(Doc) Marketing Essentials Assignment Solution
Added on 2020-09-17
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Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of marketing function............................................................1P2 Interrelation of marketing roles and responsibilities to wider organisational context...........3M1 Roles and responsibilities of marketing................................................................................5M2 Importance of interrelationship between marketing and other functions.............................5D1 Critical analysis of key elements of marketing function & their interlink with other units..6TASK 2............................................................................................................................................6P3 Application of marketing mix in marketing planning process to attain business objectives.6M3 Evaluate tactics applied by firm to attain objectives............................................................8P4 & M4 Develop and evaluate basic marketing plan................................................................8D2 Marketing plan with 7P's to attain objectives......................................................................12CONCLUSION .............................................................................................................................12REFERENCES .............................................................................................................................13
INTRODUCTIONIn today's competitive world, marketing is identified as a most essential tool which highlycontributes in growth and long term sustainability of company. It involves several activities suchas market analysis, identify needs and requirements of consumers, maintaining good customerrelationship, development of strategies, administer information regarding goods and services offirm etc. Marketing functions highly assists in promoting products and services in market andcommunicate its value and benefits to customers (Berkowitz, 2016). This concept assists infulfilling needs & demands of customers in more better and effective manner. By using thisprocess, business creates value for potential consumers and maintain good relationship withthem. In the present assignment, chosen organisation is Cadbury which is a British confectionerycompany. Firm is known for its delicious chocolates which it offers worldwide. This assignmentcovers roles and responsibilities of marketing and its relationship with other organisationalfunctions. It also includes the ways in which firm use marketing mix elements to attain overallbusiness objectives as well as basic marketing plan is developed and evaluated in this project. TASK 1P1 Key roles and responsibilities of marketing functionMarketing is one of the fundamental function of every organisation which assists inpromoting goods and services in marketplace in an effective and efficient way. It includesvarious activities which supports business in attaining high growth. Various functions of acompany are interlinked with marketing which includes human resource management,distribution system, sales support system, marketing research, product development, strategymanagement etc. All these functions plays important role in promoting growth to businessorganisation. Major duties and responsibilities of marketing includes pricing, promotion,product, selling, marketing information system, distribution and financing (Functions ofMarketing, 2017). In Cadbury, major roles & responsibilities of marketing are defined below:Product: These are tangible goods that are offered by company to its potential customersin order to satisfy them. Marketing function plays vital role in developing such products that bestmeets needs and demands of customers. In Cadbury, marketing manager analyse market trends,attitudes, behaviour of consumers and collect informations regarding their taste and preferencesso that required features can be added to product. It assist firm in developing chocolates1
according to taste of customers. By this, firm enables to attract large group of consumers andattain high sales. Selling: It is an essential role of marketing under which all the data and information arecollected 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 Cadburyframe appropriate plans in order to boost up sales of chocolates. Various distribution tools arealso analysed and used to make their goods available to target customers. Main aim of thisfunction is to cover overall cost that is incurred in production of products by selling them tocustomers (Blythe, 2012). Pricing: It is one of the essential component on which sales of goods rely. Organisationscharge some amount in turn of providing goods to consumers. They set effective prices ofproducts in order to gain attention of large group of customers. In Cadbury, managers analysecompetitors pricing strategy and then set prices of product accordingly. It assists them ingenerating more sales as well as profits and attracting large group of customers. They ensure toset 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 instimulating sales of company's products. Various promotional tools are used by firms in order tocommunicate value and benefits of products to customers and make them aware about it.Personal selling, public relation, advertisement, sales promotion etc. are some promotional toolsthat are used by administrator of Cadbury in order to effectively promote its products in marketplace. It facilitates company in generating more demand of product by encouraging customers tobuy it. Financing: It is an important component which assists in smooth running of firm'soperations as without adequate finance, no business can operate. Availability of appropriatefunds assists manager in developing effective marketing plan. It facilitates in carrying outmarketing activities in proper way (Brassington and Pettitt, 2013). Managers of Cadbury arrangefunds from various sources and ensures that adequate funds are maintained within firm so that allthe activities are carrying out in appropriate way and on right time. It helps in developingeffective marketing plans and strategies for promoting product. Distribution: It includes transfer of goods and services from one place to another so thatit can be reach to final customers. Various distribution channels are used by firms in order to2
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