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Relationships of Marketing Functions to Other Functional Areas in an Organization

   

Added on  2023-01-18

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Business organisation is operating its various operations to
achieve its pre-determined goals and objectives and it can be
possible only when the company get an adequate support
from various departments which includes finance, marketing,
HR etc. Marketing plays a crucial role in the growth and
success of an organisation by taking support from other
departments in many ways which includes getting financial
support from finance department to prepare marketing budget
etc. Interrelation and coordination between various functional
areas termed as an essential task for a business organisation
for the purpose of accomplishing organisational objectives.
Marketing plan involves financial dimension also, as the development of
expenditures and earnings stated in monetary terms and budget required to
implement appropriately within strategic marketing plan. For the effective
marketing planning and control need budgeting as well as profitability analysis
that connote some financial tools. Some of the decisions regarding the
marketing activities are viewed as an investment decision as marketing
department is not only responsible for launching or analysing new product
development but it should include price, place, advertisement and promotion.
Within the context of British Airways, interrelation between finance and
marketing is not constraints to the usage of financial inputs while preparing
marketing plan there is the requirement if developing financial plan also that
includes cash flow, credit, capital requirement as well as financial techniques.
Explain the relationships of marketing functions to other functional area in organisation
INTRODUCTION Marketing and finance
Marketing and production
Production capabilities ascertain the kinds of different products that can be
marketed effectively as well as accurate forecasting of sales for every product
are necessary for the appropriate operations of production department. Within
the context of British Airways, demand fluctuation as well as uncertainties
towards products and services impacts on production operations so the
marketing department is required to perform their activities effectively to know
about the demand and requirements as well as helps in setting production
capability and proper inventory management.
Relationships of Marketing Functions to Other Functional Areas in an Organization_1

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