Marketing Management encompasses wide varieties of functions and activities; such as Marketing Research and analysis, Marketing Strategies and Action Plan, Marketing Project Management, Process and Vendor Management, Organizational Management, Reporting, Measurement, Feedback and Control Systems etc.

Management Guru Peter Drucker wrote Marketing is the distinguishing unique function of the business. In 1991, Marketing expert Regis Mckenna expressed a viewpoint in Harvard Business Review Article as Marketing is everything because the marketing encompasses all factors, that influence a companys ability to deliver value to customers, it must be all pervasive part of everyones job description, from the receptionist to the Board Of Directors.

The nature, characteristics of Indian Business are changing drastically due to globalization and high degree of competitiveness. As Marketing is the live wire of any business organization, Marketing Managers / Personnel are under tremendous pressure as they are highly accountable for growth of top and bottom line (and consequences) of the business.

Marketing was born as a means of carrying out a specialized function, determining two management activities - determining market objectives and checking sales.

According to limited vision, marketing has a static competence, as a tool of gathering, providing and updating data. According to the wider vision, marketing has also a scope of assessing products, analyzing the competition, examining the adopted distribution, channel efficiency and studying the promotional advertising initiatives that support the sales. Therefore to be highly successful today, a company must become highly computer-oriented i.e. system and data based. The marketing managers must look for weak points in the positions of its competitors and then launch aggressive marketing attacks /suitable marketing strategy against those weak points - these are very crucial and calculative functions which consist of so many activities and as a result the marketing managers are under high job stress.

Marketing managers develop the organizations detailed marketing strategies with the help of other departmental managers and subordinates; they determine the demands for products and services offered by the organization and its competitor-organizations and identify potential consumers e.g. industrial consumers, business firms, wholesalers, retailers, Government, the general public etc. They develop the pricing strategy with an eye towards the competitors pricing policies versus the products performance while putting best efforts to maximize the firms market share, profits and ensuring the organizations customers/ consumers (are satisfied) satisfaction. The marketing managers continuously analyze the advertisement and other relevant promotional policies to promote the products and services, far better ways than its competitors. This process yields high job pressure and hence, tension or mental stresses on the marketing managers, as the competitions have increased to great extents.

In the highly competitive era in the field of marketing, the rat race for being the first mover has reached its peak. This has created stress on marketing work force and due to the stress; the desire to be innovative than be repetitive has increased in marketing management.

Before Liberalization, Privatization and Globalization era, competitions in marketing and other business activities were less than post L.P.G. era. These are explained below.

Pre-LPG Era

It is LPG (Liberalization, Privatization and Globalization) era in India. It started in early 1980's with pro-business measures like removing restrictions on capacity expansion, price controls and reducing corporate taxes. Second phase of liberalization started in early 1990's which ended many public monopolies and allowed foreign direct investment in many sectors.

After independence from British colonial rule in 1947, India opted a socialist economy with government control over private sector participation, foreign trade and foreign direct investment. This economic policy aimed to substitute products which India imports with locally produced substitutes, industrialization, state intervention in labour and financial markets, a large public sector, business regulation and centralized planning. It expected the creation and growth of capital and technology intensive heavy industries as well as subsidizing manual, low skill collage industries simultaneously.