To make sure the right product is at the right place, at the right time, for the right price. Ensures that people know about it and want it.
How do I remember it?
Use the acronym POPIC
P – Planning (what to sell, to whom, and how?)
O – Organizing (putting teams and resources in place)
P – Promoting (getting the word out with ads, PR, etc.)
I – Implementing (carrying out the plans)
C – Controlling (checking if it’s working and fixing problems)
Real world example
How Apple uses marketing management with the iPhone:
Planning: Apple identifies the needs of tech-savvy users who want premium smartphones.
Organizing: They align teams in design, production, retail, and advertising.
Promoting: Apple runs emotion-driven ad campaigns showing how the iPhone "just works" and changes your life.
Implementing: The iPhone is launched at global events, stocked in stores, and sold online.
Controlling: Apple tracks sales, monitors feedback, releases new models and even updates to slow down your current phone.