What Role Does Financial Information Plays In The Formulation Of Marketing Strategy?

Financial Information basically comprises of Financial statements and reports. It includes Balance sheets, income statement, statement of retained earnings, cash flow statements etc.

The information contained in these documents is very important for the company as a whole and for the marketing department in particular. It lets the company know how a product is faring currently in relevance with the expenditures on that product. Subsequently, the management can decide to increase the marketing and promotion budget of that product. If the financial figures have been declining for that product, they can decide to cut off the marketing budget due to its non-viability.