Hi I am interested in having the notes for the Nature and Scope of Marketing Management topic in the Marketing Management Subject for MBA course?

The reason for MBA Marketing Management Subject is to build up a comprehension of the hidden ideas, techniques and issues required in the promoting of items and administrations.

Marketing Management contains five modules to be specific Marketing Concepts and Challenges; Marketing Planning and Control; Marketing Mix, Understanding Customer and Marketing Information System; and Marketing Strategies. It investigates the accompanying subjects in detail; Social Marketing, Marketing Mix, Customer Value, Competitor Analysis, Consumer Behavior, Demand Forecasting, Market Segmentation, Targeting and Positioning.

MBA Notes - Nature and Scope of Marketing Management

Definition of Marketing Management
According to great Marketing guru Philip Kotler, "Marketing Management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target audiences for the purpose of personal and of mutual gain. It relies heavily on the adoption and coordination of product, price, promotion and place for achieving responses.".

Nature of Marketing Management

It Combines the Fields of Marketing and Management

As the name suggests, promoting administration consolidates the fields of showcasing and administration. Advertising comprises of finding purchaser needs and needs, making the products and enterprises that address those issues and needs; and evaluating, advancing, and conveying those merchandise and ventures. Doing as such obliges thoughtfulness regarding six noteworthy territories - markets, items, costs, spots, advancement, and individuals.

Administration is completing things through other individuals. Supervisors take part in five key exercises - arranging, sorting out, staffing, coordinating, and controlling. Showcasing administration infers the combination of these ideas.

Promoting Management is a Business Process

Promoting administration is a business procedure, to oversee advertising exercises in benefit chasing and non benefit associations at various levels of administration, i.e. supervisory, center administration, and official levels. Promoting administration choices depend on solid information of advertising capacities and clear understanding and use of supervisory and administrative systems. Showcasing chiefs and item directors are there to execute the procedures of advertising administration. We, as clients, see the aftereffects of such process as items, costs, commercials, advancements, and so forth.

Advertising Management is Both Science and Art

"Advertising administration is workmanship and exploration of picking target showcases and getting, keeping and developing clients through making, conveying and imparting unrivaled client esteem." (Kotler, 2006). Promoting administration is a science since it takes after general rule that aides the advertising administrators in basic leadership. The Art of Marketing administration comprises in handling each circumstance in an inventive and viable way. Advertising Management is along these lines a science and in addition a workmanship.

MBA Notes - Marketing Process