Marketing Essentials

This document provides an overview of marketing essentials, including the definition of marketing, the marketing process, and the impact of the external environment on marketing activities. It also discusses the structure and operations of a marketing department in a medium-sized company and the importance of marketing to other departments. Additionally, it explores different marketing concepts and their relevance in today's business world.

Marketing Essentials
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EXECUTIVE SUMMARY
Marketing is a process through which companies promote its product and services in the
market using different tools. Before launching any new product prior research is done by this
section which helps commercial unit in achieving success. No marketing team can remain
unaffected by the factors of business environment as polices laws and trends has their direct
influence on the company’s promotion activities.
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Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
Definition of marketing and an explanation of the concept of the marketing process................4
How the external environment influences marketing activity?...................................................6
Structure and operations of a marketing department in a medium-sized company.....................7
Importance of the marketing function to other departments in the organisation.........................9
TASK 2..........................................................................................................................................10
Covered in PPT..........................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Marketing is a process through which goods and services are delivered in the market from
the place of production to the final place of its consumption. It is a continuous and inevitable
department for most of the business as without it maximum sales cannot be achieved. it is also
referring to as a concept through which connections among the distinct departments and external
factors are created which further assist in business endeavours (Blythe, 2012). Bulb Energy Ltd.
Is trading in bulbs and is known for supplying green supplier that is renewable power. The
following report will assist the same organisation in understanding what is marketing and will
also discuss the different concepts related to same. It will highlight the interrelationships of the
concern section with the other important division of the company which will help them to grow
and stablish the competitive advantage. Along with this the structure of marketing subdivision
will also be analysed as how it works in a medium sized enterprise.
TASK 1
Definition of marketing and an explanation of the concept of the marketing process
According to the American Marketing Association “Marketing is method of forming,
collaborating, conveying and swapping offerings in society which has value. Different products
and services are produced which has demand in the market and to deliver them at the right place
on right time it is important that proper process of marketing is followed. There are different
types of marketing and some are discussed below:
Paid marketing – It is one type that is very much in trends in the present business
scenario. Big enterprises as has different tasks to perform they outsource their marketing work
with third part so that effective results can be achieved. payments are made according to the
results of the work done by them and hence it is termed as paid marketing (Eng, 2017).
Relationship marketing – Customer is a king of market. in order to develop relations with
them this type of promotion is done which assist in keeping long term connections with the
clients. Direct interactions are maintained with the potential consumers which helps in
developing their satisfaction level (Brooks and Simkin, 2012).
Word of mouth – This is a distinct variety in the marketing process. Here customer
themselves promote the product in the society once they are satisfied with product used by them.
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It is an effective way as people when get positive feedback from someone among them only they
get easily convinced and hence can be a potential option for Bulb Energy Ltd.
Internet marketing – In the present digital world internet has become a daily necessity for
everyone. People are addicted to same and refer to it before buying anything from the market.
Bulb Energy Ltd can also promote its products on net where simply the product information is
given in detail which helps customer to know what the product is about. Reviews are also present
on the sites which further helps people in deciding what is the desired alternative for them (Carr,
2014).
Concepts of marketing
Bulb Energy Ltd in order to expand need to understand the models that are related to
referred to concept in detail as only then it can apply the marketing in business in most
appropriate manner. these concepts assist in raising the total revenue, fulfils the desires of the
buyers and guide in giving close rivalry to the other organisation operating in same field. Five
theories of this departments are as follows:
Figure 1Concepts of marketing
(Source: 5 Marketing Concepts Explained with Examples, 2019)
Production concept – The idea behind this is that people in market will support that
service of commodity that is present on time and is within their purchasing capacity. It is one of
the most traditional theory which has assisted much to the sellers. Also this concept was
introduced at the time when people use to travel less because of limited resources and it was
believed that if a particular product is made available in an area, someone will definitely but it.
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Selling concept – There are lots of option available for similar product in the market. This
makes it necessary for the produces to adopt appropriate selling technique so that it can establish
itself distinct from other in the same field. It emphasis more on delivering and making sale of
whatever is produced by the producer instead of giving more importance to what is desired by
the population (Hashim and Hamzah, 2014).
Marketing concept – This is another practice which is based on the belief of
accomplishing objectives of the business by determining the demands and desires of the
customers. Here more emphasis is given on what is demanded in the market and that same is
delivered which further raises the chances of sales and revenues are generated. Hence clients are
provided with what they want and hence they get maximum satisfaction.
Societal concept – Another model is this which focuses on the welfare of the society too
along with the profit maximisation of the company. It promotes such practices in the marketing
which are beneficial for the general public and are carried out as per the norms and full fills the
corporate social responsibilities.
Product concept – Last but not the least is the product idea. According to this marketing
supports the idea of maintain the quality and standards of the commodities and services that are
delivered to the customers. It should have distinct features which are new and continuous
improvements should be made for example Bulb Energy Ltd following this practice must ensure
that whatever bulbs it will produce will be of effective quality and are worth of its value.
How the external environment influences marketing activity?
Bulb Energy Ltd operate in the market which is effected by the external environment. It
consists of different factors like political powers, environmental laws, legal consideration,
technological changes, social trends and all these has their indirect influence on the business.
None of these elements are under the control of the organisation and management need to adopt
the changes as per their guidance because violation or ignorance of any these factor may affect
the business in great way. Therefore, the marketing practice is also very much influenced by the
changes or current state of such outside elements as planning of promotion is done in a way that
all the criteria of exterior atmosphere are met. The effect of external environment on marketing
activities are discussed in detail below:
Political influence – Federal state and local bodies has their major influence on how the
marketing activities are carried out. Some of the activities are in favour for the companies like it
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supports the purchase of intellectual property such as patents, trademarks, etc. But also strict
guidance is given to the marketing industry is given and while design the promotion marketers
has to ensure that they fulfil all these criteria’s. For example, any misrepresentation of
information by Bulb energy marketing team may lead it towards trouble as it has to answer the
government if found guilty (Haywood, 2019).
Economic environment – Countries economic conditions keep on fluctuating and it brings
high impact on the present marketing strategies of the business. They have to be modified as per
the current state so that overall cost of the process can be controlled. Promoting the product in
the market is feasible when people the economy is stable.
Technological environment – with the advancement in the completion there is continuous
increase in the applications in the market as they are updated on continuous basis. Every time a
fresh technology in the field of marketing is launched it increases the work for Bulb energy
group to change its promotion tactics. Marketers has no choice but to adopt whatever is newest
as only than the competitive advantage can be achieved. This way the whole process for
marketing mix is conducted which leads to loss of cost and time for the marketing team (Stern
and Porr, 2017).
Social trends – While planning the advertisements the trends of market needs to be well
evaluated in from the market. It has to be closely monitored that what medium is maximum use
by the general public as there are many ways through which customers get to know about the
product. Whatever is found to be most effective and result oriented is adopted by the team of
marketing and hence maximum reach to clients is done.
Structure and operations of a marketing department in a medium-sized company
Marketing is a huge concept and is consist of many functions which are performed all
together so that the desired outcomes can be achieved. Each division under this division has its
own duties and responsibilities which needs to be fulfilled on time as only than the final output
will be effective. Given below is the marketing structure of Bulb Energy Ltd is given below:
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Marketing manager and marketing director – both these officers are of equal
importance and can be in the absence of one another. They have their prime duty of formulating
the marketing plans for the company which are further followed by eth different department of
promotion division. Under same they decide on what medium will be used to market the product,
how the campaigns will be planned etc. (Purvis, 2015).
Public relation employee – customer is the most important stakeholder for Bulb Energy
Ltd. This section of marketing deals with the non-paid marketing and promotes the business
through realising text in the press, through using the different media marketing etc. knowledge
about the product is given by them to the customers (Ionita, 2012).
Designer and creative servicer – A huge cost is incurred on the designing and packaging
of the product. Therefore, it is important that before finalising a product layout it should be
approved by all the stakeholders. For same the designer and creative service department works
and generate a blueprint so that cost can be saved in case of any changes if required. Apart from
this it also develops the paper and soft copy promotion designs for company which are
distributed in the market and hence the product is made familiar to the customer.
Market researcher – To successfully launch the product and to target the most
appropriate audience investigation of the market has to be done. This process is carried out by
the research and development team of this division who does the market survey and collect the
relevant information as what is the best place to launch the offering and who all can be targeted
(Lipsman and et. al., 2012).
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Mid-level marketing
team structure
Content
Developer
Public relation
employee
Designer and
creative servicer Market researcher
Marketing manager
and marketing
director

Importance of the marketing function to other departments in the organisation
Marketing department and finance departments: Main role of marketing department
is promoting products and services of Bulb Energy Ltd with motive of influencing buying
behaviour of customers. Whereas finance department is liable to arrange accurate amount of
capitals from different sources which are banks, peers to peers funding etc. Marketing division
uses different tools of marketing which are TV Advertisement, radio, social media etc. These
tools require maximum amount of capitals and they take fund from finance division. On the other
hand, finance department gets assist from marketing department in terms of acquiring investors
by boosting brand. These interrelationships enhance the chances of accomplishing organisational
goals and objectives (Papasolomou and Melanthiou, 2012).
Marketing department and human resource department: HR department of Bulb
Energy Ltd is accountable to hire and select best suitable candidate at right place at right time so
that Bulb Energy Ltd can have filled its employee with skilled as well as knowledgeable
workers. To perform its duties effectively, human resource manager need helps from marketing
department who promote vacant job post following various tools i.e. newspapers, digital
platform, pamphlets, etc. This will bring positive output to an enterprise in context of their
sustainability and profitability (Puddle, 2015).
Marketing and production department: Marketing department works in coordination
with production department. Marketing division of company is responsible for analysing needs
and trends of market and provide this information to production department so that products can
be manufacture accordingly and requirements of customers can be satisfying. The marketing
department of Bulb Energy limited provide information about market trends to production
department and it ensures that products as develop as per market needs. Production department
in turn provides innovative products to marketing division for its promotion so that large number
of customers will be attracted towards it and profits and revenues will be improving. In this way,
marketing and production department works collectively to attain objectives of company (Pike,
2015).
Marketing and Research & Development department: Both the departments are
interrelated with each other and work collectively to attain the common goal of company.
Research and development department conduct survey with the help of marketing department in
order to analyse the prevailing trends and competitive position in market. This will help in
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developing a new product which will be innovative and different from the offerings of
competitors. On the other hand, marketing department is responsible for promoting the features
of that product and aware customers about the benefits of using that product. In this way,
marketing department of Bulb Energy limited works with research and development department
to exploit the market opportunities and accomplish common objective of company in an effective
way (Pike, 2016).
TASK 2
Covered in PPT
CONCLUSION
From the above report it is found that in an organisation marketing department is of utmost
importance. It assists the firm in delivering its products to the market by doing deep research as
what all are the best suitable options for it. There is high dependency of distinct divisions of the
company with eth promotion team and together they work towards attainment of desired
objective. The analyses show that how the various external elements like social, political etc. has
their direct influence on the operations of the marketing team and hence need to be considered
while designing the promotion activities.
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REFERENCES
Books and Journals
Blythe, J., 2012. CIM Coursebook Marketing Essentials. Routledge.
Brooks, N. and Simkin, L., 2012. Judging marketing mix effectiveness. Marketing Intelligence &
Planning. 30(5). pp.494-514.
Carr, E. R., 2014. E-cigarettes: facts, perceptions, and marketing messages. Clinical journal of
oncology nursing. 18(1).
Eng, P., 2017. Erste Schritte im Online-Marketing. Suchmaschinen-Content-Soziale Medien,
Wiesbaden.
Hashim, N. and Hamzah, M. I., 2014. 7P's: A literature Review of Islamic marketing and
Contemporary Marketing MIx. Procedia-Social and Behavioral Sciences. 130. pp.155-159.
Haywood, M., 2019. Brand essentials. Professional Beauty, (Mar/Apr 2019), p.78.
Ionita, D., 2012. Entrepreneurial marketing: a new approach for challenging times. Management
& Marketing. 7(1). p.131.
Lipsman, A., Mudd, G., Rich, M. and Bruich, S., 2012. The power of “like”: How brands reach
(and influence) fans through social-media marketing. Journal of Advertising research. 52(1).
pp.40-52.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Pike, S., 2015. Destination marketing: essentials. Routledge.
Pike, S. D., 2016. Destination Marketing Organizations–Research opportunities in an era of
uncertainty. In Book of Abstracts-6th International Conference on Tourism. International
Association for Tourism Policy (IATOUR).
Puddle, T., 2015. Marketing essentials for veterinary practices. In Practice. 37(5). pp.259-261.
Purvis, J., 2015. Human resources marketing and recruiting: Essentials of digital
recruiting. Handbook of Human Resources Management, pp.1-19.
Stern, P. N. and Porr, C. J., 2017. Essentials of accessible grounded theory. Routledge.
Online
5 Marketing Concepts Explained with Examples, 2019. [Online] Available through <
https://iedunote.com/marketing-concept >.
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