The Role of Marketing
As we’ve seen the key objective of an organization’s marketing efforts is to develop satisfying relationships with customers that benefit both the customer and the organization. These efforts lead marketing to serve an important role within most organizations and within society.
At the organizational level, marketing is a vital business function that is necessary in nearly all industries whether the organization operates as a for-profit or as a not-for-profit. For the for-profit organization, marketing is responsible for most tasks that bring revenue and, hopefully, profits to an organization. For the not-for-profit organization, marketing is responsible for attracting customers needed to support the not-for-profit’s mission, such as raising donations or supporting a cause. For both types of organizations, it is unlikely they can survive without a strong marketing effort.
Marketing is also the organizational business area that interacts most frequently with the public and, consequently, what the public knows about an organization is determined by their interactions with marketers. For example, customers may believe a company is dynamic and creative based on its advertising message.
At a broader level marketing offers significant benefits to society. These benefits include:
- Developing products that satisfy needs, including products that enhance society’s quality of life
- Creating a competitive environment that helps lower product prices
- Developing product distribution systems that offer access to products to a large number of customers and many geographic regions
- Building demand for products that require organizations to expand their labor force
- Offering techniques that have the ability to convey messages that change societal behavior in a positive way (e.g., anti-smoking advertising)
Latest Marketing Stories
- The New Reality of R&D (how companies are acquiring products) Fast Company
- No Laptops, No Wi-Fi: How One Cafe Fired Up Sales (decision opens up space for more to buy) NPR
- Whole Foods Takes Over America (how leading retailer works) CNN Money
- Wal-Mart Plans to Bring Its Compete-on-Price Approach to Organic Food. Here’s How (insight on pricing strategy) Washington Post
- How Target Secured a Pipeline of New Products From Top Brands (the benefit of building relationships with manufacturers) Advertising Age
- New Veet Ads Shame Women by Claiming Having Body Hair Makes Them Dudes (ad controversy) Time
- ZenithOptimedia Expects Ad Spending to Rise in Each of the Next 3 Years (research firm's prediction of ad spending) Adweek
Latest Blog Posts
- Some Companies Find Product Development is Better Left to Others
- If a Small Café Says Goodbye to Free WiFi Will It Say Hello to Increased Sales?
- When Social Media Fuels a Controversial Issue How Do Marketers Respond?
- Web Analytics May Be Dominated by Google but Other Software Finds a Place
- Amazon Knows How to Play the Late-to-Market Game