The Importance of Marketing Department in Telecommunication Business Essay

The Importance of Marketing Department in Telecommunication Business - Essay Example Analysis of the key factors of a successful marketing plan will be part of the study. The report will try to understand potentiality of target market from the view point of product centric segmentation. Finally the study will try to prove the importance of marketing department to create a successful business strategy.Marketing Department.Every organization needs a well designed marketing department to create brand equity among customers. Strategic marketing works as a deciding force for a company to survive in hyper competitive business environment. Marketing works as a promotional and distribution tool for company. Marketing strategy differs according to the nature of product. Marketing department of any company focuses on four things to create a successful offering which can be classified as 1-Product (manufacturing product, maintaining the quality standard of product, optimum utilization of resources during production process), 2- Price (deciding the price of the product in accord ance with the demand among customers, setting high price or low price for the product is an important part of pricing strategy), 3-Place (designing distribution network for the product. Company creates distribution network to expand the reach of the product.... Above the line promotion and below the line promotion is part of advertising strategy). Marketing strategy for service industry comprises of additional three types of activities. 1-People (customer relationship management plays a cordial role to increase customer base for any particular brand. Staff of the company is the important assets for any company. They are responsible for providing value for money services to customers and they can help the company to increase service efficiency), 2- Process- (company needs to maintain a proper system of service delivery to be successful in long run. Companies take help of different software systems like RFID, Enterprise Resource Planning, Tally, Oracle to deliver efficient service to customers, 3- Physical Evidence (well designed interior of service delivery place creates a positive brand image of the company from the view point of aesthetics. Restaurants use physical evidences to create the wow factor among customers. Chinese restaurants in America use dragon framework to design interior of the food store. They do it to increase visibility factor of the service among customers). A business can not fulfill demand of all customers due to lack of resources (Financial, Human Resource, Technology etc). For this reason any company needs to identify their potential customer. Segregating the whole customer group into smaller division with more or less common requirements and further filtering down customers in terms of their potentiality (purchase power, urgency of requirement, buying behavior) is known as segmenting and targeting. Perception of a brand in the mind of customer is known as