Role of Marketing in Business Over the Essay

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Role of Marketing in Business

Over the last several years, the role of marketing in business has been increasingly brought to the forefront. This is because a host of strategies have been introduced which are designed to improve the efficiency of firms. For marketing departments, this can result in drastic cuts in the sales force and funding. This is problematic, as it is making companies less productive. (Importance of Marketing 2005) (Farrell 2005)

However, there are theories which support these kinds of changes. This is because many proponents will argue that marketing efforts must be focused. The only way this can be achieved is through monitoring the results they are providing to the firm. This means eliminating unproductive employees. These conflicting views have led to heated discussions about the importance of the marketing department. To fully understand the role that they are playing in the success of a business requires looking at: how they help to secure the product, the marketing plan, competition and advertising. Together, these different elements will highlight the significance of the marketing department for all firms. (Importance of Marketing 2005) (Farrell 2005)

How to Secure the Product?

The marketing department will play a major role in helping to secure the product that the company is promoting to customers. This is because they can take specific features and demonstrate how the product is superior in contrast with others. At the same time, they can point out those benefits of using it and how it will make everyone feel. The combination of these factors will help a firm to secure its position inside the marketplace. When this happens, the company can create a unique brand that will stand out in the minds of consumers. (Farrell 2005)

Marketing Plan

The marketing plan for any kind of business is critical in determining how the firm will increase its sales. The way that this is achieved is to effectively focus the company's resources on those areas that will achieve these objectives. In this case, the marketing department must play a critical role. This is because these executives will have specific insights about which strategies could provide the greatest returns. (Farrell 2005)

For example, many firms are abandoning the traditional marketing strategies of direct mail and newspaper advertising. However, for some organizations this could be augmented with an online marketing strategy to increase awareness. As the brand is used to improve favorable perceptions through social networking, ad words and opt in email lists. When this is used in conjunction with traditional marketing tools, the company is able to reach out to a larger demographic of consumers. Moreover, they are repeatedly exposing themselves to potential clients (which is leading to favorable views). The combination of these factors are ensuring that a firm is utilizing a marketing strategy is that is effectively concentrating their resources. (Farrell 2005)

Competition

In the future, globalization will result in increased amounts of competition from a variety of firms. This means that any kind of marketing strategy must understand potential threats and adjust to them. The marketing department is an important ally that should be included in all discussions. This is because they know: what customers want, recognize new product innovations from competitors and can make specific recommendations for addressing these issues. When this happens, a firm is able to become more competitive and flexible in evolving with a…

Sources Used in Document:

References

Importance of Marketing, 2005, EBIOA. Available from: <http://www.eioba.com/a/1eft/importance-of-marketing> [17 Aug. 2012].

Farrell, O 2011, Marketing Strategy, South Western, Mason.

Steele, W 1991, 'Perceptions and Marketing Positioning,' Administration and Policy, vol. 19, no. 2, pp. 81 -- 92.

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