Table of Contents INTRODUCTION...........................................................................................................................1 MAIN BODY...................................................................................................................................1 TASK 1............................................................................................................................................1 P1. Key roles and responsibility of marketing functions.............................................................1 P2. Evaluate that how marketing roles & responsibility linked with organisation process.........2 M1. Analyse the roles & responsibility of marketing in context of business environment.........3 M2. Analyse the significance on interrelation between marketing & other organizational units4 D1. Critically analyse the marketing functions and how they interrelated with other units of business........................................................................................................................................4 TASK 2............................................................................................................................................5 P3. Evaluate that how organizations apply marketing mix in order to achieve business objectives.....................................................................................................................................5 M3. Evaluate different tacticsused by organization to achieve organizational goals& objectives.....................................................................................................................................7 TASK3.............................................................................................................................................7 P4 & M4. Develop basic marketing plan in context of organization along with evidence........7 D2. Strategic marketing plan that applied 7P's in order to achieve marketing objectives.........10 CONCLUSION..............................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Marketing is the practice which helps the individual as well as overall organization to sell their products in the market in order to maximise their profit margin. Basically marketing is the process to interact with their potential customers or clients(Baker and Magnini, 2016). This process include the various activities such as research, promotion, selling, distribution, feedback etc. According to current scenario of business environment, market is essential for every organization is they wanted to increase awareness regarding their products & services. In order to get better understand of this concept, this report select eBay and compare its business stargates with other organizations. This project report cover various topics such as roles & responsibility of marketing functions and how they interrelated with other business units.In addition, it include the marketing mix of the choose company which helps in achieving business objectives and evaluate a basic marketing plan in context of organization. MAIN BODY TASK 1 P1. Key roles and responsibility of marketing functions Overview of Organization: eBay is an American multinational e-commerce company and it based in San Jose, California, U.S. Company founded in 1995 by Pierre Omidyar and there operations in about 30 countries. People can buy or sell product through online auction where variety of goods & services buy & sell worldwide. It is an online shopping website which is very popular among the customer due to their unique feature to sell old product and the needed person can buy it. Marketing function helps a entity to analyse or identify the potential goods which helps the organization to satisfy their customer's needs & desires. By using these functions, company able to achieve their business goals & objectives(Bünte, 2018). In context of eBay, there are various functions perform by the organization and it included certain roles and responsibilities which discussed below: Promotion: It is the basic function of marketing to promote their products in the market in order to increase their demand which automatically increase the sale and then profitability. By using advertisement mode to promote their product is become very common. If business wanted to do something different then they have to build strategies accordingly. Promotion is a kind of 1
communication between persons who buy and sell products or services. In context of eBay, company uses online promotional strategy to advertise their products for their customers. ProductDevelopment:Atthetimeoflaunchingorintroducingnewproduct, organization use this function where before launching new product in the market for the use of customers. Product will be introduced in two ways either totally new product or done few changes in the existing product. Marketing plays very important role for product development so managers have to build strategies accordingly. In context of eBay, they provide online platform to their customers to buy or sell goods as per their price range and keep updating their content as per the requirement of customers. Marketing Strategies: It include various policies or actions which helps the employees to perform their task accordingly. It is one of the important function of marketing because without formulating strategies business enable to perform each step. Managers of the company build strategies in order to achieve business goals & objectives(Cabrera and Williams, 2014). Company develop marketing plan where they define the way of performing and for it they required good research. Because market research will helps in analysing customer needs, taste, preference etc. And further strategies develop accordingly. Managers of eBay analyse these factors before developing any strategy for business. Market Research: It is one of the important marketing function where before developing any product they have to done intense research about it. Here manager identify taste, desire or need of customers and then research about their competitors in this field. eBay company regularly research the market in order to identify current trend of market which can become opportunity in the future. Abovementionmarketingfunctionsplaysveryimportantroles&fulfiltheir responsibility in order to achieve business goals & objectives. By using these functions, managers able to develop product and done its marketing in order to generate interest among the customers. P2. Evaluate that how marketing roles & responsibility linked with organisation process Marketing is not limited with the sale of goods & services it is also interrelated with the other business units of the company. Marketing have to perform from business point of view, customer point of view and fulfil their responsibility which helps in achieving business goals & objectives. eBay is an American based e-commerce multinational company which provide online 2
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platform to sell or purchase goods from suitable price range. Company perform on very large scale so it important to have effective relation with other business units. Such as finance, human resource, operations etc. In context of eBay, interrelations of business functions are discussed below: Marketing and HR department: HR department plays very important role in the organization through hiring skilled people which helps the business to achieve their task and perform effectively. HR function is responsibility to select skilled or talented people workforce in the organization(Davari and Strutton, 2014). Managers have to ensure that, if individual perform well they they will be rewarded for it because it will motivate them to perform better. On the other hand, company have to promote their brand and products so they use various promotionalstrategies.ThisprocessalsodonebyanypersonwhichrecruitbytheHR department and provide necessary training to enhance their skills. So interrelation of business units of eBay will helps the organization to hire talented people which helps in achieving their marketing goals through formulating effective strategies. Marketing and finance department: Finance department have responsibility to manage finance and monitor the resources. This function include the various activities such as developing plan, organising budget, audit the results and control the overall financial structure. Finance department have responsibility to prepare budget and keep updated on timely basis. They also play major role through allocating & distributing funds among the different departments in order to complete their task or perform smoothly. In context of eBay organization, management have to ensure that coordination between finance and marketing department need to be effective. Because marketing department required funds in order to develop marketing plan, strategies etc. In addition, company required additional money for promotional strategies which further provide benefits in monitory terms(Festa and et.al., 2016). Interrelation among the different department will promote effective communication which helps in reducing unnecessary activities ans cost as well. It will be analyse at the time of preparing budget and they make sure to control over every wasteful activities. M1. Analyse the roles & responsibility of marketing in context of business environment Marketing department perform various roles and responsibilities which helps the business toachievetheirgoalsandobjectives.Roles&responsibilitiesperformedbymarketing department of eBay are discussed below: 3
Marketing Information System-This system helps in collecting data which required by the manager in order to formulate strategies accordingly. With the help of this system, organization able plan, implement, control, formulate strategies and introduce new products which increase the profitability of the company. eBay used this system to collect information about various factors which is important to have and provide benefit to the overall organization. Monitor Market Environment-It also very important to analyse external factors because it is theresponsibility of marketing function to develop strategies to grow in the marketing environment. It further provide constructive response such as changes in market trends, economic and social forces. Along with this political stability, legal changes and adopt new technology etc. M2. Analyse the significance on interrelation between marketing & other organizational units In context of organization, interrelation between different departments such as marketing, finance, operations, HR etc. will helps in achieving business goals & objectives. HR department helps in recruiting right people for the right job. Where these people build various marketing strategies to increase productivity as well as profitability(Kahn, 2014). On the other hand, finance department develop budget for each functional unit of business, so they are able to perform their task such asmarketing department formulate promotional strategy to increase brand awareness which automatically the demand of product. It further helps in increasing productivity as well as profitability which fulfil the goals of business. D1. Critically analyse the marketing functions and how they interrelated with other units of business Marketing is very important for the organization as well as play very essential roles & responsibilitytobalancetheirdifferentdepartmentalfunctions.Promotionalstrategyof marketing will help the HR department to recruit talented people by using advertisement mode. With the help of market research, manager able to identify need or preference of customer which helps in developing product accordingly. Further these functions help the finance department to develop budget or allocate resources for other business units. Marketing used to enhance brand image which help the HR manager to getting skilled and talented people in the organization. In addition, finance department distribute funds as per the requirement of every department. 4
TASK 2 P3. Evaluate that how organizations apply marketing mix in order to achieve business objectives Marketing Mix is the set of actions which taken by the organization at the time of launching new product or dine some changes in the existing products. It further helps the manager to achieve their business goals & objectives(Kuntonbutr, 2019). It consist seven factors which influence the customers to purchase their products or services. Basically marketing mix used to accomplish organizational goals. In context of eBay, manager follow this strategy effectively. Overview: eBayis an multinational American based company which provide online platform to their customers to buy and sell their goods of their own condition. Currently company deals in the range of fashion, home, electronics, cosmetics and appliances etc. Objectives ofeBay: To build strong customer base through providing quality service and maintain brand loyalty in order to get sustainability. In order to become number one e-commerce company, manager ensure that they provide quality service ion comparison to their competitors and offer attractive deals to attract potential customers. eBay has various competitors because every business provide online mode of shopping which is beneficial for both. Before entering in the competitive market every organization have some gaols & objectives which they wanted to achieve and further they take necessary actions in order to complete it(Lane, 2016). Below mention marketing mix will evaluate that how different organizations perform their functions in order to achieve their business goals & objectives: Marketing MixeBayAmazon ProductCompanydealsintherangeof electronicitems,fashion,beauty, motors,health,sports,homeand gardening products etc. Amazon company offer product by usingonlineplatformwherethey offer various items such as fashion, homeappliances,cosmetics, healthcare, media content, electronic items etc. 5
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PlaceCompany reach almost 30 countries and serve worldwide in order to make theirbrandglobal(Leeandet.al., 2014). Customers can reach company any time by using websites and their mobile application of shopping. Amazondoesnothavephysical storesbecausetheydealonline. Currently company deal in 11 global countrieswhichincludedCanada, North America, Germany, Mexico, United Kingdom etc. PriceeBayfollowtwopricingstrategies such as prevailing market price and dynamic pricing strategy. It allow the buyersorsellerstonegotiatetheir productpricewhichcalledflexible pricing. Amazoncompanyfollow competitivepricingstrategiesand ensuretoprovidebestpricein comparison to their competitors. PromotioneBayfollowvariousmethodsof promotionssuchasonline advertisement on google, You Tube, television, news paper etc. Amazoncompanyuseonline method of promotion such as social media, television,news paper etc. ProcessCompany follow the simple process, if seller wanted to sell any product so they can post the picture along with fewlinesofdescriptionabout product. On the other hand, buyer can buythroughfollowingcommon process. After product shipped to the buyer and payment received by the sellerwillcompletethewhole process. Here customer have to follow very simple process where they have to placeonlineorderandchoose paymentmode(Londhe,2014). After getting product process will be completed and customer have return optionaswelliftheydoesnot satisfy with the product. Physical Evidence Company have physical evidence in form of eBay fulfilment centres which helps the customers through provinf informationregardingproduct Amazonselltheirproductswith unique colour packaging and their logo which can be easily identified. Along with this, official website and 6
receive, inspect, store and shipment. Website and packagingalso comes under the physical evidence. mobile application also determine as physicalevidencethathelp customers to track their product and keep records. PeopleIn the eBay company, around 12,600 people employed and perform their taskinordertoachieveachieve business goals & objectives. Digital marketing team of the company will continuously provide the assistance to the customers along with supervision. Withthehelpoflargedigital marketing team or online and social mediapromotionwillhelpthe company to attract large customers. Theyfurtherperformandkeep updatetheircustomersregarding latest offers and discounts. M3. Evaluate different tactics used by organization to achieve organizational goals & objectives 7P'sofmarketingmixhelpsthebusinesstoachievingorganizationalgoalsand objectives. It is important for every company to develop effective product which has market demand and fulfil customers needs & expectations(McDougall, 2013). Company offer long range of products by using appropriate pricing strategy and increase the availability through effective distribution channel. After various research, eBay launch its strategy to sell online products and set price accordingly. Company deals in various range of products such as fashion, home appliances, healthcare, motors etc. Company using flexible pricing strategy which attract large number of customers and further is help in maximising productivity or profitability. TASK3 P4 & M4. Develop basic marketing plan in context of organization along with evidence Marketing plan is the overall business plan which consist various marketing strategies in order to complete their business goals & objectives. Along with this, it include the list of actions or activities which required to perform to complete their task. Marketing plan develop for specific time period in order to achieve marketing objectives. Marketing plan help in improving business process and provide competitive advantage through introducing new product or service in the market. Such as eBay company deliver food in most effective manner. All the information listed in a document which implemented by the 7
company in effective manner and it include various tactics or strategies which adopted by the eBay company along with various tools & techniques. Below mention information required to produce marketing plan: Executive summery: eBay Inc is one of the largest online retail company of world and its effective mobile application will help the customers to feel connected with them(Mueller and et.al., 2015). This company provide a unique platform to the buyer and seller to sell their products on single platform such as cosmetic, fashion, electronics, motors etc. Company going to launch a new mobile application “eBay Food”. This application provide online food delivery options which is very beneficial for customers and it will save time and efforts as well. In order to increase demand among the customers they develop marketing plan which mentioned below: Mission: To provide global trading platform where anyone can take part and trade practically anything. Vision: To become customer's favourite place for discovering their talant of unique selection. Objectives: To increase their market share around 10% in the one year after launching their new mobile application(Pike, 2015). In this time period they motivate their employees to reach this target and through effective performance. To increase company's sales & profit margin up to 20% in up-coming year through satisfy their customers with effective services. SWOT Analysis: It is the framework which used by the organization in order to identify strength, weakness, opportunity or threats of the company. At the time of formulating strategies for marketing plan, manager of eBay company have to evaluate their business process with the help of SWOT Analysis and it discussed below: StrengthsWeaknesses Companyintroducenewmobile application for food delivery and it get hugesuccessbecauseoftheirgood reputation among the customers. Corestrengthiseffectiveorstrong customerrelationshipanditwillbe Biggest weakness of the company is technicalmalfunctioningbecause deliveryexecutiveswilldeliverthe food to other people rather than their actual customers. 8
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developed because of regular feedback from them and improve the area which required. Because of online services, company enable to provide product description which reduce their positioning in the market. OpportunitiesThreats Companyhasopportunitytoexpand their business in Japan market through launching food mobile application. Businesscanexpandtheirbusiness through merger or acquisition in the international market. Because of their good reputation in the market, eBay can launch new product in order to capture market share. Now company face huge competition in thesamenatureofbusinesswhich reducetheirproductivityaswellas profitability.Biggestcompetitorsin online shopping is Amazon. Rapidlychangeinthetechnology became threat for the company because change in the technology at very large scale is not possible and it required huge capital investment as well. STP Analysis: With the help of this analysis management of eBay company develop strategies and implement it accordingly. With the help of this, manager take effective decision in order to achieve their business goals & objectives. Segmentation: In this analysis company identify the segment where they identify the area who's they target for their product. In context of eBay company, they select the psycho-graphic segment where people are more digitalised and use internet on regular basis. Company introduce mobile application of food through analysing the demand of it in the market in this segment. Targeting: On the basis of segmented market, company further target this area and develop strategies accordingly(Pike, 2016). In context of eBay, they targeting people on the basis of income or usage of online services or applications. They targeting young generation or students who prefer to order food rather than wasting time on cooking because it will consume lots time, efforts and cost. 9
Positioning:Company launch their mobile application of ordering food which save the time of customers and done its positioning in the mind of customer as cost effective and time saving way or reduce their hunger. Organization use online platform to promote which attract more customers which they targeted actually. Marketing budget: MARKETING BUDGET (£) PARTICULARSIst YearIInd YearIIIrd YearIVth YearVth Year Initial money20006300122001416019970 Investment930010500238303163013550 TOTAL1130016800360304579033520 MARKETING OUTLAY Promotion47461459459318751211 Sales publicity1365800245214921050 Direct selling22351900465110004434 TOTAL814641591189644676405 Monitoring & Controlling: After implementing marketing plan in effective manner, it is essential for organization to control or monitor business performance on regular basis. In context of eBay, company monitor all the marketing activities and make sure that each action will be taken as per the strategies formulated by the manager with the help of marketing plan. At the of launching new mobile application for food, business have to use effective promotional technique which able to attract large customers and help the company to achieve their business goals & objectives. Name of mobile application is “eBay food” which provide online food delivery option to their customers from near by restaurants. In order to succeed this plan, eBay company produce market plan which include the vision, mission, objectives, SWOT analysis, STP, marketing budget etc. 10
D2. Strategic marketing plan that applied 7P's in order to achieve marketing objectives Marketing plan is the kind of documentation where each and every action listed and organization have to perform accordingly in order to achieve their business goals & objectives. In context of eBay, company launch mobile application with the help of marketing mix tool and it discussed below: Marketing PlanApplication on eBay company ProductCompany introducemobile application which provide easy access to the customers and purchase products any time. Name of this mobile application is eBay Food which provide fast delivery service of food to their customers. This application is the product of eBay company which they introduce among the customers. PromotionCompany use variouspromotional platform to increaseawareness among the people regarding their mobile application for food delivery. Suchassocialmediapromotions,affiliationmarketing,online advertisements etc. PriceCompany targeted all class of people so they charge price according to the food and restaurant charges. Each and every customer able to order food from any restaurant and it beneficial for customer as well to order food after checking their ratings & public review(Puddle, 2015). If any problem or quality related issues based by the customers so they can reach customer services and share their problem. So here eBay has to develop effective customer services in order to resolve each query of customers. PlaceMobile application can be operated in every operating system such as Android & iOS. This application will be available for worldwide use and through simple registration customers can use it and place their order. ProcessConsumers can download this food application from their play stores which available on both Android or iOS(Apple phones). They can simply place order through selecting restaurant or search item which 11
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they wanted to order. After this they have to select payment options such as online mode of payment or Cash on Delivery (COD). After receiving food, process will be completed. Food directly delivered to the customers. PeopleDigital marketing team of the company plays very important role because they handle all the online orders and further proceed for completion. Along with this, marketing team give lots of efforts to promote this application or attract large customers in order to increase productivity or profitability. Physical EvidenceIn this case, physical deviance of eBay company ismobile application which helps in delivering food to the customers through following simple process of placing order. After successful delivery of food, customer get the receipt of food delivery. CONCLUSION Fromtheabovediscussionithasbeenconcludedthat,inthecurrentbusiness environment marketing is very important which helps in making people aware about particular brand or product. In context of organization, every department have to perform well and their interrelation will improve the efficiency as well as effectiveness. With the help of marketing mix business able to identify their activities which they have to perform or achieve business goals & objectives. At the time of launching new product, it is very important to make marketing plan which include various elements which required to follow. In addition, if business wanted to expand their business in the foreign market so they have to done intense research about customer needs & expectation regarding product. Along with this, further strategies formulate accordingly which maximise productivity as well as profitability. 12
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