In the natural environment, the marketing manager need to be aware of raw materials shortages, the rise in energy costs and the pollution levels and the changing role of the governments in environmental protection. In the technological environment, the marketing manager should take into consideration the fast emerging rate of technological change, opportunities for innovation and the rise in governmental regulation brought about by the technological changes.
Finally, in the political-legal environment, the marketing manager must work according to the many laws regulating business practices and with various special interests groups. 4. Connecting with customers Customers are very important as far as buying of the product and creating its goodwill are concerned. However, a marketing manager should consider how to best create value, satisfactionand loyalty for its chosen target markets and develop strong, long-term relationships withcustomers.
Customers are said to be value-maximizes and they form an expectation of value and act on it. Marketing manager should be able to know how to satisfy its customers as customers will prefer to buy from those firms that they perceive to offer the highest customer-delivered value which is defined as the difference between total customer value and total customer cost. Moreover, a marketing manager should aim for total consumer satisfaction both as a goal and marketing tool as
Cite this Role of Marketing Manager in Corporate Buisness World
Role of Marketing Manager in Corporate Buisness World. (2017, Jan 28). Retrieved from https://graduateway.com/role-of-marketing-manager-in-corporate-buisness-world/