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The objectives of the research report is to understand the value and impacts of operations management on marketing industry. In addition to this, report explores concept of operations management and marketing along with impact of marketing on operational management strategies used by marketing industry of UK. From student and professional perspective, report would be helpful because it provides a good career opportunity for the students as well as career opportunity in various fields including Accounting, Marketing, Production, Engineering etc.
Marketing management refers to the managerial process in terms of the best utilisation of available resources to satisfy needs and wants of the customer in order to achieve organisational goals and objectives (Christer, 2003). There is very vast scope of marketing industry in today's era. Marketing is all about communicating the value of product and services that a company is offering to its customers. Success of every business lies on how they market their products to the customers which includes advertising, sales, promotion and public relations. It helps out any company to build its brand name in the market (Jones and Robinson, 2012). Further, this plays a very strong role in every organisation. Students learn about the concept of operations management and marketing plus impact of marketing on operation management strategies used by marketing industry of UK.
Operations management refers to the administration of operations of business to create the highest level of efficiency in order to achieve organisational goals. It facilitates optimum utilisation of resources while converting raw material into finished goods and services. This simply means to manage operations of an entity in order to achieve targets in effective and efficient way. It is very important to manage or balance costs and revenues generated during operational period. Therefore, it helps in balancing costs and revenues of the operations in order to get the highest operating profit (Lowson, 2004).
When marketing management and operations management comes together, then it can be very beneficial for the marketing industry. There are many methods to control business operations through operation management like Critical Path Method, Programme Evaluation and Review Techniques etc.
Reduce cost of product: Operations management will prove very helpful in reducing costs of the product and services (Parker, 2012). Through this, supply chain of product can be properly managed which will help in reducing slack time, results in reduction of cost of the product etc. If supply chain will be managed rightly, then there will be no need for extra mediator to supply product and again it will save costs of operations.
Customer Satisfaction: Student clearly understand that maximum customer satisfaction can be achieved through management of operation. Product can be reached at customer's door whenever they demand it. If product will reach to the customer on time, then it will automatically increase the customer satisfaction towards the product offered by the company. In short, operations management in marketing ensures right product at the right time and at the right place (Poonia and Virender, 2010).
The best utilisation of resources: Resources of the organisation in production operation get optimally utilised by the help of operations management. Raw material can be reached at work place without getting any delay through which activity can be taken place on time. Waiting time between one process to another process will be reduced with the help of various operational management techniques (Evans and Collier, 2004). Available resources can be allocated to each activities in very optimum manner so that it will increase the efficiency of operations.
Research and Development: Researcher understand that through operation management, task of research and development can easily take place. If any organisation wants to do research before launching its product in market, then operation management can be very helpful in this research programme (Mahadevan, 2010). One can know about customer tastes and preferences towards the product and at the same time can get feedback from the customers about the existing products.
Increase quality of goods and services: Quality of product and services get improved by operation management. In transformation process, raw material are checked whether they are of good quality or not. Then after this process are also checked by operational management team in order to get efficiency (Parker, 2010). At last, finished product is also checked out by the specific team which will increase in quality of goods and services.
Innovation: With the help of this, student understand about operation management which leads to product innovation in the market because it builds a solid base of knowledge and operations. Research can take place in very effective manner to find out actual taste and preference of the customers. It will help in getting new idea about product, thus leads to product innovation in the market (Jones and Robinson , 2012).
Helps in promotion: Whenever market come up with any new idea or promotion plan, then it will become necessary to consult with operations manager whether the plan will profitably implement or not (Christer, 2003). This is how it helps in promotion of any goods and services to the customer. Sales of a product can also be increased by the help of this.
Maintain public relationship: Operations management also assists in maintaining public relation with the customers. The team of operations management act as a link between customers and business (John, 2007). It takes feedback from the customers after using the product. After taking the feedback about product, report is sent to business for the purpose of product development. It will help in maintaining public relationships because customer will get the things as he want.
Helpful in advertising: Operations management is very helpful in advertising the product or services in the market. Product and services supplied by the supply chain and an operation manager manage the supply chain in very effective manner. For this purpose, product can be successful in reaching at customer's door step and will help in advertising the product and services. Advertising can be made very effective and an innovative source can be identified for the purpose of promoting the product and service (Nuran and Chris, 2009).
Balance cost and revenue: Operations management tries to balance cost and revenues of the business operations. It helps in managing cost and revenues during whole operational process in order to get the highest operating profit in the least cost. It keeps continuous check on whole operational process and reduce the error occuring during the process. (Poonia and Virender, 2010) This will help in balancing costs and revenues and achieving the highest possible profit out of it.
Operational management can also provide a good career opportunity for the students. It provides career opportunity in the various fields which includes Accounting, Marketing, Production, Engineering etc. A student can make his successful career in operations management. Nowadays, it become a necessary component for both service and manufacturing industry.
Marketing operation management plays a critical role in implementation of organizational polices effectively. It supports all activities from planning and budgeting through marketing content management and analysis of business operations properly. During the sessions of Information Systems & Operations Management (ISOM), 551 researcher learnt about the concept of operations management and marketing along with its impact on operational management strategies used by marketing industry in UK (Saiya, 2005). Group of high impact scholars in ISOM bring thought regarding understanding and explaining influence of operational management strategies on various marketing related activities of marketing companies. During ISOM session, investigator learnt about analytical and computational modelling as well as experimental approaches to accomplish research effectively.
Operational strategies used by marketing industry is helpful for companies in their marketing and communicating marketing objectives with understanding of market trends and competitive environment significantly (Nuran and Chris, 2010). Without balancing between marketing objectives and operational management strategies, marketing sector would unable to accomplish their goals. It can be reason of the biggest sources of inefficiencies. In such kind of situation, Marketing Performance Indicators (MPI) and Marketing Scorecard techniques would be helpful in terms of aligning and fine-tuning their marketing mix to achieve organizational and marketing objectives properly. Besides that, proper monitoring over marketing objectives and operations resources are required to overcome issues during execution of marketing activities.
In ISO 551, student studied that operational management strategies helped marketing industry in performing various functions including marketing planning and budgeting activities with identifying causes of wasteful crisis-driven operations and ensures the consistency of information effectively (Bakliwal, 2011). In addition to this, operations management can help marketing enterprises during campaign analysis and reporting plus performance measurement and reporting properly. Many retail companies of UK effectively linked their operational management strategies with marketing to take benefits of workflow process development and strategic planning. Operations management is working as the value creators in order to have proper use of organization benchmarking and assessments along with managing assets, generating demand.
(Source: Christer, 2003)
From the review of literature section and previous studies of other authors regarding subject matter, it is clear that through effective use of operation performance objectives including marketing industry can manage cost as well as produce and deliver quality of products to their customers in accordance with specification and without error (Judie, Barbara and Maya, 2013). Apart from this, enterprise would be able to change the volume of production and mix of different products or services produced in accordance with promises made to customer at right time.
With the help of effective use of logistics and transportation strategies, marketing companies can create overall supply chain value and deliver better quality of products to their customers without any delays (Lowson, 2013). By overcoming logistics and transportation related issues at the workplace, organizations could be able to avoid common pitfalls in supply chain relationships and achieve trust and collaboration with third-party providers effectively.
Linear programming model: By using this model, marketing industry can be able to overcome cost, staffing, quality of products and prices related issues within the marketing operation. In addition to it, provides opportunity to firms to grasp benefits of cost reduction and profit maximization properly (Mahadevan, 2010).
Critical path analysis and Network planning methods: By using these approaches, marketing industry of UK would be able to complete project in the shortest possible time as well as decides the order in which the activities will be done (Judie, Barbara and Maya, 2013).
Operating management strategies and models used by marketing companies: In addition to this, enterprise can use forecasting models, variance analysis and network models to enhance quality of the products with achieving and sustaining high quality while controlling cost effectively (Parker, 2012). Along with this, enterprise will be able to integrate their production and service activities together to take benefits of business properly.
On the basis of the present report, it can be concluded that strategies of operations management can play an important role in improving brand image of company as well as boosting up the profit margin of enterprise effectively. Research report emphasizes on the tangible benefits achieved by effective use of operational management strategies in their day to day operations. In addition to this, company can use Total Quality Management method, Linear model and Critical Analysis in addition with Network Planning methods to achieve their goals in stipulated time.
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