This document discusses the roles and responsibilities of marketing function, the interrelationship between marketing and other departments, and comparisons among the marketing mix of Bentley Motors Limited and Mercedes Benz.
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Table of Contents INTRODUCTION...........................................................................................................................3 TASK 1............................................................................................................................................3 P1 Roles and responsibilities of marketing function..............................................................3 M1...........................................................................................................................................5 P2 Interrelationship between marketing with other departments...........................................5 TASK 2...........................................................................................................................................7 P3 Comparisons among two organisation marketing mix......................................................7 TASK 3.........................................................................................................................................13 P4 Develop a marketing plan...............................................................................................13 CONCLUSION.............................................................................................................................16 REFERENCES..............................................................................................................................17
INTRODUCTION Marketing is a process or activity where customer and seller meet together with an aim of satisfying the need or demand in a effective and efficient manner. Along with this, this aspect is important for organisation as it enable them to generate long lasting relationship as well as acquires best position within the competing marketplace. Additionally, it contains several roles and responsibilities which help superior to promote the brand and also empower them to attract wide range of population towards the brand in a better way (ALHAKIMI and QASEM, 2014). Apart form this, within a business premises there are different functional unit and each of them contain unique set of roles and responsibilities that lead them to attain improved level of profitability ratio. In addition to this, marketing mix is considered as one of the integral phase which assist enterprise to deliver best quality of products by imposing affordable price and placing the same at proper place in order to gain competitive advantage in a productive style. In relation to this report,Bentley Motors Limited has been considered which is a leading and reputedmanufacturerandmarketerofluxurycarsandSUVsaswellassubsidiaryof Volkswagen Group. It is founded in the year of 1919 and headquartered at England, UK. In this study,itincludesrolesandresponsibilitiesofmarketingfunctionsanddemonstratethe relationship between marketing and other units of an establishment. Moreover, comparing two company's marketing mix as well as produce marketing plan help organisation to enlarge its market share or size in a amended way. TASK 1 P1 Roles and responsibilities of marketing function Marketing function is regarded as a role in which an organisation takes an initiative in determining the customer needand based on that take corrective course of action by allocating the proper resources. This is because, it enable an establishment to fulfil the requirements of consumers and also can promote the product in order to attain sustainable profitability ratio in an innovative and creative way. However, in context of Bentley Motors Limited, its marketing function contains various set of roles and responsibilities that empower it to place its brand in a better position and also to enhance the overall productivity. Some of roles and responsibilities are discussed below:
Roles Satisfying customer needs:This concept is considered as an important element for an establishment as it enable it to strengthen its sales performance and also can enrich brand value in an improved manner. Therefore, for example, Bentley Motors Limited, its manager makes an attempt in examining the existing market trend or demands and accordingly differentiate the product in order to survive within competitive business environment. On the other hand, poor quality of products and services may lead an organisation to face several difficulties like less brand value, decrease in productivity and many more. Market research:In this phase, it is related with the term which enable organisation to examine potential threat and opportunities in order to gain competitive advantage within challenging environment. For example, Bentley Motors Limited, its superior takes an initiative in evaluating the present market scenario and make use of all available growth possibilities that helpanestablishmenttoenlargeitsmarketshareorsizebyadoptinginnovationand advancement of technology within business operation (Ali and et.al., 2015). Responsibilities Branding:It is relate with an feature which is refer as an identification or representation of a product or service at marketplace with an aim of attracting large number of population towards brand. Thus, for example Bentley Motors, it makes an effort in analyse the market condition and adopts brand strategy that lead them to target the market in a better way and also can easily reach to wide range of population. Moreover, they are also assess with product development, pricing, new product launch, communication or media action over all channels of distributions and so on. Therefore, proper and suitable action empower Bentley Motors to enlarge its sales growth and also can obtain profit margin ratio. Maintaining relationship:This term is regarded as an essential element as it directly link with creating a positive response in the mindset of customer towards product. For example, if Bentley Motors makes an effort to deliver the product as per consumer taste and preference that empower them to develop long lasting network and it benefit firm by placing the brand in a competitive position. MARKETING Concepts
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There are various types of marketing concepts which help company to acquire best position within competing and challenging industry as it help them to determine customer trend or marketplace scenario in an improved way. Some of the concepts of marketing which Bentley Motors implies within its business premises are as follows: TheProductionConcept:Thisconceptismainlygroundedwithproduction, manufacturing, and efficiency aspects of particular product or services. Therfore, Bentley Motors maintain mass production that lead them to decrease their cost and maximise profits. Moreover, it enable its customers to attain high level of affordable and accessible. The Sales Concept:IN this, it is relate with sale of a specified product regardless of product quality and satisfaction of customer. Thus, Bentley Motors acquire innovative selling techniques which lead them to reach wide range of population in an innovative style. The marketing Concept:It is concern with placing the customer at the centre position as Bentley Motors identify theneed of consumers and take suitable strategy which lead them to expand their product in an improved way. The Societal Marketing Concept:Under this, Bentley Motors build social and ethical consideration which lead them to render effective and best quality of product among competitors. The Product Concept:Under this, Bentley Motors implies better qulaity and affordable price for its products which help them to place their brand in a competitive and aggressive position in a desired time frame. M1 Marketing have different roles and responsibilities which will be beneficial for an organisation. Marketing strategies, marketing information system, monitoring of marketing environment, marketing research, market segmentation and brand equality are consider major roles and responsibility of marketing in context to marketing environment. These responsibilities of marketing helps an organisation by increasing its sales volume, promoting its goods and services, improving brand image etc. Therefore, marketing is more beneficial process for success and growth of an organisation in marketplace. It will further support an enterprise by improving its market reputation and goodwill.Along with this, marketing research plays a major role as it help company to provide accurate information about the goods and services to targeted group of customers.
P2 Interrelationship between marketing with other departments There are several divisions working for the betterment of an organisation by performing different but important roles using taking support from each other. These departments include marketing,finance,humanresource,productionetc.Workingtogetherwithdifferent departments maximises the possibilities of achieving desired goals and objectives within pre- determined time period (Chatterjee and Gupta, Chopra, 2017). Here are such interrelationships betweenvariousdepartmentsalongwiththeircontributiontowardsachievementof organisational goals and objectives: Marketing department and finance departments:Marketing is performing duty of promoting products and services offered byBentley Motors Limited with an aim of attracting buying behaviour of targeted customers. Whereas finance department is responsible to arrange funds from different sources such as banks for the purpose of allocation to other divisions as per their needs and requirements. Marketing division uses various marketing tools such as TV Advertisement etc. which requires huge amount of funds thus requires support from finance division. On the other hand, finance division gets support from marketing division in terms of getting investors by promoting businesses. This interrelationship increases the possibilities of achieving organisational goals and objectives.For example, Bentley Motors acquires enough funds from finance division so that they can easily target the customer as well as market and can gin comparative advantage. Marketing department and human resource department:Human resource department is responsible to recruit and select best candidate at right time at right place so that an organisation can filled its workforce with skilled and knowledgeable employees. To perform its roles and responsibilities in an effective manner, HR manager requires support from marketing division which advertise vacant job position using different tools such as newspapers, pamphlets, digital platform etc. This will bring maximum positive result to an organisation in context of their profitability and sustainability. For example, Bentley Motor makes an effort to hire highly skilled and talented personnel in order to enlarge their productivity ratio. Therefore in such case, theyobtainsupportfrommarketingsectionbyprovidingappropriateadvertisementson newspaper, conducting job fare, online platform and etc. With the help of this, Bentley Motors can increase their overall performance in a amended way.
Marketing departments and production department:The needs and preferences of customers changes frequently which need to identified and evaluated by an organisation in order to achieve long term sustainability in competitive market.Marketing department is responsible to conduct market research on timely basis in order to identify the actual needs and requirements of targeted customers. This will support production department ofBentley Motors Limitedto produce demanded products with additional features needed by their targeted customers by communicating suppliers to provide them raw materials on time. This interrelationship facilitate an organisation to achieve its desired goals and objectives within pre-determined time period (Erragcha and Romdhane, 2014). Marketing department and IT department:Marketing performs various functions such as market research, using of marketing techniques such as TV Advertisement etc. This requires an organisation to record all expenses so that revenue can be matched in future in comparison of expenses. For this, IT department provide support by using various IT system such as MIS so that every expenses will be recorded at one place and allow finance department to allocate funds to marketing division accordingly. For example,Bentley Motors Limited marketing function acquire help from IT division inmaintaining their important data in a safe place. Due to which Bentley Motors can enhance its financial position in existing market. M2 Significance of interrelation among various teams It is essential for every department to work with each other towards achievement of organisational goals and objectives within pre-determined time frame. This will increase better relations among managers of different department which indirectly makes positive impact on working environment ofBentley Motors Limited.Along with this, communication between different division will be more strong which makes easy for an organisation to communicate their vision, mission and objectives in understandable way. Interrelationship between different departments will also beneficial for Bentley Motors Limited in development of its growth and success at marketplace as well as in customer's mind. Interrelationship will also support an enterprisetoretainemployeesforlongtimeandalsomaintainstrongrelationshipwith customers.Thus, better relationship among all departments are consider effective growth and success of an organisation in market.
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TASK 2 P3 Comparisons among two organisation marketing mix Marketing mix is a part of marketing plan and also it is refer as a strategy which an organisation utilises to formulate a product or service offering for its customers in a productive manner. Along with this, it is combination of several elements like product, price, place, promotion and many more that empower firm to deliver the right product at correct price at the rightplacewith appropriatepromotiontacticsfor obtainingmaximisationof profitina prescribed time period.In regard of this project,Bentley Motors Limited is taken which is a leading firm in manufacturing and engineering industry and its main aim is to become the successful and sustainable car manufacturer as well as luxury car maker within existing marketplace (Festa and et.al.,2016). However, one of its main competitor is Mercedes Benz, which is also a global automotive manufacturer of luxury vehicles, cars, buses, coaches and trucks. The business objective of Bentley Motors is to enhance the volume of sales by 20% in upcoming year. Hence, comparison among these companies marketing mix help business to place its brand in a better position and also can obtain sustainable profitability which is explained below: ParticularsBentley Motors LimitedMercedes Benz ProductInmarketingmix,itis considered as one of the initial phase as it is link with those element which consumers use tosatisfytheirneedsor demands in an amended mode. IncaseofBentleyMotors Limited, it is known as one of the leading premium car brand whichperformitsoperation across the globe. Moreover, it offers wide range of products On the other hand, among the premisesof MercedesBenz, theaspectofproductalso plays a vital role as it assist it toimproveitssales performancebyacquiring attentionofwiderangeof populationtowardstheir brand.Furthermore,italso termed as a reputed premium car brand in the world. But, in compare to Bentley Motors it
toaccomplishsustainable growth, it place its brand in Chinawhereitgainshuge enrichmentinluxurycar division. Additionally, it also takesan effort to enterinto emerging market in different partsoftheworldwhich render them more opportunity for enlarging its market share and size in a trenchant way. worldwhichgivemore convenienttoclients, suppliersandcustomersto consume products as well as inadoptinganysortof modificationinexisting products or services. With the help of this, firm is able to capture the attention of large number of individuals towards itsproductinaninnovative style (Foxall, 2014). PriceUnderthiselement,it signifiesthevaluewhich company receives in exchange of their products and services. Hence,pricingismainly determined by the cost of the productandalsohowmuch consumers are willing to pay forfulfillingtheirneed.In context of Bentley Motors, it mainly deals in delivering ultra highendluxuriouscarby targeting rich sections of the community. Due to this, it has beenidentifiedthatBentley Motorsuseshighpricing strategyasitsmostofthe product's price is much higher than the cost of normal cars. Onthecontrary,Mercedes Benz is known as a premium pricedluxurycarbrand. However,forsustaining withincompetitive marketplace,itadoptsniche segmentsinitsfunctional process as they prefer quality more than price. Furthermore, MercedesBenzapplies premiumpricingstrategy which states that its product's priceishigherthanother brand as it mainly target richer sectionofthesociety. Henceforth,duetoits impressive degree ofquality, it help Mercedes Benz to cope withallexistingand
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Additionally,thestrategy whichleadsittoretainthe attention of present customers and also to attract more new consumerstowardsbrandis that it render the facility to its targetedpopulationtogive theiridea,suggestionand viewsinmanufacturinga particular car model. With the help of this, firm isable to enlargeitsmarketshareor growth in a productive style. AnotherthingaboutBentley Motorsisthatitnever compromise its quality for the sakeofpricewhichaid company toplace a positive image among customers and it benefitsitinincreasein volumeofsalesamong competitors (IÅ¡oraitÄ—, 2016). upcomingcompetitionand threatinaninnovativeand productive style. PromotionIt is the strategy which enable anorganisationtogain competitiveadvantageand also to reach large number of populationinanimproved way.InregardofBentley Motors,itbelievesmorein ethicalmarketing rather than extravagant marketing tactics. For instance, Mercedes Benz isregardedasaggressive promoteramongdifferent competitors. The promotional marketingstrategywhich Mercedes Benz implies in its functionalareaisoptimal utilisationofallmedia channelslikeTV,online,
Therefore, its major source of promoting product is making use of advertisement on both TVandinternetaswellas campaigning.Additionally,it also utilises some engineering marketingtechniqueswhich assistitstomakeitsbrand visible at international scale in an prompt way. billboards,socialmedia platforms,printandmany more.Alongwiththis, Mercedesgeneratebrand awarenessbyorganising differentcustomercentric activitieslikeMercedes trophy,Luxedrive, international driving platforms and etc. that render enormous opportunitiesforfirmto enrichitssalesperformance andproductivityina stipulated period of time. Physical evidenceUnder this concept, it is relate with those component which encompasses interior ambiance of a company for capturing the attention of population in an improvedmanner.Therefore, Bentley Motors maintains its entire workplace in a creative and impressive style as it uses alllatesttechnologyand equipments for carrying their working process. Due to this, company is able to strengthen itsoverallperformanceina trenchant mode. Moreover,incaseof MercedesBenz,beinga premium and leading brand in manufacturingindustry,it alwaysimposeadvanced model of equipments and tools for its manufacturing process thathelpthemtogain increasedlevelofemployee satisfaction and also lead it to givebetterserviceto customers. Along with this, it adoptsimpressiveinterior designswhichcreatehuge positiveimpactover consumersandclientsthat reflectsinimprovementin
salesperformance(Khan, 2014). PeopleUnderthiscategory,it comprises system and human resource which has been used for the accomplishing desired goal or objective in a better manner. In regard of Bentley motorsitcontainshighly skilled and capable workforce who put their best performance towards an attainment of high levelofproductivityand profitability. On the other hand, Mercedes Benzmakesaninitiativein accqwuring best and talented manpowerwhoareableto come up with novel ideas or techniques. With the help of suchcontribution,Mercedez Benz is able to acquire best positionwithincompetitive industry in an innovative and impressive style. Processthis, it is relate with those componentwhich encompassesprocedure, system,processforcarrying out the objective in a effectual mode.Thus,BentleyMotors implieshierarchystructure within its functional unit that help them to generate a better working environment and also assistcompanytogainhigh level of personnel satisfaction andengagementtowards achievementofgoal. (Meredith,2016).However, Bentley Motors provide proper For instance, Mercedes Benz followsdemocraticmodeof structure in its business unit that empowers it to identify eachmanpowerpotentiality andhelpittodelegate appropriaterolesand responsibilitybasedoneach personnelpotentialityand capability.Withthehelpof this, Mercedes Benz is able to acquireimproveddegreeof employeeparticipationand motivation regarding working culture. Under this, Mercedez Benzisfollowingeasy
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trainingtoitsmanpower regradingmanufacturing whichleadthemtoattain sustainable growth. manufacturing process for its product and services by which theycansatisfycustomer needsandwants appropriately. M3 Evaluate different tactics applied by organisations for accomplishing its objective As per the comparison between Bentley Motors and Mercedes Benz, it has been identified that both the brands are well known and acquired best positions within competing industry. Moreover, their targeted market is rich section of community and implies premium pricing strategy. Furthermore, both firms are highly conscious about its quality that lead them to gain competitive advantage in an innovative and creative style. TASK 3 P4 Develop a marketing plan Marketing plan is a detailed document which comprises vision, aim, objective, marketing mix, SWOT and many more in order to accomplish the organisation pre defined objective or goal in an efficacious and expeditious manner within prescribed time limit. In context of Bentley Motors, it is planning to expand their business in new division i.e. introducing electric car which can move automatically without the support of driver (Papadas, Avlonitis and Carrigan, 2017). Therefore, marketing manager make an endeavour to produce a marketing plan for their new product which is given below: Marketing Plan Executive Summary:Bentley Motors is British manufacturer and marketer of luxury cars which was established in the year 1919 having headquartered in England, UK. The company now decides to expand its business in new division by introducing electric car which have an additional feature of moving automatically without taking support of driver. For this, the management implement strategies with an aim of achieving long term sustainability of its new product into market. Mission:To conquer continents in speed, in luxury, and in the ultimate goal. Vision:Tobecome the world’s most successful luxury car maker.
Objective To increase revenue by 20% of sales within 6 months of time period. STP Segmentation: The market segmentation used by the organisation to identify the needs of customer's. For electric cars management focuses on the demographic and psycho-graphic factors in order to change the needs of market. Further, it uses new the market technique through which they boost the morale of stakeholders to save natural energy by creating their awareness among them through effective presentation and advertisement. This refers Bentley manufacturers their new electric cars for all segments. Targeting: Target market for the electric cars are the middle class segment as the brand equity attract more number of customer's. Moreover, the organisation which sales their products to the upper class segment as it leads the management to sale their products at premium price. This determines that it is easy for organisation to earn high amount of profits by selling their products at more prices. In context of new products the management of Bentley utilise selective strategy for targeting more number of customer's. Positioning: To position the market segments is the last step of the STP process. In this the management analysis different factors through which Bentley easily position their market. Along with this proper positioning leads the organisation to communicate their brand effectively with the customer's. The positioning of products results it is easy for Bentley to create better image in the mind of consumers. This works as the intangible benefits for the organisation such as providing satisfaction level to the consumers through owing the brand. 7P's of marketing This element is relate with those area which enable company to acquire best position within existing marketplace. The marketing plan of Bentley Motors are as follows: Product:This term is concern with providing best and high quality of product to targeted customer. However, Bentley Motors offers wide range of products like continental flying spur, luxury cars, SUV and etc. in a improved quality which help them to acquire high productivity. Price:It is the cost of a goods which consumer pay and fulfil the needs. Hence, Bentley Motors delivers its products in a high ratei.e. premium pricing strategyas they targets richer section of community.Due to such action, it enableBentley Motors to place the brand in a
competitive and aggressive position in existing marketplace. Moreover, Bentley Motors product price starts from Rs. 3.12 Crore. Place:This is relate with choosing proper and convenient location so that customer can find comfortability and satisfaction towards brand. Moreover, Bentley Motors has its division in several countries in a prime location that captures large number of population towards company. Promotion:It is a technique through which organisation can enhance its brand value among competitors. However, Bentley Motors utilises online marketing and advertisement of newspaper, m magazines for obtaining profit maximisation in an efficient way. Physical evidence:In this, Bentley maintain its interior ambiance and features which enable establishment to invite several new customer and to retain existing consumers within the brand for longer time duration (Taneja and Toombs, 2014). Process:Itsignifiesthestructure,systemwhichencourageemployeestoachieve business goal in an efficacious way. Thus, Bentley Motors follows hierarchy structure that motivate them to bring amended level of collaboration and cooperation among team members. People:In this, Bentley contains highly skilled and talented manpower who impose best contribution for an attainment of high productivity and proficiency ratio. SWOT Analysis Strength ï‚·It has strong brand equity and market position as it's product covers across the globe.ï‚·Being a expensive product but still it success in producing quality product that assist them to acquire competitive position. Weaknessï‚·Bentley has limited presence in emerging economies which directly influence over its decision making process and productivity ratio. Opportunityï‚·It has wide range of opportunity in introducing the environmental friendly product with hybrid or electric transmission which assist them to enlarge its profit margin ratio in an impressive manner. Threat ï‚·Increasing fuel prices and strict government regulations impose huge threat over Bentley to gain competitive advantage in a current industry.
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Marketing budget Bentley has allocated the targets for the launching new electric car. The implementation cost is mentioned below: ParticularsAmount (€) Marketing600000 Equipment200000 Safety Measurements230000 Training640000 As per the above mentioned marketing budget, Bentley Motors requires € 600000 for promoting and fulfilling the marketing requirements of company among present industry. On the other hand, € 200000 has been identified for allocating equipments and along with this, in order to acquire safety measurements company estimated approx € 230000. Finally, without proper effort of employees, organisation cannot enlarge its market division as it desires to provide effective training program for which Bentley Motors requires € 640000. Monitoring and Controlling It is essential for Bentley Motors to monitor and govern its business operation and takes an initiative to examine overall performance. This is because, it help them to take corrective course of action in order to place the brand in a better position. Moreover, it also enable them to examine whether all activities are executed properly for improving the overall performance and obtain amended degree of satisfaction from targeted population. CONCLUSION It has been concluded from the above discussed report that marketing is viewed as an integral element in every establishment as it aid them to build healthy customer relationship and also to promote the brand in a productive style. Moreover, it has interlinked with other divisions of organisation which help firm to accomplish its pre defined goal in a given time frame without any obstacles. Along with this, marketing mix enable company to cope up with all sort of
challenges or threat and also to grab all available opportunities in order to obtain increased level of sustainable profit margin ratio.
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