Management and marketing within business Organization Essay - 1

Management and marketing within business Organization - Essay Example On the other hand, marketing is a process of informing the customers about the value or utility of a product or service, and to encourage the customers to purchase it. â€Å"It is defined as the process of determining the needs and wants of consumers and being able to deliver products that satisfy those needs and wants. Marketing includes all of the activities necessary to move a product from the producer to the consumer† (What Is Marketing?, n.d, p.13)2 Management is a process which helps to achieve; group goals, Optimum Utilization of Resources, reduction of costs. It is a process which establishes sound organization and equilibrium. Moreover, it helps the society to achieve prosperity (Importance of management.2012)3. Man, material, machine, and money are the four most important resources of an organization. Management is the process, which helps the coordination of all these organizational resources. For example, finance department is responsible for the management of money in an organization. Same way, human resource department look after the manpower resources whereas engineering or production department look after the machineries and materials. Even though different departments are controlling the organizational resources, it is the process of management, which helps them to utilize these resources judiciously so that the organization benefits from these resources. Many people have the illusion that management is a function restricted only to the executives of an organization. In fact, Management is a function usually undertaken by people of all calibre. For example, a housekeeper is responsible for managing the resources of a house properly whereas a construction worker is responsible for managing the works assigned to him. A housewife manages the education of her children while her husband manages other family matters. In short,