Marketing Essentials

MARKETING ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1 The Role of Marketing in Modern Organizations..................................................................1
P2 Responsibilities of marketing and its relation with other functional units.............................2
LO 2.................................................................................................................................................4
P3 Comparison of ways in which different organisations apply marketing mix to achieve
business objectives.......................................................................................................................4
LO 3.................................................................................................................................................8
P4 Marketing Plan for ASOS PLC .............................................................................................8
CONCLUSION:.............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing can be defined as a process by which relationship is created with the customers
(SHUKLA, 2016). Marketing department plays an important role in the organisation as it acts as
a face of a company. The marketing department holds the responsibility for making marketing
strategies related to price, product, place, promotion etc. the report will cover the marketing
essentials as well as the role and responsibilities of marketing function in the organisation has
also been explained. The interrelation of marketing department with other departments of
organisation has also been explained. In order to explain this, ASOS PLC will be taken as a
company. It is the British cosmetic retailer and also deal with fashion products. The report will
also highlight 7 P's of marketing mix. It will help the company to make strategies for the
organisation related to product, price, place, promotion, physical evidence, people and process. It
helps marketers to determine the product as well as brand offerings. In order to make the concept
clear, two organisations will be compared on the basis of the strategies which they use for
marketing the products of their company. Marketing plan of ASOS PLC has also been explained
in the report. Marketing plan is basically a document which outlines the advertising as well as
marketing efforts for future (Fine, 2017). It gives an outline about the of the activities which
company will take in order to meet the marketing objective of company.
LO 1
P1 The Role of Marketing in Modern Organizations
Marketing, as per Philip Kotler is defined as an exchange process through which needs
and wants get satisfied. Marketing is a wide concept which involves identification of the needs
and demands of the consumer and then developing those products and services which help in
satisfaction of such needs and wants. However, in the present era, the role of marketers is not
simply limited to identifying the needs and targeting the consumers but also extends to
identification and development of proper marketing mechanisms like digital marketing
techniques, developing end consumer's experience etc. the role of marketers has evolved with
time where they have to ensure that they are adopting those strategies which treat consumer as
king and aim to ensure that the experience of consumer is excellent (The role of the marketer has
changed, shouldn’t the marketing model, 2018).
There are various roles that marketing managers have to perform while giving marketing
services to the targeted consumers:-
1

Conducting Market Research:- Marketers have to regularly research the market trends
and keep tabs on the regularly changing technologies so that they can form appropriate policies
and strategies which will help them in competing with their competitors in an effective manner
using social media tools as well like Instagram, Facebook etc. so that they can target a wider
customer base and attract more customers towards ASOS PLC.
Development of Marketing Strategy:- By gathering and analysing the relevant data, the
marketers determine how they can target different customers and therefore they develop the
relevant marketing strategies (Gillespie, 2015). These strategies are formulated after identifying
and ascertaining the trends in the market. They try to implement a personalized approach
targeting each customer in ASOS PLC but at the same time, they also need to ensure that the
strategies that they formulate are not rushed since, their failure and inappropriateness might
ultimately lead to failure of the product itself.
Identification of New opportunities:- Another important function of marketing is related
to regularly evaluating the marketing opportunities and threats and interpreting as well as
analysing the rends and the direction in which market is going. Correct estimation and
forecasting helps in identifying the emerging opportunities before the competitors so that the
company can utilize advantage of first mover creating competitive advantage for the company in
the market and build competency.
Customer Relationship Management:- Customer relationship management is that aspect
which has been included in the marketing function due to changing market trends and role of
marketers (Zimmerman and Blythe, 2017). Today delivering the required product is not the only
aspect of marketing but ensuring that the customer is satisfied and remains loyal to the brand is
the ulterior motive. Marketing also involves creating trust and integrity amongst their customers
so that they remain loyal and attached to the ASOS PLC.
Decision making:- Lastly, marketing function is not complete without taking appropriate
and timely decisions. Marketers have to take the most crucial decision of identifying and
selecting a particular segment of customers of ASOS PLC to be targeted rather than going after
every customer and hence a lot of decision making is involved in marketing function.
P2 Responsibilities of marketing and its relation with other functional units
As a marketing manager they also play a crucial role in different other department as
well. It is the functional department which has to suffer and understand different opportunities to
2