Term Paper on "Marketing Role for Profitability"
Term Paper 3 pages (1089 words) Sources: 1+
[EXCERPT] . . . .
Marketing's Role In ProfitabilityRole of Marketing in Impacting Profitability
The need for any company to see themselves as global competitors starts with companies putting their markets and customers at the center of their strategies, and measuring how effectively they are attracting, selling, and serving their prospects and customers. This dynamic of making an entire company aligned with the needs of customers is called being demand-driven. The concept of aligning and synchronizing the many departments, buyers, suppliers, and strategies to the needs of customers is called creating a demand-driven organization. The implications of becoming demand driven have been quantified in many different studies of marketing's impact on an organization's profitability. Of all these studies, the most significant are those by Columbus (2003) which states the unique perspective of looking at the distribution channels a company sells through from the standpoint of assets and liabilities, and measuring the ROI of strategies aimed at attracting, selling to, and servicing clients. This is interesting research to consider in the analysis of how marketing specifically influences the financial strength and growth of a company. In his research, Columbus claims that Microsoft was able to increase sales by 30% throughout France using lead management and escalation for their mid-market ERP applications.
In quantifying the financial impact of marketing on the profitability and long-term financial performance of any company, the processes surrounding order capture, order management, fulfillment, and order tracking are all critical. Askegar and Columbus (2002) extensive analysis o
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Where marketing's impact on the financial performance of a company becomes very clear is in the selling of customized product and service configurations to customers. The continual shift of companies to embrace customization and tailoring of their products and services to the specific needs of customers offers some of the highest rewards for financial gains. AMR Research (2003) discusses this in the context of unifying the marketing of build-to-order production strategies into the broader value chain of a company, and the resulting significant influence on financial… READ MORE
Quoted Instructions for "Marketing Role for Profitability" Assignment:
Customer satisfaction is critical to business profitability. While good financial management and corporate strategy contribute as well to a firm's profits, several experts have argued that, in the long run, if the firm does not provide some key benefits to consumers better than its competitors, it has little hope for continued profitability, and even viability.
Based on the assertion above, outline the role of marketing in contributing to a firms profitability. Focus especially on the various marketing tasks abd their relations to the value chain, including other orginaization functions, such as finance, human resources management, production, R&D, etc.
(The book used in this class is Strategic Marketing 8th edition, ***** W. Cravens)
How to Reference "Marketing Role for Profitability" Term Paper in a Bibliography
“Marketing Role for Profitability.” A1-TermPaper.com, 2006, https://www.a1-termpaper.com/topics/essay/marketing-role-profitability/63464. Accessed 5 Oct 2024.
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