According to the ‘American Marketing Association (2005)’, “marketing is an organisational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its stakeholders’; whereas marketing strategy is ‘a set of specific ideas and actions that outline and guide decisions on the best of chosen way to create, distribute, promote and price a product or service (Ferrel and Hartline, 2010).’
The comprehension of these definitions state that there is an extensive need of marketing and strategy at different levels in the organisation.
For instance, during formulation of corporate strategic plan there is need of marketing inputs to make it successful such as competitive analysis, market dynamics and environmental shifts (Jain, 1999).
As it specified, in every aspect of marketing strategy level; the appropriate inputs are required to achieve the anticipated results.
More significantly, marketing strategy deals with interplay of three major forces; the customer, the competition and the corporation (Jain, 1999).
In this respect, marking role in the organisational level is divided in three categories and each level has its specified roles as demonstrating in the following table.
Role of Marketing in the Organisation
|Organisational Level||Role of Marketing||Formal Name|
|Corporate Level||Provide customer and competitive perspective for corporate strategic planning||Corporate Marketing|
|Business Unit Level||Assist in the development of strategic perspective of the business unit to direct its future course||Strategic marketing|
|Product/market Level||Formulate and implement marketing programs||Marketing Management|
Source: Jain (1999)
As above table demonstrated, each level of marketing has its specialised and appropriate roles to accomplish the specified and designed tasks.
Nevertheless, on the basis of interplay of three strategic C’s (Customer, competition and Corporation); marketing strategy requires significant decisions during formation of strategy, those includes understanding of; where to compete, how to compete and when to compete (Hooley et al, 2008).
These are key components which plays vital role during marketing strategic decisions.