MARKETING
Marketing
Marketing management is vital to a business’s ability to generate revenue, create a brand, and better understand its customer base. Marketing management works to ensure a company is profitable by gaining new customers, expanding a customer base, building a company’s reputation, and improving customer interactions. Some essential marketing functions of marketing management include managing, analyzing, and aligning with a company’s goals.
Marketing management aims to provide cohesion and direction for campaigns or other marketing efforts. It’s a data-driven, strategically planned system supervised by professionals working in marketing management.
The meaning of marketing management can vary based on an organization’s industry and marketing goals.
Common elements of marketing management
Common marketing management elements include setting goals aligned with marketing efforts, conducting research to understand target consumers, creating campaigns based on analysis and goals, and maintaining a brand’s reputation and recognition by engaging with customers. Marketing management professionals work with a company and its customer base, acting as a bridge between the two. To function as this liaison, they must be able to understand desires and needs, which requires a fair amount of research and analysis.
Goal setting
One of the foundational requirements for effective marketing is setting a goal. Here are some reasons why having a goal is important for marketing management
Keeps a marketing team on track
Easier to create and assign tasks to individuals
Helps measure the effectiveness of your marketing efforts
- Helps plot and plan marketing campaigns
Marketing goals can range from increasing sales by expanding the customer base to finding a niche market to engage customers better.
Learn about key performance indicators (KPIs), reports, and dashboards in this video from the Meta Marketing Analytics Professional Certificate