Under marketing management a marketing programme is prepared on the basis of needs, wants, tastes and fashions of the customers. It involves decision making in regard to pricing of the products, publicity, distribution and after-sales service. Thus marketing management is an action science consisting of principles for improving the effectiveness of exchange. It represents professionalization in the carrying out of exchange relationships.
In recent times marketing management has become a self conscious craft. It is the analysis, planning, implementation and control of programmes designed to bring about designed exchanges for the purpose of personal or mutual gain. It relies heavily on the adaptation and coordination of product, price, promotion, and place for achieving effective response.
After knowing the scope of marketing let us discuss on the basic objectives of marketing.
(a) Provide satisfaction to customers
All marketing activities are directed towards customer satisfaction. Marketing starts with ascertaining consumer needs and produce goods that satisfy those needs most effectively. Not only that the pricing and distribution functions of marketing are also planned accordingly.
(b) Increase in demand
Through advertising and other sales promotional efforts, marketing aims at creating additional demand for their products. Satisfied customers also help in creating new customers. For example, if you buy a ‘gel pen’ and feel satisfied, next time also you will buy the same pen and obviously when you tell others about it they will also feel like giving it a try.
(c) Provide better quality product to the customers
This is a basic objective of marketing. The business houses try to update and upgrade their knowledge and technology to continuously provide better products. If they do not do so, they will be phased out through competition.
(d) Create goodwill for the organization
Another objective of marketing is to build a good public image and create goodwill for the organisation. This helps in maintaining loyalty to the product and accepting new products of the same company.
(e) Generate profitable sales volume
The ultimate objective of all marketing efforts is to generate profitable sales volumes for the business. Taking care of customer needs and wants by providing the required goods and services at prices they can afford, and at places and timing that are convenient to them ultimately lead to increased sales and profits.
