Marketing Principles and Applications

This assignment delves into the core principles of marketing, examining essential concepts such as the marketing mix (4Ps), market segmentation, and consumer behavior. It analyzes the functions of marketing within a business context and explores the impact of integrated marketing communications on consumer decision-making. The document draws upon academic literature and real-world examples to provide a comprehensive understanding of modern marketing practices.

Marketing and its
application

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing function..............................................................1
P2 Roles and responsibilities of marketing related with wider organisational context..........3
TASK 2............................................................................................................................................5
P3 Comparison of application of marketing mix for marketing planning..............................5
TASK 3............................................................................................................................................7
P4 Marketing plan for Vodafone............................................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is a process of influencing large number of customer to buy firm's
offering by using communication tool or mix of communication tools. Different firms use
communication tools in various ways for capturing a larger market share or for increase
revenues of the firm (Baker and et. al., 2016). Function of marketing is one of the
important from all functions of an enterprise and its application is wide. By applying this
function or by performing all its activities in an effective way an enterprise can increase
the sale of its products. In this report, Vodafone is taken for studying about the function
of marketing and how enterprise can use it for increasing the effectiveness of its
business operations. Various roles and responsibilities of marketing function of
enterprise and how they are related with other important functions of enterprise is given
under this report. Application of all elements of marketing mix by different enterprise is
mentioned in this. Along with this, marketing plan of Vodafone with its all important
objectives and goals is also detailed under this report.
TASK 1
P1 Roles and responsibilities of marketing function
Different type of departments are there in every organisation from which
marketing is one of the important department. Various type of activities are execute by
this department for creating the demand of the product among large number of public. It
is one of the responsibility of marketing manager to use all communication tools in an
effective way so larger number of people can be influenced. Further, roles and
responsibility of marketing function can be understood by the following : Product: Main offering of firm to its customers for satisfying their needs and
wants is called the product or service. For increasing the sale of firm's offering or
for attracting large number of public towards the product it is very important that
product must be well featured. For this manager of marketing department is liable
to undertake or execute large number of research activities to study the current
needs and want of public (Berkowitz, 2016). Research helps marketer in knowing
about the current trends of market and give information about the coming future
trends. It is the responsibility of marketing manager of Vodafone to add specific
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features in the product so that firm can deliver better or quality products than its
rivals. Price: Price is that amount which a firm charge form its customers in exchange
of the final product. Setting right price for the product is very essential for
Vodafone and is one of the responsibility of marketing manager (Brassington
and Pettitt, 2013). Right price of the product help in creating large number of
revenues and customers in getting value for the money. Selling: Final exchange of firm' product to the customer is known as the selling
process. Manager of marketing department of Vodafone should make sure or op
all the efforts for making the process more convenient for this final offering of the
company should be available to all stores near to the customers. Promotion: Use communication tools for influencing large number of customers
is known as the promotion. Effective promotion helps in increasing the sale of
product and provide a platform to the company to communicate with large
number of public. Manager of Vodafone need to give consideration on this for
achieving the success of the company's product. Management information system (MIS): Marketing department of enterprise
execute various research activities for collecting information about current tends
of market and to gain knowledge about future trend of the market. Collected
information helps manager in taking important decisions of the enterprise. For
increasing the effectiveness of business operations of firm it is very necessary for
the manager of Vodafone to collect information for planning the future activities of
firm. Distribution: Distribution means channels used by firm for delivering its products
to the final customers. From large number of resources available to the firm it is
the responsibility of marketing manager to choose the cost or time effective
distribution channel (Brooks and Simkin, 2012). Cost effective distribution
channel decrease the final cost of of the product which helps firm in getting
competitive advantage in the market.
 Financing: Provide finance or needed resources and making budget for all
marketing activities of business is one of the important role and responsibility of
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marketing department. Shortage of funds negatively affect the other activities of
business. By making or preparing budget manager of Vodafone can execute all
activities in effective or proper way.
As marketing is one of the important or essential function of every enterprise and
success of firm or its products is largely depend of the activities execute by marketing
department. Marketing manager of Vodafone should have enough knowledge about all
this main roles and responsibilities. Effectively executed business activities help firm in
achieve its end results and success.
P2 Roles and responsibilities of marketing related with wider organisational context
Large number of individuals think that marketing include the selling of firm's
offering to the final customers but this is not true (Caragher, 2016). Marketing is much
wider and bigger v concept than that it include all activities for identifying the needs of
customers and making specific products or features to satisfy them. Activities included
in the marketing function affect the other activities of enterprise. There is a link or
relationship between marketing activities and functions of enterprise and this can be
understood by the following points: Operation function with marketing function of enterprise: Process of
production is undertake by the operation department of enterprise. Operation
department of enterprise is the one who make final products for large number of
customers. Cooperation between the activities of both function is necessary as
by doing research marketing function identify the needs or tastes of customers
and according to collected information give direction top operation department
about the changes required in the final product. All this help firm in capturing a
larger market share than its rivals. Finance department with marketing department: Finance is one of the basic
requirement for the survival of business activities. Marketing department firm also
needed various type of funds for deciding or executing different type of marketing
activities and finance department of organisation decide or make budget for all
other activities of the firm (Desai, 2013). For effectively executing all activities of
marketing manager of marketing department should have a coordination with
finance manager for telling him about all the funds required. All this will help
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marketing manager in effectively executing the activities without any hurdle. In
situation of lack of funds marketing manager of Vodafone will not be able to
execute all activities and this will largely affect the sale of firm's product. Human resource department of firm with marketing department: Human
resource department of the firm includes management of activities of workers for
achieving the end results (Dibb and Simkin, 2013). Coordination between the
marketing department of firm and human resource department help organisation
in achieving production targets, make or deliver specific products to satisfy the
needs of customers. Same can be done by they managers of Vodafone and
along with that training can be given to employees for increasing their knowledge
and enhancing their skills and make them able for survival in the competitive
advantage. Marketing department and sale function: Aim of sales department of
enterprise is to increasing the sale of firm's product and activities of marketing
function help in doing the same by using various promotional channels. One can
say that marketing activities and sale of firm's products are directly linked. Marketing department with information technology: technology can be used
by managers of Vodafone for increasing the sale of product by doing online
business. Technology exist in the business environment affect the marketing
activities of firm.
 Marketing department with research function: Research or development
department of enterprise done research on continuous basis for gathering or
collecting relevant data related with market or customers (Gamble and et. al.,
2011). Collected information guide marketing manager what features should be
added in the basic feature of the product for increase its sales.
It can be understood that activities of marketing function are related or linked with
other important function of organisation,. By understanding this managers of Vodafone
can better make decisions or decide future activities of business. For achieving balance
or increase the sale of firm's product it is very important for manager of marketing
department to have a detail information about all other activities done in the done and to
have a coordination with all other functions of the firm. By doing this manager of
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Vodafone can better execute the activities and can better contribute in the success of
firm.
TASK 2
P3 Comparison of application of marketing mix for marketing planning
Marketing mix is a concept used by enterprises for increasing the sale of its
products. Product, price, place, promotion are the basic elements of this concept all this
are also known as 4 P's of marking mix. Extended P's of marketing includes the people,
process or physical evidence. Different enterprise use this concept in different way for
achieving the business objectives (Hsu, 2011). This helps or guide enterprises in adding
specific features in the product, for setting the right price of the offering and to choose
the cost effective distribution channel for delivering the final goods to consumers.
Application of all element of marketing mix by different enterprises can be understood
by the following:
Basis Vodafone BT group
Product Products can be anything which
offered by firm for satisfying the
different needs or demands of
the customers. Firm use or apply
effective tools or techniques for
delivering effective mobile
services which reduce the overall
cost of the firm.
BT group made or deliver effective
packages of mobile services to its
customers at affordable prices.
Price Low price of its product is one of
the biggest strength or
advantage of firm. This is
possible because firms use
updated or cost effective
technique.
BT group offer value for money to
its customers and different pricing
strategy of firm according to
services.
Place At present Vodafone deliver its
services through more than 5000
BT group deliver is services and
having large number of stores in
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stores in more than 80 countries. united kingdom and Europe. Cost
and time effective distribution
channels are used by firm which
help in decreasing the final price of
the good.
Promotion Vodafone focus on creating or
maintaining good relations with
its customers by producing
various customer loyalty
programmes. Firm send
message to its customers by
using newspapers or direct
mails. Managers use an effective
mix of communication channel to
send message to large number
of customers and to influence
them.
On the opposite side BT group
does not believes in creating
strong relationship with customers
(Ogunmoku and Tang, 2012).
Managers of firm think that low
pricing strategies are enough to
attract large number of customers.
Main focus of firm is to doing
promotion of the product and set
low price of the service.
People Vodafone did not give much
emphasis on giving training to its
workers and because of this
employees of firm are fail to
deliver full shopping experience
to its customers and fail to
recommend or suggest them
(Ogunmokun and Tang, 2012). It
is necessary for firm to conduct
development or training
programmes for increase the
knowledge of subordinates.
Workers of BT group are much
skilled as they are able to give
advice or help customers during
their shopping process. For the
skills of its workers firm pay more
to its employees which enhance
the convenience level of
customers.
Process Vodafone do various efforts for BT group use a simple process of
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making the final buying process
more convenient. For this firm
make the buying process more
essay.
delivering services.
Physical
evidence
Vodafone sell its own branded
and quality products using a
global pricing strategy.
BT group use a traditional or old
method of serving its customers
where employees or staff members
help customers.
By effectively using all these factors Vodafone can get a competitive position in
the market and can increase its market share.
TASK 3
P4 Marketing plan for Vodafone
Marketing plan is a written document contain all future activities or actions of
marketing of a firm. It is prepared by manager of marketing department for planning all
the promotional activities of firm's product (Illing and Anders, 2016). Before deciding all
activities it is very necessary that marketing manager should have a clear
understanding about the vision, mission, objectives or about the end result of the firm.
Vision of Vodafone
Vision of firm is to global leader in mobile sector in terms of profit, customers,
values and make mobile networks the nervous system of economy and devleop its
activities in Europe, Japan and US.
Mission
Mission of Vodafone is to be the communication leader in a world of increasing
connectivity.
After understanding the vision or mission of firm it will be beneficial for marketing
manager to have a details understanding about the strengths, weakness, opportunities
or threats of firm to decide future marketing activities of firm.
SWOT analysis
Strengths
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Strengths are that special qualities of enterprise which make it different or unique
from its rivals. Marketing manager should have a knowledge about strength of the firm
so he can better use for achieving the marketing targets (Jones and Rowley, 2011).
When it comes about the strength of Vodafone than firm has massive coverage of
market and generate large amount of revenues every year. Along with this marketing
capability of firm is very effective and company has a large base of subscriber. Positive
image of brand and its premium cost all are the main strengths of Vodafone.
Weakness
Weakness are that lack of ability of enterprise which negatively affect the
business operations. One weakness of the Vodafone is decreasing subscriber base and
values of its brand every year. Company is continuously loosing its market share and
didi not perform well in the market of Europe.
Opportunities
Favourable market conditions or any change in business environment which
positively affect the enterprise is known as opportunity. Rural markets and increasing
dependency on cellular markets is one of the biggest opportunity for the firm. Market
coverage of firm is increasing and emerging markets of mobile use all serve as an
opportunity to the firm.
Threats
Unfavourable market conditions which negatively affect the business operations
or decrease the efficiency of business operations is known as threats. Lower margins
on various business activities, increasing competition and saturation of market all are
the threats for Vodafone.
After this understanding of objectives of firm is very essential for the manager.
Objectives of Vodafone
Objectives are goals or that ends which firm wants to achieve by executing
various activities. Objectives can be either short term or can be long term. One of the
main objective of Vodafone is to capture a larger market share by delivering quality
services at affordable prices (Malhotra, Birks and Wills, 2013). Company currently
focusing on increasing the quality of its products to better satisfy the needs of
customers.
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After understanding the various objectives STP approach helps marketer in
knowing information about its target market.
STP approach
Segmentation
Under this firm divide large number of customers in various groups based on
their characteristics, age, attitude, gender etc. Vodafone focus on people having interest
in buying mobile services in low price.
Targeting
Main target of firm is fulfilling or serve to the people which currently not served by
firm.
Positioning
Presently firm has a strong brand image in Europe and is keep trying to get an
effective global presence.
Marketing strategy
Strategy is a process used by firm for attaining its set objectives. For achieving
its end results relationship marketing can be used by the Vodafone. Under this firm
focus on make relationships with its customers (Mihart, 2012). This strategy provide
long term benefits to the firm.
Implementation
Execution of all activities after deciding is known as implementation. Effective
implementation of all marketing activities is necessary for attainment of organisational
objectives. Proper resources or funds should be required by firm under this.
Evaluation
Evaluation helps manager in knowing about the success marketing activities or
operations (Nguyen and Simkin, 2012). This help manager in taking remedial action, if
required.
CONCLUSION
From the above information it can be concluded that executing marketing
activities in an effective way is very essential for an enterprise like Vodafone. It helps
organisation in communicate with large number of customers about the product and its
features. All this increase the sale or market share of the firm. By performing or fulfilling
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all basic roles and responsibilities marketing manager of Vodafone can contribute a lot
in the success of enterprise. Coordination among all activities or functions of firm with
the marketing function is necessary as it helps in increasing the sale of product. Other
than this marketing manager of Vodafone can increase the sale of firm's product by
better applying or using the all elements of marketing mix. For achieving business
objectives in an effective way Vodafone can make an effective marketing plan by
describing all its objective, goals, aims, or end results.
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