Cross-Functional Marketing Strategies

This assignment delves into various aspects of marketing management, including market research, new product development, marketing planning, buying and selling strategies, and more. It emphasizes the crucial role of cooperation among different functional units within an organization to maintain a strong competitive advantage in today's dynamic business environment.

Marketing essentials
(Project - 1)

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Roles and responsibilities of marketing functions ................................................................1
P2 Interrelationship of marketing with functional units ............................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing is the process of transferring goods and services from producer to their end
users. It is beneficial for a business organization to increase as well as manage the standard of
living of community by providing them qualitative products (Akroush, 2011). McDonald is the
chosen organization in this present assignment, it is one of the famous fast food chain over the
world. Starbucks, Burger King, Costa coffee etc. are the main competitors of the McDonald's.
Apart from this, the report will described different roles and responsibilities of marketing
functions. Furthermore, there will be a discussion upon interrelationship of marketing with other
functional units.
TASK 1
P1 Roles and responsibilities of marketing functions
Marketing is a management activity which includes determining, evaluating and
satisfying customers need and wants in the best possible manner. In other words., “it is not about
selling, marketing is all about understanding customers. In order to recognise customers' desires,
marketing managers of McDonald's prefer to conduct a marketing research; it helps them to
formulate and execute various strategies and policies. Furthermore, marketing also fosters a
healthy competition between various organizations; it results customers will get new and
innovative products (Brettel and et. al., 2011). In order to reach company's goals, managers are
used different marketing functions, such are defined as under: -
Marketing information system – MIS is one of the important marketing function, it is
designed in order to support decision making process of the company. In this, data and
information is formally collected, stored, examined and then distribute to managers. Along with
this, marketing information system assess market information from internal and external sources.
Furthermore, it concerns with set structure of methods and procedure for regular, planned
collection monitor and presentation of information for use in making decision.
Marketing planning – Marketing planning is the most important function of marketing, it
helps managers by providing them guidance and direction regrading any business activity.
Marketing plan involves various strategies and policies which are assistive in completion of
working practices and gaining high competitive advantage.
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(Source: The 7 Functions of Marketing, 2017)
Product designing and development – It is essential for every business organization to
develop and innovative products and services in order remain its share in target market. If
McDonald's has new products rather than its competitors then it can easily achieve high
competitive advantage. The core concept of new product designing is also concerns to improve
the existing features and make them able to meet customers need and wants. Along with this, the
impact of increasing product variety as well as shortening product life cycle is having a
multiplicative effect on the need of product development (Dibb and Simkin, 2013). To remain
competitive, business organizations have to generate unique goods by reducing manufacturing
costs.
Standardising and grading – All these are essential key aspects of marketing. In which
standardisation consists the nature and feature of a product with reference to its size, shape,
quantity colour and other requisites. Standardisation includes an identity in terms of quality. It is
essential for manufacturing companies to maintain their standard not only in finished products
but also processes and material used should be standardised. Apart from this, grading includes
division of products by encompassing some predetermining standards and quality measures. In
other words, grading means classification of products on the basis of classes, it means make units
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Illustration 1: Marketing functions

of dominates which have similar characteristics. There are two types of grading, i.e. fixed and
variable. In which fixed grading concerns with fixed standard of quality whereas variable
grading is done with varying standards of products.
Branding – Branding is a process of modern mass selling. There are several standardise
products that are marked with a specific brand name. It helps customers to determine their source
of manufacturing and make an individuality of products. McDonald's a famous brand which is
denote by “M” on its outlets. Thus, the prime objective of branding is to launch product
differentiation; manufactures have to protect their brand name through registrations and manage
its by providing guarantee of quality products (Civi and Persinger, 2011). Along with this,
business organizations can adopt three bases for effective branding, such as- symbols and marks,
special names and manufacturer's name. Beside this, attractive branding makes a products
compatible rather than its competitors and helps company to obtain high competitive edge at
marketplace.
Promotion – Another function of marketing is promotion- it consists the voice of
company which sends its messages to target and potential customers. In this sense, business
organizations are used various media platforms so as to promote itself and increases brand
awareness among people as attract towards it. These are the main benefits of promotional
activities, such as- raise brand awareness, increase customer traffic, build sales and profitability
and render accurate information to customers.
Transportation – Transportation is required in order to perform entire tasks of dispersal
and assembling of goods. It imparts place utility of products as they can move from one place to
another, i.e. from production centre to its consumption place. McDonald's uses different types of
transportation, such as- land, air, water etc. transports. Along with this, comparative efficiency of
different types of transport can be judged with its overall costs and service quality (Gordon,
2012).
Financing – Every business organization require proper fixed as well as working capital
in order to effectively perform its working activities. However, fixed capital required lower than
working capital, it is needed to carrying out stocks and meet operating expenses, i.e.
transporting, wages, advertising etc. Companies can generate funds from different sources, such
as- bank credit, owners' investment, venture capitalists, trade credit etc.
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Risk taking – In this competitive era, there are several risks can be assumed from seller
as well as someone else. It is essential for managers to determine these risks and make a proper
strategy for the same. In addition, good can be destroy by fire, train, car, shipwreck, flood, storm
and different other causes (Hair and et. al., 2012). Business risks can be occurred due to fallen in
prices, changing needs and demands of buyers and bad debits which can affect working activities
and annual turnover of the company is direct manner. So that, risks and uncertainties must be
shifted to investment companies; they would provide payment consideration known as premium.
Buying and selling – Buying function of marketing is used by manufacturing firms in
order to purchase raw materials and other items. In addition, trading companies purchase goods
so as to sell them to others. Thus, “buying activity is interlinked with selling activities”. Buying
include taking effective decisions regrading quality, quantity and variety which is going to be
purchased, sources of supply as well as terms and conditions of purchasing. Apart from this,
selling refers with a process through which products and services are provided to its end users
who need them. Business entities perform this function in order to distribute their products and
earn high profitability. In today's scenario, selling concerns to inform customers towards the
availability of products by adoption of various advertising and promotion channels.
Pricing – Price of product control upon overall marketing activities because sales of a
product is basically depend upon pricing policy of the company. Top management and higher
authorities of the company are liable to set prices in such manner that it would bring highest
volume of sales as profitability for the company by enough profit margin (Hansson, Wrangmo
and Solberg Søilen, 2013). Furthermore, it should be analysed considered that prices are enough
able to capture manufacturing cost but at the same time it also attract customers. Pricing policy
of the company is extent to market competition and varying profit margins.
All these are the major marketing function which helps marketing activities of a company
more effective and innovative. If McDonald's fulfil all these functions in the best possible
manner then it can easily gain high competitive advantage in a certain time period.
P2 Interrelationship of marketing with functional units
In this over dynamic environmental, business organizations have to work together for
effective completion for working activities and operations. It also aids in building a healthy and
positive working environment at workplace; if employees work together then they motivate to
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work effectively to achieve the goals and objectives of their teams. Along with this, marketing
department of McDonald's have to work with other functional units, such as- finance, research
and development, production and operation, customer service etc. This interrelation accessible in
attaining high competitive edge in a certain time period. Below mentioned the interrelations of
these department is stated as under: -
Finance department – This department of the company is liable to managing all finances
and credits within an organization. Finance team deals with all money coming into and going out
from company. It ensure that adequate funds are available in order to acquire resources that are
needed to help the organization for accomplishment of its goals and objectives (Jain, 2013). In
McDonald's, finance manager also put a control on costs through monitoring budget and
accounting statement. However, there is required huge capital so as to perform all marketing
activities, i.e. advertising, promotion, personal selling etc. it helps company to reach to
maximum number of customers. For this relation, finance department prepare a budget which
involves the actual amount that will be spend on future marketing activities.
Human resource department – HR department of the company is liable to manage
workforce so as to get best performance outcomes in the best possible manner. Human resource
manager recruit, trained and then motivate employees as they can perform effectively and meet
organizational goals and objectives. Well skilled and qualified employees are enough capable to
influence customers for purchasing its goods and services. In terms of marketing, a company
needs to have profitable customers, for this purpose it recruits top talent in order to attain long
term growth and success. If employees have good communication skills then they can easily
know needs and wants of customers and try to provide them maximum level of satisfaction.
Research and development department – This functional units plays an integral role in
product life cycle process. When a new product is developed, research and development
department makes a proper study on the same; it includes identifying product's specification,
manufacturing costs and time line. In addition, research also conducts an evaluation which is
based upon need of this product and it is useful for customers or not (Khan, 2014). Therefore,
marketing department collects such information from research department and tries to deliver
those products and services which are capable to give high satisfaction to target and potential
customers of the company. R&D department also makes potential changes in existing products
so as to make them innovative.
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Production and operation department – The major role of production and operation
department of organization is to ensure quality of products. Operation manager ensure that
products have to meet those standards of the company which helps it in achieving goals and
objectives. It may also collaborate with marketing department for understanding needs and
demands of people. If buyers will get well qualitative and innovative products then it would
easily attract towards firm; it is accessible in gaining high market growth and share,.
Customer service department – This functional unit is liable to create strong public
relations as well as positive organizational cultural. Customer service department cementing and
implementing the relationships of the firm with public in order to influence them to purchase
products and services of the company (Ko, Hwang and Kim, 2013). Business organizations those
have strong market reputation can exhibit helpfulness in assisting buyers. Apart from this,
customer service unit also focus on customers retention by regular communication with them. It
builds an effective image of the company that leaves a long lasting impact on buying behaviour
of people. It increases sales and profitability of the firm in a certain time period.
CONCLUSION
From the above mentioned report, it has been identified that marketing is a significant
function for every business entity. It helps company to promote its products and services in target
market so that it can easily achieve its goals and objectives. Effective marketing aids in
improving sales revenue and profitability of McDonald's. On the other hand, there are different
types of marketing functions, such as- buying and selling, new product development, marketing
research, marketing planning etc. It is fundamental for marketing department to work with other
functional units so as to sustain high competitive edge.
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REFERENCES
Books and Journal
Akroush, M. N., 2011. The 7Ps Classification of the Services Marketing Mix Revisited: An
Empirical Assessment of their Generalisability, Applicability and Effect on
Performance Evidence from Jordan’s Services Organisations. Jordan Journal of
Business Administration. 7(1). pp.116-147.
Brettel, M. and et. al., 2011. Cross‐functional integration of R&D, marketing, and
manufacturing in radical and incremental product innovations and its effects on project
effectiveness and efficiency. Journal of Product Innovation Management. 28(2).
pp.251-269.
Civi, E. and Persinger, E. S., 2011. Marketing plan competition for experiential learning.
American Journal of Business Education (Online). 4(12). p.51.
Dibb, S. and Simkin, L., 2013. Marketing essentials. Cengage Learning.
Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix. Australasian Marketing
Journal (AMJ). 20(2). pp.122-126.
Hair, J. F. and et. al., 2012. An assessment of the use of partial least squares structural equation
modeling in marketing research. Journal of the academy of marketing science. 40(3).
pp.414-433.
Hansson, L., Wrangmo, A. and Solberg Søilen, K., 2013. Optimal ways for companies to use
Facebook as a marketing channel. Journal of Information, Communication and Ethics
in Society. 11(2). pp.112-126.
Jain, M. K., 2013. An analysis of marketing mix: 7Ps or more. Asian Journal of
Multidisciplinary Studies. 1(4).
Khan, M. T., 2014. The concept of'marketing mix'and its elements (a conceptual review paper).
International journal of information, business and management. 6(2). p.95.
Ko, E., Hwang, Y. K. and Kim, E. Y., 2013. Green marketing'functions in building corporate
image in the retail setting. Journal of Business Research. 66(10). pp.1709-1715.
Online
The 7 Functions of Marketing, 2017. [Online]. Available through:
<http://slideplayer.com/slide/5874508/>.
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