Report: Marketing Functions Relationship with Other Areas

This report delves into the crucial relationships between marketing functions and other key areas within an organization, such as finance, production, procurement, personnel, and research & development. It emphasizes the importance of interdepartmental coordination for achieving organizational goals. The report highlights the symbiotic relationship between marketing and finance, illustrating how financial support is essential for marketing activities like budget preparation, and how marketing decisions are viewed as investment decisions. It also examines the interplay between marketing and production, procurement, personnel, and R&D, illustrating how effective marketing informs production capabilities, facilitates efficient procurement, aids in personnel management, and drives new product development. The report uses British Airways as a case study, underscoring the practical implications of these relationships. It concludes that effective coordination across all functions is vital for optimal results and overall business success.

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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.

Marketing and procurement
Procurement refers to that function that is used in the phase of
shortage of raw material as it is the most significant function of
organisation. The companies were restricted towards bringing
changes in their products in order to responds on the issue of lack
of raw material. Within the context of British Airways, marketing
research towards the customer acceptance of specific products
along with the modification is essential requirement for effective
and efficient planning of procurement functions.
Marketing and personnel
Conclusion
It has been concluded from the above discussion that marketing department plays
an essential role in the performance of all functions and it is required to coordinate
effectively in order to accomplish better results.
The personnel department of a business organisation is associated with the
recruitment, training as well as the management of effective marketing staff
members. Whereas, marketing management is in the hand of personnel division and
they are responsible for market research activity. Within the context of British
Airways, marketing department cooperate and collaborate with the HR division for
developing job descriptions, viewing applicants, designing training programs,
incentive mechanism and so on. Whereas, marketing is a research activity that
provides some valuable information which helps in formulating and implementing
many personnel research tasks. For example: An analysis of discriminant can be
conducted on the behalf of successful and unsuccessful personnel of marketing in
order to help recruiting as well as training programmes.
The R&D department efforts of a business organisation must be
aligned with the development of marketing and product efforts
appropriately. Within the context of British Airways, the
interrelationship between both departments helps at a time of new
product development as well as market expansion. While
developing a new product phases from idea generation to the
development of final product design phase needs strong
cooperation among R&D and marketing departments in order to
understand about the single domain of R&D and applied in
marketing of products for the purpose of serve appropriately in
target market segments.
Marketing and research & development
References
Armstrong, G.M. and et. al., 2018. Marketing: an introduction. Pearson UK.
Bendig, D. and et. al., 2018. Performance implications of cross-functional coopetition in new product development: the mediating role of organizational learning. Industrial Marketing Management. 73.
pp.137-153.