Marketing Environment - PDF

Added on - Dec 2020

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MARKETING ESSENTIALS
TABLE OF CONTENTINTRODUCTION...........................................................................................................................21. Role of marketing as a business function....................................................................................22. Structure of marketing department of BMW...............................................................................23. Marketing process and significance of marketing environment to marketing function..............44. Interrelation between marketing and other functional department of organisation.....................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONMarketing is defined as the strategy used by the business organisations to bringconsumers, investors and employees for achieving the business goals (Davis, 2017). The reportwill explain the role and significance of marketing in context of BMW. Bavarian Motor Works(BMW) is one of the largest and most renowned manufacturers of motorcycles and automobiles.1. Role of marketing as a business functionMarketing department of BMW plays a vital role in business functioning of organisation.Apart from performing the departmental functions the marketing analyses the vast growthopportunities for BMW. The marketing functioning aims at performing activities which cancontribute to the success and growth. The marketing professionals of organisation regularlyanalyses the competitive marketing environment and formulates strategies which can distinguishBMW from other automobile companies. The ineffective marketing policies will make itimpossible for company to explore the innovative methods which can be used for creating newcustomers (Mac and Evangelista, 2018). The marketing functionalities not only help to buildcustomer loyalty towards the products of BMW but also make the organisation a well knowbrand all over the world.If BMW will not make much emphasis on its marketing roles then the rising competitionfrom other organisations will soon replace the BMW. Thus in order to understand the needs ofconsumers and to promote services in a way such that customers can make purchasing decisionsmarketing is important. The financial stability is also dependent on the marketing functionality ofbusiness. The cost of products, transactions and investments between suppliers and dealers,market share and other aspect of financial benefits are influenced by the marketing. When BMWeffectively follow its marketing plan and strategies then it becomes easier for customers as wellas other stakeholders to invest and trust company with more convenience. It is one of the factorswhich affect the success of company and its financial performance (Baker, 2016).The marketing also have great impact on the human resources associated with theorganisation. The vast success all over the world makes BMW a popular name. Thus it is easyfor the company to recruit highly skilled and talented human resources. If company will not havesufficient and suitable marketing policies then BMW brand will not gain such huge success andtalented pool of employees will never give their skilful services to company. The marketingfunctions will make it possible for BMW to achieve their sales targets and to retain its distinctplace among its competitors which is essential for the long term success of company.
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