Roles and Responsibilities of Marketing Function in Lloyds Bank

Marketing essentials

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Key roles and responsibilities of marketing function.............................................................3
Roles and responsibilities of marketing department in marketing environment....................4
Roles and responsibilities of marketing relate to the wider organisational context...............5
TASK 2............................................................................................................................................7
Comparison of marketing mix of different organisation........................................................7
TASK3...........................................................................................................................................10
Basic marketing plan for an organisation.............................................................................10
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
Marketing is referred as the examination which helps in directing, controlling and
managing the relation among customer and business in order to enhance value of company and
increase customer satisfaction. Marketing function help the organization in attracting customer
and promote their service and product in the market. The company taken for this report is Lloyds
bank, which is the leading retail banking in UK (Brassington and Pettitt, 2012). It provides
banking and financial services such as loan, ,mortgage, credit card, saving account, current
account and many more services to their customer. This report includes the marketing function
and significance of interrelationship of marketing department with other functional departments.
Further this report includes a marketing plan of newly launched service of Lloyds banks. I have
appointed in Lloyd as a trainee marketing manager, and I was about to analyse the company so
as to find out their market position and further to submit this report to line manager so as to make
any required changes.
TASK 1
Key roles and responsibilities of marketing function.
The department of marketing is accountable for those roles and responsibility which are
helpful in achieving organisational goals. Marketing department is required to put effort in order
to enhance brand image for longer period. Lloyds bank posses an efficient department of
marketing that execute various function in a considerable manner due to which company is able
to enlarge their business in various country with non hurdles and greater sustainability. The roles
and responsibilities of department of marketing are explained below:
Define strategic marketing plans: A strategic marketing plan is a written document that
entails strategies, plan of actions and objectives made by marketing department about the
running project. The strategic marketing plan is advantageous to all the employees and
stakeholder of the company so as to prepare marketing plan of action to market the product or
service. Department of marketing for Lloyds are also making marketing plan in respect of
strategies adopted by the organisation and seeking for superior authority in order to fulfil
customer's requirements (Groucutt and Hopkins, 2015).

Social media monitoring: This function is performed by marketing department so that to
trace individual's behaviour and perception with the help of social media for example: Instagram,
Twitter and Facebook etc. Lloyds manger uses this method to monitor so by uploading videos
and then taking feedbacks from customers. Along with this they works for search engine
optimisation and social media advertisement in order to attract customer and making them aware
about services and products of Lloyds bank.
Development of promotional strategies and campaigns: This role of arranging
promotional programmes and create promotional strategies is also held by marketing department
in order to attract target customer and to capture larger public with awareness of their brand. This
role is executed by marketing manager of Lloyds in that they plan campaigns in order to examine
need of customers. Lloyds banks also emerged with use of social media as to promote their brand
for this purpose they take feedbacks from customer on online platform and generate awareness
about the services and product offered by them and their brand as well.
Roles and responsibilities of marketing department in marketing environment
Marketing department executes numerous roles and responsibilities in order to make their
organisation successful and to provide product or services satisfaction to their customers.
Marketing department of Lloyds bank is accountable for executing various roles so that to get
competitive edge in the market and to assist the business as per the market conditions in order to
stay ahead from the competitor. Some roles and responsibilities of marketing department in the
marketing environment is as under:
Defining and managing your brand: This role inculcates the vision, mission and aims
of the company as along with brand positioning in the market and offerings of products by the
company to their customers. Acquiring this knowledge is necessary for the manager of Lloyds in
order to attract more customers and to add more value to the company. This will add
sustainability in the working of Lloyds bank and continual arrangement of campaigns help in
enhancing brand image and customer experience so that they do not go to any other bank for
acquiring services (Jobber and Chadwick, 2012).
Conducing customer and market research: This is the role which is also executed by
marketing department in order to recognise needs of customers by managing market research.
Market research is helpful in recognising need and demand of the customer in respect of