Asked by Justin Maynes on May 03, 2024

verifed

Verified

Describe how marketing has evolved into a major business function that crosses all areas of a firm or organization.

Value Cocreation

The collaborative process between companies and customers where both parties work together to create better products, services, or experiences.

Major Business Function

Core activities carried out within an organization that are essential to its operation, such as marketing, finance, human resources, and production.

Marketing Evolution

The process of change and development in marketing strategies and approaches over time, adapting to technological advancements and consumer behavior changes.

  • Understand the evolution and role of marketing in organizations.
verifed

Verified Answer

CB
Christopher BrownMay 09, 2024
Final Answer :
Marketing advises production about how much of the company's product to make and then tells supply chain mangers when to ship it. It creates long-lasting, mutually valuable relationships between the company and the firms from which it buys. It identifies those elements that local customers value and makes it possible for the firm to expand globally. Marketing has had a significant impact on consumers as well. Without marketing, it would be difficult for any of us to learn about new products and services.