Keeping up with the competition The marketing department is also responsible for researching the competition and keeping up with them to know what they are doing, which products they are launching, what are the weaknesses of the competitors and how to avoid making the same mistakes as the competitors.
Since any loss of inventory anywhere in the supply chain would result in loss of value, effective control of inventory and visibility of inventory gains importance as a key factor of Supply Chain Management function.
It can do so by conducting workshops, training sessions and talks or presentation regarding customer handling and brand awareness.
He is answerable to the Marketing Director. Advertising and Promotional Campaigning Once the enterprise has a product to sell, it is the responsibility of the Marketing Department to promote the product and the brand.
Building Awareness Often, a product or brand may need to create an identity within the market. In other instances, the aim may be to increase sales further at certain times of the year such as near a major holiday.
Customer feedback is an important part of marketing and companies need to conduct surveys to get the feedback from customers and prospects.
Creates awareness of the business and its products as well as provide inputs that create interest for the audience. The creative services and social media marketing report to the marketing manager and work under him. Since all marketing activities cost money, the concept of ROI can help the marketing team to create a marketing strategy that gives the highest exposure for the least amount of money spent.
Conversely, an internet generation used to instant gratification may need to be provided more focused and targeted messages. It is creating a channel for conversation with the targeted consumer base. These interactions can be in person, over the phone and over email or chat.
While the SMEs concentrate on marketing the business and its service on the internet so that more people become aware of it, the creative services take care of designing and presentation part of the business, these include websites, web pages, brochures, booklets, flyers, advertisements, mailers and e-mailers, and all other promotional material that is required by the marketing department.
This includes raising awareness through different mediums to increase sales, as well as to create and foster brand loyalty.
It is the job of the marketing department to analyze the sales of products already in the market, look for opportunities to introduce new products where there are gaps or change and improve products that are hard to sell.
Every business has a standard for inventory turnaround that is optimum for the business. Sales Promotions — These are usually short term strategic activities which aim to encourage a surge in sales.
His job is to create understanding of the clients and try to influence their thinking and behavior.
Product Development Marketing department helps to create products that customers need or want and improve upon the ones that already exist to create better value for the customers.
It is also essential to know how the company is placed in relation to its competitors, why the customers prefer the other companies, what customers the competitors target and the relationship they have with their customers.
But often it may also be needed in times of rebranding or building up a failing product.In this article we will look at 1) role of promotion in the marketing mix, 2) objectives of promotional activities, 3) major targets of promotional campaigns, 4) the promotional mix, 5) types of promotional strategies, 6) managing promotion through the product life cycle, and 7) an example of the promotion mix in action.
The Role of Marketing As marketing gains increasing prominence as an orientation that everyone in the organization shares and as a process that all functions participate in deploying, a critical issue that arises is the role of the marketing function.
Marketing objectives set out what a business wants to achieve from its marketing activities. They need to be consistent with overall aims and objectives of the business.
They also provide an important focus for the marketing team. Marketing is “the process of identifying, anticipating (predicting. The Critical Role of Marketing Author: Fergus McDermott MMII MBA.
Examiner – Management and Strategy, Professional 1. Marketing plays a critical role in the business world today and is central to the success of any business. Enterprise, Trade and Employment Minister, Micheál Martin. Marketing is perhaps the most important activity in a business because it has a direct effect on profitability and mi-centre.com businesses will dedicate specific staff and departments for the purpose of marketing.
Section B2(e) of the Paper FAB Study Guide states that candidates should be able to describe the roles and functions of the main departments in a business organisation: research and development, purchasing, production, direct service provision, marketing, administration and finance.Download