W - MARKETING MANAGEMENT
Marketing is one of the key organizational functions: It is not, as many believe, just advertisement or as for others sales only. In truth, it is both, but it is much, much more. Marketing is the art to bring products and services to markets, which attract customers being prepared to pay a fair price for these. This also means that customers neglect competitors’ offers, which is a decisive factor of disturbance in this equation.
Marketing is a complex and demanding task, which needs sound strategies, the right tactical choices, and a sound translation into operational execution for keeping an organization profitably in business. Multiple demands, competing successfully against rivals on overcrowded marketplaces; picky customers, unpredictable and sudden changes in taste, demand, and expectations are permanently confronting and stressing an organization’s resources and capabilities.
Continuously shifting channel preferences and extensions of these through technological advancements make marketing a dynamic discipline requiring the highest proficiency.