13 MKT3017 PRINCIPLES OF MARKETING MANAGEMENT International Journal of Retail & Distribution Management, Vol. Principle of Direction. Small-business marketing distribution requires practical skill and both financial and logistical efficiency. It   establishes link between various marketing activities viz. The basic principles of sales promotion are to create message content, appeals and sculpting the message. According to the principle of motivation, needs motivate people. Principle of Planning. Principle of Control. The product concept holds that consumers will favor products that offer the most … Read more about the basic principles of marketing at. The marketing field has changed dramatically in recent years in direct response to the way technology has affected the wider practice of management. For the effective and efficient growth of the firm, planning plays an important role in it. It is also the measurement and the comparison of the employee’s actual performance with the standards set. Under Graduate Degree,Diploma: Semester module: NQF level: 6: Credits: 12: Module presented in English: Module presented online: Purpose: Students will be able to demonstrate detailed knowledge of the core marketing management principles including the marketing environment, marketing research, consumer behaviour, segmentation, targeting and positioning as well as the marketing mix. Chicago : Science Research Associates, ©1986 As a result of proper research and development, the demand of the firms’ goods and services may be maintained in the market. Once completed, each campaign initiative must be distributed. Small-business marketing management requires a familiarity with specific target segments, what these consumers want and how to best reach them. Distribution involves the placement of ads in publications, the delivery of recordings to TV and radio stations, the hiring of personnel to hand out fliers, the arrangement of proofs for glossy magazines and so on. Essentially, strategic marketing management is the act of making strategic decisions within a marketing plan to better the plan. Morello is a professional writer and adjunct professor of travel and tourism. PRINCIPLES OF MARKETING •Marketing is human activity directed at satisffying needs and wants through exchange processes. We refer to them as four ‘controllable‘ categories. 256-271. While a good deal of small-business marketing management involves the creation of interest on the part of the consumer, it also involves ad creation and day-to-day operation of the marketing strategy. First Published: April 13, 2016 | Last Updated:June 28, 2017. For the effective and efficient growth of the firm, planning plays an important role in it. The process often starts with a few ideas written on paper, followed by a meeting with graphic artists or outside creative companies. Philip Kotler 1976 •Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. From here a back and forth of ideas and proofs lead up to the final result and distribution. Technology now affects virtually every facet of how organizations design, plan, execute, and measure their marketing efforts. Principle of Organization. According to the principle of direction, the marketing manager influences the action of his sub-ordinates to ensure that they perform their tasks according to the plans. Small-business marketing management does not end with the release of new campaigns. 4th Edition November 2008, Wiggin, E: Key Note Khalifa, A.S. (2011) "Three Fs for the mission statement: what's next? He also establishes relationships and responsibilities for the purpose of enabling people to work. Home » Marketing » Blog » Management Fundamentals » 12 Major Principles of Brand Management for successful Business Brand Management – In a situation where you are selling your product or service to many customers, it’s best to first connect all of them to a common platform, and then articulate clearly what’s there for each of them. Product Concept. Constant maintenance and adaptation is a principle of marketing management necessary to the continued success of any small business. Generally, all the principles of marketing are vital for distribution and advertisement. All these above efforts are created by the marketing manager to increase the demand for the products so that the sales may be increased. Efficiency. The principle of the 4P Marketing Strategy or Matrix is that marketing decisions tend to fall into four categories – product, place, price, and promotion. KEY NOTE (2008) Green and Ethical Consumer: Key Note Market Report. He graduated with a Bachelor of Arts from Columbia University in 2002 and has worked in travel as a guide, corporate senior marketing and product manager and travel consultant/expert. Since small businesses typically do not have the resources for the mass campaigns that large corporations develop, creativity in advertising is an important principle. which indirectly benefits  in the development of the organization. Principle of Co-ordination. © Copyright 2009-2019 GKToday | All Rights Reserved, Important Days & Events in Current Affairs. Principles of Marketing Management. Small-business marketing management is based on a set of principles that encompass tasks from planning to ad creation and long-term maintenance. The development of marketing plans is a key part of small-business marketing management. They are ‘controllable’ because our efforts affect them or their outcomes. 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