Role and Responsibility of Marketing Function in Large Organizations

Marketing Essentials
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK-1............................................................................................................................................3
P1 Discuss the important role & responsibility of marketing function..................................3
M1 Analysis the roles & responsibility in context of marketing environment......................4
P2 Explain how roles & responsibility of marketing are related to large organisation..........5
M2 Analysis the importance of interrelationship between marketing and other function of
organisation............................................................................................................................6
TASK 2............................................................................................................................................7
P3 Comparison between different organisation marketing mix in order to achieve business
objective.................................................................................................................................7
M3 Evaluate the tactics applied by organisation for achieving organisation objective.........9
TASK 3............................................................................................................................................9
P4 Develop a basic marketing plan of selected organisation.................................................9
M4 Produce a detail marketing plan for organisation..........................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
Main objective of this report is to better understand the concept of marketing. It refers to an
activity which is used by an organisation for making an effective and strong connection with
their customers in order to promote their goods and services (Constantinou and Sauvage, 2018).
Marketing play an essential role in creating a unique image of organisation. It will assist an
organisation in effectively analysis the current market trends and needs of their customers. By
conducting a proper market research on market trends company will achieve competitive
advantage in market which help in the long term growth and development of company. For this
report Lloyds bank is taking into consideration. It is the largest British retail and commercial
bank with branch across England & Wales. It was founded by John Taylor and Sampson Lloyd
in 1765 and It’s headquarter is in Landon, United Kingdom. The bank will offer a full range of
banking and financial services and have more than 1300 branches in England and Wales. This
report will include roles and responsibility of marketing functions and interrelation between
different function of organisation. Other than this it will include marketing mix of an
organisation which help in the achievement of organisation objective and a business plan.
MAIN BODY
TASK-1
P1 Discuss the important role & responsibility of marketing function.
Marketing- It refers to an activity or a set of institution and process which is used by an
organisation for creating, communicating, delivering and effectively exchanging attractive
offerings which add value for customers and various stakeholders for company (El Khoury, and
et. al. 2019). It will play an essential role in the growth and development of an organisation as it
will assist in effectively promoting the goods and services of an organisation to its target
audiences. While marketing functions will also play an essential role which assist an organisation
in better identification & source potentially successful products for the marketplace they operates
on & them effectively promote tem by differentiating them form other similar products. It will
play a vital role in company. In context of Lloyds bank, various important responsibility of
marketing functions are discussed below:
Product concept- Most important role of marketing function is to provide better services
and products to their customers with the help of appropriate tools which help them in enhancing
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their sales. In context of Lloyds bank, their marketing department will ensure that they will
provide better deal to their customers related to their financial product.
Selling concept- Another concept of marketing is to ensure that they will use effective
marketing tool which help them attracting their customers towards their services which assist
them in enhancing their sales of products. In context of selected company, their marketing
manager will use various promotional tool and provide effective financial deals which attract
more and more customers towards company (Han, Yu, and Wang, 2018).
Satisfying customers- Another most important role of marketing function is to better
satisfying the needs of their target customers. In context of selected company, their marketing
department will conduct a proper research on the current and future market trends & provide the
services according to their requirement. This will help company to achieve higher customer’s
satisfaction and achieve better growth.
Maximising profit- Main role of marketing functions is to help an organisation in
achieving maximum profit by providing better deals and financial services which attract more
and more customers towards company. In context of selected company, they will provide all kind
of financial services to their customers and their good brand image will help them to achieve
maximum profit.
Enhancing brand image- Marketing function will perform another important role in an
organisation which is enhancing the brand image of company. In context of selected company,
their marketing department will use effective tools of promotion which help them to create a
better image of company and their marketing manager will also interact with their customers
through social media which help them in creating a unique brand image in the market. Lloyds
bank was have a strong brand image which help them in achieving the competitive advantage in
market and achieve higher growth and success (Hoynes, 2019).
M1 Analysis the roles & responsibility in context of marketing environment.
It was analysis that marketing environment will include various factors such as political,
economic, Social, cultural and technological factor. All these factors are directly affect the
growth and functionality of organisation. It was analysis that any change in the political factor
will require to change the services off company. While any change in the economic condition of
country will affect the function of bank such as it will affect the interest rate charged by bank on
the loan provided by them. Marketing department will play an essential role and responsibility in
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