1. Management Functions:
These are associated with the administrative process beginning with the establishment of objectives and ending with the year end plan employed during the previous year. Tasks are:
i. To set marketing objectives
ii. Planning marketing activities
iii. Determining budget
iv. Scheduling marketing activities
v. Control overview process
vi. Communicate plan to responsible persons
vii. Monitoring
viii. Specify corrective action
ix. Report to the management at the end of the year
x. Measure the plan revaluation
2. Customer Analysis:
Product Manager perform root cause analyses of problems being reported by the customers including any strange issues that have surfaced. Product management also requires agile perception management wherein customers are satisfied and comfortable with the products and hence, any problem or issue that appears out of the ordinary has to be treated with urgency.
3. Marketing Decision Function:
i. Product
ii. Packing
iii. Pricing
iv. Advertising
v. Advertising media selection
vi. Marketing research
vii. Types of promotions
viii. Timing of promotions
4. Budget and Marketing Plans:
A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.
