The scope and importance of marketing management – The Importance of Marketing The first decade of the 21st century challenged firms to prosper financially and even survive in the face of an unforgiving economic environment. 1. Distribution Of Goods and Services Approach. These activities define the broad scope of marketing and their balanced integration within a marketing plan is known as the marketing mix. Marketing is enveloping trend in modern competitive world as it contributes greatly for the productivity of firms. Marketing is the process used to determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development (Kotler et al. Marketing management is the organizational discipline which focuses on the practical application of marketing orientation, ... scope of work, incentive compensation, ERFx's and storage of agency information in a supplier database. Nature and Scope of Marketing. According to this approach, marketing includes all those activities which are involved in the flow of goods and services from producer to consumer in the process of distribution. 1996). Marketing is playing a key role in addressing those challenges. Marketing is a huge field but still, when we try to go into the depth we understand the scope of marketing is very large. Transport Management includes packing, warehousing, and transportation by rail, road, and air.. Distribution Management includes marketing, market research, price-determination, taking market­ risk and advertising, publicity, and sales promotion.. Office Management includes activities to properly manage the layout, staffing, and equipment of the office. It provides feedback; it regulates; and it exercises a restraining influence or a redirecting influence. Concept, Evolution and Scope of Marketing Management. Marketing has good scope and always been a trendy field, but as you are a M.E. graduate and want to go in automotive sector, then i think MBA (operations) will be better for you, also you can do your MBA from a specialized branch like logistics, port and shipping management, or oil and gas marketing. The nature and scope of marketing can be done under the following points. Following are scope for marketing which helps an organization to focus on their growth & profit. Marketing control involves gathering information on marketing performance and comparing the achieved performance against planned or budgeted performance, using predetermined standards and yardsticks. Marketing Management Definition. Marketing Control – Scope. Marketing Management, Chapter 1: Defining Marketing for the 21st Century Definition of Marketing According to American Marketing Association (2004) - "Marketing is an organisational function and set of processes for creating, communicating and delivering value to customers and for managing relationships in a way that benefits both the organisation and the stakeholder." Introduction • Main objective of any business organization is to satisfy the needs and wants of the society • Production or purchase is of no meaning if a firm is unable to market its goods and services • Marketing is the focal point of all business activities NATURE AND SCOPE OF MARKETING Unit 1 2. Reporting, measurement, feedback and control systems. Nature and Scope of Marketing – In Commercial Organisations and Businesses Marketing is a potential force that commands high significance for the society as a whole. 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