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Marketing Essentials: Concepts & Applications

   

Added on  2020-06-06

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Marketing essentials
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Table of ContentsINTRODUCTION..................................................................................................................1TASK 1...................................................................................................................................1P1. Key roles and responsibilities of marketing function.......................................................1M1. Roles of marketing in marketing environment...............................................................2P2. Roles and responsibilities of marketing in relation to wider organisational context.......2M2. Significance of interrelationship between marketing and other functional units oforganisation............................................................................................................................3D1. Key elements of marketing function and way they interrelate with other functional units.4TASK 2............................................................................................................................................5P3. Ways in which different organisations apply marketing mix to marketing planning processto achieve business objectives................................................................................................5M3 Different tactics used to achieve the objectives...............................................................6TASK 3............................................................................................................................................6P4 Preparation and evaluation of a marketing plan................................................................6D2 Application of 7 p's in formulation of marketing plan.....................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9.......................................................................................................................................................10
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INTRODUCTIONMarketing is a very strong factor for any organisation. It is very essential for determiningsuccess of any company. Marketing is a huge field and is required for building up a an image ofa product or services in the market (Berkowitz, 2016). Promotions of products are required inorder to make people aware of product in market. Customers play a major role in this becauseevery product and services are made for them only. it will be required that goods relations aremaintained with the customers as then only their loyalty will be gained that is required to ensurethe sustainability. For a company to be successful it is very essential to have better customerseller relationship. Since customers are everything . It is seen that making new customers isdifficult as compared to retention of old customers (Wiid and Diggines, 2010). Main function ofmarketing is to maintain organisation's reputation, dealing with bad press, product selling,making customers loyal. Marketing is required everywhere and it changes whole scenario of anorganisation. It's main vision is to be the best quick service restaurant experience.TASK 1P1. Key roles and responsibilities of marketing functionMarketing department has the major responsibility for growing revenue and increasingmarket share of organisation. It has many roles and responsibilities which are inter-connected toeach other which are defined as below:Strategy: It includes blue print of various ideas which will result in a satisfactory output ofcompany. McDonald's here has good marketing techniques of giving goodies along with food forkids (Campbell Martin, 2015). This makes kids to go to this restaurant along with their parents.This restaurant chain is popular due to taste of food that they provide and cost in which theseproducts are available to them.Research of market: It becomes very essential to do research of market in order to knowvarious trends going on and use it accordingly to make profits in business. Department carriesout its own research in order to know which food item is very popular in market and willgenerate revenues for company (William and E Jerome, 2012). According, to study it was found1
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