Management Theories

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

With marketing there are 6 core concepts to help understanding the very process of marketing that directs the flow of goods and services from producers to consumers Chimhanzi, J. , 2004).

The overall concept of marketing is a management philosophy according to which a firm 's goals can be best achieved through identification and satisfaction of the customers stated and unstated needs and wants. Companies should identify the needs of their customer and produce products and

Theories gave organizations a framework for knowledge and a guide to achieving their goals. The Industrial Revolution prompted the need for better supervision of workers to boost productivity within the automobile, steel, and coal industries. It is because of this need that the various theories of management began to take shape.

The marketing concept is a customer-centered sense and responds philosophy. (The job is to find the right products for your

            The Marketing Concept.  This is a business philosophy that challenges the above three business orientations.  Its central tenets crystallized in the 1950s.  It holds that the key to achieving its organizational goals (goals of the selling company) consists of the company being more effective than competitors in creating, delivering, and communicating customer value to its selected target customers. The Marketing Concept represents the major change in today’s company orientation that provides the foundation to achieve competitive advantage.  This philosophy is the foundation of consultative selling.

Management theory can be used in many organizations when starting out a business. It addresses how managers and leaders relate to their organization in the knowledge of their goals. It implements on how to set the goals and motivate their employees to perform in a high standard. Management theory consist of three important aspects operation strategy, innovation management and process management.

| A commercial exchange (e.g. products or services) between businesses, typically enabled by the internet or electronic means.

Several modern management theories have been shown to have their roots stemming from the ideologies of the scientific management theory. The basic principles of scientific management include standardised work activity based on measurement and formulae, workers are matched to tasks, coordination of activities in order to execute a number of related tasks and separation of planning and execution with the aim of maximum output. (4) The scientific management theory explores the idea that managers should manage and the workers should work. The industrial revolution era brought the need to bring about an increase in the effective rate of output and productivity and that led to the introduction of the scientific management theory by Frederick W. Taylor. Taylor was an engineer interested in efficiencies through work measurement and coordination of tasks and focused on the problems of dividing up labour tasks. He believed that the most efficient methods for completing a task and for the selection, development and motivation of employees could be scientifically determined, Taylor concluded that there was one best way to achieve things (4). Taylor had four

A Problem that has been associated with the concept of the product is that it can also lead to marketing myopia. Therefore, companies should take innovations and features seriously and provide only which the customer’s needs. The customer needs should be given priority.

Product Concept – the idea that consumers will favor products that offer the most in quality, performance, and innovative features and that the organization should therefore devote its energy to making continuous product improvements

The overall purpose of developing the management theories is to bring out better ways to manage people. According to Aguinaldo & Powell (2002), management theory evolves con-stantly with the continuous stream of new ideas that come from the attempts to transform theory into practice, and vice versa. As essential personnel identify promising methods that assist in managing responsibilities, it will lead to management theories progressing. This paper will il-lustrate how management theories have emerged over the years and it will point out the primary reason why it has prospered.

1. Describe how the need to increase organizational efficiency and effectiveness has guided the evolution of management theory. 2. Explain the principle of job specialization and division of labour, and tell why the study of person–task relationships is central to the pursuit of increased efficiency. 3. Identify the principles of administration and organization that underlie effective organizations. 4. Trace the changes that have occurred in theories about how managers should behave in order to motivate and control employees. 5. Explain the contributions of management science to the efficient use of organizational resources. 6. Explain why the study of the external environment

It defines marketing management as the process of planning & executing the conception of pricing, promotion, distribution of goods, services, ideas to create exchanges that satisfy individual and organizational goals.

5. The Marketing Concept: The marketing concept holds that the key to achieving its organisational goals consists of the company being more effective than competitors in creating, delivering and communicating customer value to its chosen target markets.