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Marketing Management Process encompasses:
- Information insights derived from Data Analytics
- Business Goal led Activity Planning & Implementation
- Activity implementation Review Processes
- Brand Health & Brand Performance Measurement
- Marketing Expenses Budgeting & Monitoring
The Marketing Management Process should be Annual, Quarterly & Monthly & needs to be updated on a weekly basis
At the start you set objectives, Identify your Problems & Opprotunities , design Strategies according to the objectives , Problems & Opportunities .
Finally you plan your tactics (who,what, when)
The updates mostly will be on your tactics and it will depends on the uncontrollable variables(as they are identified from the problems of your business)
first we have to be clear about our products and the customers we will attract, we have to weigh the projected profit and the service that we can give to the customers, in this case we can retain them. We have to update our marketing management process periodically to ensure that our marketing strategy will survive over a period of time. remember that market changes from time to time, we have to be in line with the changes to survive in the market.