Marketing Essentials

This document discusses the role and responsibilities of the marketing function in achieving business objectives. It explains how these responsibilities relate to the wider organizational context of Barclays. It also explores the 7Ps of marketing mix and how they can be used to achieve the overall business objectives of Barclays. The document concludes with a marketing plan for Barclays.

MARKETING ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Explaining the role and responsibilities of the marketing function..................................1
P2 Explaining how these will be relating to the wider organizational context......................4
M1 ..........................................................................................................................................5
M2 ..........................................................................................................................................6
D1 ..........................................................................................................................................6
TASK 2 ...........................................................................................................................................7
P3 Explanation of 7ps of marketing mix to achieve the overall business objective of Barclays.
................................................................................................................................................7
P4 marketing plan for Barclays..............................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Marketing is the critical technique for business organisations which involve agreement of
activity for achieving higher objectives and goals. The report will cover about Barclays which is
a public limited firm from the banking and financial industry. They offer products in
management of wealth, retail banking, banking related to investment and commercial sectors.
Further, the roles of marketing in the organisation and how it can be interlinks with other
functional units of a Barclays. It also covers the comparison in manner which various firms
applied marketing mix to marketing planing process for achieving business objectives. At the
end, the marketing plan for chosen firm to take important decision and gain competitive
advantages.
TASK 1
P1Discribing the responsibilities and roles of the functions of marketing:-
Functions of the marketing is the procedure in which the firm perform different tasks to
achieve its goals. All procedure in which the firm adopted plan for business to brings
effectiveness in firms. It can be described as the responsibilities of the organization firms which
assist to determine and origin possibly successful goods for the market and then assist in its
promotion as well. These tasks are ordinary in enterprises and include the proper investigation
market and products planning. Evolution of procedure, customer service, sales and finance etc.
the functions of the marketing concern different responsibility of the enterprise to brings growth
and development of the firm which is also responsibility of these functions. Marketing is the
procedure to move products and services from idea to end user. Hence, it includes four factors of
the marketing known as 4Ps of the marketing.
Marketing officers have different types of roles and responsibilities as follows :
 To maintain the image of brand :In advertising capacity, to keep up brand in the market
is the responsibility of marketing officer. Barclays has great brand esteem as a result of
its standard administrations which is necessary to keep up the estimations of the
organization. Showcasing picture of the organisation tells its situation in the market.
 To create new promotional plans and campaign: Marketing officer of Barlcys required
to dissect the environment so they would make new creative battle and special designs. In
the market client are dependably needed new advances and products. It is imperative for
the association to give new items generally customers get used to change another
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organization to discover better goods and services. For instance, the Marketing
professional of your goal break down the administrations of its rival who is national
express match the administrations and costs. In the limited time battle marketing officer
requires pulling customer by giving new firm or provide more fulfilment. Marketing
officer provides rides to dissect the administrations or give a few rebates on the first
rides. In this short period, organization pulls in more customers.
 Increase the optimization of search engine : for build up the customer's attractions,
search engine optimization is the best vital apparatus. Marketing professional of Barclays
organization improves web architecture for organization by which they draw in clients
and get first position on seek device. The manager needs imaginative personality to
comprehend the present market patterns to assist organization in upcoming development.
 Increasing trends of social media : most extreme benefits can be win by using
techniques of social media. The marketing manager of organisations needs to transfer all
important substance or administrations on social locales with the goal that client can
without much of a stretch get all data regarding new administrations or their voyaging
plan. Online social locales are extremely valuable to advance new administrations. For
instance: Marketing manager of Barclays will make new ad for their next arrangement
and transfer on Facebook, Instagram, twitter on the grounds that the vast majority of the
clients visit every single social site on everyday schedule and catch all the new
informations and data.
 investigation of market: Market condition is an aggressive in behaviour. It continues
changing on everyday schedule all old and new contenders presents new suggestions and
administrations. To achieve this, Marketing officer of firms requires inquiring about or
distinguish the interior and outside condition and expel traps of the company. marketing
research causes Barclays to make new vital arrangements and give better new
administrations to the clients. Advertising research demonstrate the leaving position of
the organization before the flow showcase. Promoting officer needs to distinguish the
organizations shortcomings through showcasing exploration and make new open doors
arrangements.
 Maintaining healthy relationship: In the present market situation, great correspondence
with the clients is critical to keep up long haul relationship. Client is the key
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accomplishment to accomplish benefit expansion. It is the obligation of advertising
officer to give quality item and administrations to achieve the association objectives.
Structure and operation of marketing department of Barclays:
Barclays intention with the firm are evident from the proposed changes to its firm
structure. The new structure consist five division as comparer to older it was six department.
Each and everything to take decision to main concentrations on retail banking operation is the
United Kingdom which reflect that Barclays will likely no longer pursue retail banking growth
and development in the other part of Europe.
The operating expensed of the firm is around £14.5 billion from and adjusted amount of
nearly£20 billion in the year 2017. The bank have dispatch grip hand ATM equipment of
universe which reflects that affiliation in order to focus on the different type of informations
correspondence advancement to impact the undertaking to work. In the operator business, the
digitalization is furthermore structure by the Barclays bank and it is the application for the new
customers for the using of unmistakable organizations that can be anything besides hard to
3
Illustration 1: Barclays Structure
Source: blogs-images.forbes.com/greatspeculations

worked. The accompanying phase of the relationship to use the electro-mechanical machines to
help the accounting strategy. For convincing a business through affiliation they carry the diverse
correspondence through development. This can be used as a piece of the Barclay bank to affect
consumers or agents with extra auto affiliation motel idiom of store equipment for the trade of
cash. To save cost and time of affiliations, they made a best thing for conclusive action. The
effective record office have been familiarized by the keep cash with administer customer and
better organizations. The bank have their own specific development to impact the reasonable
assignments in the affiliations too it to will realize better customer organizations. If the bankings
business isn't pay particular attention on the ICT than it isn't attainable to direct the assorted
undertaking of firm. They have different division in the UK which are performing various
activities in an organization or outside of the organization. Main branch of this division is
managed with code of conduct.
The marketing mix of the organisations in which their goods or services and officials are
included in banking of delivering solution which are effective. The place refer as the location in
which the Barclays serve their services a universe wide list of customer and enterprises which
are located in 50 nations. The price strategies of the firm for 48 million customer and its different
function demand an effective pricing po is acceptable to its customers and different institutions.
Promotion of various goods and services through commercial are instructive and is display via
television and its official websites for customer awareness.
P2 explaining relation in the context of wider organisational
Marketing as a business function which provide high growth and development and future
path objective of firms. But for Barclays the main function to services the customer by providing
effective financial goods and services. The marketing team of organisation assist communicate
advantages. Each and every day they work with group across the business to promote firm good
and services. It is the most important aspect for the firm which required to meet the customer
expectations. The advertisement and other promotional techniques can be utilised. The various
kinds of division of Barclays and their interlink with marketing department such as follows:
 Information Technology: It is the most important division of the firms which will help
to provide assistance in operational activities and secure firm server as well all the issues
related IT in the firm. The marketing division will assist to the IT division about the
customer reviews about the products and negative publicity of the firm by competitor on
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social media. This division will assist to know the customer requirement and then achieve
common objective of the firm.
 Finance and Accounting: This is the another department which required to bring an
effective management of finance and accounts of organisation. The budget allocation and
set the issues in marketing division will be assists finance and accounts division in
managing the cash flow enhancement the sales of Barclays ans therefore, they allocate
more budget for marketing purpose of the firm. As the finance department will give
proper report to the organisation funds required to the all the division to achieve firm
objectives with help of allocating effective budget for marketing.
 Production: This can be another aspect of the firm to bring the better process of
production which will help to marketing department by availability of goods and services
to the customer on time as per commitment of organisations. But in the Barclays financial
services are better in which they introduce first ATM for withdraw cash to easily
available cash to their customer.
 Human resource: This can be the important aspect fir the firm which help to manage
manpower and resource utilisation an optimum way. They recruit right abilities and skill
employee which can work for marketing division for various functions. Human resource
management department.
M1
The parts of showcasing officer is to achieve the promoting destinations and accomplish
benefit boost. It additionally serves to checking the promoting exercises which is fundamental
for the association. Showcasing officer is the individual who deal with deals and endeavour to
enhance the limited time exercises. It likewise keeps up the network of clients with the
organization.
Besides it improve the new openings and profitability in the association. A decent
showcasing officer dependably keep up its rivals designs and its own particular designs. To
distinguish new openings. It additionally builds up the new item and administrations in the wake
of breaking down the client needs and needs. Adding to that promoting officer keep up the
organization standard as far as items and administrations. Showcasing officer needs to keep up
great learning about promoting condition since advertising condition are dubious and it include
higher hazard as far as organization. Showcasing officer makes new systems and strategies for
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success which encourages organization to shield from unverifiable events. It is obligation for
officer to know about the requirements and place of competitors in the market. They generally
built their techniques based on showcasing condition. There are different components which
influence organization development, for example, evolving condition, systems of contenders,
changing in political elements, social changes(Büyüközkan, Mukul and Uztürk, 2016). These all
components influence advertising methodologies which is critical to break down while
showcasing officer make their arrangements.
Showcasing capacity is the procedure in which organization contribute high capital on limited
time exercises. Advertising officer needs to keep up the sites on the organization since now a
days client dependably visit the organization site on the off chance that they need to check any
data. Promoting officer is in charge of most extreme offers of the organization.
M2
Advertising interrelated with numerous other capacity of the association. Promoting chief
recognizes the future requests with the goal that generation director become more acquainted
with about the estimation of assets. On the opposite side promoting capacities help to recognize
the prerequisite of new gifted people groups in the organization. By and large these all capacities
are interrelated with each other to help organization development. Advertising officer distinguish
the necessity of capital in the limited time exercises so they fund division to orchestrate that
much measure of reserve. Promoting officer is the go between amongst clients and friends.
Promoting capacity is the key part to accomplish the target and makes new destinations.
D1
Showcasing capacity is the capacity in which the various divisions are interrelated. These
capacities are give negative or constructive outcomes based on circumstance. Like because of
lessening the business organization can not deal with their costs appropriately and neglects to
accomplish the target. So it is the obligation of promoting officer to keep up the offers of Your
goal organization with the goal that they accomplish most extreme deals. A few times great
techniques are give new accomplishment to the goal and rivals national express organization.
These capacities have either give outcome in positive or negative. It's all rely on the usage of
plans of promoting.
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TASK 2
P3 7Ps of marketing mix to reach the objectives .
The marketing mix of Barclays help to achieve the firm objective as well target of
customers and improvement of goods and services. Th 7P's of marketing mix can be people,
price, products, physical evidence and place. These all can be describe in detail below.
Basis Barclays HSBC
Product Barclays has different varieties of
goods and services delivering
banking solution. They trained
committed officials with one of best
possibilities regarding for been an
MNC firms, a partnership business
or a financial institution. It was the
first to unveil an ATM In the year
1967 and has acquired various banks
for recent operation of Barclays the
portfolio of products includes as
investment banking, retail banking
and investment management (Rind,
Subhpoto and Sheikh, 2017). As
compare to this, there is difference
between products and services in
which the products are tangible, they
are physical in nature such that they
can be touched and feel easily while
services are intangible and they can
only be feel and there is no physical
presence of the firm can be the
returnable in term of products is
easier while services is not
As compare to this, HSBC consider
several activities from different
segment that consider private banking,
wealth management and retail
management, etc. These kinds of
services offered in different areas of
the world. Products differentiation also
occurs to find different products that
sold in the countries.
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returnable. The brand is the
important for the each and every
organisations.However,The brand is
important for the Barclays because
reflect the personality, ethos and
spirit of the firm while visually
appealing to wide targeted
customers. The power of brands
derives from a critical mixture of
how it performs and what it stands
for. Therefore, the brand will help to
build trust among customers. The
products' life cycle will help to take
decision in the organisation in terms
of improvement of products. The
first stage of PLC is introduction
stages which refer as the time when
the goods and service of bank is
introduces for end user. In this stage
the sales is low as competition is not
yet entered in the targeted market.
The next stage is growth stage where
he clients become more attentive
towards products and services. In
this phase sales will be grow very
efficiently and the aim in this
efficiently growth stage is to
upcoming growth rate of the demand
for their goods and services by
earning attraction of customer and
enhancement the sales. The third
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stage of Products Life Cycle is
maturity stage in which the sales
continues to increase with slow
speed. At this stage firm earn the
highest profits. After, that last stage
is declining stage where the firm
sales will be decrease and market
become more saturated.
Price It can be define as the cost of
various goods and services. It plays
a significant role in customers
decision of purchasing a good and
services. Hence, more attention must
be paid to decide the price of
specific products and
services(Philip, 2014). Customer
will select for products which is
related feature but is important for
them to get in a relative price which
can be less than other one given
Barclays if their prices are so high.
However, if the cost is find out by
the is lower among other
organisations, clients might be
consist must be price the goods in a
manner which provides appropriate
position of the goods in the market.
For achieving the target of firms, the
price factor must be effective and
increase revenue generating or
On the other hand, HSBC also deals in
wide areas of the world which carries
successful operations. There are several
places such as South America, North
America, Africa, etc. they consider
huge number of customers to provide
them best services. HSBC generally
adopted high interest rate which create
impact on long run to satisfy customer
in primary concern. Hence, main aim of
the organisation is to attract customers
through provide differentiation pricing
strategy.
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profits.
Place It can be refer as the channel of
distribution utilised to get the
organisation goods and services
given to customers. Barclays to be
success, it is significant that the
goods and services offering are at
the correct place in the correct or
right time. For this, there is need of
proper distribution channel. On the
other hand, In time of choosing
channels of delivering, organisor
must be careful and should keep in
mind about target audience.
Promotion To attract more customers,
organizations used promotion.
Pupose of the promotion is to build
effective relationship with clients
aware for the services feature of
Barclays bank, it utilised and
advantages. organisation to position
their services and goods in the
correct manner to achieve the target
customers. By using appropriate
medium like TV or print media, an
organization can directly target a
group of people with a clear and
simple message. The personal
selling, public relations and sales
promotion is the effective techniques
Beside this, Promotion assists the There
are several ways through HSBC
promote themselves. For instance using
newspapers, radio, television, etc. With
the help of sponsorship for sporting
events, they offering good image
among the people.
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of promoting firms goods and
services.
Process It refers to employees and sales
people who associated with the firm.
It can be stakeholder who provide
assistance to the firm to achieve
various goals.
On the other hand, in HSBC consider
their work to deal with innovative
products and services to ascertained
several employees in the businessHSBC
is directly related with customer needs
and requirement. In this regard, they
make sure that customers in all over the
world attracted with well connection. In
this way, needs are also catered with
several people such as customers,
management, workers, etc.
Physical
evidence
It can be refer as everything the
customer see when interacting with
enterprises(Abedi and Abedinis,
2017). These can be for employees
as well customers by providing the
physical environment where firm
give the goods and services.
As contrasting, it contains more
evidence that regulate to focus on
appropriate strategy which would be
beneficial to HSBC to attract several
people. HSBC has its physical evidence
through various offices that spread in
all over the world. Website of the bank
also tool of physical evidence. In this
regard, business cards, paperwork,
brochure, etc. are major source of
physical evidence.
People The firm procedure is the most
effective techniques used for the
production or various goods and
services which are mostly. The
supplier and them to customers it is
easy for the firm to bring effective
As compare to this, all activities of
HSBC governed in international areas.
It has followed regulations and
principles in standard formats as other
bank which abide by the rules.
Customer's involvement also ensured
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system that simply functions of HSBC
carefully segregated that are based on
inter connection.
P4 marketing plan for Barclays.
Marketing planning is the important techniques to determine the organization objective in
effective way. Market Segment and Target Market selected by Barclays. Market segment means
it is a member of people who allocate common traits, and come together for purposes of market.
To create a target market for their services and goods, marketers used different type of market
segment.
Executive summary
In order to create marketing plan for Barclays, they want to attract rich individual
investors from urban areas of different countries. Therefore, they are looking to focus on goals
and objectives to accomplish desired results. In this regard, it can be stated that internal and
external environment analysis consider important role to focus on complete banking and
financial solution.
Mission and vision
Mission: Main mission of the organisation is to creating several opportunities which assists to
make and work together that helps to different customers, clients, colleagues and society.
Vision: Barclays has vision to build trust with colleagues and partners with whom they are work.
As a result, they seek out alternative to put shared interest with team.
Objectives
To increase the level of assurance among the targeted custome4rs.
To increase the sale of bank products by 20%.
To create maximum opportunities for expansion and development of employees working in
Barclays banks.
SWOT analysis
 Strength: Barclays has different kinds of business units such as wealth management,
retail banking, etc. that contributes towards growth. Furthermore, it is the first bank
which launch website and works with m
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 ore than 145,000 employees. Weakness: However, the chosen bank face recent UK economic crises that create
negative impact on results and outcomes. In this regard, it can be stated that controversies
also exists in respect to access fund. Opportunities: Growth and expansion opportunities assists to emerging marketing trends
that helps to grow results in business. Furthermore, venturing into online banking is huge
untapped areas for online banking system.
 Threats: Stringent economic policies create major threat for the enterprise. Furthermore,
highly competitive environment from other banks in market create major impact.
Environment analysis
PESTLE analysis Political factors: Political factors highly influence operations of banks in respect to deal
in national, local and regional level. It has been mentioned that Barclays have degree to
regulate by the government. It determines fraction of reserves in commercial bank which
keep with political influence. Economic factors: Barclays contributes its part in economic growth in term of GDP,
interest rates, etc. UK proves that they are leading on the basis of company's presence.
Bank diversification in geography can also develop to look in creative manner. Social factors: Rise in disposal market of its operational geography create major impact
on the results of Barclays. Therefore, in the banking sector it regulates with different
consideration of operational plan. Technological factors: On the basis of innovative tools and software, Barclays able to
deal with recent trends and outcomes exist in the UK. Legal factors: In UK, there is strict and increased regulatory demands so that it create
major impact on operations and functions of Barclays. Hence, they should follow all rules
and regulations that are followed by the geographical boundary.
 Environmental factors: With the help of waste management and environmental
screening of transaction, Barclays protect their environment and deal with effective
functioning. In the market, there are different kinds of environmental standards exists that
can be create impact on profitability of the organisation. Furthermore, some
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environmental factors create impact on firm such as weather, climate change, laws
regulations, waste management, etc.
Marketing budget
Expenditure Amount (£) Income Amount (£)
To material used
Opening stock 49,000.00
Add: Purchase 203,000.00
Total 252,000.00
Less CL 52,000.00
To salaries
To rent 99,000.00
Add: OS 9,000.00
To postage and telephone
To insurance 25,600.00
Less: Unexpired 6,400.00
19,200.00
Add: Unexpired 5,600
To other expenses
200,000.00
210,000.00
108,000.00
14,750.00
24,800.00
135,450.00
By Subscription
By interest on FD
660,000.00
33,000.00
693000 693000
STP plan
In order to segment, Barclays using merchant and personal banking system. Furthermore,
for target group they are focusing on large enterprise and rich individual investors from urban
areas. For positioning, the chosen business consider complete banking and financial solution that
assists to accomplish desired level of results at workplace.
Segmentation
The financial market is dependent on demographic and psycho graphics variable's such as the
age, income and occupation.
Targeting
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The company is having the differentiated targeting strategy in order to have proper caring needs
of individuals along with corporate customers and investors in respective manner.
Positioning
The company has many strategic partnerships along with subsidiaries in having proper
positioning itself as per the kind of products along with service offering to customers.
Pricing strategy
Premium pricing strategy has been adopted by Barclays that assists to target large
enterprise and rich individual investors from different areas. As a result, they can communicate
different aspects of business consideration.
Promotional strategy
On company website and online promotional tools Barclays consider their promotion to
make effective results in appropriate manner. In this regard, new product and services will be
distributed in market to develop more effective results.
Execution of plan
In respect to execute the plan, it can be stated that Barclays consider important
functioning to target large business and individual customers. With this consideration, different
competitors exists with whom they compete to focus on highly competitive environment and
share positive results in the market.
Monitoring and evaluation plan
Techniques MESUREMENT Time line
Key performance indicators. To have proper description of
intended results along with
understanding the alternative
measures.
Then proper composition of
indices to have proper
evaluation in needed to
achievement targets and
3 months
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thresholds.
Bench marking There should be individuation
of five phases through having
proper analysis,
interpenetration, action along
with final maturity. There
should be proper comparison
form the required benchmark
of products in better way.
2 months
Impact of the internal ans external environment on the marketing planning budget of the
organization. The company have the major influence of the political environment which will
somewhere make major impacts on different kinds of business units such as wealth management,
retail banking, etc. that contributes towards growth. On the other hand the level of economic
criss which they to make company more weaken in order to have proper valuation of products.
With the help of waste management and environmental screening of transaction, Barclays protect
their environment and deal with effective functioning the company will be able to have major
expansion in having the identification over opportunity in order to have assistant to emerging
marketing trends that helps to grow results in business.
CONCLUSION
From the report marketing essential can be easily concluded that the marketing function
concern different responsibility of the enterprises firms, growth and development of the firm is
also responsibility of these functions. Barclays require focusing on more effective and advance
of marketing team for promoting goods and services.
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