Marketing management

Assignment NO-1
N.sai yashwanth
121823603046
MBA-C

Definitions:
1) marketing is discovering what the prospect wants and demands and delivering it more
efficiently and effectively than the competition. Paul Kulavis – Managing Partner,
Sterling Park Group
2) marketing defined as a value-exchange, is a two-way exchange of value between a
marketer and a consumer by providing the right product or service to the right target
in the right state of need and by using the right vehicles for interaction and
purchase. As a conversation, marketing discovers and tells the right story about its
product or service that engages the consumer in an authentic conversation including
true listening, engagement, affiliation, and ultimately purchase. Gerry Lantzm –
Stories That Work, Inc.
3) Marketing is a strategic and tactical multifaceted process that supports sales as well
as customer service and retention. The primary stages include identifying target
audiences, developing a marketing/communications strategy that usually includes
several methods and channels (e.g. advertising, PR, content, events/digital print,
broadcast), measuring and assessing results, and constantly refining the process based
on learnings and marketplace developments. Marketing can also become a feedback
loop between an organization and its customers and prospects that helps to inform and
shape the business going forward. Rebecca Lieb, Author of The Truth About Search
Engine Optimization
4) Marketing defines the business opportunity, identifies profitable customers and
products/services that will meet customer needs, builds customer relationships, drives
customer demand and communicates corporate or product/services value.” Ann Z.
Marshman – Executive Director, TheLeadersCouncil.com
5) Marketing is the art and science of creating demand to drive profitable
growth. David W. Mischler – President, Altascend Consulting
6) Marketing is helping your customers understand how much they need something
they never knew they needed. Doreen Moran – Digital Strategist
7) Marketing is the art and science of persuading a potential buyer of a product/
service to purchase from a company that’s responsible for creating a compelling
message and communicating that message through targeted channels with enough
 reach and frequency to guide that potential buyer through the purchase cycle of
“attention, interest, desire, action.” Paul Mosenson President, NuSpark Marketing
8) Marketing is an integrated, multi-channel (online and offline), customer-centric
process used to define, segment, reach, and convince potential clients to purchase
your product or service, followed by analyzing the metrics to refine your strategy and
repeat the process as needed to optimize the ROI (return on investment). Sharon
Mostyn – Assistant Vice President, 1st Mariner Bank
9) Marketing is the unique opportunity to establish respect and a relationship with
your target audience in a way that compels them to become addicted to your products
or service, your support. Successful marketing is recognized at the precise moment
when your target consumer feels so strongly about your company they integrate you
into their daily routines and lifestyle. Jeanniey Mullen – Global Executive Vice
President, Chief Marketing Officer, Zinio and VIVmag
10) Marketing is strategic communications and promotions delivered in a mix of forms,
such as advertising, public relations, and direct marketing, through multiple online
and offline channels, to acquire customers, retain customers, increase share of wallet
and shorten the sales cycle. Valerie Oben – President, Foxboro Consulting Inc.
11) Marketing is the ongoing process of engagement whereby strangers are nurtured
into advocates. Trey Pennington
12) Marketing is all activities designed to attract and connect customers with the
products and services they need. Includes inbound and outbound marketing tactics
across all channels – one-to-one and one-to-many. Ideally, marketing fosters a long-
term relationship, includes the entire customer brand experience – i.e. support and
customer service. Marketing starts with the design of the product itself and extends
through post purchase. Patrick Prothe – Marketing Communications
Manager, Viewpoint Construction Software
13) Marketing strives to connect a product or service with a market for that product or
service. Michael Puican – Associate Director of Corporate Training, DePaul University
14) Marketing is identifying the pain points of your customers, developing content and
processes to best solve those pain points – which ultimately makes it easier for your
customers to buy or stay customers. Joe Pulizzi – Founder,content marketing
institute(Disclaimer – I write for the Content Marketing Institute.)
15) Marketing is about focusing efforts to develop deep insights into customer behavior
and overall market conditions to drive sustainable profitable growth for the
company. Humphry Rolleston
16) Marketing is deciding how to offer something specific customers crave and then
engaging customers and other stakeholders to create preference. Ken Rosen –
Managing Partner, Performance Works
17) Marketing is the ability to communicate a message to your audience and soliciting a
response from them. This response can take the form of a positive impression of your
company brand, an urge to purchase an item, to reach out to your company for more
information or even spread your message to others. And no matter what the desired
response is, marketing should always map it back to your overall business
objectives. Cece Salomon-Lee – PR Meets Marketing
18) Marketing is the combination of messages and programs (the 4 P’s–
product/packaging, price, placement and promotion) that drive shoppers to choose
your product or service over someone else’s. Charlene Samples – Director of
Marketing, Heartland Sweeteners
19) Marketing is traditionally the means by which an organization communicates to,
connects with, and engages its target audience to convey the value of and ultimately
 sell its products and services.  However, since the emergence of digital media, in
particular social media and technology innovations, it has increasingly become more
about companies building deeper, more meaningful and lasting relationships with the
people that they want to buy their products and services. The ever-increasingly
fragmented world of media complicates marketers’ ability connect and, at the same,
time presents incredible opportunity to forge new territory. Julie Barile – Vice
President of eCommerce, Fairway Market
20) Marketing includes research, targeting, communications (advertising and direct mail)
and often public relations.  Marketing is to sales as plowing is to planting for a farmer
—it prepares an audience to receive a direct sales pitch. Mary Ellen Bianco –
Director Marketing & Communications, Getzler Henrich & Associates LLC

Answers:
1) Great marketing plans are built on a foundation of goals that represent your most pressing
business needs. But how do you define the right goals? It turns out that there are many
common objectives across business types. In my 30 years of building marketing plans, these
are the goals that consistently underpinned the most successful outcomes.
a) Increase sales
b) Generate leads (or opportunities)
c) Acquire new customers
d) Reduce churn (or retain customers)
e) Up-sell and cross-sell
f) Improve awareness

2) In many companies, marketing departments turn into a kind of catch-all: they do

lots of tasks that in most cases are not related in any way to each other.

A common situation is that a task arrives to the company and this question arises:

 Would this correspond to the purchasing department? No.

 Would this correspond to the sales department? No.
 Would this correspond to the accounting? No.
 Then this must be a task for the marketing department.

However, a company without a marketing department or at least a department in charge of

marketing is unconceivable. All companies are being aware that they need to get their
message to the client through the marketing department.

If it’s that important, how come ends up being a ‘does it all’ department? What are the real
duties of a marketing department?

In this post you'll find 10 tasks that are the responsibility of the marketing department. All of
them have a crucial importance in ensuring the survival of your company.
a) Listening to customer needs

b) Track trends and monitor competition

c) Work and transmit brand values

d) Coordinate efforts with those of the marketing partners of the company

e) Innovate

f) Communicate with the rest of the company

g) Help improve sales processes and customer

h) Manage marketing budgets

i) Calculate the ROI (Return Of Investment) of the company’s actions

j) Define strategic marketing plans

3) Any organization uses different methods and innovative ideas to attract customers
and to grow the share of customers and to retain these customers for a long period
of time. The firms compete with other firms in order to acquire these organizational
goals which are important for a profitable business and in order to survive in the
long run.so,i agree that goals of marketing can be simplified to GET,BUILD,HOLD

4) Purpose of marketing apart from customer goals are

a) Engage with Target Audience

b) Drive Traffic, Leads, and Sales
c) Build Brand Awareness
d) Prove Industry Expertise
e) Transform your Marketing

5) Marketing is based on thinking about the business in terms of customer needs and their
satisfaction. ... In other words, marketing has less to do with getting customers to pay for
your product as it does developing a demand for that product and fulfilling the customer's
needs.