Marketing Essentials on McVitie's Assignment

Added on - 21 Feb 2021

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MARKETINGESSENTIALS
INTRODUCTIONMarketing is referred as the management and study of exchanged relationships. It is abusiness process of developing strong relations with customers so as to acquire knowledge abouttheir taste and preferences and fulfil them accordingly. It is considered as an institution in whichactivities and processes are done to create, communicate, exchange, deliver valuable services andproducts to the customers.McVitie's which operates in UK market engaging in selling snacksfood brand etc. is taken for the purpose of preparing this report. It was introduced in 1830 atEdinburg, Scotland. This company is owned by United Biscuits and offers products likechocolate digestives, rich tea, Jaffa cakes, Hobnobs etc. This report will cover key roles andresponsibilities of marketing functions along with their interrelation with other functional units inan organisation. Apart from this, marketing mix is carried out to acknowledge the performanceof company within market.Here, market mix will be performed in accordance with Mondelezinternational which is a leading competitor of McVitie's.At last, a marketing plan is produced sothat company ca attain its aims and objectives in a proper manner.TASK 1P1To attain desired results, manager in every organisation needs to perform differentactivities related with marketing and promotions. Marketing department of an organisationperform various activities and operations so that high revenues can be achieved. Other than this,marketing function of McVitie's will benefits the company in sustaining their customers base forlong time with the help of promotions and advertisements(Bačík, Štefko and Gburová, 2014).Different roles and responsibilities of marketing function in context McVitie's are mentionedbelow:Maintaining consumer satisfaction:It is the role of marketing function in anorganisation to maintain and enhance satisfaction level of customers towards the productsor services of company. Marketing department in McVitie's is responsible for retainingcustomer base of company for a large time. It is the duty of marketing department toassure that customers are satisfied with the product line offered by company(Blythe andMartin, 2019). Marketing team in McVitie's retains customers by using social mediatools, surveys, feedbacks etc. This benefits them in acknowledging the issues and1
grievances of customers so that required modifications can be carried out. If marketingteam of McVitie's will not give consideration to the satisfaction of customers, it canresults in low sales and market shares.Conducting market research: Marketing team in McVitie's is responsible for carryingout market research so that customers can be offered services or products as per theirdemand. With the help of market research, manager in McVitie's will be able toformulate and modify policies as per new market trends. This will allow the firm toeliminate those procedures and policies which are not beneficial for company. Due tothis, net revenue of an organisation will enhance. If marketing team of McVitie's will notperform market research then it became difficult for company to fulfil the needs anddemands of customers. Due to this sales and revenue of company can reduceconsiderably (Desai, 2013).Managing marketing budget:Marketing manager in McVitie's is responsible forpreparing and managing marketing budget of company. This budget will include all theexpenses which will be incurred by marketing team while carrying out market research orpromoting products of company. Marketing function of company will track all therequirements of customers and changes in marketplace so that an appropriate budget canbe prepared and managed accordingly. If marketing function of company will not managebudget properly then it will results in ineffective promotions and brand awareness ofproducts will also reduce. Due to this, sales and profitability can be decreased that willacts as a barrier for company to achieve higher growth.Marketing mix:It consists of 7Ps including product, price, place, promotion, people,physical evidence and process. These elements are essential to consider by the marketingmanager of McVitie's as it help them in updating their existing decisions and plans to tackle thestrategies of their rivals in competitive market. For this, market research is essential to conductwhich provides relevant information about rivals' strategies, customer's needs and preferencesetc.Responsibilities and roles of marketing department in market environmentMarketing division in McVitie's is responsible to formulate market strategies that willallow the company to gain high profits against rivals. By developing market strategies,company can acquire a strong position in competitive market environment. Market2
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