Assignment Writing Help on Marketing Management Concepts

Marketing Management Concepts

Considering the developments in the larger global market it is prudent for organizations to develop innovative marketing management strategies that would enhance achievement of their goals of making profits. This entails employment of various theories, processes, concepts and/or practices of marketing management. In my view, the best practices in establishing a reliable marketing strategy for present and future competitive advantage of businesses include using theories such as The Game theory; this theory assumes that businesses are hyper intellectual utility maximizers in which rationality implies that, these organizations strive to achieve the most preferred of outcomes despite restraints of their rivals behaving in a similar fashion. A coherent organization would therefore conquer the uncertainties emanating from the behavior of their competitors by creation of competitor conjectures. In this respect, intellectual organizations would wear the shoes of their rivals and reason from their perspective. This would create a better understanding of the rivals and counter their strategies by going ahead of them. Other theories that would strengthen the game theory and provide present and future business advantage and employments in the organization include Signaling theory, Innovation, product quality, market share, and market pioneering as well as market orientation (Tadajewski, 198).

Although traditional value-added marketing processes still play a vital role in development of the marketing functions, marketing managers need to focus their attention on new processes and capabilities. Businesses ought to create efficient time to develop and master more advanced marketing processes by improving the efficiency of the marketing function and by repositioning resources, and aligning them in more strategic positions produce greater value. These processes need to be updated and customer centered in order to achieve higher returns on investment for present and future developments (Tadajewski, 198). Among the highest value marketing processes in the real world that would improve marketing functions include; Marketing Operations management to regulate on the complexities of the developments in the marketing functions such as media interactions, Marketing visibility, accountability and value measurement through the use of tactical bids as e-marketing activities and developing systems to enhance accountability in the larger globalized marketing function, Customer and Market insight generation and Customer-value-based network management to envision a competitive environment. Other most prominent and equally important marketing processes include formulation of business Mission, Conducting Situation Analyses, settling on Specific Objective and Strategy Evaluation before setting off. These help in streamlining business operations in systemic manner to save on time and operation costs and enhance development of reliable systems within the business development strategies (Wilkie & Moore, 288).

On top of the strategic approaches already mentioned, measure should be put in place to identify and satisfy customers as a model of achieving the business goals. These overtures are referred to as sales concepts and practices. These concepts majorly determine how products would perform in the entire industry. They include; Production concept which regulates the production cost in order not to market products with unacceptable prices to the customers, Product Concept in determining the quality of the goods and services to enhance acceptability by the society and increase sales as well as profit margins, the selling concept, marketing concept and societal marketing concepts which also play very crucial roles in improving product awareness and sales hence business growth. Managers should optimize their lead processes, Run and measure campaigns and develop reliable and practical business strategies (Wilkie & Moore, 288).

Works Cited

Tadajewski, M. (2009). Eventalizing the Marketing Concept. Journal of Marketing Management, 25(1–2): 191–217.

Wilkie, W.L. and Moore, E.S. (2006). Macromarketing As a Pillar of Marketing Thought. Journal of Macromarketing, 26(2): 224–321