Doing business involves a lot of disciplines and practices. You cannot be a good business person if you are only practicing good management. Likewise, you cannot be a good business person if you are only doing good marketing. A successful businessman or businesswoman knows how to implement both effective management and marketing in his or her business.
Management is important to your business because it helps you influence and motivate your employees to be more productive and achieve your production goals. Marketing is also as important to your business because it helps you influence potential and current customers to buy your products and increase your sales. In other words, management is for the workers and production within your business, while marketing is for the customers and sales which are usually external to your business. Without the two, your business would be imbalanced.
Let us say you’re an excellent manager or boss to your people. You are successful in managing them to perform their tasks, thus, achieving your target production. Because of your excellent management skills, you manage to produce quality products based on your target quantity. However, since you’re poor at marketing, you cannot convince people to become your customers. You cannot also retain your current customers because you can’t handle customer relations. This shows that management, without marketing, cannot make your business succeed.
Now let us say you’re a marketing expert. You are also an online marketing specialist. Because of your talents, you were able to promote your business and brand to your target market. Consequently, you were able to attract and convince more customers, and the volume of customers’ demand has increased. But because you have several negative management issues within your business organization, your workers did not cooperate and work with you to supply the increasing demand of your products. And the worst thing of all – they’ve left you behind during the time that you needed them most. This shows that marketing, without good human resource management, cannot help you achieve your overall business goals.
Business owners cannot just produce and produce without selling – that would lead to oversupply and business losses. Moreover, they cannot just drive more and more customers to buy while their workers are lacking in number – that would lead to overloading and over exhausting their people.
As you see, management and marketing should collaborate each other to work as one and help your business achieve overall success. Whether you’re a CEO of a big corporation or a small business owner, you have to make sure that better management is in place within your business. Even if you don’t have employees, you also have to learn how to manage yourself to handle your marketing requirements. If you’re a professional who provides services to clients, you have to manage your time better when the marketing of your services succeed and your number of clients has suddenly increased.
Remember that management and marketing need each other, and business needs both of them. Therefore, don’t just focus on management alone or marketing alone, but handle your business holistically. Besides, there are also other things that you should observe aside from management and marketing, such as accounting, entrepreneurialism, and social responsibility.