The Role of Marketing in Business Success

Introduction

Over the last several years, the role of marketing in business has been increasingly brought to the forefront. A host of strategies have been introduced that are designed to improve the efficiency of firms. For marketing departments, this can result in drastic cuts to the sales force and funding — an outcome that is problematic because it makes companies less productive (Importance of Marketing, 2005; Farrell, 2011).

However, there are theories that support these kinds of changes. Many proponents argue that marketing efforts must be focused, and that the only way to achieve this is by monitoring the results they provide to the firm — including eliminating unproductive employees. These conflicting views have led to heated discussions about the importance of the marketing department. To fully understand the role marketing plays in the success of a business requires examining how it helps to secure the product, shape the marketing plan, respond to competition, and drive advertising. Together, these elements highlight the significance of the marketing department for all firms (Importance of Marketing, 2005; Farrell, 2011).

Securing the Product

The marketing department plays a major role in helping to secure the product that a company promotes to customers. It can take specific product features and demonstrate how the product is superior compared to competitors. At the same time, it can highlight the benefits of using the product and communicate how it will make consumers feel. The combination of these factors helps a firm secure its position in the marketplace. When this happens, the company can create a unique brand that stands out in the minds of consumers (Farrell, 2011).

The marketing plan for any business is critical in determining how the firm will increase its sales. This is achieved by effectively focusing the company's resources on areas that will meet those objectives. In this process, the marketing department must play a central role, because its executives have specific insights about which strategies are likely to provide the greatest returns (Farrell, 2011).

The Marketing Plan

For example, many firms are abandoning traditional marketing strategies such as direct mail and newspaper advertising. For some organizations, however, these approaches can be augmented with an online marketing strategy to increase awareness — using social networking, pay-per-click ad words, and opt-in email lists to build the brand and improve favorable consumer perceptions. When used in conjunction with traditional marketing tools, the company is able to reach a larger demographic of consumers and repeatedly expose potential clients to its message, building favorable views over time. The combination of these factors ensures that a firm's marketing strategy effectively concentrates its resources (Farrell, 2011).

In the future, globalization will result in increased competition from a wide variety of firms. This means that any marketing strategy must identify potential threats and adapt to them. The marketing department is an important ally that should be included in all strategic discussions, because its members understand what customers want, recognize new product innovations from competitors, and can make specific recommendations for addressing these challenges. When this happens, a firm becomes more competitive and more flexible in responding to evolving market conditions (Farrell, 2011).

Conclusion

Clearly, the marketing department plays a major role in contributing to the success of a business. It helps the firm promote itself to customers and build positive perceptions of the organization. When this happens, consumers are more willing to purchase the company's products and services.