Object of Marketing Management

Marketing management is the process of planning, organizing, implementing, and controlling marketing activities to achieve organizational goals. The primary objective of marketing management is to create, communicate, and deliver value to customers in order to satisfy their needs and wants. This is achieved through various marketing strategies and tactics aimed at building customer relationships and promoting products or services.

1. Identification of Target Market
- The first object of marketing management is to identify the target market, which involves analyzing customer needs, preferences, and behavior. This helps in understanding the specific group of customers that the organization aims to serve.

2. Understanding Customer Needs
- Once the target market is identified, the next objective is to understand customer needs and wants. This involves conducting market research, surveys, and analysis to gather information about customer preferences, buying behavior, and market trends.

3. Developing Marketing Strategies
- After understanding customer needs, marketing management focuses on developing effective marketing strategies. These strategies include product development, pricing, promotion, and distribution. The aim is to create a unique selling proposition that differentiates the organization's products or services from competitors.

4. Product Development and Management
- Marketing management is responsible for developing new products or modifying existing ones to meet customer demands. This involves conducting research and development, product design, and quality control. Additionally, marketing management is also responsible for managing the product life cycle and making decisions regarding product features, branding, and packaging.

5. Pricing Strategies
- Determining the right pricing strategy is crucial for marketing management. It involves analyzing market conditions, competition, and customer perception of value. The objective is to set a price that maximizes profitability while remaining competitive and attractive to customers.

6. Promotional Activities
- Marketing management includes planning and implementing promotional activities to create awareness and generate demand for products or services. This may involve advertising, sales promotions, public relations, and digital marketing campaigns. The objective is to effectively communicate the value proposition to the target market and influence customer buying behavior.

7. Distribution and Channel Management
- Another important objective of marketing management is to ensure efficient distribution and channel management. This involves selecting appropriate distribution channels, managing relationships with intermediaries such as wholesalers and retailers, and ensuring the availability of products or services in the right place at the right time.

8. Customer Relationship Management
- Building and maintaining strong customer relationships is a key objective of marketing management. This involves understanding customer preferences, providing excellent customer service, and implementing strategies to retain existing customers and attract new ones. The objective is to create customer loyalty and maximize customer lifetime value.

9. Monitoring and Control
- The final objective of marketing management is to monitor and control marketing activities to ensure they are aligned with the overall organizational goals. This involves analyzing marketing performance, measuring key performance indicators, and making necessary adjustments to marketing strategies and tactics.

In conclusion, the object of marketing management is to effectively plan, implement, and control marketing activities to achieve organizational goals. By identifying target markets, understanding customer needs, developing strategies, managing products and pricing, implementing promotional activities, managing distribution channels, building customer relationships, and monitoring performance, marketing management aims to create value for customers and drive organizational success.