Importance of Marketing in Business Success

The provided report highlights the significance of marketing in a firm's success and growth. Marketing encompasses various activities that help promote products effectively, including promotional tools and direction for future actions. The document references several books and journals on marketing essentials and functions, as well as online resources such as Entrepreneur.com and MarketingTeacher.com. It is intended for publication on Desklib, which provides past papers and solved assignments for students.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key roles and responsibilities of marketing function............................................................1
P2 Interrelation of marketing roles and responsibilities to wider organisational context...........3
M1 Roles and responsibilities of marketing................................................................................5
M2 Importance of interrelationship between marketing and other functions.............................5
D1 Critical analysis of key elements of marketing function & their interlink with other units..6
TASK 2............................................................................................................................................6
P3 Application of marketing mix in marketing planning process to attain business objectives.6
M3 Evaluate tactics applied by firm to attain objectives............................................................8
P4 & M4 Develop and evaluate basic marketing plan................................................................8
D2 Marketing plan with 7P's to attain objectives......................................................................12
CONCLUSION .............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
In today's competitive world, marketing is identified as a most essential tool which highly
contributes in growth and long term sustainability of company. It involves several activities such
as market analysis, identify needs and requirements of consumers, maintaining good customer
relationship, development of strategies, administer information regarding goods and services of
firm etc. Marketing functions highly assists in promoting products and services in market and
communicate its value and benefits to customers (Berkowitz, 2016). This concept assists in
fulfilling needs & demands of customers in more better and effective manner. By using this
process, business creates value for potential consumers and maintain good relationship with
them. In the present assignment, chosen organisation is Cadbury which is a British confectionery
company. Firm is known for its delicious chocolates which it offers worldwide. This assignment
covers roles and responsibilities of marketing and its relationship with other organisational
functions. It also includes the ways in which firm use marketing mix elements to attain overall
business objectives as well as basic marketing plan is developed and evaluated in this project.
TASK 1
P1 Key roles and responsibilities of marketing function
Marketing is one of the fundamental function of every organisation which assists in
promoting goods and services in marketplace in an effective and efficient way. It includes
various activities which supports business in attaining high growth. Various functions of a
company are interlinked with marketing which includes human resource management,
distribution system, sales support system, marketing research, product development, strategy
management etc. All these functions plays important role in promoting growth to business
organisation. Major duties and responsibilities of marketing includes pricing, promotion,
product, selling, marketing information system, distribution and financing (Functions of
Marketing, 2017). In Cadbury, major roles & responsibilities of marketing are defined below:
Product: These are tangible goods that are offered by company to its potential customers
in order to satisfy them. Marketing function plays vital role in developing such products that best
meets needs and demands of customers. In Cadbury, marketing manager analyse market trends,
attitudes, behaviour of consumers and collect informations regarding their taste and preferences
so that required features can be added to product. It assist firm in developing chocolates
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according to taste of customers. By this, firm enables to attract large group of consumers and
attain high sales.
Selling: It is an essential role of marketing under which all the data and information are
collected and analysed by various tools so that effective strategies can be formulated.
Implementation of such strategy assist in increasing sales of firm's product. Manager of Cadbury
frame appropriate plans in order to boost up sales of chocolates. Various distribution tools are
also analysed and used to make their goods available to target customers. Main aim of this
function is to cover overall cost that is incurred in production of products by selling them to
customers (Blythe, 2012).
Pricing: It is one of the essential component on which sales of goods rely. Organisations
charge some amount in turn of providing goods to consumers. They set effective prices of
products in order to gain attention of large group of customers. In Cadbury, managers analyse
competitors pricing strategy and then set prices of product accordingly. It assists them in
generating more sales as well as profits and attracting large group of customers. They ensure to
set right prices of product so that more products can be sold in market.
Promotion: It is one of the major and significant function of marketing which assists in
stimulating sales of company's products. Various promotional tools are used by firms in order to
communicate value and benefits of products to customers and make them aware about it.
Personal selling, public relation, advertisement, sales promotion etc. are some promotional tools
that are used by administrator of Cadbury in order to effectively promote its products in market
place. It facilitates company in generating more demand of product by encouraging customers to
buy it.
Financing: It is an important component which assists in smooth running of firm's
operations as without adequate finance, no business can operate. Availability of appropriate
funds assists manager in developing effective marketing plan. It facilitates in carrying out
marketing activities in proper way (Brassington and Pettitt, 2013). Managers of Cadbury arrange
funds from various sources and ensures that adequate funds are maintained within firm so that all
the activities are carrying out in appropriate way and on right time. It helps in developing
effective marketing plans and strategies for promoting product.
Distribution: It includes transfer of goods and services from one place to another so that
it can be reach to final customers. Various distribution channels are used by firms in order to
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make their goods available for purchases. In Cadbury, managers use effective distribution
channels that covers all areas where product needs to be distributed. Those channels are used
which ensures delivery of product on time as well as save cost of firm. Right selection of
distribution channel helps to deliver goods on time (Cavusgil and et. al., 2014).
Marketing information system: In this, information regarding needs, taste, behaviour and
preferences of customers are collected by manager. Marketing information system administers an
opportunity to store all the gathered data in sequential way. This makes the process of decision
making easy for mangers of Cadbury and enables them to take effective decisions. It facilitates
company in creating large consumer base and gaining competitive advantage in market.
Above mentioned are all the roles & responsibilities of marketing function that needs to
be carried out by manager of Cadbury in effective way so that sales and profitability of company
can be enhanced and targets can be achieved.
P2 Interrelation of marketing roles and responsibilities to wider organisational context
Marketing is one of an important departments of firm which highly contributes in its
growth and success. It assists in creating awareness among people regarding goods and services
of company and helps in enhancing brand image. Activities and actions of marketing functions
are highly linked with several other departments of company (Cooper, 2013). This is the
function by which firm can easily boost up its sales and accomplish set targets and objectives in
effective way. Managers needs to be considered interrelationship of marketing department with
others functions of an organisation which can be understand by below mentioned points:
Marketing and operations department:
Operations department is concerned with process of manufacturing of products and
services. High quality goods are produced by making optimum utilization of resources in cost
effective manner. Activities of operations department are highly interrelated with marketing
function. Marketing managers analyse market trends and gather information regarding
preferences and needs of customers. This collected information is provided to operations
department by marketing manager so that goods can be developed according to that and needs of
customers can be satisfied in better manner. All this data helps operations manager of Cadbury in
making effective decisions regarding production process.
Finance and marketing department:
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In order to run day to day operations of business successfully, finance is required.
Without adequate finance, no activities can run in appropriate way. It is the department which
allocates budget and assigned funds to various departments. Activities of marketing requires high
amount of funds so, it is necessary that firm should have adequate finance. In Cadbury,
coordination between marketing and finance department assists in carrying out all the
promotional activities in proper way (Jones and Rowley, 2011). Finance and marketing
department are interrelated with each other as activities of one department can not be carried out
without other.
Human resource management and marketing:
The department of human resource management is concerned with hiring and selection of
individuals who are capable to attain goals and targets of company. For this, they needs to make
proper advertisement of vacant job position of company. In this, marketing department plays
crucial role. They make effective advertisement regarding vacant job position of firm so that
people who seek job can be aware about it. With the help of marketing department, human
resource department communicate to perspective candidates about job position so that they
enable of fill application in order to get that job.
Research & development and marketing:
In present competitive market, needs and preferences of consumers are changing
frequently. In order to maintain position in market and attain high profits, it is crucial for
company to develop products according to the needs of customers. In this, research and
development department plays vital role. Managers of this department conduct research and
collect information regarding needs of market (Lilly, 2013). This helps company in developing
products that assists in satisfying needs of customers in more better manner. Further, it assists
marketing manager in determining those areas that needs to be emphasize on to attract
consumers more.
Sales and marketing department:
Activities of marketing and sales department are interrelated with one another. In order to
stimulate sales of goods and services of company, marketing manager use various
communication tools and techniques which assists in encouraging customers to buy products. It
assists in communicating about benefits of products to customers. Effective marketing helps in
interacting with customers and maintaining good relations with them. All this ultimately
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increases sales of company and attaining targets of firm. It also ensures sustainability of firm in
market for long term (Malhotra, Birks and Wills, 2013).
Information technology and marketing department:
IT department is concerned with several software and technologies used by firm for
storing all the informations regarding products, customers, sales activities etc. This assists in
attaining commercial targets of company. Technology renders an opportunity to organisation to
interact with consumers and gather all informations related with them. Use of high end
technology in activities of business assists in improving efficiency of business processes and also
saves time as well as cost of firm. This collected information is used by marketing managers in
making effective decisions.
All the above mentioned are various functions of Cadbury which are highly interlinked
with marketing department that assists in accomplishing targets and objectives of company.
Manager needs to ensure that proper coordination is maintained among them so that all the
activities of firm can be effectively implemented and targets can be attained.
M1 Roles and responsibilities of marketing
Marketing function play various roles and responsibilities in attaining predetermined
objectives of firm. Various promotional tools are used by company in order to aware customers
about their goods and communicate them all the benefits of that products. Marketing managers
analyse market trends to that such product can be developed which satisfy needs of clients in
better manner (Mihart, 2012). It highly contributes in growth and success of company.
M2 Importance of interrelationship between marketing and other functions
It is very essential that a proper coordination should be maintain among marketing and
other departments so that business objectives can be attained. Interrelationship between different
departments supports in performing all the activities of firm in better manner. Function of
marketing is very important in order to enhance profits and sales of company in an cost effective
and efficient manner.
D1 Critical analysis of key elements of marketing function & their interlink with other units
As per the view point of Papasolomou and Melanthiou, 2012, marketing function
administers an opportunity to business concern to effectively communicate with customers and
make them aware about their goods. Key components of marketing function includes planning,
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strategy formulation, research etc. All these elements facilitates firm in accomplishing goals in
effective way.
TASK 2
P3 Application of marketing mix in marketing planning process to attain business objectives
The elements of marketing mix includes product, place, promotion, price, people,
physical evidence and process. All these components helps firm in providing right product at
right time and place. Application of marketing mix assists managers in taking effective decisions
regarding prices, promotion and other aspects. So, it is required by manager to use all the
elements of marketing mix in effective way so that sales target can be achieved and more profits
can be earned (Marketing Mix, 2016). In order to accomplish goals and targets of company,
Cadbury use this concept. They applied marketing mix in planning process which can be
understand by following points:
Basis Cadbury Hersheys
Product Cadbury offers range of tempting
chocolates to customers all over the
world. Their products includes five star,
dairy milk, borunville, eclairs, perk, oreo
etc. Apart from this, Bournvita is one of
their product which is very popular
among children and even adults. Firm is
market leader in this product. With all
such goods, company leads the entire
chocolate industry. Cadbury is one of the
leading firm and well known among
people for its delicious chocolates.
The firm offers sweet syrups and
chocolates to their customers and is
also one of the well known brands.
Variety of products are provided by
company in distinct shapes and size.
Innovation in products facilitates in
attracting more customers and
yielding high profits. Their chocolates
are healthy and delicious (Peter and
Donnelly, 2011).
Price To being on top, some products of
company needs continuous marketing
efforts such as oreo. As their quality of
products are high, prices are also more.
Hersheys use premium pricing
strategy in setting price of their
products. Their chocolates prices are
high as compared to other brands.
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Prices of some goods are reasonable also.
For instance, prices of eclairs and five
star is low with high quality taste. Range
of products are provided by company and
price of each is distinct as per the type of
consumer (Shaw and Director, 2012).
Their main target is people of upper
middle class and prices of chocolates
vary from $10 to $60.
Place Cadbury offer its products worldwide.
Their products are distributed in all the
areas but, because of low demand in rural
areas, their marketing in such areas is
weak. Currently, company covers
approximately 200 countries and because
of large channels of distribution, their
distribution costs are high. Presence of
firm in market is strong as their products
are easily available at almost all the
shops of cities and towns.
Their products are mainly available on
large grocery stores. Effective
distribution channels are used by
company in order to supply their
products worldwide. Major cities &
areas of various countries are covered
by them which ensures easy
availability of their product.
Promotion Cadbury use different promotional
strategy in order to promote their product
effectively in market. For instance,
bournville is not buy by an individual, but
they get it form others. Celebrations pack
of Cadbury is used by people for the
purpose of gifting so, it is positioned by
firm as that. It is one of the most selling
popular product. Bournvita is positioned
as health drink. Company use mix of
above and below the line marketing.
Their marketing is very effective and it is
the main reason of high brand recalling of
Harsheys promote their product by the
assistance of television adds,
magazines and billboards. Main aim
of company is to produce healthy and
tasty chocolates so, people can enjoy
it. One of the product of company,
Milk booster positioned as healthy
good for kids (Wilson,2015).
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firm. Before purchasing chocolate,
individual first thinks about Cadbury.
People Manpower is the one which facilitates
company in attaining predetermined gaols
and targets of company. Employees, by
their effective skills and knowledge
contributes in success of company (Silver
and et. al., 2012).
Firm have skilled and competent
manpower which supports in bringing
innovation in products and offer
chocolates to customers with new as
well as different taste.
Process Effective and easy process is followed by
firm for manufacturing products. They
user high end technology for producing
high quality chocolates and offering them
to customers.
They followed sequential procedure in
manufacturing chocolates. Latest
technology machineries are used by
firm for making good quality
chocolates.
Physical
Evidence
Firm gather and store relevant data from
customers which assists them in
producing and offering chocolates as per
their taste and preferences in better and
effective manner.
Various efforts are made by company
in order to make their product
attractive and people encourage to buy
it more.
M3 Evaluate tactics applied by firm to attain objectives
Tactics are the actions made by firm in order to attain its final objectives and targets.
Company use effective pricing and promotional strategies in order to more attention of
customers towards the brand. Marketing manager apply different tactics that assists them in
increasing their sales and profits (Wirtz, 2012).
P4 & M4 Develop and evaluate basic marketing plan
Marketing plan refers to a detailed document which includes all the activities related to
marketing and advertising that firm have to follow for upcoming year. Implementation of this
plan ensures attainment of defined objectives on time. This plan depicts about current market
position of business and determines its future position. With increase flexibility of this function,
marketing plan becomes informal. The plan is initiated with determination of final consumers &
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is done with assistance of market research. Various ways are also identified by manager in order
to fulfil needs and requirements of customers in better as well as effective manner. Sales
forecast, budget formulation, development of strategies, market situation analysis are all the
factors which are considered in formulation of marketing plan. It is a tool that supports business
entity in utilizing resources in best possible manner and attaining objectives of company (How to
Create a Marketing Plan, 2013.
Overview of company:
Cadbury is one of the well known company which deals in confectionery products.
Variety of goods are offered by firm such as drinks, chocolate bars etc. It was established in
1824 and is located in Birmingham, United Kingdom. Many people are employed by Cadbury
which assists in providing effective goods to customers.
Vision of Cadbury:
Vision statement of company depicts about to good image of company in future. Main
feature of this statement is that it convey about both value and purpose of firm. It administers
direction to workforce to perform their roles in effective manner as well as encourage them to
work in proper manner. “Work collectively to develop the brand that are loved by people” is the
vision statement of Cadbury.
Mission of Cadbury:
Mission statement of firm depicts about main objectives and purposes for the existence of
firm. In this, strategic planning is done by firm for deciding goals and objectives of company.
“Cadbury means promise by firm for its quality. Company's reputation is developed on quality of
product” is the mission statement of enterprise. Constant improvements in chocolates is the
commitment of company (Wirtz, Chew and Lovelock, 2013).
Goals and objectives:
Objectives are the main purposes that a firm wants to attain in specific period of time. To
become the world's largest & best confectionery company is the goal of Cadbury. Firm execute
its activities in more effective manner than its rivals.
In order to frame effective marketing plan, it is necessary for administrator to have
detailed information regarding mission and mission of business as it defines about the future
position of company and what it wants to attain. Apart from this, objectives and goals should be
clearly defined so that these can be fulfilled in defined period of time. They needs to conduct
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SWOT analysis so that strengths, weaknesses, threats and opportunities can be known by firm. It
assists in gaining competitive edge in market.
SWOT Analysis of Cadbury:
Strengths: The major strength of Cadbury is that it is a leader of chocolates in all over
the world. Their effective distribution channel ensures its presence in around 200 countries. The
firm has strong product portfolio as they offers range of products to customers (Jones and
Rowley, 2011). Company enjoy high customer loyalty towards all its products and because of
this reason, firm can charge high prices. Apart from this, their promotional activities are very
effective and the tag line of firm “ kuch meetha ho jaaye” assists in attracting more customers
towards the brand.
Weakness: Rural marketing of firm is very weak due to which goods can not be supplied
in proper way in rural areas. Various cases related to product quality takes place in which
cockroaches are found in their chocolates.
Opportunities: One of the huge opportunity that firm have is to penetrate on rural market
and convert its weakness into opportunity. It will assist in boosting up image of their brand. By
providing chocolates with new flavour and taste and bringing innovation in goods, firm can
attain large base of consumers.
Threats: Customers are becoming more health conscious which is a big threat for
company. Today, many people prefer to drink healthy drinks and eat fruits more so that they stay
fit. They avoid to eat chocolates due to this reason. Because of increase in price, firm lose its
market share (Lilly, 2014).
STP of Cadbury:
Segmentation: It is the process in which firm divide its market into small sub groups.
Cadbury segmentation includes impulse segment, take home segment and break segment.
Targeting: In this, consumers are targeted and products are distinguished according to
their class. Target customers of Cadbury is people of every age group.
Positioning: Tag line of company “Real taste of India” defines positioning of goods.
Marketing strategy:
Firm use various marketing strategies in order to enhance its sales and profits. They
encourage people to buy their products more (Malhotra, Birks and Wills, 2013). They modify
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their products as per the taste and preferences of customers which will assists firm in attaining
increased growth by 20% yearly.
Marketing budget:
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Initial money £7000 £9500 £8700 £16000 £24000
Investment £15000 £21000 £33000 £10000
Total £7000 £24500 £29700 £49000 £34000
Marketing outlay
Promotion £1500 £2000 £2500 £3000 £4000
Sales publicity £500 £500 £500 £1000 £700
Direct selling £1000 £2500 £4000 £2000 £3000
Total £3000 £5000 £7000 £6000 £7700
Execution:
In this step, plan is implemented by manager in order to attain goals and objectives of
company (Berkowitz, 2016).
Evaluation:
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In this, managers monitor and evaluate the plan after implementation. They examine all
the tools to determine its effectiveness.
D2 Marketing plan with 7P's to attain objectives
Marketing plan is defined as a detailed document that includes all the informations
related to activities of marketing. Application of various components of marketing mix facilitates
managers in setting right price of product (Blythe, 2012). It also assists in promoting products
effectively by using appropriate promotional tools. This will helps in encouraging people more
towards the brand.
CONCLUSION
As per the above mentioned report, it has been concluded that marketing is an important
function on which success and growth of firm depends. It includes various activities that helps
firm in promoting their products effectively. There are various roles and responsibilities of
marketing function which helps in promoting growth of company. Marketing is interlinked with
various other functions which supports in successful attainment of goals and targets of company
in specified period of time. It is required by manager to formulate effective marketing plan so
that benefits and value of products can be effectively communicated to customers. It provides
direction to managers in their future course of actions.
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REFERENCES
Books and Journals
Berkowitz, E. N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
Blythe, J., 2012. CIM Coursebook Marketing Essentials. Routledge.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Cavusgil, S. T. and et. al., 2014. International business. Pearson Australia.
Cooper, C., 2013. Essentials of tourism. Pearson Higher Ed.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Lilly, M. C., 2014. Content marketing essentials for small business. London: Create Space
Independent Publishing Platform.
Malhotra, N. K., Birks, D. F. and Wills, P., 2013. Essentials of marketing research. Pearson.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: effects
on consumer decision–making process. International Journal of Marketing Studies.
4(2). p.121.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Peter, J. P. and Donnelly, J. H., 2011. Marketing management: knowledge and skills: text,
analysis, cases, plans. Plano: Business pub., INC.
Shaw, M. and Director, M. S., 2012. The state of social media. Comscore, Online Marketing
Institute.
Silver, L. and et. al., 2012. The essentials of marketing research. Routledge.
Wirtz, J., 2012. Essentials of services marketing. FT Press.
Wirtz, J., Chew, P. and Lovelock, C., 2013. Essentials of Service Marketing 2nd.
Online
How to Create a Marketing Plan. 2013. Available through:
<https://www.entrepreneur.com/article/43018>.
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7 Functions of Marketing, 2017. [Online]. Available through:
<http://smallbusiness.chron.com/functions-marketing-business-32399.html>.
Marketing Mix. 2016. [Online]. Available through:
<http://www.marketingteacher.com/marketing-mix/>.
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