The Importance of Marketing Functions in Business Growth

This assignment discusses the importance of marketing functions in a business's overall success. It highlights the key elements of marketing mix and how they contribute to a company's ability to effectively market its products or services. The report also emphasizes the need for businesses to utilize various marketing functions to gain a competitive edge in the market and achieve their objectives.

MARKETING ESSENTIAL

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Different roles and responsibilities of marketing function ...................................................3
TASK 2............................................................................................................................................5
P2 How marketing function is interlinked with other functional area of organisation ..............5
TASK 3............................................................................................................................................6
P3 Marketing mix of 2 organisations & tactics used by it to attain objectives................................6
TASK 4............................................................................................................................................9
P4 Marketing Plan of Yours Destination ...................................................................................9
CONCLUSION .............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
The concept of Marketing mainly deals with buying and selling goods and services that
creates value for customer in terms of meeting their needs and requirement in an effective and
efficient manner (Blythe, 2012). The success and growth of any organisation depend upon how
they market their products or services in the market place. It mainly taken into account so as to
create, satisfy and retain customer for longer period. Your Destination is a transport company
that mainly deals in providing transportation services to domestic population all across the UK.
The company wants to expand its business operation in other international countries. It covers
roles and responsibilities of different marketing function, how marketing function is inter-related
with other organisational department, marketing mix of two organisation and marketing plan
TASK 1
P1 Different roles and responsibilities of marketing function
The concept of marketing is related with exchange of product and services that takes place
between company and target customer (Berkowitz, 2016). The main purpose of every
organisation is to effectively fulfil customer's diverse needs and wants by providing them such
goods and services that creates value for them. Following are the roles and responsibilities of
different marketing function of Yours Destination:
 Marketing Information System: It refers to the system that collect or gathers
information related with likes and dislikes of potential buyers. Organisational success and
growth depend upon how effectively they meet customer requirement and for it is
primarily important for them to figure out what are the actual needs and wants of
customer. In today's era choices of consumer are changing rapidly which stimulate
business firm to determine it and takes necessary actions accordingly. In context of
Travel and Tourism, liking of clients are changing rapidly. Therefore, Your Destination
has decided to use Cloud Computing Tool so as to figure what are their actual needs and
wants.
 Promotional Channel: The term “Promotion” deals with how company advertise its
product or services among customer in the marketplace. It is chiefly essential for business
enterprise to select most appropriate and effective channel of promotion that instantly
seize the attention of customers. Some of the most common channel of promotion is
digital, electronic, print and social media. Advertising product or services is necessary for

every company as it help in attracting new consumers and retain existing customers
(Brassington and Pettitt, 2013). As the marketplace changes, the firm needs to tailored its
promotional strategies so as to deliver its brand message and products among target
audience in an effective and efficient manner. Presently, Your Destination is using print,
social media and digital media for promoting its services. In-fact their social media
strategy is the most effective among all.
 Pricing Strategies: Setting right price for the respective product or services sometimes
serve as a challenge for the company. If the prices set by them are too high and doesn't
create value than it may make customer dissatisfies and enable them to shift to some
other competitor brand prevails in the market that is offering similar product or services
but at relatively lower rate. On the contrary, if the prices fixed by firm is low then it may
affect their overall profitability. The “right” price normally generated through trial and
error method and extensive market research. Your Destination sets the prices of their
product or services in such a manner that creates value for them.
 Financing Strategies: It requires money to make money. One of the crucial function of
business owner is find appropriate source of funding that assist them in running and
managing their business operation smoothly. Normally, there are two types financing
sources available in the market namely Internal and External. Internal sources means
when funds are available within the company only such as ploughing back profits,
retained earning, long term asset that are no longer in use. External source of funding
incudes such factors that are available outside the company mainly in the form of
investments, creditors, banks, individual donors, angel investors etc. Choosing right
source of funding is very necessary for the company.
 Product and Service Management: After identifying target market and setting
appropriate price for the particular product or services, the next main step is to manage
the good and services in an effective and efficient manner (Cavusgil and et. al., 2014).
This can be attained by listening to customers, taking suggestion and opinion from them,
responding as per their needs and wants and keep their product fresh and up to date.
 Distribution channel: This marketing function deals with how the company sells their
product or services in the marketplace who actually wants it. Choosing right distribution
channel is very important for the business firm as it is the only source through which they

can generate significant amount of funding. Your Destination is mainly selling their
services through their physical shop and also selling through their online website as well.
TASK 2
P2 How marketing function is interlinked with other functional area of organisation
Marketing is define as such division of an enterprise whom used to engage in exchange of goods
and services and used to made products available to target individual (Cooper, 2013). There are
various kinds of functions are taking place in an association whom have a inter relationship with
each other and such link facilitate in define better goals and targets for a firm. Your Destination
is one of a major transportation company in UK where they need to determine the link and
relationship of various functions of an enterprise so that better and supportive outcome could be
drawn. Below is a link among the various department with marketing function of a company: Finance and marketing division: Finance is a basic need of an organisation which used
to enable in operate things better and effective in nature. Without finance and value
organisation would not become able to manage and facilitate their activities properly.
Thus, management of Your destination have to understand the link among finance and
marketing with each other so that they could manage their diversified operations.
Marketing division have to relate their working with finance department so that they
could facilitate appropriate fund for managing their marketing activities. This will enable
them in maximise better and effective return in frame.
 Human resource with marketing: Another relationship facilitate with HR department
and marketing unit. Here, management need to understand the basic requirement of a firm
vacant job positions and used to fulfil it properly. Here HR division need to understand
such individuals of marketing team whom have potential to define spark in their sales and
productivity. Thus, such attribute need to address properly when marketing team have
such individual which could be implement better working efficiency. This will result in
accomplish all goals and targets properly which further assist in generate more
profitability (Jones and Rowley, 2011)
 Sales with marketing: Both selling and marketing function is interlinked with each
other. As selling function mainly deals with how company delivers their product or
services to target customer so that it can effectively fulfil customer needs and wants. Here
the role of sales manager is very important. They collect information related with buyers

likes and dislikes, ask feedback and suggestion from customers and analyse the current
market demand. After gathering all such information they simply pass on this information
to other organisational department so that they can make changes in existing goods or
services as per the market demand (Lilly, 2013).
TASK 3
P3 Marketing mix of 2 organisations & tactics used by it to attain objectives
Marketing mix is defined as the tools which are utilized by firm to find out its objectives
in market place. For increasing growth in market and systematic expansion of business, firms use
the concept of marketing mix. Several tools and techniques of marketing are used by firm in
order promote their product worldwide. It assists managers in developing effective strategies.
Firms utilize marketing mix so that appropriate strategies can formulated and plans can framed
that helps in attaining objectives of company in an effective and efficient manner. It is required
by managers to identify the market area where they want to serve its products. Effective
strategies are needed to be formulated by manager of Your Destination so that high productivity
can be attained in appropriate way.
Marketing Mix Your Destination National Express
Product Products refers to an item
which firm offers to their.
Your destination deals in
transportation business and
administers services related to
transpiration to customers.
Along with this, courier
services are also provide by
firm to their target market.
Your destination use effective
marketing strategy for selling
their goods and services in
market. They ensure to deliver
Buses, trains and coach
services are rendered by
National Express to their
potential customers. Along
with this, transportation
services are also administered
by firm. For competing with
rivals in effective way,
physical and intangible things
and provided by tour operators
to their customers.

services to customers on time.
Price Price is the amount paid by
consumers in order to get
services. Competitive pricing
is one of the strategy that is
adopted by Your Destination
for competing its rivals and
competitive advantage in
market. Due to low pricing
then competitors, customers
prefer to buy their services
more than competitive firms.
National Express use different
pricing strategy. They follow
differentiation strategy in
which they provide some
discount to customers who
book tickets early whereas late
comers have to pay full
amount. Firm encourage
clients to visit their websites in
order to get maximum
benefits.
Place It refers to an area where an
enterprise sell their goods and
services. Due to global
presence of company, they
enable to reach large group of
customers. As the firm
operates in several countries,
their reach to customers are
more.
Place can be one of the main
component for firm as it
provides competitive edge to
firm. It is the area where
company perform its
operations and do business
transactions. National Express
run their operations
successfully in many countries
by administering effective
services to people. It assists in
attaining objectives of firm on
time.
Promotion It includes all those activities,
tools and techniques that
assists in effective promotion
of goods and services in
market. Several promotional
For communicating value and
benefits to their customers in
an effective way, firm use
various communication
channels. Personal selling,

tools are utilized by Your
Destination like web portals,
social media, television,
newspapers etc. for effectively
market their product. The
company sponsor itself in
international programmes for
boosting their sales.
advertising, promotion etc. are
the tools used by company for
enhancing their sales.
Involvement of high end
technology assists firm in
improving their profits.
People People includes all those
individuals of contributes in
successful running of business
operations of firm. Success of
company highly rely on its
employees. So, managers of
Your Destination emphasize
on selection of appropriate
candidate who have ability to
attain objectives of firm.
The company, National
Express emphasize on
selection and knoledgeable
candidates who have ability to
attain objectives of firm in an
effective way.
Processes It is the way by which firm
deliver their service to
customers. Quick booking
services are provided by
company to their customers.
Fast processors are utilized by
company so that customers are
able to book their tickets as
fast as possible. It includes all
the tools that firm use to
deliver services to customers.
Physical evidence It defines as a place or
physical area where customers
and business interact &
services are delivered to
consumers.
Booking receipt is provided by
National Express to its
customers in the form of
physical evidence.

TASK 4
P4 Marketing Plan of Yours Destination
Executive Summary:
Marketing Plan is a comprehensive document that outlines company's marketing and
advertising efforts for the coming year. It mainly describes all business activities concerned with
accomplishing overall market objectives within stipulated time-frame. This plan includes
background and purpose of business. Goals and objectives are set and target audience for firm is
determined. Various marketing mix strategies used by firm are included in marketing plan that
assists in successful attainment of goals and targets.
Background, purpose and focus:
Your Destination is a transportation company in UK that provide specialised
transportation facilitates all across the world. The company is growing rapidly and from past 3
years of successfully operating in Essex and London, the company has gained popularity by
offering excellence transportation services in other international countries as well. Presently the
company is focusing on expanding its business operation and activities in other growing overseas
market. The purpose of firm is to maintain strong position in market and get competitive
advantage over their rivals by providing excellent services to potential customers.
Vision Statement: “To earn lifetime loyalty of potential buyers by constantly delivering high
performing transport services which offers excellent value”.
Mission Statement: “To capture large market share and gain high competitive advantage in
overseas market”
Situation analysis (SWOT Analysis):
Strength Economy of Scale: In 2017, the estimated annual turnover of
Your Destination is near about £1 billion. The company is
gaining high competitive advantage in overseas market as they
are they are expanding their business activities in growing
economy which gives them the advantage over other existing
competitors.
Customer Service: The main strategy of Your Destination is to
provide great customer service to its passengers. The company
has manage to introduce themselves as the market leader in the

other developing economies through great customer services
and strong customer relationships.
Weakness Pricing: The strong competitor of Your Destination is National
Express that offers their product or services at competitive
pricing that posses direct impact on their total revenue and
profit collected throughout the year. Mega bus is one of their
main competitors that also provide similar services but at
relatively cheaper or economical rate.
Long Routes: Your Destination also offers inter-country long
routes for its passengers. With longer route and cross-border
overall operational cost of company increases. As a result, price
increases.
Opportunities Decrease Operational cost: The company is enjoying great
opportunity in terms of reducing operational cost by working
alongside other service providers and suppliers. In addition to
that the company holds strong bargaining power in the market
place.
UK host large number of tourists: UK holds 8th position as the
biggest tourist destination all across the globe. According to the
statistics data it has been figure out that near about 36.5 million
visitors visit UK in a year.
Threats Emerging Rail Services: Presently the size of Railway sector
is increasing tremendously that indirect gives strong
competition to Your Destination. Rail companies focuses on
improving their competitive status by providing such services to
domestic population that creates value for them. In addition to
that, it has also been figure out that rail journeys are more faster
and comfortable. As a result it possess great threat to
transportation firm such as Your Destination.
Britain's Departure from the European Union: In the year

2017, approx 71% of total operating profit was earned outside
the UK. From Spain and Morocco, Your Destination has
generated 36% profit. As the UK is leaving the European Union
it is adversely affecting its overall business operation and
functions of Your Destination as majority of their profits
generated through European Union.
Target market:
Target market for your destination is middle class people as well as business class people
as they travel more for the purpose of office work.
Goals and objectives:
 Main objective of company is to provide excellent services to people and provide them
various facilities which assists in gaining high profitability.
 To increase sales by 20% in next 2 years.
 To gain high competitive advantage in market and attain strong position for long term.
Marketing mix strategies:
Product It is a transportation company that mainly deals in providing
transportation services to local public. In addition to that, it also deals
in providing courier related facilities that effectively fulfil the need of
customer.
Price The company is providing their service at economical cost. This is
mainly because there is strong competition level exist in the market
place which enables them to provide services at relatively lower prices
from other competitors who are also providing the same services.
Place The company is mainly operating in UK but now they have expand
their business activities in other international countries as well so as to
gain high competitiveness level in overseas market.
Promotion The company is mainly promoting their services through digital, print,
electronic and social media platform. Company makes services so as
to effectively fulfil customer diverse demand and needs but for this

they need to properly promote it among target customers so as to
make them aware about the products or services that company is
selling in the market.
Monitoring and Controlling:
Once the company is done with formulating all strategies concerned with marketing and
advertising activities, the next role of marketer is to figure out whether all planned activities are
executed in proper manner or not (Malhotra, Birks and Wills, 2013). However if the manager
observe any variance they are required to take necessary action so as to cope up with in an
effective and efficient manner.
Marketing Budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money 3000 6000 8000 10000 12000
Investment 13000 20000 25000 12000
Total 3000 19000 28000 35000 24000
Marketing outlay
Promotion 4000 2000 3000 4000 2000
sales publicity 4000 4000 5000 3000 3000
Direct selling 4000 3000 4000 3500 4500

Total 12000 9000 12000 10500 9500
CONCLUSION
According to the above mentioned report it can be concluded that the heart of every
company lies in their marketing process. Firm's entire growth and profitability depends upon
how effectively they take the advantage of various marketing function. In addition to that,
marketing function also provide assistance to other functional area of business so that all can be
carried out in a structured and through manner. With the help of different elements of marketing
mix it has it has become much easier for business enterprise to gain high competitive edge in the
market. Also it assist in business owners in framing appropriate customer and purchasing
decision so that overall objectives and goals of business can be accomplished in an effective
manner.

REFERENCES
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