This document discusses the key roles and responsibilities of marketing function and how they relate to the expansion of an organization. It also analyzes the significance of the interrelationship between marketing and other functional units of the organization.
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Table of Contents INTRODUCTON..................................................................................................................................3 TASK 1.................................................................................................................................................3 P1.Explain the key roles and responsibilities of marketing function.................................................3 P2. Explain how roles and responsibilities of marketing relate to expansion of organisation............4 M1.Analyse the roles and responsibilities of marketing in context of marketing environment..........5 M2. Identifying the significance of interrelationship between marketing and other functional units of organisation...................................................................................................................................6 D1. Critically analyse and evaluate key elements of marketing functions that interrelate with functional units of organisation.........................................................................................................6 TASK 2.................................................................................................................................................7 P3. Comparing various ways of marketing mix which business apply in marketing plan to achieve objectives...........................................................................................................................................7 M3. Evaluating different tactics applied by organisation to achieve its goal.....................................9 TASK 3.................................................................................................................................................9 P4. Produce and evaluate basic marketing plan for organisation.......................................................9 M4. Producing a detailed coherent evidence-based marketing plan for business.............................10 D2. Design strategic marketing plan that tactically applies the use of 7P’s to achieve overall marketing objectives........................................................................................................................10 CONCLUSION...................................................................................................................................10 REFERENCES....................................................................................................................................12
INTRODUCTON Marketing refers as the activity that promotes the products of organisation to increase its sale through positioning for target audience. This includes advertising, sales promotion, channel of distribution, print and social media, etc. The organisation selected for this project is TESCO that refers as British multinational groceries, being the third largest retailer in the global market. The Chief Executive Officer of TESCO is Dave Lewis who competes with its rivalries as ASDA Stores Limited, Sainsbury, Morrisons, etc. This project describes key roles and responsibilities of marketing function that relates to the expansion of organisation for achievement of its goals and objectives(Aghazadeh, 2015). It compares the elements of marketing mix from one business to another as to determine their competitive strategies to remain stable in perfect competition market. Additionally it analyse the strategic marketing plan for organisation by determining its various strategies and tactics that may provide opportunity to achieve success efficiently. This also produces and evaluates the detailed coherent evidence-based marketing plan for business to accomplish its goals and objectives. TASK 1 P1.Explain the key roles and responsibilities of marketing function Marketing function:- It is referred as the ability of producers to communicate with their target market for describing the features of their finished goods which develops consumer awareness. This plays the major role in survival, growth and expansion of business for achieving success to compete with its competitors by their increasing consumer retention andhighmarketshare.Someoftheseareexplainedwithreferenceforrolesand responsibilities of managers of TESCO are as follows:- ï‚·Gathering and analysing marketing information:-The organisation focus on marketing functions by gathering and analysing information from its target market to determine the needs and desires. The role of managers in TESCO is to determine various ideas and strategies to develop unique product that provides satisfaction to its targetaudienceformaximisationofrevenueandprofitabilityratios.The responsibilities for managers of TESCO are to analyse the competitive strategies adopted by its rivalries that may cause threat to organisation in achieving success. ï‚·Strategic decision making:-The most important function of marketing department is to develop innovative ideas for planning through strategic decision making that leads to compete with rivalries. Managers develop ideas to develop brand awareness by positioning product in the mind of target audiences that will attract to purchase more of their finished goods. The role of managers for TESCO is to analyse the strategic marketingplanwithvariousmission,vision,objectives,etc.,thatwilllead organisation to achieve success. The responsibilities of managers for TESCO are to signify the importance of project to be achieved with effectiveness and efficiency that increase market share(Dodds and Jolliffe, 2016).
ï‚·Designingofproduct:-Thisrefersasdesigninganddevelopingtheproduct attractively with proper labelling and packaging that attracts consumers to purchase the product. The managers of TESCO implement this strategy in designing their product with best specialised features that enlarge their consumers with growth of business in economy. The role of managers for TESCO is to promote their finished goods with specialised features to their differentiated market at skimming price. The responsibilities of managers for TESCO are enlarging consumers to enhance market share for profitability ratios. ï‚·Setting Prices:-It is explained as analysing the expenditures incurred in production for determining the cost of product which is to be charged by consumers. The managers of TESCO implement pricing as to compete with rivalries through their price and quality management(Dwivedi, Kapoor and Chen, 2015). The role of managers for TESCO is to set prices that may further attract consumers to purchase more with maximisation of profits. The responsibilities of managers for TESCO are to develop qualitative products that may provide high level of satisfaction for which they are ready to pay high prices. ï‚·Promotional channels:-There are direct and indirect channels of distribution of products which provides products to its target market by removing the hindrance of place through manufacturers, agents, wholesalers, retailers, consumers. The managers of TESCO implement promotional channels to meet the requirements of consumers for achieving their organisational goals and objectives. The role of managers for TESCO is determining the efficient channel to provide their products to its target market. The responsibilities of managers for TESCO are to examine the pleasure or approval of customers from the product by determining its ability to meet their requirements. ï‚·Consumer support services:-It refers as generating the consumer support and loyaltybyprovidingthemsuperiorqualitativeproductswhichmeetstheir requirements. The managers of TESCO implement this service as to provide future facilities of services related with product such as servicing, repairing, construction, etc. Role of managers for TESCO is todetermine cost from its customers for the deliveryofserviceprovidedtothembytheproducers.Theresponsibilitiesof managers for TESCO are to solve the problems occurred to them by hearing it carefully and providing suggestions for its corrective measures(Grimmer, 2018). P2. Explain how roles and responsibilities of marketing relate to expansion of organisation The roles and responsibilities of marketing are related with growth and expansion of business by enlarging its consumers which enhance market share. Managers of TESCO are implementing these as to direct and monitor the actions of their employees for achieving the organisational goals and objectives efficiently that lead to attain success. These are as follows:- ï‚·Marketing with Finance:-Finance is one of the important part of marketing process as it helps in providing funds for the right campaign at the right time, budgetary control,addsfinancialdecisionsoncreativity,etc.ManagersofTESCOare
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advantageous as they are able to meet their budgeted targets through proper direction and control by rectifying the errors and solving with corrective measures. ï‚·Marketingwithresearchanddevelopment:-Thishelpsincreationsand innovations, new ways for being ahead from competitors by making new products and using new technology, return on investment are high after getting success.Managers of TESCO are beneficial with researching on their competitor strategies and to determine the impact of threat to control it by strategic decision making(Hamid, Ab Talib and Mohamad, 2014). ï‚·Marketing with operation:-Operations in marketing works as support to achieve the goals of an organization based on planning, organising, directing and controlling. The managers of TESCO are highly benefited with the concept of operation as it leads to manage their actions performed on various departments by controlling its quality and time management. ï‚·Marketing with production:-Here, production marketing involves distribution, communicationandmarketstrategies.It'sresponsibilitiesareproductname& branding, life-cycle and differentiation, launching new products, monitoring the competition, position and outbound messaging etc.Managers of TESCO focus on manufacturing those product which satisfy the demand of target market through its superior quality. ï‚·Marketing with sales:-Sales Management in marketing helps in increasing sales volume, long term growth and contribution in profits of an organization. It includes salespromotion,advertisement,pricing,physicaldistributionandproduction merchandise(Hisrich and Ramadani, 2017).The managers of TESCO promotes their products to customers by sales promotion with print and social media which can attract large number of rural and urban customers to attain success. ï‚·Marketing with information technology:-The role of information technology in marketingarecustomerrelationshipmanagement,digitalmarketing,internet marketing and the most trending in current scenario is mobile marketing.Managers of TESCO arebenefited with information technology as it helps in cost saving, solving major problems in customer services. M1.Analyse the roles and responsibilities of marketing in context of marketing environment The factors of macro environment affects the stability or instability of business in competitive market. It is further demonstrated with reference of PESTLE Analysis for managers of TESCO are as follows:- PESTLE Analysis:-This framework analyse and monitor the factors of macro- environment to determine the competitive strategies of business as compared to its rivalries. This is further explained with reference to the managers of TESCO are as follows:- ï‚·Political factor:-This factor consists of tax policies, fiscal and monetary policy, trade tariffs, labour and environmental laws, etc. The roles of managers in TESCO are adversely affected as they have to implement new ideas by pausing the existing plan because of change in political leaders.
ï‚·Economic factor:-It includes economic growth, interest rates, disposable income, foreign exchange rates, etc. The roles of managers in TESCO are negatively impacted by inflation and deflation rates that affect economic growth and stability of business for competing with competitors. ï‚·Social factor:-It involves population growth, demographic conditions, age and income distribution, etc. The roles of managers in TESCO are positively affected as they create job opportunities for literate members of society that will increase efficiency in goal achievement. ï‚·Technological factor:-The roles of managers in TESCO are positively affected by this technological factor as it promotes and position their goods to consumers which leads in maximisation of revenue and profits(Hugos, 2018). ï‚·Legal factors:-The roles of managers in TESCO are adversely affected legal and lawful obligations, health and safety, consumer protection rights, product labelling and safety, etc. ï‚·Environmental factors:-The roles of managers in TESCO are positively affected by this factor as they concentrate pollution targets, business stability and instability, utilisation of scarce resources, etc which increase consumer support. M2. Identifying the significance of interrelationship between marketing and other functional units of organisation The importance of interrelationship between marketing and other functional units of organisation are explained below:- ï‚·Utilisation of resources:-The business focus to utilise scarce resources available in global market as it develops strategic decision making to compete with rivalries. Managers of TESCO concentrates to fully utilise scarce resources as to attain success by expansion and growth of business for maximisation of net income and wealth. ï‚·Maximisation of revenue and profits:-Every business target to sell their products at least-cost effectiveness which attracts consumers to purchase more. Managers of TESCO attempts to maximise revenue and profits by enlarging their existing and new consumers which enhance their market share with revenue and profits. ï‚·Meet consumer requirements:-The consumers are king of every organisation which tendsproducerstodevelopproductinaccordancetomeettheirrequirements. Managers of TESCO interpret the consumer services as to fulfil the needs, desire and wants which provides them high level of satisfaction for qualitative products(Martin, 2018). D1. Critically analyse and evaluate key elements of marketing functions that interrelate with functional units of organisation The analysis of key elements of marketing functions that interrelate with functional units of TESCO organisation are to meet the consumer needs, desire and wants with proper utilisation of scarce resources. This leads to achieve organisational goals and objectives to attain success in competitive market by providing high level of satisfaction to its target market through quality management with least-cost effectiveness.
TASK 2 P3. Comparing various ways of marketing mix which business apply in marketing plan to achieve objectives The marketing mix is defined as the set of marketing tools which includes product, price,place,promotion,people,processandphysicalevidencewhichstartsfromthe productiontoitsconsumerservice.Theseelementsofmarketingplaymajorrolein promoting products to its target market for maximisation of revenue, profitability ratios and market share. Elements of Marketing MixTESCOASDA Product:-Thisrefersas producing the finished good in accordance with the needs and wants of the consumers. Ifitisnotsatisfyingtheir needs,thendemandofthe productwilldecreaseand customerswill not pay the desired amount. TheTESCOproducts consistsoffood,petcare product,beverages, technology,electricaland gaming products, sports and leisureproducts,etc.Itis advantageousindeveloping large variety of its products offeredinaccordancewith the taste and preferenceof consumerstomeettheir requirements(Paterand Cristea, 2018). The products of ASDA are food,grocery,clothing, home,entertainmentgoods, etc.Thecompanyis beneficialindeveloping varietiesofproductsby providingfinancialservices such as Credit Card, Travel Insurance,Personalloans, etc., that attracts consumers to purchase more which leads to maximise revenue. Price:-The pricing strategy oftheproductshouldbe basedonthecustomer satisfactionthatcreates comparisonwithother organisation.Itdoesnot mean that the product should besoldatcheaperrates becausethecustomersare willing to pay more, if the satisfactionlevelofthe product is high. TheTESCOmaintainsits expensesonproductionby implyingcostpluspricing strategywhichistobe chargedbyconsumersfor theirsatisfactionlevel.It plays the most important role in discriminating the business with its qualitative products andpriceforwhich consumers are ready to pay certain amount. The ASDA focus on low cost pricing strategy as it targets toenlargeconsumersin providingsatisfactionby meeting their needs, desires andwantswithqualitative products. It is essential for organisation in maximisation ofrevenueandprofitsto compete with its rivalries. Place:-It is described as the availability of product to its target market through direct andindirectchannelof distribution.Thisremoves thehindranceofplaceby providinggoodstoits potentialconsumerswhich increasetheirrevenueand profits. TheTESCOspreadits productwhileprovidingit either online or offline which reduce efforts for consumers astheycanreceiveit anywhere.Thecompany plays major role in removing thehindranceofplaceby distributingtheirproducts throughdirectchannelto analyse the change in taste andpreferenceoftheir customers. TheASDAattemptsthe indirectchannelof distributionforpromoting theirproductsthrough manufacturers,agents, wholesalers,retailersand consumers. The organisation isadvantageousasit determinethebehaviourof itstargetmarketby identifyingtheirgestures while purchasing the product.
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Promotion:-There are some tools which create awareness aboutorganizationproducts through sharing information to target audience. Some of thesetoolsarepersonal selling,salespromotion, advertisement, etc., that are mostlyusedincurrent scenario at social media for being connected to existing and new customers. TheTESCOpromotesits productthroughprintand social media, which attracts consumersthroughtheir brandawarenessand positioning.Itisbeneficial forbusinessesforthelow priceswhichenlarges consumers and enhance their market share. TheASDApromotesits productthrough advertisement,sales promotion,etc.,which attractslargenumberof customertopurchasetheir products.Itcreates opportunityforbusinessto surviveincompetitive marketwithconsumer support and loyalty. People:-This is one of the mostimportantpartofthe business because it is internal coreofthebusiness.It consistsofallthestaff membersfromthelower staff,supervisorsto managingdirectorofthe company. Peoples should be placed as per their ability of doingwork,sothatthe procedureofmakingthe productisdistributedto customersshouldbedone perfectly. TheTESCOorganisation consists of large number of employeessuchas manufacturers,supervisor, sub-ordinates,employees, etc.Thesecollaborate perform their task in order to achievesuccessby accomplishmentof organisationgoalsand objectives(Podnar, 2014). TheASDAconsistsof approximately160,000 peopleworkinginits organisation. It provides both on-the-jobandoff-the-job training to its workers as to increasetheirspecialisation inperformingtaskwhich result in efficiency of target. Process:-Thisisthe procedure of transferring the finishedgoodstothefinal consumers.Customersalso pay for the delivery service providedtothembythe producers. The procedure of TESCO is toprovideinputfromraw materialwhicharefurther transmittedinwork-in- progress and then converted tofinishedproduct.itis beneficialwith this process as it creates opportunity in expansionandgrowthof business in economy. The ASDA perform certain activities to achieve its goals andobjectivesinorderto attainsuccess.The organisation is advantageous withthisprocedureasto performcertaintaskin variousdepartmentsthat creates perfection in working style. Physicalevidence:-Itis described as either goods or services which are provided to the customers should have anphysicalexistenceor evidence at which they are ready to pay high amounts. TheTESCOfocusonthe physicalevidenceofits productthroughproducing it'sfinishedgoodswith prescribed details mentioned onitslabellingwhich developsthesupportof consumers.Itis advantageousbyimproving its total quality management withsixsigma,key performanceindicatorand Thephysicalevidenceof Asdaincludesunlimited stores,equipment,logo, websites, brochures, etc. The Asda plays major role with its fantastic website which is easy to access.
benchmarkingthatenlarge consumers with loyalty. M3. Evaluating different tactics applied by organisation to achieve its goal The various tactics implemented by TESCO organisation to achieve its organisational goals and objectives are as follows:- ï‚·Brand Positioning:-The managers of TESCO promotes their products to its target market by positioning it effectively in the mind of consumers which attracts them to purchase more(Pollock and Edwards, 2019). ï‚·Brand Awareness:-The managers of TESCO create brand awareness by describing safety measures which are to be implied by consumers while using the product for their safety. ï‚·Diversification:-The managersof TESCO developdifferentiatedproductsthat enlarge consumers for the varieties of different product for particular brand which increase its loyalty(Sharp, 2016). TASK 3 P4. Produce and evaluate basic marketing plan for organisation Strategic Marketing Plan:-This is defined as setting goals and objecitves by analysing the internal and external environment of business that emphasize competitive strategies to compete with rivalries. Managers of TESCO attempts to plan new ideas for the growth of investors in Capital marketing by expanding the use of technology to boost efficiency. The strategic marketing plan is further classified on various business purposes of TESCO are as follows:- Business PurposesExplanation MissionThe mission is to be champion for customers service in helping them to enjoy better quality of life and an easier way of living. VisionThe vision is to be the most highly valued business which provide effective consumer service to communities with operation, loyal and committed colleagues, shareholders, PlanThe strategic marketing plan is to develop new ideas for the growth of investors in Capital marketing by expanding the use of technology to boost efficiency. ObjectivesThe main purpose of TESCO is to provide groceries, electronics and clothing goods as well as large number of online services. StrategiesThe strategies of TESCO focus upon improving customer loyalty by developing online shopping experience to its customers. Some of these strategies are as follows:- ï‚·Increasemarketrevenuewith25%in2years:-The managers of TESCO attempts to increase revenue through supplying finished goods to its end-users for satisfying their needs with qualitative products(Smith and Stewart, 2014). ï‚·Increase consumer loyalty with 40% :-The managers of
TESCO enlarge their consumers by positioning their finished goods to consumers by promoting it for their speicalised features on advertisement, print and social media, etc. Potential ConsumersThe potential consumers of TESCO are classified on the basis of Segmentation, Targeting and Positioning target market, which leads to emphasize business on particular market for their product. These are described as under:- Segmented Market:-This refers as segmenting the whole market into small group which provides managers of TESCO to implement new idea of product for the specific market with same needs, desire and wants. The organisation target to fulfill their requirement with differentiated product as to meettheconsumerequilibriumwhichincreasesupport (Smith and et.al., 2014). Target Market:-It is explained as targeting the particular group for their specialised demands which are to be satisfied with unique product. The managers of TESCO focus on this target market as to provide them high level of satisfaction for which they are ready to pay high prices which leads to maximise revenue and profits. PositioningMarket:-Thisrefersasabilitytoposition product for their targeted audience by promoting it through advertisements, sales promotion, print and social media, etc., which affects the mind of consumers. This results in increase of sale with developing brand awareness with consumer protection laws. M4. Producing a detailed coherent evidence-based marketing plan for business The evidence-based marketing plan for TESCO consists of seven phases which are situationalanalysis,marketintelligence,assessment,researchandrealitycheck,test, expansion and refinement. This enhance the marketing plan by determining various strategies to compete with rivalries in order to sustain in perfect competitive market. D2. Design strategic marketing plan that tactically applies the use of 7P’s to achieve overall marketing objectives The marketing plan is to develop new ideas for the growth of investors in Capital marketing by expanding the use of technology to boost efficiency. This emphasize on 7P’s of marketing mix which creates opportunity for managers to direct and control the employees actions to increase their effectiveness with proper quality and time management(Van der Wagen, 2015). CONCLUSION From the above discussion it have been concluded that marketing plays the dominant role in promoting the qualitative products at least-cos effectiveness that attracts consumers to purchase more of their items. It creates opportunity to develop their competitive advantages for maximise revenue, profitability ratios and market share of business to compete with its
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rivalries. This project analyse the key roles and responsibilities of marketing function which are channel of distribution, marketing research, setting prices, consumer services, etc. These functional unites relates to the expansion of organisation for achievement of its goals and objectives. It provides differentiation between two enterprises through the seven element of marketing mix that are product, price, place, promotion, people, process and physical evidence. Apartly, this project evaluates different tactics that are applied in business to achieveitsorganisationgoalsandobjectiveswithproducingcoherentevidence-based marketing plan.
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