Role of Marketing

Question 1

How does marketing and operations relate

Answer 1

• Operations is core business function
• Connect through product development process (O) which involves identifying a market (M) opportunity and creating a product that will appeal to that market (M)
• Changes in marketing activities aim to increase the demand for a good, which will need to be managed by operations
• Connect through product life cycle as sales decrease towards end marketing must develop new products which can be marketed effectively
• E.g. business must determine products are ready for delivery in alignment with marketing plan

Question 2

How does marketing and HR relate

Answer 2

• Marketing team in charge of fulfilling marketing plan and connecting customers to product
• Effectively achieve this HR function of business must hire, train and develop staff who can connect customer’s with product

Question 3

How does marketing and finance relate

Answer 3

• Finance responsible for providing business with financial information
• Information must be used to assist marketing function with development of the marketing plan and product design
• E.g. marketing function must approach finance team before beginning expensive marketing campaign

Question 4

Apple and interdependence

Answer 4

• When sales for a product are in decline finance will look to marketing to increase sales à Sales for iPhone 5 decrease apple discontinued iPhone 5 and launched 5c and 5s
• Factory management (operations) at Foxconn would have begun planning changes to process layout, ordering new components and establishing new quality controls for new models
• Changes to phones being produced would have prompted staffing needs to change meaning HRM must respond.

Question 5

What are the three approaches to marketing

Answer 5

• Production
• Selling
• Marketing

Question 6

Apple and marketing approaches

Answer 6

• When iPhones were first created more of a selling approach to marketing was taken due to the innovative nature of the smartphone design à original ads contained more information about the product rather than attempting to connect with customer
• To compete with an increasingly competitive market Apple has developed more of a marketing approach à Apple undertakes regular surveys on existing iPhone customers to improve their products and software.

Question 7

Types of Markets

Answer 7

• Resource
• Industrial
• Intermediate
• Consumer: subdivided into mass and niche