Topic > The importance of tacit knowledge in marketing strategies

Some knowledge can be transferred using the information system. However, there is some knowledge that cannot be written down, but can only be transferred using the process of give and take through which participants develop over time an understanding of the complexities involved in a situation. The tacit knowledge used enables the firm to apply relevant knowledge in operational activities, which results in improved efficiency, value creation and better financial performance. A key factor for the successful transfer of tacit knowledge is the development and use of social networks. The importance of tacit knowledge can be seen in various contexts in marketing strategies. It can be observed from the personal selling context and social network, as well as the marketing success context. First, tacit knowledge can be examined in the personal selling context and by the social network. Salespeople must develop the ability to integrate into both the broader social structure of their organizations and the social structure composed of their customers. The company needs to focus more on maintaining the relationship with the current customer. Salespeople are usually accountable to the customer since they are the ones who directly interact with the customer. The lack of training programs that address relationship issues internal to the organization leads salespeople to never understand the need to develop internal social networks or may not have sufficient training in the skills needed to develop and maintain such a relationship. 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 gain considerable benefits. Tacit knowledge exchange i...... middle of the paper ......the relationship between tacit knowledge exchange and marketing success, tacit knowledge exchange is said to influence marketing success. The tacit knowledge shared by marketers brings a deeper understanding of the market and customer to decision makers in marketing, enabling them to make more informed decisions. Management must build a culture of trusted colleagues and quality cross-functional communication. is a norm, social networks between marketing are common and the exchange of tacit knowledge between sales and marketing is appreciated. To create this environment, two mechanisms are suggested. First, managers should increase the opportunities sales and marketing staff have to develop social connections. Second, managers, especially those in upper management, must provide support for developing and maintaining this culture.