May 06 2017
A marketing department is not a waste of money! In fact, it is the best way to make a lot money and good marketing department can take a company to a new level. Companies without marketing departments are like “A woman without a man is like a fish without a bicycle.” Marketing is power; it is the booster and a magical tonic. If not then Coca-Cola, Apple, Nike, Google, BMW are not what they are now – the most recognisable logos in the world.
It is not the only brands’ recognitions, but it is evaluation through the years from a humble sales department to the most modern money making process. It is not the “single kill” department, but it is functions and processes of cross-disciplinary teamwork to achieve better financial benefits and for brands’ equity.
Not having marketing departments mean disorganisations, denial of functional specialisation, zero focus on geography and regionalization, product and brand management, and market-segment management. Moreover, companies will not establish a matrix organisation consisting of both product and market managements.
Marketing is the strongest link to create progression and cooperation R&D, engineering, purchasing, manufacturing, operations, finance, accounting, and credit. It is also a bridge between customers and companies.
Marketing is the great involvement in all elements of any company’s operations to work closely with its suppliers, channel partners, with the understanding that each element or function provides an opportunity to market the product to the ultimate consumer.
Buy and selling is a tip of marketing iceberg. Marketing is deep. Money making is one benefit, but taking brands and companies offering to the new level is the real gain to have the good marketing department.
Without marketing, there is no increase in customer baseline and companies without marketing departments in Pakistan are “living in a fool’s paradise.” Marketing, in general term, is to create and exchange value with customers. Peter F. Drucker in his famous book “In the Practice of Management” while defining the concept “there is only one valid definition of business purpose: to create a customer… [Therefore], any business enterprise has two – and only these two – basic functions: marketing and innovation… Marketing is the distinguishing, the unique function of the business.”
Without marketing companies are directionless because marketing has a major role to play in setting a company’s strategic direction. Companies without marketing departments are lacking management responsibilities. Marketing is the source of providing the foundation of organisation development and strategies to deal with wide variety of situations. Therefore, achieving marketing excellence in the future will require a new set of skills and competencies.
Marketing is not just yet another function; it is also be concerned for the welfare of society as a whole. In this world, the biggest tangible and intangible source of welfare work is being financed by companies through their marketing based incomes. Strategically emotional currency is more precious in today’s corporate world and through company-consumers engagement as more and more companies are turning to corporate social responsibility in order to bolster their reputation, as well as their profits.
Companies can make names among corporate compatriots by practising social responsibility through their legal, ethical, productively link social responsibility to consumer marketing programs. Social marketing is done by a non-profit or government organisation to directly address a social problem or cause.
The marketing department is the solution to recognise and to diagnose marketing problem, assessing where the problem exists, and evaluating results through. Having no marketing department can lead to chaos in monitoring and control of marketing activities. Marketing plan control ensures the company achieves the sales, profits, and other goals in its annual plan. The main tools are sales analysis, market share analysis, marketing expense-to-sales analysis, and financial analysis of the marketing plan. Profitability control measures and controls the profitability of products, territories, customer groups, trade channels, and order sizes. Efficiency control finds ways to increase the efficiency of the sales force, advertising, sales promotion, and distribution. Strategic control periodically reassesses the company’s strategic approach to the marketplace using marketing effectiveness and marketing excellence reviews as well as marketing audits.
So, not having marketing department is a big, big, big mistake!