Importance of Marketing Functions in a Company

Abstract

The article analyzes how top managers of companies see importance of marketing function as well as certain types of marketing activities. These types include typical areas of 4 P’s as well as marketing planning and market-ing research activities. The research is based on survey of 144 top level managers of companies that operate in Lithuania. Managers evaluated marketing planning and price management as the most important marketing functions, while product management, marketing research and communications management appeared to be less impor-tant. The analysis based on characteristics of companies and their markets disclosed more differences in opinions. Managers of subsidiaries evaluated communication, planning and research activities as being more impor-tant. Managers of small companies (below 50 employees) rated almost all marketing activities as less important to them than managers of medium-size or large companies. A lot of differences in evaluations were observed between manufacturing, trade and service companies. Data also showed that managers of growing compa-nies typically higher evaluated marketing planning, product management, and communication activities. The authors summarize that higher evaluations of some mar-keting activities (others remaining equal) may be respon-sible for growth of companies. Since this cannot be re-lated with whatever single characteristic of a company, authors assume that higher evaluations and growth is triggered by a more general characteristic of manage-ment – overall management sophistication.

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