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Marketing Essentials Assignment - Forever Young

   

Added on  2020-10-04

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Marketing Essentials
Marketing Essentials Assignment - Forever Young_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1 Key roles and responsibilities of marketing functions...........................................................1P2. How role and responsibilities of marketing relate to wider organisation context.................3LO 2.................................................................................................................................................4P3. Comparing the ways by which different organisations apply marketing mix elements inplanning process for achieving business objectives.....................................................................4LO 3.................................................................................................................................................8P4. Marketing Plan for the organisation......................................................................................8Budget: ......................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONMarketing may be defined as a study of management of exchange relationships and it isthe process of creating the relationship with customers and satisfying there needs. It refers to theactivities which are undertaken by the organisations in order to promote its goods and services,the activities like selling, advertising, promoting and delivering the products to final consumersor to other businesses (Pike, 2015). Marketing is referred as a process of teaching the consumerswhy they should choose a particular product or a service over those products and services ofcompetitors. Present report discusses about the key roles and responsibilities of marketing andhow does roles and responsibilities of marketing relate to organisational context. This report alsodiscusses about the case study based on Beauty Giant, which needs to design a strategicmarketing plan for new product “Forever Young” by applying 7P's to achieve marketingobjectives.LO 1P1 Key roles and responsibilities of marketing functionsMarketing plays an important role in Nestle and there are various roles andresponsibilities of marketing functions. Marketing department plays a significant role as it isresponsible for increase in sale of product and services and are responsible for attracting theexisting and potential customers (Malhotra, 2015). Some of the key roles and functions ofmarketing department of Nestle are as follows:Branding: Each and every organisation want that its products and services should stand differentfrom other products and services in the market and there should be special identity for itsproducts and services in the market (Larson and Draper, 2015). It is the key role andresponsibility of marketing function of Nestle to create a name, symbol or design of a productwhich is easily identifiable for the customers. Brading helps in creating memorable impressionon the customers and its is the way of differentiating Nestle from its competitors. Branding helpin creating loyal customers and can help in increasing the market share of the company and helpsin growth and expansion of the organisation. Identifying needs of customers: It is one of the major function of the marketing departmentwhich is to identify the needs of the customers. Marketing department collects the requiredinformation about needs of the customers which help in designing or developing a products as1
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per the needs of customers. So, this is the primary function of marketing department whichresults in the growth and survival of business.Planning: Marketing department plays an important role is planning of the organisation in orderto meet the aims and objectives of the Nestle. For developing a plan, it is important for theorganisation to be clear about its goals and objectives, but marketing department helps in settinggoals and objectives of the organisation and also helps in achieving them. It is the importantfunction of marketing to plan for growth and profitability of the organisation by setting the goalsand objectives for the organisation. Product Development: Marketing department also plays a role in developing a product bymaking a proper market research and gather the necessary information which can be used forproduct development. Marketing department of Nestle helps in designing a new product andmaking the changes in the existing based on the information collected to marketing research.Nestle keeps on designing and developing such products which are attractive in design with highquality (Morgan, 2016). So, marketing department of Nestle play an important role in designingand developing the products in order to attract customers that help in increasing the market shareand profitability of the organisation. Packaging and Labelling: One of characteristics of packaging and labelling is to prevent therisks of damage during transportation or storage of products and to attract customers towards theproduct. Marketing department of Nestle helps in designing the type of packaging style neededfor a particular product and to make attractive and pleasing to the eyes of customers. One of thecharacteristic of labelling provides the information to customers, marketing department also helpin labelling the required information which is needed by the customers which includesmanufacturing date, expiry date, ingredients, batch number, price, etc. Standardisation and Grading: Standardisation means uniformity of a product or a service andgrading may be referred as a process and method of classification of various products of thecompany as per their similarity and characteristics. There are various product categories likechocolates, baby foods, dairy products, etc which are offered by Nestle so, it requires the properclassification as per product characteristic and types which is done by marketing department.Pricing: One of the main function of marketing is that it help the organisation in setting the pricethe proper price for a product as per the information collected by the marketing department. 2
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