The majority of scholars do not know the difference between finance and marketing. Due to it, they are not able to make the right decision. But all you need to do is get knowledge about the basic difference.
Finance vs. Marketing: What is the difference between both of them?
Finance and Marketing are two different yet essential aspects of any business. Even business is incomplete without appropriate advertisement and finance. In simple terms, the focus of the marketing department is on generating revenue. On the other side, the finance department focuses on transporting this revenue in different activities. It ensures about the maximum growth of the wealth.
Now the question arises in your mind: how are these two different?
Do not worry about the above question; in this article, we will discuss the basics of finance and marketing. Additionally, you get knowledge about different job opportunities in both of these sectors.
So, let’s first focus on the finance basics and jobs in this sector.
Finance Basics
The main general function of the corporate finance function is to develop strategies to fulfill a company’s commitment to maximizing shareholder value. This includes:
- raising and management of capital funds,
- investment decision making
- allocation of profits for reinvestment
- Shareholder dividend payouts.
Finance departments have contribution in the corporate mergers and acquisitions.
Jobs in the finance sector
Usually, when it comes to financing, most people relate it to banking. But, it is not so true.
People seeking a career in corporate finance have several options. Other common finance-related careers include:
- treasurer
- financial analyst
- credit manager
- cash manager,
- benefits officer
- investor relations officer
- controller
All of these positions are related to help a company in development and managing its cash including the financial assets.
Basics of Marketing
Marketing is a significant business function. It involves taking a product from manufacturing or distribution. It also includes the getting into the hands of the final customer. This process typically centers on four main elements, which are known as the marketing mix, or the 4 P’s of marketing that are
- Product
- Place
- Price
- Promotion.
The product is what you are marketing; the place refers to distribution to get the product to customers. Price is when you will market and sell the development and promotion, including the media and tools used to deliver messages to target customers.
Jobs in the marketing sector:
Marketing jobs are quite diverse In addition to that, the employees of marketing team work on marketing goals, building the strategies, and tactics.
Marketing also gets more niche, with jobs in advertising, public relations, research and development, and more specific areas.
After reading the information as mentioned earlier, you get quality of knowledge about finance and marketing. In the end, both of these fields are interesting to study. So, now you can easily choose one of them for your future.
