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Key roles and responsibilities of marketing function

   

Added on  2020-10-23

12 Pages3283 Words267 Views
Finance
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Marketing Essentials
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of marketing function............................................................1M1 Analysing the roles and responsibilities of marketing function ..........................................2P2 How roles and responsibilities relate to organisation in wider context.................................3M2 Relationship between the marketing and other units of organisation...................................4D1 analysing and evaluation of key elements and their interrelationship..................................5TASK 2............................................................................................................................................5P3 Comparing the ways in which organisations apply marketing mix to planning process.......5M3 Tactics used by the organisation in achieving the objectives...............................................7D2 Designing the strategic marketing plan with the application of 7 Ps...................................7CONCLUSION................................................................................................................................8REFRENCES...................................................................................................................................9
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INTRODUCTIONMarketing refers to the process of satisfying customers by producing goods and servicesand delivering them in an effective manner. Marketing essential is an integral part that deals withhow the company products can make place for itself in the market. The main aim of this activityis to increase the sales and profitability of business. The company which has been selected forthe purpose of studying this aspect is TESCO. It is situated in UK and was founded by JackCohen in the year 1919. TESCO is well known brand that deals in retailing business. Thefollowing report consist of detailed description about the roles and responsibilities of marketingfunction within the organisational context and how different organisations use marketing mix forthe achievement of goals and maximising the growth of enterprise (Arguello, 2013).TASK 1P1 Key roles and responsibilities of marketing functionTESCO has made niche for itself in the market due to it's effective marketing strategy.The company is known for using aggressive promotional techniques that is turning outsuccessfully in the attracting large number of customers. This has happened due to the organisedway of roles and responsibilities in marketing function. These are explain below in detail:Management process- It refers to the process of managing the activities andprogrammes related functioning of enterprise. TESCO appropriately applies this function in it'sworking by training employees. The role played by this function is to set goals and providing thedirection to organisation. Responsibilities of this function are Planning which is concern withthinking what could happen in future and how organisation can be prepared accordingly to dealwith unforeseen circumstances and Organising involves in defining the roles and responsibilitiesand establishing relationship between them. This leads to the proper arrangement oforganisational structure Directing and controlling lead and ensures optimum utilisation ofresources.Giving customers what they want- This function is about identifying the preferences ofcustomers and taking measures to increase their satisfaction level. Major role of this activity isacknowledging the changing demands and taking responsibility to fulfil them. TESCO deals withcustomer on daily basis that's why it keeps updating ways to satisfy them by incorporating newfeatures in the business. This aspect is a part of every business therefore it maintains effective1
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customer relationship which helps in proving constant feedbacks and suggestions to thecompany. Promotion- This function is associated with inducing the customers to buy products orservices offered by the company. It plays the role of attracting potential buyers towards thebusiness along with having the responsibility of increasing sales and maximising profits. It isimportant to communicate with customers before launching products in the market. There arevarious promotional techniques used by the business entity. TESCO is one such organisation thatinvolves in extensive advertising of it's offerings in various media outlets (Desai, 2013). Pricing- This is related to charging appropriate prices for the offerings produced and soldby the business. Major role of this function is to set price, it should be based on the value ofproduct and services so that cost occurred on producing it can be covered therefore it is difficultto determine them for the managers. Increasing the profits for the company is function's mainresponsibility. TESCO decreases the operational, purchase cost and then charges lower amountfor the purpose of attracting wide number of customers. Fulfil customer requirements profitability- It is concern to meeting the requirements ofcustomers and doing in such way that it increases the profitability. Role of this function is tomake sure that buyers needs are fulfilled by taking the responsibility of understanding the thingsthat they require. TESCO by wide range of products to it's customers and sometimes theemployees goes extra miles in helping them therefore the company is enjoying high profits andmarket value.Changing Role of marketing- due to the complexity of business managers indulges inupdating the marketing strategy this aspect is associated with determining new ways to gain theattention of buyers. Customer relationship management is new role which companies areinvolving themselves with. The responsibility of this function is to extend present customer base.TESCO has effectively developed it's base through continues relationship with customer byusing strategy named multi channel client management. M1 Analysing the roles and responsibilities of marketing function The roles and responsibilities of management function is important to determine as themajor source of achieving the organisational objectives lies in clearly defining them and usingfor the purpose of increasing the profits. Each and every function plays significant role inbusiness. Roles and responsibilities regarding pricing promotion distribution are the key2
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