Marketing management is defined as the process of overseeing and

planning new product development, advertising, promotions and sales. An example

of marketing management is creating an advertising plan and implementing that
plan.

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.

Scope Of Marketing Management:

The scope of a business' marketing management depends on the size of the
business and the industry in which the business operates. Effective marketing
management will use a company's resources to increase its customer base, improve
customer opinions of the company's products and services, and increase the
company's perceived value.

Growth Strategies;
The method a company uses to expand its business is largely contingent upon its
financial situation, the competition and even government regulation. Some common
growth strategies in business include market penetration, market expansion,
product expansion, diversification and acquisition.

Types of Strategies
There are a number of different growth strategies, but the most common are:

Horizontal integration The merger or acquisition of new business

operations. An example of horizontal integration would be Apple entering the
search-engine market or a new industry related to laptops and smartphones.

Vertical integration Integrating successive stages in the production and

marketing process under the ownership or control of a single management
organization. An example might include a gas-station company acquiring a oil
refinery.

Diversification

A corporate strategy in which a company acquires or

establishes a business other than that of its current product. Diversification can
occur either at the business-unit level or at the corporate level. At the business-unit
level, diversification is most likely to involve expansion into a new segment of an
industry in which the business already competes. At the corporate level, it generally
means entrance into a promising business outside the scope of the existing
business unit.

Cost Leadership strategies:

Cost leadership is a concept developed by Michael Porter, used in business strategy.
It describes a way to establish the competitive advantage. Cost leadership, in basic
words, means the lowest cost of operation in the industry.The cost leadership is
often driven by company efficiency, size, scale, scope and cumulative experience
(learning curve). A cost leadership strategy aims to exploit scale of production, well
defined scope and other economies (e.g a good purchasing approach), producing
highly standardized products, using high technology. In the last years more and
more companies choose a strategic mix to achieve market leadership. This patterns
consist in simultaneous cost leadership, superior customer service and product
leadership.
OR
Strategy used by businesses to create a low cost of operation within their niche. The
use of this strategy is primarily to gain an advantage over competitors by reducing
operation costs below that of others in the same industry.

Backward integration
Backward integration refers to a company buying or internally producing parts of its
supply chain.
DEFINITION of 'Backward Integration'
A form of vertical integration that involves the purchase of suppliers. Companies will
pursue backward integration when it will result in improved efficiency and cost
savings. For example, backward integration might cut transportation costs, improve
profit margins and make the firm more competitive.

forward Integration:
Forward integration is one of three types of vertical integration, which is a form of
management control that involves companies in the same supply chain belonging to
one owner.

Consumer Market;
Markets dominated by products and services designed for the general consumer.
Consumer markets are typically split into four primary categories: consumer
products, food and beverage products, retail products, and transportation products.
Industries in the consumer markets often have to deal with shifting brand loyalties
and uncertainty about the future popularity of products and services.

Buisness Market;

Business marketing is a marketing practice of individuals or organizations (including

commercial businesses, governments and institutions). It allows them to sell
products or services to other companies or organizations that resell them, use them
in their products or services or use them to support their works.

Types
Consumer Market
A consumer business market is one in which a business advertises and sells its
products directly to individual consumers. This is the largest type of business
market because of its mass market of customers. Examples include grocery stores,
clothing stores and car dealerships. Franchises, or businesses that sell the rights to
operate branches of their company to others, also fall under the consumer market
category. A well-known consumer market franchise is the chain restaurant.

Service Market
A service market is one in which a business sells its services directly to individual
consumers. Examples including telephone services, plumbing and electrical work. In
some instances a consumer product may be sold in conjunction with the service. An
example is a hair salon that provides the service of cutting hair, but also sells
shampoo and other personal care products.

Industrial Market
Industrial markets are typically defined by the sale of industrial or production
products, good and services to other business industries. These are often goods that
are not marketed to consumers, such as raw materials like steel, glass and wood or
large-scale goods such as multi-network computer systems. Industrial markets have
a much smaller target audience than other markets because the products and
services it supplies are not focused on a mass market.

Business-to-Business Market
The business-to-business market has a focus on products, goods and services that
are typically sold to other businesses, rather than direct to consumers. Examples
include office furniture, corporate accounting services and conference and exhibit
supplies. Many business-to-business markets have some overlap with consumer and
service markets, for example, a cleaning company that provides both residential
and commercial services.

Professional Services Market

Professional services are those categorized as specialized areas of business that
typically come with a degree of accountability in terms of licensing and certification.

Examples include legal and medical services. As with the business-to-business

market, there is sometimes overlap between markets. For example, a law firm may
represent both individuals as well as corporations.