Marketing Essentials

Marketing Essentials.

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Role of Marketing and interrelation with wider organisational context.................................1
P2. Illustrate about interrelationship between wider organisation context.............................2
D1 Analyze and evaluate elements of marketing function and in what manner they interrelate
to functional areas...................................................................................................................2
TASK 2............................................................................................................................................2
Differentiation of Marketing Mix elements to achieve organisational objectives.................2
M3 Different tactics applied by organizations to determine how objectives would be achieved
................................................................................................................................................4
Task 3...............................................................................................................................................4
P4. Produce and evaluate a marketing plan for specific organisation....................................4
D2. Marketing plan of Nat West bank new product through 7ps of marketing mix..............7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing is the description that define to producing, manufacturing , advertising and
promoting in different sources to create better awareness of product and services in competitive
market. The main motive of marketing is to scrutinise information and regarding with specific
product and it get to relate with customer in perspective (Al Khoury., Thrassou, and
Papasolomou , 2020). The function helps organisation to know and meet demands of consumers
with changing times which are supported by extensive and elaborated research by business
organisations. Thus through this function a business attracts more customers in targeted markets,
increase their awareness about products and services offered by company and then convince
them for buying these products. The task of marketing is consumer oriented and includes
different dimensions. On the basis of this report the organisation is considered is Nat West Bank
which is commonly known as Nat Westminster bank which commercial retail banking system as
it is situated in Scotland, United Kingdom. As per the topic and report is having objective to
making effective marketing plan which better specify facts and figure regarding with banking
areas. Along with, roles and responsibilities of marketing function as well as organisational
context (Chauhan,, Yadav and Choudhary., 2019). To differentiate and consider two banking
company and evaluate their difference by using 7ps of marketing mix. At last, marketing plan
along with evidence and new product and services prevails by the selected organisation
effectively
MAIN BODY
TASK 1
Role of Marketing and interrelation with wider organisational context
The process of marketing is conceptualised on the basis of product and services production
and advertising practises to market along with better create awareness to generate more
productivity. This is having maximum number of consumer through which market segmentation
and having target market to create presence for convince customer on the basis product and
services (Lebdaoui and Chetioui , 2020). The main focus of marketing creates better satisfaction
of customer which unlike to selling. In perspective of NatWest bank they usually provide retail
banking services like transaction monetary, collection of cash, opening people accounts etc.
According to this marketing unit of NatWest bank use to develop strong relationship for high
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level of satisfaction within better customer. There are different roles and responsibilities
regarding with Nat West bank perspective of marketing:
Analysing the customer needs: In marketing it is a most important function which every
company use to concerned about their customer and clients needs and wants. In stitution of
NatWest banking company they have also scrutinise certain information regarding their customer
needs in terms of banking related activities like opening accounts transition of cash provide them
financial platform to investment for better Returns. All these factors has to company in order to
take benefits for first mover that company can meet their demands and requirements of
customers effectively along with efficiency.
Carry function of customer satisfaction:;’It is been considered to be the one of main function
which is carried by marketing unit on which marketing and carries role of satisfying of customer
in terms of offering them quality products and services order to make customer satisfaction.
Introspective of NatWest banking company to make their customer satisfaction by providing
them that a banking service. This could identify various issues of customer so that they could be
resolved with efficiency and customer would get satisfied by the services which provided by net
West banking company effectively.
Generate profitable outcomes: As per the marketing unit is generally carried by a function of
selling their products in the customer in an innovation along with creativity way. On the basis of
marketing manager of NatWest company that should and sure about offering customer packages
and value of added product as well as services in which not beneficial only customer but also
benefit to increase better goodwill to corporate Market by increase amount of their
profits( (Malaquias and Silva., 2020). This is only helps company in order to sustain in various
Complex situation on which offering product as a service three ways in a creative manner. It is
difficult for banking sector to mobilize their profit at the time of recession inflation and facing
high crisis of economic downfall that generate more decreasing in profit. As if the gross
domestic product would specific company then every banking and other businesses would get
higher profit benefit.
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