Marketing management is the organizational discipline which
focuses on the practical application of marketing orientation, techniques and
methods inside enterprises and organizations and on the management of a firm's
marketing resources and activities.
Marketing management employs tools from economics and
competitive strategy to analyze the industry context in which the firm
operates. These include Porter's five forces, analysis of strategic groups of
competitors, value chain analysis and others.
In competitor analysis, marketers build detailed profiles of
each competitor in the market, focusing on their relative competitive strengths
and weaknesses using SWOT analysis. Marketing managers will examine each
competitor's cost structure, sources of profits, resources and competencies,
competitive positioning and product differentiation, degree of vertical
integration, historical responses to industry developments, and other factors.
Marketing management often conduct market research and
marketing research to perform marketing analysis. Marketers employ a variety of
techniques to conduct market research, but some of the more common include:
Marketing managers may also design and oversee various
environmental scanning and competitive intelligence processes to help identify
trends and inform the company's marketing analysis.
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