This section develops an understanding of the importance of Marketing to businesses and how it influences their competitiveness. Knowledge of marketing principles and techniques is then used to analyse situations and solve problems. The relationship between Marketing and other business functions is important.
Marketing should be seen as one strand of business decisions which are likely to also have an impact on other functional areas, such as finance and human resource management. These areas will have an impact on marketing decisions too, such as restricting marketing budgets and controls which limit such areas as advertising.
Central to the understanding of marketing is the role and influence of the customer, the importance of market research and the need for an integrated marketing mix as a tool to achieve marketing objectives.
- Revision Notes ( 5 Articles )