PURPOSE AND VALUE OF MARKETING FUNCTION

In today’s corporate world

The importance and intent of marketing in any organization is critical and cannot be overlooked. Today, small and large companies compete for the same market, and the most proactive and creative organizations have emerged as winners. In this regard, the global economy has realized the importance of small businesses and, as a result, is increasingly providing them with the necessary resources in order to sustain growth. As a result, a company’s longevity is dependent on wise marketing activities combined with financial organization within their system, among other functions (Kotler et al., 2017). In fact, competition, in today’s business, has escalated to a level that is critical as main inroads are realized in regard to technology usage, the situation is worsening. Marketers are exploiting social media avenues in an attempt to capture the global audience with their service and product offerings. A number of them indeed have achieved much success and the customers are actually more informed compared to how they were some years back.

Marketing in organizations

Marketing plays a pertinent role in creating relationships between the offerings of organizations to the market and the customers. Marketing offers an organization the confidence of wanting to try new products and services in the market contrary to situations in which the products and services enter the market with no publicity (Kerin, Hartley and Rudelius, 2009). This aspect makes the marketing component critical in all organizations despite whether an organization is non-profit or profit centered. It should be noted that the marketing function shapes the organization’s image in respect to how individuals associate the services and products of the organization and indeed offers these individuals the confidence concerning an organization’s services and products.

Revenue increment and customer base

In regard to profit-centered organizations, marketing is actually responsible for revenue increment and by extension, the increase in the profitability of the organization. Furthermore, marketing function helps in the growth of clientele or customer base for an organization (Kotler et al., 2017). Normally, this is true when an organization to a large extent deals with corporate customers and situations where the organization’s decisions are made by many parties. Additionally, the marketing component is involved in the branding of an organization, public activities participation, advertising as well as customer interaction via feedback collection. It is a matter of fact that every product or service launch has to start with marketing and end with marketing in which the marketing department determines the customer’s needs and upon the introduction of the product or service, the department will seek to determine whether the needs of the customers were met.

Establishing customer retention and loyalty

In the same outlook, organizations are engaging in intensive competitions in order to be and remain first in the mindset of the customer while at the same time attempting to safeguard their market share. The marketing function is actually at the focus of establishing customer retention and loyalty. Accordingly, the marketing function performs campaigns and promotions every time and this trend has proved successful as it attracts more customers. Without the marketing function, the organization brands cannot be illuminated (Kerin, Hartley and Rudelius, 2009). The success of an organization is determined not only by the wise application of enough funds to the diverse investment portfolios but as well by the good relationship created with the customers or clients which is the main function of marketing.

Marketing’s relation to value chain functions

Marketing relates to the other a value chain functions in different ways. In regard to the procurement function which essentially outsources components, materials together with other supplies in addition to entailing distribution of products or services, marketing plays a crucial function in the processes. The marketing function balances procurement by offering essential demand and supply information besides establishing relationships that assist in improving the efficiency and effectiveness of procurement. In a mutual relationship, the partners of supply chain contribute to increased customer satisfaction levels besides helping to make an organization a preferred option for the customers. The marketing function offers information to the customers regarding products, their availability, prices, incentives, order tracking, sales information and marketing campaigns (Wind, n.d.). This increases the comprehension of the marketing initiatives and marketing demand which in turn leads to improvement of the supply chain planning. Marketing, by focusing on the attention of the partners and the requirements of the customer, it enables procurement to strengthen the competitive position of the organization and supports the creation of new products and services successfully.

Relationship between marketing and operations

Marketing function also relates to the operation function of an organization. Production capabilities, on the one hand, determine the number as well as the type of products or services that can be marketed together with an accurate focused of sales for the product line which is essential for the efficient and effective production operations. The relationship between operations and marketing function is evident, especially in new products development. Thus, the size of the new facilities of production depends heavily on the estimates of marketing research regarding the demand for such new products as well as the likely space and time of distribution (Wind, n.d.).

References

Kerin, R., Hartley, S. and Rudelius, W. (2009). Marketing. Boston: McGraw-Hill/IRWIN.

Kotler, P., Armstrong, G., Harris, L. and Piercy, N. (2017). Principles of marketing. Harlow: Pearson.

Wind, Y. (n.d.). Marketing and the other business functions. Philadelphia, Pa.: Wharton School, University of Pennsylvania, Marketing Dept.

Name of Business Function 2: Human Resource Management

Answer:

PURPOSE AND VALUE OF HUMAN RESOURCE MANAGEMENT FUNCTION

Human Resource Management in any organization is bestowed with the responsibility of coordinating the employees of an organization in order to realize specific business goals, fulfill staffing needs as well as maintain employee satisfaction (Noe, 2013). The Human Resource Management accomplishes this via the use of individuals, processes, and technology which centers on the organization`s internal parts as opposed to the external environment. The human resource of an organization is involved in the human resource planning. Human resource planning actually is the systematic process of estimating the future supply of and demand for employees together with the deployment of the skills they require in relation to the strategic goals of the organization. The human resource responds to the significance of business planning and strategy in ensuring the availability as well as the supply of human resources in both quality and number. Through this function, the human resource determines the competencies which an organization requires to fulfill its objectives and acquires the appropriate individuals (Mitchell, Obeidat and Bray, 2013). Therefore, the human resource planning indeed serves as a linkage between the overall organizational strategic plan and the human resource management.

The human resource, in addition, has the responsibility of carrying out performance appraisals of the employees of the organization. It encourages the individuals working in the organization to work as per their potentials besides offering them suggestions which can assist them to improve their performance. The human resource team communicates frequently with the employees individually and offers all the information that is necessary regarding their respective performances besides defining their respective roles (Lengnick-Hall, Lengnick-Hall and Rigsbee, 2013). Through this function, the human resource enables the staff to create the outline of their respective expected objectives in terms that are much clearer and this makes them carry out their responsibilities with the best possible potentials.

Likewise, the human resource management`s purpose and value are to maintain the work atmosphere in the organization. This is important in relation to the performance of the employees because performance is largely propelled by the work culture or atmosphere prevailing in the workplace. By creating a good working environment for the employees, the human resource department contributes to the increased motivation of the employees and thusly, increased the performance of the employees and the organization in general. This is greatly attributed to the fact that a friendly atmosphere offers the employee’s job satisfaction which in turn leads to increased performance.

Moreover, the human resource management`s purposes and value in an organization are witnessed in the management of disputes in the organization. It is imperative to note that in any organization, there are many issues on which there disputes or conflicts can occur between the employers and the employees because conflicts are inevitable. In such cases, it is the human resource which takes the mediator and consultant role to address those issues efficiently and effectively for the benefit of the organization (Noe, 2013).

Furthermore, the human resource management purpose and value entails the development of public relations. This simply means the establishment of good public relations with all the stakeholders. In this perspective, the human resource department organizes seminars, business meetings together with other various official gatherings and forums on behalf of an organization with the purpose of building up long-lasting relationships with the other business sectors. At times, the human resource department can participate in the preparation of marketing and business plans of an organization.

The human resource management function relates to other functions of the value chain in different aspects. For instance, the human resource function and the marketing function are inseparable. An organization requires attracting profitable clients so as to realize decent sales numbers. However, acquiring top talent who are interested in the organization is very critical to an organization`s long-term success. Therefore, the human resource department works hand in hand with the marketing department in that the HR department recruits the best marketing skills that can carry out marketing of an organization`s services and products effectively (Mitchell, Obeidat and Bray, 2013). Besides, an effective and efficient human resource management is critical to the success of the operations of the organization. It is important to note that thriving organizations exhibit efficiency, innovation, flexible structure in addition to requiring new skills to the organization which the human resource management acquires. An effective human resource management policy of an organization entails many functions which may influence the final result of the organizational performance and personnel effectiveness. Effective human resource management policy particularly is pertinent in procurement. Effective procurement operations, for instance, require external and internal synchronization, communication and data sharing between and within departments and organizations.

The human resource management functions also relate to the service function in that it is responsible for the recruitment of individuals who possess competencies and skills for the organization`s operations. For instance, the human resource department ensures that the production department of an organization has individuals with the right skills to carry out the manufacturing process. Additionally, it is the role of the human resource department to match the skills and competencies of every employee to the respective responsibilities in the various departments of an organization (Mitchell, Obeidat and Bray, 2013).

References

Lengnick-Hall, M., Lengnick-Hall, C. and Rigsbee, C. (2013). Strategic human resource management and supply chain orientation. Human Resource Management Review, 23(4), pp.366-377.

Mitchell, R., Obeidat, S. and Bray, M. (2013). The Effect of Strategic Human Resource Management on Organizational Performance: The Mediating Role of High-Performance Human Resource Practices. Human Resource Management, 52(6), pp.899-921.

Noe, R. (2013). Human resource management. New York: McGraw-Hill/Irwin.