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Essay / The importance of tacit knowledge in marketing strategies
Some knowledge can be transferred using the computer system. However, some knowledge cannot be written down, but can only be transferred using a give-and-take process whereby participants develop, over time, an understanding of the complexities involved in a situation. The tacit knowledge used allows the company to apply important knowledge to operational activities, resulting in improved efficiency, value creation and better financial performance. A key factor in the success of tacit knowledge transfer is the development and use of social networks. The importance of tacit knowledge can be seen in various contexts in marketing strategies. This can be observed from the personal and social sales context as well as the marketing success context. First, tacit knowledge can be examined in the personal selling context and social networks. Salespeople must develop an ability to integrate both into the broader social structure of their own organization and into the social structure composed of their customers. The company needs to focus more on maintaining its relationship with the current customer. Salespeople are generally accountable to the customer since they are the ones who interact directly with the customer. The lack of training programs addressing relationship issues internal to the organization leads to salespeople never understanding the need to develop internal social networks or having sufficient training in the skills needed to develop and maintain such relationships. The exchange of tacit knowledge requires frequent, personal interactions between the people involved. Many researchers have pointed out that communication between sales and marketing offers unique opportunities to reap significant benefits. The exchange of tacit knowledge in the middle of the document......the relationship between the exchange of tacit knowledge and marketing success, the exchange of tacit knowledge is said to influence marketing success. The tacit knowledge shared by salespeople provides marketing decision-makers with a deeper understanding of the market and the customer, allowing them to make more informed decisions. Management must build a culture where colleagues are trusted and there is quality cross-functional communication. is a norm, social networking between marketing is common, and the exchange of tacit knowledge between sales and marketing is valued. To create this environment, two mechanisms are proposed. First, managers should increase the opportunities sales and marketing have to develop social connections. Second, managers, especially senior management, must support the development and maintenance of such a culture..