Marketing Essentials

Marketing Essentials

Contents
Introduction.................................................................................................................................................3
Activity 1- Roles and Responsibilities of marketing function.....................................................................3
Marketing mix.........................................................................................................................................5
Activity 2- Marketing mix of Toyota...........................................................................................................7
Conclusion...................................................................................................................................................9
References.................................................................................................................................................11

Introduction
The concept of marketing starts with the determination of consumer wants and ends with
satisfy those wants. To achieve the business objective the companies take help from various
departments such as HR, finance, production, and marketing. The marketing is the essential
concept as it helps the business in selling and promoting the product or service for accomplishing
competitiveness from the competitors. The marketing essential helps the business in increasing
sales and profit, planning and decision-making. The resources are optimum utilized which create
the goodwill of the organization. In this study the discussed topic are related to roles and
responsibilities of marketing function and marketing mix of the organization (Barnwell 2018).
The chosen organization is ALDI. It is a brand of two German families running a
supermarket chain. It was recognized in July 1946 by the founder of Karl and Theo Albrecht.
The market runs more than10, 000 stores in 20 countries having sales turnover of more than $50
billion. Later on the business was separated into two groups in 1960 as Aldi Nord its
headquartered is in Essen and Aldi Sud headquarter in Mulhemin. By 1962 the name ALDI was
having the abbreviation of Albrecht Diskont. The products of the business are grocery and
household essentials.
Activity 1- Roles and Responsibilities of marketing function.
The term Marketing defines to the process of producing the goods and services and
determining the demand of the consumer by fulfilling the needs of the customers. The traditional
concept was related to the profit maximization. In the modern concept it is related to the
customer satisfaction as the organization has become market oriented by focusing on marketing
activities and practices. The manager has various roles and responsibilities to perform the
marketing activities. The role of the marketing helps in developing marketing strategies by
identifying the demand of the customer wants and needs which is satisfied through exchange
process. The marketing is a customer-centric approach which helps the organization in survival
by increasing market share and customer retention. The marketers use various communication
tools such as advertising, sales, promotion and media for promoting the product which creates
the image and brand equity. The marketing creates product utility in the terms of place, time,

information, possession etc. The marketing plays vital role in founding of relationship between
the consumer and organization contributing to market. In the market it provides the confidence
for trying of new product. The role of the marketing is to identify the target market and
segments. It requires creating marketing plan for the product in the organization. Marketing is a
business function which develops the interrelationship with other business functions such as
finance, production, research and development. (Leposky and et. al., 2020).
Finance- The fiancé people are risk taker it is necessary for marketing to understand their
mindset. The finance department is focused on revenue, expenses and profit. Through the
financing brand image and loyalty is linked to the cash flow. Marketing is responsible for
helping the organization for acquiring and keeping profitable customers for more cash flow.
Production- It defines the perception of the consumer that are linked towards the products which
is available o them in good quantity in market in expensive rate. The operational capacity of the
organization should focus on the production rate.
Responsibilities
 Market research- This is the most important responsibility of the manger in the marketing.
The manger should be aware of the needs and wants of the customers for surviving in the
competitive market place which help the manager in changing the production function and
goods and services are produced according to consumer wants.
 Promotion and advertisement- For the marketing manger its responsibility is to keep the
knowledge of the promotional and advertisement techniques for promoting the product by
reducing the cost. The promotional and advertisement are the part of the marketing
activities which helps the company in competing with the competitors by attracting large
number of customers in the market (Lichtenthal 2020).
 Product development- It is a process of improving the production process. It is a strategy
used by business that seeks potential growth by introducing new product in existing market.
The new product is provided to consumer by doing modifications and improvements which
increase sales. The new product is launched by engaging in R&D activities for identifying
new views of consumer demand, market trends and to remain competitive through
innovation and creativity. High quality products are provided by lowering the prices.