Marketing Management
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Details
Textbook:
Pages : 500;
Paperback;
210 X 275 mm approx.
Workbook:
Pages :
282; Paperback;
210 X 275 mm approx, Sample Applied Theory Questions
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Textbook Price: Rs. 900;
Workbook Price: Rs. 700;
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Detail Table of Contents
Developing and Managing Marketing Department and Organization : Chapter 22
SUMMARY:
Globalization and the emergence of advanced technological tools in information technology and telecommunications have forced companies to change the way they do business. They are compelled to give up their conventional business practices and change their business processes with the help of techniques like reengineering, outsourcing and benchmarking. In order to remain competitive, it is essential for them to collaborate with suppliers, build customer relationships, enter global markets through strategic tie-ups like mergers and takeovers, downsize their organizational structures and empower their employees. These measures have a deep impact on organizational performance.
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the existing processes. In outsourcing, companies buy goods or services from external suppliers to focus on their core business activities and reduce the costs in in-house processes. Benchmarking involves the process of identifying the companies that are the best in the industry and analyzing how these companies are performing their business activities, what the practices of these companies that are making them so successful are, etc. After identifying such companies, the firm selects one of them as the benchmark and tries to copy or imitate the best practices of this firm. Companies acquire or merge with other companies to gain a significant advantage through economies of scale or by having a synergistic effect in some business processes. Many companies expand their markets beyond geographical boundaries and extend their operations across countries to reach out to new customers and markets. Also, it has become very important for organizations to flatten and downsize their hierarchical structure in order to get closer to the customers. Flattening is the process that helps the organization reduce centralization that hampers effective and timely decision making.
Organizations develop their marketing department or conduct their marketing activities on the basis of four types of structural forms. These are functional, geographic, product and customer markets. Generally, in the interests of the organization, all the departments should coordinate and work together to achieve organizational objectives.
Marketing implementation is a process by which the objectives and strategies of a company are converted into actionable programs so that the objectives are achieved and the strategies become successful. Various controls are necessary for the successful implementation of a marketing program. Various control tools are annual plan control, profitability control, efficiency control, and strategic control.
