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Report on Role and Responsibilities of Marketing Function

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Added on  2020-06-05

Report on Role and Responsibilities of Marketing Function

   Added on 2020-06-05

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Marketing Essentials
Report on Role and Responsibilities of Marketing Function_1
Table of ContentsINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Key roles and responsibilities of marketing functions ..........................................................1P2 Roles and responsibilities of marketing related to TK-Max..................................................3LO2.............................................................................................................................................6P3 Compare the ways in which the marketing mix techniques are been used in development ofmarketing plan to achieve it business objectives........................................................................6LO3.............................................................................................................................................8P4 Produce and evaluate basic marketing plan for TK Maxx ....................................................8CONCLUSION:.............................................................................................................................11REFERENCES:.............................................................................................................................13
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INTRODUCTIONThe marketing department of an organisation performs various functions. They performroles and responsibilities at wider context. The functions of marketing help in fulfilling goals andobjectives of company (Okumus and Cetin, 2018). It promotes and advertise products in themarket along with developing marketing strategies. It is very important for company to integrateall activities so that effective marketing can be done. A marketing is often used by company formarketing. It consists of 7 P's. This report gives brief discussion on role and responsibilities ofmarketing function and how it related to wider organisational context. Also, what is the role ofmarketing mix in planning of strategy. At last a marketing plan is developed for growth oforganisation. For this report organisation taken is TK MAXX. It is the subsidiary of TJXcompanies and belongs to retail sector and operates majorly in Europe. LO 1P1 Key roles and responsibilities of marketing functions Marketing is the method of managing those practices which are responsible to identifyand satisfy the customer requirements (Babiuk, Braun and Campbell, 2015). The main role ofmarketing department is to promote mission and vision of company in the market. It is done sothat goals and objectives can be achieved. For this effective marketing strategies are developed.It helps in promoting and advertising of products and services. Its objective is to search outprospectus customer who are willing to buy company products. The key roles andresponsibilities of marketing function is described below :- Managing and defining brand- It is the foremost responsibility of marketing function. Itdefined several things such as who are you, what product are been sold, etc. with this it becomeseasy to promote products (Akbar, Wadood and Yusoff, 2017). If TK MAXX effectively definebrand then it can attract a large number of people. This is done by selling, distributing productsand creating brand awareness in the market.Listen to customer needs – It is very essential to listen to customer needs. It helps in reachingout prospective customers and engaging them with company. Also, in order to remain survive inmarket for long term it is important that products are produced according to customer needs. Byinteracting with customers needs are identified. Thus, sales force is having responsibility of1
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performing this role. If products are not produced accordingly it will be waste of resources andtime. Monitoring position in market - It is the role of marketing unit to identify current position ofcompany in the market (Nguyen, Simkin and Canhoto, 2015) It gives a brief overview of howtheir strategies are implemented and what effect it has on customer and market. Moreover, withthis it becomes easy to identify weak areas so that it can be improved. It will be worthless todistribute products in market without developing any strategy. It helps in identifying marketshare of competitor, brand value, types of markets, etc. Transit brand value – The brand value of company should be delivered to customers so that ithelps in attracting a large of people. This is done by displaying attractive images, writingeffective content, etc. that can be communicated to customers. With rise in brand value marketshare will be increased (Ottman, 2017). People will be easily able to recognise brand. It is alsoknown as brand awareness.Market segmentation- A product is generally made for a specific market. So doingsegmentation of market helps in identifying customer needs in better way. It shows how productcan be produced to fulfil need of customers. For example- need of children and youngster canvary in market. With this it is easy to provide various kinds of products to different people indifferent market. Innovation- It is very important for company to regularly make innovation in products so that itcan sustain for long term. Also, it helps in retaining customers and increasing market share(Wilson, 2014). The taste and preference of people changes according to their needs. Therefore,innovation in product is necessary (Okumus and Cetin, 2018). It does not include product butalso changes in promotional techniques, improving product quality, providing better services,etc. Communication – Communicating product features to customer very crucial. It is because ifcommunication is not effective goals and objectives will not be achieved. Besides this, marketingdepartment must communicate with management. This is to provide report in how wellmarketing strategies are going on what results it has given. Moreover, any change in product hasto be communicated to production unit so that changes can be implemented. For example- if2
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