Understanding Marketing and Business Strategies

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P 1 Key roles and responsibilities of marketing function relate to the wider organisational
context.........................................................................................................................................1
P 2 Main roles and obligations of marketing related to the wider organisational context ........4
TASK 2............................................................................................................................................7
P 3 How Coconut Bliss applies marketing mix in comparison of McDonald's .........................7
TASK 3............................................................................................................................................9
P 4 Basic marketing plan of Coconut Bliss.................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Marketing is an important tool in the modern business companies. This includes
understanding of market location, needs of customers, developing profitable relations, consumer
driving marketing strategy and provide quality among the users. The business ventures have
realised the significance of consumer relationships and they are attempting to receive an
innovative approach towards marketing schemes in business (Babin and Zikmund, 2015). The
awareness in context of marketing is very high in the existed marketing scenarios across the
whole world. The present report is based on the marketing essentials which is describing the
marketing strategies of a business enterprise named Coconut Bliss, which is located at Eugene,
Ore. It offers food to customers and are following B2C marketing structure. The number of
workers is very less which is around 11 and the turn over of this venture is approx 5,000,000 £
per year. The main reason behind the attainment of high revenues of such a small firm is due to
the consumer focused approach of the enterprise towards the market. The project is also
concentrating over the roles of marketing initially with roles of marketing functions and their
inter – relations with various other functionalities of organisation. In addition to this, it is also
comparing the ways of application of market mix in the firm for achieving the corporation – al
aims and objectives. Here, a marketing plan for Coconut Bliss is also developed and evaluated.
TASK 1
P 1 Key roles and responsibilities of marketing function relate to the wider organisational context
Marketing function can be simply defined as the roles of business ventures that aids in
identifying and sourcing the potentially successful goods for market and then assists in its
promotion as well. These functions are very common in organisations and includes market
research, planning regarding products, process of development, advertisement, sales, finance,
consumer service, etc. (Bean and Hussey, 2012)The marketing functions consist of different
responsibilities of the venture , and such functionalities are responsible for the growth as well as
expansion of firm. The roles and responsibilities of marketing functions of Coconut Bliss are
described below :
 Marketing information management : Before manufacturing any kind of goods or
services, it is important for the cited enterprise to do proper marketing information
management so that they can discover and find about the demands and requirements of
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customers. In addition to this, Coconut Bliss should also recognise the marketing strategy
of their competitors and examine the products and services offered by them to the
customers. After this, they get an idea of which type of goods they should design so that
they can earn competitive advantage.
 Product planning : After going through the surveys or market research, managers of
venture should focus on product planning. They should think about development some
innovative goods in order to grasp the attention of large number of consumers towards
their new production..
 Financing : Here the cited firm have to decide about the total costing or investments
they are going to done so that no conflict would created in future. For this, they can form
a special team who and permit them for making their budgets (Fan, Lau and Zhao,
2015). The members of team is having the responsibility of take of all the financial
activities going on. This includes purchasing of raw materials, various machineries for
the manufacturing of products, recruitment of workers, etc. How much money is going to
invest in raw materials, machines, packing, distributing, etc. all are decided effectively by
finance team members.
 Development process : After making plan about the goods and services, Coconut Bliss
should concentrate on the manufacturing or development process where by they are going
to design new products. They should create goods as per the demand of citizens. They
need to concentrate on making healthy and best quality food commodities. This will
make the huge demands of their products as every one want to eat healthy food items and
prefers to be fit.
 Advertisement : This is the next important function of venture after the creation of goods.
As they have designed some new food items, it is important for them to give this
information to the people living in their nation. For this, they have to do proper
promotional activities where by they need to advertise their newly made products and
services (Beck and Reichert, 2012). They can make effective advertisement by taking
help of social media such as Face book, You tube, What's app, etc. These are some
cheapest mode of doing promotion. In addition to this, they can do effective
advertisement by taking use of television, posters, news paper, announcements, quizzes,
etc.
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