Key Aspects of Managerial Marketing - Coursework Example

Managerial Management Introduction Managerial marketing can be defined as the key spectrum for which an organization can wish to reach the most effective tools and can reach to the customers for making a purchase decision. It includes some key factors to understand the targets of the market the customers should know about the products that is going to launch in the market. The first and foremost important part in managerial marketing is to identify and to segment the group of the targeted customers. The customers can be defined in the following ways: Geography (the area or the locality they belong to), income level: (the annual income of the family, whether they can be afford the price of the product), Interest (whether the interest they have in that kind of the product which are going to be launched), other factors (it include the demand of the product, the quality etc). Once the customer get a fair idea about the product then it becomes easier to launch the product in the market. Another most important part is that the customers should be informed about the product by managerial marketing. Conveying the messages of launching the new products in the market is the most important part of the managerial marketing and it is also one way of communication tools of integrated marketing process. The needs can be chosen in both positive and negative sense. For example, it can be the attraction of the opposite sex or can be used in defining terms like bankruptcy. Concept related to the technology of managerial marketing Customer relationship management helps to measure the marketing concepts in all over networks. It also helps to make an analysis between the customers. It is the way for progress in the payments to the other related questions in the management. The aim of the CRM is to restore the data and then the data can be used in the future prospects. The modern environments of marketing requires for interacting with the other. The CRM tools are managed to improve or facilitate sales and it also help to support the interactions with the customers. As a result CRM is involved in every B2B market for the betterment of the technology that is being used in the markets. B2B and B2C are the systems which are not treated equally by the CRM. There are some characteristics of CRM are as follows: CRM is a feature that is fully customer oriented with all the service that is to be provided based on the customer inputs, one-to one customer solutions. It contributes in the sales promotion analysis and it also coordinate sales to the marketing in order for realizing sales force automation. This is the feature about the technology trends and the skills for delivering the values using technology for fulfilling the customer needs and to add up the information with the CRM solutions. Opportunity management is the feature that helps the company to manage the unpredictable growth and demand for goods to integrate the sales. Many characteristics in the B2B market stated that CRM is a factor which influences the business according to the needs of the market. The CRM network can be established and extended to increase the benefits of the market. In other way the B2B have the advantage of substituting the personal members of the network. This not only reduces the extra cost but also arrange some new contacts to make a speed of the network that have already being negotiating with the partners and B2B customers are more active than the B2C. A person with full of knowledge about the sales area will know the customer demand of the product (Graham and Harker, pp. 85-95). The market research and Ethics The basic role for a marketing research is the relation between the purchaser and the producer at the market place. It also helps in flowing of the information from the market or from the customers to the producer for the goods or service that are being produced in the market. There are three main players in the market research namely the producers, the customers, and the market researcher, who plays a very vital role in the market to establish ethical resources of the organization. The ethical decision can be made on the following decisions: The relationship between the researcher and the clients. There is a very good relation between the researchers and the clients who are doing the market research of a particular product or a service. Between the researcher and the marketing researcher industry. After collecting all the data the information should be maintained by the market researcher and make sure that the information should not be shared in any other purposes. This is the most important ethics of any marketing strategy to be followed by. The ethical problem in marketing can form conflicts and misunderstanding among the marketing researcher. There are some ethical issues in the market that are maintaining the privacy of the customer which is to be maintained strictly by the market researcher. If the information is conducted irresponsibly then a good customer will find a new producer and the goodwill in the market will get affected which can lead to a very serious issues. Selection of market is to discourage the demand in the market sectors there are full sized market and the undesirable market sector will be disqualified them altogether. There is another ethical issue that is related to the markets that are up coming in the developing countries. The publics are not very aware of the skill in the marketing techniques that are to be played. These ethical issues arrive when people are not doing their duties with responsibility. Codes of ethics The codes of ethics are the means to maintain high ethical standards in the business. The discussion of the top management has addressed some of the methods of the ethical issues. They can be followed the strategies like (1) first to examine all the problems of the ethical issues by the individuals, (2) to examine all the problems that are done by the marketing managers. The three most important parts is to be maintained by the market researcher those are: fairness, honesty and to be responsible. There are frequent conflicts between the corporate interest and the customer interest (Schminkle pp.111-115). Strategic positioning which refers to organizational vision, (strategic planning), the five Key forces influencing how organizations  The strategic planning is the result for managing, the long term future oriented process and the goal setting and the vision that are present in the capabilities of the organization. The planning is very comprehensive to address the business needs for carrying out the goal successfully to develop the mission because it is the team efforts which help to build the planning for the future needs for an effective use of it. The process itself is very useful than making the documents. Strategic Planning is an essential tool It determines the things that can be done in addressing the customer expectations. These are constantly challenged for managing the complex issues and the changing the problems with the limited sources that it can be provided by the market. The managers should always address the new technologies and the responsibilities with a reducing cost. The results are focused on the efficiency and the effectiveness of the operations that are to be done. Strategic planning is adaptable It takes a long approach to use a regular reviews and updates for checking the progress and the validity of the plan based on the strategic planning and it can be used as external and internal way as well. It can also be adjusted as necessary in changing the scenario and can provide guide for on-going operational and the capital plans budget. Strategic planning is planning for changing in increasingly complex environments The increasing demand for the products are reducing day by day on the resources bases and the expectation is high for service that are combine to form a very good environment. This planning is very much proactive and it can react to it simply. Strategic planning employee a common sense The planning is very much realistic which anticipates a future that is both desirable and yet achievable. It also provides a structure for inspiring the decision making and it is followed throughout the planning. Strategic planning is a part of quality management It helps to manage the future and to understand the disciplined effort to become an agency. This type of planning requires very large scale information for gathering an exploration of alternatives and can emphasize for the future implications of the decisions that are to be taken in the present. Strategic planning is not just developing the plans. It is something more than developing a plan. It involves managing the organizational strategy. The leaders should manage the organization so that the plans are implemented in the organization The implementation also requires motivation from the managers. It should address the success that after implementing the strategic planning the organization has achieved the objective of it. In another words, the performance is the evaluation system that is being carried out after achieving the desired results. It helps an organization to adjust the strategies, resources and the timing as a reminder for the organization (Steiner, pp. 150-165). Product planning The product planning is the most essential part of the organization. It uses four ways to evaluate the objective of the market. The first step is to understand the needs and the wants of the customers that the demand that they have for the particular product. The second is to understand the opportunity they have achieved by doing a market research that is to be conducted and take the feedback from the customers. The third stage is to design the launch of the product that is the place and the time. Last but not the least the fourth stage is to have proper knowledge about the demand of the product that are to be launched in the market. Distribution planning It is a method that is used to distribute the product or services through various modes of channels from the producer to the distributors (end-users). The logistic is the process that how you plan to make effort of your business. To maintain the flow of information a source of supply is required to make to take the information of the distribution. It also helps to make understand that how to plan and make schedule of the production. The place or distribution is a very important part of marketing as marketing is all about right price, right quality, right place, and the right time. Promotion planning Promotion is one of the most important tools in the marketing mix. In marketing it comprises of 4 P’s and that are the place, price, product and promotion. It is the process that is being used when a product is to be launched and the promotion is to be made for the advertising of the product. The basic need of the promotion is to provide information to the customers as well as the non-targeted customers. Promotion is to make brand promotion for any other any product which needs an advertising of the product (Clark, pp.55-59). There are some examples of the managerial marketing Viacom MTV and comedy is very good at social media as they use the awards to promote the social media networks of that particular TV channels. It has done lots of creative advertising to circulate in the web development. Viacom is premium global media brand that can compel the television programs and the other social network program. It helps the consumer products and the social media and the other entertainment for the audiences and it is now known in every part of the world. Ticket -master It is an American ticket sales and a distribution company. It has lots of operations in California. The competitors of the ticket master are Ticket-Force, Stub Hub, Vendini and many more. It has lots of branding and advertising done to make it the best in the USA amongst the all. It is the primary ticket seller of the country but has done lots of advertising for the best response from the customer and even given lots of discount to make market of the ticket master. Super Bowl Advertisement It is one of the best watched television channels in America and it has been widely used to the broadcasting of the media. It is well known to the American people. Super bowl is the advertisement which is very expensive in the sales as general motors and now it have been dropped the cost of buying at time. The super bowl advertisement is used widely in the America to broadcast the game which can be prevented internationally by the viewers from watching the game globally and it is the commercial advertisement in the USA (Banker, pp. 95-100). Conclusion This research paper discusses about the managerial marketing for launching a new a product and how a manager can convey the messages to their targeted customers. To do a depth research for launching the product to the market, the research is related with the annual income, the interest on the product and the other interests which can include the demand, the quality of the product and so on. It also describes the strategic planning of the organization, as it is not only doing planning for the organization rather it is much more than anything. It also helps in the future to understand the discipline of the organization and to guide the efforts of the organization that is given by the market people. The planning requires a very large range of information to understand the organization and the information should be very much private those are taking from the customers. There are three ways to follow the discipline for maintaining the privacy like honesty, fairness, and responsibilities. The product planning is done to launch the product in a particular time and date so that it gets a good response from the customer and can be value driven to them. The product distribution is the process that is started from the producer than to the distributors (end-users) and it has to be done in right place with right time, along with right price with right quality with the customers. In the examples it has been used cases like Viacom, Ticketmaster, and super bowl advertisement to show the advertisement and the branding strategy. References Banker, P. 2010. Distribution. London: Pearson Education. Clark, B. K. 1991. Product Development Performance. New York: Harvard Business Press. Graham, P. and Harker, A. 1998. Marketing: Managerial Foundations. Bejing: Macmillan Education AU. Schminkle, M. 1998. Managerial Ethics. New Jersey: Psychology Press. Steiner, A. G. 2010. Strategic Planning. New York: Simon and Schuster. Read More