Applied principles of marketing and marketing management

Marketing management is one of the most important functions for any business that exists in the demanding environment of the 21st century. A business cannot function in isolation but is an open system which is influenced by several variables. Applied principles of marketing and marketing management aims to provide junior marketing personnel and junior marketing managers with an introductory understanding of the principles of marketing and marketing management.
The book starts with an introduction to the world of marketing by studying its various aspects, including a definition of marketing, the exchange process, the value-adding functions of marketing, the role of marketing in economic development, the marketing process, marketing management tasks and, finally, the marketing concept.
To function in a multi-faceted business world, the learner is also introduced to the process of environmental scanning. As a marketer, the learner should understand the general characteristics of the market, as well as the differences among consumers that will allow marketing personnel to determine how consumers’ behaviour in life can influence their purchasing power. Market segmentation is furthermore an important principle of marketing that is discussed. Finally, the concepts of product decisions and marketing communications are addressed as part of the marketing management function.