BUSINESS MARKETING MANAGEMENT
November 26th, 2009 — 05:40 pmbusiness marketing management involves the development of systems to ensure the effectiveness of organizations. It is a special process of management, such as accounting, marketing, finance, business information systems and production, as well as theoretical areas like economics, law, psychology and organizational behavior. One great need of small business managers is to understand and develop marketing programs for their products and services. Long term small business success depends on your ability to maintain a strong body of satisfied customers while continually increasing this body with new customers. Modern marketing programs or business marketing management build around the marketing concept, which directs managers to focus their efforts on identifying, satisfying, and following up the customer’s needs – all at a profit. Business marketing management and marketing plays an important role (in fact it is the most important role) in the success of your small business. Business marketing management involves
* determining the needs of the customer ( Marketing Research ) ,
* Analyze their competitive advantages (Market Strategy ),
* select specific markets to serve ( Target marketing ), and
* Determine how to serve them ( Marketing mix )
Business marketing management also involves managing the customers through trained sales force. Since it requires specialized training, it is important that your sales force understands the nitty gritty of the business marketing. Business markets have some special features, which need t be under stood by the persons who are responsible for marketing of products. The features of business markets are not the same as that of consumer marketing and hence one need to apply different approach.