All this is further explained here. In this manner, why marketing management is so important?
Introduce new products In simpler terms, Marketing Management is important for any business, because: Understand the customer needs. Improving the product and/or service to satisfy customer needs. Expand the technique to reach potential customers.
Subsequently, question is, how do market demands relate to needs and wants? Needs are satisfied by wants, and buying power converts wants into demand. How do market demands relate to needs and wants? They focus more on products than the customer's underlying need.
Besides, what is effective management in marketing?
Therefore, the effectiveness of marketing management is the integrating function, which reflects the relationship between the developed strategies, the use of elements of marketing, operational implementation of programs in the areas and social and corporate responsibility for the results of the work to the public.
What is the point of marketing?
A guiding purpose of marketing is to identify the specific goals and needs of customers and to guide the creation of products or services to fulfill them. And sells itself.