Marketing Research and Analysis

This assignment delves into the field of marketing research, examining its significance in understanding consumer behavior, formulating effective brand strategies, and navigating the complexities of digital marketing. It involves analyzing various marketing research methods, interpreting data to derive insights, and applying these findings through case studies that illustrate real-world applications.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Roles and responsibilities of marketing function..................................................................1
P2. The way roles and responsibilities of marketing officers contribute in wider organisational
objectives.....................................................................................................................................3
PART 2............................................................................................................................................5
P3. Comparing 7Ps of marketing mix of Your Destination with National Express for
achieving business objectives.....................................................................................................5
P4. Developing a basic marketing plan.......................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is an activity which assist in promoting various types of products and services
to the potential customers in the market. This will cover mass market area for providing different
goods to their buyers and also rising into new market. It is the strategic part of business.
Company does marketing for increasing their growth and sale of specific goods and services.
Marketing is based on consumer choices and preferences. They analyse the customers’ needs and
wants according to the buyers taste and demand. Marketing is that way which help firm in
communicating with different channels (Aaboud and et. al., 2017). This report is based on “Your
Destination” which provides transportation facilities to the people. Company is growing at a fast
pace and effectively running its business operations in London. The main motive of this firm is
to compete with National Express who is the market leader in this sector. The purpose of this
report is to understand roles and responsibilities of marketing officer within an organisation and
analyse 7Ps of marketing mix for achieving business objectives.
TASK 1
P1. Roles and responsibilities of marketing function
MEMO
To: Marketing Manager
From: Senior Executive
Company: “Your Destination”
Date: 7th October 2017
Subject: Function and duty for the Marketing officer and planned structure and operations of the
marketing department.
Marketing officer or manger is the person in charge of all the promotional activities to be
performed by the company in order to increase its demand and brand recognition. It is his duty
to see that all the activities performed are as per company ethics and the targets are achieved on
time. Marketing is an important aspect that completes the demand and supply chain. To be
decisive and successful a marketing manager is required to be super confident and have
explanatory attitude (Aad and et. al., 2012). He has to plan, coordinate and organise
promotional activities so as to enable its client to pick company’s product instead of rivalries.
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Duties and responsibilities of marketing officer are:
1. Distribution: It is his role to portray how the service will reach to its client. This means
by which medium is it online or through app or through a customer service toll free
number. Along with this managers also have to take care that the medium that they
selects which help in reaches the large and mass number of customers, it is easy to use
and can be accessed anytime from anywhere (Al-Hasan, Thomas and Mansour, 2016).
For this, there is a need for strong IT backup available all the time to prevent any
hindrance. Distribution can be B2B or B2C.
2. Financing: To promote anything, money is needed. It is the duty of marketing manager
to make a budget related to all financial expenses that will be required by his team to
promote the company through several ways. Promotional expenses include commission,
radio and TV advertising expenses, sponsorship amount, event expense, tie ups
commission etc. A well planned budget makes it easy to advertise it through all
mediums as per the plan and will also give company time to arrange the necessary funds
through issue of share, or loan by private financial institutions or loan through bank.
3. Market research: The marketing team is required to find out who are its regular clients,
what's their age, why do they take the particular service, do they take multiple services,
what is the peak time for booking, what other rival services they take, who are the
rivalries in the market, what's the difference between the two. The answers to all these
questions will give them a detailed picture of where the company stands at present are
where it should focus to improve. Marketing research help in developing expansion plan
and to know who actually are company targeted clients (Babin and Zikmund, 2015).
Market research is an important aspect for the growth of the organisation.
4. Pricing: The pricing structure of “Your Destination” should be such that it covers all the
cost incurred like salaries of drivers, petrol and diesel cost, taxes etc. and in addition to
covering cost it also manages to make some amount of profit. Price should be kept on
per km. basis for cabs, time taken to travel, distance covered, category of vehicle
booked. It should be same or less as compared to its competitors. Price of courier should
be on basis of mode of delivery, type of delivery, dimensions and weight of parcel.
Accordingly price of other services should be kept. Since, Price is directly related to the
demand and supply, it is very sensitive factor, so the company should always follow fair
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and transparent pricing approach.
5. Product and Service Management: To maintain and improve its service quality there
should be a strong Feedback team. After every service client should be required to share
his experience and rate the service accordingly (Baines Fill and Page, 2013). This will
help marketing manager to know where they are lacking and help them to fill the gap by
constantly improving quality of service.
6. Promotion: It is an important concept in the marketing mix. Promotion in simple words
means advertising. Only if a product is promoted it will be recognised by the customers
and hence will create demand. If there is no demand than there will be no sales and this
will affect the probability of the company. “Your destination” adopts various ways to
advertise itself like promo codes, offers, discounts, card and wallets tie ups offers, free
new user ride , radio and TV advertisement, newspaper advertisement, Referrals
discount etc. It adopts either one method or a combination of various method from time
to time so as to create a continuous demand.
7. Selling: The very objective for establishment of an organisation is “Profit” which is
only possible by way of sales. It is the step where client pays a certain amount for the
product or service used (Baker and Saren, 2016). In the given association “Selling” is
use of its range of services by its client.
8. Marketing department- It is the primary division which execute different role and action
and help in attracting talented candidate who manage all work relate to marketing
department. They work for identify different needs and wants of customers and
according to their demand, they try to fulfil all requirements in proper manner.
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Illustration 1: Organisation structure, 2017
(Source: Organisation structure, 2017)
Marketing help in promoting different products and services for best quality to their
potential customers in the market place. This will assist in increasing profitability and
productivity in proper manner. Marketing is that activity which help in analysing different goods
and services and serve various products among customers.
P2. The way roles and responsibilities of marketing officers contribute in wider organisational
objectives
MEMO
To: Marketing Manager
From: Senior Executive
Company: “Your Destination”
Date: 7TH October 2017
Subject: Duties contributed in the wider organisation objectives.
Marketing is the large concept which help in attracting large number of buyers towards firm
products and services. They also evaluate consumers’ needs and wants which increasing
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company growth and reputation in the market. This is an essential activity and process of each
firm which help in enhancing their profitability and productivity. It will also affect the other
functions of the organisation. There are certain elements which are as follows:1. Operation function with marketing function- An organisation required to develop
strong coordination with their subordinates in the marketing department and maintain
business operations for achieving desired goals and objectives (Banerjee, 2013). They
will make a plan for analysing customers demand and wants according to the choice of
customers. Coordination will provide benefit for the firm in managing and controlling
the quality of their products and services. This department help in analysing each
activity of company and make record of it in an effective manner.2. Marketing and finance department- Finance department assist in preparing budget of
company which analyse actual position of firm. Marketing assist in identify different
sources where they can invest their capital and gain attention of customers towards
enterprise products and services. Finance department will help in organising marketing
campaign for attracting more buyers towards them (Basic elements of the marketing
function. 2012). They also spend money for performing various functions of marketing.3. Research and development and marketing functions- It is for the firm is to make
proper coordination between marketing and other departments for managing all required
functions. Marketing assist research department for promoting different types of
products which are made by first time and also aid in attracting customers towards new
and innovative goods. Research department provide information and data of competitors
to the marketing department so that they totally linked with each other.4. Human resource department and marketing functions- HR department is the backbone
of every organisation because they will manage and control all necessary activities and
functions in proper manner (Beatty and Samuelson, 2014). All the workers are
developed attractive which help in accomplishing targets and goals of firm. HRM
department assist in identify talented employees who are best suitable for the company
profile.5. Sales department and marketing function- Marketing mostly assist the sales
department for promoting various products and services to its potential customers. All
the promotional activities are completed with the help of marketing department, by this
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they easily attract buyers for purchasing goods.
6. Information technology and marketing function- By use of technology each firm will
attract different types of customers whether they are domestic and international. Mostly
company will promote their products by using technology sources such as online
marketing, post pictures of different types of products etc. IT department assist
marketing functions for effective promotional activities in better manner.
All implemented functions of IT department will not affects the sales of the company
but it directly impact on other activities of the enterprise (Braslow, 2015). The main role and
duty of marketing manager is to plan whole activities which help in coordinating different
functions in effective manner. Your destination will develop effective business operation plan
for achieving best result in desired manner.
PART 2
P3. Comparing 7Ps of marketing mix of Your Destination with National Express for achieving
business objectives
Marketing mix refers to that process which are related to core factor of business functions
that are used to develop products. This will assist in promoting and distributing various types of
products and services among customers. It will help in maximise income of firm. Marketing play
an essential role in earning maximum profit and productivity in better manner. This will cover
whole market area. It has four components that include price, product, place and promotion.
They will aid in achieving goals and objectives of National Express firm. It also assist in
performing various services from its rival.
This will assist in earning maximum profit by implementing various functions and
activities which generate large income or revenue properly (Caporaso and et. al., 2010). All these
activities will help in accomplishing desired goals and objectives in effective manner. There are
many other marketing mix which are used by organisation such as process, physical evidence
and people. The 7PS of marketing mix of “Your Destination” and “National Express” are as
follow:
Basis Your Destination National Express
Product The prime products of this This enterprise is leader of
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firm is giving best
transportation facilities that
include coach, train, bus, cab,
flights to the various
customers. They also offer
some other services at the time
of special occasions.
market in transportation
industry and they will make
effective strategies which help
in satisfy customers’ needs and
wants in better manner. These
organisation are connected
with each other in each manner
and offer different products but
they both fulfil buyers
demand. There are various
services which can be
expanded in different countries
such as Scotland, England and
Wales.
Price Firm price is always based on
buyer’s choice and
preferences. Your destination
are also fix their price on the
basis of income and living
standard of people. This is
totally depend on society
oriented.
They are provide reasonable
and affordable prices which
help in attracting large number
of customers towards their
goods and services. They will
adopt pricing strategy which
assist in earning maximum
profit.
Place Your Destination select those
place which help in attracting
maximum customers towards
desired products and services.
It will assist in gaining large
revenue (Jain, Ahuja and
Medury, 2013). There are
various branches of this firm
National express is help in
focusing on different strategies
which provide growth and
success to the firm. They also
try to adopt expansion strategy
for spread their business
functions and activities in
proper manner. By using this
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that include Glasgow,
Newcastle, Manchester and
Aberdeen etc. They will try to
expand their business location
for developing growth.
strategy, they will became
market leader at domestic as
well as international level.
Promotion The duty of marketing
department manager is to
promote different products and
services to their buyers and
earn maximum profitability
and productivity. Promotion is
an activity which help in
increasing sales of goods.
There are certain strategies
which are used by marketing
department that are
advertisement on television
etc.
On the other hand, national
express adopt effective
strategies for promoting
different products and services
to their potential buyers at
marketplace.
People Employees are assets of every
organisation because they done
each task for achieving
company desired goals and
objectives in proper manner.
Manager of firm are help in
increasing employees
development (Hoványi, 2013).
They also provide services to
their buyers according to the
need and wants.
People are major part of an
organisation who work for
company for increasing their
growth and make good
reputation in the market area.
They also develop plans and
policies which must be
followed by employees in
effective manner.
Process Your Destination use National express will adopt
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traditional approach by which
growth of company will
continuously slow and also
lack of skilled and
knowledgable employees. By
this they can accomplish their
targets and objectives.
modern approach by which
they easily achieve their
desired goals and targets. This
will also help in distributing
various products at
international level.
Physical evidence The manager of top level
management are try to satisfy
customers by fulfilling their
demand and wants
(HarrisSchwartz and Brownell,
2010).
A firm will take reviews and
feedbacks which help in taking
appropriate decision regarding
changes in products and
services. According to the
decision they will modify their
goods.
P4. Developing a basic marketing plan
An appropriate plan and policies are necessary for success of an organisation and they
will capture essential elements that play an important role in company growth. Marketing plan
should be made by firm for analysing different situations of market in proper manner (Chamorro-
Mera, Miranda and Rubio, 2014). There are various points which cover the marketing plan are
as:
Executive summary- Your Destination marketing plan is cover all required points which
are essential for employees by achieving desired goals and objectives of marketing. There are
many other components which are covered in it such as company overview, internal and external
analysis which assist in making accurate budgets for collecting sufficient fund that is necessary
for implementing and managing all wastage resources.
Company overview- Cited firm is transportation service provider company which expand
across large number of firm for achieving maximum benefit by the help of various marketing
strategies. There are different branches of organisation which are located in Manchester,
Newcastle and Glasgow, etc. and try to appoint talented and skilled employee for controlling all
necessary functions in an effective manner (Clow and James, 2013).
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Situational analysis- It is important for company is to analyse the whole situation of
market that are both external and internal factors which can be done by the help of various
marketing researcher. These are explained as under:
Internal analysis- Internal analysis is the intrinsic factor which help identify organisation
actual position of business in the market. It is related to strength and weaknesses and also
provide some advantage to the firm for achieving target goals and objections. It is that element
which recognise the other factors that will directly affects the company growth and success. This
is essential for each firm is to identify the internal factors for evaluating all necessary activities
and functions in effective manner. Business operations and functions are managed and controlled
by manager within an organisation.
External analysis- This factor assist company for taking top position in the sector and
some time these factors are affect on business operations in badly manner. It will help in identify
external issue or problems which occurs by analysing external environment. So that it is essential
analysis which shows the barriers and issue to the firm. This is external factor which play an
important role in Your Destination (Cohen and et. al., 2010). It is compulsory for every
enterprise is to follow all rules and regulations which develop by authorities. If they will not
these norms and rules so that the government will stop their all business operations activities and
functions in better manner.
Objectives- Objective refers to the task which is required to attain within determined span
of time. The major objective of cited firm is to became popular transportation service provider
company in future time period.
Strategies- By making marketing strategy for the company it is very useful in combining
all the goals and aims of marketing in developing effective strategies. This will help in doing
market research for analyse whole situation of market and help in achieving desired goals and
objectives. For achieving desired goals and objectives, it is important for firm is to adopt
effective strategies for smooth running of business operations ans functions. In this concept,
organisation will use porters five force model that can be used under different factors threats,
competitors, suppliers, bargaining power are mainly discussed (Cua Reames and Chai, 2013).
This will assist company in preparing designs and strategies for attracting large number of
buyers.
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Budgets- Firm will develop effective strategies which are required for increasing
profitability and productivity within an organisation. Finance department prepare budgets of all
necessary activities and functions of marketing which help in getting accurate result in a better
manner. This will assist in identify business operations and also know the functioning of these
activities. They also need to predict actual outcome for the annual turnover report which can
analysed all capital amount of company. Your destination prepare budgets for identify actual
position of firm in the market place. It is also necessary for company is to manage and control all
past and current data of marketing research by research development department for enhancing
growth and reputation. They will help in managing and controlling all required activities and
functions within an organisation.
Marketing budget
Particulars
1st
year
2nd
year
3rd
year 4th year 5th year
Initial fund 30000 3000 5000 6000 5000
Finance 17500 15000 16000 14000
Total 30000 20500 20000 22000 19000
Marketing
expense
Publicity 6000 8000 6000 5000 4000
Sales publicity 2000 2000 3000 2000 2000
Direct
marketing 3000 1500 2500 2500 1500
Internet
marketing 3000 1000 2000 2000 1000
Social media 1000 1000 1000 1000 1000
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printing 400 700 300 400 400
Events 1000 1000 1000 1500 1000
Total 16600 5300 4200 7600 8100
Control- At last, it is necessary for an organisation is to make effective plans and
strategies and also control or managed all things in an appropriate manner (Dioko, 2016).
Company manager will try to reduce amount of losses which can assist in increasing growth and
success. They will easily control and maintain business operations within an organisation. The
firm can identify various factors which create errors and barriers for managing all required
functions in proper manner.
CONCLUSION
As per the above mentioned report, it can be concluded that marketing assists in
promoting different types of goods and services to their customers in the market. Marketing
department analyses the customers’ needs and wants according to the buyers taste and demand. It
has been assessed that marketing is helps the firm in communicating with different channels.
This is an essential activity and process of each firm which helps in enhancing their profitability
and productivity. It can also be articulated that marketing plays an essential role in earning
maximum profit and productivity in a better manner. Marketing mix will cover whole market
area. It has four components such as price, product, place and promotion.
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Online
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<https://haskayne.ucalgary.ca/executive/BEInfo>. [Accessed on 7th November 2017].
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