Roles and Responsibilities of Marketing Functions in Bentley Motors Ltd
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This report discusses the key roles and responsibilities of marketing functions in Bentley Motors Ltd, including meeting consumer needs, better product offerings, keeping up with competition, increasing visibility among customers, adapting the right price, and expanding the market.
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 LO1..................................................................................................................................................3 P1 Key roles and responsibilities of marketing functions...........................................................3 P2 Roles and responsibilities of marketing in relation to wider organizational context.............5 LO2..................................................................................................................................................7 P3 Comparative way to apply marketing mix..............................................................................7 LO3................................................................................................................................................11 P4 Marketing Plan......................................................................................................................11 CONCLUSION..............................................................................................................................14 REFERENCES..............................................................................................................................15
INTRODUCTION Marketing is an activity with the purpose of establishing business and promote its products and services by identifying the target area and implementing required marketing strategy. Marketing is a way to make people aware of the products and services available and create a desire to acquire it. It is a very important function in any organization for making its productsand servicessuccessful.In thisreport,BentleyMotorsLimitedistakenasan organization. It is a British manufacturer and marketer of luxury cars and a subsidiary of Volkswagen group. It is headquartered in Crewe, England, founded by W.O. Bentley in 1919. This report focusses on various roles and responsibilities of marketing function, how it is interrelated to other functional departments of the organizational, what are the ways company has uses 7Ps of marketing mix to achieve organizational objectives and a detailed evaluation of strategic marketing plan for the organization. LO1 P1 Key roles and responsibilities of marketing functions Marketing department is responsible for carrying out market research based on the product and service it offers, which help organizations to determine its target market and increase its sales and profitability. Some key, marketing functions are discussed below. Meets consumer needs and demands:Marketers needs to identify the consumer needs and accordingly implement the marketing strategies. The needs of the customers are influenced by the culture, belief, personality, lifestyle etc. Bentley Motors has used a selective targeting strategy to make its products attractive to the targeted segment (McDonald and Wilson, 2016). Its proper positioning has also helped in positioning the brand in the minds of the consumers. It has always tried to highlight the key benefits of its products and services which creates a sense of pride and satisfaction among consumers and persuade them to buy its products. Better product offerings:Mostly companies offers more than one product and services so it becomes important for the organizations to make its products attractive in terms of packaging, appearance. Here marketing plays an important role in designing and managing the products and making a difference from its competitors. Bentley Motors is the leading premium car brands in the world. It has a rich product portfolio. There are different models such as Mulsanne, flying Spur, Continental, Bentayga and Heritage models. These cars are manufactured based on the
needs of the customers. Bentley has a huge demand for its racing cars and it keeps on changing the design which makes it more fascinated to the consumers. Keeping up with the competition:The marketing department is responsible for researching about the competition and competitors and keeping up with them in order to know about its up coming plans, products, strength and weaknesses and learn from the mistakes of competitors, how competitors have maintained their relationship with the customers, what are the marketing strategies used to enhance its brand image. Bentley Motor's marketing department is always engaged in some or the other marketing campaigns to increase its product and brand visibility. It has raised£500,000 through its sponsored initiatives for various charities, it also supports various social events through sponsorship such as Nantwich Holly Holy Day and annual food and drink festival which has created a positive public image and to be competitive. Increasing visibility among customer:It refers to engaging and hearing out the customers views and opinions. Marketing department monitors the changing demand, competition and change the marketing plan and strategy to be competitive and retain the customers (Armstrong, G. M. and et.al, 2018). Bentley Motors have customers in the age group of 40-60 years, who are super rich and wants to live a classic life. Bentley Motors have associated with Hollywood film industry and various sport events which has helped brand in increasing its visibility in the market and show its advance technicalities and performance besides its magnificent design. Also, it has come-up with various initiatives where it encourages its customers to interact with the team and share their opinion through twitter, Facebook, Instagram etc. Adapting the right price:Price is an important element in the marketing and proper marketing strategy helps in setting up right price which in turn increases revenue and customer base for the organization. Bentley Motor's luxuries cars are targeted at the rich section of the society and the reason for its high price is that, it's cars are manufactured by hand, requires high quality materials and extreme level of craftsmanship. Its labourers are also paid high due to nature of the work. So adapting the right price is very essential for Bentley Motors as it has to maintain its luxury brand value for targeting the set consumer group. Expandmarket:Marketersusesvariouscommunicationtools,forinstance,advertising, promotion, event marketing, sales etc. to promote its products and services. Emerging sources of marketing have made it more interactive (Martin, 2015). Bentley Motors believes more in ethical marketing. Other than advertisement in TV and internet, Bentley uses engineering marketing
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techniques to make its product and services visible on international level. It also participates in various events and shows which helps in market expansion, increasing brand value, enhancing revenue and increase profitability. To be creative and Innovative:It is the responsibility of marketing department to introduce new and innovative ideas whether for promotional purpose or new product launch in such a way to create additional revenue. Bentley Motors is very innovative, it keeps on changing its design, features, techniques which attracts more customers towards it and enhances the customer base and take competitive advantage over others. P2 Roles and responsibilities of marketing in relation to wider organizational context Marketing has different roles and responsibilities in case of wider organizational context starting from market research and analysis to implementing the strategic marketing plan to achieve the target as well as objectives of the organization. Bentley Motors has several functional units which have significant relationship with marketing. Some interrelationships have been discussed below. Marketing and Finance:Money is the major component in every organization. Marketing department provides the market research information and plan to finance department which in turn supports it with lot of statistics and useful information with respect the prices consumers are expects for a product and willing to pay for it. Finance department provides funds/ budget to the marketing department to carry out the marketing activities. In big organizations like Bentley Motors, finance department creates forecasted financial statement for short term and long term which helps marketing department for setting its objectives and marketing policies. Marketing and Human Resource:Human Resource department always works on increasing productivity of each ad every department. It also helps in gathering potential and experience through its training sessions and by recruiting the required and potential personnel. Marketing department has a strong relationship with HR department as in order to have a great team, it requires to have a good connection with the HR who will subsequently recruit new personnels and provide training from time to time upgrade the employees skills. Bentley Motors, has sufficient and efficient HR department which helps in making a strong and efficient team and maintain harmony in the organization. Marketing and Research and Development: R&D is the continuously working department in any organization which generates new and innovative ideas (Chand Smriti, 2019). Research is
done on the marketing research and analysis. Bentley Motors makes sure that all the research is carried on the basis of market research and information gathered. The customer need is the central to any new research and development in order to provide products that satisfy the consumersneeds.Itmanufacturesitsproductsbasedoncustomerbeliefs,needs,status, preferences etc. MarketingandProduction:Aftermarketingdepartmentgathersinformationaboutthe customer needs and wants, it sends the information report to the production department in order to produce what people need and in what quantity (Kerr and Patti, 2015). Marketing department also research about the consumers dislikes and helps production department to improve the product quality. Bentley Motors has efficient or structured production system which can be easily changed as per the requirement. Apart from this, logistics is also researched to provide products to consumers efficiently and effectively as and when they require, which includes warehousing, mode of transportation as well as real time tracking technology. LO2 P3 Comparative way to apply marketing mix Basis of comparisonBentley Motors LtdLand Rover
ProductBentleyMotorsLtdoffers luxurycarsandSUVswith numerous features and colour combinationstoservethe luxury car experience to all its buyers. Theproductrangeofthe BentleyMotorsLtdiswell sufficient and dynamic to cope upwithallthedesiresand expectations of the customer's. BentleyMotorsLtdhasthe goodimagebecauseofthe qualityluxurycarsandthe companyalsointroduce differentandupgraded technologytoenhancethe caringexperienceofallthe buyersanditalsoleadsto consumer satisfaction. Land Rover also offer luxury carsandsportscarswith plenty of features and colour combinations to give the best car experience to all the car lovers (Land Rover Marketing Mix (4Ps) Strategy.2019). TheproductrangeofLand Rover is also wide in nature but the company is not best knownforthedynamic productrangethatsomehow leads to reduce the customer satisfaction. Land Rover offers variety of servicesbutthecompany could not cope up as per the consumerexpectationsand demands in term of technology up-gradationandrelated aspects that could impact the customer'sexperiencerelated to the car in a negative way. PriceBentley Motors Ltd carries the good image in regard to the affordablecarrangeas comparetootherluxurycar brands across the UK and even at the global level. Bentley Motors Ltd has a huge consumerbaseacrossthe LandRoveralsooffersthe numerousluxury car choices butthepricerangeofthe companyiscomparatively high in the context of other luxury car brands like Bentley and others.
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globeandthemajorreason behindtheservicesofthe company(BhasinHitesh, 2019). The company's product range and its related services are well enough to justify the prices of the company and it also improvedthe trust factor for the company amongst all its buyers. Land Rover offers numerous facilities with all its products butstillalltheconsumer's feels over charged most of the timeascomparetoother companies in the auto-mobile sector. PromotionBentleyMotorsLtd promotionalaspectsarewell dynamic and creative in nature that helps the company to give thebestshapetoallits marketing campaigns. Bentley Motors Ltd is among thetopbrandintheauto- mobileindustryandthe company'slegitimateand effective marketing campaign isoneofthemajorreason behindsuchsuccessofthe company. Marketing management of the Bentley Motors Ltd plan all its promotional aspect in a way that the company could bring out the best result in the favour of the company as an output of thepromotionalcampaigns Land Rover also utilize all the marketing channels as a part of company's marketing program. Promotional aspect of the Land Rover looks not sufficient as the company's presence in the auto-mobile sector is not much aggressive and the diminishing saleofthecompanyinthe recentyearjustifythe weaknessofthemarketing campaign of the company. Marketing team of the Land Rover also keep the budget for all the promotional aspects of thecompanyhighthatalso bringextraburdenon company's selling prices.
and the company's budget also feeloptimuminsucha context. PlaceThepotentialareaforthe Bentley Motors Ltd in term of consumer base is estimated as worldwide. Thecompanyhasthehuge presenceintheauto-mobile industry across the globe. All the developed as well as developingcountrieshasthe hugemarketforauto-mobile industry and the company has a specific presence in all such market. Intherecentyearsthe company'smarkethasalso expandedduetocompany's performance across the globe in the auto-mobile sector and thecompanywitnesseda potentialimprovementinits consumer base. LandRoveralsohasthe consumerbaseacrossthe globe. All the customer's of the Land Rover arebasedin different partoftheworldandthe companyhaswitnessedthe worldwidepresenceinthe auto-mobile industry. Land Rover customer has seen afewdownfallacrossthe globe in the recent past years thatalsoresultintoreduce market place for the company. PackagingTheproductionteamofthe BentleyMotorsLtdfocus specifically in the process of finishing related to all its cars. The company's give the perfect shape to all its products with Production team of the Land Roveralsogiveaproper attention to finishing of all its cars (Baker and Hart, 2016). The company shape all its cars withaproperpackaging
anattractivefinishingthat improvetheultimate presentation of the company. Packaging of all the cars of BentleyMotorsLtdbring specialattentionofallthe consumer's as the company use creativeandattractive packagingtoupliftthe consumer satisfaction. techniquestoimprovethe consumer experience related to all its cars. ProcessThemanagementofthe BentleyMotorsLtdisbest knownforitsmarketing practicesandprocessesthat give the perfect boost to all the sales of the company (Jackson and Ahuja, 2016). Themanagementand marketing team of the Bentley Motors Ltd channelize all its marketingprocessinaway that company can utilize all the potentialandprofitable marketing methods like social media marketing channels and many others to bring the most optimum result for company's performance. LandRoveralsoutilize multipleprocessesto channelizeallitsmarketing campaigns. The company has seen recent downfall in its sales and the insufficientprocessofthe companyinregardtothe company's marketing policies can be expected as one of the factor behind. PeopleTheproductrangeofthe Bentley Motors Ltd cover all LandRoverconsumerbase also cover Business class and
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the business class and upper middleclassbackground peoples. Themanagementofthe BentleyMotorsLtdcould touch well enough consumer base across the globe with the helpofpotentialmarketing strategies of the company that couldenhancetheconsumer base of the company. Uppermiddleclass background people. LandRoverhasawell- establishedmarketbutthe marketingstrategiesofthe companystillseems insufficient to reach all the car enthusiasts across the globe. LO3 P4 Marketing Plan Executive Summary The management of the Bentley Motors Ltd is planning to launch new electronic car in the auto-mobile market of UK. Vision and Mission To get the new product launch a huge success in the auto-mobile market of UK with an effective marketing strategy. Objectives To generate the attention of all the car enthusiasts in the market. To increase the market share for the company in the auto-mobile market of UK. To increase the profitability of the company by 30% with the new car launch. PESTLE Analysis PESTLE Analysis for the new product launch of Bentley Motors Ltd is analysed with the analysis of the above factors. Political Factor:All the policies of the UK Government favours the new product launch of Bentley Motors Ltd. This new car is environment friendly because its an electronic car and all the policies of the government in UK is well suitable for the success of this new car. The government also provide multiple tax benefits in the UK for this segment that also beneficial for
the company to generate more profitability with the launch of this new product. Economical Factor:Stability in the economy of the UK is also a positive aspect for the new product of the company (Tomsová, 2019). Economy of UK allows the people in the country to spend a good amount because of the proper flow of money in the market and this can lead to a better market for the new product launch of Bentley Motors Ltd. Social Factor:People in UK is always supportive towards new products. The car enthusiasts in UK always prefer environment friendly products. All such factors create a better and profitable market for this new product launch of the company. Technological Factor:The people in UK are very much keen towards new technologies. This new product of Bentley Motors Ltd is totally based on the technology and that will generate the huge attraction and enthusiasm in the people across the UK.. Legal Factor:The management of the Bentley Motors Ltd will make a properstrategy that will involve all the laws, rules and regulations of the UK Government in respect to this new product of the company (SACHON and WELTER, 2018). All the policies of the company will be as per the laws of UK and it will also follow all the guidelines of the UK Government in respect to the electronic cars. Environmental Factor:This new product is environment friendly. People in UK are very much aware about environment protection and its related aspect. Because of the environment friendly nature this new product will bring extra attention of the people in UK. 7 Ps of Marketing Product:Electronic cars has a separate consumer base in the market and the emerging demand of electronic cars in the auto-mobile market is a valid justification to that. Bentley Motors Ltd can generate a profitable business with the new launch of electronic car as all the car enthusiasts are very much keen to adopt this new inclusion in the auto-mobile market of UK. Price:The management of Bentley Motors Ltd is planning to set the price that is best suit for all the potential buyers of UK in regards to this new product line of the company (Serrat, 2017). Electronic cars are always a convenient option as it reduces the maintenance cost for all the buyers so the company can potentially improve the profitability by achieving a good sales figures for this new car launch. Promotion:The marketing team of Bentley Motors Ltd will promote this new poduct at all the marketing channels that carry the good potential to generate the best results for the copany.
Place:The marketing team of the company will channelize all its marketing strategies at multiple marketing places not just in UK but also across the globe. The company will also utilize all the potential social media networks for the promotional aspects. Packaging:The company is planning to use the dynamic and attractive packaging technique for the new product to give the best shape to the product and also to attract all its potential customer's. Process:The marketing strategies related to the new product of the company will involve all the potential aspects that can result into productive marketing campaign for the new product. The company will also introduce some new promotional methods with the help of some awareness campaigns across the globe to create the awareness in the people is regards to this new product of the company. People:The company will reach to all the car lovers through the potential marketing strategies. All the marketing strategies of the company will be as per all the potential customer base related to the electronic car segment. STP Segmentation:Segmentation is a process to saperate the potential consumer base form the market. The marketing team of Bentley Motors Ltd will use proper segmentation techniques to identify all the potential customer's for this new product of the company (Hair Jr, Page and Brunsveld,2019).Segmentationhelpsthemarketingteamtopreparethemostsuitable marketing strategies related to the product based on the potential buyers related to the product. The company will follow all the segmentation techniques to make the profitable marketing strategies for the product. Targeting:In the process of Targeting the marketing team of Bentley Motors Ltd will identify the actual target consumer's as per the segmentation process (Evans, 2017). In this process the company also plan a proper strategy to target all the potential consumer's. Positioning:Positioning can be specified as the outcome of both the segmentation and targeting process. Based on both the process outcomes the company will plan the proper marketing strategies to position the new product of the company in front of all the potential buyers in the best way possible to generate the most profitable business outcome out of the new product sale. Budget The company plan to set a budget of 40000£ for the marketing campaign related to the
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new product of the company. Control and Evaluation The marketing team of the Bentley Motors Ltd will utilise all the satisfactory measures to rate the performance of the new product in the market. With the dynamic strategies of the marketing team the company will shape the market for this new product performance. CONCLUSION From the above analysis, it can be concluded that there exists a strong relationship between marketing and other functional departments which helps in proper functioning of the organization. Bentley Motors has successfully implemented the marketing mix in order to achieve its organizational objectives. It has helped in knowing the current position of the organization and how it is helping the business in fulfilling its goals and what will be the future steps to grow and expand the business. Comparing the 7Ps also helped in taking competitive advantage or first mover advantage. At last, a detailed marketing plan reveals the steps that needs to be followed for introducing new product in the market and achieve success.
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