ESSENTIALS INTRODUCTION TO MARKETING FUNCTIONS
Added on 2021-01-01
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1P1) Understand responsibilities and key roles of the marketing function.................................1Current and future trends of marketing:......................................................................................1P2) Explain how roles and responsibilities of marketing are interrelated with widerorganization.................................................................................................................................4P3) Organization using 7Ps of marketing mix to the marking planning, business objectivesand process. ................................................................................................................................5P4) Prepare a marketing plan......................................................................................................8Marketing plan............................................................................................................................9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONMarketing can be explained as those activities which are carried out by an organization inorder to promote buying and selling of product or services. It involves selling, advertising anddelivering of products to the customers. The main motive of marketing is to recognize theproduct, brand and firm in the eyes of the customers. Marketing of product or services isimportant in the cut throat competitive world because it helps the firm to develop product andservices to meet the set goals as well to meet the emerging needs of the customers (Babin andZikmund, 2015). Taxify is serving it's services in 26 countries across Australia, Africa andEurope. Now, company is trying to enter into London transport market and is awaiting forlicence approved by government. Neck to neck competition with Uber will be there by servingcheap rate to customers. This report includes roles of marketing with current and future trends,how they are interrelated with other functional units. It focus on responsibilities and how theywill be changing in the future. 7Ps of marketing is studied and how are they helpful in achievingbusiness objectives. Additionally, a marketing plan has been framed with clear goals and focuson how it will be designed. P1) Understand responsibilities and key roles of the marketing function.Marketing function can be discussed as the responsibilities and roles of the businessassociates which help the organization to source and identify potential product and service in thecompetitive market and then helps in it's promotion as well. The functions of businesses areproduct plan, development process, sales, finance, marketing research, customer services etc. The marketing functions includes distinguished responsibilities of the organization andare responsible for the growth of the business in the global market (Baker and Magnini, 2016).Here, marketing functions consists of product development, strategy management, sales supportsystem, strategy management, distribution systems, human resource etc. These have variousroles and responsibilities to promote the product or services in the global market. Whereas, someof the key roles and responsibilities of marketing functions are finance, product development,market research, planning, selling, communication etc. There is a minute link between marketingfunctions with other organizational functions units in an firm.1
Current and future trends of marketing:The current trend of the marketing is that they are largely involving digital media in themarketing of the product or services in the global market. Digital marketing is currently used byevery company so that more and more potential customers can be targeted towards the servicesframed designed by the business associates. In today's era customers are more on digitalplatforms and are active user of this platforms. So to use this platforms to promote the serviceglobally can turned out to be profitability. But gradually current trend of marketing is frequentlychanging to pull customers for the service (Baker and Saren, 2016). Here, are certain future trends of marketing which are explained below: Maintaining transparency between customer and organization: In the coming trendsfirms need to maintain transparency between customers and the business associates so that trustand faith between them can be build. Which will help the organization to create loyal andtrustworthy customers so that profit can be maximized and further growth and expansion can bedone in the cut throat competitive world. In online platforms, selling of the product or servicesrequires transparency so that customers can have the trust to purchase the product or service. Involve mobile marketing strategy in the marketing: Customers want to controleverything in palm with there mobile phone so the companies are trying to attract customersthrow mobile marketing. Business associates should hire EE limited to develop blog for mobilemarketing so that huge market ratio can be captured. People do transaction through mobileweather is booking cabs, checking rating of different cabs, publicity about the taxi running of theroad, viewing profile, background about the different taxi companies etc. introducing servicesthrow mobile marketing is gradually entering the market to give neck to neck competition(Blythe and Martin, 201). Involve user generator to attract customers: To search and attract customers towardsthe service and convincing them that their service offered is the best is a big challenge in theglobal market. Taxifl need to use different marketing strategies like mobile marketing to gainprofit margins. Customers buying behaviour is also changing tremendously and they also adoptdifferent marketing tools like SEO, mobile marketing to search out their brand. To bindcustomers for longer time period organization should use EE limited should develop a blog touse mobile marketing. The key roles and responsibilities are discussed below:2
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