QS Study

Marketing management means administration of the marketing role. In other words, marketing management is defined as the procedure of overseeing and planning new product development, advertising, promotions and sales. An example of marketing management is creating an advertising plan and implementing that plan. Thus the centre of marketing management is on achieving preferred exchange outcomes with the target markets.

Taking a management perspective, the term marketing has been defined as “the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals” by American Management Association, similarly Philip Kotler has defined Marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer values of management.

Marketing management commonly is related to the creation of demand. However, in certain situations, the manager has to restrict the demand.