Marketing Essentials Assignment | Coca- cola
Added on 2021-02-20
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MARKETING ESSENTIAL
INTRODUCTION ...........................................................................................................................................3TASK 1..........................................................................................................................................................3P1 Roles and responsibilities of marketing function................................................................................3P2 Interrelationship of marketing function with other departments within an organization..................6TASK 2........................................................................................................................................................10P3 &M3 Comparison of two companies marketing mix ........................................................................10TASK 3........................................................................................................................................................12P4 & M4 Produce detailed, coherent evidence based marketing plan for an organization...................12CONCLUSION ............................................................................................................................................15REFERNCES ................................................................................................................................................16..................................................................................................................................................................17
INTRODUCTION Marketing is the crucial tool in the modern business organization which lead them toaccomplish their pre-determined goal in an effective and efficient manner. However, it is anactivity as well as a processes for creating, communicating, delivering and exchanging offeringsthat have value for customers, clients, partners and society at large. Additionally, marketingwidens the market size as it draws out the hidden wants of consumers, creates new demand,locates the untapped areas and finds out the possibilities of selling new products (Ataman, VanHeerde and Mela, 2010). As the marketing efforts widens the area of market, the producers canutilize their resources otherwise remaining partly optimize to the maximum which enable themto reduce the total cost per unit. This report is based upon Coca- cola, which is one of the leadingcompany in beverage industry as it commenced in the year of January 29, 1892. It’sheadquartered at Atlanta, United States and serves worldwide with a high or best quality ofproducts. This study includes roles and responsibilities of marketing function as well as itsinterrelationship with other departments within an organization. Finally, compare the twocompanies marketing mix and develop a new marketing plan in order to achieve to businessgoals and objective in a best manner. TASK 1P1 Roles and responsibilities of marketing functionMarketing is the process of planning and executing the conception, pricing, promotion,and distribution of ideas, goods, and services to create exchanges that satisfy individual andorganizational objectives. However, it is considered as one of the key determinants forcompany’s growth and enhancement as it enable them to identify current or future trend ofmarketplace in order to introduce best products that helps firm to attain higher level ofprofitability ratio. Apart from this, Coca-Cola marketing function contains unique set of rolesand responsibilities that improves their potentiality to gain increased level of customersatisfaction as well as to capture best positioning among competitive marketplace. Some of theroles of Coca-Cola’s marketing business unit are as follows:
Branding: In today’s competitive world of marketing and advertising, a key to success isbuilding a strong brand as it considered as the process of creating a brand name for product inorder to attain sustainable proficiency ratio as well as gaining competitive advantage in bettermanner. However, Coca-Cola’s marketing department includes d3veloping a compelling,positive and lasting image of business that generates an emotional connection with customerwhich improves overall performance of firm and enlarge its market. One of the crucial role ofbranding is to render unique or attractive brand name or same brand to all products of a businessfirms (Bačík, Štefko and Gburová, 2014). Customer support service: The key to marketing success is the satisfaction of thecustomer. Therefore, an important function of marketing that is to provide various customersupport services like after sales service procuring credit services, handling customer complaints,consumer information etc. These services help in getting, keeping and growing the number ofcustomers. Along with this, Coca-Cola’s marketing function is mainly focused on providing thebest possible customer experience and continuing customer relationship for acquiring sustainableprofitability and productivity. Moreover, Coca-Cola’s marketing unit id also specialize incustomer retention and solve complex issues that strengthen their market share as well as enlargetheir potentiality of achieving increased level of sales growth in a better way. Promotion: It is a type of communication between buyer and seller in which vendor tries topersuade the buyer to purchase their goods and services through promotion to capture theattention of customer and generate maximum level of satisfaction. Apart from this, it is regardedas one of the basic element in marketing mix which improves the public image of firm. There areseveral methods to promote the product are personal selling, advertising, sales promotion, directmarketing publicity and also involves exhibition, trade shows. Along with this, it is also relatewith providing information to the customers about the Coca- Cola’s products, their features,uses, prices etc. and persuading them to buy these products for enlarging firm productivity ratioand also boost up their capability in acquiring best positioning within competitive marketplace(Baker, 2016). As the marketing function has various roles to play within an organisation likewise it comprisesseveral responsibilities which help Coca –Cola to accomplish their long term goal in an
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