The modern concept of marketing holds that the key task of organization is to determine the needs wants and values of the customers and to adopt the organization to delivering the desired satisfaction more effectively and efficiently than its competitors. There are two key elements in this concept.
(a) Integrating the marking planning and control with those of other departments (like manufacturing, finance purchase, inventory control, personnel research and development) keeping in view the ultimate goal of customers' satisfaction. It may be noted that the customers expect satisfaction not only in terms of genuine and wholesome products and services but also several other considerations such as prompt and regular supply of production/services reasonable price, availability of efficient after sales service and so on.
"Marketing management is the analysis, planning, implementation and control of programmes designed to create, build maintain mutually beneficial exchanges and relationship with target markets for the purpose of achieving organizational goals."
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