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market management organization
An organization in which market managers are responsible for developing marketing plans, implementing the plans (or coordinating their implementation by functional departments), and monitoring performance for their assigned market. The market manager may be a staff position for planning and for providing authoritative market information to the functional departments that implement plans. Or it may be a line position with its own (for example) sales and advertising personnel. Market managers may report directly to the marketing manager or (if numerous) to an intervening level of management such as a group marketing manager. Or market managers may report to a product manager of a major product line that is sold to different markets. Comment: The market management form of organization may be appropriate when company products are sold to different markets through different channels of distribution. This is often the case with industrial goods companies that sell the same or similar products to different industries (i.e., markets) and when knowledge of industry product application is essential to successful market penetration. With expert knowledge of the needs and practices of a particular market, the market manager provides feedback from customers for the guidance of research and development, sales engineers, and technical service personnel.
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Marketing
- Category: Advertising
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