Tuesday, 17 August 2010

Marketing in the Boardroom

Marketing has for a long time been seen as a peripheral discipline in organizations. Instead of a way of increasing the companies standing in its marketplace, increase short and long term sales and developing brand loyalty, it has stereotypically been seen as an expense which the company could do without and that minimum revenue should be allocated to. This view is short sighted, naïve and when taken by high ranking members of companies, potentially damaging to the organizations chances of success.

Marketing is an investment, but when the right personnel are undertaking the marketing and they are using the right strategies, there is no better way to develop the company in the long term. Relationships being forged and reputations cemented means companies will see customers returning, instead of making short term sales and then seeing those same customers buying off their competition.

In order for companies to see marketing as being as important and relevant as it is, it is important that all marketing departments be held accountable. Accountable for every penny spent, and every strategy implemented. When marketing departments can start showing where the money is being spent, and what is working, what isn’t working and what they’re doing about it, companies will start considering the discipline with the importance it merits and as the most effective way of reaching their audience and understanding their marketplace.

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