Learn: Marketing Fundamentals: Departments, Stakeholders, and CREST Forces

What is the ultimate objective of marketers?

To drive profits, generate revenue, support funding programs, and help run operations.

What are the four objectives of marketers?

Drive profits, generate revenue, support funding programs, and run operations.

What is the role of manufacturing?

To produce products.

What is the role of finance?

To monitor sales and costs.

What is the role of information systems?

To coordinate e-commerce and digital marketing strategies.

What is the role of human resources?

To ensure qualified and innovative people fill organizational roles.

How do organizational departments operate?

They collaborate to support the organization's objectives.

What are the six departments shown in the organizational diagram?

Research and Development, Human Resources, Information Technology, Marketing, Finance, and Manufacturing.

What is at the centre of the organizational structure?

Senior Management.

What is the relationship between an organization and its owners?

Ownership and shareholders.

What is the relationship between an organization and its customers?

Customer relationships.

What is the relationship between an organization and its suppliers?

Partnerships.

What is the relationship between an organization and other organizations?

Alliances.

What is CREST?

A framework representing the organization's external environmental forces.

What does C stand for in CREST?

Competitive.

What does R stand for in CREST?

Regulatory.

What does E stand for in CREST?

Economic.

What does S stand for in CREST?

Social.

What does T stand for in CREST?

Technological.

What are the five environmental forces in CREST?

Competitive, Regulatory, Economic, Social, and Technological.

What connects the organization to its external environment?

Relationships with owners, customers, suppliers, and other organizations, alongside environmental forces.