Marketing Essentials

This presentation provides an overview of marketing essentials, including its definition, concept, and the roles and responsibilities of the marketing function. It also explores the interrelationship between marketing and other departments in an organization. The changing marketing landscape, the marketing mix, and the difference between B2B and B2C marketing are also discussed.

Marketing Essentials

INTRODUCTION
• Every business needs to promote and advertise their products and services so that customers can be
attracted. There are many ways of marketing such as social media, TV, newspapers, etc.

DEFINITION OF MARKETING
• It refers to process or methods which a company undertake to promote and sell their products in the
market. It includes many activities like selling, delivering, etc. goods to customers.

CONCEPT OF MARKETING
• It contains a philosophy that enables in finding out needs of customers and to influence their decision to
buy product.

Model of marketing process

P1 Roles and Responsibility of marketing function
• The marketing department has overall responsibility regarding the increasing market share, growing
revenue as well as profitability. Within a small business the department are also allowed
• One person or as it involves a marketing director that are accountable for marketing executives
regarding the functions such as advertising, events and publications.

CONT..
• Listening the needs of the consumer
• It is the most crucial strategy that can be aids to the clients as well as find out the requirements of the
consumers.
• Company internal channels- It is used to create surveys regarding information of sales team as well as
the customer support. It may be relevant to increase the strategies within future.

CONT..
• Assure firms survival, growth as well as reputation
• It survives the consumer retention as well as enhance the marketing share . As marketing aids the firms
to achieve the objectives as it called as customer-centric. It aids in satisfying consumers beyond their
expectations.
• Better product offering
• Price is considers as a vital element within the marketing mix regarding good as it can generate
• revenues. These strategies aids in setting the fair prices, prepares a right approach as wells focuses on
the suitable change. As this exchange process moves smoothly as these are considered as fixed prices
within a favorable manner.

CONT..
• Creates utility
• A product utility is created by the marketing. As utility is considered as an approach that can able
• to satisfy the needs and desires . As marketing creates form time, place, possession utility such as A car
can meet the requirements of a vehicle as well as ride on it. For some rich costumers Cars are the status
symbol ,while middle class needs cars for their needs regarding family members.

CONT..
• Economic growth
• Demands are created by the Marketing. It also enhances the demands as well as encourages the
distribution as well as production activities. As an outcome industrial growth ,there is an increases
within income level as because of the opportunities of employment.

CONT..
• Discharge regarding social responsibility
• The rise within the expectations of the consumers ,environmental degradation, government pressure
also forced the firms like Samsung to practice the social responsibility. As Social marketing plays a
vital role as Samsung can be used cause-related marketing as it can be widely used.
• Track trends as well as monitor competition
• It is considered as the crucial function to know that the firm regarding the competition and market. It
can focus to identify the mistakes as well learn what to best and also tried to avoid mistakes.

The changing marketing landscape
• Digital era
• Changing marketing conditions
• Globalisation

Marketing mix

Difference between B2B and B2C
B2B B2C
Here, business market products to business only Here, products are marketed to consumers
The market size is small The market size is large
Highly complex process Very easy process

P2 How roles and responsibility relate to wider
organisation context
Marketing plays significant role in achieving companies goals and objectives. Also, each department is
interrelated to one another to attain common goals. However, they perform various functions. Likewise
marketing is related to other as well :
• Marketing and finance
• Marketing is related to finance in many ways. this is because funds are required to promote and market
products and services, organising campaigns, etc.

CONT..
• Marketing and R&D
• R&D is also interlinked with marketing. here, market research is done on basis of data and information
that is shared between them. Besides that, if there requires any change in product design, features,
packaging, etc.
• Marketing and HR
• HR plays vital role in business. they hire candidate as per requirement by marketing department to
perform various tasks and activities. alongside, HR also provide training to them and measure
performance on basis of goals and objectives.

CONT..
• Significance of interrelationship
• There is an effective relationship between marketing and other functional areas. With help of this data
and info is shared.
• The production unit is able to produce products as per requirement of market. So, through it, customers
needs are fulfilled. Moreover, for promoting of goods and doing market research funds are acquired
from finance unit.

REFERENCES
Books and journals
• Kostelijk, E. and Alsem, K.J., 2020. Brand Positioning: Connecting Marketing Strategy and
Communications. Routledge.
• Andersen, P., Weisstein, F.L. and Song, L., 2020. Consumer response to marketing channels: A demand-
based approach. Journal of Marketing Channels, 26(1), pp.43-59.
• Bojei, J., 2020. R&D marketing integration in new product development: The case of the
telecommunications industry in Malaysia (Preliminary findings). Malaysian Management Journal, 2(2),
pp.93-104.
• Singh, A., 2020. A Study of the Impact of Integrated Marketing Communications on the Consumer
Decision Making: A Study of Indian Telecom Industry. Our Heritage, 68(30), pp.9316-9328.
• Ubed, M., 2020. MARKETING & MARKETING IMPLEMENTATION. Our Heritage, 68(24), pp.63-
71.

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