What is Market Management?
Market management involves specific processes for their effectiveness; Among these processes, the highlights are the planning, the organization process, the control, and the direction of the work, with an objective proposed by the organization.
In addition to this, adding the term market foresees the destination of these administrative objectives. To satisfy both the internal needs of the company. As well as the needs of the public or the market with which the product or service exchange effectively and efficiently.
Opportunities with Market Management
The management is part of this administrative process, in charge of directing and coordinating the actions of the team or system and solving the problems that result from unforeseen throughout the management of the previous phases.
With the processes above, for market management, there are 5 phases: the first is planning, which allows to elaborate, identify and define the objectives, opportunities, the strategies to achieve the goals. Secondly, in this stage, the organization will be assigned to each component of the company or organization, granting it optimal functioning.
Analyze and Manage
In the execution phase, everything planned in market management carries out, studying the success of the administrative plan that has implement]. At the end in the control stage, the results obtained are evaluated and compared with the previous ones or the competition in the market.
In the market, all possible points of view should be analyzed, preferably with the least optimism, the closest to reality, and the second plan in case of failures in the program. Always in search of meeting the objectives, allowing the necessary management corrections to complete for the organization’s success.
The Market Management Technologist will have competencies to:
- Apply the theoretical elements of administrative processes.
- Understand the statistical principles to support the design of surveys and perform data analysis, obtaining valuable information for the organization.
- Manage customer service according to the internal policies of the company.
- Make products or services available to end consumers.
What are the goals of Marketing Management?
The two primary goals of marketing management are to maximize the company’s market share within the overall industry and the customer satisfaction of the consumer base within its already captured market share.
- Increase market share
- Increase customer satisfaction
How can the Technologist in Market Management work?
At the end of the exercise program, the Technologist – Market Management Technician will be in a position to act as a consultant and economic and commercial development officer and will have developed skills to:
- Interpret and understand market trends
- Evaluate the retail and logistics process
- Suggest new marketing solutions for the commercialization of products and services.
- Direct human talent according to the needs of the company
- Analyze accounting and financial results
- Project the marketing according to the type of product or service
- Implement penetration actions for the product or service in the market, taking profitability and marketing strategies into account.
- Plan marketing activities corresponding to the needs and requirements of customers.
- Design market research projects according to the objectives and goals of the research.
- Understand and produce written and oral texts in English, among others.
What is the Know-how of the area?
Moreover, the other outstanding characteristic of a business manager knows how. That is why it is an executive position. The business world made a significant involvement in the world of knowledge, as it created these types of profiles that need wisdom and speed at the same time.
We are in the digital age. The market moves based on information; therefore, it is essential to be up to date with all the analysis tools. That’s what digital transformation is all about, for example.
Technology does not provide us with information but instead gives us the possibility of capturing it, filing it, and working on it. Mastering the technological tools to process information is essential in this area.
Therefore, we have infinite sources of information; there are free tools with good performance and very high-performance tools at a meager cost in the cloud. Processing information is shared. Consumers themselves search for information online most of the time before making a purchase.
However, within all this range of possibilities, the look of a technician who knows how to organize where the user is and where the disposable is essential. In the same way as someone who knows how to process that information and transform it into a strategic plan.
Opportunities are the manifestations of a job well done. You could say that marketing is the art of creating leads. But, be very careful, let’s not get confused! What characterizes an opportunity is not the fact of appearing but being able to take advantage of it.
The market manager knows how to make the most of the possibilities that the analysis tools allow. At the same time that you create opportunities, take advantage of the ones that appear.