Answer:
Role of marketing and marketing management process:
In the emerging world,marketing plays a very important role in attracting customers to gain market share.Competition in the market has increased due to the new entrants so investment has to be made for marketing to create awareness about your product to the customers and influence them in buying your product.It also establishes the relationship between the customers and the organizations offering the product.Marketing shapes the image of the organization and creates a brand image for the organization as well as brand identity for the product.Marketing increases the revenue and thus contribute to organization’s profitability.It helps to retain the customers and make them loyal
Marketing management process is centered around the marketing mix of 4p’s.It revolves price,place,promotion and product.All these have to concentrated to launch a new product in the market to gain market share.Market research have to done before launching the product.Market research should focus on the marketing mix.So that the product can be positioned based on the customers preferences,needs,wants and their interests
Marketing management process helps to analyse the market and select the target market and marketing strategies have to be implemented to become market leader.Internal and external environmental factors have to be analysed before launching the product in the market
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