{"id":7992,"date":"2021-10-12T22:45:51","date_gmt":"2021-10-12T11:45:51","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=7992"},"modified":"2021-10-12T22:59:01","modified_gmt":"2021-10-12T11:59:01","slug":"why-is-marketing-management-important-case-study-help","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/why-is-marketing-management-important-case-study-help\/","title":{"rendered":"Why Is Marketing Management Important? &#8211; Case Study Help"},"content":{"rendered":"<h2><strong>\u00a0Why Is Marketing Management Important\u00a0 for Business?<\/strong><\/h2>\n<blockquote>\n<p style=\"text-align: justify;\">Marketing management is of importance as\u00a0it helps to stand competent in highly thriving competition in the market.\u00a0 Our MBA writers are field experts and can provide excellent online <a href=\"https:\/\/casestudyhelp.com\/mba\/marketing\/\" target=\"_blank\"><strong>Marketing Assignment Writing Help Services<\/strong><\/a> to stressed ones. Casestduyhelp.com Experts No.1 <a href=\"https:\/\/casestudyhelp.com\/mba\/marketing\/marketing-management-assignment-help.html\" target=\"_blank\"><strong>Marketing Management Assignment\u00a0Topics<\/strong><\/a> Provider for Students in Australia, UK, USA, UAE and other countries. Hire our Experts Today and Getting an A+ Score grade with a 100% satisfaction guarantee.<\/p>\n<\/blockquote>\n<p style=\"text-align: center;\">\u00a0<a title=\"Order Now!\" href=\"https:\/\/casestudyhelp.com\/MyOrder.php\" target=\"_blank\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-7264\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/05\/need-assistance.jpg\" alt=\"need-assistance\" width=\"739\" height=\"75\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/05\/need-assistance.jpg 739w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/05\/need-assistance-300x30.jpg 300w\" sizes=\"(max-width: 739px) 100vw, 739px\" \/><\/a><\/p>\n<h2><strong>Discussion Questions #1<\/strong><\/h2>\n<ol>\n<li>What is the definition of marketing?<\/li>\n<li>What can be marketed?<\/li>\n<\/ol>\n<h2><strong>What is Marketing?<\/strong><\/h2>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/what-is-marketing.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter  wp-image-7993\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/what-is-marketing.jpg\" alt=\"what is marketing\" width=\"439\" height=\"439\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/what-is-marketing.jpg 600w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/what-is-marketing-150x150.jpg 150w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/what-is-marketing-300x300.jpg 300w\" sizes=\"(max-width: 439px) 100vw, 439px\" \/><\/a><\/p>\n<p>Ask the average person, &#8220;What is marketing?&#8221; and they might say:<\/p>\n<ul>\n<li>&#8220;Marketing is sales and advertising.&#8221;<\/li>\n<li>&#8220;Marketers make people buy stuff they don&#8217;t need and can&#8217;t afford.&#8221;<\/li>\n<li>&#8220;Marketers are the people who call you while you&#8217;re trying to eat dinner.&#8221;<\/li>\n<\/ul>\n<h3><strong>Marketing Defined<\/strong><\/h3>\n<ul>\n<li>Marketing is defined as <strong><em>an exchange <\/em><\/strong>between a firm and its customers<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Defined.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-7994\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Defined.jpg\" alt=\"Marketing Defined\" width=\"300\" height=\"200\" \/><\/a><\/p>\n<h3><strong>What Can We \u201cMarket\u201d?<\/strong><\/h3>\n<h4>What is marketed?<\/h4>\n<ul>\n<li>Goods<\/li>\n<li>Services<\/li>\n<li>Events and experiences<\/li>\n<li>Persons<\/li>\n<li>Places and properties<\/li>\n<li>Organizations<\/li>\n<li>Information<\/li>\n<li>Ideas<\/li>\n<\/ul>\n<h3><strong>Marketing is Everywhere<\/strong><\/h3>\n<p>Figure 1.2 illustrates that you can market just about anything.<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-7995\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Market.jpg\" alt=\"Market\" width=\"600\" height=\"500\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Market.jpg 600w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Market-300x250.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/p>\n<h3>Evolution of Modern Marketing<\/h3>\n<h4><strong>Company Orientations <\/strong><\/h4>\n<ul>\n<li>Production orientation<\/li>\n<li>Product orientation<\/li>\n<li>Sales orientation<\/li>\n<li>Marketing\/ Customer orientation<\/li>\n<\/ul>\n<h4><strong>Production Orientation<\/strong><\/h4>\n<ul>\n<li><strong>Premise:<\/strong> consumers prefer products that are widely available and inexpensive.<\/li>\n<li><strong>Focus on:<\/strong>\n<ul>\n<li><em>High production efficiency<\/em><\/li>\n<li><em>Low costs<\/em><\/li>\n<li><em>Mass distribution<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><strong>Product Orientation<\/strong><\/h4>\n<ul>\n<li><strong>Premise:<\/strong> consumers favor products offering the most quality, performance, or innovative features.<\/li>\n<li><strong>Focus on:<\/strong>\n<ul>\n<li><em>Making superior products<\/em><\/li>\n<li><em>Improving them over time<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><strong>Selling Orientation<\/strong><\/h4>\n<ul>\n<li><strong>Premise:<\/strong> customers, if left alone, will not buy enough of the organization\u2019s products.<\/li>\n<li><strong>Focus on:<\/strong>\n<ul>\n<li><em>Aggressive selling and promotion efforts<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><strong>Marketing\/ Customer Orientation<\/strong><\/h4>\n<ul>\n<li><strong>Premise:<\/strong> find the right product for your customers.<\/li>\n<li><strong>Focus on:<\/strong>\n<ul>\n<li><em>Needs of the buyer<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><strong>Evolution of Modern Marketing<\/strong><\/h4>\n<ul>\n<li>Product\/production orientation\n<ul>\n<li><em>Focus on building a better gadget<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Sales orientation\n<ul>\n<li><em>Focus on convincing the customer that your product works best for them<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Customer orientation\n<ul>\n<li><em>Focus on identifying customers\u2019 wants BEFORE formulating attractive solutions<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2><strong>Discussion Questions #2<\/strong><\/h2>\n<ol>\n<li>Which orientation do you think would mostly likely lead to an exchange?<\/li>\n<li>Who do you think is responsible for marketing?<\/li>\n<\/ol>\n<h3><strong>Who Is Responsible for Marketing?<\/strong><\/h3>\n<ul>\n<li>Marketing and customer satisfaction is everyone\u2019s responsibility<\/li>\n<li>Marketing should permeate the firm\n<ul>\n<li><em>Accounting\/finance<\/em><\/li>\n<li><em>Sales<\/em><\/li>\n<li><em>Research and development<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Reasons to Measure Marketing Success<\/strong><\/h3>\n<ul>\n<li>Pressure to show results<\/li>\n<li>Ensure that the chief marketing officer (CMO) carries as much weight as the CEO, CFO, or COO<\/li>\n<\/ul>\n<h3><strong>Measuring Marketing Success<\/strong><\/h3>\n<ul>\n<li>Quantify results when possible<\/li>\n<li>Sometimes the effectiveness of marketing programs is easy to quantify\n<ul>\n<li><em>Did the coupon promotion lift sales?<\/em>\n<ul>\n<li>Measure the percentage sales increase, etc.<\/li>\n<\/ul>\n<\/li>\n<li><em>Did the direct mail campaign increase web usage?<\/em>\n<ul>\n<li>Measure the number of web visits, etc.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>However, sometimes the effectiveness is not easy to quantify\n<ul>\n<li><em>Was the segmentation study effective?<\/em>\n<ul>\n<li>Difficult to quantify<\/li>\n<\/ul>\n<\/li>\n<li><em>Did the advertising campaign increase sales?<\/em>\n<ul>\n<li>Difficult to quantify because great advertising is geared toward long-term brand building not short-term results<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Marketing Management Framework<\/strong><\/h3>\n<ul>\n<li>The 5Cs, STP, and the 4Ps constitute the marketing management framework<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Management-Framework.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-7996\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Management-Framework.jpg\" alt=\"Marketing Management Framework\" width=\"628\" height=\"194\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Management-Framework.jpg 628w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Marketing-Management-Framework-300x93.jpg 300w\" sizes=\"(max-width: 628px) 100vw, 628px\" \/><\/a><\/p>\n<h3><strong>5Cs<\/strong><\/h3>\n<ul>\n<li>Customer\n<ul>\n<li><em>The firm\u2019s current and potential customers<\/em>\n<ul>\n<li>What are current customers\u2019 preferences, buying trends, etc.?<\/li>\n<li>What are potential customers\u2019 preferences? Should they be targeted?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Company\n<ul>\n<li><em>The firm\u2019s capabilities, resources, etc.<\/em>\n<ul>\n<li>What does it do well? (Strength)<\/li>\n<li>What doesn\u2019t it do well? (Weakness)<\/li>\n<li>What customer benefits can we provide?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Context\n<ul>\n<li><em>Macro-environmental forces facing the firm<\/em>\n<ul>\n<li>What is going on politically or legally that might affect the firm?<\/li>\n<li>What is going on with the economy that might affect the firm?<\/li>\n<li>What trends are occurring in society that might affect the firm?<\/li>\n<li>What technological innovations might affect the firm?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Collaborators\n<ul>\n<li><em>The companies\/people firm works with<\/em>\n<ul>\n<li>Are these relationships strong? Can these relationships be improved or leveraged?<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Competitors\n<ul>\n<li><em>The companies\/people firm works against and how they compare to the firm in terms of resources, capabilities, customer preferences, reaction patterns, etc. <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>STP<\/strong><\/h3>\n<ul>\n<li>Segmentation\n<ul>\n<li><em>Grouping customers with similar needs<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Targeting\n<ul>\n<li><em>Pursuing segment who makes the most sense for the firm <\/em><\/li>\n<\/ul>\n<\/li>\n<li>Positioning\n<ul>\n<li><em>Communicating product\u2019s benefits clearly to the intended target<\/em>\n<ul>\n<li>Developed through the 4Ps<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Segmentation<\/strong><\/h3>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Segmentation.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter  wp-image-7997\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Segmentation.jpg\" alt=\"Segmentation\" width=\"710\" height=\"374\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Segmentation.jpg 833w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Segmentation-300x158.jpg 300w\" sizes=\"(max-width: 710px) 100vw, 710px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Targeting<\/strong><\/h3>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Targeting.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter  wp-image-7998\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Targeting.jpg\" alt=\"Targeting\" width=\"714\" height=\"470\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Targeting.jpg 753w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Targeting-300x198.jpg 300w\" sizes=\"(max-width: 714px) 100vw, 714px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Positioning<\/strong><\/h3>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Positioning.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-7999\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Positioning.jpg\" alt=\"Positioning\" width=\"577\" height=\"274\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Positioning.jpg 577w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Positioning-300x142.jpg 300w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/a><\/p>\n<h3><strong>4Ps<\/strong><\/h3>\n<ul>\n<li>Product\n<ul>\n<li><em>Goods or services customers need or want<\/em><\/li>\n<li><em>What should constitute your product mix? What features and benefits should comprise each product? <\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li>Price\n<ul>\n<li><em>How much should you charge given your costs, competitive pricing, and customer demand?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Place\n<ul>\n<li><em>How will you get the product into the customers\u2019 hands? Will you go directly to customers or use channel partners?<\/em><\/li>\n<\/ul>\n<\/li>\n<li>Promotion\n<ul>\n<li><em>What communications mix will you use to communicate with your targets? What message will you use?<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-8000\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps.jpg\" alt=\"4Ps\" width=\"401\" height=\"282\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps.jpg 401w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps-300x211.jpg 300w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps-350x245.jpg 350w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/4Ps-400x282.jpg 400w\" sizes=\"(max-width: 401px) 100vw, 401px\" \/><\/a><\/p>\n<h3><strong>Considerations<\/strong><\/h3>\n<ul>\n<li>The situation facing the company changes over time\n<ul>\n<li><em>Customer preferences change<\/em><\/li>\n<li><em>Competitors change offerings<\/em><\/li>\n<li><em>Government passes new laws, etc. <\/em><\/li>\n<\/ul>\n<\/li>\n<li>Firm must consistently monitor the 5Cs<\/li>\n<\/ul>\n<ul>\n<li>5Cs, STP, and 4Ps are interdependent\n<ul>\n<li><em>As contextual factor changes, what would the impact be on distribution channels? <\/em><\/li>\n<li><em>As a collaborator shifts their demands, what will that do to our pricing structure? <\/em><\/li>\n<li><em>As our company sells off a nonperforming function, what impact might that have on our positioning and customer satisfaction? <\/em><\/li>\n<\/ul>\n<\/li>\n<li>Marketers must understand the interdependencies<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Book Layout<\/h3>\n<p style=\"text-align: center;\"><a href=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Book-Layout.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter  wp-image-8001\" src=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Book-Layout.jpg\" alt=\"Book Layout\" width=\"730\" height=\"270\" srcset=\"https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Book-Layout.jpg 806w, https:\/\/casestudyhelp.com\/sample-questions\/wp-content\/uploads\/2021\/10\/Book-Layout-300x111.jpg 300w\" sizes=\"(max-width: 730px) 100vw, 730px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><strong>Flow of Each Chapter<\/strong><\/h3>\n<ul>\n<li>Each chapter covers the \u201cWhat,\u201d \u201cWhy,\u201d and \u201cHow.\u201d\n<ul>\n<li><em>What is the topic in this chapter? <\/em><\/li>\n<li><em>Why does it matter?<\/em><\/li>\n<li><em>How do I do this?<\/em><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3><strong>Managerial Recap<\/strong><\/h3>\n<ul>\n<li>Marketing can make customers happier and companies more profitable<\/li>\n<li>Marketing is about trying to find out what customers would like, providing it to them, and doing so profitably<\/li>\n<li>Marketing facilitates a relationship between customers and a company<\/li>\n<li>Just about anything can be marketed<\/li>\n<li>The marketing management framework\u20145Cs, STP, 4Ps\u2014will structure the book<\/li>\n<li>If you can remain customer-centric, you\u2019ll be five steps ahead of the competition<\/li>\n<\/ul>\n<script type=\"text\/javascript\" charset=\"utf-8\" src=\"http:\/\/w.sharethis.com\/widget\/?wp=6.2.9\"><\/script>","protected":false},"excerpt":{"rendered":"<p>\u00a0Why Is Marketing Management Important\u00a0 for Business? Marketing management is of importance as\u00a0it helps to stand competent in highly thriving competition in the market.\u00a0 Our MBA writers are field experts and can provide excellent online Marketing Assignment Writing Help Services to stressed ones. Casestduyhelp.com Experts No.1 Marketing Management Assignment\u00a0Topics Provider for Students in Australia, UK, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1417],"tags":[],"_links":{"self":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/7992"}],"collection":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/comments?post=7992"}],"version-history":[{"count":3,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/7992\/revisions"}],"predecessor-version":[{"id":8004,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/posts\/7992\/revisions\/8004"}],"wp:attachment":[{"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/media?parent=7992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/categories?post=7992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casestudyhelp.com\/sample-questions\/wp-json\/wp\/v2\/tags?post=7992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}