Marketing Management Essay

701 WordsMay 30, 20133 Pages
Marketing Management Week 1 Assignment Sorang Kim BHU MBA 662 Marketing Management Professor Sonya Young May 21, 2013 I. Please answer the following questions to the following Chapters: 1. Chapter 1: Defining Marketing for the 21st Century a. Why is Marketing important? The first decade of the 21st century challenged firms to prosper financially and even survive in the face of an unforgiving economic environment. Marketing is playing key role in addressing those challenges. Finance, operations, accounting, and other business function won’t really matter without sufficient demand for products and services so the firm can make a profit. In other words, there must be a top line for there to be a bottom line. Thus…show more content…
Marketing can give some guides to customer about how to make economical and emotional profit maximize. b. How strategic planning carried out in different levels of the organization? · Top Management Top managers develop long-range plans, called strategic plans that define the company's overall mission and goals. Strategic planning focuses more on issues that affect the company's future survival and growth. To develop strategic plan, top managers also need information from outside the company, such as economic forecasts, technology trends, competitive threats, governmental issues and shareholder concerns. · Middle Management Middle managers focus their goals on a shorter time frame, usually ranging from one month to one year. They develop plans to achieve business objectives in a process called tactical planning. They need more detailed information than top managers do, but somewhat less information than team leaders and supervisors. · Lower Management Supervisors and team leaders coordinate operational tasks, make necessary decisions, and ensure that the decision support information, consults knowledge management systems, and relies on user productivity systems to carry out their day-to-day responsibilities. · Operational Management In many companies, operational employees also need information to handle tasks and make decisions that were assigned to supervisors. This trend, called empowerment, gives employees more

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