Table of Contents INTRODUCTION...........................................................................................................................1 TASK 1............................................................................................................................................1 P1 Key roles and responsibilities of marketing function............................................................1 P2 Roles and responsibilities of marketing relate to the organisational context.........................4 TASK 2............................................................................................................................................6 P3 Comparison of ways in different organisation apply marketing mix for planning to achieve objectives.....................................................................................................................................6 TASK 3............................................................................................................................................8 P4 Produce and evaluate a marketing plan for an organisation..................................................8 CONCLUSION..............................................................................................................................11 REFRENCES.................................................................................................................................12
INTRODUCTION Marketing is an effective tool for every organisation which helps in create better position and achieve set goals or targets. It is a set of activity and procedure that used by organisation for the purpose of creating, designing, manufacturing, delivering, communicating and distributing of particular goods and services in the market. In this consist marketing study that helps in identifying current trends, customers choices, demands, tastes and preferences, build good relationship among people, provide goods or services, various tools or techniques and manage reputation or goodwill, fashion which is necessary for increasing profitability and productivity of business firms (Baker and Saren, 2016). It support in find potentials customers and provide them better quality of good or services to satisfy their desired expectation. This report is based on Coca-Cola which is US based company and deals in soft drinks in the global market. There are most famous drinks of coca cola such as Diet Coke, Sprite and Fanta etc. This assignment will define about various roles and responsibilities of marketing functions and their interrelation with organisation. It will also describe the several ways and compare marketing mix of different firms as well as produce a marketing plan to achieve goals or objectives. TASK 1 P1 Key roles and responsibilities of marketing function Marketing is an essentials tools for business organisation which helps in identifying customers demands and current trends through proper study so that company make decisions regardingproductionofgoodsorservicesinanappropriatemanner.Itisthestudyof management of relationship with customers and business as well. Marketing is define as the procedures and institution in which included various activities such as creation, keeping as well as satisfying customers in well manner (Brassington, 2013). It can be said that marketing is the premier components of the business management because it support in developing firms and create awareness among customers regarding goods or services. on the other side, marketing is defines about customers satisfaction and satisfy their desired needs or wants in well manner. There are many firms who focus on adopting new marketing plan and business strategies so that they can create better position among competitors. Coca cola also considered same and use various marketing tools or techniques for increasing demands and create awareness into targeted 1
audiences in an appropriate ways. There are defines some importance of marketing for coca cola such as: Importance of marketing:ď‚·Support in transfer, exchange and movement of goods:This is a plus point of marketing that company can transfer, exchange as well as movements of particular goods or services to satisfy customers desired expectations. In this consider several intermediaries for making available products or services to people such as wholesalers and retailers etc. marketing functions are beneficial for organisation, producers and consumers.ď‚·Maintain the standard of living:It is another benefit for society that marketing functions support in managing and maintaining people lifestyles and their living standards in well manner (Pettitt, 2013). It produce and sell particular products or services to the consumer at a reasonable price so that they can afford and buy for fulfilling their requirements.ď‚·Create employment:In this define that marketing is complex and it involves number of people for performing various activities or tasks in an effective manner. There are some major functions of marketing such as buying, selling, distribution channels, finance, warehousing, risk bearing, transportation and standardisations that play vital role ins developing firms and run its operations in better ways. Coca cola is dealing at global market so there are number of employees working here.ď‚·Source of income:It is biggest source for generating revenues because marketing functions included various activities that must be performed in well manner so that company can increase its profits in an effective manner (Desai, 2013). Coca cola is also earning higher profits or revenues because entire activities connected with gaining more incomes from marketing actions. ď‚·Source of new ideas:Marketing is best source for generating and developing a new ideas or concepts so that business can be promoted and goals can be achieved. In the environmental changes, it affects on the production and distribution as well as tastes, preferences of customers so that marketing helps in identifying best tools or techniques to achieve desired outcomes. They consider new ideas and thoughts to produce new goods or services according to changing climate. Key Marketing functions: 2
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The main purpose of marketings is to exchange of particular goods or services from producers to consumer so that they needs or wants can be satisfied in well manner. Marketing functions included various activities such as identifying customers needs and provide them better quality of products for satisfying their desired expectations in an effective manner (Desselle, 2016).Themarketingfunctionsincludedseveralprocesssuchaspurchasing,selling, distributing, transporting, standardising, grading, financing or funding and risk taking etc. these are as following:ď‚·Marketing analysis:It is most important component of marketing process in which particular situations or conditions analyse through conducting research or survey. In this, marketing department conduct a survey for analysing market conditions, current trends, fashions,s customers choices, behaviours, demands, tastes and preferences, strong competition, and environmental factors that have direct impacts on the business and these can affects on operation. Therefore, it is necessary to find several forces so that better strategies can be formulated. Coca cola consider this functions for expanding businessatdifferentcountrieswhichsupportinfindrightmarketandtargeted audiences.ď‚·Market Segmentation:It is a process for identifying particular target market by dividing a broad consumer into sub-group according to various segmentation. In this researcher try to look at common character including similar lifestyles, interests, and needs of customers so that company can produce and deliver effective goods or services to the right customers (Zgarrick and Alston, 2016). Coca cola is selling its products across the global countries. There are various criteria which helps in segmenting the particular market on the basis of: â—¦Demographic:Inthis,organisationundertakecustomerscharacteristicsfor segmenting the market according consumer behaviours. It includes age, gender, education,occupation,incomelevel,familysize,socio-economicstatusetc. therefore, Coca Cola focus on every young people who like its tastes. â—¦Geographic:In this phase, market are divided according to geographical areas, locations or region so that company can find its targeted audiences. It include country, suburb, states, city, hilly and desert etc. Coca Cola is selling its products or services at several countries as they covered wide geographical areas in the world. 3
â—¦Psycho-graphics:There are various companies who segment market as per the customers lifestyles, social as well as personality characteristics and many more so that they can reach at target audiences after better identification. â—¦Behavioural:In this consider the behavioural of customers towards specific goods or services as it includes needs, benefits-sought, occasions, customers loyalty and buyers behaviours sop that company can targets its potentials customers and try to reach at them.ď‚·Pricing: This is another important function in which marketing manager fix price of a products (Dibb and Simkin, 2013). It must be set in well manner because it affected by costs or expenses, rates or profits, government policies, price of competing products etc. this component helps in attracting number of customers towards firm for satisfying their desired outcomes. Coca cola sell its products at reasonable price which is affordable for customers.ď‚·Distribution:In this functions of marketing, organisation make decisions regarding carrying out various goods or services from one place to another such as production to finalconsumptionplace.Itisnecessarytotakecorrectiveactionsregarding transportation, inventories, storage facilities, warehousing, and order processing so that they can provide right products to the right customers at defined time period. Coca Cola is serving its products or services at different places by undertaking distributing network. ď‚·After sales services:It define the services which are given by organisation after making sales in an effective manner. This is an essentials for making good relations among customers because company wants to make them loyal towards firm so that long term benefits can be get (Hauer, 2011). Coca Cola provide its products to the customers and take care their satisfaction level which must be necessary to achieve predetermined goals or objectives. P2 Roles and responsibilities of marketing relate to the organisational context In the present scenario, there are number of organisation that deals in international market so they focus on carry out their business functions. They run operations and transactions by undertaking several divisions that exists. There are several roles and responsibilities defines which perform by the marketing department of the company for achieving their common goals or 4
objectives. Many of firms consider their different departments and managers of every or each department formulate strategies for achieving set goals. Coca Cola is one of the biggest brand of beverage sector that deals in soft drinks in the particular market at global level. They also undertakeseveraldepartmentoforganisationsthatperformtheirdifferentdutiesor responsibilities so that business can be developed in the market place (Jones and Rowley, 2011). There are some important department of Coca Cola such as human resource, Marketing, finance department, R&D and many more which all are interlinked with marketing functions. These must be undertake for better coordination so that company can accomplished its set visions, missions and objectives at right time. It can be understood by taking some examples such as:ď‚·Human Resource Department:It is defines as the most important functions ion which HR manager take responsibility to manage employees with their performances and create positive environment within the firm. It play an important role in managing relationship among people and manage human resource to achieve particular goals. HR manager perform various roles, responsibilities, activities and functions including recruitment and selections, training and development programs, performance appraisals and motivate to employees so that they can attain predetermined targets in an effective manner. This is the major task that to assign works and align goals. HR manager of Coca Cola consider several activities as enhance employees abilities or skills through learning sessions which support in improving their current performance and motivate to attain set goals.ď‚·Finance department:It is most important functions of organisation as without funds, a company cannot its functions or activities so it is necessary to arrange as well as manage appropriate funds in well manner (Lamb and Hair, 2011). It is a backbone of business, therefore, finance manager make decisions regarding formulating strategies and make budget for running business operations. Coca Cola consider this and try to manage as wellascontrolover thefundssothatmaximum outcomescanbe get.Finance department provide necessary funds or financial services to the other department such as marketing, human resource etc. to attain set targets.ď‚·Marketing department:This department crucial role in creating better positions among competitors by formulating better strategies and make actions plans in an appropriate manner. Marketing manager focus on analyse market situations and current conditions through effective study. They conduct research and gather data about customer's choices, 5
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preferences, behaviours, competitors, environmental factors that have major impacts on the business operations so it is requires to formulate better strategies to survive from critical situations. It includes various promotional channels and tools that helps in creatingawarenessasCocaColadoes(McDaniel,2011).Theyusecelebrities endorsement and innovative advertisement for attracting number of customers.ď‚·Production department:This function is directly interlinked with marketing department as they gather data or receive informations regarding products or services which support in increasing revenues or profits in well manner. In this, manager provide adequate informations to the production department regarding actual conditions of market and current trends so they make decisions of manufacturing better goods or services. Coca Cola produce better quality of products or beverages as per the consumer demands. ď‚·Customers service department:In this define that organisations are responsible for managing and maintaining better relationship among customers so that they will be loyal for long time period. Coca Cola undertake this factor and try to handle customers problems or complaints so that better solution can be made for their satisfaction (Malhotra and Birks, 2013). They have a separate department of customer care services in which department listen consumers problems and try to make ultimate solution in well manner. TASK 2 P3 Comparison of ways in different organisation apply marketing mix for planning to achieve objectives Marketing mix is best component of marketing functions that helps in formulating effective strategies and make actions plans so that company can achieve predetermined goals or objectives in well manner. There are various roles and responsibilities included which play an important role in increasing profitability and goodwill in the market place. Marketing mix consist 4 and 7 elements that known as 4ps or 7ps of marketing including products, price, place and promotions, people, process and physical evidence (Papasolomou and Melanthiou, 2012). These are beneficial in making entire work in more easy way and run business operations for the purpose of surviving in the competition environment. Many of organisations undertake these elements for competing with tough or strong competitors. Therefore it is necessary for Coca Cola 6
that to carry out various tools or aspects of marketing mix so that better outcomes can be get. It can be analysed by undertaking the comparison between Coca Cola and Pepsi Cola as how they apply marketing mix tools for achieving organisational goals or objectives such as: Basisof difference Coca ColaPepsi ProductCocacolaisdealingaround3500 products in the market place in which included soft drinks, coffees etc. This is also a big brand that serves variousfoodsandbeveragesat global market such as snacks, chips and soft drinks etc. PriceCoca-colausepricingstrategies whichisbasedonsegmentation, geographical, and competitors based forprovidingproducts(Perreault, 2010). They also focus on providing goods at reasonable price so they adopted market penetrations and competitor based strategies. PlaceCoca-cola is selling its products at different countries around 250.s they focus on strong distribution channel to reach at customers. They are also covered wide area of earthandprovideproductsat restaurant, retails shops and stores. PromotionsTheyfocusoncreatingawareness amongcustomersbyundertaking promotionaltoolssuchas advertisement, CSR, and celebrities endorsement. Theyareusingvarioustoolsor techniquesofpromotionssuchas advertisement, commercial ads, and highercelebritiestocreatemore awareness (Pike, 2015). PeopleThisfirmfocusonemployees becausetheyarekeypeoplefor achieving success in the competitive environment. Theyundertakeemployees performanceandprovidethem training to enhance skills so that they cantreateverycustomersinwell manner. ProcessThey use their simple procedures asThey use process strategies which is 7
labelling, packaging and bottling that can be recognise in easy manner. transparentsothattrustcanbe created in more effective manner. Physical EvidenceCoca cola has trademark and logo that is resemblance of this firm. In this included logo and particular designorsymbolofPepsithat distinguish the product from another (Rossi and Allenby, 2012). TASK 3 (Covered in PPT) P4 Produce and evaluate a marketing plan for an organisation For achieving organisational success, there must be requires tos produce and develop effective Marketing Plan for the company as in this consider a draft for reaching at particular place. Organisation consider a marketing blueprint where define several guidelines to attain potentialstargetsinmoreeffectivemanner.Inthisconsistaoverviewofcompanyby undertaking missions, visions and SWOT or PESTEL that support in making better decisions and formulate strategies to achieve set goals or objectives in better ways. It provide an appropriate framework that helps in making decisions about accomplishing goals or set targets bys using important tools or techniques in an effective way. There is define a marketing plan of Coca Cola for promoting products or services as well as business in the marketplace. The marketing manager of Coca Cola considered a raw draft or blueprint of marketing plan by undertaking budget, SWOT and PESTEL for the purpose of achieving predetermined goals or objectives in well manner. There are various factors defines which based on environmental elements and they affects on several ways of the business firm. Therefore, planning should be clear and effective so that Coca Cola can survive in the tough competition. Here is entire description of marketing plan such as: Overview of Coca Cola Company: It is an American company which deals in varieties of products or beverages such as non- alcoholic as well as soft drinks in the global market. There are number of customers attracted towards firm and they prefer Coca cola rather than another drinks to satisfy their needs or wants in more efficient manner. It has founded by John Stith in the year of 1892. this company is listed 8
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among top most famous companies because of its strong reputation or goodwill. It has generated revenues aroundÂŁ1.2 billion as per the data. Missionofcompany:ThemissionstatementofCocaColaistoserve better quality of products and promote good health with happiness so that people can enjoy their life in better manner. They also focus on creating high value of customers and increase brand image among competitors for achieving long term objectives. Vision of Coca Cola:The vision statement of Coca Cola is to focus several componentssuchaspartners,portfolio,peopleandproductivities, profitabilitysothatbettervisionscanbecreated.Thiswillsupportin providing better guidelines as per the planning so that employees will be ready to achieve set goals in limited time period. SWOT Analysis: In this consist strengths, weaknesses, opportunities and threats for the purpose of making proper judgements and also support in analysing internal factors that can affects on profitability and productivities of the company. It can be analyse by followings: Strengths: ď‚·Coca cola have good brand image among competitors and have high value of brand equity in the international market. ď‚·There are number of countries where Coca Cola selling its products or services which is also biggest strength of this firm.ď‚·They focus on making better strategies and adopt several tools or techniques so that they can beat with competitors such as Pepsi Cola. Weaknesses: ď‚·The weak point of Coca Cola is its product diversification which is minimal as compare to Pepsi so it is difficult to beat with competitors.ď‚·It can lose its brand image due to facing various critical situations because it has registered in controversies that minimise reputations. Opportunities: 9
ď‚·The major opportunities for Coca Cola is to expand their business at different places and carry out production process for developing firm.ď‚·This firm can compete with competitor by maximising its products line in several areas. Threats: ď‚·Therearenumberofcompetitorsavailableinthemarketsuchas Starbucks,CafeCoffeedayandPepsiColawhoaredealingins beverage sectors so they are attracting huge customers by promoting their products. ď‚·Insthisalsoconsiderseveralenvironmentalfactorsthatinfluence firms due to fluctuations as per the changes. STP for Coca Cola:ď‚·Segmentation:In this included various components which helps in dividing market on the basis of several criteria such as demographic, geographicandbehaviouralsothattheycanfindpotentials customers. Coca Cola has segmented their market as per consumer age, Gender, family size and nation.ď‚·Targeting:Coca Cola targeted its market according to segmentation such as the age group of 12 to 30 year people who prefer to take cola flavour in beverage. ď‚·Positioning:theyhavepositionedatmaturitylevelbycapturing market and attracted more customers towards firm. Marketing Budget: It is necessary to formulate budget and prepare an appropriate plan for marketing of goods or services. they consider several activities such as advertisement, sales and promotions, direct marketingand marketing tools or techniques so that they can achieve predetermined goals or objectives. Marketing budget 10
Particulars1st year2nd year3rd year4th year5th year Initial money5400015000150002600020800 Investment20000150001600014000 Total5400035000300004200034800 Marketing expenditures Advertisement100007200680065006200 Sales promotion22002000500030009100 Direct marketing77006500250075003000 Total1990015700143001800018300 Available balance3410019300157002400016500 Evaluation step:In this included a mini market research as well as survey for reviewing the process and find current situations in well manner. Coca cola firm has to undertake this to make better decisions and solve any define problems. Control:Itisthelastphaseinwhichmanagercontroloverall activities by taking better actions so that company can achieve particular goals or objectives. 11
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CONCLUSION It has been concluded from above prepared report that marketing is a prominent concept that involve several activities to be performed by business organisation in order to promote product in market place. The report is about the coca cola which perform marketing function in order to accomplishment of final aims and objectives. The assignment concentrates on several roles and responsibility fulfilled by marketing department as well its links with other department. Apart from it comparison of marketing mix is also been underlined. 12
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