Marketing Management – The ultimate guide

The term Marketing management, though popular today, has a history which dates centuries back. The first trading system which was adopted by humanity was the barter system – a thing for a thing. However, money was later on established and it became the basic of all transactions.

As population grew and societies were formed, we entered in an industrial era. At this point, factories were established which manufactured goods, and it was expected that consumers will buy whatever was being manufactured. At such a point, there was no concept like segmentation, differentiation etc. It was purely a need based market. The factory manufactured what it could. And the consumer bought what he got.

Slowly but surely, things changed. More and more people saw that they could become manufacturers and therefore earn more money out of it. This led to the industrial revolution. Now when there was competition between factories, factories began to push customers into buying their product through personal selling. Many sales men were hired to propagate one companies product over the others.

Finally, some manufacturers came up with the brilliant idea, that instead of pushing the product to the customers, we could pull them to us. And this led to the birth of marketing management. A singular concept which has spawned millions of ideas, and billions of jobs over the last few decades. It is because of marketing management, that we buy what we buy in this civilized world of ours.

What is the need of marketing management?

The simplest explanation I have heard about the need of marketing is from Seth Godin. Seth Godin says, that when you are crossing texas, there are so many cows that you will not notice any of them till it is a purple cow. Hence his book was titled the purple cow which concentrated on the role of marketing in today’s competitive environment. There are many sub roles of marketing management. However the main role is to get customers and build profit for the company through use of marketing interactive simulation.

Marketing was not being “managed” initially. It was never a science. In fact, different companies did different analysis and implemented different plans. But as marketing grew, people started analysing the results better and they came to know, that one thing worked better than the other. The likes of Philip Kotler, Michael porter and many such academicians began studying marketing. And thus, the art, science and commerce of marketing management regularly began being used in our competitive market environment.

To understand what marketing management does, we have to understand the various roles which fall under the umbrella of a marketing manager. Here are a few of them.