Marketing Essentials - Assignment
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Added on 2020-06-03
Marketing Essentials - Assignment
Added on 2020-06-03
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Marketing Essentials
Table of ContentsINTRODUCTION ..........................................................................................................................1Exercise 1.........................................................................................................................................1P1 roles and authority of commerce activity:- ......................................................................1M1 role and responsibilities of commercialisation in the base of situation which affects thestatus of marketing :-..............................................................................................................2M2 significance of interrelationship between marketing and other functions.......................2D1 Fundamentals of the elements of marketing & there interrelation with other functionalunits:-......................................................................................................................................4Exercise 2.......................................................................................................................................5P3 There are some tools achieving business which process is based on the marketing mix toprocedure of planning the marketing......................................................................................5M3 Tactics to achieve the business objective.........................................................................7TASK 3 ..........................................................................................................................................7CONCLUSION .............................................................................................................................13REFERENCES..............................................................................................................................13
INTRODUCTION The study and management of exchange in relationship of the systematic activities whichis based on the procedures & the set of institutions which is required for creating,communicating, expressions of offers & delivering which is valuable for the customers, societyand the high level of buyers & applicants number is known as marketing (Babin, B.J. andZikmund, W.G., 2015). Marketing play important part in the success of any organization.Marketing is a small word which has its wing open up wide it includes many activities such aspublic relation, advertising, sales and promotion. The report discusses the roles marketing play incontext of Wilkinson Sword that is known for there antique swords, guns garden shears etc. Italso famous for the personal care product. The report give detail information the role marketingmix play in order to gain competitive advantages. TASK1P1 Importance of commerce activity:- The team commerce deals which is based on the concepts to satisfy there customer.Different strategies are made on the basis and analysis of market to realize the changing needsand demands of customer. In simple words we can say that firms to gain an edge over thererivals try to make there customer satisfy by understanding there needs ad demand which not onlyincrease there customer base but also there sales. Further more company uses different methodsso that they can use every opportunity that pass them. This method also help them to identifydifferent threats and weakness which give entity a chance to improve not only there product butalso services. Manager of Wilkinson Sword to have effective and efficient function focus onpractical application of the business operations. In reference to this, following are certain rolesand responsibilities : Market research: In order to get better understanding of the need of customer marketresearch are done. The main aim of such research is to identify potential opportunities availablein market and also encourage organisation to produce better product and services. (Badrinath,S.G., 2016). Developing marketing strategy: Marketing manager of Wilkinson Sword, in order topromote there commodities & services come up with different marketing strategies. The market1
which are marked has an objective of raise in volume of sales. Its manager responsibility to makea margin of competitiveness to there rivals.Management of customer affair: Its essential for organisation to have best management when itcome to customer. Wilkinson Sword has started championing customer relationship managementwhich help them to create customer satisfaction on the basis of information collected on therecustomer data base. M1 Importannce of commercialisation in the base of situation which affects the status ofmarketing :- Wilkinson Sword marketing department works for the development and growth of firm.It comes up with different way through which the revenue and market share of company can beincreased which automatically enhance there profitability. The role of manager are versifiedthey have different role in publication, events etc. In the external environment, they havefollowing roles and responsibilities :Development of product : This department is responsible to make all important decisionregarding the product of organisation. launching of new product, any innovation, modificationof product etc. Wilkinson sword analyse the market and record of there sales to identify thechanges needed to made so that profitability of organisation could be increased (Brassington andPettitt 2013). Employees provide the information about the customers needs and preferences forthe development.Communication : This department is responsible for the all communication throughsuppliers, better communication help organisation to get best and right amount of raw material toproduce different and variety of products which can satisfy there customer. Every action or steptaken by company are done while keeping the budget in mind, for e.g an simple promotionalevent first need confirmation through finance department then only marketing department startmaking any strategies.M2 Interrelationship between marketing and other functionsOperations management or production : The commerce administration will agree with thetime limit which will may stretch the capabilities of the production department. The main ofWilkinson sword is to get there commodities in market which help them to gain competitive2
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