Marketing is all around – we are exposed to marketing in almost everything we do. As a result, everyone and every organisation seem to have an intuitive understanding of what marketing is all about: marketing is about selling, advertising, and promotion. So it’s just common sense.
But is this really true? Is that what marketing all about? Do you really understand the marketing management process? These are the questions which we will address and debate in this programme.
Marketing is far more than just advertising and promotion; it is first and foremost an organisational culture and philosophy that has customers at the centre of an organisation’s strategies and business processes.
It is also the strategic analysis of the market environment, including customer, competitor, company, context and collaborator, and then also the strategic execution of segmentation, targeting and positioning, followed by a set of specific strategies in areas such as product, pricing, place (distribution), promotion and people.
Strategic marketing management is a powerful organisational practice and process to best reach and satisfy customers while increasing long-term profitability and productivity. It will also help a business become more innovative and better penetrate a market, and hence achieve desired growth.