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Key Roles and Responsibilities of Marketing in Business Management

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Added on  2020-06-04

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Key roles and responsibilities of marketing function 1 P2 Roles and responsibilities of marketing in wider context3 TASK 25 P3 Marketing mix strategy of Wilkinson and Next PLC5 TASK 39 P4 Marketing plan of Wilkinson company 9 CONCLUSION 11 REFERENCES 12 13 INTRODCUTION In old time, companies were not giving much attention on the customers. Marketing is considered as one of the most important functions performed in organisation as itplays significant role in the success of business.

Key Roles and Responsibilities of Marketing in Business Management

   Added on 2020-06-04

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Table of ContentsINTRODCUTION...........................................................................................................................1TASK1 ..........................................................................................................................................1P1. Key roles and responsibilities of marketing function...........................................................1P2 Roles and responsibilities of marketing in wider context .....................................................3TASK 2............................................................................................................................................5P3 Marketing mix strategy of Wilkinson and Next PLC............................................................5TASK 3............................................................................................................................................9P4 Marketing plan of Wilkinson company.................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12.......................................................................................................................................................13
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INTRODCUTIONIn old time, companies were not giving much attention on the customers. When thisconcept of marketing get popular, every organisation made a separate department for this work.Marketing is considered as one of the most important functions performed in organisation as itplays significant role in the success of business. It assist and an enterprise in expanding theirbusiness. It starts from identifying the needs of customers and ends with earning their loyalty(Al-Ekam and et .al., 2012). Wilkinson is one of the oldest companies that operates in the retailsector. They are running their stores in more than 387 locations. This report will discuss aboutthe roles and responsibilities of marketing along with discussing the interrelation of this functionwith other departments of organisation. Marketing mix adopted by different organisations willalso become the part of this file. At the end, it will cover formation and evaluation of basicmarketing plan for enterprise.TASK1 P1. Key roles and responsibilities of marketing functionThe main reason of existence of this department is to grow the business of organisation.They perform various activities so that they can achieve company's short and long term goalswhich have either direct or indirect connection with their mission and vision. An enterprisemakes different divisions so that they can get specialised knowledge about a function andminimise the risk of confusion. Following are some main roles and responsibilities:Market planning – They play a significant role in planning future strategies of growingbusiness. They make plans for launching of new products or services (Wirtz, 2012). Theyascertain details relating to finance and other resources that will be needed at the time ofimplementation of program. An organisation cannot start new things without having properdiscussion with Market research – Wilkinson is working in the retail sector. They have many competitorswho are trying to capture industry by adopting various types of strategies. Marketing function isresponsible for recording and then analysing their tactics so that they can offer their productsaccordingly. It is their role to understand the daily needs of society and then sell suitable items intheir stores. Research provides necessary information and assistance to other departments likefinance, human resource, etc. (Mihart, 2012)1
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Advertising and promotion – Nowadays, there are various options for promoting a brandand its product in the market. Marketing function play a crucial role in selecting an appropriatemethod of advertisement so that they can get connected with more number of customers. Theyare responsible for promoting a positive image of company in industry and deliver moreinformation about the items which they are selling in their stores (Raj, Walter and Rashid, 2012).Normally, people forget about a brand or their commodities when they do not see or hear itsname for a long time. Marketing function is accountable to keep the name of organisation inmarket so that they can buy a place in the minds of customers. Wilkinson has a unique identity inthe market. They can spend more money on television and internet advertisement. Product distribution – Some commodities have high demand in some areas while othershave low demand in the same regions. Marketing function is responsible for sending rightproducts at the right place so that company can increase their sale and reduce wastage ofresources. They organise facility for proper transportation and so, in order to assure propertransition of goods. They have stores in around 360 locations which receive goods throughvarious modes of transportation (Mihart, 2012). Identify target markets – This division of an organisation plays an important role inselecting appropriate market where they can launch their products or open their store. They haveto determine basic factors like income and culture of customers so that they can earn maximumamount of revenue within short period of time. In general case, managers of various departmentsincluding marketing faces confusion for this issue. But this function helps them to ascertainspecific goals which have to be attained within fixed time period. Instead of opening more stores,Wilkinson is getting more attention to their existing targets.Customer support – It is the responsibility of marketing function to solve problems ofcustomers by interacting with them in regular interval of time. This will also help company infinding their future needs which can make a positive impact on the business of organisation. Monitoring and managing social media – Social media has the capability to increase ordecrease sale of an enterprise. It is the function of marketing department to promote their brandand stores on social networking sites and remove complete negative information which is presenton internet. Their role in analysing taste and preferences of customers is significant becausepeople write their experiences regarding a product (Puddle, 2015). It can also help a firm infinding and evaluating strategies of other players of this industry which is important in the2
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