According to Philip Kotler (2001: 14), "Marketing management is the process of planning and implementation of ideas, pricing, promotion and distribution of ideas, goods and services to produce exchanges that meet the goals of individuals and organizations. Exchange is the basic principle of marketing. Marketing is highly relevant to the issues and challenges of nonprofit organizations. Life all depends on exchange relations organizations to obtain the necessary resources, then convert those resources into products and services and distribute them efficiently to the target market.
Then according Machfoedz (2005) is a marketing management analysis, planning, implementation, and control program patterned to create, build, and maintain the exchange benefit to buyers with a view to achieving corporate objectives.
Based on the opinions of the above it can be concluded that marketing management is the process of analysis, planning, implementation, pricing, promotion, and distribution and control program patterned to create, build, and maintain the exchange benefit to the buyer to achieve corporate objectives.
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The participants in the NDF market comprise multinational corporations, portfolio investors, hedge funds, and proprietary foreign exchange accounts of commercial and investment banks. Both hedging demand and speculative demand are present in NDF market.
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