Essentials of Business and Marketing

The assignment appears to be a collection of references and sources related to business and marketing. It includes articles, journals, and books that cover various topics such as entrepreneurial marketing, social engineering, and mobile marketing. The document seems to be an aggregation of existing knowledge on business and marketing essentials, providing a comprehensive overview of the subject matter.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Key roles and responsibilities of the marketing function..................................................1
M1 Role and responsibilities of marketing in the context of the marketing environment.....3
M2 Importance of interrelationship between marketing and other functional units of an
organization............................................................................................................................3
P2 How roles and responsibilities of marketing related to the wider organizational context 4
TASK 2............................................................................................................................................6
P3 Comparison of marketing mix of two different organization...........................................6
M3 Various tactics applied by organization to demonstrate how business objectives can be
achieved..................................................................................................................................8
P4 Marketing plan of an organisations...................................................................................8
M4 Produce detailed coherent evidence based marketing plan for organization.................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing is an important study of business for managing all the exchange relationship
for the customers. As per American Marketing Association, marketing is an activity to promote,
create and deliver the value for customers in order to gain higher satisfaction. Main function of
marketing is to attract large number of customers towards company and its products and
fulfilling their needs in a manner that they would get highest level of satisfaction (Swenson,
Rhoads and Whitlark, 2014). It aids in building the strong relationship with the clients. Present
report is based on firm, Your Destination which is a popular transport company based in UK.
Various key roles and responsibilities of marketing function are mentioned in this report along
with defining effective comparison of two organizations that help in capturing high market share.
Along with this, a basic marketing plan for Your Destination is also provided here.
TASK 1
P1 Key roles and responsibilities of the marketing function
Marketing is an effective concept which is used by company to promote their information
in front of market . The main objective of marketing is to increase profitability by delivering
high quality products. It aids in satisfying customers’ needs in the most appropriate manner.
Marketing is the core concept which increases a positive brand image so that all clients will get
aware with their products and process. Basically, marketing is an effective process which affects
the overall performance of company. It also helps in improving the employee’s performance.
Main purpose of using marketing concept is to satisfy their customers’ needs by delivering high
quality products as per their requirements. In Your Destination, marketing plays an important
role as it increases the number of customers and also, investors who help in getting higher
profitability. In this, company conducts various survey and undertakes different researches to
identify customer’s demand and provide their services accordingly. By using marketing concept,
Your Destination manages all their promotional activities to set a positive brand image in the
marketplace (Peter and Donnelly, 2011). There are some effective marketing functions which
are used by company to maintain their sustainability like: Market research: This function is more important for company to determine the overall
detail of target market and customers. Marketing research helps in making an effective
marketing plan which aids in achieving the overall objectives of business. Main function
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of marketing research is to find out the target as well as potential customers. It helps in
creating the demand and market trends which influence customers’ needs so that they
would buy the product which contribute in increasing the company’s sales. Your
Destination also undertakes research to evaluate the competitiveness in market which
helps in evaluating the target market so that they would easily sell their services in an
effective way. Promotion: It is one of the best and important functions of business which define various
promotional activities in order to increase overall sale of company. It is the prime
responsibility of firm to create awareness as well as curiosity in customer’s mind towards
products and services (Novak, 2010). It is an effective part of marketing which
contributes in improving the brand image at marketplace and attracting more customers. Distribution: It is important for company to use better strategy to enhance the demand
and supply chain in an effective way. It is one of the major roles of manager to use better
distribution channel to maintain their profitability level in market. Marketing information management: It is a systematic process of marketing which
helps in managing the information in an effective way. Main purpose of this management
is to gather relevant information about the market and potential customers. This
information helps in increasing the sale of company. Product and service management: It is also an important function of marketing
department to manage all the activities of products and services. In absence of
management, company is not able to add values in existing products. It includes
designing, maintaining and developing products and services. Better management
increases the profitability of company. Pricing: In today's market, setting price is one of the important tasks of marketing
department. For increasing the sale of company, it is an important responsibility of
marketing team to set the best price of products according to customers. So that they able
to inviting large number of customers towards its products and services. Information and communication: Effective communication with customers and
stakeholders is one of the important roles of marketing team which aids in achieving
higher satisfaction level by them. With the help of better communication, marketing team
easily gives their product’s information in order to gain faith towards company.
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 Establishing coordination: Proper coordination with all the departments is more
important for company so that all products will be introduced in front of market
effectively. With the help of better mediums and communication, manager of the
company easily established proper coordination among all the activities.
M1 Role and responsibilities of marketing in the context of the marketing environment
There are several roles and responsibilities of marketing department which helps in
gaining the organizational goals and objectives in appropriate manner. Marketing environment is
dynamic nature so that manger of the company define various responsibilities in order to
maintain the better environment which are as follows:
Market segment: It is more important for the company to set their market segment in which they
offer their products and services accordingly which helps in achieving the better visibility I order
to achieve higher success at market place.
Strategy: It is important responsibilities of the marketing department to set the effective path and
way in which they operate their all the activities to get best results in appropriate manner.
Company set their strategies on the basis of marketing segmentation as well as target so that
they easily offer as well as deliver quality services to their customers and get their higher
satisfaction.
Planning: In this step marketing department make a plan for any kind of process in order to
maintain all the changes which take place in organization.
Contingency: In this various uncertain situation are the main reason of dynamic nature in
external surroundings. For this marketing department use action plans and also make effective
strategies to improve overall performance of the company.
M2 Importance of interrelationship between marketing and other functional units of an
organization
It is more important for the company define the effective relationship with other
department so that they take best advantage of it and achieve desirable goals and objectives. In
this the marketing department allows to the company to engage with other functions which aid in
generating larger profitability in appropriate manner. Every company use marketing because it is
a effective function which helps to the company to make better relationship with every customers
and also engage with internal department ion order to improve their overall performance of the
company at market place. Marking function help to the company to achieve strong position at
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market place and also capture large market share for its rivals. It is also important that all the
department done their work in effective direction in order to achieve all the desirable goals.
P2 How roles and responsibilities of marketing related to the wider organizational context
Marketing is a set of activities which include various function which is used by the
company to attain higher success at market place. In the modern era business have divide their
all the activities as well as work in various department which have many roles and
responsibilities to carried out effectively (Akaka, Vargo and Lusch, 2013). In this proper
coordination is more important to get positive results in appropriate manner. It aid in evaluating
the faster process to get the strong place in market. Marketing function play an important role ion
Your destination which direct impact of other departments in various ways so that they can
easily reach their target. For attain desirable goals and objective proper coordination among al
the department is important because these are interrelated with task other. All the division aid in
completing all the task of the marketing to get positive results in appropriate time period. There
are some roles of marketing with which related to the other departments of the business are as
follows: Finance department: It is more important for the company to make effective financial
strategy so that they easily maintain their budget. Finance is important for the marketing
team to execute their activities in market place. Marketing team [provide better data and
information so that financial department set their budget to fulfil all the financial
requirements of the company. With the help of this they develop new products in the
market. In this financials department help to the marketing to set the promotional
campaign which aid in inviting large number customers toward the company. Research and development department: Your destination must be set their research and
development team which works with the marketing department to undertake various
research to evaluate the actual needs of the customers at the time of journey (Askeland
and Wright, 2013). So that marketing team easily provide them better services to get their
higher satisfaction. For launching the new product and service research department play
important role because it gather all the relevant information about the market as well as
clients requirements. Your destination also do the same to reduce their operation cost so
that they easily attain their customers trust and get competitive advantage in market
place.
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 Human resource department: It play important role in the marketing process because
HR section manage all the activities of marketing department so that both are interrelated.
With the help of this Your destination include excellent employees who are able to
communicate with their clients and understanding their needs. It aid to the marketing
team to offer their products accordingly so that they easily satisfy their potential
customers in effective way. Customers service: Satisfy customers needs and demand by delivering quality products is
more important to get the higher success at market place. In modern era satisfied
customers are aid in improving the brand image of the company. For this customer
service department also play important role because it helps in resolving all the queries of
the clients towards the products and company. It helps in satisfying their neds and
achieve potential customers. In Your destination marketing and service department aid in
inviting large number of customers. In this effective communication with the client is
more important to determine their needs. For example the service department use various
effective marketing techniques to resolve all the distribution and transportation issue in
better way. Sales and Distribution department: It is an important department which increase overall
sale of the company (Desai, 2013). Marketing team work with this department to
generate feedbacks from their customers so that they implement various effective
changes effectively. For improve the profitability effective marketing process is done by
the company to get potential customers. On the other hand marketing team also works
with the distribution team so that they easily offer their products in front of customers in
appropriate time period.
 Information and communication department: To gather as well as collect the
information, marketing department work with information department which aid in
reaching to their target and potential customers (Durmaz, 2011). For this marketing team
use effective IT tools and various methods to resolve all the obstacles which is faced by
the company at the time of promoting their products and service. The main function of
this department to safe and maintain all the data and information which contribute in
inviting large number of customers
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TASK 2
P3 Comparison of marketing mix of two different organization
Marketing mix is a best combination of various key elements which aid in evaluating the
marketing plan to develop growth of the company. The main purpose of all the marketing
strategies to attain organizational goals and objectives ion appropriate way. Your destination is
fast growing industry that provide better transportation facilities to their clients in order to get
their positive reviews. In this the important responsibility of the manager to collect as well as
manage all the marketing activities so that they easily expand their business at larger scale. In as
today's market every company wants to expand their market activities to take strong place in
competitive market (The Marketing Mix, 2016). All the elements of the marketing mix is
controllable by the company which increase sale of the company. There are several elements of
marketing mix are: product, price, place and promotion but in recent time three elements are also
added which are people, physical evidence and process. In the below comparison of marketing
mix in two organization are as follows:
Basis Your Destination National Express
Product They give effective transportation
service to their customers which
aid in retain the existing
customers and also invite new
clients toward the company.
They provide bus, coaches, and trains
to their customers to satisfy their
needs with more comfortability. They
also give food facilities to their long
journey customers.
Price They use competitive pricing
strategy so that they easily
compete their competitors
(Gartee, 2012). They set their
products price according to the
customers so that they easily use
their services.
National express use differentiation
strategy in which they provide extra
benefits to their clients like discount
and many more benefits. They also
provide give minimum charges on
online booking.
Place They set their stores at various
countries. In this it is main
responsibility of the manager to
National express set their outlets at
various countries which aid in
achieving competitive advantage.
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provide better services at right
place so that they can easily
invite their target customers.
Better lace play an important role in
providing convenient for the clients.
Promotion Your destination use effective
promotional activities to increase
their brand image in customers
mind and market as well. They
add some effective elements like
advertisement through TV,
personal selling in which they
easily increase their sale and
profitability. It aid in developing
the overall growth of the
company at marketplace
(Eslinger, 2014).
National express use various
promotional activities to increase
their sale and generate more revenue
in appropriate manner. With the help
of posting templates and add include
various advertisement to increase the
public relation.
People Company focus on including
skilled people in their activities
so that they can easily competing
all the work in effective manner.
They also set right person at right
place which aid in achieving the
competitive advantage.
Cites company include skilled and
experienced staff members in their
organizational activities to improve
overall performance of the company
and attain setted goals and objectives
in effective manner.
Physical evidence With out physical evidence
company can not able to provide
quality services to their
customers (Hall, 2014). They
include various evidence like
hotel room and as well as better
room services to provide more
comfortable for its clients.
National express include various
outlets in order to improve the
potential clients towards the products
and service.
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Process Your destination use effective
process like they add new and
innovate techniques in order to
evaluate the effectiveness in the
business. For achieving the
higher success cited company use
six sigma concept which aid in
eliminating the poor process and
maintain effective schedule to get
competitive advantage in
appropriate manner.
In this they include various strategies
in their existing process in helps in
implementing the marketing plan in
effective manner (Ionitã, 2012).
M3 Various tactics applied by organization to demonstrate how business objectives can be
achieved
Company used various tactics and strategies in their activities so that they can easily
attract large number of customers towards the product and service. Your destination use
competitive pricing strategy to get higher profitability by providing quality services to their
customers at affordable price. The4y also use digital media for promoting their information in
front of audience so that customers aware about their products and but effectively which lead in
increasing the profitability level at market place. With the helps of effective strategies they get
competitive advantage in appropriate manner and take strong place in market which helps in
improving the overall performance in most effective way.
P4 Marketing plan of an organisations
Marketing plan is an written document that include various process and strategies which
perform in the whole business to achieve the target. This plan is prepare by the marketing
manger of the company to evaluate the actual performance of the company. Before making
marketing plan they undertake various effective researches to identify the competitors of the
company in market place (Jones and Rowley, 2011). Marketing plan of the Your destination in
bellow:
Overview of the company:
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Your destination is faster growing company which provide transport services to their
client in order to get their satisfaction (Kennedy and Parsons, 2014). They operate their
operational activities in London and Essex.
Mission of the company:
Offering quality services to their customers in order to attain higher satisfaction by them
is a mission statement of Your destination.
Vision of the company:
Become a faster growing transportation industry in other countries by providing values to
the customer's is a vision statement of Your destination.
SWOT analysis:
This process is more important for the company to identify their actual performance in
front of market (Khan and Adil, 2013).
Strength:
 Offering quality products is one of the biggest strength of Your destination.
 They use low prise strategy to attract large number of customers. Positive brand image is also a big strength.
Weaknesses:
 Less number of stakeholders is biggest weakness. Higher competitors is also a negative point of the company.
Opportunities:
 They focus of expanding their business activities at large scale. Use of eco-friendly transportation mechanism which helps them to remain ahead of its
competitors as it is the future of this industry.
Threats:
 Limited resources is a threat of the company.
 Less brand image in front of customers ad market.
External analysis:
This evaluation is uncontrollable by the company which directly impact on overall
performance of the company (Lipsman and et.al., 2012). It is related to the external factors
which exist in outsider of the company. It play important role in company growth because they
set various rules and regulation which have to follow by the firm to execute their process
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ethically (Mihart, 2012). This analysis include various factors which are political ,economical,
social, technological, environmental and legal. All are uncontrollable so that it is main
responsibility of the manager as well as company to measure their impact appropriately.
Target market:
It is more important for the company to set their target market so that they easily develop
their policies and strategies to satisfy their customers needs. Target market related to the
segmentation of the society in which company offer their products and service accordingly.
Marketing budget:
Prepare budget is more important to formulate all the activities which contribute in
overall success of the company. In this manager of the Your destination make a budget in which
they include all the expenditure like advertisement, sales promotion and direct marketing. By
preparing this they analysis the actual performance of the marketing activities.
Monitoring and controlling:
In this last stage of marketing plan Your destination perform all the activities which is
controllable and manageable by the manager of the company to evaluate the better results in
appropriate manner. This aid in finding the marketing demand and trends which existing in the
recent time. With the help of this company easily maximize their sale and profitability in better
way (Papasolomou and Melanthiou, 2012).
M4 Produce detailed coherent evidence based marketing plan for organization
Marketing plan is an written document which define various aspects that perform in then
business to achieve the success. It define the effective path in which company operate their
business in order to achieve the organization goals. With the help of this company easily attract
large number of customers toward its product and services. It include company mission, vision ,
goals and objectives so that they achieve all these elements in effective manner. Before making
marketing plan, manager of the company undertake various researches to identify their needs and
demand in order to get better results. It also evaluate the current marketing opportunities in
which company improve their performance in appropriate manner.
CONCLUSION
From the above mentioned report, it can be concluded that marketing is an important
study for the company to maintain the better relationship with the customers. In this the effective
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process of management of marketing activities help in increasing sale of the company. Various
roles and responsibilities is also effective to generate more revenue from its customers by
delivering quality products. It is not wide process but it is a continuous process which aid in
undertaking better research to identify the customers needs. In this the marketing mix also
important to develop the brand image and also contribute in making the business plan to get
overall success of the company. On the other hand marketing plan also aid in expanding the
business and achieving its goals and objectives in appropriate manner.
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