Role of Marketing Function in Business Development

The provided document is a report on the importance of marketing functions in business development. It outlines various roles and responsibilities performed by marketing, including market research, product development, sales support, communication, etc. The report also discusses the relationship between marketing and other departments such as finance, human resource, operations, and research and development. Key elements of marketing function are identified as research, strategy, planning, and tactics.

MARKETING
ESSENTIALS
(PROJECT 1)

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Key roles and responsibilities of marketing function............................................................1
1.2 The roles and responsibility of marketing to wider organisational context...........................2
1.3 Role and responsibilities of marketing..................................................................................4
1.4 Interrelationship between marketing and other functions.....................................................4
1.5 Key elements of marketing function......................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing plays an important role in the functioning of the organizations. It helps in
assessing the requirement of the products in the market further concentrating on the taste and
preferences of the customers as well. A comprehensive discussion will be made on roles and
responsibilities a marketing department have to perform in relation with other departments in the
organization. Further, the discussion will move towards the marketing role in ABC company.
Moreover, roles and responsibilities of marketing will also be discussed in order to make the
discussion concrete and reliable. In the end, the focus will be shifted to key elements of
marketing functions such as, research, strategy, planning and tactics.
1.1 Key roles and responsibilities of marketing function
Main aim of any firm is to gain maximum profit. This is only possible when they are able
to understand the roles and responsibilities in effective manner. It is important for the business to
make sure that appropriate strategies are applied so that positive perception can be developed
(Fritz, 2013). Marketing is determined to be the effective function that helps to provide adequate
answers to customers about the products and services that are delivered by the firm. Below given
are the roles and responsibilities of marketing function:
 Market research: With time, there are many changes that take place in relation with the taste
and preference of customers. Further, there are firms that deliver their customers with similar
set of products and services. It is important to make sure there are frequent market research
conducted so that they are able to understand the need and requirement of customers and
appropriate steps are taken to fulfil them. Further, it is helpful to identify the market
opportunities and to gain better understanding about the wants of customers. In addition to
this, there are different set of strengths and weakness of companies and with the help of
market research it is helpful to determine the areas (Craft and Hassan, 2015).
 Product development: According to one of the function of marketing, they also work with
external and internal product development team. The main role of these area is to develop a
new product or services so that the rate of sales and profitability can be raised. Marketing
department make analysis of the performance that is made by existing products and services
and focus on identifying the gap and provide this information to product development team
and this is way they are able to make improvement in the products and services. In addition
to this, marketing team have direct interaction with customers and so they know better about
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the issues or problems that are faced by them. This way, marketing department is highly
helpful to improve the sales and profitability.
 Communication: With time, there are many changes that has taken place and the team make
use of effective communication sources so that they are able to have proper interaction with
customers (Malhotra, 2015). Further, there are different type of services, products of
promotional activities that are applied so that more and more customers can be attracted. It is
important for the business to make sure that there are proper strategies are applied so that the
rate of sale performance can be improved. Further, for each of the activities it includes cost
and it is important to make sure that they are able to perform the set of roles in effective
manner.
 Sales support: When there is proper coordination among marketing department and sales,
then it is effective enough to sales performance and also increases the business growth.
Further, it is also effective to provide high quality of services as it makes sure that
promotional strategies in which it includes discount offer, free gifts, etc. However, it required
to have proper coordination with each of the sales person so that all the aspects can be
covered in effective manner. One of the effective source is to make use of social media as
this enables to provide direct interaction with customers. Further, it also provides with the
opportunity to know the issue or problems that are faced by each of the service users
(Kongstvedt, 2012).
 Events: There are different set of activities that are applied by the business in which it
includes events like exhibition in which people are able to understand the requirement and
they are also able to clarify all their doubts that they have in relation with the products.
Further, they are able to make changes in the products and services so that the rate of quality
can be improved in effective manner.
 Strategies: Marketing enables provide proper information in relation with improving the
quality of service and in developing positive perception within the mind of customers. It is
important for the business make use of appropriate strategies so that more and more
customers can be attracted and the rate of performance can be improved. It requires to have
effective coordination among employees so that they work together with common goal (Cant,
2010).
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1.2 The roles and responsibility of marketing to wider organisational context
Marketing is the process of making the availability of the product in the potential market
and encouraging people to purchase those company products. Marketing plays significant role in
the organisation because with the help company can easily increase the sales of its products.
Marketing helps the ABC to grow further and become the wide organisation. Roles and
responsibilities of the marketing of the company helps company to select the price of the
product, how to serve and manage the product, where to distribute the product, how to finance
the product, how and where to sell the product and how to promote their product (Parlan,
Kusumawati and Mawardi, 2016). This make the company a wider organisation, just like the
ABC company.
The company works very hard to fulfil the roles and responsibilities of marketing which
makes them very good and wider organisation. Business entity is made if various department
which have their own organisational function in respect to attain goals and objective. The
organisation has different departments such as human resources management, sales etc. The
different roles and responsibility of ABC are as follows:
 Sales and operational department: Sales and operational department play significant roles s
it provides best and quality product to customer and increase the sales of the firm (da Silva,
and Las Casas, 2017). Role of marketing department is to conduct research and understand
the taste and needs of customer. After this it provides information to operational department
so that product can be modify accordingly (Shah and Mujtaba, 2016.). Further, marketing
department promotes the product and services with the help of different social networking
sites such as Facebook, twitter and other. Through the help of this company can easily
increase the sales as well as profit. Marketing department also help in identifying the taste
and preference of customer so that company can easily modify their company product and
services. Here it can be stated that marketing department play significant role and it has
relationship with sales and operational department.
 Finance department: The role of the finance department is to provide finance to operational
department and marketing department so that they can carry out their day to day activities
(Telang and Deshpande, 2016). This department is mainly responsible for providing funds to
different departments. There are different types of strategies which are designed by the
marketing department on the basis of funds which are provided to them by finance
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department. Finance and marketing are the two-strong pillar of the firm on which growth and
profit of the company is depended. The finance department is concerned with all the aspects
such as profit, financial performance etc. The financial department also make sure that all the
business activities which are carried out marketing department is according to budget or not
(Parlan, Kusumawati and Mawardi, 2016). At last it also makes sure that unnecessary
expenses can be avoided so that company not suffer from any type of loss. Therefore, it can
be stated that marketing department is related to with finance department.
 Human Resource department: Marketing department is directly linked to human resource
department as based upon the requirement of the sales executives, new employees are hired
by the department. Further, requirement of product manager, event coordinator and activities
organizers are hired according to the necessity arising in the marketing department (Wirtz,
2012).
 Research and development: This department tends to organize market research and
communicate regarding the requirement of the company is different regions. Based on the
results of the research the marketing plan is developed by the department which helps in
better attainment of the goals. It also helps in reducing the extra efforts of the marketing that
could have been put if the activity was not performed by the research department (Germain
and McGuire, 2014).
1.3 Role and responsibilities of marketing
The main responsibilities of marketing includes the following:
 Increasing the customer base with the aim to increase market share.
 Increasing the sales of the organization in order to earn higher profits.
 Tapping large amount of people and bringing them to sales leads (Moran and Hunt,
2014).
 Develop advertising strategy to achieve organizational objectives
 Appropriate use of available media such as, TV, radio, social media platform etc.
 Coordinating the activities of marketing campaign and organizing sales activities in
potential geographical areas.
ABC has an attractive market base where it attracts the customers through value for money
products. It has cleverly been able to tap children segment of various regions by offering happy
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meals to them. Appropriate marketing activities have helped to increase the customer base to a
great extent.
M1
Mc Donald’s have been able to build its brand name. It opts for various advertising methods
which can ultimately increase the overall reach to the customers. Hence, medias are, TV, radio,
newspaper, social media marketing, newspaper, youth festivals and events etc.
1.4 Interrelationship between marketing and other functions
Marketing and Production: The production function of the organization is directly related
to marketing. As per the demand established, production of different products is performed by
the department.
Marketing and Finance: Based upon the requirement of finance, the budget for marketing
department is decided. ABC increases the marketing budget of the region which require more
advertising to avail benefits (Dibb and Simkin, 2013).
Marketing and Research: The research and development department of the organization tends to
find out the crux of the issues being faced by the marketing team in tapping the customers.
M2
Mc Donald’s, having various franchisee all over the world, is responsible to maintain an
effective interrelationship between all the functions. Hence, marketing and production is
maintained based on the demand available for the food products. Further, relationship between
marketing and research is maintained so that only those places are tapped for marketing which
has higher demand.
1.5 Key elements of marketing function
The key elements of marketing function are:
Research: Appropriate amount of research is required to be followed in order to find out most
beneficial area for the company. ABC tend to place it store where cost of the people gets to see
the store.
Strategy: Strategizing in such a manner that highest amount of benefits is received through
minimum input of resources. ABC make the best possible use of the resources to extract the
highest benefits (Erez and et.al., 2013).
Planning: It is important for the company to plan before taking any actions as it helps in
delivering the best to the client.
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Tactics: Appropriate tactics so that majority of the customers get attracted towards the company.
D1
Mc Donald’s have been involved in step by step procedure so as to incorporate all types
of marketing functions for effective and productive results. In such cases, the management
research all the important aspect then prepare strategy based on it. After it, it is involved in
planning phase of the research as well so that effective tactics can be prepared.
CONCLUSION
Based on the above report, it can be concluded that, marketing plays an important role in the
development of the organization. The project has outlined various roles and responsibilities that
are performed by marketing function. These activities include, market research, product
development, sales support, communication etc. These are the basic functions of market which
helps in benefitting the operations of the business. The report then discussed, key roles and
responsibilities of the marketing and its direct relation to other departments of the company such
as, Finance, Human resource, operations, Research and development etc. Further, it can be
interpreted that the key elements of the marketing function of an organization are, research,
strategy, planning and tactics. In the end, there is a strong relationship between finance and
marketing department where different types of strategies which are designed by the marketing
department on the basis of funds which are provided to them by finance department. Further,
requirement of more funds is also communicated to the finance department by the marketing
department.
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REFERENCES
Books and journals
Cant, M., 2010. Essentials of marketing. Juta and Company Ltd.
Craft, S. H. and Hassan, S. S., 2015. Global consumer market segmentation strategy decisions
and managerial assessment of performance. In Revolution in Marketing: Market Driving
Changes. Springer International Publishing.
Dibb, S. and Simkin, L., 2013 Marketing essentials Cengage Learning.
Erez, M. and et.al., 2013. Going global: Developing management students' cultural intelligence
and global identity in culturally diverse virtual teams. Academy of Management Learning
& Education, 12(3). pp. 330-355.
Fritz, W., 2013. Internet-Marketing und Electronic Commerce: Grundlagen—
Rahmenbedingungen—Instrumente. Springer-Verlag.
Germain, M. L. and McGuire, D., 2014. The role of swift trust in virtual teams and implications
for human resource development. Advances in Developing Human Resources, 16(3). pp.
356-370.
Kongstvedt, P.R., 2012. Essentials of managed health care. Jones & Bartlett Publishers.
Malhotra, N.K., 2015. Essentials of marketing research: A hands-on orientation. Essex: Pearson.
Moran, M. and Hunt, B., 2014. Search Engine Marketing, Inc.: Driving Search Traffic to Your
Company's Website. IBM Press.
Wirtz, J., 2012. Essentials of services marketing. FT Press.
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