Question

what joint decisions do marketing managers have to make with the R&D , Finance and Operations/Production Managers? Why? By the way, it's not only the Marketing Managers job to understand this team oriented approach

Answer 1

There are various aspects of the product marketing that the marketing managers need to decide along with the other departments such as R&D, finance, production, and others. Some these are

· Marketing communication: the message of the marketing should highlight the strength of the product. Thus it is important to discuss the possibilities with R&D teams.

· Marketing budget: the cost of marketing may be considerable. This is where the finance team should be consulted.

· Pricing strategy: the cost of production, R&D, etc. needs to be considered in the product pricing. This is where all the teams should come together to discuss product pricing.