Elements of the Marketing Mix - Doc
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Added on 2019-12-18
Elements of the Marketing Mix - Doc
Added on 2019-12-18
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Marketing Essentials1
TABLE OF CONTENTSINTRODUCTION......................................................................................................................3TASK 1......................................................................................................................................4P1) Key roles and responsibilities of marketing functions....................................................4P2) Roles and responsibilities of marketing relate to the wider organisational context........5TASK 2......................................................................................................................................7P3) Ways in which organisations use elements of the marketing mix (7Ps) to achieveoverall business objectives....................................................................................................7TASK 3....................................................................................................................................10P4) Developing and evaluating a basic marketing plan......................................................10CONCLUSION........................................................................................................................11REFERENCES.........................................................................................................................122
INTRODUCTIONMarketing refers to management process that is accountable for identifying andfulfilling customers' requirements to maximize profit earning capabilities of organization. Itis useful to achieve long term sustainability of organization and product that affects demandfor products and brand loyalty. Therefore, marketing is considers as a concept of launching,advertising and sustaining products as per which further decisions are made for futurebusiness operations to improve quality services of entity. The growth of the pet foodindustries since the twentieth century has been continuing its trail owing to the increasingpopulation of the pets. The improving quality of pet foods has become one of the majorconcerns of these pet food manufacturing industries operating in the UK market. In thisreport, the marketing essentials needed for the launching of a new product for a new companyin UK, Pet Care has been broadly elaborated for introducing its cat food product Feline Feast.The cat food sector has reached to 209,000 tonnes with a 1% rise in volume (Pet BusinessWorld, 2016). This necessitates the implementation of effective business measures tounderstand the market and formulate plans accordingly to launch its new product and gainmarket recognition. On behalf of the marketing manager of the Pet Care Company, a newmarketing strategy has been presented with a detailed report and PowerPoint presentation tomake the new Pet food company a big success in the business market of UK. TASK 1P1) Key roles and responsibilities of marketing functionsMarketing functions are a collection of activities that are conducted by the businessorganisations to carry out a well-designed marketing plan on which all the business actionswill be based (Becker and Gerhart, 1996, p.790). The market manager needs to find out theimportant factors that are required to conduct an effective product launching strategy andformulate a marketing strategy. As the sphere of the business is not directly related to thecustomers, who will be purchasing the products, it becomes an added responsibility for themarketing manager to strategies plans in order to attract the consumer market. The main aim of the marketing functions is to analyse the market in which thebusiness is operating and the product will be launched. The gathering of market informationand analysing them becomes a vital step to design the products according to the marketdemands. As the human beings are the customers here and not the consumers, the productsneed to be designed keeping in mind the inclusion of the essential ingredients to benefit thepets, especially the cats in this context. The designing of the products are done considering3
what is demanded by the consumers and the setting of the prices of the products inaccordance to the market rates. Marketing functions also helps in the determination of theadvertising strategy of the new products that will grab the attention of the consumer market(Lewer, 2013, p.644). Marketing planning is another aspect of the marketing functions thathelps the company to achieve its objectives and fulfil their targeted plans. This leads to thedesigning of the products incorporating the essential elements in the products that will servethe best foods for the pets. The products need to be developed maintaining the standards fixedby the authoritative bodies of the state. There are stringent legislative policies in the UK thatensures the safety of the products and their high quality. Therefore, prior information of thenecessary standardisation is assessed by the marketing functions that enable the properfunctioning of the business activities. Role of marketing functions: - Marketing includes conducting survey and analysingdifferent views of customers on the basis of which, different ideas are generated for betterquality services and improving efficiency of entity. It involves function of launching andpromoting goods as well services provided by company. Including this, it tries to establishinggood relationship with its consumers for long term sustainability and improving effectivenessof organization. However, publicity of products and other aspects of company is donethrough designing, updating and promoting company website therefore online marketing ofentity and its products can also be done effectively. The recent buying behaviour of the customers surfaces their preference to purchaseproducts that are branded in nature rather than relying on the local commodities, observesCassidy (2016, p.24). Therefore, the company needs to give a distinct name to the productsthat they are launching and make an identity of their own in the market. It also helps thecompany to maintain their individual stand in the competitiveness of the business market.Marketing function greatly helps in the determination of all the related factors that are thecore elements in the developing and launching of new products in the market. Relevant issuesof promotion strategies, distribution of goods and transportation of products, storage andpackaging abiding by all the statutory legal policies are all covered in the wide scope of themarketing functions. They are responsible for building the strong base for a new companyand produce goods according to the acceptability of the products, thereby making it anabsolute success (Davcik and Sharma, 2016, p.9). Marketing department of organization is responsible for providing products toincrease profitability of firm and satisfying customers at high level. It plays essential role inenhancing marketing and competitive strategies of organization. It includes different tools4
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