In today's world, the department of marketing management in a firm is extremely important. Marketing management helps a company run and expand by keeping in view all the market trends. The progress of the company, the requirements of customers and the competition faced by other companies producing the same product, all these things are handled by the department of marketing management. Although, this department plays no actual role in forming a particular product but the responsibility of making the demand of that product high in the market lies with marketing managers. A market manager analyzes all the aspects involved in the running of the firm and then makes decisions to improve the standard of his/her firm.
The concept of marketing management has emerged much late in the business world. First a product was made and sold. But as markets widened all over the world, it was realized that there was a need for targeting a special class of customers. The manufacturers came to know about the importance of customer-power. These reasons introduced marketing and management to the world. Today, experts and market managers help a company flourish and expand. They guide the company in the time of losses and lead it in good times towards expansion. A market manager has a lot of jobs because he/she is the part of a team which is the backbone of that particular company. That team, insures the safety of that company in the market.
The five most important attributes, without which a person is not capable of market management, are:
A market manager is always on the look for new opportunities which can help expand their company. At the same time, he/she is constantly analyzing where the company stands in the market.
The decisions of a market manager are always customer-focused. His/Her main task is to ensure that the products produced are being bought by people.
Another important task of a market manger is to keep the company within a budget so that the expenditures don't exceed the income.
To look out for possible competition is essential for a market manager. He/She has to make sure that the company doesn't lose its position in the market, to be replaced by some other. Furthermore, competition is what makes any company grow and market managers are looking for just that.
Lastly, market managers take care of their employees. They award bonuses on good work and expect good work in return.
The job of a market manager is quite tough. He/She has to follow strict work ethics and they are the ones who have to go through most of the pressure. Although its office work mainly, the hours of the job extend to more than 8 hours. Apart from that, there is a lot of responsibility involved too which makes this field a bit risky. There are educational courses present today, which guide people and turn them into amazing market managers. So, if one is up for the task, and has the temperament, market managing is an excellent choice of profession especially since there is huge demand for them in the market.
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