MANAGEMENT

Detailed explanation-1: -Marketing wants to spend money and finance wants to control it. Marketing wants the flexibility to take risks; finance wants structure. Marketing wants proactivity and action; finance wants processes and methodology. Marketing wants to move with speed; finance wants auditable and documented paperwork.

Detailed explanation-2: -To be successful, marketing strategy needs to be properly focused. That means knowing what customers you want to target and finding the best avenues to reach them. Marketing research can help a business put their marketing dollars into the type of advertising that will be most effective.

Detailed explanation-3: -Why is a marketing budget important? ROI (return on investment) and your marketing budget go hand in hand. Your marketing budget will determine how much money you have to put in, and how are you going to spend it. Being unaware of the capital available and how it is being used is how many companies go under.

Detailed explanation-4: -Marketing and finance need to share the same commercial vision and appreciate each other’s value. So they can work together to: Track sales trends. Budget accurately for campaigns.