Every fashion brand cannot survive without an effective and marketing strategy. A well planned strategy helps you to survive in the competition and stay afloat in the treacherous sea of e Commerce. Digital marketing the biggest medium for the world of fashion industry. Currently more and more people are using online shopping as the medium of buying due to its benefits and services they provide. Thus to survive in this cut throat competition the businessmen needs to be very vigilant and careful while planning the strategy in order to get best results.
Change is inevitable and the biggest example of this is increased trend of buying clothes online and closure of physical stores across the countries which is contradictory to fashion segment and the buying pattern going on since years. This shows that change is constant to sustain in the same one needs to be proactive with the changing trends. Today’s world of eCommerce has gradually picked up the pace and is increasing at fast going rate. As the fashion trends change overnight so digital marketing gives better options rather more variety for which the customers just need to surf rather than visiting personally to the shops.
Listed below are 10 digital marketing tips which we can utilise to plan our course of action
1.Well designed website :
User friendly, fast, attractive and well-designed website is the key factor for any Company’s profitability. Designing of the website should be in a way where the user is able to use it both on the mobile as well as any other electronic platform.
Websites are the veins of business where the blood should flow properly or the heart will stop beating; similarly the websites should be customer centric and eye-catching where it becomes necessary to visit at least once. The content of the website should be planned in a way that the website gets good ranking on the search engine and you are able to get more and more visitors on the website. As the website is related to fashion industry it is needless to say it should look attractive. Navigations, filters, full page view etc should be easily accessible for any users.
2. Mobile friendly
Once your website is designed you need to take utmost care that it is easily accessible on all types and versions of mobile phones as today people tend to surf more on mobiles rather than on desktops, laptops etc. This will also help you get more users and get more and more clicks on the websites. On the other hand as most of the companies have mobile apps installing of which on the phones needs to enter customers basic details of mobile number and email ids because of which you can get the details of the customer in order to get in touch for future marketing pitch and leads.
3. Use social media
The connect with the social media not only gets you into touch with large amount of audience but also increase in sale. Various social media platforms have proven that people run a successful business through this medium. This gives you an idea to portray your taste to the masses and get a genuine feedback about your product. Currently every second person in the population is using a smart phone and is active on social media where he spends some time of his day without fail. Regular posts on latest discount or festive offers on the social media will help you get more and more eye balls and visitors on your website which will lead to good business. If the Company is doing good on social media it even gets word to mouth publicity which indirectly increases more audience and turn in good sales.
4 Attach an influencer
Fashion industry cannot prosper without a good and a well-known influencer. Rather we can say fashion and brand ambassador go hand in hand. Fashion industry is the biggest industry which runs with the help of celebrities endorsing their creations. Thus to pick well known influencer whose words leave an impact on the buyers is a must. For those who don’t know, influencers are people who have large fan following and belong to well-known industries like films, sports, politics etc. Their word of mouth has lot of impact on the people’s buying choice. Regular posts of these influencers wearing your products and speaking about them will help boost sales.
5. Take advantage of latest Technologies
Current development in the world of technology has brought a technological revolution. Technology is replacing humans in many fronts and you need to make use of this to help your customers. The latest and best example of this are Chatbots; they are available 24/7 to guide your customers visiting your websites and in case they are not able to guide them further the customer will be leaded to a human customer are representative.Since online shopping has the advantage of availability of 24/7 these chatbots will help guiding your customers through. Hence while you are designing your websites and mobile apps these latest features of Artificial Intelligence should be utilized.
6 Personalised Approach
Purchases are influenced by personal approach. It has been proven by our traditional selling techniques where the shop keepers approach to his customers influences the buyer to buy the product he has chosen and also some times to buy more then decided just because of the approach of the sales person attending him. In the digital marketing world this job is done by the personalised mails, messages with their names. Consumers now a days want the whole approach to be personalised. They want that the seller not only knows what are his preferences but also that the content of the mail and messages to be of his interest. Sending mailers and messages on birthdays and anniversaries also helps creating a personalised touch and makes the customers feel their importance.
7. Upsell to existing customers
The beauty of digital marketing is that you can re target your existing customers/visitors for your new products. Satisfied customers can be soft targets in this where the chances to resell gets higher. Remarketing gives more brank exposure, better success ratio and higher conversion rates. Efforts required for selling an existing customer are lesser then to pitch a new customers.
8.Visuals to show it all
Visuals form a very important part for any fashion Company. The videos, pictures uploaded should be of good quality and perfect by all aspects. Blurr images and shaky videos will create a bad impression of the brand If it is uploaded then it is meant to be seen. It depicts your brand and quality, which definitely influences the customer’s decision to buy. Content again is equally important, the video should contain all the details of the product and the pictures uploaded should show the USP of your product in order to grab the attention of the customer at the first visit.
9. Start a Blog
Another effective technique which is getting popular day by day. Any digital marketing agency will ask you to start a blog post which contains all details of your products. New updates, latest trends with some good pictures and navigations to your website will help you get more audience. These can be in the form of regular posts and can be circulated more when there are any discount festivals going on. Content again is important which needs to be accurate, to the point and not much lengthy as the readers might lose interest and would not like to read the next post.
10. Contest Giveaways
Contests are like icing on the cake for the customers. They help us attract more customers when it comes launching new customers or even when you want to clear a lot of old items with some discounts. Contests or any other kind of rewards definitely helps to boost up sales. It also helps collecting data base as the contest will need to fill in a form where in customer contact details will be a part of the form. Hence same bunch of customer can be a part of future marketing campaigns.
So friends all the above or some of the tips can do wonders for your business. You need to make a wise choice out of the list and keep changing the strategies from time to time as per the changing trend and customer requirement. A set of team members should specially be assigned this task to closely monitor the outcome of a particular marketing plan. This might seem to be a little expensive initially looking at the cost aspect but due to increase use of online purchasing current expenses incurred in digital marketing will help you earn huge profits if implemented smartly and tactfully. We as digital marketers will help you achieve desired results in cost effective budget. Some of the links related to our earlier work is attached below Hope to hear from you soon !!!
Construction companies make imaginative things real. They bring into existence the diagrams drawn on the drawing sheets by constructing the buildings / infrastructure work for an agreed amount decided prior with their clients.
The construction companies are divided into many different categories depending upon the type of jobs they perform. They consist of operating, designing, land acquisition, paper works, financial planning and execution.
Below listed are some of the classified construction companies accordingly to the job they perform;
Small renovation contractors: This category falls into home alterations, office work and small commercial contracts
General Contractors:They are the one who specialize in public works. They are experts in performing alterations with their own force and involve in either alterations or new buildings
Owner/Builder: These companies acts as owner builder in a sense where they build buildings only for their ownership either to sell or rent on completion
Real Estate Developer: These type of owner builders do not only build for personal ownership but also build to sell before or after completion of their construction
Professional construction manager: It comprises of a group of professionals which may include construction superintendents, project managers, accounting personnel etc acting as an agent for the owner. They work as if they are owners own employees
Program Manager: Complete project is managed by this category such as demolition, acquisition of new site, architect hiring, consulting on financing and payment methods, obtaining tenants and even hiring accountants, real estate professionals and management and leasing experts.
Package Builders: These are licensed professionals who design and construct buildings with services of land acquisition as well as financing the project. Generally they prefer their own team and are also able to show prototype to their clients of their previous projects
Sponsor Builder: These are basically government aided or subsidized builders who design, construct, manage and maintain buildings. They also employ attorneys to deal with various institutions and agencies
After having and understanding of the type of construction companies let us move on the marketing ideas of digital marketing for these companies
1. Niche marketing strategy: As the word itself suggests one needs to have a proficiency to stand out of the lot. You need to focus on micro market rather then trying to be jack of all trades and master of none. You cannot provide all things to all people, so focus area should be on a particular market and be the best in what you opt to do. For example a construction company has come up with a new idea of eco friendly homes and is getting popular because of that. Hence the marketing strategy in any area of advertising should be this eco-friendly concept. Links leading to pictures of their existing work on face book and other plat forms will grab the attention of the viewers and will definitely lead to more business
2. Build and update your website: It is needless to say that in today’s fast expanding digital marketing world; website is the most important medium of marketing. Your website should look professional, smooth and efficient. It should comprise of both interactive and educational content. It should contain all the good work done in different areas and your specializations in an easily accessible manner. Using navigation to other pages and hyper links to show videos and pictures of your existing work will help you generate more leads. Timely upgradation of your website as per the current market trend is to be done. Website should be user friendly and easily accessible all types of electronic media. Also your contact details should be displayed on the home page of your website for the customer to contact you easily.
3. Blogs about the latest trend: You can also start a blog on your website and publish content related to development in architecture and construction. Your blogs should form a part of the latest trends in the construction field and also the work you have done in the same areas. The blogs should be regular so that the followers who might be waiting for your upload get to read it in time. It should be designed and posted with all the relevant information for the reader to understand the things you want to convey to your audience. It is needless to say that the content should be authoritative and niche
4. Get into Facebook Marketing : FACEBOOK the most popular social media platform needs to be used to the maximum to portray your work in a smart way so that the followers or readers do not get bored of your content. Facebook is a platform for marketing any type of products due to its huge followers and users. Publishing videos and pictures of your upcoming and completed projects will help you gain a lot of eyeballs. It can also include latest news and trends related to construction in order to interest the clients.
5. Adopting a mobile first marketing strategy: Use of mobile phones is maximum in comparison to any other electronic devices. That is why Google has made its mobile algorithm as its primary algorithm for ranking websites. This does not only mean that your websites are mobile friendly but the mobile campaign you run for marketing should also use SMS marketing, lead generation, marking personalized mailers etc. Hence all the mediums of marketing available on the phone should be utilized in an effective manner.
6. Emerging technology of mobile apps: This is still not that popular but definitely very useful. Mobile apps are revolutionizing the construction industry because of its varied features and uses. Integrated mobile solutions are available to manage all types of construction activities which includes drawing designing, budgeting, material calculation, project coordination, quality assurance etc. Companies which evolve with technologies will survive and one who does not embrace them will lag behind
7 Automate digital marketing: Managing all your work manually is not possible and you cannot continue doing your work in the tradition manner. Switching to automation will ease your life. Writing email sequences and ensuring that feedbacks received are tracked, social media updates on different platforms to be scheduled, integrating messaging with your website. Using CRM software will help keeping track of all the leads generated and will ensure that nothing is missed out
8 Create immersive and interactive experience: Interactive experience are fast replacing the old methods of site visits and sales pitches. Today is the world of Virtual Reality. There are companies who specialise in this type of marketing and you can employ one of them as per your budget These companies provide plug and play solutions to create interactive walls, floor or screens at the booking offices or construction sites. These will help you kick start your bookings. It is for you to decide how you want to utilize these services to the best
9 Utililse multi channel marketing: Multiple options available for marketing and any medium used is called marketing channel. Customers can shift from one channel to another in a blink of an eye. They might have seen your add on Facebook, might visit your website for further details and read your reviews somewhere else. Thus it is necessary for you to remain present on all the channels in order to track the customer and his need
10 Solicit genuine customer reviews: Online customer reviews hold as much importance and relevance as the reviews given in person. Customers now trust online reviews equally unlike doubting them before. Additionally, customer reviews shown in Google search results are in the forms of star ratings to help your business look more attractive than companies without reviews.
Thus to summarise the above points. There are ample of options available for marketing your work but it definitely needs time, money and understanding to utilize the best option as per the need of customers. But you need to ensure that not just by giving money to a digital marketing agency will help you get desired goals but you need to keep a track of the results and keep changing the strategy as per the changing trends.
A dedicated team needs to be employed who keeps a watch on the development in different areas and as to which medium is working well and which not. This team should be responsible to put forward the time to time results in front of the top management and strategise the further course of actions accordingly Digital marketing is a MUST platform which if utilised in a proper manner will do wonders to your business and if not then will lead to loss of money.
Never the less the old methods of distributing brochures and pamphlets in the news paper, hoarding etc holds its importance but if both the forms are combined will lead to excellent results. Catchy names of the building and amenities offered are in trend. A team of people to manage all these important aspects will help you avoid any kind of mess and achieve desired results on every project you undertake
Banking sector is considered to be one of the most vital financial institution for the economy of any country. Banking not only provides services for depositing clients’ money and lend to deserving applicants but also various other types like handling remittance, foreign exchange, business bank assurance, merchant banking etc. For the last few years the usage of online banking is increasing constantly and it requires continuous up gradation.More and more customers are willing to buy online
Digital marketing is winning the race in every sector of the industry, trade and banking sectori is no exception However to sustain in this severe competition it is inevitable to make effective strategies.
So going forward lets pen down 10 tips which the Banking industry should apply to get good results
Insight driven marketing plan
Strategy designed without Customer insight will never be effective. Earlier it was seen that the financial marketers were just speaking about the big data and all but no proper planning was done which could create an impact on the market. With the development in technology new tools are available to analyze the data and form a effective action plan. Most industries are far ahead of financial services with insight-driven marketing. IT is surprising that why banks are not using it for their development in spite that they are having more access to transactional and behavioural data of the consumers than any other industry but has been utilized in a proper manner till date. Thus to be successful insight driven marketing plan is a must using the available resources to the fullest
2 Integration of mobile
Mobile phones and its benefits are well known to all now. More and more people are dependent on their phones and spend most of the time on mobiles now. Online shopping, net banking payment of utility bills etc is done all through mobile phones now. Hence a user friendly mobile app is inevitable now. The designing of the app should be done with utmost diligence keeping in mind the consumers are not much educated or techno savvy; so that all customers should be able to use the app easily. Even the website designed should be mobile friendly and easily accessible.
3 Return on Investment
ROI is the most important feature that drives an investor. Banks need to keep a watch on their returns and whether they are competitive in the market. These rates should be highlighted in their digital marketing medium which they are using. USP’s in this to be highlighted in all the marketing campaigns done on the digital media. The marketing campaigns done should be designed to gauge success and increase its ratio year after year. Customers purchase behavior can be monitored now due advancement in technology and his purchase pattern can be used to pitch him different products on the basis of past returns.
4 Watch the customer’s journey
Traditional methods to pitch the customers is totally out dated now. In a banking industry every customer is having a unique Customer ID which is mapped all his investments and accounts. Hence with this advancement it becomes easier for the banks to figure out the purchasing behavior of the customer. There are specially assigned officers in the banks who keep a watch on the customer’s account and keep pitching them their new products and services. Awareness about customers temperament is very important to get in touch with the customer at the right time else the competitors might take the advantage of the negligence and take away the business and the customer as well at times.
5 Customization and Personalization
Personalised approach to customers is a key to success. Personalised mailers messages on regular updates regarding customers account is very important. The emails should contain all the releveant information and should not be too long else the customer will lose interest in reading the whole mail and will avoid paying attention on future communications sent. Concerns raised by customers on mails or by any other medium should be addressed promptly to the utmost satisfaction of the customer. Benefits of this will lead to loyal customers. Happy customers will lead to more customers as reference through word of mouth also plays a vital role in attracting new customers
6 SEO
Use Search Engine optimisation to get at the top of the search results. Currently the websites are googled on the mobiles more then any other device. Hence you need to ensure that your website is mobile friendly. The more you spend on the SEO the better will be your results on the google page and your website will rank higher and get you passive form of leads.
7 Pay per click advertising
You must be spending a good amount of time and money on SEO results but still the first page of the google is too competitive to give you best results. Hence you can use the Pay Per Click advertising technique. This means for an ad space you pay only if someone clicks on your ads. Same strategy can be applied for YouTube, Facebook and other digital marketing platforms also.
8 Geofencing and IP targeting
Now first of all what is geo fencing? It involves a larger area for online advertising target a bunch of customers who are located in a particular area. Suppose you want to target college students of a particular area where a new college is set up for saving account and other bank facilities where there is not bank located. Likewise IP targeting is placing ads in front of people using certain IP addresses. You can use IP targeting a whole building of an office to an individual suite number.
9 Social Media
Social media is ruling the marketing world and has proved its importance in all the industries. If you create an FB or an Insta Account you can run ads targeting customers of particular age, gender, education level, job title etc. Here also the success ratio of viewership can also be measured looking to the number of views and shares.
10 Content Marketing
It refers to circulating educational and informative materials related to your products to the customers. This can be sent via news letters via emails to customers who also are your existing leads. Every week or month you can choose one topic and make an ebook which contains all the relevant information regarding the product. It can also be circulated in the form of blogs, videos etc.
Advertising is a well know term now. Its benefits are manifold and is one of the most important component of the marketing process. Advertising introduces new products in the market and helps to expand the market which in turn helps to increase sales. It can also be cost effective due to good amount of sponsors coming in. Middle men involvement is reduced to considerable extent as directly a marketing agency is involved in the work.
Currently advertising and media firms are drastically changing. Every day a new development takes place and hence to survive in this competition the advertising agency needs to keep itself updated with the changing trend and increasing competition.
If your current strategy is not working then to get the desired goals then it is time for you to rethink to the approach. The world of marketing is continuously evolving and what strategies worked in the past may not work in future also. Hence below listed are some of the tips which can be used get good results:
Determine you goals : Deciding the goals is the foremost thing to be done. Once you decide what exactly is to be accomplished it becomes easier to determine the plan of action. You need to decide whether you want to increase your social media following? Or you want to connect more with the local community? Or you want to increase your brand name and awareness and boost up sales? Once the exact goal is figured out it becomes easier for the you plan to achieve the same
Identify the target audience: Once the vision is decided it is time to find the bunch of which people you want to target to. You can start your work by forming a profile of your customer. Identifying his likes and dislikes and then form a profile. Suppose you are into business of spices used in the kitchen. Then you need find out the likes of the customers. A well-known chef can be engaged to endorse the spices which is usually done in the current advertisement world Hence here you will be targeting the housewives and the foodies who love cooking. The target audience needs to be determined as per the product you are selling.
Brand image to be kept in mind: Branding needs to be done very carefully as it is the first thing which catches the eye of the viewer and forms an image in his mind when thinks about your company. From logos, corporate colours and the content which will be shown on social media. Also the tag line of your business if catchy will leave a very good impact. For eg Nike a well know brand : “Just Do it” well known for sports shoes; the tag line itself suggests that one should make efforts to remain fit using their shoes. The moment the customer thinks about sport shoes NIKE will come to his mind
Tracking the ad campaigns: Once a particular ad campaign starts you need to monitor the progress. On a temporary basis you can choose one of the varied options to know the response. For e.g. you can create a post on social media and check how many views and what type of comments you get on that post. In case it does not turn out to be good then as such you are not a huge loss as it was published only on one medium and further you can also revamp the same easily or altogether design a totally new ad. Online social media has the option to track the views and feedbacks of the customers hence one should utilise this tool
Accurate timing: You need to be very particular about the timings your advertisements will be shown on the television or when the advertisement is posted on social media. Suppose there is no use of showing the advertisement of restaurant serving breakfast in the evening or at dinner time. You also need to take in consideration when your competitors are publishing their advertisements and accordingly you need to decide your timings in order to get good amount of views and attention of the customers as no one likes to watch things related to same thing over and over again
Seek help wherever needed: Advertising today is a very important and a competitive field. Hence proficiency will be needed in this area. You cannot think to save money where a professional is needed to complete the task effectively. Trying to reduce cost and getting an outcome which is not effective will ruin the actual presentation of the advertisement. When it comes to advertising, quality beats quantity. If you are not a professional video maker then engage a good professional in the field to get the desired results.
Try low cost advertising options : It is not necessary that you need huge budgets to meet your desired advertising campaign. There are various options available now and applying a mix of them and monitoring them will definitely turn out to be effective like online marketing, word of mouth, social media, customer referrals, business cards, news letters, mailers etc. If you have a good content which includes all the key features of your product even a low cost advertising option can do wonders.
Research: A business man knows his customer better than anyone else.You may anticipate that your customers will behave a certain way, when in fact they go in a completely different direction. It’s essential to be prepared for this ahead of time and use the information you collect from research to plan your marketing strategy
Know your Target Audience: You need to decide which buyers you want to target before you want to approach them for marketing. When it comes to digital marketing you need to decide which audience needs to be targeted and also which medium of digital marketing is to be used. It is essential to analyse which bunch of customers spend time on which type of social media.Accordingly advertising camapaigns should be planned.
Provide good customer experience: Customer satisfaction is the key factor for any business house. A satisfied customer also works as a good referral which help you to increase your business. You need to ensure that all your customers are attended promptly and all their concerns are addressed to in the best possible way
Advertising takes time to master and it requires good amount of efforts. Identify which works best for your company and continue on that path, but don’t feel tied to it. As long as you pay attention to your market, your community, your competition, and changing trends, you should be able to keep your advertising relevant and effective in any field of work
Accounting firms for any business house monitors the financial condition of the company and holds a very important position in the finance market. They provide very essential services of tax planning and monitoring the cost and expenses of a business house. On the other hand the marketing department is responsible to manage and develop the sales of any business.
There has been a good amount of competition in this field also. Like any other business accounting firms should also market their business to its existing and potential customers. Big accounting firms who have branches across the country often employ a marketing team and PR specifically assigned the task of monitoring the marketing area of the firm
Strategic Plan: At first instance it may sound very obvious. But it is the first and the foremost thing to be done. Planning and strategizing is the first step towards marketing planning. It should include your marketing target and then SWOT Analysis should be done, which includes identifying the STRENGTH, WEAKNESS, OPPORTUNITIES AND THREATS. Keeping in mind the above points; a marketing plan should be made. Accounting firms are having expertise in certain areas which definitely should be the part of the plan. Weakness to be identified from past experiences and efforts to be made to cover the gap. Opportunities to be created by focusing on the existing customer base and trying to gather their word of mouth about their satisfaction levels. Threats to be identified which may be coming in from the competitors; should be taken care of with precautionary measures taken in advance.
Networking is the key: Networking areas for expanding your business are having many options than before. Now networking is not limited to collecting business cards and distributing your cards. It involves arranging workshops and events and attract the potential customers and highlight your own proficiency areas. Whats app messages play a very important role. Suppose there is any new tax law announced by the Government, then the key pointers can be circulated by putting whats app status and forwarding in groups with proper branding done on the pics circulated. Other social media options are also to be utilised to advertise your expertise and create a brand name in the field
Cloud technology: Cloud technology helps you achieve broader markets then the traditional markets. Cloud based applications are now considered the standard procedure of accounting rather than the old book keeping method. It gives you more security, cost efficiency and more flexibility rather than the traditional methods. If you want to survive against the competitors you need to apply cloud technology which is both safe and cost effective
Be in touch with the customers: “ Be in touch” holds importance in the business world also like in our social life. Once the work is completed you should always have a list of customers you have served. You need to be in touch with all your customers and provide regular updates about your new services and changes coming in the accounting field. This can be in the form of mailers, text messages, whats app messages, news letters etc. Birthday and anniversary wishes also help to create a good connect. Hence what revolves around comes around. You remain in mind of the customer and your name immediately clicks in his mind for reference as well as personal work.
Referrals the added bonus: Satisfied customer will definitely be a medium to get good referrals. Asking for referrals was considered bad earlier but now it is a myth. If a businessman is satisfied with your work he will definitely like to refer you further to his customers. Later the service and prompt revert part lies on you. You need to get in touch with the referrals immediately as in this competition world you may miss the bus in case you delay in getting in touch with our referrals.
Hire a Digital marketing expert: You cannot and should not under estimate the power of digital marketing via medium of social media. Hiring and experts will definitely help as they are experts in the field and will apply the required techniques to help you advertise your business and key areas. Also if one business strategy is not working then amend the plan of action and try to get good results. However the cost part also needs to be considered as per the Company’s budget.
Appointa CRM: A Customer Relationship Manager definitely helps in bridging the gap between the customers and the Company. CRM remains in touch with the customers and provides prompt resolution for their concerns. He also works as a marketing person while interacting with the customers by promoting their areas of expertise. Here you need to be very careful while handling the grievance part. Grievances should be handled with patience and due diligence. A dissatisfied customer will lead to bad impact on the Company’s reputation
Offer free 10 minute consultation: Offering effective free 10 minute consultation does not involve lot of time. But it can lead to paying customers if the first interaction is effective and satisfactory. The framing of 10 minute session needs to be done with utmost care in order to create a good impression on the customer’s mind.
Optimise your website for mobile users: With theincrease use of smart phones and social media you need to design your website which is user friendly and easy to access on mobile phones. Well-designed- website is one of the most attractive feature to attract any customer. Options of sharing and commenting should be there in order to know the concerns and feedback immediately on visit
Brand your accounting firm: Create a good logo, company name, brochures and newsletters. You need to make sure that your material effectively reflects what your firm is capable of doing and how you can be connected to get your services
The effects of good marketing strategy is more than just creating leads into customers; it involves long term connections between your firm and other individuals as well as businesses that help you sustain even during the ups and downs of the market
Marketing for Accounting Firms Accounting firms for any business house monitors the financial condition of the company and holds a very important position in the finance market. They provide very essential services of tax planning and monitoring the cost and expenses of a business house. On the other hand the marketing department is responsible to…