Role of Marketing

DO NOW ACTIVITY

Define Marketing in your own words.

Advertising and promoting goods and services to the consumers; Marketing mix  4Ps

Strategic role of marketing: to develop and implement a marketing plan that will help generate
sales and achieve the business goal of profit maximisation.

Task 1

Teacher led instruction on Strategic role of marketing goods and services & Interdependence with
other KBF using slides. 

Task 2

Using the textbook and slides answer the following questions. 

1. Define the term ‘marketing’.

2. Distinguish between ‘selling’, ‘advertising’ and ‘marketing’.

3. Identify a common financial business goal.

4. Describe the strategic role of marketing goods and services.

5. Explain the role marketing plays in achieving this goal.

6. State the main role of the marketing plan.

7. Describe the interdependence of marketing with the other key business functions.

Marketing and Operations: must communicate to make sure products are of the correct
standards to satisfy the customer’s needs

Marketing and Finance: Marketing is the way most businesses generate sales. Sales help
with managing cash flow; Finance establishes budgets and forecasts marketing must
follow; allocating funds for marketing; return on investment;

Marketing and Human Resources: employee staff/labour; work together to keep the
employer brand and corporate brand consistent; hiring, training, maintenance of staff