Meaning: Marketing Management? It refers to the management of all marketing activities. Process: Main Steps Involved in the Process of Marketing Management:

The following main steps are involved in the process of marketing management:

1. Choosing a Target Market: First of all, the marketing manager decides the type of consumers the company wants to approach. For example, a company manufacturing readymade garments may aim at reaching the market of children upto the age of five. Similarly, another company may aim at a market of college going boys and girls.

2. Growing Consumers in Target Market: In this stage, the marketing manager makes efforts so that:

i. The consumers of target market may purchase goods.

ii. The consumers of the target market should remain associated with the company for a long time.

iii. New consumers should get attracted towards the company. Thus, in this stage efforts made to reach the target market consumers, to keep them associated and to increase their number.

3. Creating Superior Values: It implies to create such special features in the company’s products as may enable the company to surpass the competitors. For example, a company offering two year’s free service on its electronic products. This results in new consumers getting associated with the company and they begin to communicate the speciality of the company’s products to other people.