Question

The role of the marketing manager is inclusive as to the development and implementation of the strategic marketing plan. Based on Chapters one and two of the book by Kotler, P., & Keller, K. (2016). Marketing management (15th ed.), outline the core elements of an effective marketing strategy and how the role of the marketing manager influence the overall development and implementation of the marketing strategy.

Answer 1

Key elements of a successful marketing strategy are:

Segmentation

Your existing and potential customers fall into particular groups or segments, characterised by their 'needs'. Identifying these groups and their needs through market research and market reports, and then addressing those needs more successfully than your competitors, should be one of the key elements of your marketing strategy.

Targeting and positioning

You should aim to sell to the market segments that will be most profitable for your business. It is important that your product offering meets the needs of your chosen target market. See target your most profitable customers and define your target market.

Promotional tactics

Once you have created your marketing strategy, you must then decide which marketing activity or activities will ensure your target market know about the products or services you offer, and why they meet their needs.

Monitoring and evaluation

Monitoring and evaluating how effective your strategy has been is a key element, yet often overlooked. This control element not only helps you see how your strategy is performing in practice, it can also help inform your future marketing strategy.

Marketing plan

Once you have decided on your marketing strategy, draw up a marketing plan that sets out how you intend to execute that strategy and evaluate its success. The plan should be constantly reviewed and, if necessary, updated so you can respond quickly to changes in customer needs and attitudes in your industry and in the broader economic climate.

Marketing managers or officers are focused mainly on the practical application and management of an organization’s marketing operations. For marketing managers to be efficient and effective in performing their functions, they should have excellent communication and analytical skills. In small organizations, the marketing manager is in charge of the organization's entire marketing activities and therefore handles formulating, directing and coordinating marketing activities so as to influence customers to choose the organization's products over those of competitors.

The role of marketing manager involves the following:

• Developing, implementing, and overseeing all marketing and advertising strategies, as well as promotional activities.
• Managing and coordinating creative staff.
• Analyzing demographics to delimit target markets for new products, brands, or services.
• Monitoring competitors’ marketing strategies to measure their impact.
• Tracking the effects of the marketing strategies implemented.
• Researching and assessing the feasibility and profitability of existing and upcoming products, brands, or services.
• Keeping up-to-date with marketing trends and requirements to ensure their marketing strategies comply with the latest practices and standards.