The importance of marketing to organisations

The Changing Structure of Marketing Departments in the Age of Disruption by Lara Sinclair 11 months ago The traditional marketing department structure is under siege from the impact of new technologies, but while marketers know their organisations need an overhaul, many are struggling to formulate the new world order. Coupled with that, boards know they must ensure their organisations are focused on the customer and are looking for ways to bring that focus to the fore.

The importance of marketing to organisations

Promotional writing, blog writing, branding copywriting and more. High standards and SEO qualified. Importance of marketing in the success of an organization By Abhinash Jena on November 12, The meaning and importance of marketing has been expressed differently, albeit in similar context, by various researchers through history.

Kotler and Keller state that the financial success of a product depends on its marketing ability. Understanding the significance of marketing objectives enables managers to obtain the information needed to think through the implications of choosing a position in the market.

Understanding the concept of marketing Marketing as a concept has been expressed differently by various researchers, but all these definitions revolve around a central object, known as the consumer Kotler, ; Perreault, ; Berkowitz, Most definitions also point out to a singular aspect as the primary function of marketing: Marketing is quintessentially the delivery of customer satisfaction in exchange for a profit Kumar,p.

As such, the twofold goal of marketing is to attract new customers by promising superior value and to retain current customers by maximizing satisfaction. However, this definition was revised in when AMA decided that marketing was not merely a function, but a set of practices which can be undertaken throughout an organisation.

The Chartered Institute of Marketing CIM gives a somewhat similar definition, which stress that marketing is not merely a concept: Marketing strategies leading to the success of the organization Koli and Koli list several reasons why marketing may lead to the success of an organization: Innovation and reducing cost per unit to enable large scale production.

Maximizing sales by creating goodwill. Recognizing customer needs and wants and creating products accordingly by obtaining market information. Marketing acts as the link between the business and the consumer.

According to Bothathis is important because these gaps must be addressed by the organization accurately, in a timely manner.

Similarly, McCarthy and Perreault list seven gaps in this context: Geographical distances between the organization and consumers.

Gap between production time and consumption time. Gap between what consumers want and what organisations produce.

The importance of marketing to organisations

Gap between the value consumers expect and organisations deliver. Gap between transfer of ownership from manufacturer to consumers.

Gap between quantity needed in the market and organisations produce. Gap between the assortment consumers expect and manufacturers deliver. Similarly, Kurtz et al assert that obtaining market information and delivering the right product or service to the customer are two of the most essential functions of marketing.

This leads to the success of the product or service. A well- implemented marketing strategy not only consists of a well-developed plan to inform and persuade the customer to avail a particular product, but also to understand their needs and expectations.

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Upkar Prakashan, New Delhi. Felton, AP Making the marketing concept work. Harvard Business Review 37, Seo or SEO may refer to. Search engine optimization, the process of manipulating the visibility of a website or a web page in search engines.

The Role of a Marketing Department The Marketing Department plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. Helping you comply with data protection and information law in schools, colleges and universities, as well as childcare and early education settings and services for families in Children’s Centres.

Marketing plays a very important role in the success of any organisation. So what is marketing?

What is the importance of marketing in an organisation? - Specialties

According to Kotler () “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”.

13 evolving discipline. McDaniel () refers to the broad definition of marketing formulated by Philip Kotler, who claims that the essence of marketing is the transaction. The traditional marketing department structure is under siege from the impact of new technologies, but while marketers know their organisations need an overhaul, many are struggling to formulate the new world order.

It’s no wonder: digital marketing and social expertise, data analysis, new technology platforms and other aspects of marketing can no longer be contained in silos but must be.

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