Managers in each of the five areas of management need specific information in order to make decisions. Which manager needs to have detailed information about a firm's products and services and those offered by competitors?

Question

Wang

Business

17 September, 18:30

Managers in each of the five areas of management need specific information in order to make decisions. Which manager needs to have detailed information about a firm's products and services and those offered by competitors?

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Answers (1)

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Madyson Shannon · Answer 1

The answer is the Marketing Manager.

Explanation:

To begin with lets see what are the 5 functional areas of management.

Production Management Human Resource Management Office Management Marketing Management Financial Management

Out of these, the marketing manager must have a clear understanding and an idea about a firm's products and services and those offered by competitors because in the end, he or she is the one who is going to sell the product and make money to the company.

Understanding competition and their products will aid the marketing manager in developing strategic marketing planning to capture a wider share of the market.

Moreover, this will support to identify what sort of changes are required to made in the product to accelerate its selling and growth potential in the future.