HRM and Marketing Assignment Example | Topics and Well Written Essays - 1250 words

HRM and Marketing - Assignment Example Viewed as a key component in corporate survival and growth, marketing is becoming more of a planned and goal-oriented management activity. The market information sharing has been equated closely to what Kohli, Jaworski and Kumar termed intelligence dissemination' (1993, p. 476). It is also significant to know that, Kohli and Jaworski (1990, p. 3) ascertained from research that inter-functional co-ordination should be limited to co-ordination related to market intelligence'. The competitor orientation can assist company performance. The organisation should consider how well its products suit customer but should also assess that how well they perform in comparison to competitor s (e.g. Ohmae 1982, pp. 91-98). Moreover the competitors can affect the organisation and a focus on trying to understand their strengths, weaknesses can help to prepare for competitor activity and so minimise its adverse effects (e.g. Dickson 1997, p. 209). The company that monitor the activities of competitors benefit by learning about the strategies of the competitors. Such knowledge can be helpful for sustainable growth. Marketing is regarded as more than another functional area of business, although it must operate in conjunction with other equally important functions. It is viewed as a fundamental method of managing the resources and activities of business and of making the consumers and customers the focal point for management action. Successful marketing requires recognition and authority at the top decision-making level. Marketing programs must be carefully planned and based not merely on knowledge of internal corporate affairs, but also on knowledge of external environments. A homeostatic point of equilibrium between customer wants and needs, is called for on the one hand, and corporate goals and resources on the other. Relationship between Marketing Concepts and Banagas Strategies In the beginning company was dependent on other external international companies for all marketing and sales activities. But being a progressive company such arrangement has been left behind with passage of time. Now company has its own vision and corporate objectives, these objectives are being looked after and pursued by company's own management. Local people are hired and company is confident that they will certainly meet the demands of the business. As discussed in theoretical part of this paper company is vigorously pursuing the policy of expansion and growth. Company has entered into agreement with many companies like Bapco (The Interim Agreement) for new business ventures. It will give company management confidence to management the matters independently. (Case Study) Company is also acting according to recognized corporate norms of transparency and openness. All the products are transparently tendered. Company is also using the modern technology including information technology. All these policies have helped company in achieving all the planed strategic objectives. (Case Study) References Dickson,