Interdependence - Marketing

A business is a single, organic entity that involves all 4 Key Business Functions simultaneously. 

The artificial separation of a 'whole' business into these functions is only to aid structure and comprehension. 

Understanding business is kind of like colouring in a circle. 

It is hard to do it in a straight-line. It requires back tracking, leaps forward and repeated coverage of the same territory. 

The best way to get this understanding is by clicking on the hyperlinks to other parts of the course that are embedded in the text on each page. By traversing across the full terrain of the course, the development of a 'holistic' business intelligence will gradually emerge.

Here are the main ways that Marketing is interdependent with other Key Business Functions:

Marketing forms the basis of other business activities in operations, finance, and human resources. 

• Operations: product/service features as determined by marketing will impact the process of manufacturing / delivering that product/service. 

• Finance: marketing is expensive and is a business cost. The price determined through marketing determines the level of sales revenue of a business (and its profitability).  

• Human Resources: staff must be recruited and trained to deliver the business’ product/service. High levels of customer service could be used to differentiate business output from competitors.