Marketing Essentials - eBay Assignment
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Added on 2021-02-19
Marketing Essentials - eBay Assignment
Added on 2021-02-19
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Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1LO1..................................................................................................................................................1P1. Marketing function's roles and responsibilities ....................................................................1M1. Roles of marketing in context of marketing environment ..................................................2P2. Interrelation of marketing with other departmental units ....................................................3M2. Significance of interrelationship .........................................................................................4D1. Critical Analysation..............................................................................................................4LO2..................................................................................................................................................4P3. Marketing Mix......................................................................................................................4M3. Evaluation............................................................................................................................7LO3..................................................................................................................................................7P4. Market Plan...........................................................................................................................7M4. Detailed marketing plan ....................................................................................................10D2. Strategic market plan by using marketing mix ..................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing is a set of organisational activities and processes that is used to promote andsell business products and services by indulging in market research and advertising. This reportis based upon an organisation named eBay Inc which is an American based e-commerce businessenterprise that provides goods and services to its customers through internet (eBay, 2019). Thisreport covers the significant responsibilities and roles of the marketing function in this enterpriseand in the context of external business environment. It also covers the interrelation betweenmarketing function and other functional units of an enterprise and the importance of thisinterrelationship in achieving business objectives. It also covers comparison of eBay with otherbusiness enterprise on the basis they apply marketing mix for achieving business goals andobjectives. At the end, it includes a strategic marketing plan which is developed for attainingvarious business goals and aims which eBay desires to achieve. LO1P1. Marketing function's roles and responsibilities Marketing function can be defined as a role that helps an enterprise in identifyingpotential sources for the marketplace. It is very important for an organisation to use marketingfunction in an appropriate manner for attaining various goals of an organisation. In eBay, thereare various functions of marketing that performs certain roles and responsibilities in a businessenterprise that are elaborated as follows-Promotion- The basic function of marketing in an organisation is that it helps inpromoting and advertising goods and services produced by a business enterprise. Promotion is aform of communication between buyers and sellers in which customers are made aware about theexistence of a specific product and service. Ebay uses online promotional techniques in order toadvertise its products to its buyers. Product Development- It refers to developing a product as per the demands, tastes andpreferences of customers in the target market. Product is developed in two ways either byintroducing a brand new product in market or by making certain changes in the existing productby analysing current market conditions. Marketing plays an important role in developing aproduct by indulging in marketing research and identifying the strategies adopted bycompetitors. For example: eBay provides a platform to both buyers and seller to buy and sell1
goods at various prices and it keeps on updating its website by analysing customer tastes andpreferences. Market Research- It is determined as activities and actions that are used to gatherinformation about customers demands and desires (Abbate, 2017). The another important rolewhich is performed by marketing function is that it helps the organisation in indulging itself inmarket research by analysing the competitors and by identifying the tastes of customers. Thebasic role which is played by market research in an enterprise is to make the organisation awareabout the current trends in marketing. eBay indulges itself in market research in order to find outwhat customers wants and provide them products and services in accordance. Marketing Strategy- It is defined as a future looking approach for developing a planwhich is utilised to achieve business goals and objectives. Organisations can use variousstrategies for formulating an effective marketing plan such as product development, marketdevelopment, market penetration, diversification, and so on. It is very important for a businessenterprise to indulge itself in proper market research and then on that basis formulate an effectivemarketing strategy which will be helpful in achieving business goals and objectives (Abushadiand et. al., 2015). M1. Roles of marketing in context of marketing environment Marketing performs various roles and responsibilities which helps the firm in achievingits goals and objectives. The roles and responsibilities performed by marketing function is notonly limited to organisational context but, it is equally significant to external environment. Theroles performed by it in wider environmental context is elaborated as follows-Marketing Information System- This helps the enterprise to provide it essential dataand information regarding certain specific factors which are planning, implementing, controlling,developing strategies and developing products. For example, it helps in depicting data related tologistics which is based on real time and helps in distributing work network in an appropriatemanner. eBay uses this system to attain information about various factors that are useful for itsoverall functioning (Allen, 2016). Monitor Market Environment- In context of external environment, marketing functionis responsible to monitor and develop the marketing environment. These developments providesconstructive response to develop a particular product or service of a business enterprise. Itinvolves changes in market traits, economic and social forces, political, legal changes, and so on.2
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