Marketing Essentials PDF

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Added on 2020-11-23

Marketing Essentials PDF

Added on 2020-11-23

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MARKETINGESSENTIALS

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1. Roles and responsibilities of marketing function..................................................................1M1. Duties of marketing with respect to marketing environment..............................................3P2 Relation of roles and responsibilities with wider context of organisation.............................3M2 Significance of inter-relationship between marketing and other functional unit.................5D1 Critically evaluate the key element of marketing function ..................................................5TASK 2............................................................................................................................................6P3 Comparison of marketing mix applied by different companies.............................................6M3 Evaluate different tactics chosen by IKEA to achieve business objective...........................9TASK 3............................................................................................................................................9P4 Marketing plan for IKEA.......................................................................................................9M4 Produce detailed marketing plan for IKEA........................................................................12D2 Design marketing plan with the use of 7Ps.........................................................................12CONCLUSION .............................................................................................................................14REFERENCES..............................................................................................................................15.......................................................................................................................................................16

INTRODUCTION Marketing is identifying as an effective process of interesting potential clients andcustomers in business services and products. It is important and essential tool which is beneficialfor the company to attract large number of customers in a systematic manner (Al-Ekam and et.al., 2012). According to American Marketing association, marketing is referring as a best activityand process of developing delivering, communicating and serving that have value for partners,clients and customers. Marketing is significant functions which includes different componentssuch as advertisement, public relation, sales promotions etc. all these are valuable for the firm tointroduce their new services and products in marketplace. In each and every organisation,marketing assist in exchange of goods, it supports in raising the standard of living of thecommunity and many other. In this report, selected company is IKEA, it is a retail industrywhich deals is ready-to-assemble furniture, homeware and many other. There are differentelements which are covered in this projects such as role of marketing functions, interrelationbetween organisational departments and marketing. Along with them 7P's of marketing mix isalso determined in this project which is essential for them to innovate their services and productsto the clients. At last, marketing plan is also identifying as a part of this report. TASK 1P1. Roles and responsibilities of marketing functionMarketing functions is identifying as a role to recognise and source potentially successfulgoods and services for the marketplace and thus advertise them by distinguishing them fromsame products. There are different functions which are connected with the tool of marketingincluding sales support system, development of product, marketing research, human resourcemanagement, management of strategy, distribution system and so on (Baker and Magnini, 2016).These are play vital role in achieving long term growth and success of company internationally.In IKEA, there are various roles and responsibility of marketing functions which are explainedunder this: 1

Illustration 1: Marketing Functions (Source: Seven Marketing Functions, 2018)Product: It is necessary and beneficial part for each and every organisation because withthe help of these they can easily increase their sales. IKEA produce different products includingoutdoor furniture, eating, children's products, desks, bathroom stage, chairs, cooking, and manyother appliances. In this role of the marketing function is to provide entire detail about businessproducts and services to the customers. Selling: It is considering another important and beneficial element which play vital rolefor providing goods and services to the end user. It is essential for the company to maximise theirrevenues and turnover in limited time period, beside this functions of marketing play important2

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