The marketers should manage all the types of marketing decisions by taking into account the environmental aspect as well. The marketing decisions should not only be right but they should also be taken at right time. The marketing decisions are mainly divided into four categories. You may also say these categories the different types of marketing decisions taken by the management at the making marketing plans for the products.
Marketing management are the organizational principal on the basis of which we apply all the marketing tactics, methods and strategies insides the business enterprises, firms or companies. These marketing management principals set the rules and regulation for every employees of the business organization. We may also says that practically implementation of marketing orientation, techniques and methods is known as marketing management.
Broad environment is the sub category of marketing environments which contains certain forces that have severe effects on the organizations. These forces are known as the forces of broad environments.
Product core concepts is actually a basic idea behind the development of any product is known as product core concepts. Before talking about product core concepts, lets define the product. Product is defined as anything that has a capability to satisfy a need or want and is offered to a market. It is not limited to physical object. In fact product includes satisfactions or bundles of benefits that customers perceive they will get if they buy the particular product. It is cumulative of all physical, symbolic, psychological & service attributes.
TOWS Matrix Definition
The TOWS matrix analysis (Threats-Opportunities-Weaknesses-Strengths) also known as SWOT Analysis. We may also call the TOWS matrix, TOWS Analysis. It is the abbreviation of threats, opportunities, strengths & weaknesses involved in a business venture, project or any other situation that needs a decision, are evaluated with the help of strategic planning tool of TOWS matrix analysis.
PEST Analysis is the analysis of external macro environments, which influence all the organizations in an industry. PEST is an acronym of the following four words, P for Political, E for Economic, S for Social and T for Technological. These External Macro Environment Factors are out of control of every organization & therefore considered as threats for the organization. Mostly this analysis is called PEST Analysis, but sometimes it may also re-arrange as STEP analysis.
According to Gartner customer experience management is a “practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty and advocacy is known as customer experience management. This strategy demand process change and many tactics for its accomplishment. Before going into the detail of Customer Experience Management, talk about the important concepts, which are important to discuss.
Where it is important to know about the marketing terms, here definition is marketing is also important to know. Marketing can be define as “The set of activities that facilitates creation, promotion & provision of goods & services from point of manufacturing to final consumers is referred to as marketing. Definition of marketing can be “the process of planning & executing design, promotion, pricing & distribution of goods, services and ideas to make exchanges that satisfy objectives of individuals as well as organizations. Marketers are regarded as Managers of Demand. It is necessary for them to have knowledge about various aspects, not simply about their own product.
All the marketing efforts are guided by certain marketing management philosophies that give the directions about how the Marketing Activities should be carried out. The marketing management philosophies are actually a concepts, which is the central focus for the business to do their operations. The organizations set their organizational goals in the light of these marketing management philosophies that cover the interests of not only the organizational itself, but also the customers and the society as a whole.