A business is successful when they have profits, and they have an impact on the people. There are so many ingredients to having a successful business. Marketing and Management are two of them. Without proper management and marketing, the products and services would not be able to reach their target audience, and thus they will not make the desired profits.
Marketing and Management are very much different from each other and have very distinct responsibilities.
Management vs Marketing
The main difference between Management and Marketing is that Management and Marketing are that Management deals with planning, budgeting, organizing, coordinating, reporting, etc., whereas Marketing is a branch inside Management which deals with the marketing of the products, which includes sales, social media interaction, customer interactions, etc. Management is involved in each and every marketing activity, as every marketing plan needs proper management.
Management is a broad concept which consists of many functions such as Planning, Organising, and Monitoring. The production of future action plans, their organization includes gathering the requirements and setting up of resources to execute the plans with optimization, all come under a management task. To ensure everything’s going right, the plans need monitoring, and that is also done under management.
A different concept than management that deals with direct customer interaction and also wants their own management also is known as Marketing. Marketing is the awareness and selling of products and services. Not only that, but Marketing entails other activities also such as identification of customer needs, taking the feedback to improve the quality, determination of the pricing of the products, and watching out the market dynamics.
Comparison Table Between Management and Marketing
| Parameters of Comparison | Management | Marketing |
| Definition | Management is all about the coordination of the task and duties for achieving the desired goal. | It is the branch in the management only which deals with what customers want and needs. |
| Responsibilities | The duties of management are creating proper plans for budgeting and resources, monitoring the marketing analytics, setting the goals and objectives. | The duties of the Marketing team include sending email newsletters to clients, making your clients aware of the discounts, and topics that interest the audience, conducting marking research, etc. |
| Customer interaction | There is no direct customer interaction in the management. | Marketing includes direct interaction with the customer and helps to meet the customer’s demands. |
| Planning | Management is monitored through managerial functions. | Marketing is monitored and arranged by the management only. |
| Courses examples | The courses example for Management is Organisal behavior analysis, leadership and management essentials, business project management, etc. | The courses examples are marketing research, consumer behavior, marketing ethics, and law, etc. |
What is Management?
A purposive activity that makes its group efforts to attain a determined goal. It is a great and important tool for the production of anything and thus puts in various factors of Producing and managing. It involves an organized group of people working for the same motive and helps in getting the right work done. It uses the resources even it is limited, to its best, and makes its efficient use for making the thing happen.
Not only does it involve planning, but also organizing, and monitoring, as well as budgeting too. It is all about how things can be managed and executed to achieve the desired goals. The goals may vary from one business to another. On every level, there is a management team that works towards the maximization of the profits and minimization of the cost.
What is Marketing?
Marketing is nothing but a process through which people can reach and know about the products, and you can make them like your products or services. Marketing involves direct customer interaction, and that helps in understanding the customer demands. Not only the demands, but the valuable feedback from the customers, helps to understand their preferences and interests.
Marketing deals with many things like advertising, sales, distribution methods, and product development. Marketing is a branch of management, and every marketing team also needs to be managed to work properly. There are many types of marketing such as Internet marketing, Search engine optimization, Blog marketing, print marketing, social media marketing, video marketing, etc.
Main Differences Between Management and Marketing
- Management doesn’t relate straightforwardly to consumers, while Marketing needs a lot of direct customer interaction.
- The work of management is monitored through the managerial functions, whereas Marketing activities are monitored and arranged by the management only.
- Management is the proper planning and execution of any work to achieve the desired goal, whereas Marketing is a branch that resides under management and deals with what consumer needs are.
- Management deals with creating proper plans for budgeting and resources, monitoring the marketing analytics, setting the goals and objectives, whereas Marketing responsibilities’ are sending email newsletters to clients, making your clients aware of the discounts, and topics that interest the audience, conducting marking research, etc.
- The courses example for Management is Organisal behavior analysis, leadership and management essentials, business project management, etc., whereas The courses for marketing examples are marketing research, consumer behavior, marketing ethics, and law, etc.
Conclusion
Management and Marketing are both important aspects of any successful business. Proper management will lead to profits through production. The companies provide services, goods, and many products, but they all need to be managed in such a way that it runs smoothly. While companies have to do production, they have to also make sure that what type of products and services the audience wants.
Now, the challenge is also that how to reach the target audiences. And this is when Marketing comes into the picture. The marketing of any product makes an effort to get the customer the right products and improve their product by knowing their feedback. This way, marketing plays an important role. So both marketing and management help in getting the profit in the company and both are equally essential.
References
- https://search.proquest.com/openview/9551be133bb505cec9067d01bf976316/1?pq-origsite=gscholar&cbl=26142
- https://www.sciencedirect.com/science/article/pii/S0007681305000303