The Role of Marketing in Strategic Planning. The Marketing Research is the systematic collection, analysis and interpretation of data pertaining to the marketing conditions.The basic reason for carrying out the marketing research is to find out the change in the consumer behavior due to the change in the elements of the marketing … One observes that the role of marketing in modern organization is that of integrating the needs and wants of the customers to the other organizational functions like production, R&D, finance, personnel, etc. The emergence of the digital, social and mobile web has dramatically changed the way we consume information and interact with brands. Marketing intermediaries fulfill an information role and a logistics role. Marketing creates form, place, time, information and possession utility. Summary and Conclusion. The Role of Marketing in Strategic Planning Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Marketing is the department that runs advertising. The Role of Marketing As we’ve seen the key objective of an organization’s marketing efforts is to develop satisfying relationships that benefit both the customer and the organization. If you continue browsing the site, you agree to the use of cookies on this website. Looks like you’ve clipped this slide to already. Now customize the name of a clipboard to store your clips. It is designed after detailed marketing research. It is the building block of a marketing plan. For the for-profit organization, marketing is responsible for most tasks that bring revenue and, hopefully, profits to an organization. Creates utility: Much of a product’s utility is created through marketing. The question pertains to the importance, which is to say the role, of marketing intermediaries in modern marketing. ©2006 Pearson Education, Inc. Marketing for Hospitality and Tourism, 4th edition Also, most companies can serve some segments better than others, because there is a greater fit between the company’s strengths and the segments’ opportunities. 4. Mix-marketing is a concept that deals with the main components of a marketing plan. The variety of different kinds of consumers and their needs is simply too large. Identify marketing research studies that can be used in making marketing decisions. These efforts lead marketing to serve an important role within most organizations and within society. The importance of well defined roles and structure in the success of Marketing programs. Wholesalers, often called “merchant wholesalers,” help move goods between producers and retailers. To know the various decision areas under each element of the marketing mix and how they influence and interact with advertising and promotional strategy. Is your brand ready? This can be to earn profits or to achieve some other aim. A Marketer will typically take up the following roles, acting between the customer and the organisation; Strategic Partner, Guide, Deliverer, Communicator, Co-ordinator, Negotiator and Customer Voice. Marketing in The role of mentoring in career development. If you continue browsing the site, you agree to the use of cookies on this website. Chapter 2 discusses the strategic planning process. The four main components of the marketing mix are price, location, promotion and product. See our User Agreement and Privacy Policy. Global marketing strategies global marketing strategies international market entry methods. 3. As McKenna (1991, p. 68) notes, “Marketing is everything and everything is marketing,” or as Haeckel (1997, p. ix) states, “Marketing’s future is not a function of business, but is the function of … How to design a modern Marketing and Communications department in an agile ma... Modern marketing organizational structure @kaykas - jascha kaykas-wolff, The 10 responsibilities of marketing departments. Utility is the ability of a product to satisfy wants. In carrying out this role, marketing departments perform product and market research, prepare and package solutions, communicate brand value to the marketplace, and monitor ongoing customer relationships. Set product and marketing goals: Setting product goals is one of the best methods for obtaining success with new products.The product should be marketed in such a way that it becomes indispensable for the consumers. Upcoming SlideShare. If you continue browsing the site, you agree to the use of cookies on this website. Drive MORE CUSTOMERS 4. Marketing will not only help them spre… While the retail channel is most familiar to students, wholesalers play an important role as intermediaries. Role of Marketing. Though the pursuit of social responsibility and ethical marketing does not automatically translate into increased profit, it is still the responsibility of the firm to ensure it is responsible for its actions and their impact on society. Marketing serves also as an economic driver in many ways, from job creation to influencing purchases of products and services. Unit 2.1 strategic planning and the role of marketing. This is the process we pull strangers through in order to make them our customers. Marketing plays a key role in the sale of most goods and services. More About This Show The Social Media Marketing podcast is a show from Social Media Examiner. Rather, marketing research helps to reduce the uncertainty surrounding the decisions to be made. Discuss how marketing research has evolved since 1879. Four P’s of marketing: Once the product goals are set, the four P’s of marketing; price, place, product and promotion strategy, come into the picture. 6. One look at the companies today would be sufficient to conclude that neither marketing nor any other function alone holds the key to success. Scroll Down. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. (Slideshare) The New Role of Sales in a Digital World. The emergence of the digital, social and mobile web has dramatically changed the way we consume information and interact with brands. 1. For instance if a company comes out with a new product nobody in the public will know about it. Structuring for success - Developing a dynamic structure for your marketing t... How to guide - selecting an organizational structure for marketing, Unit 1 functional areas of business organisation, No public clipboards found for this slide. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Strategic MARKETING IS the most exciting of all business sports. First stage in any product development is market researchwhich is done to assess the potential demand and growth expectations in the market. Each time, sales people survived. Think of … For customers with clearly defined needs, marketing provides a means of learning about new products and what they do. Looks like you’ve clipped this slide to already. Role of Promotion in the Marketing Mix. Repeatedly the death of salespeople has been announced in the last 50 years. Slideshow search results for marketing research process Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. by Tom De Baere. Marketing plays a role in informing and educating consumers as it identifies a consumer need and seeks to explain how its products or services meet that need. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. For customers with clearly defined needs, marketing provides a means of learning about new products and what they do. the marketing function’s role but increases marketing’s in-fluence (Greyser 1997). For the not-for-profit organization, marketing is responsible for attracting customers needed to support the not-for-profit’s mission, such as raising donations or supporting a … Chapter 3 What is a Customer Flow? You can change your ad preferences anytime. 1) Corporate level marketing – At the corporate level, the role of marketing is to analyse the business market, analyse the customers, and consequently advice the management on the right perspective for the company.So for example, if the company looks at the competition and the customer, and finds a gap, it is at the corporate level that a new product will be decided. The marketing intermediaries include distributors, agents, wholesalers, retailers etc.