Understanding Marketing Mix and Its Importance

The provided report discusses the concept of marketing mix and its significance for businesses. It explains how marketing functions play a vital role in determining company success and development. The 7Ps of marketing mix are outlined as essential components that companies use to innovate their products and services. A suitable reference list is also provided, including books, journals, and online sources.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Responsibilities of marketing function.................................................................................1
M1. Duties of marketing with respect to marketing environment..............................................3
P2 Responsibilities of marketing relate to the wider organisational context of Apple Inc........3
M2 Significance of inter-relationship between marketing and other functional unit ................4
D1 Critically evaluate the key element of marketing function ..................................................4
TASK 2............................................................................................................................................4
P3 Comparison of marketing mix applied by different companies.............................................4
M3 Evaluate different tactics chosen by Apple Inc to achieve business objective.....................7
TASK 3............................................................................................................................................7
P4 Marketing plan for Apple Inc...............................................................................................7
M4 Produce detailed marketing plan for Apple Inc...................................................................9
D2 Design marketing plan with the use of 7Ps ..........................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
.......................................................................................................................................................11
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INTRODUCTION
Marketing is the study of exchange relationship and it is used to maintain, satisfy and
develop the customer. It is also known as an effective management process and activity through
which services and products turn from concept to the reality. Marketing is very important
because it helps to attain, keep and boost the living standards, maximise employment
opportunities, increase national income and many other (Akgün, Keskin and Ayar, 2014). In the
present assignment, given organisation is Apple Inc, it is an American multinational technology
business located in Cupertino, California and worldwide. This report determined about
responsibilities of marketing functions and their relations with the context of organisational. 7P's
of marketing mix and marketing plan of the company also described in this project.
TASK 1
P1. Responsibilities of marketing function
Functions of marketing is very important and essential for the each and every enterprise.
Role of these element in the organisation is to helps a business to identify potentially successful
items for the marketplace. There are different marketing functions which are applied by the
Apple Inc in a systematic manner. These are determined as below:
Marketing information management: It is a first and important function of marketing
which is follow by all organisation. It is used by Apple Inc with motive to identifying basic
needs of customers and market trends. This function play vital role in providing relevant and
accurate information to the customers.
Distribution: It is also another part of the marketing functions which is useful for the
company. Apple Inc uses a selective distribution strategy which is essential for them to attract
large number of the customers towards electronic products (Armstrong and et. al., 2015). Name
of some strategies such as Apple stores, Telecom companies, Authorised retailers and many
others. So this function play critical role in the success and development of company.
Product or service management: It is another part of marketing functions which is
essential to render valuable input to services and product development. Company used this
aspects in order to identifying needs and requirement of customers related to innovative
products.
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Illustration 1: Marketing Functions
(Source: 7Important functions of marketing , 2018)
Pricing: In each and every organisation this functions play vital and essential role in
setting accurate price of products. In case of Apple Inc, they use premium pricing strategy which
help in order to maintain strong image of company and its products.
Promotions: This functions emphasize the premium image and standard of the business
products. This function play important role in order to reaching more target audience
systematically (Babin and Zikmund, 2015). There are some promotions mix which is used by
company such as Advertising, Sales promotions, public relation and personal selling. All these
tools are highly support firm to introduced their electronic equipments in marketplace.
Selling: It is identify as a complementary functions and develops awareness or make
preference for a commodity. This function has different roles and responsibility in order to
provide all products to the end user in a systematic manner.
Financing: Successful marketing gives a regular outflow of fund to pay for business
activities and operations (Baker and Saren, 2016). This functions play important and significant
role in marketing progress by offering alternative approaches of payment to customers such as
leasing, loans or extended credit terms.
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M1. Duties of marketing with respect to marketing environment
Marketing is very important part of the business and environment in order to increase
customer base in the organisation. In respect to marketing environment there are some aspects
such as marketing research, market segmentation, Brand equity and many other that assist in
attracting large number of the customers towards electronic equipments (Boehner and Gold,
2015). Apple Inc deals in different variety of electronic items, in which they require to identify
customers needs and preference about business products.
P2 Responsibilities of marketing relate to the wider organisational context of Apple Inc
In Apple Inc, there are different departments are work with each others. All departments
have their own role and responsibility in order to increase sales or revenues of company. Along
with this, marketing also play vital role in introducing and selling business products in
marketplace. Marketing and department of organisation are interrelated and has common aim is
to maximising customers base in the organisation. Some departments and their relation with
marketing are determined as below:
Marketing and Human resource department: In Apple Inc, Human resource department
play an essential role in recruiting talented candidates who has knowledge about in the filed of
telecom industry (Brassington and Pettitt, 2013). In the organisation, they have more role and
responsibility in providing proper training and development to their employees regarding
business systems and concepts. Along with this, marketing also play significant role in providing
entire information regarding company data to the candidates.
Marketing and production: Production department has more responsibility and duty for
converting raw material into finished products or services. In during the process, this department
perform to enhance the efficiency and ratio of the production. Along with this, marketing
manager play an essential role in transporting all goods to the end user in systematic manner.
Thus, it said, marketing and production department of the company are interrelated with together
and has aim to increasing business sales.
Research and development and interrelation with marketing: R&D department play
important role in conducting research program. It is beneficial and useful session for the manager
because in which they easily identify needs and demands of the customers. This process is
possible with the the help of marketing equipments. There are some aspects which is used by
Apple Inc such as primary and secondary research, it includes questionnaire, survey and many
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other. Thus, marketing and R&D department of organisation are interrelated and have some
motive regarding achievement of long term success in marketplace.
Sales and marketing: Both are complementary functions which is important for the
company to sale their products in marketplace. In this marketing manager play vital role in
applying different tools and technique's such as personal selling, advertisement and many others.
These are known as promotion mix which help in easily attract customers towards Apply iPad,
iPhone, iPad and many other.
Finance and purchase: Main role of this department is to arrange accurate budget and
fund for the business activities. In the organisation, there are different number of products which
are produced by the business manager (Fan, Lau and Zhao, 2015). In order to produce all items,
they need sufficient money for this. Along with them marketing manager play essential role in
analysing some financial resources such as Bank lone, investment and many other. Therefore, it
said that finance and marketing department are connected with each other and have some
objectives for accomplishment of long term goals of company.
M2 Significance of inter-relationship between marketing and other functional unit
Interrelation between organisational department and marketing are more essential for the
company to grow their position in marketplace. Good relation also assist in attract large number
of the clients towards business products and services. In the organisation different departments
are work but they do not perform all activities without marketing. Thus, both are essential for the
enterprise to maximise their profitability and productivity level.
D1 Critically evaluate the key element of marketing function
According to the Charter, (2017) There are mainly five types of key elements of
marketing functions such as Research, Strategy, Planing, Tactics and many others. All these are
play vital and important role in identifying customer needs, plan of business policies, applying
proper tactics and making effective strategy in systematic manner (Hauer, 2011). With the use of
these functions Apple Inc easily increase their sales and revenues.
TASK 2
P3 Comparison of marketing mix applied by different companies
Marketing mix: It is one of the main and important part of marketing plan. This tool
covers entire components that are essential for an enterprise for producing products (Marketing
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Mix, 2016). It includes 7P's such as Promotion, people, place, pricing, product, people and
physical evidence. All these elements are help business to introduced their all activities in
marketplace. Two given organisation is Apple Inc and Samsung, both are use marketing mix
which are determined as below:
Marketing Mix Apple Inc Samsung
Product Company has continued to
enlarge its product mix in
systematic manner. Apple
deals in different products
such as Mac, iPad, Apple
Watch, iPod, Software, Apple
TV and many other (Jones and
Rowley, 2011.). All these
products are recently available
in marketplace.
Samsung deals is different
products such as Tablets,
Mobile phones, Television,
Cameras, Refrigerators,
Camcorders, Washing
machine, Air Conditions,
Microwave ovens and many
others. All these are present in
the marketplace.
Price Company produce different
products which are available in
marketplace. Product price of
all products are different as per
the quality and variety. In this
Apple Inc use premium pricing
strategic which help them to
attract large number of the
customers.
They use different pricing
strategies such as skimming,
Competitive and other which
is based on quality and quality
of electronic items (Davari and
Strutton, 2014).
Place Apple Inc is a famous brand in
all over the world. This
company is authorizes sellers
to ensure monitor over this
elements of the 7P's. There are
Samsung produced their
products and services in all
over globe. For example: In
Mumbai, company has SSK
allocator who are provides for
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some places which are
included in distribution
strategy of Apple's such as;
Fulfilment service, Authorised
retailers, Online apple store,
telecom companies and app
store.
entire products of Samsung.
Promotion In order to produce their
products in marketplace,
company use different kind of
promotional mix such as
Advertising, Sales promotions,
public relation and personal
selling.
In order to attract large number
of the customers, company use
pull strategy which is
beneficial for them. In this
they mainly apply sales
promotion, personal selling,
and many other.
People In case of Apple, Employees
are one of the main elements
in marketing mix (Desai,
2013). In the organisation,
they play important role in
success and development of
company.
In the company, different
stakeholders but employee is
main asset of the company.
Main role of this person is to
increase sales by providing
quality products.
Process Business entity accept that
quality is the fundamental
sophistication. Thus, company
known for its simplified
functions and process.
They use simple process in
order to produce their products
to the end consumers. It is
beneficial for them to
maximise customer base in
organisation.
Physical Evidence Physical Evidence of the
Apple Inc is its Logo and
Pleasant atmosphere of the
Pleasant environment of the
Samsung is Physical evidence
of the company. It attract large
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outlet. It render a premium
experience to the clients and
assist in keeping the brand
image and goodwill with
sophistication.
number of the customers
towards business products and
services.
M3 Evaluate different tactics chosen by Apple Inc to achieve business objective
One of the best and main tactics is marketing mix which is important and beneficial for
the organisation to introduced their electronic equipments in marketplace. With the help of this
tool business entity easily achieve their long term goals and objectives.
TASK 3
P4 Marketing plan for Apple Inc
Marketing plan is an effective document that covers entire information regarding
business activities and functions. It is prepare by each and every enterprise to define their
position in marketplace.
Executive summary: Marketing plan is important part of the all company to prepare this
in a systematic manner (Chaffey and Ellis-Chadwick, 2016). This plan covers different points
such as background, objectives, mission, vision and many other essential elements which are
includes in this task.
Overview of Apple Inc: It is an American multinational technology business located in
Cupertino, California and worldwide. They deals in different products such as Mac, iPad, Apple
Watch, iPod, Software, Apple TV and many other.
SWOT Analysis: It is a best tool which identified the business strengths, weakness,
opportunities and threats. These are determined as below:
Strengths Weakness
 Apple Inc's huge and more brand
equity.
 Better and Larger display as compared
to past versions.
 Lack of innovation.
 No differentiation between 6plus and
iphone6.
 Weak distribution channels in main
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 Extensive and Strong distribution
channels in United State.
markets like china and India.
Threats Opportunities
 Pricing of competing phones.
 Rising manufacturing costs.
 Intense boos in competition.
 Product diversification.
 Make and develop compatible products.
 Rising demand for the mobile
technology and gadgets.
Marketing Objectives: Main marketing objectives of Apple is to attract Hugh number of
customers by providing quality products. Another objective is to maximise their sales and
revenues in limited time period.
Marketing Strategy: It is another parts that includes some information related to company which
are determined as below:
Vision: We relive in deep cross-pollination and collaboration of our groups, which allow
us to introduce in a term that others cannot (Charter, 2017).
Mission: Apples designs Macs, the best Personal computers in all over the globe, beside
with, iWork, iLife, OS X and professional software.
Competitors Analysis: It is main part of the marketing plan which is essential for the
company to identify their competitors. Sum competitors such as Samsung Electronics, Huawei
and many other.
Segmentation, Targeting, Positioning:
Segmentation They segmented into different areas such as
geographical, Demographic, Behavioural and
Psychographic areas.
Targeting Apple Inc mainly target Upper class people
who easily purchase Apple products.
Positioning Position of company is well-known in all over
the globe.
Implementation: In order to implement all activities and functions in an effective
manner. There are some strategies which are used by company such as situational analysis,
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competitors analysis, marketing objectives and many others (Charter, 2017). For this, Apple Inc
use different tools and technique's which help them in order to maximise business sales and
revenues.
Control: It is known as an last part of the marketing plan. In this role and responsibility of
marketing manager is to control all activities and functions in a proper manner. It also assist in
achievement of long term goals and objectives.
M4 Produce detailed marketing plan for Apple Inc
Marketing plan is very important and useful for the company to prepare it in a systematic
manner. With the help of this plan business manager easily do their all activities in an effective
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and efficient manner (Charter, 2017). With the help of marketing plan, all customers are easily
understand goodwill of the company in marketplace.
D2 Design marketing plan with the use of 7Ps
7P's of marketing mix also important for the organisation to innovate their new products
in marketplace. This components also identified the place, promotional technique's, process,
physical evidence and many other parts systematically. It is more beneficial for company to
design marketing mix in a proper and accurate manner.
CONCLUSION
From the above mentioned report, it can be concluded that concept of marketing is more
essential for the all business entity in order to introduced their products and services in
marketplace. Marketing function play vital role in the context of company success and
development. 7P's of marketing mix is used by each and every firm to innovate their all
commodity to the customer's and in market. Marketing plan of the organisation is also another
tool which is apply by every company with aim of determining their entire information related to
background, mission, vision, main strategy and many other.
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REFERENCES
Books and Journal
Akgün, A. E., Keskin, H. and Ayar, H., 2014. Standardization and adaptation of international
marketing mix activities: A case study. Procedia-Social and Behavioral Sciences. 150.
pp.609-618.
Armstrong, G. and et. al., 2015. Marketing: an introduction. Pearson Education.
Babin, B. J. and Zikmund, W. G., 2015. Exploring marketing research. Cengage Learning.
Baker, M. J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Boehner, R. and Gold, S., 2015. The influence of the marketing mix on the diffusion of
innovation: Bass Model Redux. Browser Download This Paper.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Fan, S., Lau, R. Y. and Zhao, J. L., 2015. Demystifying big data analytics for business
intelligence through the lens of marketing mix. Big Data Research. 2(1). pp.28-32.
Hauer, C., 2011. Marketing in the digital age. Editors' Bulletin. 7(3). pp.77-79.
Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Davari, A. and Strutton, D., 2014. Marketing mix strategies for closing the gap between green
consumers' pro-environmental beliefs and behaviors. Journal of Strategic Marketing.
22(7). pp.563-586.
Desai, S. S., 2013. An analysis of the competitive marketing strategies of the hospitality industry
in UAE. IUP Journal of Management Research. 12(1). p.22.
Chaffey, D. and Ellis-Chadwick, F., 2016. Digital marketing. Prentice Hall.
Charter, M. ed., 2017. Greener marketing: A responsible approach to business. Routledge.
Online
7Important functions of marketing, 2014. [Online]. Available through:
<http://smallbusiness.chron.com/functions-marketing-business-32399.html>.
Marketing Mix. 2016. [Online]. Available through:
<http://www.marketingteacher.com/marketing-mix/>.
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