Introduction
Marketing is considered an essential tool for ensuring the profitability and the sustainability of an organization within the business environment. However, it is worth noting that most organizations do ignore the essentiality of marketing as a stepping stone of redefining the level of competitiveness in the external environment. The theory of science and management has always been conceptualized as the key element that aids in the understanding of the reliability of marketing in organizations and its relationships and interdependence with other functional areas (Mahajan, Vakharia, Paul & Chase, 2016). The key functional areas that are closely linked with marketing include the financial department, the production, procurement department, personnel, research and development. However, the paper presents a comprehensive discussion of the relationships and interdependencies between marketing and other functional areas.
Marketing and Finance
All marketing strategies are dependent on the modalities that organizations adopt regarding the display and the presentation of the cost and profit budgetary dimension. The necessity to market a brand or a product by an organization must always be reflected in monetary units. Hence, the monetary value generated from sales that is accomplished through marketing is factored in an organization's budgets, and this outlines the concept of budgetary and profitability analyses. The interdependence between marketing and finance is also conceptualized in the context of marketing planning strategies that require the consideration of financial tools that would focus on ensuring that accountability issues are accorded the requisite attention (Nguyen, Ngo, Bucic & Phong, 2018). In numerous circumstances, the decision made by the management of an organization to initiate a marketing plan about a product or a service is often visualized as an investment plan. Hence, the technique of advertising a product or a service is entirely based on the accurate choice of the most appropriate financial tools that would present a conclusive evaluation of the entire cost of investment. The procedure of evaluating the investments is dependent on the price of the new product or service yet to be advertised, the promotion and price distribution techniques that are conceptualized as the marketing mix.
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Marketing and Production
The relationship and the interdependence between marketing and production tend to be a dual correlation. The production potential of an organization heavily relies on the type and the number of products that are most suitable to be marketed by an organization. On the other hand, an accurate evaluation of the sale’s forecast of a given company would lay an affirmative foundation regarding the quantity of the products and the nature of services that should be channeled to the productive operations department of an organization. Ideally, in most business scenarios, there exists a challenge of uncertainties that comes with the demand for a product or a service by the target market (Sombultawee & Boon-itt, 2018). However, organizations' marketing planning and management always come up with the strategies that entail changing the production capacity and focus on the techniques of influencing the level of demand by the target customers.
Marketing and Procurement
The nature of the relationship and interdependence between marketing and procurement dwells on the availability and the supply of the raw materials that are needed to manufacture the new products. It is quite categorical to note that organizations are founded at a time when raw materials are inadequate. Hence, their necessity of modifying new products to suit customers' needs takes center stage (Mahajan et al., 2016). Hence, the marketing techniques would focus on the level of consumer needs in a bid to enable organizations to modify products in a bid to meet the expectations of their clients. Hence, the marketing planning techniques would look into all procurement activities that entail the chance of an organization to benefit from the number of raw materials that are ready for supply.
Marketing and Research and Development
The relationship and the interdependence between marketing, research, and development tend to closely link with each other. In this regard, the need to research the necessity to improve modalities of product development with the purpose of meeting the expectations of clients outlines the value of understanding the significance of research and development in the context of managing marketing plans (Ruekert & Walker, 2017). Several businesses are created in the most difficult times when technology has taken control of marketing since the development of new products is linked to the design techniques of engineers and programmers. However, the research and development focus on developing the product design and features that suit the marketing expectations in the external business environment.
Marketing and Personnel
The personnel department in every organization focuses on the modality of hiring and engaging the most competitive human capital. The nature of interdependence and relationship between marketing and personnel dwells on the modalities companies use to advertise job descriptions and the aligning of new competitive programs in their job advertisement that would uplift the level of competition of an organization in a dynamic business environment (Nguyen et al., 2016). The determination of the value of personnel research projects depicts the nature of interdependence between marketing and personnel. In this case, the level of success or unsuccessfulness of marketing personnel determines the level of compensation accorded to a professional in an organization.
Conclusion
The concept regarding the nature of interdependence and the relationship between marketing and other functional areas and departments in organizations have not always been accorded the requisite attention by most organizations. The capability of an organization to register a compelling performance in both the internal and external business environment depends on its strategies of linking the marketing department with other functional departments in organizations (Sombultawee & Boon-itt, 2018). For instance, the understanding of the necessity of establishing a close link between marketing and finance, marketing and production, marketing, and procurement and marketing and personnel is visualized as a key element in ensuring that organizations produce products and offer services that meet the expectations of the target market.
References
Mahajan, J., Vakharia, A. J., Paul, P., & Chase, R. B. (2016). An exploratory investigation of the interdependence between marketing and operations functions in service firms. International Journal of Research in Marketing , 11 (1), 1-15.
Nguyen, N. P., Ngo, L. V., Bucic, T., & Phong, N. D. (2018). Cross-functional knowledge sharing, coordination and firm performance: The role of cross-functional competition. Industrial Marketing Management , 71 , 123-134.
Ruekert, R. W., & Walker Jr, O. C. (2017). Interactions between marketing and R&D departments in implementing different business strategies. Strategic Management Journal , 8 (3), 233-248.
Sombultawee, K., & Boon-itt, S. (2018). Marketing-operations alignment: A review of the literature and theoretical background. Operations Research Perspectives , 5 , 1-12.
