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Marketing Essentials Contents

   

Added on  2021-02-19

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MARKETINGESSENTIALS

ContentsINTRODUCTION...........................................................................................................................1P1. Roles of marketing function ............................................................................................1P2 Interrelation of marketing with other departments............................................................2P3 Comparison of marketing mix with other organization....................................................3P4. Marketing plan ................................................................................................................6CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONMarketing plays an essential role in delivering goods and services as per the need andwants of customer in competitive marketplace. Marketing and its essentials are termed asnecessities in functioning business operation properly so that they can understand the actualneeds of customer and deliver goods accordingly with the help of technology and social mediawhich are trending now a day. In this report organization chosen is McDonald’s which is knowbest beverages at worldwide as it is one of the leading fast food chain and restaurants to itspotential customers. This report is going to analyses the current and future trend, roles andresponsibilities of a marketing manager. Moreover, evaluation the relationship of marketing mixwith the other function unit of different organization is given. Furthermore, emphasis has beenlaid on the developing marketing plan for product development and expansion of business.P1. Roles of marketing function Marketing can be defined as the activity which is aimed at creating awareness about theofferings of the company among the audience with a view to persuade them to make a purchase.In McDonald's, the roles as well as responsibilities of marketing function are described below:-Development of Marketing Campaign: This is identified as one of the most significantas well as relevant role of marketing function. This department takes a control over all kinds ofmarketing campaigns which are run by company with a view to make public aware about theproducts offered by entity. To foster effective marketing campaigning, this departmentundertakes measures so as to ensure its successful formulation and with that, the promotion ofexisting or new offerings of McDonald’s in market place. A number of marketing campaigns arelaunched by this organisation so as to attract a large quantum of population.Recognition of needs and demands of consumers: Human resource is widely regardedas the most important asset of an entity without which the activities of an organisation cannot beexecuted. They are collectively responsible so as to accomplish the goals and objectives ofentity. The marketing function takes into consideration the needs and demands of customers aswell as human resources in order to successfully execute the marketing activities of McDonald’s.Effective CRM: Themarketing function of an organisation is responsible for developingstrategic plans to aim at ensuring the growth and success of company in the market place.1

Further it provides aid to entity in developing a loyal base of customers to increase itsprofitability in market and enhance the overall share in global market area.P2Interrelation of marketing with other departmentsMarketing is the most important functional department of any corporation and focusesupon promotion as well as sale of offerings of company. This function shares effectiverelationship with other departments of company to ensure coordination and cooperation withinthe organisational premises and to ensure the successful formulation of all the activities and theprocesses in the desired manner. The interrelationship of marketing with other departments isgiven as follows:-Marketing with Human resource: The major task of the HR dept. is to hire mostappropriate and adequate workforce to perform various marketing and sales activities together.In McDonald's, marketing and human resource dept. works interrelated in a way that marketingprovides information regarding the qualifications required for hiring the employees formarketing unit of company. The HR department then hires the workforce in accordance with it. Marketing with Research & Development: It is the major role of marketing Dept. tocreate idea generation for the development of products and services. After the creation of an idea, next comes screening of an idea to evaluate and finalized the production of the actual productsIn context with McDonald's, R&D Dept., after the generation of idea, direct connects tomarketing to do the brief analysis or market research to scope to know its future scope. Aftersuch, it is the duty of research department to do appropriate research on various aspects such as:what sort of the customer we need to targets, what are their taste and preference s and what theyare looking for. Marketing with finance: In context with McDonald's, it is the duty of the finance Dept.to raise funds and finance to the marketing department to perform various activities such as salespromotion, product testing, campaigns etc. The marketing and finance role is necessary, in such away that finance provides the budget to marketing department for carry out the promotional,sales and distribution activities. It is the main and prime duty of marketing department is toreport the sales made during the particular period of time. The outcome is that collaborationbetween two will lead to achieve of goals/targets as well as increase in the revenue and sales forthe McDonald's. 2

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