Marketing means all effort to make new customers and satisfy them. In other words, to do marketing is the aim of business. Accounting and its information can be used in marketing decisions because company's profile can be present with company's earning and profitability capability and its financial stability. These financial reports and statements can be published in newspapers and online. Large numbers of our customers are interested in this accounting information. On the basis of this accounting information, they can decide to invest company. Moreover, today customer is also interested to know solvency and liquidity of business. All these information can come from accounting.
Major marketing decisions are also effected with accounting. Suppose, company wants to invest $100000 in his second branch's marketing promotion. But this decision needs accounting information. We can make its detail.
1. How much expenses were incurred in last time marketing promotion?
2. What amount of ROI, we got from that branch?
3. What amount of return on investment in specific type of advertisement?
4. Have we collected the entire balance amount from debtors of that second branch?
Like above, other accounting information is useful to make the decisions in marketing. Every day, we are seeing that techniques of marketing are being changed. You can see advertisement on the temple when any religious program is started. We are seeing verities of advertisement; we are seeing different behavior of consumer. So, company has to take many flexible and short period marketing decisions. These decisions are done on previous month accounting information of sold inventories. If accounting and financial department work together, after this, decisions of marking can be easily taken by marketing managers.
Major marketing decisions are also effected with accounting. Suppose, company wants to invest $100000 in his second branch's marketing promotion. But this decision needs accounting information. We can make its detail.
1. How much expenses were incurred in last time marketing promotion?
2. What amount of ROI, we got from that branch?
3. What amount of return on investment in specific type of advertisement?
4. Have we collected the entire balance amount from debtors of that second branch?
Like above, other accounting information is useful to make the decisions in marketing. Every day, we are seeing that techniques of marketing are being changed. You can see advertisement on the temple when any religious program is started. We are seeing verities of advertisement; we are seeing different behavior of consumer. So, company has to take many flexible and short period marketing decisions. These decisions are done on previous month accounting information of sold inventories. If accounting and financial department work together, after this, decisions of marking can be easily taken by marketing managers.
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