Marketing functions vary widely depending on the industry and company. In general, the department drums up interest in the company’s products or services through a mix of activities. These can include advertising, public relations and good old-fashioned salesmanship.

Your Marketing Department is concerned with the remaining P’s (beyond R&D’s product): price, place and promotion. Your Marketing Department is also in charge of sales forecasting.

4.2.1 Pricing Sensors

Price was discussed in 3.1.2. To review, appeal falls to zero when prices go $10.00 above or below the expected price range. Price drives the product’s contribution to profit margin. Dropping the price increases appeal but reduces profit per unit.