25May 2021
Many businesses of which the owner takes the role of project manager, he or she may employ a person to take the position of marketing manager. This person will take care of market research, advertising campaigns and forecasting demand and supply. In bigger companies, the marketing manager is held responsible for the profit or loss of a specific product or service assigned to him or her. Smaller businesses will use third party partner companies to carry out marketing tasks.
Marketing management involves the tasks taken to roll out a marketing campaign, and the resources used to maintain current customers, and also gaining new customers. Marketing management also requires collaboration between other departments in the company, such as pricing, sales and finance operations.
Businesses are required to perform a thorough study of their target market, product development research before spending any of the pre-assigned marketing budget. The strategic planning department combines with the marketing department to carry out the three main types of analysis. These are known as competition analysis, company analysis and customer profile analysis. Customers are characterised by demographics, geographical location, patterns of behaviour, needs and desires.
The more you tailor your products or services to the desires or fears of your target market, the better your marketing campaigns will perform, and hence the more profits you will produce.
It is a wise idea to perform audits on your company’s branding, as this gives you a good picture of how your business is performing. When all this research is completed, the marketing manager will have a good enough knowledge-base in order to make good strategic conditions. The result will be an all round better profit in the long term, if not early on. The research will be time well spent.
That being said, there is a great way to be the manager of your own campaigns, rather that doing so only to make your boss or uppers rich and not you. It’s called the Commission Machine and it walks you through how to use email to earn what many big corporations do. Here is the Link if you fancy checking this out…