Marketing Management

The main concern for every modern organisation is to understand the needs and wants of its target market and to attract and retain as many as possible. It means that any modern organisation operating in a dynamic and highly competitive marketing environment must strive to identify, anticipate and satisfy the needs and wants of its target market. Marketing activities of any organisation are carried out in an environment that have both direct and indirect impact on the operation and performance of the said organisation. The environment consists of direct factors or variables such as the nature of the target market, competitor's activities, the supplier and distributor roles, the regulatory authorities, research and proportional agencies, the legislature roles of parliament, the judiciary and the role of both the national governments and county or state governments. The indirect forces includes the social and cultural environment, the legal environment, economic environment, political and technological environment. It is against this marketing forces external to the company practicing such marketing that marketing activities for the company to satisfy its target market has to be done.