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Marketing Essentials Introduction

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Added on  2020-10-22

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MARKETING ESSENTIALS INTRODUCTION 1 TASK 11 P1: Key roles and responsibilities of marketing function in H&M 1 P2: Interrelation of the marketing department with other departments of the organisation 2 TASK 24 P3: Compare the ways in which different organisations apply the marketing mix to achieve business objectives4 TASK 37 P4: Develop and evaluate a basic marketing plan 7 CONCLUSION 10 REFERENCES 11 INTRODUCTION Marketing is the process of creating, organising and promoting of products and services in

Marketing Essentials Introduction

   Added on 2020-10-22

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MARKETING ESSENTIALS
Marketing Essentials Introduction_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1: Key roles and responsibilities of marketing function in H&M........................................1P2: Interrelation of the marketing department with other departments of the organisation...2TASK 2............................................................................................................................................4P3: Compare the ways in which different organisations apply the marketing mix to achievebusiness objectives.................................................................................................................4TASK 3............................................................................................................................................7P4: Develop and evaluate a basic marketing plan..................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONMarketing is the process of creating, organising and promoting of products and servicesin an organisation for satisfying the needs and requirements of consumers in order to gain moreprofitability and revenue. It is essential for any firm to have their unique marketing strategies andpolicies for enhancing their sales and growth in the market. The taken organisation in this reportis H&M which is a large retail clothing company in Europe. This report is consist of two parts,1st part is presentation on key roles and responsibilities of the marketing along withinterrelationships between marketing and other departments in an organisation. 2nd part willcover the comparison of 7p's of marketing mix of two companies i.e. H&M and Zara foraccomplishing the desired organisational and worker's goals. A basic marketing plan for theH&M is being developed for the organisation for gaining more sales and growth in the givenmarket.TASK 1P1: Key roles and responsibilities of marketing function in H&MMarketing department plays a crucial role in the development of an organisation. Withouta proper marketing department, sales and growth of the company can be decreased. So, it is theprime responsibility of an organisation to properly use their marketing department for enhancingthe sales of a product. Marketing function helps the firms to identify their potential products andthen promote these products by differentiating them from regular products. The main role ofmarketing department of is to collect the statistics regarding the changes in customer's behaviourand trends of market and implementing required policies and strategies for the success of theproducts and the company. Marketing function includes doing market research, developing amarketing plan, development of promotion strategies, distribution, customer relations etc.Various roles and responsibilities of marketing department are given below:Pricing: Marketing department is responsible for setting the prices of a product. Theprice is set by combining the cost of production, transportation, promotion etc. The prices set bythe marketing manager of H&M are affordable for the customers and quality of the products arenot compromised which will help in retaining the old customers and attracting new potentialcustomers.1
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Product management: It involves designing, development, maintenance of the products.It is also useful for improving the quality of products provided by the firm. H&M managers aredoing their best for improving the quality of their products by taking feedbacks and suggestionsfrom the customers and improve the areas in which change is required.Distribution: It is the major responsibility of marketing department to determine the bestchannel of distribution and supply chain for delivering the products on time and unharmed.Marketing managers of H&M are analysing the various distribution channels for selecting thebest option available in order to provide the products to the customers on the required time.Financing: Marketing department decides the budget required for marketing andpromotion strategies to perform their operations carefully in a predetermined time. Managers ofH&M are providing financial assistance to their end users for buying their products and services.This will help in increasing the sales of products and hence improve the productivity of thecompany.Promotion: Marketing department communicates with the end users in order to achievethe desired growth and sales. This department influences the mind of customer to purchase theirproducts according to the demand through advertising, publicity, public relations etc. for drivingthe growth in the sales of the product.P2: Interrelation of the marketing department with other departments of the organisationMarketing department alone cannot work efficiently and effectively without the help ofother departments. It needs help from various departments such as HR, production, logistics,sales and finance department in order to enhance the sales and growth of the products. With thecooperation of these departments, marketing department can effectively perform their operationfor promotion and advertisements of the various products. Interrelation of some of thedepartments with marketing department are given below:HR department with Marketing department: Human resource department is responsiblefor recruiting the potential and skilled candidates to the company. So, it is necessary for HRdepartment to select potential and knowledgeable candidates for marketing department in orderto achieve the targets and goals of marketing department. With skilled and knowledgeablecandidates, marketing department can perform their activities and operations effectively withoutany barriers for increasing the sales.2
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