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Habefast | Blog
Marketing
13 June 2023

Marketing Management, how to optimize your company’s performance

Habefast Blog Marketing Management

Marketing management is an essential discipline for any company seeking to achieve its business objectives. It involves developing effective marketing strategies, planning, and implementing marketing tactics, and monitoring and evaluating results to ensure long-term business success. In this article, we will examine the key concepts of marketing management, including market understanding, market segmentation, brand management and strategic planning, and discuss their importance to businesses of all sizes and sectors.

Marketing management, definition

Marketing management is the process of developing, implementing, and monitoring marketing strategies and tactics to meet customer needs and organizational objectives. It involves understanding the market, consumers, competition, market trends and emerging technologies.

Marketing management also involves the planning, organization, implementation and control of all activities related to the marketing of the company’s products and services. This may include activities such as market research, product design, advertising, sales promotion, public relations and sales management.

A key aspect of marketing management is to develop an effective marketing strategy that meets the needs of customers and is consistent with the company’s objectives. This involves determining the target audience, the benefits of the product or service, the appropriate distribution channels and the relevant marketing messages.

Marketing management is also closely linked to brand management. Brands are important assets for companies, as they help to differentiate their products and services from those of the competition. Brand management involves developing a strong and consistent brand image, monitoring and protecting the brand’s reputation, and ensuring that the company’s products and services meet the quality and reliability standards associated with the brand.

Ultimately, marketing management is essential to the long-term success and growth of any business. By developing effective marketing strategies, building a strong brand image, and satisfying customer needs, companies can increase market share, improve profitability and ensure long-term success in an ever-changing marketplace.

Marketing management, the strategy

The strategy function defines the company’s vision, mission, and objectives, as well as the means to achieve them. The marketing strategy is a medium- and long-term action plan that aims to achieve the set objectives.

 

  1. The first step in the strategy function is to define the company’s vision and mission. The vision is the representation of the future that the company wishes to achieve, while the mission is the reason for the company’s existence. It is important that the vision and mission are clearly defined to enable the company to set consistent and achievable goals.
  2. The second step of the strategy function is the definition of the company’s objectives. It is important to define short-, medium- and long-term objectives to enable the company to set priorities and adapt its strategy according to the results obtained.
     3. Next comes the analysis of the company’s environment. It enables the company to understand market trends, customer needs and expectations, competing offers, technological developments, regulations in force, etc. The environmental scan helps to define the company’s strengths and weaknesses, as well as the opportunities and threats in the market.
    4. The next step is to define the company’s marketing strategy. It must consider the company’s vision, mission, and objectives, as well as the analysis of the environment. The marketing strategy should define the means to be used to achieve the objectives, considering the specificities of the market, the characteristics of the target audience, market trends and technological developments.
    5. The last step is to draw up an action plan to implement the marketing strategy. This action plan should specify the actions to be taken, the resources to be mobilized, the deadlines to be met and the people responsible for each action. It is important to define monitoring indicators to measure the effectiveness of the actions undertaken and to adapt the strategy accordingly.

In conclusion, the strategy function consists of defining the company’s vision, mission, and objectives, as well as the means to achieve them.

Marketing management, planning

The planning function in marketing management is essential for the success of any company. It enables the definition of the objectives, actions, and means necessary to achieve the desired results.

  1. Analyze the market

    Marketing planning starts with the analysis of the market and the definition of the needs and expectations of consumers. This step is crucial because it helps to understand market and competitive trends. It is important to know the characteristics of the target customers, their buying habits, preferences, behavior, and motivations. This analysis should also consider economic, technological, social, and environmental factors that may influence the market.

  2. Define the objectives

    Next, this step consists of establishing the objectives to be achieved. These objectives should be SMART (specific, measurable, achievable, realistic, and time-bound) to ensure their effectiveness. They can be related to different aspects, such as increasing turnover, broadening the customer base, increasing brand awareness, building customer loyalty, etc. 

  3. Establish the actions

    Once the objectives have been defined, planning involves establishing the actions and means necessary to achieve them. This stage may include activities such as defining the marketing strategy, segmenting the market, positioning the brand, creating offers adapted to customers’ needs, setting up advertising campaigns, managing social networks, etc.

  4. Include a monitoring plan

    Finally, marketing planning should include a monitoring and control plan to evaluate the effectiveness of the actions undertaken. This allows the results to be measured against the objectives set and decisions to be taken accordingly. The monitoring and control plan should also include corrective actions if necessary to adjust the marketing strategy.

In conclusion, the planning function is essential for successful marketing management. It allows the definition of the objectives, actions, and means necessary to achieve the desired results. Marketing planning must be carried out with rigor and precision to guarantee the company’s growth and customer satisfaction.

Marketing management, sales

The sales function is one of the most important functions of marketing management. It aims to sell the company’s products or services, using appropriate sales strategies and techniques.
  1. The sales function starts with the identification of potential customers, which can be companies or individual consumers. It is important to know the characteristics of these customers, their needs, expectations and buying habits to adapt the commercial offer.
  2. Next, this step consists of developing a sales strategy to achieve the objectives set. This strategy may include actions such as prospecting for new customers, commercial negotiation, customer relationship management, training of sales teams, etc.
  3. Commercial prospecting is the search for new potential customers using marketing tools such as mailings, telemarketing, social networks, etc. It can also be carried out by participating in sales events. It can also be done by participating in professional events, trade fairs, conferences, etc.
  4. Commercial negotiation is also crucial as it allows you to convince potential customers to buy the company’s products or services by proposing offers adapted to their needs and expectations. It is important to be familiar with negotiation and persuasion techniques to succeed at this stage.
  5. Customer relationship management is about retaining existing customers by providing them with a good service, responding to their needs and offering them personalized deals. Customer relationship management can also include actions such as order tracking, complaint management, loyalty programmes, etc.
  6. Finally, the sales function should be monitored and evaluated regularly to measure the effectiveness of the actions undertaken. It is important to analyze the results obtained in relation to the objectives set, to correct any errors and to readjust the sales strategy accordingly.

In conclusion, the sales function is essential and relevant to marketing management. It aims to sell the company’s products or services using appropriate sales strategies and techniques.

Management marketing, advertising

The aim of the advertising function is to promote the company’s products or services, to increase brand awareness and to attract new customers.
  1. The advertising function starts by defining an advertising strategy. This strategy must consider the company’s objectives, the characteristics of the market, the buying behavior of customers and the available budgets. The advertising strategy should also consider the different media used to deliver advertising messages, such as television, radio, print, social networks, etc.
  2. The creation of the advertisement is a crucial step in this function. It is important to design a clear, attractive, and memorable advertising message to capture the attention of consumers and encourage them to buy. Creative advertising must consider the objectives of the advertising campaign, the positioning of the brand and the characteristics of the target audience.
  3. The delivery of the advertisement is essential, and it is important to select the appropriate media to effectively reach the target audience
  4. Managing the relationship with advertising agencies is also an important function. Advertising agencies can be key partners in the creation and delivery of advertising messages. It is important to choose a competent agency and to define the objectives of the advertising campaign to achieve effective results.
  5. Finally, the advertising function should also be monitored and evaluated regularly to measure the effectiveness of the actions and to take strategic decisions if the objectives are not met.

To summaries, the advertising function aims to promote the company’s products or services, to increase brand awareness and to attract new customers.

Marketing management, innovation

The innovation function aims to develop new products or services, improve existing products or services, identify new markets, and adapt to market changes.

  1. Research and analysis of customer needs

    The innovation function starts with research and analysis of customer needs and expectations. This step helps to identify opportunities for developing new products or services, adapting existing products or services, and adapting to market changes. It is important to understand market trends, customer needs and expectations, as well as competing offers to propose innovative and competitive products or services.

  2. Develop products

    The design of new products or services is the development of innovative products or services. They must meet the needs and expectations of customers, be differentiated, and enable the company to stand out from the competition. The design must consider the specificities of the market, the characteristics of the target audience, market trends and technological developments.

  3. Define a strategy

    Setting up an innovation strategy is also an important step. It is important to define the objectives to be achieved, the means to be used, the budgets allocated and the deadlines for launching new products or services. The innovation strategy should also consider the risks and uncertainties inherent in any innovation process.

  4. Launch new products

    Finally, the marketing of new products or services requires first and foremost the definition of a launch strategy to promote the new products or services, to train the sales teams to enable them to better sell the new products or services, and to ensure regular monitoring of the results obtained.

Finally, the innovation function aims to develop new products or services, improve existing products or services, identify new markets and adapt to market changes.

Management marketing, social media

Social Media is about using social media to promote the company, its products, and services, and to interact with customers and prospects.

  1. Define a strategy

    The first step of the Social Media function is to define a communication strategy on social networks, which must consider the company’s objectives, the target to be reached, the communication channels to be favored and the tone to be adopted. Defining an editorial line is necessary to guarantee the coherence of messages published on social networks.

  2. Manage accounts on the social networks

    The second step is the management of social network accounts. The company must create and manage accounts on the social networks most adapted to its target (Facebook, Instagram, Twitter, LinkedIn, etc.). Interesting and engaging content should be published regularly to keep subscribers interested and attract new followers.
  3. Interact with customers

    It is then necessary to interact with customers and prospects on social networks. Indeed, social networks allow customers and prospects to easily communicate with the company, to ask questions, to make remarks or to give their opinion on the products and services offered. It is therefore important to respond quickly and effectively to these requests to maintain a good image of the company and build customer loyalty.

  4. Manage crisis

    The fourth step is crisis management on social networks, as they can also be used by dissatisfied customers to express their dissatisfaction. You need to manage these crisis situations with professionalism and responsiveness to limit the impact on the company’s image.

  5. Measure results

    Finally, measure the effectiveness of the communication on social networks, i.e. measure the engagement of subscribers, the number of shares, comments and likes to evaluate the effectiveness of the communication strategy on social networks. This data also allows the strategy to be adjusted according to the results obtained.

The social media function therefore consists of using social networks to promote the company, its products, and services, and to interact with customers and prospects. It requires a well-defined communication strategy, effective management of social media accounts, responsiveness, and professionalism in the face of crises, and regular evaluation of the effectiveness of the actions undertaken.

In conclusion, marketing management is a key discipline for any company seeking to succeed in a competitive market. It is a strategic process that involves identifying consumer needs and wants, developing products and services that meet those needs, promoting those products and services and selling them effectively. Marketing management also involves analyzing the competition, setting prices, managing distribution channels, and measuring results.