Marketing Essay Paper on Marketing Functions

Marketing Functions

Date: October 09, 2014

To: To Backpacking Manager

From: Cathy Reynolds

Subject: Marketing Functions for Backpacking Businesss

The supply chain process is very important to the success of every business. It is imperative to purchase quality products that gratify the consumer’s needs. The reflection of the marketing mix is also essential to the success of the backpacking business. This encompasses the use of the 4Ps of the marketing. A strategic marketing plan incorporating the marketing mix concepts and supply chain processes will improve the performance of backpacking business. The strategic plan will provide long-term guidance to the business, which the backpacking should implement to achieve the anticipated goals.

The strategic plan will provide important information on the selling of the backpacking products. This will include the target consumers, demographic and geographic information of consumers, and consumer’s needs. The marketers will collect information from the consumers and relay it to the business management for proper planning. The information can be used in determining the consumer demand thereby balancing demand and supply of products. In this context, the management also determines the size of warehouse to build and the appropriate time to purchase new stock. The warehouse will assist you to have a buffer stock to regulate the instabilities of demand and supply. Moreover, in order to reduce costs, it is important to balance supply and demand appropriately to reduce transportation costs. This will save the backpacking business unnecessary costs incurred from unplanned transport of goods.

The success of a business depends on the liquidity of the business. Numerous businesses get financial backing from financial institutions. You can find financial backing to support the growth of the backpacking business. Although the new expansion for backpacking is risky, I recommend relying on the information gathered by the marketing department. The information helps to highpoint the existing opportunities to invest. However, before investment, it is important to carry out a risk assessment to reduce the investment risk.