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The Art and Science of MarketingMarketing for Marketing Managers$
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Grahame Dowling

Print publication date: 2004

Print ISBN-13: 9780199269617

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199269617.001.0001

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The Nature of Marketing Management

The Nature of Marketing Management

Chapter:
(p.1) Chapter 1 The Nature of Marketing Management
Source:
The Art and Science of Marketing
Author(s):

Grahame R. Dowling

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199269617.003.0001

This chapter explains the nature of marketing management. Marketing is the management of the exchanges between an organization and its stakeholders — customers, employees, community groups, and others. This book focuses on customers. The skill in managing the marketing function is to take a broader view than simply designing products and services for sale to target consumers. The two primary roles of marketing are to attain and retain target customers. Markets can be defined from both supply and demand perspectives. Supply reflects the mechanics of the business while demand reflects the desires of customers. Marketing managers need to balance between the value of the benefits and solutions to problems offered to customers and the profitability of customers to the organization. Organizations have their own unique culture that can help or hinder the marketing function.

Keywords:   marketing management, supply, demand, market opportunities, marketing, customer, managing skill

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