Functions of the marketing area
4 June 2009 - 18:49
A form to understand the use of marketing in a business or company, is through knowledge of its functions.
We see next which are the main functions of marketing or, in other words, which are the main functions of the area, department or of the people in charge of marketing in a company:
Analysis of the market
The first function of marketing is the one to analyze the market, that consists of analyzing the needs, preferences, tastes, desires, habits and customs of the consumers.
Through analysis of the mixed one, we can detect, for example:
- business opportunities, for example, the opportunity to penetrate in a new market.
- new needs or desires, and, that way, to be able to design new products that are in charge to satisfy these needs or desires.
- changes in the tastes or preferences of the consumers, and, that way, to be able to adapt our products to these changes.
- new fashions or tendencies, and, that way, to be able to create or to adapt our products according to these fashions or tendencies.
The function of the analysis of the market does not have to be realized a single time, but it must be realized permanently. We always must be kind to which it happens in the market, and to try to anticipate what can happen.
Also, to realize this function, it is not necessary to realize a complex investigation of markets, but we can, for example, simply to observe the consumers, to talk with our clients, to realize surveys, to collect and to evaluate its data and preferences of purchases, etc.
Analysis of the competition
The second function of marketing is the one to analyze to the competition, that consists of knowing our competitors well, being kind to its movements, and to try to anticipate its strategies.
Through analyzes of the competition, to look for to detect which are our main competitors, where they are located, which are their public objectives, which are their main characteristics, its main strategies, its experience in the market, its competitive capacity, advantages, strengths and weaknesses.
Like the study of the market, the study of the competition must be realized permanently e, also, is not necessary to realize an exhaustive investigation, but we can make use of simple techniques like, for example, visiting some competitors, buying some of its products, to consult or to interview people who have worked with them, or to some of their clients, etc.
Planning of marketing
The function of the planning of marketing consists of realizing the process of:
- to analyze the surroundings: to analyze the market and the competition.
- to analyze the internal situation: to analyze the capacity and the resources (financiers, humans, technological and material) whereupon counts the company.
- to establish the marketing objectives: considering the analyzes realized previously, and the aspirations of the company.
- to design marketing strategies that allow to reach the proposed objectives: considering also, the external and internal analyzes.
- to design action plans: where the steps necessary settle down to implement or to execute the strategies, as well as the resources to use, the ones in charge or people in charge, the times or terms, and the budget or the required investment to implement them.
Design of the marketing strategies
This function that in fact would have to be realized within the planning of marketing, consists of elaborating or formulating the marketing strategies that allow to reach the objectives of marketing proposed by the company.
For a better analysis, the marketing strategies usually are divided in strategies for the product, the price, the place and the promotion.
The strategies for the product are based on the decisions related to the design of the product (characteristic, attributes, functions), to the mark, the launching of new products, the service to the client, etc.
The strategies for the price are based on the decisions related to the reduction of prices, the policies of discounts, supplies, etc.
The strategies for the place or distribution are based on the decisions related to the channels of distribution, storage, means of transport, points of sale, etc.
And the strategies for the promotion are based on the decisions related to the promotions of sales, publicity, direct marketing, etc.
Implementation of the marketing strategies
This function consists of implementing or putting in practice the propose strategies of marketing.
For it, guiding to us of the plans of action previously established in the planning of marketing, we dedicated ourselves to distribute the resources, to assign the people in charge of the tasks, to coordinate the activities, and to direct the completion of the strategies.
Control and evaluation
Control consists of making sure that the marketing strategies are being implemented as they are specified in the action plans, as well as of the good individual and group performance of the ones in charge of its execution.
Whereas the evaluation consists of verifying that the proposed objectives are being reached, through verifying that the obtained results, they agree with the proposed ones in the marketing plan, so that on the contrary, to be able to take the corrective measures or, in any case, to design new strategies of marketing.
Finally, it is possible to stand out that all the functions of marketing must be realized permanently, that is to say, must be part of a continuous process that never finishes. These functions conform a process (the marketing process), since once realized the last function, it is due to begin again with fulfilling first.
Labels: Management of businesses, Marketing
Compártelo
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- Concept and functions of the area of Human Resources
- Concept of marketing
- Concept and examples of Strategies of Marketing
- How to apply marketing in a business
- Functions of the finances in a company
