Marketing strategy management and implementation are crucial for the success of any business. An effective strategy in implementation and marketing contributes immensely to the performance of any organization. Poor marketing strategy is caused by poor implementation and behavioral problems in an organization. Therefore, an effective marketing strategy requires a competent marketing manager who can oversee various marketing strategies and requirements of an organization. Marketing managers play a huge role in creating and appealing desirable brand perceptions. Marketing managers play essential roles in the organization. For an organization to be competitive, implementing key strategies is critical. Marketing managers outline different strategic plans the marketing team can use to achieve the organization’s goal. Moreover, the marketing manager analyzes and tracks market activities (Ramaseshan et al., 2013). For instance, they analyze emerging trends, new products, potential competitors, and threats to the organization. Also, they improvise on how the organization can engage prospectively with their esteemed customers. Marketing management creates a transaction for exchanging different products for different values, creating satisfaction with the buyer’s needs. Consumer satisfaction is essential for the growth of any business, and it also determines the future of the business (University of Minnesota, 2015). When consumers are unsatisfied with products and services offered by an organization, they are likely to destroy the company’s reputation; hence, the marketing manager’s role is to ensure customer satisfaction. Sales management is also vital because a sales manager must ensure the organization’s sales increase instead of decrease. Marketing managers are also charged with managing complaints that arise from the products or the services offered to the customers. For instance, they can develop a complaint policy in the organization. Also, they train staff to handle consumer complaints by getting the facts and why they complained. Lastly, they listen, learn from the complaints and respond by improving product and service quality.
Financial advisors provide vast services such as tax planning, investment management, and organizational planning regarding finances. Financial advisors work hand in hand with organization managers and business owners to guide them to make the most effective use of their minimum resources. A financial consultant can also work with customers seeking compensation for poorly rendered products or services. The roles of a consultant or financial advisor differ from that of a stockbroker, although few people can differentiate their roles. A stockbroker controls trade for organizations, while a financial advisor is an independent practitioner operating under trust, placing the client’s interest before their own. A financial advisor is tasked with providing investment pieces of advice. They advise their clients on investments (Chaudhry et al., 2021). For instance, they can illuminate assets that fit the client’s goals and needs. Moreover, they can develop different investment strategies to guide clients’ needs. Also, they can make adjustments to investment strategies if the need arises. Secondly, financial advisors can help their clients to manage and handle debts. They guide clients in addressing their economic issues and advise on how debt choices can shape their investment in the future. Financial consultants help clients with tax issues (GOLUBOV et al., 2012). For instance, they can guide the client on how they can minimize taxation and also how they can maximize the deductions made. Although financial advisors do not advise how sales declines can be handled, they guide their clients on how they can manage their finances. For instance, a consultant will research and observe market trends and changes extensively. Then they will recommend appropriate products and services their clients can invest in. Also, they can recommend what changes the client can make to their products to increase sales. The consultant can also handle complaints for the client. The advisor listens to the complaints, get the facts, then advises the client on how they can handle the complaints by providing options on how the problem can be solved.
Chaudhry, A. N., Kontonikas, A., & Vagenas‐Nanos, E. (2021). Social networks and the informational role of financial advisory firms centrality in mergers and acquisitions. British Journal of Management. https://doi.org/10.1111/1467-8551.12477
Golubov, A., Petmezas, D., & Travlos, N. G. (2012). When it pays to pay your investment banker: New evidence on the role of financial advisors in M&As. The Journal of Finance, 67(1), 271–311. https://doi.org/10.1111/j.1540-6261.2011.01712.x
Ramaseshan, B., Ishak, A., & Rabbanee, F. K. (2013). The role of marketing managers’ commitment and involvement in marketing strategy implementation. Journal of Strategic Marketing, 21(6), 465–483. https://doi.org/10.1080/0965254x.2013.804858
The University of Minnesota. (2015, October 27). 14.3 Customer Satisfaction. University of Minnesota Libraries Publishing edition, 2015. This edition is adapted from a work originally produced in 2010 by a publisher who has requested that it not receive attribution. https://open.lib.umn.edu/principlesmarketing/chapter/14-3-customer-satisfaction/
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