Marketing Essentials: Overview, Processes, Roles, and Interrelationships

2 – MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Introduction to the concept of marketing including current and future trends.......................3
2. Overview of different marketing processes............................................................................4
3. Roles and responsibilities of marketing manager...................................................................5
4. The ways marketing influences and interrelates with other functional departments..............6
5. The value and importance of marketing role..........................................................................7
6. Conclusion about the importance of effective interrelationship among different functional
departments.................................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing refers to the activity a company proceeds in order to promote the selling and
purchasing of goods and services. This is the foremost element of business management and
trade. For the accomplishment of business objectives, the organization have to take help from
various departments such as human resource, finance, accounting, production, marketing, etc.
But out of all, marketing is most important because it helps the company in selling their products
along with promoting their business in order to get competitive advantages within the
marketplace (Nikiforova, 2018). In order to describe the marketing essentials, the Marks and
Spencer firm has been taken which is a British multinational retailer headquartered in London,
England. Company specialises in selling clothing range, home products and food products.
This report will highlight the role of marketing and their interrelationship with different
functional units. Apart from this the ways in which company utilises elements of marketing mix
along with evaluation of marketing plan also will be described.
MAIN BODY
1. Introduction to the concept of marketing including current and future trends
Marketing is a concept that company should utilise in order to evaluate customers needs
and make decisions accordingly in order to get competitive advantages in front of other
competitors by satisfying the requirements of consumers. Company follows various concepts of

marketing such as production concept which describes that good quality and cheap products are
most preferred goods by the consumers, product concept illustrates that managers within the
organization have to focus on making high quality products then improving them over time,
selling concept is based on serious promotions of goods and services, marketing concept
describes the principles through which the firm can beat their competitors and societal marketing
concept according to which the firm determines the needs , wants and interests of target market.
Trends in marketing has been described as relationship marketing which emphasises on
consumer satisfaction and retention rather than sales volume (Kumar and Mishra, 2019). This
strategy is different as it emphasise on extended communication which are beyond promotional
messages. This marketing trend relates to the short term arrangement in which two parties have
an interest in giving more pleasurable exchange. Another is industrial marketing in which the
firm sell their products to other organizations to resell them later. The revolution within the
technology is the primary cause of these marketing trends.
2. Overview of different marketing processes
The marketing process is a measurable series of different steps to help the organization in
order to identify and reach their goals (Malhotra, 2018). Moreover, the firm also able to discover
the requirements of the clients and develop products according to their needs.
Marketing planning involves the setting of objectives and goals, evaluation of external
and internal factors of business, planning of products, their implementation and tracking of
progress. In context of Mark and Spencer, the marketing process of the firm described as:
 Mission: To prepare aspirational quality approachable to everyone through the
diversified range of their products.
 Situation analysis: M&S competitive advantage is driven by their commitment to
understand the consumers needs, focusing on products which is main mission and
introducing new and innovative products within the marketplace.
 Marketing strategy: Company focuses more on products and their investment into
digital and social channels rather than any other form of advertisement of marketing
strategy.
 Marketing mix:
Product Price