Question

Very Short Answer Question.
Outline the objectives of marketing management.

Answer 1

The objectives of marketing management are:

(i) Choosing a target market: A manufacturer may choose to make school bags for children up to the age of 10 years;

(ii) Creating customers in target market: In respect of the target market chosen, the focus of the process of management is on getting, keeping as well as growing the customers. That means the marketer has to create demand for his products so that the target customers purchase the product, keep them satisfied with the firm’s products and also attract more customers to the firm’s products so that the firm can grow; and

(iii) Creating superior value: The mechanism for achieving the objective is through creating, developing and communicating superior values for the customers. That means, the primary job of a marketing manager is to create superior values so that the customers are attracted to the products and services and communicate these values to the prospective buyers and persuade them to buy these products.