Marketing Management
What is marketing management?
Marketing management is the process of analyzing a brand’s marketing opportunities, and using that information to direct, plan and organize marketing activities. Its goal is developing marketing strategies and campaigns that strategically target potential customers to increase organizational profits. This includes managing marketing costs and resources, assessing customer satisfaction levels, understanding market trends and developing effective marketing campaigns.
What does marketing management involve?
The process of marketing management helps businesses meet their short-term marketing objectives while overall increasing sales and improving customer relationships. In order to successfully manage their marketing efforts, brands and individuals must have an understanding of their target audience’s needs, the competitive landscape and how best to reach potential customers.
To do this efficiently, marketing management involves activities such as:
Market research
Marketing communications and advertising
Product promotion
Pricing strategies
Marketing budgeting
Distribution channels
Examples of great marketing management
There are several brands who, over the years, have perfected the art of marketing management. We’ll run through some of those examples below and why they’re so successful:
Apple has a strong brand image, using a marketing management strategy that focuses on simplicity, elegance, and a high-end user experience. The brand’s marketing campaigns, such as the iconic "Think Different" ads, have helped establish them as a leader in the tech industry with a real competitive advantage. As a result, the company consistently releases innovative products that are highly anticipated by consumers.
Coca-Cola
Coca-Cola has a long history of successful marketing, including its iconic "Share a Coke" campaign which encouraged consumers to personalize bottles with their own names or those of their friends. The campaign used strategic marketing management to develop a creative that was built on current trends and consumer behavior. Distributed in all the right places on social media, it was successful in driving sales and building long-term brand loyalty.
Nike
Nike has built a powerful brand image through its "Just Do It" slogan, which inspires individuals to push themselves to their athletic limit. The company's marketing campaigns feature top athletes to grab the attention of target audiences and consistent messaging to keep them engaged. A consistent motivating tone draws in customers who resonate with Nike’s philosophy that anything is possible with hard work and determination.
Samsung
Samsung has successfully positioned itself as a leader in the technology industry through careful marketing management. With each product release, the brand proves to audiences that they place a strong focus on design and user experience. The company's marketing campaigns consistently showcase its products as essential tools for everyday life, while emphasizing their commitment to innovation.
McDonald's
McDonald's has a long history of successful marketing campaigns, including its "I'm Lovin' It" slogan, which has become synonymous with the brand. The company's marketing management strategy focuses on making sure customers perceive McDonald’s as a fun and welcoming place for families. With a strong focus on the brand’s universal image, McDonald’s menu offerings and promotions are always tailored to local markets.
Why is marketing management important?
Marketing management is beneficial for any business that wants to increase sales volume and build a strong brand image. By improving the effectiveness of a brand’s marketing strategies overall, marketing management contributes to the following broader business goals:
Improved brand awareness
Marketing management helps businesses build a strong brand image, increasing customer awareness of their products and services. It allows brands to foster an emotional connection with customers by using their marketing efforts to highlight the benefits of their offerings and the values that define them.
Increased profits
In order to facilitate more effective marketing strategies, marketing management helps brands think about attaining clear goals and the best way to reach the right customers. By understanding the target audience, developing marketing campaigns tailored to their needs and measuring marketing ROI, companies can maximize their marketing efforts and drive increased profits.
Improved customer relationships
Good marketing management can also improve customer relationships by providing audiences with a better understanding of the company's offerings, services and values. Through consistent research and feedback, businesses will gain valuable insight into customer needs and preferences and produce marketing strategies that meet those needs.
You may also be interested in:
What is involved in the marketing management process?
The marketing management process involves planning, executing and measuring your brand’s marketing campaigns. It should include some, if not all of the following steps:
Market research and customer surveys, including feedback from customer support teams
Setting goals and objectives
Marketing strategy research, planning and development
Media and ad selection
Overseeing budget
Marketing ROI measurement and analysis - for example an organization running content marketing strategies would need to track their content analytics
Main types of marketing management
There are types of marketing management specialties that businesses can focus on. Each comes with its own focus, responsibilities and goals:
Digital marketing management: This is the process of marketing products and services through digital channels such as websites, search engines, social media platforms and email campaigns.
Traditional marketing management: This refers to managing a brand’s traditional advertising methods such as television, radio and print advertisements.
Integrated marketing management: Integrated marketing combines digital, traditional and other marketing methods to create an omni-channel marketing strategy.
Relationship marketing management: This type of marketing management emphasizes customer retention and loyalty through building relationships with customers over time.
Social media marketing management: This involves leveraging social media platforms to reach potential customers and increase engagement and loyalty with them.
Marketing management resources for inspiration
Marketing management books we love:
Contagious: Why Things Catch On by Jonah Berger
Influence: The Psychology of Persuasion by Robert Cialdini
Made to Stick: Why Some Ideas Survive and Others Die by Chip Heath and Dan Heath
Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers by Geoffrey Moore
Marketing Management by Philip Kotler and Kevin Lane Keller
Online resources for Marketing management:
Industry events for Marketing management professionals:
Professional organizations:
Direct Marketing Association (DMA) Data and Marketing Association: https://dma.org.uk/
Marketing Operations Management Institute (MOMI)