MARKETING MANAGEMENT AS A REALISTIC APPROACH
CHAPTER ONE
1.0 INTRODUCTION
Marketing has been viewed from different standpoints as being vital for the attainment of individual or corporate objectives. Since marketing deals more with satisfaction and exchange. It therefore becomes very essential that such marketing activities be properly managed to realize any defined objectives set either by individual or any given organization. In this chapter the writer will be looking into the relationships which marketing has with management. Various authors have different definitions but we want to consider the definition that is given by American Marketing Association (AMA) which sees marketing as the performance of business activities that direct the flow of goods and services to the consumers.
While management has been defined as the organization process that is involved in utilizing human and material resources of the organization for the purpose of accomplishing defined objectives.
Marketing management is defined as planning implementation and control of programmes with the target market for the purpose of achieving company goals. (1999) defined marketing management as the process of utilizing the management function of planning, organization, stating directing, leading, and controlling in the solutions of marketing problems.
1.1 BACKGROUND OF THE STUDY
The world in which we live in is very complex and therefore several efforts are being garnered towards finding solutions to human desire and aspirations the course that has contributed in no small needs of man is marketing. Marketing has therefore made bebut in understanding the behaviour of man and subserviently went ahead of find out those needs desire. Sequel to this, several organization has been developed to provide these needs of man. The sad thing about it is that most of these firms go into liquidation due to their inability to have sound management of their marketing outfit thus leading to collapse of either their product or even the extinction of the entire business.
Going by these anomalies into the business life cycle, this research work, “A realistic Approach of Marketing Management Towards Organizational Success”, was conducted for the operation of the business sector as a panacea to the longstanding problem.
1.2 STATEMENT OF THE PROBLEM
The world recognizes marketing management as a team work requiring combination of material and human effort towards the attainment of marketing objectives.
Thus, the major problems of this study include.
(i) Attempting to measure and anticipate the needs and wants of customers.
(ii) Developing products and services that meet the needs of the target market better than competitors.
(iii) Making the products and services readily available to potential customers.
(iv) Working to build long term relationships with satisfied and loyal customers.
1.3 PURPOSE/OBJECTIVE OF THE STUDY
- Analysis of prevail situation here, it tries to unveil what is on ground and what needs to be done to harmonizes expectation with result.
- Planning of marketing strategies here one looks at the available options vital for the realization of the market objectives.
- Implementation of marketing programs this state ensure that those strategies developed at the second stage are part to practical use.
- Control of Activities under this arrangement effort are made to ensure that objective set tallies with result obtained.
1.4 RESEARCH QUESTIONS
In this research study, the following questions are considered;
(i) What impact does marketing management cause on the success of an organization?
(ii) Can effective marketing Management achieve successful market acceptance of the organizations product?
(iii) Would emphasis on effective Marketing Management by employees enhance customers loyalty in the organization?
(iv) To what extent does effective marketing management contribute to organization success?
1.5 STATEMENT OF THE HYPOTHESES
A hypothesis is seen as a searchlight in every research endeavours. It gives the directive of investigation and guides the researchers in the selection of appropriate research tools. In the study, the following hypothesis have been formulated that:
- Hypothesis as a realistic approach of Marketing Management does not contribute toward organization success.
- Marketing Management is necessary to make marketing decision for the success of organization.
1.6 SIGNIFICANCE OF THE STUDY
This research study is significant in that it will:
(i) Create awareness on the role of effective and realistic approach of marketing management on organizational success.
(ii) It would generate information which will help managers to understand the concept of a realistic approach of marketing management towards organizational success.
(iii) The result of the findings of this project may help other researchers on the topic, as a source of reference.
(iv) Help business organizations to know the needs of effective marketing management, and how to adopt it to achieve growth and profitability.
1.7 ASSUMPTION OF THE STUDY
This study is based on the assumption that:
- The information or data collected from respondents would provide adequate and fair information to justify the validity of the study.
- The respondents would be independent and unbiased in the international the give.
- The respondents are true representatives at the population.
- The variables will remain constant throughout the period of study.
- The result of the study will provide solutions to the problem identified earlier in this study.
1.8 SCOPE AND LIMITATION OF THE STUDY
The study was specifically to cover marketing management as a realistic approach in Olympic Supermarket Environment and it is carried out with mostly on its relevance in the sustaining of business marketing management operation.
1.9 DELIMITATION OF THE STUDY
The research project will be limited to the marketing management Approach in organization and it productivity to the organization.
1.10 DEFINITION OF TERMS
Marketing has been viewed from different stand points as being vital for the attainment of individual or corporate objectives. Various authors have different definitions but we want to consider Association which seen marketing as the performance of business activities that direct the flow of goods and services to the customer.
MARKETING MANAGEMENT
Is defined as the planning implementation and control of programmes designed to create, build and maintain mutually beneficial exchange relationship with the target market for the purpose of achieving company’s goals.
MARKETING
Is said to be the performance of business activities that direct the flow of goods and services from the point of production to the point of consumption.
ORGANIZATION
This involves developing unique and favorable image in the mined of the target publics for whom the organization is established particularly the customers both profit and non-profit organization utilize the service of marketing, to boost their image in demand for audiences and funds.
1.11 BIO-DATA OF THE OLYMPIC SUPERMARKET
