Marketing management class lectures_37366512-Marketing-Management-Muscat

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Marketing ManagementProf. Rajesh PandaSIBM, Pune.09/13/101What is Management Management is a practice of utilizing all availableresources to obtain a desired result. Management is necessary because A desired result must be established Someone must be delegated, or assume the authority,to obtain, organize, guide, and direct those resourcestoward the desired result. Someone must "manage" the entire process.09/13/102Mission Vision and Goal Setting09/13/103Vision A Vision is a description of the business asyou want it to be---'a mental imageproduced by the imagination'. It involvesseeing the optimal future for the business,and vividly describing this vision. Thedescription might include HOW things willbe, WHERE, WHO with, WHAT you'll bedoing and HOW you'll feel.09/13/104MissionA Mission is the definition of the 'special assignment'being undertaken by the business.Mission statement defines the companys majorcompetitive scopes: Industry scope Products and applicationsscope Competence scope09/13/10Illustration-vision and mission5Goal settingEstablishing short- or long-term objectives,usually incorporating deadlines andquantifiable measures SMART goals Goal Congruence Organizational goal vs. Individual goal anddepartment Goal09/13/106Marketing DefinedMarketing is the process of planning andexecuting the conception, pricing,promotion, and distribution of ideas,goods

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