What do you mean by marketing management? Explain its importance functions.

Explanation

According to Philip Kotler, “Marketing management is the analysis, planning, implementation and control of programmes designed to bring about desired exchanges with target markets for the purpose of achieving organisational objectives.
Importance of Marketing Management:
Marketing management has gained importance to meet increasing competition and the need for improved methods of distribution to reduce cost and to increase profits.The following are the other factors showing importance of the marketing management:
(i) Introduction of new products in the market.


(ii) Increasing the production of existing products.


(iii) Reducing cost of sales and distribution.


(iv) Export market.


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