3463202
Description
Mind Map by James HERSH, updated more than 1 year ago
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Created by James HERSH
about 9 years ago
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The Market and
Functional Areas
- Getting the right product, in the right place,
at the right time, requires close liaison /
communication with other departments
- Finance
- Manages the finance for the
company, sets budgets.
- Cost Control
- Profit Margin Data
- Developing and launching
products can be costly: research,
promotion, distribution
- Marketing must communicate with
finance to ensure funds are available
- Finance expect marketing to stay in budget
- Manages the finance for the
company, sets budgets.
- Human
Resources
- Providing a new product may require changes
to current methods / practices - staff resistance,
training implications
- Ensure staff have correct skills and motivation
- Providing a new product may require changes
to current methods / practices - staff resistance,
training implications
- Operations /
Production
- Marketing ensures products produced
in line with customer requirements
- Marketing should pass feedback from
customers directly to operations - enable
timely modifications, protect reputation
- Marketing ensures products produced
in line with customer requirements
- Businesses suffering from
high labour turnover. SMT try
to retain staff, less money
previously allocated to
marketing
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