The Marketing Department is charged with the responsibility of promoting the sale of goods and to undertake measures for the prevention of damage to or theft of those goods. They are also responsible for ensuring that the preparation of accounts and records is accurate and free from errors. They prepare the accounts payable to the Accounts Receivable Department and the Accounts Payable Department on behalf of the seller. They ensure that payments are made to customers for the purchase of goods and facilitate collection by the Accounts Receivable Department, when payments have been received. For this purpose they draft the accounts payable procedures and prepare the related documents.
The Marketing Department is responsible for ensuring that the preparation of periodic reports on the performance of the advertising campaigns is accurate and timely. For this purpose they prepare the annual report, the consolidated annual report and the one-year report. They also undertake the research needed for the development of statistical material relating to the marketing activities of the company. They adopt a strategy for the improvement of the marketing services and implement measures for achieving the objectives for the improvement of the marketing services. In order to achieve their objective they undertake research, conduct seminars and workshops, and submit annual reports in accordance with the requirements of the Government.
The Marketing Department is responsible for protecting the interests of the company in the interests of consumers. For this purpose they formulate the policy on the competition law, prepare guidelines for the conduct of advertising and ensure compliance with the provisions of the law, in order to prevent disturbances in the market. They formulate the marketing strategy for the company and take decisions in order to minimize the chances of a company being sued for acting negligently. For this purpose they adopt the following procedures:
The Marketing Department also ensures that all the procedures, differences in methods of operation, and information required by the company are updated on a regular basis. For this purpose they issue publications, send out announcements to the media, and make other arrangements designed to inform the public about changes in their business practices. For this purpose they are authorized under the Act on Marketing to issue a press release or other communication designed to influence decision makers to take a certain decision in regard to the performance of the company. These include decisions concerning prices, staffing, distribution, and financing. If these decisions go against the interests of the company then the Marketing Department can take steps to ensure that these developments in the financial markets are not communicated to the public through the published press or otherwise.
In order to ensure that all the procedures, differences in methods of operation, and other information required by the company are all making available to all the stakeholders, in the case of new establishments in the financial markets, it is necessary to develop a procedure manual. This manual is issued by the Marketing Department to be reviewed every year. This document contains all the information regarding the Company and the issues it has to face in order to operate successfully.
This information may include anything that concerns the marketing system, including the formulation of marketing campaigns, marketing research, analysis, and evaluation of the strategies that have been undertaken so far. There are also various other areas of responsibility that are included in the procedures manual. This manual is designed to ensure that the goals of the company are being attained and maintained as well. The procedures may be divided into specialized manuals for different departments such as human resources, sales, advertising, and development. These departments collaborate with one another in order to achieve common goals. Every department within the Company is responsible for its own procedures in order to ensure uniform application of paragraphs 1 to 5 and to avoid confusion among the stakeholders.