Marketing Concepts and Internal Relations (Part 1) - Desklib Online Library

This article from Desklib Online Library for Unit 2 Marketing Essentials covers the analysis of marketing processes, role of marketing manager, interrelation with other departments, value and importance of marketing role in organization. It also includes a briefing paper comparing how two different organizations within the same competitive market apply the various elements of the 7Ps marketing mix.

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Unit Number and Title Unit 2 – Marketing Essentials
Project Title Marketing Concepts and Internal Relations (Part 1)
Statement of Authenticity:
I certify that the work submitted for this unit is my own and the research sources are fully
acknowledged.
Learner Name:

Table of Content
Assessment Part 1
1.0 Introduction p2
2. An overview of the different marketing processes p2
3. An Explanation of the role and responsibilities of a marketing manager
in the context of the organisation p3
4. An analysis of how marketing influences and interrelates with other
functional departments of the organisation p4
5. An analysis of the value and importance of the marketing role in the
context of the organisation p4
6. Conclusions p5
References p6
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1.0 Introduction
Marketing is a management strategy for defining, satisfying & anticipating the demands of
customers. Promoting establishes solid customer relationships while simultaneously creating,
connecting, and conveying esteem to customers. To maximize a company's earnings,
publicity ways, the showcasing chief's positions, the company's promoting combination, and
potential projections must all be met. (Kotler and Armstrong, 2018) For instance, marketing
often draws the attention of all organizations, and it encompasses all functions, with the key
issue being the marketing function's position. Marketing's goal leads to the perception of
financial performance in the marketplace, customer loyalty, and new product quality, in
addition to what is explained by the company's corporate emphasis. To achieve optimum
profit for an enterprise, marketing processes, Marketing Management positions, and the
company's marketing strategy and future predictions must all satisfy the customer's
expectations and needs. (Walker, 2004)
2.0 An overview of the different marketing processes
The importance of the consumer should be a priority in marketing systems. In order to create
a customer-driven communication plan, marketing systems should often take into account
customer demands or, to put it another way, customer desires and needs. With this in mind,
several phases can emerge through business research, such as consumer growth, market
segmentation, and determining the target client. This client marketing approach can be
actively reflected by the company's strong engagement in the customer's success, which is
directly related to the company's sales/profit or income. This helps the company capture
customer life and broaden customer experience. This boosts the business's long-term client
wealth. To proceed, you would look at either the environment in which it operates and the
microenvironment for the company when performing market analysis. This would provide
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you with insightful knowledge about customers, co-founders, future and existing trends, and
the organisation's profit. This is achieved by analysing the new market's challenges and
prospects. The corporation still uses strong customer and partner service management
because it is a good way to get the brand's name out there in a positive light. Finally, the
company reaps the rewards of its good customer relationships by capturing a client
opportunity.
(Kotler and Armstrong, 2018)
The market segmentation is an important aspect of an enterprise and cannot be ignored, and
every company's micro and macro climate should be closely analysed because it poses
potential risks and opportunities in the near future. Furthermore, an organization that wants to
build more demand in its marketing strategy should improve its market share and overall
customer loyalty after developing strong relationships with its customer base.
3.0 An Explanation of the role and responsibilities of a marketing
manager in the context of the organization
A marketing analyst conducts a business survey to determine what a company's customers are
actually interested in. Marketing research enables these managers to identify possible
customers for their products and services in order to help them create a market niche. In order
to create superior products and use efficient targeting strategies, market forecasting often
includes analysing the company's competitors. Companies conduct market research by
interviews, questionnaires, or a survey of consumer buying habits. (Walker 2004)
Marketing experts create marketing strategies for their clients. These strategies describe an
organization's promotion into its target market of products and services with the aim of
increasing revenue and keeping competitors at bay. They will predict patterns in potential
growth of a business through generating high profit forecasts. Marketing professionals scans
the patterns of with respect to determine unsuitable or untapped markets for their company's
goods and services. The company will identify the peak as well as off-peak cycles of market
demand for their offerings by evaluating the purchasing habits of buyers. In the corporation,
the communications officer is the customer relations champion. The Marketing Manager
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gathers this information from the company's customer base in order to build a customer
experience survey. Marketing managers then pass this information down to their employees
in order to ensure that they have an extraordinary consumer services & developing strong
relationships for long tenure with their clients. Marketing administrators are held responsible
for handling the affairs of marketing function in an organization. Marketing managers are in
charge of the marketing department and are also in charge of the staffs who work there.
(Walker 2004).
4.0 An analysis of how marketing influences and interrelates with
other functional departments of the organization
It is widely known that behavioral and management science has played a major part in
marketing studies. Many marketing models and ideas are based on economics, psychology,
sociology, cultural anthropology, communication studies, and political science. Similarly, the
latest set of consumer science and scientific tools has been fuelled by statistical instruments
and measurement methods from quantitative economics and psychology, as well as modeling
skills and methods from activity studies. In contrast to the wider knowledge emphasis of
modern marketing science and theory, the economic literature has undervalued the theoretical
and methodological implications of interdependencies within decision-making and business
functions. Similarly, the latest set of consumer science and scientific tools has been fuelled by
statistical instruments and measurement methods from quantitative economics and
psychology, as well as modeling skills and methods from activity studies. In contrast to the
broad interdisciplinary emphasis of current marketing science and theory, the marketing
literature has undervalued the theoretical and research implications of interdependencies
within decision-making and business functions. The Recruitment department of the company
is in charge of finding, training, and overseeing the required communications staff. (Micu et
al., 2012)
5.0 An analysis of the value and importance of the marketing role
in the context of the organization
If an organization is to thrive, it must first consider the interests and expectations of its
clients. One of the most critical aspects of marketing is developing strong consumer
partnerships. The trick to accomplishing this is to increase customer value and loyalty, which
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will ultimately lead to improved overall business results. Marketing philosophy relies on
market demands and expectations as targets, as well as the importance of the opponent, in
order to create a customer base and credibility for your particular brand. Advertisements
helps in the growth of client-corporation relationships, as well as the development of trust
and customer satisfaction. It gives one the courage to pursue latest offerings within
marketplace, as opposed to condition in which items are introduced into the market without
prior notice. The old marketing life has been totally transformed as the use of computers, web
software, and promotions has improved drastically. Companies who wish to reach out to the
public with their goods and services have taken to social media. Some have been very
common in the past, and consumers are more aware of them now than they were only several
decades previously. ( Parvatiyar A., 1999)
6.0 Conclusions
To summarize, successful marketing techniques are critical for the company's development,
as are effective relationships within all departments, which greatly contribute to the
company's progress and benefit. Marketing's value to a corporation can still be seen. It is in
charge of enhancing a company's reputation, dealing with bad publicity, and selling new
products. Businesses should often determine their customers' needs and then design their
goods to meet those desires. The option to meet those specified criteria is better than the
competition, and it is important for every organization to reduce consumer frustration. Other
positives would be that the organization's overall productivity would be improved as
divisions worked, that there would be less disputes within the company, and that departments
would be more at peace while operating together, resulting in undeniably better performance.
Better leadership skills would be very helpful in this case because they would address the
problem quicker and create connections between different business teams, which would
lower employee frustration and the number of employees who quit in less than 10 years.
(Moorman, 1990)
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References
1. Walker, M.C. 2004. The practical marketing handbook of definitions (online)
https://digitalcommons.brockport.edu/bookshelf/166/ [Accessed 19/03/2021]
2. Moorman C.(1990) The role of marketing (online)
https://doi.org/10.1177/00222429990634s117 [Accessed 19/03/2021]
3. Kotler, P. and Armstrong, G. (2018). Principles of marketing.
4. Dibb, S., Simkin, L., Pride, W.M. and Ferrell, O.C. (2019). Marketing concepts and
strategies.
5. Parvatiyar A. (1999), Handbook of Relationship Marketing (online)
https://books.google.ro/books?
hl=en&lr=&id=2KvxCQAAQBAJ&oi=fnd&pg=PT9&dq=walker+
+marketing+handbook&ots=RCr-
mRJgDr&sig=M0TjYkCSH6swGjLQTDN3oJ6nGvA&redir_esc=y#v=onepage&q=
walker%20%20marketing%20handbook&f=false [Accessed 19/03/2021]
6. Micu, D., Ifrim, L., Daraban, C. and Purdescu, C. (2012). CROSS-
FUNCTIONAL LINKAGES BETWEEN MARKETING AND THE
OTHER BUSINESS FUNCTIONS IN AN INDUSTRIAL
ORGANIZATION. U.P.B. Sci. Bull., Series D, [online] 74(3). Available at:
https://www.scientificbulletin.upb.ro/rev_docs_arhiva/fullb5f_319240.pdf
7.
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Table of Content
Assessment Part 2
Section A: Briefing Paper p-p8
Comparing how two different organisations within the same competitive
market apply the various elements of the 7Ps marketing mix
p8
How the marketing mix is applied to achieve business objectives, relating to
the two chosen organisations p9
Section B: Marketing Plan p11
Marketing goals and objectives based on marketing mix analysis/situation
analysis p11
7Ps marketing plan p11
Tactical action plan p12
Measures for monitoring and evaluating progress p13
References p13
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Section A: Briefing Paper
Comparing how two different organisations within the same
competitive market apply the various elements of the 7Ps
marketing mix
You already know a lot more about fast food than you think. It's everywhere in the United
States - and pretty much everywhere else. At every rest stop and off of every highway exit. In
the mall's food court and on the edges of town's shopping strips. In cities and airports, for
example. What you may not have heard, though, is the industry's transforming trends. In the
past some time, there is an experience abundance of variety in both that is menu as well as
style of a restaurant offerings. This transformation depicts a whole sector that has accepted to
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prefer the preferences of their buyers along with businesses who has found the opportunities
for generating premium profit.
McDonald’s, in whole business, it is the American food chain which is one of the biggest
chain across the world, which is highly famous for its hamburgers. In the year 1948, brothers
Maurice & Richard McDonald initiated the outlet with their first McDonald's restaurant in the
markets of San Bernardino, California. Ray Kroc, was the one who got fascinated by their
demand for 8 malt & shake mixers, has sold their assets to McDonald’s. Kroc analyses an
easy and effective way that permitted both the persons to produce huge amount of food at
cheaper prices the time when he reached in year 1954 to determine the capability of a small
business which were dealing in variety of milk shakes. A common hamburger prices to 15
cents, which was nearly to the 50% less of what is offered by other restaurants. There was no
need for waiters or waitresses as they offer self-services. The chain began to spread at
regional as well as multinational level, such as to Canada in year 1967, targeting nearly by
10,000 restaurants in year 1988 & offering for more than 35,000 outlets in higher than 100
nations by the starting of 21st century. In the year 1990, development was as fast as it quoted
that a latest branch of McDonald's gets opened within a period of every next 5 hour across the
world. Soon the restaurant becomes the highest successful family business, focusing on
entertainment, cheaper price food as well as flavors that cater to the generations such as
adults and kids both. The restaurants are engaged in the philosophy philanthropy. During the
year 1974, the chain has determined its subsidiary of the Ronald McDonald House in the
regions of Philadelphia. Families were not in condition to stay next to the clinic where their
kids were treated. (Tikkanen A., 2018).
The business of KFC is the globe’s leading fast-food chicken manufacturer, franchisor, as
well as the operator. KFC was the subsidiary of company PepsiCo, Inc. by the year 1997, in
over 5,000 regions in the US, with over 60 per cent of them were running as franchises. KFC
is operating over 3,700 locations throughout the globe, with 2/3 of them are laid out
franchised. The organization involves in the process of joint ventures & targets to spread new
ventures to cater huge market share within the industry, along with direct franchising & the
wholly owned businesses. Unlike many other fast food restaurants, KFC prefers to keep its
sales going for longer stretches of time, with just four to six promotions during the year. This
method of meal premiums has two advantages, with benefits for both KFC and collectors.
KFC spends less money on traffic, marketing, and maintenance as a result of purchasing and
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arranging promotions. Collectors, on the other hand, benefit from having sufficient time to
buy their desired toys. (Sodaro RJ, n.d.)
How the marketing mix is applied to achieve business objectives,
relating to the two chosen organizations
The marketing combination of its 4P’s for McDonald's Company comprises a range of tactics
that resolve organizational problems in various fast food offerings around the globe. The
element of marketing mix identifies a business strategy as well as frameworks in order to
target customers with respect to goods, location, advertising & the price. McDonald's also
tweaks the advertisement mix to match the demands of each buyer at every region. For
instance, in nations where print media is highly common, the organizational promotion
techniques & their tactics emphasize print media, while TV is prioritized in other industries.
McDonald's provides a merchandise component which is mostly made up of eatables &
beverage products as an eatable service organization. The various corporate offerings (goods
and services) which a company presents to its audience are protected by this portion of the
marketing mix. The brand name of the company is primarily defined by its offerings, that are
one of the 4 Ps. The most well-known product by the business is burgers. On the other hand,
increasingly extends its product mix. Buyers will also place order other that of foods like
chicken & seafood, cakes as well as meals for their breakfasts. The item lines used in this
ratio of the marketing mix are encouraged by company’s generic way & intense enhancement
strategies.
The locations or venues where items are sold & the buyers could have them were identified
as a form of the marketing mix. The highest recognizable sites where the company's items are
sold were their restaurants. Although, as a form of the 4Ps variables, the company utilizes
various locations. Company outlets account for the bulk of the company's revenue. Some of
these restaurants also run kiosk that there they sell a tiny range of offerings such as sundaes
& different flavors of desserts.
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Within company’s promotion frameworks, marketing is the highly known component
Advertisements are refereed to some broadcasts upon radio, television, news newspapers, &
the internet. Sales deals, simultaneously, are utilized to cater additional consumers to its
restaurants. The business, for instance, offers promotional discounts & freebies for particular
brands and food packaging’s in relation to cater more buyers. Also, by the goodwill & image
enhancement, the public relations efforts of company assist in the marketing of the enterprise
to the set market.
They utilize the packet selling way to offer meals at low prices & different items as opposed
to purchasing them individually. Buyers may, for instance, buy a Happy Meal or an Added
Value Meal to have their money saved & receives a great price. This pricing policy allows
buyers to buy the company's goods when they are considered to be inexpensive. As the
outcomes, this part of McDonald's marketing mix stresses the significance of bundle prices as
well as psychological price method in enticing buyers to order more food. (Meyer P., 2018)
.Section B: Marketing Plan
Marketing goals and objectives based on marketing mix
analysis/situation analysis
The business strategy has been developed. Individuals are granted commitments such that the
plan of action will be carried out. Frameworks have been created. Market reaction in the short
term to targets that are given. McDonald's promises a transparent and regulated spending
schedule that is maintained under acceptable limits. Following the development of the
campaign, different roles are delegated to various individuals in order for the Initiative to be
executed. Frameworks are set up to collect consumer reviews and to evaluate success against
ephemeral goals. Measurable learning is the association that motivates McDonald's to
understand this crucial information.
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7Ps marketing strategy
Here is a short 7Ps marketing strategy plan of the McDonald’s company for granted success.
Product: McDonald's burger menu consists mainly of veg as well as non-veg options. Buyers
would place order for their veg burgers like salad sandwich, Veg surprise, McAloo Tikki
Burger, etc. Mcchicken burger, Chicken Mcbarbecue, Filet of fish, & chicken maharaja
burger are non-vegetarian burgers. Along with these French fries, McPuff veggie pie, soft
serve pineapple wrap paneer salsa, potato wedges, wrap chicken Mexican & Mcswirl soft
drinks, coffee, the chocolate ice creams, & Mcshakes were now available to broaden the food
portfolio.
Price: The primary emphasis at McDonald's is on youth. Small toys are often offered out with
happy meals, which are geared toward children. Other than that, the time an order is placed
on the different mean combos; different rewards for winning prices by lucky draws or scratch
cards were offered. In real context, the multiple economy meals as well as value food signify
to the customer that buying individual goods provides more value for money.
Process: The item packaging process at restaurant is totally translucent, meaning that
customers could look at the whole procedure. In real terms, the fast-food chain encourages
consumers to look & Judge McDonald’s' hygienic practices by inviting them to scan the
environment where the procedure occurs. Buyers are advised to test the food's ingredients.
Place: The Company has more than 36,258 locations within over 119 nations. The business
plans to create a mark in both urban as well as rural areas as a form of its highly dedicated
plan for business expansion. In common, large outlets for fast food cluster, & if there is a
name of McDonald's, there is almost present a Burger King right near the street.
Promotion: Both forms of marketing communications are covered by advertisements.
Advertising is one of the tactics used. Advertising is done on TV, radio, in the movies,
internet, and so on. Advertising varies from most advertising interactions in that media mans
must be charged prior the message could be put in the format.
Tactical action plan
A Gantt Chart would be used to reflect the corporate action plan, allowing McDonald's
Marketing and other practical divisions to collaborate in a timely and productive way. There
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will be a few more phases in this plan for designing the product, drafting the specification,
picking the parts, and evaluating it. The phases that take the longest in this Gantt Map are the
demand research, the development of a marketing strategy, and the final phase of marketing
the product after the competition has been objectively analyzed.
Measures for monitoring and evaluating progress
Technology's influence, loyal customer responses, and profit margins will all be scrutinized
closely. McDonald’s is concentrating on collecting and evaluating techniques that represent
the inventory network's financial feasibility and allow cycle sharing to ensure the guarantee
of fitting expenses, all of which are focused on clear methods that balance business demands
with rule compliance and marketing reliability. Ford can maintain the same level of expertise
that ensures equal and precise communication with its customers, including keeping track of
their specific product preferences and growth.
References
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1. Mason, Ohio: South-Western Cengage Learning. [Accessed 19/03/2021]
2. Dibb, S., Simkin, L., Pride, W.M. and Ferrell, O.C. (2019). Marketing concepts and
strategies. 8th ed. Andover, Hampshire, United Kingdom: Cengage Learning, Emea.
[Accessed 19/03/2021]
3. Tikkannen Amy (2018). McDonald’s | History & Facts. In: Encyclopædia Britannica.
[online] Available at: https://www.britannica.com/topic/McDonalds.
4. Sodaro RJ (n.d.). KFC Company Profile. [online] Available at:
https://www.americanantiquities.com/sodaro.html
5. Meyer, P. (2018). McDonald’s Marketing Mix (4Ps) Analysis - Panmore
Institute. [online] Panmore Institute. Available at:
http://panmore.com/mcdonalds-marketing-mix-4ps-analysis
6. Vitasek, K. (2016). Trust and Collaboration: McDonald’s Supply Chain
Strategy. GLOBAL SOURCING COUNCILE
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