Role of Functional Departments - Marketing, Product Development and Manufacturing

Role of Functional Departments: 

-> THREE MAJOR FUNCTIONS:        

• MARKETING: 

Marketing has the responsibility for suggesting ideas for new products and for providing product specifications for existing product lines. Marketing are activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. Marketing strategies are ultimately designed to increase market share for a company and its brands, using a range of marketing tactics to accomplish specific goals for new customer acquisition and increased customer loyalty. Marketing is everything a company does to acquire customers and maintain a relationship with them. The ultimate goal of marketing is to match a company's products and services to the people who need and want them, thereby ensuring profitability.

• PRODUCT DEVELOPMENT: 

Product Development is a creation, innovation, utility enhancement or continuous improvement of earlier features (design, service, etc.) of an existing product or developing (manufacturing) an entirely new kind of product to satisfy the requirements of its end-users (consumers). It has the responsibility for moving the technical concept for the product to its final design. Product Development is the creation of products with new or different characteristics that offer new or additional benefits to the customer. Product development may involve modification of an existing product or its presentation, or formulation of an entirely new product that satisfies a newly defined customer want or market niche.
    A good product development helps to: