In its most basic definition, the practise known as Market Management, is the discipline of applying the techniques of marketing and managing a business’s marketing resources in practical terms. This discipline is practised in virtually every aspect and industry of the business world. The growing role played by globalisation and the emergence of a ‘world economy’ has led to an ever-growing number of businesses incorporating an international aspect into the planning of all their marketing strategies and an increased awareness of all aspects of international marketing as a whole. kotler and keller marketing management 15th edition
The practise of management for markets has been made considerably easier for any business wishing to engage in it through the creation of specialist software and Market Management Systems which can be provided by a range of suppliers and retailers. If a firm were to use such software, it would enjoy a wide variety of benefits than if they used more traditional means of market management. The first of these benefits is that because such software incorporates an extremely easy to use interface, the initial start up time for installing and using a Market Management System is virtually negligible.
However, the fact that many people are able to use the same system does not mean that it is any less secure as each user account has its own unique user name and pin number, thereby allowing the user a considerably greater degree of control over the security and auditing. This allows the users of the software a greater sense of peace of mind.
However, the arguably most appealing benefit to businesses using this software is that they are far more likely to experience significant savings (particularly when using more recent editions of Market Management Software) from the initial purchasing of the systems to the training of the business’s workforce in order for them to operate the software. Also, the fact that the software is able to remotely update without any human involvement makes the usage of Management software considerable value for money. Also, petescycle when compared to paper-based systems, computerised forms of Market Management Systems reduce the administration time, thereby allowing the firm to spend more time in which to deal with their traders and markets. Also, because the systems allow the firms to have access to the most recent information, it means that they are able to provide a more efficient management of their markets. This in turn allows them to collect money at a far faster rate, as well as enabling them to conduct far faster checks on insurance and insurance details.