Marketing Essentials Report: Marketing in Organizations Analysis

This report delves into the core concepts of marketing essentials, emphasizing its crucial role in modern business management. It begins by defining marketing and its importance in promoting products and services, ultimately driving organizational success through customer awareness and satisfaction. The report then examines the roles and responsibilities of the marketing function, highlighting the significance of place, price, promotion, product, people, process, and physical evidence in achieving marketing objectives. It further discusses the application of the marketing mix in the planning process, including market analysis, target market identification, cost estimation, and staying updated with current trends. Finally, the report provides a detailed marketing plan, outlining steps such as business analysis, target market selection, competitor analysis, and the development of marketing strategies. The report underscores the importance of marketing in driving revenue, building brand loyalty, and achieving overall business goals.

Marketing Essentials
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INTRODUCTION
In management today marketing is misunderstood discipline today. Marketing actually
used of the advertising for product and also used of promote to the product. Marketing
everything about the market bringing the product and developing in new market. Marketing
essentials of goods and services creating, promoting to consumer and business. Marketing is the
key of success the organisation. If organisation of our marketing essentials of developing the
new marketing and understand the concept of the product in marketplace. Marketing essentials is
important of an organisation understand the customer relationship and understand the marketing
place. The process of an organisation use the marketing mix of sell the product. Organization the
successful marketing strategies the use of marketing mix achieved the efficient of marketing.
Marketing is completed focus on customer is make aware of company product is only possible of
marketing. Marketing is product, price, place and promotions. Thus, marketing plays crucial role
in the company so that products can be easily marketed and promoted in order to attract
customers quite effectively. Hence, marketing is required in organisation so that revenue may be
injected in desired way and as such, company may attain stated targets with much ease. Thus,
marketing functions provides efficiency to firm in attaining goals in effective manner.
TASK 1
(P1) Roles and responsibilities of marketing function to organization
The marketing function is an important part of company as through marketing only
products are promoted to consumers and they became aware of it. It achieves company’s
objectives in effectual manner. The various marketing functions and its roles and responsibilities
are as follows:
1. Place-
In the organization is very important function of marketing. Customers available of
product to easier the nearby location the store must be located the consumer purchase goods. In
marketing element id location is very important but the online business place is unimportant for a
business. As customer place function very vital role of marketing in the own place is preferred
the only goods and services. As such, organization should be able to market their products to
nearby locations so that customer’s groups can be targeted and firm can achieve its objectives
and goals in effectual manner.
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2. Price-
In the product and services is correct price is the challenge of the organisation. In the
marketing is related with product of price. The price of product service the customer know the
value of money. Money, a customer pays for a product as a price. Consumer not purchased the
product of high price as the low quality of goods and the price of heigh the loss of the customer.
Price is the important function of marketing because it depends on price of product that how
many customers are willing to purchase it (Grönroos and Gummerus, 2014).
3. Promotion- In marketing function promotions is vital part of the company. Promotion function
include sales promotion of product, advertisement of product and the promotion of social media
etc Company promote the product is different channel like newspaper and interment use the
promote the product. Internet uses the company promote the product is very low cost and the
result of costumer wide up is the impact of the promotion .make effective sales and earn good
amount of revenue (Brassington and Pettitt, 2013).
4. Product-
The demands and needs of customer company manufacture the product make As a result,
customers satisfaction will be accomplished by it in the manner through effective sales and good
quantum of revenue for its effective earning in the future. Company is main objective to the
customer product is safety. Company is goods manufactured is called products. Products are two
types first is tangible products and second is intangible products. Product represent is the value
of customer benefits. Product to sell the buyer is the money exchange. As such, the need of
customer according the product.
5. People-
People essentials part of organisation is include employees, organisation culture and
management. People involved the product of sales and purchase in a marketing function. In the
firm is useful carry put the goods to potential customers then way to promoted and marketing
effectual as achieve the high profits as organisation.
6. Process-
The organisation sell its product and services to customer is various process the following
by the firm, is the process of the company effectiveness sales achieved more revenue and
costumer satisfaction. Process includes various elements, which are followed by firm to get the
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products deliver to the customers. Company different procedure follows the consumer legally
provides of goods.
7. Physical evidence-
Physical evidence function has important role of the company in marketing. The
communication the USP's is try to sell its product and the law price of goods and selling of good
quality is benefits of products to consumer. The physical evidence company in long run in the
several in market consumer built trust on company (Purvis, 2016). This makes consumers more
loyal towards the brand and company earns well reputation and dignity in the market and leads
ahead of its competitors
All functions pf marketing plays important roles, are responsible for firm’s success, and
attract customers to buy their products and it earns good quantum of profits.
(P2) Discuss roles and responsibilities of marketing to organization
Roles and responsibilities of marketing are useful for the organization because it gives
pace to sell the products to customers in fast and effective way. In today’s competitive world
every firm need to established their brand superior from one another as such marketing lies key
role. Marketing is essential for company so that customers can be make of its products in the
way, which achieves their objectives in effectual manner. Large as well as small organizations
are supported by marketing because they try to sell the innovative goods and services to its
customers and as such competition is widened day by day. Marketing gives company to sustain
in this competitive era (Lane, 2016).
Competition has emerged more than ever and as technology is leading to gain more
competition between firms. Social media is capture the audience is introduced by the
organisation so that they may purchase it and company can make larger sales. Customer in the
marketing important role on marketing is establishing and developing relationship in the market.
The new product enter in the new market without publicity as opposite situation a company
confidence the product. This makes marketing critical in firm whether it is profit centred or not.
Its products or services organisation give shape and the organisation their product and services
confidence give people.
An organization comes to the profits, responsibilities of marketing for growth and
increase in revenue and by extension maximising firm’s profitability. It also broadens the
customers’ base for firm. Marketing is also responsible for branding of organization,
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participation in public activities and advertising and customer interaction by obtaining feedback
from them. Every product launch start with marketing. As such, marketing plays vital role in
launching of product in market to satisfy the customers (Loveland, Thompson, Lounsbury and
Dantas, 2015).
Organizations are competing with another for market share so that it can flourish in the
market and can earn revenue by satisfying the market. With the help of marketing, it
accomplishes market share by providing quality goods to customers. Marketing has role and
responsibility to capture the customers through building trust and loyalty by retaining them so
that it can flourish in the market byu gaining market share and earn profits in effectual manner.
As a result, marketing is responsible for carrying out the promotions through campaigns time to
time and this has been proved as a successful initiative in attracting lot of customers. As a result,
marketing plays important role as in absence of marketing, brands will get illuminated and
survival of firm will be at end. Marketing plays vital role to capture and attract large customers
instantly so that firms can enjoy large amount of profits at regular intervals (Gnizy and Shoham,
2014).
(P3) Outline and compare ways in which marketing mix is being applied to marketing planning
process by organization
Marketing mix is an important element to marketing planning process to
organization. It makes marketing plan effective so that marketing objectives by firm is
accomplished in effective way. It makes good amount of profits as customer become aware of
products of company and they purchase it, which increases profits in effectual manner. The
different ways are as follows:
1. Analysing market-
The analysing of marketing department is very important the research analyse the
consumer demand and need of consumers. As a company market analyse is important to know
that the consumer desire and want and they need of products to buy the quality of product. This
important as marketing mix is prepared on this basis and then plan regarding consumer’s needs is
prepared so that customers are enhanced through quality goods.
2. Target market-
The analysing of marketing after that the organisation next way is to target market. The
marketing plan achieved in effectual manner is designed by the customer in the marketing plan
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The organization is comparison of marketing mix and marketing plan so that compare it may
gain large market share (Raffelt, Schmitt and Meyer, 2013). If the market share gain is attracted
the one of the customer in other way company in maintain the market so that it may earn profits
without the involvement of its rivals or gaining an edge over them. This way it targets its
customers to maximise its revenue.
3. Estimating cost-
The marketing activities in organization costs are important in organization so that
resources are not wasted. It is vital so that resource are fully optimised and income exceeds costs.
Its clear picture of compare the other firms the cost of each one of utilising the resources
accomplish marketing mix and this gives them clarity if they are spending more than of their
rivals. As such, costs and expenses are controlled by organizations. The organisation of the
expansive including the promoting of the product through newspapers and through platforms of
social media. These expenses and costs are then analysed by firms so that they may nor indulge
in those activities that reduce their income. This helps companies to keep an eye on all expenses
and as a result they all optimised their resources in effectual manner (Schindehutte and Kuratko,
2015).
4. Keeping updated-
Marketing mix should be updated with the latest trends so that marketing plan can be
effectively made and implemented by companies. Organizations are required to use updated
technologies to connect to customers so that their rivals may not drive them. The social media is
effective tool for promoting the goods and services of companies to customers. Firms must use
this tool in marketing plan so that good impact can be made to customers in effective manner.
Almost all people use social media platforms and this serves as a primary tool fir company as
cost of operating it is very low (Steps of marketing plan, 2016 ). In addition, as such, company
can earn profits and expenses can be reduced too much extent.
(P4) Produce marketing plan for organization
The marketing plan is as follows:
1. Know your business-
The first step is to know the opportunities so that business can be established
successfully. Business essentials should be analysed by organization so that planning can be
made depending the nature of business. Business should be able to understand the purpose of
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marketing to customers and carefully make plan so that customers are attracted to goods of
company.
2. Target market-
Marketing is required to carefully evaluate market with regards to target customers.
Customers are segmented by forming similar characteristics so that group can be formed and
company can sell its products to that target market only (Malik, 2015). This makes company to
effectively utilise its resources and make sales in effectual manner.
3. Analyse competitors-
Competitors are to be analysed by company so that they may not drive away its
customers. Firm need to carefully analyse rivals so that it can make those strategies which
outrage them so that market of consumers can be analysed and risk can be minimised and firm
can earn profits with full knowledge of its rivals (Human, Bick and Singh, 2016).
4. Set goals-
Goals should be clearly stated by company. Marketing goals should be made by it so that
it can employ good workforce in marketing. Marketing goals are essential to firm so that it can
target those customers group, which can provide good amount of revenue to firm. It is possible
when marketing goals are stated in clear manner.
5. Formulating strategies-
Company should formulate strategies so that it can beat its competitors and can capture
good amount of customers. Strategies are essential as rivals develop new strategies to attract
customers and earn revenue. Strategies like targeting homogenous group during campaigns and
many more must be developed and implemented by company so that it can attract consumers at
large and can satisfy them with innovative goods.
6. Set budget-
Budget is essential so that expenses and other costs must be analysed and company can
set its budget in anticipation of the cost which are to incurred on marketing activities. Marketing
budget is required to be implemented such as budget for campaigns, promotions through
advertisement, media are not be implemented (Wirtz, Tuzovic and Kuppelwieser, 2014). Thus,
budget is essential to look out for company on its expenses.
7. Follow up-
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Last step is to follow the plan according to the company’s ability. Hard work is required
so that marketing mix and company can effectively accomplish marketing functions. Its goals
and objectives are to meet by marketing team, which can be possible by the efforts of work
force. Marketing team has to efficient in its approach so that company’s products are delivered
through effective promotions and should be able to satisfy the customers. It can accomplish its
goals in effectual manner.
CONCLUSION
Hereby it can be concluded that marketing is essential requirement of company as
without marketing functions and marketing plan, company will fail. It has to prepare marketing
plan and has to abide by it so that it can accomplish it set objectives in effectual manner. It has to
market its goods in that way which reaches to consumers in fast and efficient manner, which
ultimately achieves its objectives. Organization has to make effective marketing mix so that it
can attract and capture large number of customers. Rivals need to be overcome by the firm as
they try every single strategy to outreach it and focus n stealing customers from it. Company
should make strategies in effectual manner so that rivals may not drive away customers from it.
Importance of marketing mix should be analysed by company so that it may attract large
customers and also customers should be targeted by it and marketing should be made in that
particular sector so that no wastage of resources are made by company. Roles and
responsibilities of marketing is to accomplish set targets in effectual manner.
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