Roles and Responsibilities of marketing which are related to wider organisational context
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Added on 2021-02-20
Roles and Responsibilities of marketing which are related to wider organisational context
Added on 2021-02-20
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Marketing Essentials
Table of ContentsINTRODUCTION ..........................................................................................................................3ACTIVITY 1 ...................................................................................................................................3Explain the key roles and responsibilities of marketing functions............................................3Roles and Responsibilities of marketing which are related to wider organisational context......6A critical analysis and evaluation of the key elements of the marketing function and itsrelationship with other functional units of an organisation.........................................................8ACTIVITY 2 ...................................................................................................................................9Compare the ways in which different organisations apply the marketing mix to the marketingplanning process to achieve business objectives ........................................................................9Produce and evaluate a basic marketing plan for Coca Cola ...................................................12Evaluate different tactics applied by Coca Cola to demonstrate how business objectives can beachieved ....................................................................................................................................17Design a strategic marketing plan that tactically applies the use of 7 Ps to achieve overallmarketing objectives ................................................................................................................18CONCLUSION .............................................................................................................................18REFERENCES .............................................................................................................................19
INTRODUCTION Marketing is an important function of business that is needed for planning anddeveloping marketing strategies and plans that will help in creating awareness of products andservices of the company in market(Akbar and et. al., 2017) . Marketing includes variousactivities that are related to advertising and promotions of products and services offered by thecompany. The different functions involved in marketing are advertising, delivering, selling andpromoting products among customers. The main objective of marketing department is to increasethe sales and profits of the company. The main aim of marketing department of a company is toincrease the customer awareness and loyalty. There are basically 7 P's of marketing which areconsidered for analysing the market condition of the company. If there is no effective marketingit will decrease the sales of the company. The company used in this report is Coca Cola whichwas started in the year 1886 in United States. The main product offered by this company is Cocacola drink and this also deals with other cold beverage drinks including diet coke, caffeine Coke,Zero sugar , Coca Cola Cherry, etc. This company is placed amongst Fortune 500 companies ofUnites States. The following report explains importance of marketing function in this company.There is an explanation of key roles and responsibilities of marketing function. There iscomparison of marketing mix of Coca cola with it's competitive organisation. Also there is adiscussion on marketing plan of the company for achieving objectives of the company. ACTIVITY 1 Explain the key roles and responsibilities of marketing functionsA marketing function is an essential element for identifying unique features in a productand services that are delivered to existing consumer and attracting potential buyer towards anyorganisation(Armstrong and et. al., 2015) . The marketing leaders have to accurately operatebusiness activities taking in consideration important functions that are market research,marketing plan, product development and designing, quality standards, branding and customersupport services. By effectively utilising these marketing function an organisation couldeffectively grow its business. The marketing managers systematically formulate strategies thatwill help them to manage tasks, by appropriately distributing and authorising duties to skilledworkforce so that work could get completed in an organisations. When talking about Coca-Cola,marketing executive have to give emphasis on these marketing functions while evaluating
marketing strategies that will help in growing business in global marketing. Some of thesefunctions are described under beneath:Market Research: This is the most important marketing functions which are used forgathering market information, from both internal as well as external source for formulatingstrategies for sustaining a business in competitive industries. In regards with Coca-Cola leadershave to critically develop strategies while introducing new product in market(Baker andMagnini, 2016) . A marketer should have in-depth knowledge about internal as well as externalenvironment that could impact flow of business activities in an organisation. The internal factorsinclude current business activities which are taking place inside the company, whereas externalfactors include macro environment like changing buying behaviour of consumer in target market.A market research helps to managers to gathers current informations which are required forproducing quality product for increasing customer base in specific industries. Product Development: In this functions marketer have to conduct an investigation onsmall sample from target while developing any new product in market. In reference with Coca-Cola, the marketing team should analyse the life cycle of an existing product in market andformulate strategies for adding new features in existing product and deliver to consumer in targetmarket(Campbell and Fabos, 2018). For instance, the leader could emphasize on adding uniquequality of liquid, shape and size of Coca-Cola bottles that will attract consumer for buyingproduct. The manager could also develop plan for introducing existing product with adding somefeatures taking in considerations health factor which will allow buyers to consume the product.This initiative taken by marketing manager help them to increase customer loyalty towards theorganisations. It will have positive impact in improving market shares to create brand value ofcompany in manufacturing industries.Market Planning: In this functions a marketer should give emphasis on exceedingproduction of goods and increasing sales-promotional activities for generating new leads inmarket for organisation in capturing competitive advantage in market. A market plan isconsidered to be systematic framework which help managers to implement strategies that couldbe effectively utilised for achieving short and long term goals of an organisations. The strategiesare discussed by efficient two- way communication process with other managers in work culture.When talking about Coca-Cola, executive should focus on improving sale promotions by givingspecial offers to existing and primal consumers. Also introduce various programs in internal
environment that are effectively utilised for having positive mouth marketing of existing or newproduct in target market. A critical plan will help managers to formulate strategies that could bebeneficial for an organisation.Product Pricing: It is the most important function as cost of product is analysedcritically taking in considerations, buying behaviour of target consumer for growingbusiness(Cavusgil and et. al., 2014) . In context with Coca-Cola, managers should focus onestimating price of product in their decision making policies, where the cost of product shouldsatisfy need of customers. This process will help leaders to retain their target consumer as wellattract potential buyers towards organisation. The estimation of cost on product will helpconsumer to decide weather they should purchase goods from specific company. Henceforth, theeffective pricing strategies will helps in gaining competitive advantage, improve customerrelationship and increased profit margin will result in growing business effectively at globalmarket. Customer Service Management: The key element of marketing is satisfying existingcustomer which will provide a path for growing business in cut throat competitive industries. Inregards with Coca-Cola, the manager should focus on effectively handle customer's complaintsservices, providing credit facilities and after sale services to primal and existing consumer. Thisinitiative taken by leaders will help in increasing customer relationship by giving satisfactoryafter sale services to customer. Thereafter, managing customer in desired way that it will resultin gaining competitive advantage from rivalry in an industry. Also these initiatives allow to seekinterests of more potential buyers towards the organisations. Promotions: This functions involves providing knowledge about goods and service thatevery organisation gives to their customers, while engaging them for buying and consumingspecific goods that have been introduced in market(Cohen, 2005). Basically, there are fewmethods through which promotional activities have been conducted by marketer, in order togather attentions of customers to purchase the product. Some of promotional channels arepersonal selling, advertisement, sales promotions and publicity. When talking about Coca-Cola,managers have to invest more time on developing marketing plan, for improving promotionalactivities with transparent information about product through effective communication channels.The leaders could choose various online platforms like social media for advertising productthrough You-Tube by introducing small advertisement pop-ups on every video that might be
viewed by online user. This step taken by executive will help in attracting potential and existingbuyers toward the products, it will help in increasing profit margin for the company. From above briefed descriptions it has been analysed that these marketing functions, havebeen identified as an important element in growing business and achieving objectives that aredesigned by organisation(Dioko, 2016). While taking in consideration Coca-Cola, managershave to give emphasis on formulating strategies that include critical assessment of marketinformations through investigations, estimation of funds that could be effectively utilised byproducing products and packaging and labelling should be created innovatively, so that potentialbuyers could be attracted towards the product which are already present in target market. It willhelp in increasing brand value and profit margin of organisation. Roles and Responsibilities of marketing which are related to wider organisational contextThere are various roles and responsibilities of marketing managers that are important foreffectively operating business activities, while gaining business advantage in current competitionin market. The marketing leaders should inculcate skills that are utilised for engaging workforcefor actually performing task in an organisations(Duffett, 2017). The marketing functions hashuge impact in achieving competitive advantage for growing business in an industry. Whentalking about Coca-Cola, marketing executive should give emphasis on estimating financialbudgets that are required for producing and manufacturing goods, implementations ofpromotional activities and increase profit margins of company. There are strong relationship thatare build due to effective communication with other departments which are helpful in achievinggoals of company. Mentioned below are some of inter-relationship that marketing has with otherdepartments- Marketing and Finance: The marketing managers have to estimate and discuss fundsthat are required for producing and manufacturing product, as well as implementing sales andpromotional activities so that profit margins could be raised by the organisation. The role offinance department is to provide accurate allocation of funds for operating business activities inan organisation. In regards with Coca-Cola, leaders should give emphasis on proposing estimatebudget in front of finance manager so that activities can take place for growing business. Incontradictory finance department should pass the budget and allocate funds, so that rawmaterials can be purchased from suppliers. Thereafter staff members effectively starts producing
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