Marketing as the Most Important Function of Management

Marketing as the Most Important Function of Management Introduction There are different functions of business management. The functions of business include controlling, leading, organizing and marketing among others. These functions are essential in successful operation of the respective business entity. The management functions should be effectively coordinated to achieve goals and objectives of a company or organization.Advertising We will write a custom essay sample on Marketing as the Most Important Function of Management specifically for you for only $16.05 $11/page Learn More Each function plays an important role in the development and success of the respective business. However, marketing is considered among the most important functions of management because it is concurrent through the management process of an organization. Marketing involves searching of market for the products of an organization and determination of the customers’ preferences and appropriate product to produce in the market. It also involves informing the public of new products of a company, how to use the respective product, close competitors and how to compete fairly and effectively in the respective market, and any other change that has been made on respective products. There are different tools that can be used for marketing, for instance, events. This paper highlights how events can be used as a marketing tool. There are different categories of events that companies or organizations may participate in; they include, leisure events, organizational events, personal and cultural events. Choice of an event to use as a marketing tool wholly depends with the respective product that a company intends to market and the expected target group or consumers. Generally, most companies use product launch as a marketing strategy because it is the most common form of organizational event organized by all companies irrespective of size or nature of products produced. Basically, events are categorized with reference to their objective and purpose (Bowdin ‘et al’ 56). However, organizations and companies may use different events as a marketing tool irrespective of their objective or purpose provided the company achieves its goal and the event also achieves its objective and purpose (Goldblatt 79). Consumers’ tastes and preferences are dynamic and therefore require organizations to closely monitor the market and adapt to respective changes that may affect their survival and operation in the respective industry. To effectively operate and compete in an industry and meet needs and demands of consumers, companies need to establish an effective strategic marketing tool.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The tool should also be considered an effective communication tool, for instance, events. Events are considered one of the most effective communication and marketing tool that are from launching of a product to organizing of press conferences (Goldblatt 84). Basically, promotional events are created by companies to enable them effectively communicate with both the potential clients and existing customers of the company or organization (Bowdin ‘et al’ 64). Consumers are evenly distributed and reaching them at once may be difficult and tricky. However, use of events as a strategic marketing tool may enable easy reach to consumers from different geographical areas. Though organized promotional events may not be attended by all consumers or customers, they can be reached through Medias such as radios, magazines and television among others. These medias can be accessed by different people hence enable easy reach to different consumers (Bowdin ‘et al’ 71). Furthermore, these Medias enable reach to thousands and millions of people and from different geographical areas. Similarly, companies or organizations may organize events and invite target audience to the actual event, but this might not be effective in reaching a large number of the target group (Goldblatt 93). Though most companies and organizations rely on organizational events for marketing, this cannot be effective in reaching large number of people especially potential consumers; therefore, use of other events such as personal, leisure and cultural events may be effective in reaching different groups of people, for instance, leisure events such as sports and music may be effective in marketing a product and reaching a large number of people leading to profit increment. Companies especially beverage and alcohol producing companies are at a better position in using leisure events in marketing because the products are mainly used during leisure periods or occasions (Bowdin ‘et al’ 83). A company producing energy drink, alcoholic or beverages may decide to sponsor a sporting or music auditions event. Sponsorship is the main method how companies use leisure events such as music and sporting activities in marketing their products and increasing their market share. During such events, companies are able to expose different people attending the events to both their existing and new products, it also gives the company an opportunity to personally interact with both the existing and potential customers hence maintain the existing clients while win over potential customers.Advertising We will write a custom essay sample on Marketing as the Most Important Function of Management specifically for you for only $16.05 $11/page Learn More Leisure events are effective in marketing products because organizations or companies have the opportunity to teach clients how to use their products, inform them of changes made on the product give both existing and potential clients opportunity to use their products at no cost. Moreover, such events enable a company to understand demands of different consumers, ex pected changes they ought to make to their products to effectively compete in the market with other products (Goldblatt 112). Choice of event to use as a marketing tool wholly depends with the type of product produced by a company or organization. Event to use in marketing also may determine the outcome of the marketing process with reference to the product the respective company or organization produces (Goldblatt 121). There are different categories of events that can be used by different companies or organizations, for instance, cake and flower producing companies or organizations may use personal events such as weddings, anniversaries and birthdays in marketing their products. Such events may also expose potential clients to the products of the company because such products are mostly used in such events, for instance, anniversary of the 9/11 bomb blast victims among others. Furthermore, such companies may also participate in sponsorship of cultural events such as art, heritage and ceremonial among others (Bowdin ‘et al’ 89). Conclusion Marketing involves boost of sales, informing of consumers how to use products of a company, changes made on a product, new products produced by a company, discount on prices and improvement on respective products. There are different marketing tools that can be used by companies; however, events are among the best tools that can be used by companies in producing different products. Events can be used by different companies and organizations producing different products as marketing tool because it can be used in reaching large number o people and at a reasonable cost. Therefore, event can be considered one of the universal and best marketing tools that can be used by any organization irrespective of the products it produces or group it targets. Bowdin, Glenn; Johnny Allen, William OToole, Rob Harris, Ian McDonnell. â€Å"Marketing tools.† New York: Springer, 2009. Print.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Goldblatt, Joe. â€Å"Marketing tools: Event Management.† Cambridge: Cambridge UP, 2010. Print.