Discuss the four functions performed under marketing managem

Discuss the four functions performed under marketing management (1) Analysis (2) Planning (3) Implementation (4) Evaluation and Control.

Solution

Product example : Automobiles

1) Analysis:

It is very important to understand the market, There are certain elements like percapita income, percentage of rich people, Intrest rates and also GDP growth to understand market well. If you are talking about very poor country probably you wont be able to sell much of anything.

2) Planning:

Planning is very important, How would you like to promote your product, Is it through ad-campaigns, Direct customer interaction or through street to street campaign or autoshows, tradeshows

3) Implementation:

It is very important to find necessary funds to implement the plan, Resources are always scarce and they must be put to good use.

4) Evaluation and control:

We must evaluate the impact of our campagin, Weather or not it is recieved well by customers, What is the sales growth by the effort. If there is no use from say trade shows we must cut the spending by not attending trade shows anymore.