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Marketing Essentials in Business Organisations

   

Added on  2020-10-05

15 Pages4318 Words147 Views
Marketing Essentials
Marketing Essentials in Business Organisations_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibilities of marketing function...................................................................1P2 Relation of roles and responsibilities of marketing to wider organisational context.............3TASK 2 ...........................................................................................................................................4P3 Application of marketing mix to attain business objectives of firm......................................4TASK 3............................................................................................................................................7P4 Development and evaluation of basic marketing plan...........................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11.......................................................................................................................................................12
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INTRODUCTIONMarketing is identified as an activity that is performed by business organisations in orderto promote and sell their goods or services in market. It is the process by which products movefrom concept to consumer. For every business firm, marketing function is very essential as itassists in communicating value and benefits of goods and services to consumers as well as alsohelps in growth and sustainability of company (Baker and et. al., 2016). In the presentassignment, chosen organisation is Mc Donald's which is the world's largest fast food chain byits revenue. The company is headquartered in Chicago, Illinois and offers variety of products tocustomers. This report covers different roles & responsibilities of marketing function along withthe way in which it relates to wider organisational context. Apart from this, 7P's of marketing isapplied in planning process to attain business objectives as well as basic marketing plan isdeveloped and evaluated in this project. TASK 1P1 Roles and responsibilities of marketing functionMarketing function involves various roles & responsibilities which helps business firm ineffectively attain its goals and targets. It involves set of activities that are performed bymarketing team with the objective of promoting products and services of company in costefficient and better manner. In existing competitive market, taste and preferences of customersare changing very frequently so, it becomes essential for firm to identify them in order to servecustomers in more better way. It also helps company in offering such products that completelysatisfy needs of potential customers (Berkowitz, 2016). In Mc Donald's, roles and responsibilitiesof marketing function are defined as follows: Marketing Information System: The fundamental obligation of each organization isexamine current needs and needs of their intended interest group. Association can take theassistance of MIS which assembles all important data identified with customer's preferences orabhorrences. This empower the firm to settle on better choice related with assembling of item oradministrations (Functions of marketing, 2017). In the wake of gathering the data, it disperse it tothe organization which help in settling on methodical choice in regards to the item improvement,advancement, media and so forth. It mostly accentuate on gathering right choice anddemonstrating them at ideal time to opportune individuals. For example, Mc Donald's utilizes1
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