Role of Marketing Function in Business Development
Added on 2020-07-22
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MARKETINGESSENTIALS(PROJECT 1)
Table of ContentsINTRODUCTION...........................................................................................................................11.1 Key roles and responsibilities of marketing function............................................................11.2 The roles and responsibility of marketing to wider organisational context...........................21.3 Role and responsibilities of marketing..................................................................................41.4 Interrelationship between marketing and other functions.....................................................41.5 Key elements of marketing function......................................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONMarketing plays an important role in the functioning of the organizations. It helps inassessing the requirement of the products in the market further concentrating on the taste andpreferences of the customers as well. A comprehensive discussion will be made on roles andresponsibilities a marketing department have to perform in relation with other departments in theorganization. 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 thediscussion concrete and reliable. In the end, the focus will be shifted to key elements ofmarketing functions such as, research, strategy, planning and tactics.1.1 Key roles and responsibilities of marketing functionMain aim of any firm is to gain maximum profit. This is only possible when they are ableto understand the roles and responsibilities in effective manner. It is important for the business tomake 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 adequateanswers to customers about the products and services that are delivered by the firm. Below givenare the roles and responsibilities of marketing function:Market research: With time, there are many changes that take place in relation with the tasteand preference of customers. Further, there are firms that deliver their customers with similarset of products and services. It is important to make sure there are frequent market researchconducted so that they are able to understand the need and requirement of customers andappropriate steps are taken to fulfil them. Further, it is helpful to identify the marketopportunities and to gain better understanding about the wants of customers. In addition tothis, there are different set of strengths and weakness of companies and with the help ofmarket 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 withexternal and internal product development team. The main role of these area is to develop anew product or services so that the rate of sales and profitability can be raised. Marketingdepartment make analysis of the performance that is made by existing products and servicesand focus on identifying the gap and provide this information to product development teamand this is way they are able to make improvement in the products and services. In additionto this, marketing team have direct interaction with customers and so they know better about1
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