The Market and Functional Areas

The Market and Functional Areas

1. Getting the right product, in the right place, at the right time, requires close liaison / communication with other departments

2. Finance

   • Manages the finance for the company, sets budgets.
   • Cost Control
   • Profit Margin Data
   • Developing and launching products can be costly: research, promotion, distribution
   • Marketing must communicate with finance to ensure funds are available
   • Finance expect marketing to stay in budget

3. Human Resources

   • Providing a new product may require changes to current methods / practices - staff resistance, training implications
   • Ensure staff have correct skills and motivation

4. Operations / Production

   • Marketing ensures products produced in line with customer requirements
   • Marketing should pass feedback from customers directly to operations - enable timely modifications, protect reputation

5. Businesses suffering from high labour turnover. SMT try to retain staff, less money previously allocated to marketing