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Market Analysis:
This comprises of looking into the company’s activities that have occurred in the past, on-going and the future. Stress is laid on the future tasks since the marketing manager is keen to explore information pertaining to the competitive social-economic and political environments. He uses the S.W.O.T analysis in order to ensure the strengths and weaknesses of the market analysis the threats and opportunities within that market. The evaluation of the growth, trend, distribution channels and the market size as well as the cost is also a part of their job.
Marketing Plan
Once the market has been analyzed then the managers come up with the marketing plan. This expands the company’s agenda for the market and how far it can go to meet the objectives based on the company’s mission. They need to consider the product itself along with its placement and pricing, including the packaging of the product. The people who would be involved in the whole plan and the promotion of the product form an integral part of this stage of the marketing management.
Market Implementation
Once the evaluation and planning has been endorsed it is now considered as the marketing implementation phase. Stress is laid on the timings of each activity and adjusting situation wherever necessary. You can consider the examples of coupon promotions and email marketing as part of marketing implementation stage.
Market Control
At this stage the marketing managers have to take control of the situation and see where the success or failure of the company lies. They use measures to evaluate the success of the campaign and use surveying and feedback strategies to analyze their implementation.
The role of the marketing manager is very important in the whole management phase. The principles begin and end with the efforts of the manager. The workload of the marketing managers is twice as much as the employees working under him because technically his work hours are40 per week and he needs to monitor the campaign inside out. Usually he is an experienced professional with a strong academic background in business administration.
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