Understanding the Relationship Between Marketing and Business Functions

What is the definition of Marketing?

The management process of getting the right product to the right customer at the right price to the right place and time. It’s also essential to the success of any business. It's not only about selling or advertising, but a business philosophy about satisfying consumer needs or demands.

(Identifying Anticipating and Satisfying consumer needs profitably)!!!!!!!

Describe the relationship between marketing and: Finance

Marketing costs money, so the marketing and finance department have to work together in setting appropriate budgets.

Describe the relationship between marketing and: Human Resource Management

Marketing information can enable more effective workforce planning in the HRM department. This can influence the demand and supply of labor in an organization. Ensuring that the right quality of salespeople are hired will also aid in meeting the marketing department’s objectives

Describe the relationship between marketing and: Operations Management

The production and marketing departments will need to work together to ensure that the products developed meet the specifications of the customers