Marketing Essentials Role & Responsibilities
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Added on 2020-12-10
Marketing Essentials Role & Responsibilities
Added on 2020-12-10
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MARKETING ESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P.1 Role and responsibilities of marketing.............................................................................1P.2 Interrelation of marketing with other departments...........................................................3TASK 2 ...........................................................................................................................................4P.3 Application of marketing mix by two organizations .......................................................4TASK 3 ...........................................................................................................................................6P.4 Monitoring of marketing plan..........................................................................................6CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONMarketing is the method in which seller sells the goods and services to another person. Itincludes different activities such as sales and promotion etc. It delivers product according topreferences of al people (Baker and Magnini, 2016). Thus as a result they can easily satisfy thecustomers. Thus they can easily attract many users. Hence firm can earn more profits. Thusseller can easily maintain good position in the market as well as in front of users. Reportdescribes about the IKEA which distributes furnitures to all customers. It was found in U.K.Assignment describes about the functions of marketing and its relation with other departments inthe firm. Through this all sectors can function in an efficient manner. Thus company can easilyaccomplish their objectives. It further explains about the comparison of marketing mix of twocompanies. It also explains about the developing and evaluating a basic marketing plan. TASK 1P.1 Role and responsibilities of marketingMarketing is selling of different items to various users in countries. Marketing includesdifferent activities such as selling of goods and setting prorate prices for products and promotionetc. Thus it can increase the satisfaction level of all people. Thus as a result they can easilyincrease their profits. Role of marketing in IKEA are:Product: Manager of the company monitors the preferences of all people so that they cancreate according to their choices. Thus as a result they add some unique and distinct features intheir products. Through this attributes they can easily capture many customers in minimum timeperiod. Hence IKEA can earn more profits and can increase the satisfaction level of all people.Through this they can easily expand their activities in many countries. Hence they can maintaingood position in market. Selling and distribution: In this function market selects a channel of distribution to sellvarious products to all customers. Thus they can easily distribute various goods. It can selectdirect in which there is no intermediary and manufacturer can sell products to users. They canalso choose industry in which lot of people are involved such as whole sellers, retailers andagents etc. They can select channel according to their financial capacity. Through this productscan be delivered in tome to all users (Baker and Saren, 2016).Pricing: Company set prices according to needs of all consumers. Through this they caneasily select a pricing strategy so that they can capture many customers in less time. They can1
choose price skimming in which they an set higher prices for goods (Baker, 2014). Managercan also set price penetration in which they can set lower prices for all their product. They analso select another pricing strategy which suits to all users. They select a strategy according torequirements of all people. Thus they can easily increase the satisfaction of all people. Promotion: It is a strategy in which company can sell more products to all users. Thusthey can sell many products. Manager can use different methods such as direct marketing,advertisement and online tools. Most popular is the online tool so that they can easily sell andpromote the products. Thus customers can easily purchase the product. Through these techniquesmany consumers can attracted and thus IKEA can generate more revenues. They can easilywidens their business in less time. Financing: It is a technique in which manager finds out various ways through whichit can arrange finance for all activities one in the company. Thus they can easily arrange thefinance for its requirements. They can collect finance from different financial institutions andbanks. They can also arrange finance from their friends and relatives. By arranging necessarymoney they can easily perform all activities in an efficient and effective manner. Thus they caneasily accomplish their objectives in less time. IKEA can receive various funds from manysources. It can be internal as well as external. It can take funds from banks and financecompanies. At same time it can take finance from angel investors also. Thus marketing helps infinance the data regarding various sources. Evaluating the target market: In this process manager can monitor the targetcustomers. They can segment population on different criteria. After this only they can evaluatethe needs and wants of all customers. They can create targetting strategies only after monitoringthe needs of all target users. Then only they can easily provide products and can increase thesatisfaction level of all people. Thus they can attract many users in less time. Hence as a resultthey can easily maintain good position in the market. Thus marketing helps in giving the dataregarding the target customer and thus they can easily create target strategies. Hence it can reachto many people. MIS(Marketing information System): This is a technique in which company can keeprecords of all customers. Marketing manager monitors the needs and wants of all consumers andthen creates product. They can keep the information and data regarding the customers in a secretdatabase so that other firms cannot check the data (Brady, 2014). Thus data is very helpful and2
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