Friday, January 17, 2020
Main Issues and Trends That Affect Marketing
Main Issues and Trends that affect marketing management now days and how do they influence organizational planning. Marketing Management is a business discipline which is focused on the practical application of marketing techniques and the management of a firm's marketing resources and activities. Rapidly emerging forces of globalization have compelled firms to market beyond the borders of their home country making International marketing highly significant and an integral part of a firm's marketing strategy. Marketing managers are often responsible for influencing the level, timing, and composition of customer demand accepted definition of the term. In part, this is because the role of a marketing manager can vary significantly based on a business' size, corporate culture, and industry context. For example, in a large consumer products company, the marketing manager may act as the overall general manager of his or her assigned product. To create an effective, cost-efficient Marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate. In analyzing these issues, the discipline of marketing management often overlaps with the related discipline of strategic planning. The main issues and trends that affect marketing management are environmental problems, income gap, customer dissatisfaction, global competition, environmental deterioration, infrastructure neglect, economic stagnation, low labor skills and other issues. Some of these affect marketing management in a positive and negative manner, because they are problems and are considered opportunities. Marketing essentially is the creation and delivery of a standard of living to society. A market is a locus of trade: individuals or groups exchange anything, anywhere, anytime, to satisfy needs or wants. Most marketing managers have been satisfied analyzing their marketing plan using the classic Marketing Mix: Product, Price, Place, Promotion. With the advent of globalization in general, and the Internet in particular, marketing management must reevaluate these Four Ps, even converting to Four Cs to tackle the new challenges facing the old mix. I have realized that globalized market means that domestic companies can count on a much larger market potential for their goods and services; bad news is that they will face a greater number of competitors. Next, issue that I considered an issue that affect marketing management is environmental deterioration. Environmental deterioration presents countless opportunities to companies that can create more effective means of cleaning up the environment. Infrastructure neglect will provide huge opportunities for companies in the construction, transportation, and communication industries. Economic stagnation is another issue that is constantly affecting marketing management and the cause is its favoritism for companies that are good. Low labor skills are an issue and it promotes positive results in the business world because it challenges educational and training companies to design more effective programs for upgrading human skills. Last, although I have considered income gap issue as the first issue influencing organizational planning.