Question

In 200 to 250 words, explain the role of the marketing function. What are some activities of the marketing department? Explain how the marketing function determines customer value.

Answer 1

Marketing is an activity designed to understand and meet the needs and wants of consumers. The marketing department determines the product's target audience and outlines product sales strategies that target consumers. This is done by creating product value for consumers. For example, a company that produces toothpaste for all consumers has different strategies for each consumer group. For consumers who have sensitive teeth, the marketing department creates campaigns to show how effective the product is in improving tooth sensitivity. For young people, the department seeks to create a modern packaging and creates advertising on tooth whitening blades. Thus, the primary function of the marketing department is to create personal value for products for each consumer group in order to increase product sales and maximize firm revenue.