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Marketing Essential of Coconut Bliss

   

Added on  2020-07-22

16 Pages4565 Words81 Views
Professional Development
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MARKETINGESSENTIAL
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Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3P1 Important roles and responsibilities of marketing function within firm...........................3P2 Key roles and responsibilities of marketing related with Coconut Bliss in wider term....5TASK 2............................................................................................................................................7P3 Comparison between two organisation using marketing mix...........................................7TASK 3 .........................................................................................................................................11P4 Marketing plan of the firm..............................................................................................11REFERENCES..............................................................................................................................15
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INTRODUCTION Marketing is defined as a process which is based on the conception of fulfilling therequirements and needs of the customers. It refers to the set of activities that are related with thecompany so that products and services are offering to the clients. For this aim, managers need toexplicate effective policies and strategies in order to attract potential buyers (Wirtz., 2012). Bythis procedure, firm creates value for customers and make healthy relationship with them. Itanalyses the activity of management which is accountable for predicting and fulfilling the needsof clients. The function of marketing is essential for every firm in order to carry outpredetermined goals & objectives of the firm. In the present report, given company is CoconutBliss which deals in edible food products such as ice creams & chocolates. The firm isestablished by Barry Kaplowitz in Eugene. The report covers roles and responsibilities ofmarketing function related to organisation and creation of basic marketing plan. The manner inwhich different firms implement marketing mix in order to attain objectives is also discussed inthe report. TASK 1P1 Important roles and responsibilities of marketing function within firmMarket refers to an place where people meet together in order to satisfy their needs anddemands in terms of money. The main aim of marketing is to identify the needs of customers andprovide them goods and services according to their needs. In present scenario, preferences andchoices of customers are changing very fast as there is any change takes place in the market.Firms are concerned to identify new trends related to production so as to administer satisfactoryand high quality product to its potential customers. The function of marketing plays an important
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role in making effective decisions that provides advantage of growth and sustainability of thefirm. Proper execution of this function assists in introducing new product in the market.Innovative products provide competitive advantage to the company. Marketing process assists inperforming all the activities in right way as its contribution is high in progress and growth of thefirm. In competitive environment, every firm wants to offer high quality products in order tosatisfy its customers (Baack and Baack., 2013). Marketing function plays an important role in it.Some important roles and responsibilities of this function are as follows: Product distributionProduct design & development Market researchCustomer servicesRisk taking FinancingMarket planning Packaging and labellingProduct distribution: It necessary for the company to distribute its goods and services to the endcustomers in order to fulfil their needs and wants (Babin and Zikmund., 2015). Coconut Blissemphasizes on getting attention of customers and administer them wide variety of products. It isessential for the firm to provide good quality products to its customers so that they are willing tobuy their products. Product design & development: In the present scenario, the design of products attracts largenumber of customers instead of its quality and price. So, organisations are emphasized on thedesign of products so that their sales and profits can be increased. Coconut Bliss has variety ofproducts by the help of which they gain attention of customers. They set reasonable prices oftheir goods so that more purchases are made by the buyers. The products of the firm includesdark chocolates, ice creams and desserts. Market research: It is the essential tool that is used by every organisation in order to analysethe market. Market research is conducted to determine market trends. In this, data is collectedand analysed and on the basis of that, needs and demands of the customers are identified. Ithelps the firm in developing new product. It is necessary for an organisation to conduct, marketresearch before introducing new product and offer it into the market.
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