Marketing Literature Review

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LITERATURE REVIEW

Table of ContentsPage

• Marketing as a management Function3
• Integration of marketing Function7
• Changes in Business Environment10
• Marketing Challenges15
• Bibliography21

Marketing as a Management Function

Marketing as a management function which in its simplest term refers to the basic functions of management namely planning, organizing, leading and controlling (POLC). These four functions are necessary for the achievement of organizational goals. It is important that these activities should operate in harmony with one another since they are interrelated. For instance, according to Cole (1996), a manager cannot just do planning and ignore the other aspects. Although these four functions do not tell the whole story about what constitutes management, they are a convenient way of describing most of the key aspects of the roles of management.

Planning

Plans and decisions are essential requirements to organizational tasks and management. Business success depends significantly upon the successful planning and decision making. Hence, planning is usually listed as the first function of management as we must have a plan before we can organize. Planning can be defined as the management function which involves setting the company’s goals and then determining the means to achieve these goals, in other words, deciding how best to achieve them. In simpler terms, it means deciding now, what to do in the future, given certain intended conditions. The word now indicates present circumstances and the current state of affairs pertaining to an organisation. So, it has been observed that environmental scanning, consisting of the SWOT analysis is therefore a pre-requisite for the planning process. It includes the internal and external environment of the organisation which allows the firm to take advantage of the opportunities and minimize the impact of threats. In addition, the company will have to consider the changes and developments in the macro marketing environment which is the PEST factor (Demographic, Natural, Political/legal, economic, socio-cultural, and technological). The second important element which is ‘what to do’ can also be referred to as ‘what to achieve’. These are expressed in terms of a statement of objectives, goals and targets. The third element, future, may be any time that succeed in the next second or a fraction of it. The future is basically characterised by uncertainty and uncertainty involves risk. Therefore, effective planning requires an effective and efficient process of coping with the uncertainty and the risk of the future to enable achievement of organisation’s objectives. Organizing

In order to reach the objective outlined in the planning process, structuring the work of the organization is a vital concern. Organizing is the management function which focuses on arranging and allocating work, authority and resources among an organization’s members that blend together to develop one purpose, to accomplish the goals. These goals will be reached in accordance with the company’s values and procedures. This function involves the setting up of an organizational structure whereby work is allocated, lines of authority and responsibility defined and a system of rules and regulations which guide the conduct of employees laid down. . Bateman, Snell (2007) pointed out that a manager must know their subordinates and what they are capable of in order to organize the most valuable resources a company has, its employees. This is achieved through management staffing the work division, setting up the training for the employees, acquiring resources, and organizing the work group into a productive team. This structure should constantly change to suit the organizational needs.

Leading

Leading involves influencing others to engage in the work behaviours necessary to reach organizational goals (Bartol 1997). The manager must...
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