The nine functions of marketing are to focus on the customer, monitor competition, manage the brand, find and direct supporting vendors, create fresh ideas, communicate internally well, manage the budget, understand return on investment and plan and execute campaigns. Marketers should further remember that their efforts fuel the organization.Continue Reading
Marketing departments are a business' ambassadors to the public, so a critical function is focusing on customers to ensure the business is properly communicating with and serving them. Information acquired from customers should be used to create new ideas for growing revenue and generating customer loyalty. Meanwhile, it's important to monitor the competition, borrowing and improving on their ideas.
Great brand management requires marketing departments to plan and execute good, purposeful advertising campaigns. To this end, internal workers and external vendors, such as newspapers, print shops and designers, need to be properly directed in the execution of marketing campaigns. Good internal communication beyond this is also important, as a marketing department needs to understand what sales goals and other benchmarks the company must meet.
To reach its own goals, marketing departments need to understand returns on investments on their campaigns so they can abandon bad campaigns quickly and keep good ones running smoothly. Good budget management, especially projecting advertising campaign costs, is critical. Marketing departments need to be ready to actively and strategically execute aggressive campaigns, leveraging tools, such as mass media, Internet and direct mail advertising, to implement informed marketing strategies and grow sales for the company.Learn more about Marketing & Sales