Defining marketing in 21st century

MARKETING MANAGEMENT

ANALYZED BY JAGADISH

Q) How is marketing important ?

in today's 21st century marketing is becoming the backbone of companies। even though we see financial officers becoming CEO this trend can change in near future। for the simple reason being without cmo or marketing wing the company cannot run। one may argue that cfo help in making financial decisions and allotment of money is important for a company। but one has to see that even after financial allocation cfo stills depends upon revenue generation. this means he has to go back to marketing wing to generate revenue . without marketing wing financial wing cannot survive. but without financial wing marketing can survive.

Q) what is the scope of marketing ?

The state of the environment in which a situation exists copied from wordweb i define scope as jurisdiction beyond which marketing is not tied up। what can be the scope of marketing jagadish says their are 2 things beyond which the scope of marketing ends. one is financial monetary aspect the other is non monetary or case analysis of marketing problems.

Q) what are some fundamental marketing concepts ?

some fundamental concepts coined by jagadish concepts are

spiritual marketing concept : under this concept companies help each other in developing strategies for each other and try to cooperate in developing competition and cooperation in their respective industries

the basis of foundation of this concept would be on 3 layers

trust

2 perfect relationship management

3 participative marketing management

perfect relationship management : it can be defined as something when 2 or more parties come together and think for on behalf of their companies and come out with better solutions either through collaboration or through cooperation

collaboration : this is defined as 2 or more companies considered competitors in the market, come together to solve industry problems

perfect relationship management : a relationship where companies 2 or more join hands together for a common cause

trust : it is something which binds people together without arousing resentment while working with each other

participative marketing concept : it is a conceptual tool to determine the complementors, competitors for the company and help company to provide solutions to the existing problems in the industry it represents

job entry : any entry made by the employee on the job that she has been enrolled while joining at the first date in the company

job enhancement : any job which is done by an employee which enhances the reputation of the employee and the company is job enhancement

job rotation ; any job which an employee does on rotational basis by taking up different tasks in the company is job rotation

job enlargement : any job taken up by the employee of a company which is done in addition to the job he has been assigned to is job enlargement

job work: any job taken by the company employee is job work

brand : it is defined as something which personifies the personality of the product of the company it represents

product : anything which highlights the companies inner strength is called as product marketing : meeting needs profitably

needs : anything which satisfies the normal desires of a person is called as needs

want : anything which satisfies the entire portion of desires either fully or partially which can also be future desires of a person is called as want

private label : any product designed by the retail industry segment not in tie up with the companies is called as a private label

Q) how has marketing management changed ?

It can be seen that retail segment has come up with private labels in competition with company products marketing management has become a commonsense approach। it is through commonsense that problems are being solved through case studies। if you take into consideration premier management schools case study analysis commonsense has become the sole moto in solving current and future problems on the basis of secondary data।

Q) what are the tasks necessary for successful marketing management ?

in to days scenario trust , commitment and truth have become the foundation on which necessary marketing management principles are based upon

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