Assignment Marketing Essentials
Added on -2020-06-06
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MARKETING ESSENTIAL
ContentsINTRODUCTION ...........................................................................................................................................3TASK 1..........................................................................................................................................................3P1 Key roles and responsibilities of marketing function .............................................................................3TASK 2..........................................................................................................................................................5P2 How marketing roles and responsibilities is related with various organizational department ..............5TASK 3..........................................................................................................................................................6P3 Marketing Mix of two organization ........................................................................................................6TASK 4..........................................................................................................................................................9P4 Marketing Plan for the chosen organization ..........................................................................................9CONCLUSION ............................................................................................................................................11REFERNCES ................................................................................................................................................12
INTRODUCTION Marketing refers to the social process by which organizations and individual obtain what they want and need through creating and exchanging value with others. It is everything that a looks for in order to acquire buyers and maintain long lasting relationship with them (Dibb and Simkin, 2014). It is considered as one of the premier component of business management as it used to create, keep and satisfy customer requirement profitably. According to American Marketing Association “Marketing can be defined as set of activities, processes and institution for communicating, creating, exchanging and delivering offering that have value for target audience for partners, customers, clients and society at large. The chosen organization for this report is ALDI which is a leading discount supermarket chain operating in more than 20 countries globally. This report talks about ALDI’s marketing roles and responsibilities, components of marketing mix and evaluation main elements of marketing plan. TASK 1P1 Key roles and responsibilities of marketing function Marketing refers to the process through which companies create customer interest in product or services. It means meeting the needs and wants of target audience in an effective and efficient manner. It provide high competitive edge to businesses so as to gain and retain loyal customer. The concept of marketing associated with satisfying customer needs profitably. It include selling, distributing, research and public relation. There are various roles and responsibilities of marketing that are discussed below: 1. Marketing Information System: Market information system the first to the process gatheringand analyzing market information. Under this, and if it is made by company in order to identify and understand the needs and wants of customer thoroughly. Companies usually search about what exactly consumer want, in what quantity andat what price. The chosen organization has effectively used to this method in knowing likes and dislikes of target user. For example: ALDI collect information that most of the consumer prefer to purchase goods or services at lower cost.In addition to that this tool also provide information related with what kind of advertisement must be liked by consumer, how do they want the product and where they want it.
All the relevant information concerned with potential buyers is collected and analyzed properly. On the basis of this analysis an effort is made by the company find out as to which particular product has the best opportunities in themarket.2. Marketing planning: In order to achieve business objective with regard to its marketing objective, marketer usually chalks out marketing plan. It specifically signify what exactly company wants and at what percentage. For example: ALDI wants to increase the market share grocery product by 40%. So in order to achieve this particular objective the marketer needs to prepare market plan accordingly. This will also state the role of employees towards achieving that objective.3. Financing: It is considered as one of the most crucial marketing function as the entire group and success of organization depend upon this market function (Draelos, 2011). It takes money to make money. The main responsibility of marketer is to identify varioussources through which company can get adequate funding. This marketing function deals with finding the money for business through loans, investments or utilizing personal capital in order to advertise good/services among customers. ALDI is managing their funding through shares, investment andloans.
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