Marketing Essentials: A Comprehensive Guide to Marketing Principles and Strategies

MARKETING ESSENTIALS
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Table of Contents
Introduction................................................................................................................................3
LO1 Explain the role of marketing and how it interrelates with other functional units of an
organisation................................................................................................................................3
P1 Explain the key roles and responsibilities of the marketing function...................................3
How roles and responsibilities of marketing relate to the wider organisational context [P2]. 12
LO2 Compare ways in which organisations use elements of the marketing mix (7Ps) to
achieve overall business objectives..........................................................................................15
P3 Compare the ways in which different organisations apply the marketing mix to the
marketing planning process to achieve business objectives....................................................15
LO3 Develop and evaluate a basic marketing plan..................................................................20
P4 Produce and evaluate a basic marketing plan for an organisation......................................20
References................................................................................................................................26
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Introduction
Since ancient times, marketing has been an essential element that cannot be
avoided or ignored. Marketing covers the understanding of the process,
comprehending the nature of clients, their demands, so that the marketing plan,
forms, deliver quality information and constructs lucrative dealings that drive the
potential clients towards the organizational products and services. Pike (2015) assert
that marketing implicates more than mere performance of group activities in defined
areas or departments of a company (p.122). It is essential that an objective focus is
enhanced in the delivery of value and benefits of goods, services, experience, or
ideas to the clients. Currently, a lot of firms are aware of the value of customer
relationships, hence they are working tirelessly on the development of better and
suitable business marketing approaches. Ideally, the knowledge of the essentials of
international marketing is too elevated within the prevalent market situation. In this
study, the marketing aspects of Coconut Bliss is a business establishment, which is
located in Eugene, Ore. Will be focal. Coconut is a food-based organization that has
a B2C market arrangement with few employees whose annual income is almost $
5muillion per annum. The objective of the high revenue is to position clients in the
company’s marketplace. Therefore, marketing occupies a major component of
Coconut Bliss’s budget.
LO1 Explain the role of marketing and how it interrelates with other functional
units of an organisation.
P1 Explain the key roles and responsibilities of the marketing function.
Marketing functions such have key roles and responsibilities in any organization that
can be very effective in developing and enhancing the business. Buying, market
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information, risk taking, financing, selling, transporting, storing and standardization &
grading are the universal functions of the marketing that company needs to maintain
properly for getting the best outcome. Marketing department plays a vital role to set
up the relationship between customers and organization. Coconut Bliss is an
organization whose marketing function has been done effectively and successfully.
The marketing department works in different ways to improve the condition of the
business. There are some responsibilities, which the marketing team follow to
achieve the goal of the marketing company.
Market Information
The marketing team of Coconut Bliss works to gather market information which is
necessary to improve the pricing, packaging system, media selection process of the
company. The marketing team gathers information from the society to improve the
products. The marketing department of the company takes some strategies to
improve the business condition of the company.
Buying
The marketing team is also responsible to provide proper information to the
customers so that customers are attracted by the products and they take decision to
buy the particular products. Actually, marketing team works to improve the quality of
the products. The marketing team of Coconut Bliss works hard to increase the
quality of its products. Therefore, it is the responsibility of marketing team to improve
the quality of products.
Risk Factor
On the other hand, the marketing team helps to solve the risk factors of a company.
Coconut Bliss faces various problems which are harmful for the company’s
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reputation. The marketing team takes responsibilities to overcome the risk factors
such as quality related issue of the products. Coconut Bliss faces the problems
related to the product quality. Then, the marketing team takes proper responsibilities
to solve the problem.
Financial Condition
On the other hand, marketing team helps to improve the financial condition of the
company. The financial condition of Coconut Bliss is reduced because of the
economic recesses. So, marketing team works to make better promotion of the
company.
Selling
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Selling can be considered as the most important factor that influences the profitability
of the company. An organization needs to focus on the requirements of the
customers for enhancing the business. Marketing concept and selling concept are
included in this marketing function. According to the researchers of the world, selling
has more importance comparing to other marketing functions because a company is
completely dependent on selling for enhancing their business. Hence, the Coconut
Bliss also gives more importance to their selling unit for enhancing their business.
Transporting
An indispensible function of the marketing is transportation. Carrying the raw
materials, product or any other important goods from production to consumption
place is done through the transportation. Buying, assembling, selling, storing etc are
the marketing functions that can be facilitated through transportation. Hence, it can
be considered as that the entire economy and development depends on a well-knit
system of the transportation.
Storing
Storing is another important management function that is used for storing raw
materials or storing product of the organization. Actually, it involves in holding and
preserving the goods of an organization.
Standardization
Standardization plays a crucial role in the marketing. Selling and buying process are
made easy and more effective through it. People prefer to buy a product by
measuring the grade of the product. Standardization of the products has the ability of
creating a huge difference in the market comparing to their rival companies that can
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