Knowledge Management for an Effective Sales and Marketing Function
In the last decade, knowledge management has been receiving managerial attention particularly in the post-Internet era. With advancements in information and communications technologies, the incentives to manage knowledge have far surpassed the costs associated with it. The sales and marketing (S&M) function is one of the important functions in an organization with a unique blend of internal and external stakeholders to cater to. Another unique feature of knowledge management in the S&M function is that it lies on the interface of the organization with its customers. Therefore, information that comes into the organization through sales and marketing employees is often collected, filtered, and assimilated in different forms and with time lags. This chapter is aimed at familiarizing the readers with the importance of managing a continuously churning ocean of knowledge in the S&M function. We address various knowledge management issues and opportunities in the context of S&M and recommend a set of guidelines to enable managers increase the effectiveness of the S&M function by using appropriate knowledge management tools and strategies.