Marketing Essentials of Coconut Bliss
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Added on 2020-07-23
Marketing Essentials of Coconut Bliss
Added on 2020-07-23
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Marketing Essentials
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1P1 Description of the Roles and Responsibilities of the Marketing Functions......................1M1...........................................................................................................................................4P2. Ways through which responsibilities and Roles of marketing functions are related to theorganisation of wider level.....................................................................................................4M2...........................................................................................................................................6P3 Comparison of marketing mix of two companies i.e. Coconut Bliss and Cool Hempcompany.................................................................................................................................7M3.........................................................................................................................................10P4 Preparing marketing plan for Coconut Bliss...................................................................10M4.........................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14D. Steven White, 2010. “The Evolution of marketing”. [Online]. Available Through:<http://dstevenwhite.com/2010/06/18/the-evolution-of-marketing />. ..........................16
INTRODUCTIONMarketing is one of the very pivotal part of each and every firm or each industry. Thereason is that, it helps to aware people about the firm and products as well as services offered byit. Therefore, sales, profit and market share enhance of the business in the industry where itcurrently operates (Miller, 2017). The present project is based on Coconut Bliss Company whichoperates in the industry of food. The project shows roles as well as responsibilities of themarketing department which are essential for the firm. Apart from this, importance and ways bywhich roles and responsibilities of marketing are beneficial for the wider enterprise are describedin the study. Further, marketing mix which consists of 7 P's is analysed of Coconut Bliss andcompared with its rival also i.e. Cool Hemp Company Inc. At the end of project, a marketingplan for the selected company is prepared. For this particular task, business expansion ofCoconut Bliss in an emerging country i.e. China is taken into consideration. TASK 1P1 Description of the Roles and Responsibilities of the Marketing FunctionsEvolution of marketingMarketing is commonly believed to have established from five distinct phases ofevolution since from the beginning of time: simple trade era, the production era, sales, marketingdepartment and marketing company era (D. Steven White, 2010).Production concept: It has been prevailed from the time of industrial revolution until early 1920's,considered as idea that a firm needs to focus on those products and services that is more efficientand creation of supply of products will create the demand for products.Sales concept: By 1930's, mass production of goods has become a common place, with rise incompetition and there was little unfulfilled demand.Marketing and societal concept: After the completion for World war II, the wide range of varietyof products has been increased and there was now to rely upon to generate sales.Definitions:According to AMA (American marketing association): “Marketing is set activities,institutions and stages for creation, communication, delivering and offers exchanging which havethe value for customers, partners, clients and society at large”.As per the “Philip kotler” “It is science as well as art of explaining, creation, andproviding the value in order to satisfy the requirements of target market and earning profits. It1
also aims at identification of unfulfilled needs and desires to define the measures and alsodetermine the size of market which is identified and profits potential. It pinpoints whichsegments the organization is capable of serving the best and is designs and promotes theappropriate products and services”.From the CIM perspective “ Marketing is the process of management that is responsible foridentification, anticipation and satisfaction of consumers needs profitabily.The market research is a key responsibility for the marketing department. Increasing themarket share price, growing revenue and to contribute the organization growth and profitabilityhas the responsibility of the marketing department (Shin,2012). The strategy of seniormanagement team or board members to plan a campaign and they should reach the agreement ofmarketing department. Further, the organisation can identified the market opportunities andunderstand the consumer needs and wants to earn better feedback and grab the new challenges inCoconut Bliss. Every department have it owns research to analysis the market information anddata or report on industry projects to survey their needs and attitudes of contracting consumers.There are various types of roles and responsibilities of the marketing function such ascommunication, product development, events and promotion and sales support etc (Armstrongand et.al., 2014). Consider the production department to signifies the sales of existing productand found the product range it may be the opportunities and challenges of the organisation. Inthis process the department has produced the product according to their consumer needs and setthe price and prepare a plan or strategies to flow in the market segmentations. In the Communication process to promote the product and services of a communicationmaterial to plan campaign had developed the new ideas to implement the Coconut Bliss tocustomers and prospects (Hansen, McDonald and Mitchell, 2017). They include the Boucher,product leaflets, product data sheet or a customer newsletters of Coconut Bliss to improve thecommunication level in the organisation. Whether the sales performance to be better or speed upthe highest point of the business growth relates to cooperate with the marketing as well as salesdepartment. They also prepare the presentation so the sales team members to supply the stock ofpromotional material to consumers. The marketing department organised the seminars, salesconference and to provide an event material e.g. display, ppt etc to promote the external eventsand its successful (Foxall, 2014). 2
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