The Market and Functional Areas

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Mapa Mental sobre The Market and Functional Areas, creado por James HERSH el 14/09/2015.
James HERSH
Mapa Mental por James HERSH, actualizado hace más de 1 año
James HERSH
Creado por James HERSH hace más de 9 años
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Resumen del Recurso

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
    1. Finance
      1. Manages the finance for the company, sets budgets.
        1. Cost Control
          1. Profit Margin Data
            1. Developing and launching products can be costly: research, promotion, distribution
              1. Marketing must communicate with finance to ensure funds are available
                1. Finance expect marketing to stay in budget
                2. Human Resources
                  1. Providing a new product may require changes to current methods / practices - staff resistance, training implications
                    1. Ensure staff have correct skills and motivation
                    2. Operations / Production
                      1. Marketing ensures products produced in line with customer requirements
                        1. Marketing should pass feedback from customers directly to operations - enable timely modifications, protect reputation
                        2. Businesses suffering from high labour turnover. SMT try to retain staff, less money previously allocated to marketing
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