Strategy
The senior member of the marketing department takes responsibility for setting marketing strategy in line with overall company strategy and objectives. The strategy may be to increase share in a specific market sector, for example, to enter a new sector, or to open a new channel of distribution, such as the Internet, to reach a wider geographical market. The marketing department reaches agreement on strategy with the board or senior management team before planning campaigns in detail.
Market Research
Market research is a key responsibility for the marketing department. Research helps the company identify market opportunities and gain a better understanding of customer needs. It also helps them understand competitors’ strengths and weaknesses so they can take action to protect business with existing customers or win business from weaker competitors. The department can carry out its own research by studying industry reports, market data on websites, or by contacting customers and prospects to survey their needs and attitudes. Alternatively, they can brief a market research firm to carry out the research.
Product Development
The marketing department works with Internal or external product development teams to develop new products or improve existing ones. The department analyzes sales of existing products and identifies gaps in the product range where there may be opportunities for the company. Marketing employees provide development teams with information on customer needs and preferences to help them identify the features or improvements to incorporate in new products. Later in the product development process, the marketing department sets prices and prepares plans to launch the product.
Communications
Marketing departments plan campaigns and develop communications material to promote products and services to customers and prospects. Depending on their available budgets, they may plan advertising campaigns, develop e-mail marketing programs, create promotional content for the company website, write press releases or product publications, such as product leaflets, company brochures, product data sheets or customer newsletters. They may write and design the promotional material if they have skills within the department or they may appoint advertising agencies or design firms to produce the work.
Sales Support
Cooperation between the sales and marketing departments can improve sales performance and speed up business growth. The marketing department can provide sales teams with high-quality leads by running advertisements that include a reply mechanism, such as a coupon or telephone number, or by encouraging visitors to the company website to register their details in return for a free newsletter or special report. Marketing also prepares presentations for the sales team and supplies them with stocks of promotional material to give to customers and prospects.
Events
In some companies, marketing departments are responsible for organizing events, such as exhibitions, seminars, sales conferences or customer hospitality events. They plan the logistics of the event, booking exhibition booths or meeting facilities, for example, and provide event material, such as displays, presentations or handouts. They also promote external events to customers and prospects to ensure successful attendance.