Marketing Essentials Report - Wilkinson
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Added on 2020-07-22
Marketing Essentials Report - Wilkinson
Added on 2020-07-22
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Roles and responsibilities of marketing function...................................................................1P2 Roles and responsibilities of marketing related to wider organisational context..................3M1 Roles and responsibilities of marketing in context of marketing environment....................4D1 Key elements of marketing function and its interrelationship with other units....................5M2 Significance of interrelationship among marketing and other functional units....................5TASK 2............................................................................................................................................6P3 Ways in which different firms apply marketing mix to achieve success in business............6M3. Different tactics applied by the organisation to achieve business objectives......................8TASK 4............................................................................................................................................9P4 Basic marketing plan for Wilkinson......................................................................................9M4 Coherent evidence based marketing plan.............................................................................9CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTIONMarketing is considered as a set of activities or a management process responsible foranticipating, identifying and satisfying customer requirements so as to gain profit. Or saymarketing is an activity that includes processes of designing, producing, communicating,delivering & exchanging products and services that has value for customers, clients, society andpartners (Anche, Hozouri and Mehdizadeh, 2014). Marketing essentials is considered as set oftools that are used by marketing function. Elements of marketing essentials includes marketstrategy, research, competitive analysis, budgeting etc. Wilkinson is large firm that deals in thebusiness of luxury home products and home-wares. It was founded by James Kemsey Wilkinsonin the year 1930. This report highlights the influence of marketing in overall success of anorganisation. It also showcases the ways in which a firm can apply marketing so as to achieve it'sobjectives successfully in a limited period of time. It gives the idea about roles andresponsibilities of marketing and its relationship with other functional units.TASK 1P1 Roles and responsibilities of marketing function.In any organisation marketing plays one of the most crucial role. It can be understood asa brain of different functions of a firm. In order to achieve business success Wilkinson needs tounderstand the importance of marketing in achieving its goals. It will be unjustified to summarisemarketing as only advertising rather it has wider area of operations. It is strategical and tacticalfunction that deals in the processes like researching, analysing, auditing of markets so as toassist firm in designing products accordingly (Castronovo and Huang, 2012). Other than this itconducts activities such as pricing, packaging, consumer service and product distribution throughseveral distribution channels. Roles and responsibility of marketing is as follows:Marketing information management: In the era of competitive business, firms needs tomake plans and strategies as per the mood of the market and this can only be understoodby analysis the data that is collected by different business operations (Singh, 2012). It therole of marketing function to manage this data so that it can be used for future decisionmaking process.Distribution: In order to achieve higher profits any company has to ensure that they musthave an efficient distribution system. It is marketing role to set up a effective channels1
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