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Arguments against Marketing Being the Most Important Function Organizations exist to serve customers, and while there are many different avenues to growth after that foundation is set, sales need to happen to keep a company alive. Marketing's critical role in any company is to also keep it grounded in the fact that its relevancy is only temporary. Relevancy and trust must be earned over and over again by creating products, services, and programs that align to users' needs. That is only possible when a company puts the customer first and listens to their needs. Marketing is the catalyst of growth.
Over the last three years the turbulent economic environment has led company senior management teams to elevate finance to the most important function in a company (Matichich, 2009). Finance has in fact become so prevalent as the core focus of companies that the Chief Financial Officer (CFO) role now has greater responsibility than ever, from Information Systems (IS) to marketing budgets (Kierulff, Petersen, 2009). Finance has also emerged as the most important function in an organization because nearly every organization has had to deal with restructuring their financial plans and methods of financing (Matichich, 2009). Financial managers argue that without restricting of credit lines, leases and costs, there would be significantly less funds available to produce and sell goods and services. Marketing is seen as secondary to the need to gain more attractive financing and credit terms, which keep the company moving forward and solvent. Due to all of these factors, marketing is not considered strategic, while relationships with investors and lending institutions are. The primary customer becomes the shareholder and the lender, not the person purchasing the product. In many industries facing rapid rates of consolidation, this happens often, as is the case in enterprise software for example. The need for making finance the center of the company is predicated on having the best possible lines of credit and expansion through acquisition. Marketing becomes secondary and tactical when an organization chooses to expand through mergers and acquisitions. Manufacturing becomes more of a primary focus in organizations when finance is at the center of operations as well. The concentration on production efficiency, costs, and managing to variances in pricing all are critical for a company to be profitable. These metrics and their value to a company staying financially viable further support finance, not marketing, as being the most important function in an organization.
Conclusion
References
Cravens, D., Piercy, N., & Baldauf, a. (2009). Management framework guiding strategic thinking in rapidly changing markets. Journal of Marketing Management, 25(1/2), 31.
Herbert Kierulff, & Henry L. Petersen. (2009). Finance is everything: advice from turnaround managers. The Journal of Business Strategy, 30(6), 44-51.
Philip Kotler. (1998). A generic concept of marketing. Marketing Management, 7(3), 48-54.
Matichich, M.. (2009). Minimizing financial risk in today's turbulent economy. American Water Works Association. Journal, 101(4), 78-84,10.
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