We define marketing management as the analysis, planning, implementation, and control of programs designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Thus, marketing management involves managing demand, which in the turn involves managing customer relationships.
Demand Management
Most people think of marketing management as finding enough customers for the company's current output, but this is too limited a view. The organization has the desired level of demand for its products. At any point in time, there may be no demand, adequate demand, irregular demand, or too much demand, and marketing management must find ways to deal with these different demand states.
Marketing management is concerned not only with finding and increasing demand but also with changing or even reducing it. For example, Disney The world is badly overcrowded in the summertime, and power companies sometimes have trouble meeting demand during peak usage periods. In these and other cases of excess demand, the needed marketing task, called demarketing, is to reduce demand temporarily or permanently. The aim of demarketing is not to destroy demand, but only to reduce or shift it. Thus, marketing management seeks to affect the level, timing, and nature of demand in a way that helps the organization achieve its objectives. Simply put, marketing management is demand management.
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Marketing Management