Finance and Management

Topics: Marketing, Business, Advertising Pages: 5 (1928 words) Published: January 15, 2013
Growth strategy: Marketing

1. Introduction
A business will never grow fully in a single day. Some changes, subtractions, and additions will have to be done on a daily basis in finance and management for the business to grow. In the companies, the people who have the mandatory to take care of the growth of the company are managers. They are critical people thus; they should possess some characteristics that will help to be active daily. They determine a lot to the accomplishment or failure of a business. Some tasks involve management that managers have to do on a daily basis. One of this tasks that they have to do for growth of the business is marketing finance and management. Marketing is a key issue in any business that should be taken with the seriousness deserved. Managers have to strategize on a daily basis to find effective ways of increasing their sales and reaching many customers. Although other parties in a business participate in marketing, the mangers are the key planners thus; they make final decisions on what to do and not. This means that all people can manage, but not all of them will be managers. Managers have to have something special that will help them on a daily basis to do marketing finance and management (Pride, Hughes & Kapoor 2009, p.22). 2. Literature review

Marketing finance and management determines the success of a business. Managers are the key players in marketing, and they should do it on a daily basis. Marketing is a strategy that is used in sales, communications, and business development. There are some techniques that managers have to use on a daily basis to achieve high sales and effective communication in the business. These techniques will help a business to grow (Mondschein 2009, p.68). Accounting is the first option that has to be looked into before doing any form of marketing. The manager has the role of ensuring that there is enough capital to undertake marketing. This needs fundamental, strategic planning. The managers may employ some people to do the budgeting for them, but they should ensure that they are the final decision makers. When there is enough capital, then the manager can decide on which methods to choose on advertising of the company’s product. When the capital is less, then there are other methods that can be put in place and work out well. One of them is marketing in the social media networks. This is something that has been done by small businesses in USA, and it has greatly helped. One of the things that managers have to do on a daily basis in marketing is customer orientation. Customers have different needs that must be met so that they may be attracted to a business. The managers have to make strategies that will help them to monitor the changing needs of the customers on a daily basis. If they are not interested in the products, then the managers will be forced to make the necessary changes so that they satisfy the needs of the customers (Klopper 2006, p.71). In marketing, an approach that managers have to employ is refered to as a Solution, Information, Value, and Access (SIVA). This approach has been successful in many businesses where managers have employed. There are different people and services that managers have to pursue on a daily basis to ensure that they satisfy the needs of the customers. To get the information they will have to use the customers themselves. They can put strategies in place that will help to get information from customers for instance using the media. Managers have to ensure they use the media and any other sources of information effectively. This strategy works best in many businesses (Lamb, Hair & McDaniel 2011, p.65). Managers are also involved in advertising as a method of marketing management. Managers have to ensure that their products are well advertized. They have to ensure that there are measures on a daily basis to ensure that their products are well advertized. They have to use the...
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