Mgt 521 Week 2 " Functional Areas of Business"

Topics: Marketing, Management, Strategy Pages: 3 (713 words) Published: April 14, 2013
Functional Areas of Business Paper

Improving marketing has become a top priority of successful inventors and corporations. Most corporations’ research different groups and needs in the marketplace, satisfy the consumers in a superior way by targeting their wants and needs. All marketing strategies are built on segmentation, targeting, positioning, and then position its offering so that the target market recognizes the company’s image and terrific offerings. There are many different business areas which will sometimes play a huge factor such as, finance, accounting, information systems, marketing, and strategic management. “A marketing strategy employs the existing market offering to reach a new market segment, whether domestic or international. For example, because of rising prosperity worldwide and rapidly increasing access to cable television that offers U.S. programming, fashion trends from the United States have spread to young people in emerging countries” (G. Levy, D. Grewal, PhD, M. Levy, PhD.Ch. 2). Companies must increase their high standards and success by improving their marketing strategies and commitment. They must establish specific policies regarding key topics. Management must exhibit hard and honest work on day to day operations, to earn a positive reputation for its company. They also have man procedures set in place to ensure ethical behavior for everyone within the company. Managers can influence the compliances status of the company. Management can identify any weaknesses and turn them into strengths by applying effective communication skills. Management can also apply some prior knowledge skills about the group of individuals they are targeting. They have a greater advantage of doing this processing customer excellence, planning and professionalism. Management will also provide a combination of products, ideas, services and strategies. A marketing strategy includes the four P’s. Promotion is hoe the product will be...
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