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The Market and Functional Areas
Descripción
Mapa Mental sobre The Market and Functional Areas, creado por James HERSH el 14/09/2015.
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Mapa Mental por
James HERSH
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James HERSH
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The Market and Functional Areas
Getting the right product, in the right place, at the right time, requires close liaison / communication with other departments
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
Human Resources
Providing a new product may require changes to current methods / practices - staff resistance, training implications
Ensure staff have correct skills and motivation
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
Businesses suffering from high labour turnover. SMT try to retain staff, less money previously allocated to marketing
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