Marketing Mix and Business Intelligence

This assignment delves into the relationship between the marketing mix and business intelligence. Students are expected to analyze various scholarly articles that discuss the marketing mix's role in driving business insights and decision-making. The focus is on understanding how data analytics can be leveraged within the framework of the 7Ps (product, price, place, promotion, people, process, physical evidence) to enhance business performance. Case studies and contemporary examples will illustrate practical applications of this concept.

MARKETING ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
a) key role and responsibilities of marketing functions..............................................................1
b) Role of marketing in wider organizational context................................................................3
c) Role of marketing in marketing environment.........................................................................4
d) Significance of interrelationship between marketing and other functional units...................6
e) Key elements of marketing functions.....................................................................................7
LO 2.................................................................................................................................................8
1) Marketing mix in marketing planning process.......................................................................8
2) Different tactics applied in organization in order to achieve objectives...............................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is considered as managerial process that supports in promoting and selling of
products. In the modern era it is difficult for entities to sustain so these firms have to implement
effective marketing strategies so that it can increase awareness of people and can promote brand.
It helps in generating revenues in the business unit and gaining competitive advantage. Present
study is based on Coconut Bliss Company (Concepts of Marketing, 2017). It is the food firm
which is engaged in Business 2 consumer business. Annual turnover this firm is 5000000/yr. It
has employed 11 employees those who put their hard efforts to accomplish goal of the
organization.
Current assignment will discuss role and responsibilities of marketing function.
Furthermore, it will analysis the responsibilities of marketing in context of marketing
environment. Relationship between marketing function and other functional units will be
explained in this report. In addition, marketing mix of Coconut Bliss will be described. Different
tactics applied in the organization will be evaluated in this study.
LO 1
a) key role and responsibilities of marketing functions
Marketing plays significant role in the organizations. In the modern business world firms
are facing huge difficulties. In such condition they have to struggle a lot in order to meet
with their objectives. Competition is high and if entities are unable to market their products
well then it will get failed to sustain in the market for longer duration. Marketing has
become the only way through which corporations can promote their brand and can make
people aware with the products and services of entity. Coconut Bliss company is operating
its business in the food industry (Rind, Subhpoto and Sheikh, 2017). There are other firms
which are providing extremely well services to consumers. It is necessary for the cited firm
that to circulate message in effective manner so that more people can get to know about the
Coconut Bliss Company. It will support the enterprise in creating vale for consumers and
attracting new customers towards the brand.
Marketing is the managerial process and set of activities through which entity can
exchange its products and can gain more profit. Role and responsibilities of marketing
functions are as following:
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 Marketing function of Coconut Bliss Company plays the role of researcher in the
organization. Marketing team conduct research and try to find out current trends
and situation of the market. It helps the firm in designing such products which can
fulfil needs of consumers. Proper research assists in identifying requirements of
consumers and providing them goods and services as per their requirements
(Kureshi and Thomas, 2014).
 Marketing function is responsible for promotion of the brand. Trough marketing
managers of the firm become able to market their products and spread brand image
of Coconut Bliss Company across the world. In the absence of effective marketing
strategy entity cannot attract new consumers and cannot make them loyal towards
the brand. Thus, marketing function plays role of promoter that help the cited firm
in building unique brand image (Cobb-Walgren, Pilling and Barksdale, 2017).
 Marketing function of Coconut Bliss Company plays the role of innovator.
Through marketing company gets to know about market trends and it brings
innovative idea in the workplace through which it can earn more profit and can gain
competitive advantage. Marketing department of cited firm works for promotions
and improvements in the business unit so that consumer can retain in the
organization for longer duration. This innovative ideas support the firm in meeting
with the expectation of the consumers and accomplishing goal of organization (Fan,
Lau and Zhao, 2015).
 Marketing is responsible for increasing sales revenues of an entity. It is
responsibility of marketing function that to understand needs of customers and
identify their specific requirements. One of best way to coordinate with customers
is direct communication with buyers. By coordinating directly with clients of
Coconut Bliss company, cited firm will get to know their expectation and it will be
able to provide them satisfactory goods and services. That will support the firm in
attracting new buyers and increasing sales revenues of the corporation to great
extent (Bunker, 2015).
 Through marketing functions manager of Coconut Bliss Company can forecast
future risk that can impact on its operations. On the bases of these risks they can
make strategic planning so that company can run its business for longer duration
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for longer duration. It develops communication between various departments so
that other functions can also meet with their short term objective. It can help in
minimizing errors and improving performance of the organization.
b) Role of marketing in wider organizational context
Marketing is the set of activities which are undertaken by firm in order to increase
profitability of the organization. In the modern era marketing has become very important
part of business units. It supports in exchanging goods and services with consumers and
making them loyal towards the brand. Market is changing continuously in such condition it
has become essential for the firms to make necessary changes in order to conduct operation
according to market condition (Kureshi and Thomas, 2014). Marketing plays role of
innovator in the Coconut Bliss Company because with the assistance of marketing
activities entity get to know about market situation and it brings creativity and innovative
ideas in workplace so that t can improve its operations. It supports he cited firm in
attracting new buyers and retaining them in the entity for longer duration.
Marketing plays significant role in the recent era, it serves as engine of economic
development. It acts as developer because with the help of this tool Coconut Bliss
company get to know specific needs of buyers and entity has developed its products and
services in order to meet with these requirements of customers. This has supported in
increasing profitability of business unit and developing economic condition of the firm.
Furthermore, marketing is the key concept through which Coconut Bliss company can
identify and measure performance of competitors and their strategies (Ratiu and Avram,
2013). In the increasing competitive environment it becomes difficult for the firms to
sustain in the market. But through marketing Coconut Bliss Company can measure the
strategy of other brand and it can make changes in existing strategies so that it can
accomplish its goal soon.
Marketing plays the role of communicator in wider organizational context. With
the assistance of specific marketing activities, Coconut Bliss Company can be able to
produce internal and external communication. By this way marketing manager of the firm
can coordinate the market research report with other departments and employees. By this
way other functional unit will be able to make necessary changes in their operations
through which entity can meet with its organizational goal soon (Siriwardana and et.al,
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2016). Apart from this, with the assistance of this tool firms can make their employees
understand with market condition, so that people coordinate with customers accordingly
and provide them products and services according to their requirements.
Monitoring progress and managing social media is another role of marketing in
wider organizational context. Social media has become the major source of
communication. With the help of this tool entities can make communication with mass
audience and can spread the message across the world. By this way entity can attract new
buyers and can make them loyal towards the brand. (Concepts of Marketing, 201) Social
media is the tool that helps in getting immediate feedback about products and services.
Consumers can give their comment on these sites. That supports in analysing loop fall in
the operations and making necessary changes in the working process so that overall goal of
Coconut Bliss Company can be achieved.
Marketing plays the role of visionary in the business unit. Through Marketing
corporations can make vision and can develop new strategies for the growth of the
organizations. Coconut Bliss company is currently earning good revenues but for compete
with the modern big organizations, it is essential for the cited firm that to market their
products well and meet with the expectations of the consumers. It is the only way through
which organization can gain success and can sustain in the market for longer duration.
c) Role of marketing in marketing environment
There are many forces which direct or indirect impact on the business environment of the
firm. Some of the forces are those which are uncontrollable but some factors are related
with the internal environment of the firm and entity can make effective control over it.
Macro and micro are two marketing environment. Micro environmental factors are related
with internal working of the entity such as suppliers, employees, machinery available to
the corporation, stakeholders etc. On other hand Macro environment is related with
external environment. These are such components which are beyond the control and these
affect entire industry to great extent (Turner, 2016). Changes in macro environmental
factors impact on the business unit and in such condition firm has to modify its operations
immediately.
Marketing environment is made up with the combination of internal and external
factors. Both these components affect ability of the firm to establish relationship with its
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consumers. Customers are the life blood of the corporation. If it gets failed to build strong
relationship with these buyer then it would be difficult for the organization to sustain in the
market for longer duration. Through marketing Coconut Bliss company can identify its
internal market position (Ratiu and Avram, 2013). That supports the firm in measuring the
factors which can be opportunity or threats for the organization. With the help of this tool,
Cited firm can hire new staff members those who have required skills to deal with
customers well. Apart from this, Coconut Bliss company can also make good strategy
through which corporation can utilize its resources well and can sustain in the market for
longer duration.
Furthermore marketing plays role of researcher that helps in identifying needs of
stakeholders and customers. Hat supports in fulfil these needs by offering them goods and
services as per their requirements. With the assistance of marketing cited firm can identify
future requirement of the firm and can meet with this requirement. On other hand
marketing plays significant role in external or macro environment as well. Government can
make changes in legislation any time. Through marketing Coconut Bliss company can
identify or forecast future changes (Fortenberry Jr and McGoldrick, 2016). By this way it
can modify its operations or can make contingency plan for face such sudden situations.
There are many big firms those which are taking support of advance technology which
support the entity in improving efficiency level of the company. By this way entity can
offer quality food and services to its valuable buyers. Through marketing cited firm can
identify these technical equipments and can implement in the workplace effectively.
Micro marketing environment in the Coconut Bliss Company is responsible for
product planning, promotion and distribution. That helps in spreading brand image of
entity across the world. On other hand macro environment of marketing is concerned with
the utilization of resources and effective performance of functions. These macro factors are
beyond the control and it can impact on ability of the firm to perform their work in the
market effectively (French and Russell-Bennett, 2015). Thus, through marketing Coconut
Bliss Company can analysis its internal and external market position and can make strategy
in such manner so that cited firm can accomplish its goal soon.
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d) Significance of interrelationship between marketing and other functional units
There is significant difference between marketing and selling. In the modern era it is
essential for organizations that to implement concept of marketing in workplace in order to
obtain their goal. Coconut Bliss company has many departments and all these functional
departments perform their work together. It supports the entity in meeting with its
objectives. Various functional units of Coconut Bliss company are such as ; finance,
operation, human resource management, customer service, production, IT department etc
(Li, 2015). There is significant interrelationship between marketing and other functional
units. Through marketing Coconut Bliss company get to know about market condition,
recent trends, consumer perception and their needs. By this way entity becomes able to
share this information with production departments. After hat production team makes
necessary changes in their operations so that it can meet with the requirements of
consumers. Apart from this, they can improve quality of the products and can provide wide
range of goods and services to end users. In the absence of marketing, entity cannot be able
to collect such relevant information about the customer and market and it will not be able
to improve production quality. On other hand, there is strong relationship between
marketing and finance department (Ratiu and Avram, 2013). Through marketing Coconut
Bliss company gets to know which investment will give high return. Thus, firm can
allocate resources well and can utilize monitory resources effectively. It can support the
cited firm in minimizing unnecessary cost and increasing profitability of the organization.
Human resource is another most important functional unit of the organization. It
is the department which look upon the recruitment, training, professional development of
human resource in the workplace. Company hires skilled employee’s hose who can serve
best the buyers. Marketing manager gives necessary information to HR department about
future requirement of employees in Coconut Bliss Company. By this way HR manager
recruits new candidate and give them training. After getting training employee get to know
about needs of consumers (Turner, 2016). This information gained by them through
marketing function. After that employees become able to deal with customers accordingly
and fulfil their desires. In the absence of marketing function Coconut Bliss company
cannot be able to manage their team well. It also supports in identifying needs of workers
and their satisfaction level. By this way corporation can provide reward and recognition to
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workers in order to enhance their satisfaction level. By this way skilled employee will
retain in the organization for longer duration. This interrelationship between marketing
department and human resource department supports the firm in accomplishing goal of the
company and retaining skilled employees in the workplace for longer duration
(Siriwardana and et.al, 2016).
Customer service department is another functional unit of Coconut Bliss
Company. Through marketing entity can get to know needs of buyers and can offer the
products and services that can meet with their requirements. By this way complains of
clients will get minimized and satisfaction level of consumers will be improved. It will be
beneficial for the entity to enhance positive brand image and retaining customers in the
workplace for longer duration (Laurell and Parment, 2015).
e) Key elements of marketing functions
Marketing is related with number of different activities that support the firm in designing
of products and making effective pricing strategies. It supports the entity in attracting new
consumers and promoting the brand in effective manner (Bunker, 2015). There are several key
elements which are related with the marketing of the company which need to be considered by
Coconut Bliss. These are explained as below:
 Research: If entity wants to expand its firm across the world and want to gain more
profit. Then it is essential for the Coconut Bliss that to conduct proper market
research. This can support in gathering in depth detail about the market condition so
entity can modify its operations accordingly (Cobb-Walgren, Pilling and Barksdale,
2017). It helps in making effective strategies for improvement in the business unit. It
is interrelated with other functional unit of the organization because by conducting
proper research cited firm will be able to inform its other departments and they will
be able to design products as per the requirement of consumers.
 Strategy: It is another most important element of marketing that supports the firm in
accomplishing its objective in effective manner. Once entity has collected all data
from research then it is required to make strategy to improve business performance.
By conducting market research Coconut Bliss can identify its market position and
can make new strategies for the growth of the organization (Fan, Lau and Zhao,
2015). It is interrelated with the other functional units because by making effective
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strategies overall revenues of the firm will get increased. It will impact positively on
the financial departments and cash inflow will get raised. Apart from this by making
proper strategy production department of Coconut Bliss will be able to design new
products which can satisfy consumer's needs.
 Planning: It is most important key element of marketing. It supports the marketing
manager in making strong planning so that overall goal of the firm can be
accomplished. Marketing department of the entity keep monitor the progress and
compare actual performance with expected performance (Fortenberry Jr and
McGoldrick, 2016). It helps in making planning through which entity can meet with
its objective within stipulated time duration. Planning is interrelated with pother
departments of Coconut Bliss because strong planning supports in achieving goal of
the firm and minimizing wastage of resources.
 Tactics: It is another most important component of marketing, top authorities make
tactics in order to achieve short term goal of the firm. Sales tactics, marketing tactics
have been developed by that Coconut Bliss can increase its sales revenues. Finance,
human resource and production department is interrelated with this element (Kureshi
and Thomas, 2014). Because it supports in identifying how many new people are
required in the business in future in order to complete their goal. Furthermore,
through tactics cited firm can improve productivity and profitability of the
corporation to great extent.
LO 2
1) Marketing mix in marketing planning process
Marketing mix are the controllable tools that are used by the firm in order to get desired
output. It supports the entity in reaching to the target market and satisfying consumer's needs.
There are many food firms those which are operating in UK. Coconut Bliss is operating its
business in the same industry, it is facing huge competition. Different food firms are applying
different marketing mix tactics (Laurell and Parment, 2015). McCain is the biggest competitor of
Coconut Bliss. Comparison of both these firms are as following:
Product:
It is considered as one of the most important part of business unit. With the help of
satisfactory products and services entity can attract new consumers and can retain its clients in
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the workplace for longer duration. Range of products and quality of products impact on the mind
of consumers to great extent (Li, 2015).
Coconut Bliss offers wide range of food products and services to its consumers. It
provides ice cream, dessert products to its valuable guests. Apart from this, it provides fast
services to consumers and also gives home delivery option to its clients. On other hand
Marketing mix products of McCain is differed from the Coconut Bliss (How to use the 7Ps
Marketing Mix?, 2017). This offers frozen food,, pizza, fast food items to its consumers. It uses
core ingredient in its foods such as potassium, vitamin c. It helps the help in attracting new
customers towards the brand to great extent.
Place
It is another essential aspect of marketing mix, if entity is unable to operate its business at
suitable place then it will fail to meet with its short term and long term goal. Place plays
significant role in the business unit. If branch of the company is at suitable place then it will be
able to attract new consumers because it will be easily visible .
McCain foods is the international organization, which has many physical stores at many
locations worldwide (Marketing Mix Of McCain Foods – McCain Foods Marketing Mix, 2017).
Due to its vast network it is able to serve mass audience. That is the main reason the cited firm
has large number of customer data base. McCain Food is engaged in B2B business where it
directly deals with other business. It does not deal with customers directly.
On other hand marketing mix place of Coconut Bliss is differed from McCain food.
Entity is engaged in B2C business where it has to deal with guest (Li, 2015). For that cited firm
has opened branches at most visible place where people can come easily. It supports Coconut
Bliss in attracting target audience and increasing sales revenues of corporation.
Price
It is another marketing mix, price impact on the mind of consumers to great extent.
Coconut Bliss offers product and services at affordable cost. It implements price skimming
strategy in which cited firm keep low price at the initial phase. Once people get to know about
the company and its products then it increases its prices of food products. It supports the firm in
sustaining in the market for longer duration (French and Russell-Bennett, 2015).
On other hand McCain food offers products and services to high cost. Most of the food
items of entity are nutritious and versatile. It implements value added pricing policy, if individual
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wants more luxurious food than person has to pay more price but if individual requires normal
food then customers has to pay nominal charges. This value added pricing policy support the
firm in attracting customers and retaining them in the workplace for longer duration (Ratiu and
Avram, 2013).
Promotion
It is most important part of marketing mix, it supports the firm in promoting their brand
and developing brand image. Coconut Bliss takes support of print media in order to promote its
products. Apart from this cited firm also use social networking sites, as it has to deal with
customers so it uses Face Book, Twitter in order to coordinate well with consumers. By this way
it promotes its brand in effective manner (Rind, Subhpoto and Sheikh, 2017).
On other hand McCain adopts above-the-line and below-the-line promotional technique's
ion order to promote its products in the market. Through promotional campaigns, advertisements
cited firm attract new consumers and make them aware with the brand. It also uses traditional
promotional tools such as television, radio, newspaper etc (Siriwardana and et.al, 2016).
2) Different tactics applied in organization in order to achieve objectives
There are various applied by Coconut Bliss in order to accomplish goal of the organization to
great extent. These tactics support the firm in sustaining in the market for longer duration and
increasing its profitability. Before making tactics entity is required to identify positive and
negative aspect of particular strategy. Because in the absence of proper research it can get failed
to meet with its organizational goal (Turner, 2016).
Coconut Bliss is conducting its business in the food industry, this sector is facing huge
competition. There are many successful brands those which are providing luxurious services and
products to customers. These are such as KFC, McDonald etc. in s high competitive environment
it becomes difficult for the organization to sustain in the market for longer duration. It is possible
by designing effective tactics. Coconut Bliss apply price skimming policy in order to attract new
customers towards the brand (Concepts of Marketing, 2017). It is considered as one of the best
policy because in this entity offers lower price products to customers in the initial phase. Once
people gets satisfies with the brand then it increases its cost. It supports the firm in retaining
clients in the workplace for longer duration and making people loyal towards the brand. On other
hand due to this pricing strategy Coconut Bliss is unable to generate high revenues like other
corporations such as McDonald, KFC etc.
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Apart from this Coconut Bliss adopts social media marketing strategy in order to promote
its brad across the world. Company has aim to enhance its revenues and gaining competitive
advantage (How to use the 7Ps Marketing Mix?, 2017). For that it is essential to build strong
connection with clients. Through Facebook, Twitter entity communicate with consumer and try
to find out their needs and requirements. It builds relationship with them. By this way entity
provide them food products and services as per their requirements. It is the great tactic that
support the cited rim in gaining competitive advantage and increasing its profitability.
CONCLUSION
From the above discussion it can be concluded that marketing plays significant role in the
success of the organization. Effective marketing strategy support the firm in increasing sales
revenues and sustaining in the market for longer duration. Marketing plays role of innovator and
monitor in the entity. Through marketing corporation can conduct market research and can
collect information about needs of consumers. It aids in providing satisfactory services to clients
and making them loyal towards the brand. From the study it can be articulated that marketing
mix is important for the growth of business unit. Selection of effective strategies of promotion
firm can meet with its organizational goal easily.
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REFERENCES
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Kureshi, S. and Thomas, S., 2014. Cause Related Marketing-An Indian Overview.
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Online
Concepts of Marketing, 2017. [Online] Available through:
<https://www.marketing91.com/concepts-of-marketing/>.
How to use the 7Ps Marketing Mix?, 2017. [Online] Available through:
<https://www.smartinsights.com/marketing-planning/marketing-models/how-to-use-the-
7ps-marketing-mix/>
Marketing Mix Of McCain Foods – McCain Foods Marketing Mix, 2017. [Online]. Available
through <https://www.marketing91.com/marketing-mix-mccain-foods/>
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