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UNIT II HOSPITALITY MARKETING (Marketing v/s Selling) and MARKETING MANAGEMENT II

 Marketing v/s Selling

What is Selling?

The selling theory believes that if companies and customers are dropped and detached, then the customers are not going to purchase enough commodities produced by the enterprise. 

The notion can be employed argumentatively, in the case of commodities that are not solicited, i.e. the commodities which the consumer doesn’t think of buying and when the enterprise is functioning at more than 100% capacity, the company intends at selling what they manufacture, but not what the market requires.

In the sales process, a salesperson sells whatever products the production department has produced. The sales method is aggressive, and customer’s genuine needs and satisfaction is taken for granted.

What is Marketing?

The marketing theory is a business plan, which affirms that the enterprise’s profit lies in growing more efficient than the opponents, in manufacturing, producing and imparting exceptional consumer value to the target marketplace.

Marketing is a comprehensive and important activity of a company. The task generally comprises recognizing consumer needs, meeting that need and ends in customer’s feedback. 

In between, activities such as production, packaging, pricing, promotion, distribution and then the selling will take place. Consumer needs are of high priority and act as a driving force behind all these actions. Their main focus is a long run of business ending up with profits.

It depends upon 4 elements, i.e. integrated marketing, target market, profitability customer and needs. The idea starts with the particular market, emphasizes consumer requirements, regulates activities that impact consumers and draws gain by serving consumers.


What is marketing management?


Marketing management is a process of controlling the marketing aspects, setting the goals of a company, organizing the plans step by step, taking decisions for the firm, and executing them to get the maximum turn over by meeting the consumers' demands.

A person who is a marketing manager must do a deep study to have the idea of actually what is marketing management and how to make it better in your firm's favor. Marketing management is based on product, place, price, and promotion to attract consumers.

These four Ps are decided by the management of the company according to the demand of customers what they want to buy, with suitable market prices and easy to find either in stores or online. Marketing management has to deal and make inflow of these elements for business survival.


Objectives of marketing management:

The objectives of each business are pre-set which is led by objectives of marketing management. The basic and important objectives of marketing management are:

  • Attracting new customers

The important objective of marketing management is to attract new customers to increase the sales of products. Different strategies are set to make sure that maximum customers get attracted to the company's products like displaying ads on TV channels or social media, pamphlets, and arranging a sales team that demonstrates the products.

  • Satisfying the demands of customers

Another important objective of marketing management is to keep satisfied the customer who is associated with the company's products for a long period. For this purpose, the quality matters a lot but apart from this good service is also concerned like an on-time supply of products and without damage, the products are supplied.

  • Profitability

Without earning profit a company could not survive longer. Earning profit is the backbone of a company. It is necessary to earn profit for growing, diversifying a business, and its maintenance as well. For this purpose, a company must know what is market management? And how to achieve these market targets? A company’s management team keeps the marketing on track by entertaining their old and reliable customers and attracting the new customer to make maximum profit for maximum growth.

  • Maximizing the market share

Another objective of marketing management is to make maximum marketing share. For this purpose, companies use different tools to get maximum market sales of their products by having comparison with a market economy. Sometimes, companies offer discounts to attract customers. Sometimes, they do attractive and unique packaging and offer promotions.

  • Creating a good public reputation

Public reputation plays an important role in the growth of a company. If the company has stood as a good public figure it means it has more chances to grow and diversify but if stands with a bad reputation, it will no longer survive. By marketing, the reputation of a company can be made good and trustworthy for the consumers.


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