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Importance Of Marketing In The Organization Case study

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Added on  2020-01-23

Importance Of Marketing In The Organization Case study

   Added on 2020-01-23

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Marketing principles
Importance Of Marketing In The Organization Case study_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Explain the various elements of the marketing process...................................................31.2 The benefits and costs of a marketing orientation............................................................4TASK 2............................................................................................................................................52.1 Micro and macro environmental factors which affects marketing decisions...................52.2 Segmentation criteria to be used for products in different markets..................................62.3 Targeting strategy for the products and services..............................................................72.4 How buyer behaviour affects marketing activities in different buying situations............82.5 Propose new positioning for a selected product...............................................................8TASK 3............................................................................................................................................93.1 How products are developed to sustain competitive advantage.......................................93.2 How distribution is arranged to provide customer convenience....................................103.3 How prices are set to reflect an organisation’s objectives and market conditions.........113.4 How promotional activity is integrated to achieve marketing objectives......................113.5 Analysing the additional elements of the extended marketing mix...............................12TASK 4..........................................................................................................................................12CONCLUSION .............................................................................................................................18REFERENCES..............................................................................................................................19
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INTRODUCTIONBusiness organizations are perform their operations in the challenging or dynamic world.For this, they are using organizational structure in order to divide the work and responsibility ofthe each staff members. There are some of the functional areas such as finance, marketing, sales,human resource and so on. Marketing is an important department of an entity which help them inenhancing their sales and profitability (Jobber and Ellis-Chadwick, 2012). It is the responsibilityof the marketing manager to make some strategies so that they will be able to attract number ofcustomer towards their services. The present is based on the case studies which explains theimportance of marketing in the organization. The first case is based on Bentley which performtheir operations in car manufacturing and seconds is based on HSBC bank. These companies arefocusing on their marketing activities so that their overall performance can be improved. In thiscontext, report explains the different elements of the marketing process and their benefits. Alongwith this, it explains that how micro and macro factors can affect the performance of anenterprise. Promotional marketing activities are used by the companies so that their overallgrowth can be improved. Further, marketing mix elements are explained in detail. TASK 11.1 Explain the various elements of the marketing processMarketing is the functional area of an organization as through this they can enhance theirbrand image (Sheth and Sisodia, 2015). Bentley Motors Ltd uses marketing process in order toestablish their relationship with the customers. The process is based on some of the steps whichare essential in order to achieve the objectives. Some of the these elements are as follows:Situation analysis: In the first step of the marketing process, the firm analyse their ownposition in the market. They identify opportunities in order to achieve the competitiveness thanany other rival firm. Bentley motors Ltd also examine the needs and demands of the people sothat their overall satisfaction level can be increased in an efficient manner. Here, the managercan pestle and swot analysis in order to identify their strategic position. Marketing strategy: Here, manager has to formulate some of the marketing strategies inorder to increase their sales and generate more revenues (Kotler and Armstrong, 2010). Some ofthese approaches are like segmentation, targeting, positioning and value proposition.
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Marketing mix decisions: Marketing mix is an effective tool that is used by the managerin order to gain the attention of customers towards their services. There are some of the elementssuch as price, product, promotion and place (Frederiksen, Solomon and Brehony, 2013).Through this, the care company will be able to attract many people and that will lead towards thesuccess. Implementation and control: Here, in the last step plan has been developed and productis launched in the market. So, company identify post purchase behaviour of their customers sothat their changing needs can be identified in an efficient manner. (Source: Marketing process, 2017)1.2 The benefits and costs of a marketing orientationMarketing orientation is an approach that is used by an enterprise in order to fulfil theneeds and demands of their different service users. In this kind of approach, company reacts asper the requirements of people so that their overall satisfaction level can be increased. There aresome of the benefits of the marketing approach and these are as follows:Illustration 1: Marketing process, 2017
Importance Of Marketing In The Organization Case study_4

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