Contents

1. what is market
2. marketing
3. management
4. marketing management
5. objectives
6. functions
7. advantages
8. process
 What is marketing
Marketing is the social process by which individuals and groups obtain what they need
and want through creating and exchanging products and value with others. Marketing is
essentially about marshalling the resources of an organization so that they meet the
changing needs of the customer on whom the organization depends. Marketing is the
process whereby society, to supply its consumption needs, evolves distributive systems
composed of participants, who, interacting under constraints - technical (economic) and
ethical (social) - create the transactions or flows which resolve market separations and
result in exchange and consumption. Marketing is not only much broader than selling, it
is not a specialized activity at all It encompasses the entire business. It is the whole
business seen from the point of view of the final result, that is, from the customer's point
of view. Concern and responsibility for marketing must therefore permeate all areas of
the enterprise.
 What is market
A market is any one of a variety of different systems, institutions, procedures, social
relations and infrastructures whereby businesses sell their goods, services and labor to
people in exchange for money. Goods and services are sold using a legal tender such as
fiat money. This activity forms part of the economy. It is an arrangement that allows
buyers and sellers to exchange items. Competition is essential in markets, and separates
market from trade. Two persons may trade, but it takes at least three persons to have a
market, so that there is competition on at least one of its two sides.[1] Markets vary in
size, range, geographic scale, location, types and variety of human communities, as well
as the types of goods and services traded. Some examples include local farmers' markets
held in town squares or parking lots, shopping centers and shopping malls, international
currency and commodity markets, legally created markets such as for pollution permits,
and illegal markets such as the market for illicit drugs.
In mainstream economics, the concept of a market is any structure that allows buyers
and sellers to exchange any type of goods, services and information. The exchange of
goods or services for money is a transaction. Market participants consist of all the buyers
and sellers of a good who influence its price. This influence is a major study of
economics and has given rise to several theories and models concerning the basic market
forces of supply and demand. There are two roles in markets, buyers and sellers. The
market facilitates trade and enables the distribution and allocation of resources in a
society. Markets allow any tradable item to be evaluated and priced. A market emerges
more or less spontaneously or is constructed deliberately by human interaction in order to
enable the exchange of rights (cf. ownership) of services and goods
 Management
Management is the process of getting activities completed

efficiently and effectively with and through other people.

 Organization and coordination of the activities of an enterprise in

accordance with certain policies and in achievement of clearly defined
objectives. Management is often included as a factor of production
along with machines, materials, and money. According to the
management guru Peter Drucker (1909-2005), the basic task of a
management is twofold: marketing and innovation. Practice of
modern management owes its origin to the 16th century enquiry into
low-efficiency and failures of certain enterprises, conducted by the
English statesman Sir Thomas More (1478-1535)

 Directors and managers who have the power and responsibility to

make decisions to manage an enterprise. As a discipline, management
comprises of the interlocking functions of formulating corporate-
policy and organizing, planning, controlling, and directing the firm's
resources to achieve the policy's objectives. The size of management
can range from one person in a small firm to hundreds or thousands of
managers in multinational companies. In large firms the board of
directors formulates the policy which is implemented by the chief
executive officer. Some business analysts and financiers accord the
highest importance to the quality and experience of the managers in
evaluating an organizations current and future worth.

.
 Marketing Management
Marketing Management is a business discipline which is focused on the practical
application of marketing techniques and the management of a firm's marketing resources
and activities. Rapidly emerging forces of globalization have compelled firms to market
beyond the borders of their home country making International marketing highly
significant and an integral part of a firm's marketing strategy.
 Functions
Management is considered an important part in any business or corporate industries. A
manager is someone who coordinates and oversees the work of others so the organization
goals can be accomplishes with no problems. Also, the term Management is refer to
group of people involved in the four general functions such as: Planning, Organizing,
Leading, Controlling and coordinating any source. Be advised that the four function of
management are throughout the organization and are highly integrated, the nature of how
the four function of management are carried out must changed to accommodate a "new
Paradigm". Every organization has to have goals, whether they are profit, market shares,
growth, and quality of products service, community image or any combination of these.
Any management can achieve and succeed goals through the coordinating performance
of these five specific functions: planning, organizing, leading, controlling, and
coordinating. Management comprises directing and controlling a group of one or more
people or entities for the purpose of coordinating and harmonizing them towards
accomplishing company wide, administration or department, or maybe even individual
goals for their companies. Management often encompasses the deployment and
manipulating of human resource, financial resource, technological resource, and natural
resource.
The verb manage comes from the Italian maneggiare (to handle – especially a horde),
which in turn derives from the Latin Manus (hand). The French word management (later
Management), influenced the development in the meaning of the English word
management in the 17th and 18th centuries (Wikipedia). Not only does management have
many functions of development but it also has different levels of management, such as
Top, Middle, Lower managements. Management has to do with many powers by position
and areas, whereas leadership involves power by influence. Therefore, organization,
coordination and controlling and other... .

Advantages
It is very much important in creating brand recognition and loyalty.
Marketing is related to four life-blood areas of business which are Product, Price, Place
and Promotion.
Marketing management researches for what type of Products are demanded, needed to be
designed and their scope in market
market

. They also decide the Price at which the Product would be attractive to consumers and
profitable to organization along with at which location (city or any area in city) the
product is needed to be available for effective sales and which channels of
transportation are to be used for effective availability.
Marketing management creates awareness of product among public, brand recognition
and loyalty can be developed through effective marketing and for that efficient marketing
management is required.
 Process
The Marketing Process Company is a management consulting company specializing in
marketing strategy development and business process change. The Marketing Process
Company's consultants have assisted a wide range of client firms around the world in
becoming market-led, customer-driven organizations.
The company aims to deliver enhanced business profitability through improved
marketing strategy and marketing plan development. The company's processes, systems
and software are robust, tried and tested in the real world, delivering real and ongoing
benefits to clients.
Objectives:-
• Goals or targets that must be achieved by
the marketing department in order to
achieve overall cooporate objectives.
• Marketing objecting are the aims set out
for the organization’s marketing
programme.
• Marketing objectives are about products,
sales and marketing only.
• To help motivates individuals.
• To provide a common goal.
• To enable a business to control a
marketing plan.
• To provide an agreed, consistant focus
for all functions of an organization.
• They should be defined in such a way
that actual performance can be compared
with the objectives.
• Short term targets for milestones with
defined measurable achievement.
• Objectives must be definable and
quantifiable so that there is an achievable
target at which to aim.
Bibliography:-

 www.tutor2u.com
 www.wikipedia.org
 www.slideshare.com
 www.advantage-management.com/
 www.blurtit.com